R E A L E S T A T E W E E K L Y
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TO READ THESE STORIESAND MUCH MORE REAL ESTATE
NEWS AND ADVICE
Spring Market Heats Up Early as Vancouver and Fraser Valley Home Sales Soar
What You Need to Know About Getting Financing for
a Presale Home
New Columnist Michael Geller: Why Donʼt They Build Small
Houses Anymore?
Since its inception in 1985,
the Real Estate Foundation
of BC (REFBC) has dispersed
over $69 million in grants to non-
profi t and charitable organizations,
post-secondary institutions, First
Nation groups, and other entities
that demonstrate innovation and
leadership in the built environ-
ment, sustainable food systems
and freshwater management. Yet
most people have never heard of it.
REW.ca chatted with Jack Wong,
the foundation’s CEO, about how
REFBC works to create a more
sustainable future for all British
Columbians.
Q: You provided 50 grants total-Q: You provided 50 grants total-ling well over $4 million in 2014 ling well over $4 million in 2014 alone, yet you do no fundraising. alone, yet you do no fundraising. Where does the money come from?Where does the money come from?
A:A: When a property is sold any-
where in BC – whether it’s a condo,
house, mall, or a piece of industrial
land – the deposit is held in the
Realtor’s brokerage trust account
until closing. At any given point
in time, that could add up to hun-
dreds of millions of dollars just
sitting in a bank.
People often think Realtors
receive the interest on those funds,
but that was never the case. Prior
to 1985, fi nancial institutions sim-
ply kept it – free money for them.
Since REFBC was created, that
interest comes to the foundation
as our only source of income.
Q: You typically receive 150-plus Q: You typically receive 150-plus grant applications per year. How grant applications per year. How does REFBC decide which to fund?does REFBC decide which to fund?
A:A: Projects must show leader-
ship in land use stewardship and
the ability to change the way peo-
ple live. They must have longev-
ity, and they must be replicable
– meaning a model developed in
Vancouver could be used in Prince
George or Vancouver Island. There
has to be a clear need for the solu-
tion so we’re not funding research
with no long-term purpose.
Our adjudication process is
extremely proactive. We don’t
just write a cheque if there are
enough boxes checked off . We go
on the road and talk to the people
involved in every project we are
considering. It’s the only way to
gain a deep understanding of all
the issues.
Q: What are some recent exam-Q: What are some recent exam-ples of projects you’ve funded?ples of projects you’ve funded?
A: A: In 2013, we gave a $45,000
grant to Atira Women’s Resource
Society. Their vision was to build
a three-storey residence for mar-
ginalized women in Vancouver’s
Downtown Eastside out of discard-
ed shipping containers. Ultimately,
Atria House won numerous awards
and there are plans for a second,
larger residence. But more impor-
tantly, when I talked to the women
who live there, many were in tears.
One told me she would have been
dead without this opportunity.
Another is our fi ve-year com-
mitment to fund an adjunct pro-
fessorship at UBC’s Indigenous
Community Planning Program. The
grant allows graduate students
to visit First Nations
communities and expe-
rience the cultural dif-
ferences that must be
taken into account when
planning them. For non-
aboriginal students, it’s
an eye opener.
Q: What is REFBC’s Q: What is REFBC’s involvement with the involvement with the Sole Foods Farms beside Sole Foods Farms beside Concord Pacifi c’s down-Concord Pacifi c’s down-town presentation centre? town presentation centre?
A:A: This is an exciting,
truly win-win scenario.
While the developer is
waiting to build on what’s
currently a parking lot, the
City gives them a break on
property tax if they allow
Sole Foods to use it for
urban agriculture. It is a
business enterprise that
incorporates commercial
farming practices, provides
employment and a sense of
self-worth to local Downtown
Eastside residents, and not
only supplies high-end res-
taurants like Hawkesworth
but also donates produce to
local meal programs.
More information about REFBC is found at refbc.com.
Ever wondered where the interest on your home deposit goes? To a great cause, as revealed by this Q&A with Jack Wong, CEO of the Real Estate Foundation of BC
Invested Interest
BURNABY NEW WESTMINSTER FRIDAY, MARCH 13, [email protected] • 604-435-7977
Looking to BUY or SELL a home? To assist you in making the best decisions,
a professional Realtor can provide the most
up to date information on the real estate
market, price, fi nancing and comparative
properties in your area.
Find your EXPERT Real Estate professional right here in REW.ca!
