Posted on
October 31, 2017
by
Paul Liberatore
We have sold a property at 407 2351 KELLY AVE in Port Coquitlam.
TOP FLOOR, Penthouse. Set in the heart of Port Coquitlam, steps from it's cafes, restaurants, entertainment and shopping, Gates Park with Traboulay Trail, West Coast Express, minutes drive to Evergreen Skytrain line & so much more. Unit features Quartz counter tops, stainless steel appliances, full-size washer and dryer, expansive windows to maximize natural light, laminate flooring throughout & open concept living. Comes with 1 parking stall and 1 storage locker. Call for your private showing today!
Posted on
October 29, 2017
by
Paul Liberatore
We have sold a property at 4387 KITCHENER ST in Burnaby.
Beautiful well kept home in the heart of North Burnaby. The most desirable Brentwood park area, tucked away on a quiet street with back lane access. Walking distance to the new Amazing Brentwood, Willingdon Linear Park, Skytrain, and all levels of schools. Manicured front and back yards, potential to add a basement suite on a huge, flat, 50 x 122 R5 zoned lot. Call today for your private showing
Posted on
October 28, 2017
by
Paul Liberatore
Please visit our Open House at 6934 KITCHENER ST in Burnaby.
Open House on Sunday, October 29, 2017 2:00PM - 4:00PM
Welcome Home! This European built, 1-owner beauty has everything you are looking for. 1) Location! Situated in North Burnaby's quiet and family oriented Montecito area. 2) Lot! Huge 60 x 120 flat lot. Completely landscaped with a detached garage and patio in the back. 3) House! Has everything you could want. 3 fireplaces, large covered south facing sun deck, renovated thru out. Ensuite bathroom, his and her sinks, granite counters, real wood flooring, new appliances , new roof and much more. 4) Rental income! Downstairs has a great 2 bedroom mortgage helper with 2 students paying $1600/month, separate entry for everyone's convenience. 5) Peace of mind! Enjoy knowing you are purchasing this 1 owner meticulously kept home!
Posted on
October 23, 2017
by
Paul Liberatore
Federal intervention in mortgage market also “unnecessary,” asserts think tank
The planned move to extend the mortgage stress test to those who have at least a 20% down payment is “unnecessary” and “will do more harm than good,” according to research group the Fraser Institute.
In a report and news release issued October 11, the public policy think tank – which has historically been considered right wing but describes itself as independent and non-partisan – sets out a case for why the new policy will hurt home buyers and is “unnecessary” for the Office of the Superintendent of Financial Institutions (OFSI) to achieve its goals.
The move, being introduced by OFSI this fall, will extend last year’s requirement for those with less than 20% down payment to qualify for a mortgage at the posted interest rate, which is higher than the rate they would actually pay back the mortgage, to create a buffer against future rate rises or financial difficulties. This rule lowers the amount that a mortgage applicant can qualify to borrow. From this fall, it will be extended to all new mortgage applicants, even if they have 20% down or more.
“This proposed stress test for financially sound homebuyers is unnecessary and will do more harm than good – Canadian homebuyers will pay the price,” said Neil Mohindra, public policy consultant and author of Uninsured Mortgage Regulation: From Corporate Governance to Prescription.
The Fraser Institute said its study “finds the case for implementing the stress test is weak and not necessary given the existing supervisory framework.” Likely negative outcomes that the group outlines include:
·Buyers’ access to mortgages will more limited, especially in higher-priced markets.
·Buyers could be pushed away from their preferred homes to less-desirable homes.
·Homebuyers may seek out less-regulated mortgage finance companies, which are funded by private investors and charge higher interest rates.
·Homebuyers may be choose shorter-term variable loans, which are more vulnerable to rate fluctuations than longer-term fixed-rate mortgages.
·Canada’s mortgage industry could become less competitive.
The group points out that the rate of residential mortgage arrears is extremely low, as Canadians are not in general overleveraged on their mortgages.
