Paul Liberatore

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'Sorry, we are looking at offers on Sunday night after the open house'. 20 offers, and much over asking price later, you miss out on another home, rinse, repeat. That is the marlet we are in for detached homes right now. This is beyond a sellers market, and if you have any decent home priced anywhere in the ballpark, you are getting lots of interest. Great for sellers, not so good for buyers. Here is a tip that may make you get that house, ahead of the pack. Most Buyers, and frankly most agents are well versed on our MLS 'Rules of cooperation'. If a home is listed on the MLS that listing agent must follow a set of rules and guidlines, and one of the rules is rule 4.02

 

Presentation of Offers Unless otherwise instructed by the seller in writing:

(a) offers must be presented to the seller, without delay, through the Listing Brokerage;

(b) a Cooperating Brokerage submitting an offer shall have the right to be present during the presentation; and

(c) the Listing Brokerage shall without delay make the seller’s decision on the offer known to Cooperating Brokerages which had submitted offers. If requested by the Cooperating Brokerage such decision on the offer shall be provided in writing. 

 

That means that if a listing comes out on Wednesday, and the agent says 'All offers to be presented Sunday night after the open house' (To try to get a bidding war) technically you have the right to write an offer and have it presented, without delay. Furthermore, you also have the right to have your Buyers agent present the offer in person to the Seller! Another trick that not many people/Realtors know, and it will help get your offer accepted on the spot if your agent can present and perhaps tell the sellers in person why they should accept your offer! The above will of course not apply if the Seller has put in writing that they do not want to take offers until xxxx date, or that they do not want the buyers agent to present the offer in person. That being said, a lot of Realtors do not have this instruction in writing from the seller, so if your buyers agent is savvy enough, he will ask the right questions and get you your home, without having to compete. 

 

Contact me for more tips and tricks on how to get your dream home,

 

Paul

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We have listed a new property at 203 3709 PENDER ST in Burnaby.
Beautiful townhome style 1 bed 1 bath in The Heights area. This unit features a large living area, huge master bedroom & insuite laundry. Updates include bathroom,fresh paint, custom built gas fireplace & a brand new Samsung washer/dryer. Enjoy your morning coffee on your private patio. Minutes away from shopping, restaurants, recreation, transit. Includes one parking stall and one storage locker. First viewings at Open House, Sunday, May 31st 2-4PM.
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Please visit our Open House at 203 3709 PENDER ST in Burnaby.
Open House on Sunday, May 31, 2015 2:00 pm - 4:00 pm
Beautiful townhome style 1 bed 1 bath in The Heights area. This unit features a large living area, huge master bedroom & insuite laundry. Updates include bathroom,fresh paint, custom built gas fireplace & a brand new Samsung washer/dryer. Enjoy your morning coffee on your private patio. Minutes away from shopping, restaurants, recreation, transit. Includes one parking stall and one storage locker. First viewings at Open House, Sunday, May 31st 2-4PM.
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A major oil spill in the waters around Vancouver could cost the city’s economy over $1 billion, according to a study released today.

The study, by researchers at the University of British Columbia’s Fisheries Centre, was commissioned by the City of Vancouver and is part of the municipality’s body of evidence against Kinder Morgan’s plan to expand an existing pipeline that terminates in Burnaby.

That plan would result in more oil tankers plying the waters of Burrard Inlet, from a current average of five per month to 35 per month.

The study took a look at the impact of a 16 million-litre oil spill at the First or Second Narrows of Burrard Inlet in May, and analyzed the impact on commercial fishing; Vancouver’s port; inner harbour transportation; and tourism and recreation. The study modelled the scenarios over a 25 year period.

The study determined that commercial fishing would take between one and two years to recover fully from a spill, while port operations would likely be back to normal in just two to four days. Tourism would take anywhere between eight months to five years to recover.

 

 

A spill that occurred between May and September would have a greater economic impact on ocean-related economic activities like fishing, according to the report. Examples of economic impacts from a major oil spill could include the complete closure of the Dungeness crab fishery, float plane operators having to cancel flights, and fewer tourists visiting the city.

The report also notes that it has been estimated that the Kinder Morgan pipeline expansion would contribute $1.8 billion of direct and indirect economic benefits to Vancouver's economy over 25 years.

An earlier economic impact study commissioned by the Vancouver Economic Commission, the City of Vancouver’s economic development wing, considered the effects a spill could have on tourism, fisheries, retail and real estate values.

Cleanup costs could be as high as $60,000 a tonne, according to the report, and the majority of the businesses affected by a spill would not be eligible for compensation.

On April 9, a cargo ship spilled an estimated 2,700 litres of bunker fuel in the waters of English Bay. Beaches throughout the Metro Vancouver area were closed for several days following the spill.