•2 REW.ca » BURNABY / NEW WESTMINSTER » FRIDAY MARCH 13, 2015
B
Bus: 604-530-0231Cell: 604.802.6703
ROYAL LePAGE Wolstencroft Realty
Gurjinder K BhurjiIndependently Owned & Operated
ROYALLePAGE Wolstencroft Realty - LangleyUnit #110-19925 Willowbrook Drive, Langley, BC V2Y 1A7Independently Owned & Operated
[email protected] www.gurjinderbhurji.com
1051 Ewson St, White RockBeautiful Three Year old home in heart of White Rock. Water and Mountain views from Main and Upper levels. High end Kitchen with Granite countertops, stainless steel appliances, Hard-wood fl ooring throughout the home. Enjoy the natural lighting throughout the Upper level. Main fl oor has master bedroom plus three other bedrooms all with ensuite washrooms, and a Den for offi ce work. Basement has two Bedroom legal suite with good rental income. Barbeque on a huge open deck with ocean views in the back. Close to Peace Arch Elementary and Earl Marriott High school. Shopping and Beach closeby. Seller will look at trade options.
NEW LISTINGAsking $1,795,000
• 306 SALES AWARDS SINCE 1984 • REBGV LIFE MEMBER WESTCOAST
www. .com
152 Sales in 2014!
OUTSTANDING AGENT ... OUTSTANDING RESULTS
CHILDCARE CENTRE + PROPERTY$1,168,000 OWNER RETIRING! RARE GOLDEN
OPPORTUNITY to own this FULL-DAY CHILDCARE CENTRE business & property in the most DESIRABLE LOCATION in PORT COQUITLAM. This 1997 built 5329 sq ̓ LIVE/WORK 3-LEVEL FAMILY HOME/SCHOOL includes 1639 sqʼ+/- upstairs living quarters & a SUCCESSFUL PRE-SCHOOL & BEFORE/AFTER SCHOOL care programs business is on a 5635 sq ̓ CORNER PROPERTY. Run your childcare business, PAY YOUR OWN MORTGAGE INSTEAD OF RENT!
LORIPETTIGREW
www.YourRealtyDreams.com
604-649-7040
DEXTER ASSOCIATES REALTY
ALANYASIN
QUIET 2 BEDROOM & DENSFU VIEW HOME! Unique 2 bed & den has 2
large balconies with views of mountains and trees. Shows like new with granite counter tops, s/s kitchen appliances. Versatile open layout. Solid concrete building. Gym. 1 parking. Close to SFU, transit & amenities. Call to view this amazing home!
www.dexterrealty.com
604-689-8226 Yaletown
604-336-3539 Main Street
604-263-1144 KerrisdaleTaking our
Listings Global
4536 NEVILLE ST. $1,878,000
LUXURY CUSTOM HOMEBeautiful custom home, built by experienced local builder, located in Burnaby South, right below Metrotown with gorgeous Southern view. Amazing fi nishings and top quality workmanship throughout the house. Top-of-the-line appliances; Sub-zero refrigerator, Wolf 6-burner stove, Miele dishwasher.
Go Team 604-263-1144
JUST LISTED! $299,000
UPDATED 2 BEDROOM, 2 BATHROOM CONDO
UPDATED 2 bedroom, 2 bathroom condo with NEW stainless steel appliances and counter tops in Kitchen & bathrooms, in beautiful West Coquitlam. 10 minute walk to skytrain and Lougheed Mall and nearby Vancouver Golf Club, close to all major amenities, shopping, schools & S.F.U. Perfect for the fi rst time home buyer or for those looking to downsize. MUST SEE TO APPRECIATE. SHOWS LIKE NEW! #201 - 558 ROCHESTER AVE.Simmy Sandhu 604-897-5880
507-215 TWELFTH ST $245,000
TOP FLOOR OASIS
Discovery Reach by Bosa. Top fl oor unit with lots of updates. N.W. facing, open concept, parking, storage and more!
Go Team 604-263-1144
101-215 TWELFTH ST $229,000
GARDEN OASIS
S.W. facing garden level one bedroom in Discovery Reach by BOSA. Direct street access with private, fenced patio. 2 pets allowed.