Dustan Woodhouse, mortgage expert with Dominion Lending Centres, told REW.ca, “This will mean a reduction in the amount of mortgage money available to a buyer of about 20%. So if you’re looking at $500K homes, you’re being told, well sorry, now you’re looking at $400,000. That’s a very significant drop... And in this next round of changes… this is for someone with a large down payment, impeccable credit, clearly documented income… And we’re saying all this in the face of rising home prices. So it seems odd that the government is handicapping Canadians in the way that they are.”
Woodhouse added, “OSFI’s mandate is the stability of the Canadian banking system. Period full stop. They are not worried about the consumer, they are not worried about condo prices in Vancouver. They are looking at the banking system, and finding concern in the stats on household debt numbers, and feel these steps are worth taking to preserve the stability of the banking system.”
Posted on
October 20, 2017
by
Paul Liberatore
We have sold a property at 37 8438 207A ST in Langley.
Welcome to YORK by reputable MOSAIC. This open concept 2 BED & 2 BATH END UNIT has everything you've been looking for.The extra windows create a bright open concept living space: featuring spacious dinning & kitchen area w/SS appliances,OVERSIZED island & Quartz counters (incl bathrooms). Sunken Living room is perfect for entertaining featuring 11' ceilings and leading onto a wide sun deck w/private fenced backyard (off the main)! 2 VERY GENEROUS sized beds up incl. Master w/ ensuite & oversized shower. Deep soaker tub in second bath. Extra-long garage designed for lots of storage. Near recreation, excellent schools, shopping and efficient transportation routes (HWY1 & Carvolt Exchange).
Posted on
October 19, 2017
by
Paul Liberatore
We have sold a property at 266 2ND AVE E in Vancouver.
Welcome to Jacobsen - Solid concrete Live/Work building near Olympic Village, close to Emily Carr & Vancouver Community College! Open floorplan, super functional one bedroom with high ceilings, polished concrete flooring throughout, high end appliances, designer finishings, closet organizers, roller blinds, gas stove, glass sliding doors separating the bedroom, plenty of storage areas & 1 parking stall included. Amenities, Fitness Centre and Workshop. Move in Ready and Quick Possession possible. Open house Sat. Oct. 7th & Sun. Oct. 8th 2-4pm
Posted on
October 17, 2017
by
Paul Liberatore
We have sold a property at 1105 55 TENTH ST in New Westminster.
Don't miss this great opportunity to own this well kept East and South facing 2 bedrooms,2 bathrooms and 2 parking, great functional layout with waterfront and city view, located in downtown New Westminster. Everything is at your door step; New West Sky Train, Douglas College, Movie theater, Safeway, New West Quay and so much more. This well managed building already finished re-piping in 2016, exterior was caulked & painted and balcony updated in 2012. Rental and pets are welcome.MUST SEE!!!!offer(s),if any please email by 5pm oct 2,2017 .see sch.A
Posted on
October 17, 2017
by
Paul Liberatore
Please visit our Open House at 1010 445 2ND AVE W in Vancouver.
Open House on Saturday, October 21, 2017 2:00PM - 4:00PM
Maynard's Block! South East facing, spacious and open, 1 bedroom and flex room (den or storage) in the convenient South East False Creek neighbourhood. Plenty of living space with an open kitchen, stainless steel appliances, beautiful laminate floors & meticulously selected materials throughout. 1 parking stall included as well as a gym, meeting room/lounge & Concierge. Conveniently located, walk to Skytrain station, shopping. Rentals allowed in this great building!
Posted on
October 17, 2017
by
Paul Liberatore
Please visit our Open House at 1010 445 2ND AVE W in Vancouver.
Open House on Sunday, October 22, 2017 2:00PM - 4:00PM
Maynard's Block! South East facing, spacious and open, 1 bedroom and flex room (den or storage) in the convenient South East False Creek neighbourhood. Plenty of living space with an open kitchen, stainless steel appliances, beautiful laminate floors & meticulously selected materials throughout. 1 parking stall included as well as a gym, meeting room/lounge & Concierge. Conveniently located, walk to Skytrain station, shopping. Rentals allowed in this great building!