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Vancouver real-estate marketer Bob Rennie says one of the ways to put the brakes on an overheated housing market fueled by speculation, is to tax people flipping properties.

Rennie made the suggested to more than 1,000 people Friday in a speech to the Urban Development Institute.

"What if we were to look at a tax on people who sold something within a month of buying it, within three months of buying it, or six months of buying it, or nine months of buying it and then had a declining tax? he said."

"What would you do with the money? If we looked at helping, encouraging the affordability side for first time homeowners ... whether it's $5,000 or $10,000, $15,000 or a $20,000. There could be some matrix involving residency, length of residency, and income." 

Rennie says part of the problem is banks won't finance condos until they are 60 per cent pre-sold. People snap them up, but construction takes years. Property values go up and when the condos are finally ready, he says the purchaser decides to sell instead of moving in.

Afterwards Rennie told reporters he was just floating the idea and that "somebody a lot smarter than me" could figure out where the conversation needs to go. He said he doesn't think taxing foreign ownership is the answer.

"if we put a tax on foreign ownership, I think it starts to look like the tip of the iceberg, that now we'll end up putting a tax on foreign ownership whether it's investment in LNG or a manufacturing plant. A tax on foreign ownership, it seems we're really talking about a tax on China and I don't want to see a tax on race."

 

Vancouver Mayor Gregor Robertson agreed with Rennie.

"We definitely need taxation tools that discourage speculation on real estate. It's clear that rampant speculation on real estate is driving up prices in Vancouver," he said in a statement. 

"Vancouver needs the B.C. Government to take action on creating a speculation tax and recognize that we need a fair and level playing field to make housing more affordable for residents in Vancouver, and throughout the province."

Rennie says there are only 47,000 homes in Vancouver and that, not foreign ownership, is one of the reasons they're priced so high.

"The Asian purchaser that we see buying a condo or townhouse, they're local ... 44 per cent of our population is of Asian origin and I think we're mixing it up".

Despite his recommendation, Rennie says speculation isn't the problem it was in 2006 and 2007.

Vancouver realtor Marni Tritt, who has turned over multiple properties in the past when the market was a lot hotter than it is today, agrees.

"I'm not a big fan of a speculation tax, I think we're taxed enough," she said.

Tritt thinks another tax will add to the burden of young, first time home buyers. She'd like to see a reduction in the property transfer tax instead.

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I've noticed an interesting trend lately when doing open houses and showings, which prompted me to write this post. One of the first things excited potential buyers do is go in to the kitchen and open/close a drawer to see if is slams, or 'soft-closes'. I have heard Realtors preach to their clients, "LOOK AT THESE SOFT CLOSE.....IT IS A WELL BUILT HOME" (Meanwhile the foundation is cracked, the wiring is knob and tube, and the insulation is asbestoes), but at the least the drawers close slowly right? I have seen homes built with real maple cabinets that do not soft close, and other homes with particle board cabinets soft-close. Are we supposed to believe the particle board cabinets are of higher quality? When buyers are choosing between this condo or that condo, I have heard them make their list of pros and cons, and one of the pros frequesntly written is 'soft close drawers'


THE LOW DOWN


These hinges cost as little as $4.99 for 2 (good for 1 door) at Ikea with a 25 year warranty, or you could go higher end and get Blum hinges with a lifetime warranty for approx $12.99. So to turn a regular sized kitchen with 10 cupboards and 10 drawers in to all soft close, could cost you as little as $100 but can add thousands of dollars of value when selling. 


