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Wednesday.January 13.2016
Vol.21 No.12
Canada Post Agreement 40069240
Waterfront property values slip Homeowners ponder possible causes for dropping evaluations
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CHRIS BOLSTER reporter@prpeak.com
It would have been rare to hear from a homeowner who thought their property value had been assessed too low a couple of decades ago, according to Bill Dawson, a deputy assessor for BC Assessment, but times change, as does real estate. While homeowners in some parts of Metro Vancouver and Whistler contend with a red-hot market, those in more secluded areas such as Powell River are finding much more modest gains with their assessments. In some cases, they are finding the value of their property has actually dropped. “It’s my observation, rather than a statistic, but there have been more people complaining about their assessments being too low than too high recently,” said Dawson, deputy assessor for Powell River, central and north Vancouver Island and southern and northern gulf islands. Dawson explained the communities he assesses have seen relatively stable prices with modest increases over the past 20 years, with the exception of a blip around 2008/09 when real estate prices dropped everywhere. But that’s nothing compared to the meteoric rise in values for property in Metro Vancouver, where some neighbourhoods are seeing increases of 20 to 30 per cent in 2016. Compare that to the average value for single-family detached homes in City of Powell River and Powell River Regional District, which increased 1.15 per cent and 1.53 per cent respectively over last year. Individual properties, however, will see larger ranges of change, somewhere in the minus five to plus 10 per cent range, or greater depending on circumstances. Guy Gentner, a former resident of Delta who moved to Powell River after he retired from provincial politics, lives south of town and received a shock when he opened his property assessment. Instead of modest increases, what he saw was a sizeable loss. »2
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SHORELINE WOES: Stittle Road resident Guy Gentner is concerned about decreasing property values for waterfront properties as the number of landslides increases on the coast. Not everyone agrees on the immediate cause, however. CHRIS BOLSTER PHOTO
$479,000 WATERFRONT
$479,000 WATERFRONT
$479,000 NEW RANCHER
$479,000 SOUTHWEST RANCHER
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Warren Behan
Personal Real Estate Corporation
Broker Owner 604 485 2324 warren@warrenbehan.com View current listings at
7199 Esquimalt Court 7174 Westminster Street 4 bedroom and den Gorgeous Fully fenced kitchen back yard Oak floors, new sac bath Quiet cul-de Walk-out basement Terrific new price Fabulous view $474,900
7199 Court 7199 Esquimalt Court 7199 Court 8713Esquimalt Highway 101 4119 Bowness Avenue 3274 Esquimalt Cariboo Avenue 4 bedroom and den 4 bedroom and den 4 bedroom and den Executive rancherback on 2.3 acres Fully 3-bdrm, open layout Well-kept, open layout Fully fenced yard fenced back yard Fully fenced back yard HugeQuiet shop, cul-de in-ground Kitchen island, French ensuite, kivasac fireplace sacpool Quiet cul-de sacdoors 2-bdrm, Quiet cul-de Walk-on waterfront Patio, ensuite, quiet street Nicely landscaped property Terrific new price Terrifi c new price Terrifi c new price Fabulous view Fabulous view Fabulous view $1,350,000 $299,900 $254,900
Get ALL the NEW listings at prhotnewlistings.com 4766 Joyce Avenue Powell River, BC V8A 3B6 Office: 604 485 4231