Posted on
October 17, 2017
by
Paul Liberatore
We have listed a new property at 1010 445 2ND AVE W in Vancouver.
Maynard's Block! South East facing, spacious and open, 1 bedroom and flex room (den or storage) in the convenient South East False Creek neighbourhood. Plenty of living space with an open kitchen, stainless steel appliances, beautiful laminate floors & meticulously selected materials throughout. 1 parking stall included as well as a gym, meeting room/lounge & Concierge. Conveniently located, walk to Skytrain station, shopping. Rentals allowed in this great building!
Posted on
October 16, 2017
by
Paul Liberatore
We have sold a property at 203 2473 ATKINS AVE in Port Coquitlam.
Beautiful 1 bedroom and DEN at VALORE on the Park offers both rural & urban amenities in a boutique, 30-home condominium development like no other in the area! It's quiet here. With only local traffic & just steps from popular Gates Park and peaceful Coquitlam River. Features include 9ft ceilings, social kitchens with Stainless Steel Appliances, Industrial Under Mount Double Sink, Soft Close Cabinetry and Polished Composite Stone Counter Tops. Elegant oversized bathrooms with Vessel Sink, Deep Soaker tub & Stone Counter Tops.
Posted on
October 12, 2017
by
Paul Liberatore
We have sold a property at 69 678 CITADEL DR in Port Coquitlam.
IMMACULATE, FAMILY-SIZED TOWNHOME IN HIGHLY DESIRABLE CITADEL!! Enter into large foyer on lower level with huge Rec Room & flex space, tons of storage, plus RI Bathroom. Main level boasts quality lam flooring & features spacious Grt Rm with gas f/p & formal dining area. Move through to open Kitchen, with Maple cabinets & SS appls. Enjoy large family area with cosy gas f/p & bright eating area. Step out to private patio & grassy b/y. Upper level features generous Master, with vaulted ceiling, walk-in closet & full ensuite. Two other bedrooms are complemented by 4 piece bathroom. Laundry is up with newer washer/dryer. Close to amenities, incl Lion's Park, restaurants & shopping & all levels of schools, incl Castle Park Elem & Citadel Middle. A fabulous home in a great location!!
Posted on
October 7, 2017
by
Paul Liberatore
We have sold a 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.
Posted on
October 7, 2017
by
Paul Liberatore
We have listed a new property at 266 2ND AVE E in Vancouver.
Welcome to Jacobsen - Solid concrete Live/Work building near Olympic Village, close to Emily Carr & Vancouver Community College! Open floorplan, super functional one bedroom with high ceilings, polished concrete flooring throughout, high end appliances, designer finishings, closet organizers, roller blinds, gas stove, glass sliding doors separating the bedroom, plenty of storage areas & 1 parking stall included. Amenities, Fitness Centre and Workshop. Move in Ready and Quick Possession possible. Open house Sat. Oct. 7th & Sun. Oct. 8th 2-4pm
Posted on
October 6, 2017
by
Paul Liberatore
Apartment and townhome activity is outpacing the detached home market across Metro Vancouver*. This activity helped push total residential sales above the historical average in September.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 2,821 in September 2017, a 25.2 per cent increase from the 2,253 sales recorded in September 2016, and a 7.3 per cent decrease compared to August 2017 when 3,043 homes sold.
Last month’s sales were 13.1 per cent above the 10-year September sales average.
“Our detached homes market is balanced today, while apartment and townhome sales remain in sellers' market territory,” Jill Oudil, REBGV president said. “If you’re looking to enter the market, as either a buyer or seller, it’s important to understand these trends and use this information to set realistic expectations.”
There were 5,375 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in September 2017. This represents a 12 per cent increase compared to the 4,799 homes listed in September 2016 and a 26.6 per cent increase compared to August 2017 when 4,245 homes were listed.
The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 9,466, a 1.2 per cent increase compared to September 2016 (9,354) and a 7.5 per cent increase compared to August 2017 (8,807).
