We have listed a new property at 104 701 KLAHANIE DR in Port Moody.
RARELY AVAILABLE! Gorgeous Ground Floor Corner Unit 2 bed, 2 bath condo with two quiet and private patios. Functional floor plan with spacious master bed with large closet. Amazing Nahanni amenities + all that The Canoe Club offers (pool, steam room, hot tub, tennis, b-ball, fitness centre, yoga, games/media/party/meeting rooms, guest suites & much more!). Live walking distance to Brewery Row, Trails, Lakes, Shops, etc., while only a short commute to downtown Vancouver via Westcoast Express or Evergreen Line. Bonus: 2 SIDE BY SIDE Parking & 1 Storage!!Open House Sat Sept 30/Sun Oct 1 from 2-4pm. Open House. Open House on Saturday, September 30, 2017 2:00PM - 4:00PM
Please visit our Open House at 104 701 KLAHANIE DR in Port Moody.
Open House on Saturday, September 30, 2017 2:00PM - 4:00PM
RARELY AVAILABLE! Gorgeous Ground Floor Corner Unit 2 bed, 2 bath condo with two quiet and private patios. Functional floor plan with spacious master bed with large closet. Amazing Nahanni amenities + all that The Canoe Club offers (pool, steam room, hot tub, tennis, b-ball, fitness centre, yoga, games/media/party/meeting rooms, guest suites & much more!). Live walking distance to Brewery Row, Trails, Lakes, Shops, etc., while only a short commute to downtown Vancouver via Westcoast Express or Evergreen Line. Bonus: 2 SIDE BY SIDE Parking & 1 Storage!!Open House Sat Sept 30/Sun Oct 1 from 2-4pm.
Open House. Open House on Sunday, October 1, 2017 2:00PM - 4:00PM
Please visit our Open House at 104 701 KLAHANIE DR in Port Moody.
Open House on Sunday, October 1, 2017 2:00PM - 4:00PM
RARELY AVAILABLE! Gorgeous Ground Floor Corner Unit 2 bed, 2 bath condo with two quiet and private patios. Functional floor plan with spacious master bed with large closet. Amazing Nahanni amenities + all that The Canoe Club offers (pool, steam room, hot tub, tennis, b-ball, fitness centre, yoga, games/media/party/meeting rooms, guest suites & much more!). Live walking distance to Brewery Row, Trails, Lakes, Shops, etc., while only a short commute to downtown Vancouver via Westcoast Express or Evergreen Line. Bonus: 2 SIDE BY SIDE Parking & 1 Storage!!Open House Sat Sept 30/Sun Oct 1 from 2-4pm.
REALTORS® raise $154,000 and counting for wildfire victims
These donations are helping people impacted by the fires by providing cots, blankets, family reunification, and financial assistance for food, clothing and other personal items. “The people in the affected communities are in need and it’s important that we all do what we can to help,” Jill Oudil, Real Estate Board of Greater Vancouver (REBGV) president said. “It’s great to see our communities come together during this time. I’ve heard from REALTORS®, and real estate boards, across the country who are contributing money and fundraising. I encourage everyone to continue this work to support our fellow British Columbians.” BC wildfires have destroyed more than 300 buildings, including 71 homes, since April and have burned more than 6,060 square kilometers in the province, according to Emergency Management BC. In addition to numerous individual REALTOR® donations, real estate boards from across the province, including REBGV, have made donations totalling $80,000. This total includes a $40,000 donation from the BC Real Estate Association. REALTORS® are continuing to raise money by organizing fundraising events across the province. In Metro Vancouver alone, REALTORS® have held fundraising events in North Vancouver, Richmond, Maple Ridge, Coquitlam, and Vancouver over the last month. “The work we’ve done so far is a great start but there’s more to do. People are still in need and we’re continuing to urge our REALTOR® members, and all British Columbians, to do what they can to help,” Oudil said. Some evacuation orders have been lifted, but more than 145 wildfires are still burning across BC. We’re encouraging our REALTOR® community to make donations through this national REALTORS Care® Foundation page. Missing middle housing: three ways to help make home ownership more affordableThe supply of “missing middle” housing lags far behind demand across Metro Vancouver. Missing middle housing includes ground-oriented, multi-unit homes that don’t stand out in single-family neighbourhoods. Although they’re built to look like detached homes, they’re duplexes, townhouses, row houses, fourplexes, and stacked townhouses. Hidden away in back and side yards are carriage and laneway homes.
This strategically located density doesn’t detract from neighbourhood character or alienate NIMBY-minded neighbours. In Metro Vancouver, most land is zoned for low-density, single-family homes. For example, in West Vancouver 94.7% of land is zoned for detached homes. In Delta, 92.7% of land is zoned for detached homes. In North Vancouver District, it’s 85.4%, in Port Coquitlam it’s 81.8%, in Vancouver 80.9%, in Burnaby 80.7%, and in Richmond it’s 75.2%.
This inefficient use of land must change because our neighbourhoods are changing*. Fewer households comprise two parents and children. Instead, more residents are living alone as single parents, as part of a couple without children, or as empty nesters, according to Statistics Canada. The number of multigenerational families is also increasing. This is creating a demand for much more diverse housing options. In our land-constrained region, missing middle housing provides these options, creating more affordable homes in existing neighbourhoods for newcomers who might not otherwise be able to afford to buy, and for existing residents who might not otherwise be able to stay. Green space, natural habitat and agricultural land are saved from development. Sprawl and vehicle use decline and transit use increases. Neighbourhoods are more sustainable, affordable, liveable, and inclusive.