Go Team 604-263-1144
102-1690 AUGUSTA $290,000
PEACE OF MIND PURCHASE
868sq.ft. - 2 bed, updated & gorgeous. A well-managed building in a quiet & treeʼd setting. Super nice bathroom, wood fl rs, in-suite laundry, W/B fi replace, 1 pkg stall & tons of storage. Lovely! #102-1690 AUGUSTA AVE.
Evelyn Singer 604-263-1144
New Listings Direct to Your Inbox
GET YOUR FREE PROPERTY ALERTS
Each offi ce independently owned and operated
6584 Charles StreetRenovated North Burnaby home with view of Metrotown Skyline from all windows on Southside of upper fl oor. Three spacious bedrooms up and 4 more down. Beautiful gourmet kitchen with Cherry Wood cabinets, quartz counter tops, stainless steel appliances featuring 6 burner gas stove, two convection ovens and convection micro-wave, larger fridge and Miele dishwasher. Living room has beautiful Cherry Wood fl oors and fi replace with marble surround. Fully renovated main bath with jetted soaker tub with heated back, rain shower as well as hand held shower and granite counter with undermount sink. Both kitchen and main bath have heated fl oors. Air conditioning. Fully fenced backyard with garage off back lane and gated driveway. Charles Street does not have telephone poles in the front – they are located in the lane in the back.
Burnaby $1,399,800
OpenSunday
1 - 4
REW.ca » BURNABY / NEW WESTMINSTER » FRIDAY MARCH 13, 2015 3•
GARRY DARRED604.729.7049
Royal Pacifi c Realty
2.5 Acres Parcel in Coquitlam with stunning views.Previously approved for 11 lot subdivision.
Lots range from 7000 to 9000 sqftAsking $3,650,000 • V1101999
MORE INFO CALL:SURINDER BHANDAL 604-889-5885 OR
GURMEET (GARRY) DARRED 604-729-7049
DON FORSYTHE"You're in Safe Hands"
604-826-5733 CELL 604-607-4900
Ten Year Master Medallion MemberCommercial / Residential
Canadian 1st Realty Inc. [email protected] YEARS REAL ESTATE EXPERIENCE
ROSEDALE’S ORIGINAL GROCERY STORE51278 - 51296 YALE ROAD
ROSEDALE, B.C
Rosedaleʼs original Grocery Store 2600 Sq.Ft., includes 1 bedroom living quarters with wash-room. Huge Basement, Adjoining 600 Sq.Ft. Store has separate interior and exterior doors. Includes own washroom. Building presently being operated as Country Store, Spa, Salon and Country Diner. This is a share sale. Attached fenced lot is 39.5ʼ X 101.6. Both titles are Zoned C-2. Building is concrete block with newer roof and updated electrical. Lot is fully fenced. This is a corner property with driveways on two main roads. Still has Grocery store licence and may qualify for B.C.ʼs new Liquor laws. Price has been reduced by $105,000 to only $445,000.This is an exceptional opportunity. Information Package available on open house viewing.
Hosted by Don Forsythe, Canadian 1st Realty Inc. 604.607.4900
Reduced By $105,000
Originally $550,000
Now Only $445,000
R d l ʼ i i i h h
OPEN HOUSEOPEN HOUSEDAILY 1-3 P.M. until SOLDDAILY 1-3 P.M. until SOLD
SATURDAYS & SUNDAYS 1-4 P.M.SATURDAYS & SUNDAYS 1-4 P.M.
New Listings Direct to Your Inbox
GET YOUR FREE PROPERTY ALERTS
•4 REW.ca » BURNABY / NEW WESTMINSTER » FRIDAY MARCH 13, 2015
* See sales rep for details. Prices and incentives subject to change and do not include taxes.
ONEMINUTE TO EVERY WHERE
• South Point Exchange Mall• Clancy’s, Cobs & Keso’s• Access to Vancouver & USA• Bus Transit to Lower Mainland• Parks, Paths & Green Spaces• Communal Garden & BBQs• Owners’ Lounge, Gym & Patio
LUXURY CONDOMINIUMS LOCATED IN THE HEART OF SOUTH SURREY WITHIN WALKING DISTANCE TO EVERYTHING YOU WILL EVER NEED OR WANT.
HOMES FROM
$240,9005% DOWN PAYMENT
KING GEORGE BLVD
HIGHW
AY 99
32 Ave
148 St
152 St
COME IN TO BOOK A SITE TOURSales Centre Open Daily12 to 5 pm (Except Fridays)
South Point Exchange MallAcross From Save-On-Foods3041 152nd Street, Surrey, BC
604.560.3238 SouthPointWalk.ca
GST I
NCLUD
ED*
MOVE I
N TOD
AY
REW.ca » BURNABY / NEW WESTMINSTER » FRIDAY MARCH 13, 2015 5•
N
MAKE IT YOUR HOME. MAKE IT YOUR COMMUNITY.