“Detached homes made up 30 per cent of all sales in September and represented 62 per cent of all the homes listed for sale on the MLS®,” said Oudil. “This dynamic has slowed the pace of upward pressure that we’ve seen on detached home prices in our market over the last few years.”
For all property types, the sales-to-active listings ratio for September 2017 is 29.8 per cent. By property type, the ratio is 14.6 per cent for detached homes, 42.3 per cent for townhomes, and 60.4 per cent for apartments.
Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,037,300. This represents a 10.9 per cent increase over September 2016 and a 0.7 per cent increase compared to August 2017.
Sales of detached properties in September 2017 reached 852, a 27.9 per cent increase from the sales recorded in September 2016 (666), a decrease of 33 per cent from September 2015 (1,272), and a decrease of 32.9 per cent from September 2014 (1,270). The benchmark price for detached properties is $1,617,300. This represents a 2.9 per cent increase from September 2016 and a 0.1 per cent increase compared to August 2017.
Sales of apartment properties reached 1,451 in September 2017, a 19.1 per cent increase compared from the sales recorded in September 2016 (1,218), a 5.1 per cent decrease from September 2015 (1,529), and a 22.1 per cent increase from September 2014 (1,188). The benchmark price of an apartment property is $635,800. This represents a 21.7 per cent increase from September 2016 and a 1.4 per cent increase compared to August 2017.
Attached property sales in September 2017 totalled 518, a 40.4 per cent increase compared to the sales recorded in September 2016 (369), a 4.8 per cent decrease from September 2015 (544), and an 11.6 per cent increase from September 2014 (464). The benchmark price of an attached home is $786,600. This represents a 14.5 per cent increase from September 2016 and a 1.1 per cent increase compared to August 2017.
Posted on
October 6, 2017
by
Paul Liberatore

Mayor Gregor Robertson will introduce a motion at the next meeting of city council (Oct. 17) that he hopes will stop real estate developers from offering out-of-province buyers first-crack at condo pre-sale opportunities in Vancouver.
In a statement released on Friday, Robertson says the proposed policy, which he intends to put in place by the end of the year, will give priority to local residents for sales of new homes in multi-family developments as part of the city’s new 10-year housing strategy.
The city defines local residents as people who live and work in Metro Vancouver and whose permanent address and place of work is in the region, regardless of citizenship.
“My priority as mayor is to deliver new housing supply that is first and foremost for people who live and work in Vancouver, and this motion aims to give local residents the first opportunity to purchase a new home,” said Robertson. “In Vancouver’s red-hot housing market, local employers are crunched to retain talent, whether they’re doctors, tech workers, retailers, firefighters, teachers or nurses. I regularly hear stories about people who work in Vancouver, but are forced to move elsewhere in the region because they can’t find a place to live. At a time when we are seeing record levels of housing construction, local residents should be able to get the first shot at purchasing a home in new developments.”
West Vancouver introduced a similar policy in 2016 when the city negotiated an agreement with Westbank Corp. development for a new condo project that prioritized local residents. Stipulations included:
• Requiring the project to be only marketed to West Vancouver residents during the first 30 days, and then the next 60 days to residents of Metro Vancouver;
• Requiring purchasers to sign a statutory declaration to demonstrate their intention to live in the building and not flip their unit;
• Restricting bulk purchases of units.
“Vancouver’s Housing Vancouver strategy seeks to dramatically increase the supply of new housing, but it needs to be the right supply — homes that are affordable for people who live and work in Vancouver,” said Robertson. “We want young people and families to put down roots in the city. This motion will support that by helping make sure people who live and work here get the first opportunity to buy into new developments in Vancouver.”
Posted on
October 6, 2017
by
Paul Liberatore

A SkyTrain arrives at Main and Terminal in Vancouver. TransLink is planning to hire a consultant next month who will conduct a comprehensive noise study along the SkyTrain lines. ARLEN REDEKOP / PNG
Wendy Stephen hasn’t had a good night’s sleep in months.
Late into the night and early in the morning, high-pitched squealing and loud juddering from the SkyTrain line that runs a couple of blocks away from her New Westminster home keep her awake.