Three ways municipalities can create more missing middle housing1. Zone more land for fee-simple row houses New row houses sold in BC are primarily strata-titled. But not every property owner wants to participate in a strata corporation, pay strata fees, or have a strata council develop and enforce rules on everything from pets to play areas. In contrast, owners of fee-simple row houses own their property just like fee-simple detached homes and are responsible for their own upkeep and maintenance. Benefits for municipalities include more efficient use of land and infrastructure, more housing options which keep residents in a community, and a larger tax base. 2. Allow infill homes for sale in Metro Vancouver municipalitiesMetro Vancouver municipalities increasingly allow rental laneway housing and coach homes. Now Vancouver is taking this a step further by proposing to allow owners of pre-1940 character homes to densify by building infill housing and suites in their homes which they can sell as strata units. In return, property owners must preserve their character home. Municipalities across Metro Vancouver should consider similar zoning rule changes which would help save character homes, add additional gentle density lower cost family units to neighbourhoods, while adding value to existing detached properties. 3. Upgrade municipal rules to encourage smaller homes on smaller lots close to transitSmaller homes are more affordable and municipalities such as Delta have changed development rules to allow cottage homesranging from 800 to 1,600 square feet in the Southlands (Tsawwassen) area. Municipalities such as Richmond permit two homes on former single family lots on arterial roads and additional areas. Municipalities across Metro Vancouver should consider allowing similar transit-oriented density in single family neighbourhoods. Benefits for municipalities include efficient land and infrastructure use, more affordable housing options, and a larger tax base. Transit drives density in Port MoodySince the late 1990s, close to half a million newcomers have moved to Metro Vancouver, drawn by our natural beauty and the potential for low density living. This explosive growth has resulted in escalating home prices and rents, and lengthy commutes for first-time home buyers. Sleepy Port Moody, with its population of 35,000, has been jolted awake by the Evergreen Line, and is preparing for an influx of 15,000 newcomers. Several former industrial sites will be developed into high density residential neighbourhoods. Coronation Park will include ground oriented townhomes, stacked townhomes, low-rise, and high-rise apartments available as strata, market rental, and affordable/non-market rental. These will range from studio to family friendly units, with childcare, parks, cycling, and pedestrian infrastructure. There will also be new mixed residential/commercial uses oriented to the street and designed at a pedestrian scale. For example, banks/credit unions, coffee shops, take-out eateries, as well as areas of higher density with restaurants, grocery stores, and other retail. The proposed 34-acre Flavelle oceanfront site features a mix of business park, commercial recreation, hotel, marina, public market, and higher density residential uses using transit-oriented development. The proposed Westport Village will include a residential towers, mid-rise apartment buildings, and a hotel. Read more about residential density planned for Port Moody.
Condominium sales drive August activity
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 3,043 in August 2017, a 22.3 per cent increase from the 2,489 sales recorded in August 2016, and a 2.8 per cent increase compared to July 2017 when 2,960 homes sold. Last month’s sales were 19.6 per cent above the 10-year August sales average. “First-time home buyers have led a surge this summer in demand in our condominium and townhome markets,” Jill Oudil, REBGV president said. “Homes priced between $350,000 and $750,000 have been subject to intense competition and multiple offers across the region.” There were 4,245 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in August 2017. This represents a 1.1 per cent decrease compared to the 4,293 homes listed in August 2016 and a 19.2 per cent decrease compared to July 2017 when 5,256 homes were listed. The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 8,807, a 3.5 per cent increase compared to August 2016 (8,506) and a 4.2 per cent decrease compared to July 2017 (9,194). For all property types, the sales-to-active listings ratio for August 2017 is 34.6 per cent. By property type, the ratio is 16.3 per cent for detached homes, 44.8 per cent for townhomes, and 76.3 per cent for condominiums. Generally, analysts say that downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months. “Conditions in our detached home market are distinct today from the dynamic in our condominium and townhome markets," Oudil said. "Detached homes have entered a balanced market. This means there's less upward pressure on prices and that buyers have more selection to choose from and more time to make their decisions." The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,029,700. This represents a 9.4 per cent increase over August 2016 and a one per cent increase compared to July 2017. Sales of detached properties in August 2017 reached 901, a 26 per cent increase from the 715 detached sales recorded in August 2016. The benchmark price for detached properties is $1,615,100. This represents a 2.2 per cent increase from August 2016 and a 0.2 per cent increase compared to July 2017. Sales of apartment properties reached 1,613 in August 2017, a 20.1 per cent increase compared to the 1,343 sales in August 2016. The benchmark price of an apartment property is $626,800. This represents a 19.4 per cent increase from August 2016 and a 1.7 per cent increase compared to July 2017. Attached property sales in August 2017 totalled 529, a 22.7 per cent increase compared to the 431 sales in August 2016. The benchmark price of an attached unit is $778,300. This represents a 12.8 per cent increase from August 2016 and a 1.9 per cent increase compared to July 2017. |