Saturday, Nov 16, 2019
Volume 28 Number 45
Phone: 604-502-6100
Fax: 604-501-6111 Email: voicerealtyads@gmail.com
Home Sales Continue Normalization Trend in October Vancouver, BC – November 13, 2019. The British Columbia Real Estate Association (BCREA) reports that a total of 7,666 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in October, an increase of 19.3 per cent from the same month last year. The average MLS® residential price in the province was $724,045, an increase of 5.1 per cent from October
2018. Total sales dollar volume was $5.55 billion, a 25.4 per cent increase from the same month last year. “Most markets around
the province are returning to a more typical level of sales activity,” said BCREA Chief Economist Brendon Ogmundson. “That recovery in sales and
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slower listings activity is putting upward pressure on prices in many markets.” MLS® residential active listings in the province were up 1 per cent from September 2018 to 36,567 units, although down slightly when compared on a seasonally adjusted basis. With sales and listings down, overall market conditions in the province have tight-
ened, with a sales-toactive listings ratio of 21 per cent. Year-to-date, BC residential sales dollar volume was down 9 per cent to $45.3 billion, compared with the same period in 2018. Residential unit sales were 6.2 per cent lower at 65,468 units, while the average MLS® residential price was down 3 per cent year-to-date at $691,618.
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Saturday, Nov. 16, 2019
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Saturday, Nov. 16, 2019
Century 21 Award Winner 2011, 2012, 2014
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Stunning new home in Sunnyside with a sun drenched North backyard. Beautifully crafted w/ultra high end construction & finishing. Exclusive open concept designed & built by a professional Builder. Water on demand systems. Build in A/C and more. Huge kitchen w/elegant cabinets. Feature Island, wok kitchen. Designer Lighting. High celling in living room welted ceiling in the Family room area. Four security cameras with monitor. Tile & Engg wood floor. Media room w/wet bar and Billiard room. In ground sprinkler System, Professionally landscaped. Legal two bedroom suite. Two front gates entry U shape driveway. This is perfect family home close to Bay ridge/Ray Shepherd Elementary and Elgin high school catchment. Close to Be * PREC - Personal Real Estate Corporation
6989 204 St, Langley
$3,299,000
1.2 Acre Townhouses, live/work 'C' 16-20 units/acre Development Property with Views in APROVED Willoughby Central Gordon Estates Plan. No Creeks or Easements. 1,400 Sq ft 3bdr/2bath Rancher not livable. Great Investment Potential. Close to all shopping and amenities. An exclusive opportunity to invest in one of Canada's fastest developing communities. Property sold as is where is. Land value only. By appointment only.
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Half Acre Lot Ready to Build. Fabulous 19,000 sq. ft. building lot available in Sunny Side Park. The perfect location to build your dream home. Close to Ray Shepherd, Laronde, and Elgin Park Secondary schools and walking distance to local parks. G.S.T. not included in the listing price. * PREC
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What’s good value? $ Two bedrooms from 339,900
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ALPHA MORTGAGE HOUSE CORPORATION
#202-12830, 80th Ave. (York Business Centre) Surrey Tel: 604-501-9837 Fax: 604-501-9847 amhc@shawbiz.ca
muPq sl`h mSvry leI huxy Pon kro *Lender/Broker Fee may apply but not without prior written consent of the client
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Saturday, Nov. 16, 2019
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Death at a Property Revisited In 2007, a man was murdered outside the gates of his Shaughnessy home. The murder, described by the police as a targeted killing, remains unsolved. The victim lived in the home with his wife and two children. The property was owned by his mother-in-law, who resided in China. One of his daughters attended a private school nearby. When the school learned that the killing might be linked to organized crime, the daughter was asked to leave the school as they feared for the safety of the other students. The daughter relocated to a public school. The next year, the daughter enrolled in a private school in West Vancouver and the family moved to West Vancouver. Roughly a year later, the wife (“Seller”) listed the Shaughnessy property for sale on behalf of her mother. The Seller told the listing agents that she was
selling the property because of her daughter’s enrollment in the West Vancouver school. She asked the listing agents if she was required to disclose the murder of her husband to prospective buyers. She was advised to seek legal advice on that matter. In the Property Disclosure Statement, the Seller denied knowledge of any material latent defect in the property. A prospective buyer had their agent ask the listing agent the seller’s reason for selling the property. The listing agent advised that the family had moved to West Vancouver to be closer to the daughter’s school. No mention was made of the murder. The buyer entered into a Contract of Purchase and Sale but before completion, discovered the details of the murder and refused to close on the grounds that the Seller had failed to disclose the murder as a material latent defect in
the property. The trial judge found that the murder is not a material latent defect in the property, which would need to be disclosed, but a stigma in the property, which does not. A stigma is most readily described as a subjective factor that might be important to some buyers but not others. The trial judge did, however, find that the seller’s answer to the question of why she was selling was incomplete and amounted to a fraudulent misrepresentation by omission. The trial judge determined that the husband’s murder was a factor in her selling the property and even though the question asked was a general one, the buyer “was entitled to an accurate answer, rather than one calculated to conceal Mr. Huang’s death as a reason for the plaintiff ’s decision to sell the property.” On appeal, the trial
judge’s decision was overturned.The BC Court of Appeal stated: “if the law were now to be modified to require that upon being asked a general question like the one asked in this case, vendors must disclose all of their personal reasons and explain the causes for those reasons, even when they bear no relationship to the objective values or usefulness of the property, the door would be open to a huge number of claims...The doctrine of caveat emptor... places on the buyer the onus of asking specific questions designed to unearth the facts relating to the buyer’s particular subjective likes and dislikes. The answer given by the plaintiff ’s agent to Mr. Deng’s question (that the daughter needed a better chance to practice her English) was an honest answer as far as it went, and in my opinion she was not required to supplement it
with a description of the entire chain of events that led to the enrollment of the plaintiff ’s daughter at the new private school—unless the buyer asked specifically why the girl had been at a public school or whether any violent deaths had occurred during Ms. Wang’s tenure of the property.” Once again, BC’s highest court has reminded us that the doctrine of caveat emptor or buyer beware is alive and well in this province. A seller is not required to dis-
close the existence of a stigma in the property, which may be an issue for one buyer but not another. If buyers have personal concerns such as death, ghosts, allergies, etc. that would affect their decision to buy a property, the onus is on them to inquire, by way of a specific rather than general question, as to whether those conditions exist. Brian Taylor Norton Rose Fulbright LLP Courtesy BCREA
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Saturday, Nov. 16, 2019
Clear Trust Mortgages is scheduling a Free Information Session for those looking to enter the booming Mortgage Industry. We will show you how you can earn $200,000 plus annually. We will never say it is easy - BUT it is achievable. • Join us for networking and information session • Learn how to become a mortgage broker with DLC Clear Trust Mortgages
Where: Unit 113-6345 120th Street Delta (Sun Village Plaza) When: Wednesday November 20th, 6:30pm-7:30pm RSVP:
Helen Prasad at Helen.prasad@cleartrust.ca
Space is limited, Reserve you seating. Refreshments will be served.
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