“For most of the 16 years I’ve lived there it’s kind of a soft swoosh noise. It’s not that you can’t hear it, but it’s not intrusive. It doesn’t interfere with your being able to be home,” Stephen said. “Right now when I’m at home, my jaw’s clenched. It’s just such a horrible noise.”
The situation is so bad, she’s started looking at real-estate listings.
“I might have to sell my house. I can’t stand this noise, and I think that’s outrageous,” she said.
Stephen is not the only one struggling to deal with the noises that come with living near a rapid-transit line.
Noise complaints to TransLink have risen over the last few years, from 190 in 2014 to 307 in 2016, the bulk of which are coming from Vancouver, Burnaby and New Westminster. Delegations attend TransLink board meetings to talk about the noise.
“It’s not a problem that’s going to go away,” Sandy Zein, vice-president of infrastructure management and engineering, said at a recent TransLink board of directors meeting. “As more condominiums, more towers, more housing — mid-rise, highrise housing — goes in around our stations we will be exposing the public to more noise and they’ll have to learn to live with us and we’ll have to accommodate them as best as we can.”
That’s why TransLink is planning to hire a consultant next month who will conduct a comprehensive noise study along the SkyTrain lines, to look for ways to reduce noise beyond what they’re already doing.
“We’ve decided to take a holistic step and look at this issue in a broader context,” Zein said.
In preparation for the study, TransLink staff have analyzed more than 1,000 complaints that came in over the past three years, analyzed the density of complaints to find out where noise measurements should be taken and developed a work plan and scope of work for the study.
“We’re getting some early information and good data,” said Zein.
The first phase of the study includes measuring noise in areas with the highest number of complaints, identifying the source of the noise, reviewing best practices, performing noise modelling and identifying mitigation options.
Zein said options can range from “lower-cost quick wins” to potentially expensive options such as erecting noise-dampening barriers, improving stations, retiring the oldest SkyTrain cars and making rail modifications.
“It’s a lot of potential dominoes we have to think through before we rush off to any one solution,” said Zein.
Also part of the study will be the formation of a community stakeholder group that will receive progress updates and pass the information on in their areas, recommend locations for noise measurements, review results and consult on mitigation options.
“We need to hear our customers, we need to hear our neighbours,” said Vivienne King, president and general manager of the B.C. Rapid Transit Company.
“Any complaint about noise is not good — we want to recognize that. Hopefully our neighbours see that we are taking this seriously.”
Stephen, who has submitted about a dozen written complaints and called a half dozen times, said she just wants to receive a straight answer about what’s causing the noise around her home in New West and for it to finally stop.
“I have no faith whatsoever that anything is going to change,” she said.
Work will begin later this year and continue through next summer. The second half of 2018 will see options evaluated and less complex solutions implemented. More complex solutions will begin to be brought in, subject to business cases and approvals, in 2019 and beyond.
Posted on
October 6, 2017
by
Paul Liberatore

With vacancy at less than one percent for years, searching for an apartment in Vancouver is as much fun as a root canal. Now, the city's real-estate market has passed another depressing milestone (depressing for renters—I suppose landlords might look at it differently).
The average rent for a one-bedroom apartment listing in Vancouver has hit $2,000 a month.
According to PadMapper, a website that collects data from public listings like those posted on Craigslist, the median price for a one-bedroom right across the Metro Vancouver region sits at $2,020 as of September 2017.
A second source says the same but about the City of Vancouver.
Quantitative Rhetoric is a real-estate blog by Louie Dinh, a data scientist and graduate student at UBC. According to his analysis of Craiglist postings, as of September 2017, the median price for a one-bedroom in the City of Vancouver now stands at $2,000 a month.
“In fact, rental prices are on their way up again as landlords keep testing what the markets will bear,” Dinh wrote alongside that figure in his latest blog post.
(A third source, the Canada Mortgage and Housing Corporation (CMHC), put the average price of a one-bedroom in the City of Vancouver in October 2016 much lower, at just $1,268. But CMHC calculates its average rents very differently, by surveying a sample of landlords and looking at occupied dwellings, where rents can only increase in small amounts one year to the next. The $2,000-a-month figure is most relevant to people who are in the process of moving or looking for a new place to live. It’s the average price for one-bedroom listings in Vancouver.)