- Paul

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Please visit our Open House at 416 600 KLAHANIE DR in Port Moody.
Open House on Sunday, May 24, 2015 2:00 pm - 4:00 pm
Top floor, 2 bedrooms, 2 bathroom, condo with granite counter tops, stainless steel appliances, gas stove, fireplace and large balcony. Large master bedrooms can fit a king size bed. Recent renos of new tiles floors in bathroom, pot lights,and lights in kitchen. Don't forget the 2 parking spaces. Unit comes with membership to the Canoe Club. Walking distance to West Coast Express and Future Evergreen Line. Close to Rocky Point, Trendy Suterbrook Shopping and New Port Village. Call now for your private showing before its too late.
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We have listed a new property at 614 3588 VANNESS AVE in Vancouver.
One of the largest, best laid out TOP FLOOR studios in Vancouver, for an affordable price. Some features incl. laminate/tile flooring, lovely kitchen & bathroom.Proactive strata & pride of a mostly owner occupied building shines thru this beautifully maintained building. Unit includes 1 parking stall and a large secure storage locker. Great fitness/bike rooms in the building and just steps to Skytrain & bus. 9 minutes to downtown and 3 minutes to Metrotown. Beautiful office space with window for lots of light. Low maintenance fees make this unit a must see. Nothing to do but move in.
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Please visit our Open House at 10 1735 PRAIRIE AVE in Port Coquitlam.
Open House on Sunday, May 10, 2015 2:00 pm - 4:00 pm
Stunning Westcoast contemporary 4 bedroom/4 Bathroom executive townhomes. Stunning architectural design on the outside and designer interiors. All homes feature 2 side by side car heated garages. City assessed at over $600,000!3 Bedrooms upstairs with 1 on the main level for in-laws that don't like stairs. Master bedroom has vaulted ceilings, ensuite bathroom and huge walk in closet. Patios on both main and upper floors. Kitchen boasts Soft close maple cabinets, quartz counter tops and stainless steel appliances. Large open concept living with 2 fireplaces, wrought iron accents and built in central vacuum for ultimate convenience. Manicured yard great for pets. Close to shopping and transit and move in ready anytime.
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Please visit our Open House at 24 1735 PRAIRIE AVE in Port Coquitlam.
Open House on Sunday, May 10, 2015 2:00 pm - 4:00 pm
Stunning Westcoast contemporary 4 bedroom/4 Bathroom executive townhomes. Stunning architectural design on the outside and designer interiors. All homes feature 2 side by side car heated garages. City assessed at over $600,000!3 Bedrooms upstairs with 1 on the main level for in-laws that don't like stairs. Master bedroom has vaulted ceilings, ensuite bathroom and huge walk in closet. Patios on both main and upper floors. Kitchen boasts Soft close maple cabinets, quartz counter tops and stainless steel appliances. Large open concept living with 2 fireplaces, wrought iron accents and built in central vacuum for ultimate convenience. Manicured yard great for pets. Close to shopping and transit and move in ready anytime.
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Please visit our Open House at 20 1735 PRAIRIE AVE in Port Coquitlam.
Open House on Sunday, May 10, 2015 2:00 pm - 4:00 pm
Stunning Westcoast contemporary 4 bedroom/4 Bathroom executive townhomes. Stunning architectural design on the outside and designer interiors. All homes feature 2 side by side car heated garages. City assessed at over $600,000!3 Bedrooms upstairs with 1 on the main level for in-laws that don't like stairs. Master bedroom has vaulted ceilings, ensuite bathroom and huge walk in closet. Patios on both main and upper floors. Kitchen boasts Soft close maple cabinets, quartz counter tops and stainless steel appliances. Large open concept living with 2 fireplaces, wrought iron accents and built in central vacuum for ultimate convenience. Manicured yard great for pets. Close to shopping and transit and move in ready anytime.
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Please visit our Open House at 14 1735 PRAIRIE AVE in Port Coquitlam.
Open House on Sunday, May 10, 2015 2:00 pm - 4:00 pm
Stunning Westcoast contemporary 4 bedroom/4 Bathroom executive townhomes. Stunning architectural design on the outside and designer interiors. All homes feature 2 side by side car heated garages. City assessed at over $600,000!3 Bedrooms upstairs with 1 on the main level for in-laws that don't like stairs. Master bedroom has vaulted ceilings, ensuite bathroom and huge walk in closet. Patios on both main and upper floors. Kitchen boasts Soft close maple cabinets, quartz counter tops and stainless steel appliances. Large open concept living with 2 fireplaces, wrought iron accents and built in central vacuum for ultimate convenience. Manicured yard great for pets. Close to shopping and transit and move in ready anytime.
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Please visit our Open House at 18 1735 PRAIRIE AVE in Port Coquitlam.
Open House on Sunday, May 10, 2015 2:00 pm - 4:00 pm
Stunning Westcoast contemporary 4 bedroom/4 Bathroom executive townhomes. Stunning architectural design on the outside and designer interiors. All homes feature 2 side by side car heated garages. City assessed at over $600,000!3 Bedrooms upstairs with 1 on the main level for in-laws that don't like stairs. Master bedroom has vaulted ceilings, ensuite bathroom and huge walk in closet. Patios on both main and upper floors. Kitchen boasts Soft close maple cabinets, quartz counter tops and stainless steel appliances. Large open concept living with 2 fireplaces, wrought iron accents and built in central vacuum for ultimate convenience. Manicured yard great for pets. Close to shopping and transit and move in ready anytime.
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Please visit our Open House at 10 1735 PRAIRIE AVE in Port Coquitlam.
Open House on Saturday, May 9, 2015 2:00 pm - 4:00 pm
Stunning Westcoast contemporary 4 bedroom/4 Bathroom executive townhomes. Stunning architectural design on the outside and designer interiors. All homes feature 2 side by side car heated garages. City assessed at over $600,000!3 Bedrooms upstairs with 1 on the main level for in-laws that don't like stairs. Master bedroom has vaulted ceilings, ensuite bathroom and huge walk in closet. Patios on both main and upper floors. Kitchen boasts Soft close maple cabinets, quartz counter tops and stainless steel appliances. Large open concept living with 2 fireplaces, wrought iron accents and built in central vacuum for ultimate convenience. Manicured yard great for pets. Close to shopping and transit and move in ready anytime.
Read