SALES CENTRE OPENING SOONWATCH OUR WEBSITE FOR MID-MARCH GRAND OPENING DATE
MurrayvilleHouse.com
SALES CENTRE 220-230 22196 50TH AVE, LANGLEY
Tranquil and beautifully landscaped, Murrayville House exudes a welcoming ambiance. Pride of ownership comes naturally here. The boutique collection of 92 one and two bedroom homes, many with dens, feature large balconies and patios that extend your living and entertaining space outdoors. A central courtyard with tranquil seating areas and private walkways evoke a sense of community. Make it your home.
Renderings, illustrations, floor plans and square footages are approximate and may differ from final product. The Developer reserves the right in its discretion to make changes to the floor plans, project design, appliances, specification and features. This is not an offering for sale, such offering can only be made with a Developer Disclosure Statement. E.&O.E.
MARKETED BYHOMELIFE GLENAYRE REALTY LTD.
DEVELOPED BY FOLLOW USMurrayvilleHouse
MurrayvilleHouse.comREGISTER ONLINE FOR MORE INFO
REGISTER
ONLINE TODAY!
FOR MORE INFO
•6 REW.ca » BURNABY / NEW WESTMINSTER » FRIDAY MARCH 13, 2015
Open House Fri-Sun 11-4 Phone: 604-745-4104
Whether you are buying or renting it isalways fun in the Sunny Fraser Valley.
www.discoverbridalfalls.com *Net of Rebates.
STARTING FROM $179,950*
REW.ca » BURNABY / NEW WESTMINSTER » FRIDAY MARCH 13, 2015 7•
REGISTER NOW
OPEN SPRING 2015
DISTINCTIVE DESIGN. 1,2,3 LEVEL HOMES WITH YOUR OWN STREET LEVEL ENTRY
A rare find in sunny Tsawwassen, CityHomes offer the perfect blend of condo and townhome living.
Private entries mean no communal hallways. The variety of spacious open floor plans offers plenty
of choice. Secure underground parking and low maintenance complete the lock-and-go lifestyle.
1708–55A STREET AT 18 AVENUE, TSAWWASSEN
CITYHOMESNORTHGATE.CA | 604.948.2345
•8 REW.ca » BURNABY / NEW WESTMINSTER » FRIDAY MARCH 13, 2015
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REW.ca » BURNABY / NEW WESTMINSTER » FRIDAY MARCH 13, 2015 9•
•10 REW.ca » BURNABY / NEW WESTMINSTER » FRIDAY MARCH 13, 2015
IT STARTS WITH VISION. REMEMBER YALETOWN’STRANSFORMATION?
REGISTER TODAY
TOWN CENTRE HOMESCOMING SPRING 2015
YVR
RICHMOND
BOUNDARYAND MARINE
FRASERRIVER
MARINEAND CAMBIE
INCLUDING GROCERY, BANK, CAFE AND RESTAURANT
This is not an offering for sale. One can only be made by way of a disclosure statement. E.&O.E.
VANCOUVER’S
LASTWATERFRONTNEIGHBOURHOOD
YALETOWNTHEN
YALETOWNNOW
When Yaletown began it was just a few residential towers. Imagine if Urban Fare and Starbucks were there from the start. River District Town Centre will launch as a complete neighbourhood, with retail, restaurant, residences, parks and playgrounds. Now is your chance to become part of this new neighbourhood—built from the ground up on the last section of Vancouver’s waterfront.
REW.ca » BURNABY / NEW WESTMINSTER » FRIDAY MARCH 13, 2015 11•
censorio.com
BUILT WITH A HEART FOR THENEIGHBOURHOOD
CONDOMINIUM HOMES IN BURNABY HEIGHTS
8 Exclusive homes in the heart of one of the best neighbourhoods in BC, Burnaby Heights. These large, liveable homes are modern but have a heart for old world tradition. Experience beauty in craftsmanship by a developer who’s invested in making the Heights truly special.