According to Statistics Canada, in 2015, the median after-tax income for a one-person household in the City of Vancouver was $33,957, or $2,830 a month.
 Median rental prices for the City of Vancouver captured in September 2017. LOUIE DINH
“I’m not surprised,” said Lama Mugabo, a spokesperson for the Vancouver Tenants Union, a new group that held its first meeting last April. “If you are on welfare, the situation is dire. But even if you are working, to pay $2,000 a month is a stretch.”
Skyrocketing rents have become a major issue in a city council by-election that’s happening October 14.
“The biggest issue is what, as a city, we can do for renters,” said Pete Fry, the Green party’s candidate. “There is only one solution, unfortunately, and that is to increase the supply.”
Fry quickly added he knows that position might make some voters cringe.
“When I say, ‘increase supply’, I know it immediately triggers that Vision Vancouver, NPA kind-of rhetoric,” he said. Fry clarified he’s not arguing in favour of a blank cheque for condo developers to build anything they want.
“What we need to do is actually slow the kind of supply that we don’t need and really incentivising the kind of supply that we do need,” he explained. “That is a power that we have at the city level, through the approval and rejection of discretionary rezonings and that sort of thing.”
Even with rents as high as they are, according to CMHC, in 2016, Metro Vancouver's vacancy rate for purpose-built rental housing was just 0.7 percent.
Posted on
October 6, 2017
by
Paul Liberatore

This log-cabin-style house sits on a jaw-dropping 360 acres of remote BC forested coastline, and is rumoured to belong to Hollywood A-list couple Michelle Pfeiffer and David E Kelley — Photo: Multiple Listing Service
A $28.8 million, 340-acre estate property in a remote area of BC’s coastline that is rumoured to belong to movie star Michelle Pfeiffer and her TV producer husband David E Kelley was the highest-priced new listing of last week, September 25 to October 1, on the Real Estate Board of Greater Vancouver’s Multiple Listing Service®.
The owner is listed on public land title records as 1 Wilderness Realty Inc., a small Los Angeles-based real estate management company that applied to the province for moorage at the site in 2006.
The jaw-dropping log-and-stone cabin-style house, which was built in 2007 as a “sanctuary” and had more than $35 million dollars spent on it, is located at the mouth of Bute Inlet. Neither of the co-listing agents was able to comment on the family behind the property’s ownership.
The reason the listing has no postal code is that this remote area doesn’t have one – the bluff-top estate is located approximately 100km north of Powell River on the BC mainland coast, opposite Sonora Island, and accessible only by boat. Fortunately, the resort-style waterfront property has its own deep-water cove and private docks, in addition to a trout-rich lake.
With a surprisingly few three bedrooms, there are nevertheless many rooms in the 3,979-square-foot home, which boasts massive cathedral ceilings in the living areas, plus a recreation room and a loft. It was listed on October 26 for $28.8 million.
However, that price makes it only the third most-expensive current listing on the REBGV’s MLS® as of October 5, beaten out by a luxury Shaughnessy mansion and a Southlands estate, listed for $34.8 million and $29.8 million respectively. (The former held the temporary honour of being Canada’s most expensive listing before a $35 million Toronto mansion usurped it.)
The median price of a detached home across the Greater Vancouver region crept up again last week, to $2,090,000 – although it’s around a million bucks more than that in Vancouver proper.
Townhome median listing prices held steady at just $100 lower than the previous week, now at $929,900. But median condo prices on the MLS® crept upwards once more, getting closer to the $700K mark at $698,950.
At 1,148 new units coming on stream last week, September 25 to October 1, this is lower than the previous week’s new listings but caps off a strong month for new inventory in September. Total listings as of October 5 now stand at a healthy 9,336 homes for sale in the Greater Vancouver region. However, the number of listing price reductions increased once more, to 442 price drops during that same week.
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