Please visit our Open House at 14 1735 PRAIRIE AVE in Port Coquitlam.
Open House on Saturday, May 9, 2015 2:00 pm - 4:00 pm
Stunning Westcoast contemporary 4 bedroom/4 Bathroom executive townhomes. Stunning architectural design on the outside and designer interiors. All homes feature 2 side by side car heated garages. City assessed at over $600,000!3 Bedrooms upstairs with 1 on the main level for in-laws that don't like stairs. Master bedroom has vaulted ceilings, ensuite bathroom and huge walk in closet. Patios on both main and upper floors. Kitchen boasts Soft close maple cabinets, quartz counter tops and stainless steel appliances. Large open concept living with 2 fireplaces, wrought iron accents and built in central vacuum for ultimate convenience. Manicured yard great for pets. Close to shopping and transit and move in ready anytime.
Read

Please visit our Open House at 20 1735 PRAIRIE AVE in Port Coquitlam.
Open House on Saturday, May 9, 2015 2:00 pm - 4:00 pm
Stunning Westcoast contemporary 4 bedroom/4 Bathroom executive townhomes. Stunning architectural design on the outside and designer interiors. All homes feature 2 side by side car heated garages. City assessed at over $600,000!3 Bedrooms upstairs with 1 on the main level for in-laws that don't like stairs. Master bedroom has vaulted ceilings, ensuite bathroom and huge walk in closet. Patios on both main and upper floors. Kitchen boasts Soft close maple cabinets, quartz counter tops and stainless steel appliances. Large open concept living with 2 fireplaces, wrought iron accents and built in central vacuum for ultimate convenience. Manicured yard great for pets. Close to shopping and transit and move in ready anytime.
Read

Please visit our Open House at 24 1735 PRAIRIE AVE in Port Coquitlam.
Open House on Saturday, May 9, 2015 2:00 pm - 4:00 pm
Stunning Westcoast contemporary 4 bedroom/4 Bathroom executive townhomes. Stunning architectural design on the outside and designer interiors. All homes feature 2 side by side car heated garages. City assessed at over $600,000!3 Bedrooms upstairs with 1 on the main level for in-laws that don't like stairs. Master bedroom has vaulted ceilings, ensuite bathroom and huge walk in closet. Patios on both main and upper floors. Kitchen boasts Soft close maple cabinets, quartz counter tops and stainless steel appliances. Large open concept living with 2 fireplaces, wrought iron accents and built in central vacuum for ultimate convenience. Manicured yard great for pets. Close to shopping and transit and move in ready anytime.
Read

Please visit our Open House at 18 1735 PRAIRIE AVE in Port Coquitlam.
Open House on Saturday, May 9, 2015 2:00 pm - 4:00 pm
Stunning Westcoast contemporary 4 bedroom/4 Bathroom executive townhomes. Stunning architectural design on the outside and designer interiors. All homes feature 2 side by side car heated garages. City assessed at over $600,000!3 Bedrooms upstairs with 1 on the main level for in-laws that don't like stairs. Master bedroom has vaulted ceilings, ensuite bathroom and huge walk in closet. Patios on both main and upper floors. Kitchen boasts Soft close maple cabinets, quartz counter tops and stainless steel appliances. Large open concept living with 2 fireplaces, wrought iron accents and built in central vacuum for ultimate convenience. Manicured yard great for pets. Close to shopping and transit and move in ready anytime.
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We have listed a new property at 1801 4398 BUCHANAN ST in Burnaby.
Rarely available 2 bedroom South facing unit in Bosa 'Buchanan East'. Reputation for being one of the best buildings in North Burnaby, this unit has soaring mountain & Metrotown views. Floor to ceiling windows, granite counter tops,Maple cabinets, private park just for residents and a secured parking spot and storage locker. Located atop Save on Foods perfect for convenient shopping, just take an elevator down, or decide to eat a Joeys Restaurant. Walking distance to the Brentwood & Gilmore skytrain stations. Featuring a gym, hot tub, sauna, steam room, park and playground. HUGE patio with tons of south facing light for entertaining. This owner bought it brand new and has been meticulous, nothing to do but move in.
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Please visit our Open House at 416 600 KLAHANIE DR in Port Moody.
Open House on Sunday, May 10, 2015 2:00 pm - 4:00 pm
Top floor, 2 bedrooms, 2 bathroom, condo with granite counter tops, stainless steel appliances, gas stove, fireplace and large balcony. Large master bedrooms with irregular shape, can fit a king size bed.Unit comes with membership to the Canoe Club. Call now. First showings at the open house on Sunday May 10th, 2-4pm.
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