OFFERED BY APPOINTMENT ONLY4721 HASTINGS STREET, BURNABY, BCPLEASE CALL FOR PRICING
OFFERED BY APPOINTMENT ONLY188 AGNES STREET, NEW WESTMINSTER, BC1 BEDROOMS STARTING AT $244,9002 BEDROOMS STARTING AT $384,900TOWNHOMES FROM $499,900
CENSORIO PROUDLY INTRODUCES
HIGH-RISE LIVING IN NEW WESTMINSTER
If you’re interested in New West, and you like the connectivity this community has to offer, then get out of the traffic and into a real neighbourhood. At Elliot Street, you live right on the park on a quiet street yet you’re only steps away from transit and the city centre. We’re under construction but it’s your last chance to buy at pre-construction prices.
FOR INFORMATION CALL 604.662.8009 (EXT. 250)This is not an offering for sale. Prices exclude taxes. The developer reserves the right to make changes to the pricing, incentives, floor plans and specifications without notice. E. & O.E.
F R I D A Y , M A R C H 1 3 , 2 0 1 5BURNABY • NEW WESTMINSTER
Looking for a newhome? Start here.
R E A L E S T A T E W E E K L Y
I n P r i n t > O n l i n e > I t ’ s A l l H e r e
Kerrisdale has long been one of Vancouver’s most sought-after neighbourhoods to live, work and play in. This tree-lined, quaint enclave has a rich history dating back to 1905.
Considered the crème de la crème of neighbourhoods, this is where Boulevard Private Residences found its home.
“Kerrisdale is noted as an upscale enclave of Westside Vancouver,” says Lily Korstanje
managing director, Magnum Projects. “There is Ivy league cache here because of it’s close proximity to some of Vancouver’s highest rated public and private schools, including Magee, Point Grey, St. George’s, York House, Vancouver College and Little Flower Academy.”
Boulevard in Kerrisdale is a boutique-style, four storey building showcasing an exqui-site collection of 38 Designer Residences, featuring junior, one, two and three bedroom condo-miniums.
“We are 70 per cent sold and we are releasing the remaining 30 per cent of our homes,” adds Korstanje. “There is still a good mix of all suite types available.
Our junior one bedroom is open style studio with built-in Murphy bed, 150 square foot patio, a parking stall and storage space all for $367,900. For that price, a young couple starting out can actually live in Kerrisdale.”
For discerning buyers who are looking for luxury condo living, Boulevard features old world craftsmanship and signature fi n-ishes such as: Oak engineered hardwood fl ooring throughout living space, nine foot ceilings (10’ in the ground level condos), plush wool-blend carpeting in bedrooms and Zen-inspired bath-rooms with frameless glass show-ers.
“Our patios range from 150 to 400 square feet of extra living space, making it a perfect exten-sion of your home … where do you get that downtown?,” asks Korstanje.
The kitchens are guaranteed to wow even a celebrated chef. Everything you dream of is here: choice of soft-close cabinetry in white high gloss, white oak or natural oak, Caesarstone coun-tertops with a 1½” square edge fi nish, ceramic tile backsplash, Franke single bowl undermount
stainless steel sink with a Hansgrohe polished chrome fau-cet, pullout spray, and garbura-tor and an Energy Star Fisher & Paykel stainless steel appliance package.
The private bedrooms are an oasis of luxury with its plush car-peting, large walk-in closets and marble-tiled master ensuite.
As one of the most distin-guished neighbourhoods in Vancouver, you will fi nd plenty of amenities including transit and recreational opportunities, all within easy walking or driv-ing distance. Boutique shops and cafes, easy access to UBC and transit are just a few of the rea-sons why you want to own at Boulevard.
These gorgeous homes come to you from the highly respected Redekop Group of Companies, a builder with more than 25 years of quality workmanship.
“In pre-sale you want a builder you can trust,” says Korstanje, adding they built the upscale Crescent West townhomes in UBC and Kitswest in Kitsilano.
“Redekop is renowned as a builder with integrity. Their motto is: ‘We build it; we guarantee it.’”
KERRISDALE’S NEW LUXURY
LIVING CONDO RESIDENCES
These elegant residences must be seen to be fully appreciated. The presentation centre, located at 2126 West 41st (Formerly Ed’s Linen’s), Vancouver, is open daily from noon to 5 p.m. (except Fridays) or by appointment. Occupancy is slated for spring 2016. For more information, call 604-685-5778 or Chinese hotline at 778.889.8898, email [email protected] or visit www.boulevardkerrisdale.com