BURNABY
FRIDAY, JANUARY 9, 2015
NEW WESTMINSTER
info@rew.ca • 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, financing and comparative properties in your area.
R E A L E S TAT E W E E K LY
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What can we expect from the real estate market, house prices and mortgage rates in the coming year? Here, REW takes a look at some key predictions for 2015.
HOUSING DEMAND Fuelled by both population and employment growth, the Canada Mortgage and Housing Corporation (CMHC) is painting a fairly rosy outlook for the region’s residential housing market in 2015 and into 2016. “Housing demand is on the rise due mostly to a majority of new immigrants settling in the Vancouver region,” says Carol Frketich, CMHC’s BC regional economist. “We are also seeing improved growth in income and jobs.” RE/MAX also issued a 2015 forecast in December 2014. It said, “After losing multiple offer bids for detached houses … buyers may become more hesitant to continue their pursuit of buying a detached home in 2015. However, as those potential buyers move to the sidelines and wait for the market to stabilize, the pipeline of demand for the region will continue to grow.
HOME SALES CMHC forecasts that housing sales in the Metro Vancouver area will drop only very slightly to 32,350 units in 2015, down from 32,800 this year but still above the 15-year average of about 31,300 sales. RE/MAX also projected that in Greater Vancouver, the number of unit sales “should remain largely the same [as 2014].”
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Should You Sell Your Old Home Before Buying a New One?
HOUSE PRICES CMHC is predicting the average overall home price to rise 1.2 per cent to $821,000. But RE/MAX has a more bullish prediction of a 3 per cent rise for house prices in Greater Vancouver. Larger rises still are predicted for Kelowna, which is expected to see a 7 per cent increase in house prices, and Victoria, where homes are forecast to rise by 4 per cent.
HOUSING STARTS Housing starts in Metro Vancouver are expected to hit 18,700 in 2015, down from a predicted 18,900 for 2014. They are expected to recover to 19,250 in 2016. “Although housing starts are expected to dip slightly in 2015, overall the Vancouver housing market is quite stable,” says Robyn Adamache, CMHC senior market analyst. “Total housing starts will edge higher as resale market conditions remain stable.”
INTEREST RATES Historically low interest rates have bolstered the Vancouver and BC real estate markets in 2014, and the CMHC economists are among many to predict that demand and sales could soften slightly towards the end of 2015 when the anticipated rate increases take effect. Frketich says, “In late 2015, housing demand will be tempered by rising mortgage interest rates.” However, the CMHC’s Housing Outlook report claims this will not be significant. It says, “Gradual increases in mortgage rates from historic lows are not expected to significantly impact housing demand.”
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R E W.ca » B U R N A BY / N E W W EST M I N ST E R » F R I DAY JA N UA RY 9, 2 0 1 5
JASON SOPROVICH EXCELLENCE IN THE LUXURY HOME MARKET
604.817.8812
www.dexterrealty.com
604-263-1144 Kerrisdale
604-336-3539 Main Street
JUST LISTED!
604-689-8226 Yaletown
$688,800
RARELY AVAILABLE!!
$659,900
AMAZING CORNER UNIT
Rarely available “Oakwood” by Intracorp. 1,627 sq.ft. 3-level townhome in wonderful Forest Glen neighbourhood. 3 bedroom w/ 2.5 baths and 2 covered parking stalls. Marlborough Elementary and Burnaby South Secondary school catchments. #24 - 6539 ELGIN AVE. SHERMAN K. LEE 604-762-4598
• Highly sought after SW corner unit at Metroplace. • 2 bed, 2 bath w/ parking & storage locker. Great open space and views from every room! MUST SEE! • #3507 - 6461 TELFORD AVE. SHERMAN K. LEE 604-762-4598
OPEN SAT 2-4PM
507-215 TWELFTH ST $245,000
$293,000
Magnificent Heritage Residence in Buckingham Heights Originated in 1892, the ‘Wintemute House’ is Burnaby’s most historical residence offering a one-of-a-kind tranquil setting complete with magnificent grounds, stone walls, lush landscaping, Porte Cochere and 5-car garage. This magnificent heritage residence is situated on a large 1/3-acre property in the heart of Burnaby’s most sought after and prestigious ‘Buckingham Heights’ neighbourhood. Featuring complete privacy and approximately 5,000 sq. ft. on three sprawling levels, the home offers impeccable quality and finishings of yesteryear and has been meticulously maintained with the utmost of care and attention to detail. The bright open floorplan features 5 spacious bedrooms upstairs including a sensational master with sitting area, four gleaming bathrooms, spacious living and dining rooms with roaring fireplace, high ceilings with crown mouldings, a wonderful kitchen and eating area, a cozy family/games room with custom woodwork and ceiling detail, a private study with signature fireplace, mullionpaned heritage windows, miles of wainscoting, an elegant formal entrance and rich hardwood flooring – all opening through French doors to a gorgeous sunfilled wrap-around veranda. Additionally, the home offers a crescent driveway, full basement, ample storage and sizeable attic that can be used as an extra guest bedroom or playroom for kids. Minutes to all local amenities including Malvern, Braemar and Buckingham Parks. This exclusive estate can be yours today! PLEASE NOTE - The home is designated under the Heritage Act with The District of Burnaby and requires City approval before any exterior renovations or demolition is executed.
7640 Berkley Street, Burnaby
Offered at $2,198,000
soprovich.com
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www.
OUTSTANDING AGENT
604-275-9787 patsy@patsyhui.com WESTCOAST
... OUTSTANDING RESULTS
152 Sales in 2014!
• 306 SALES AWARDS SINCE 1984 • REBGV LIFE MEMBER
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 sqʼ LIVE/ WORK 3-LEVEL FAMILY HOME/SCHOOL includes 1639 sqʼ+/- upstairs living quarters & a SUCCESSFUL PRESCHOOL & BEFORE/ AFTER SCHOOL care programs business is on a 5635 sqʼ CORNER PROPERTY. PAY YOUR OWN MORTGAGE INSTEAD OF RENT! Purchase price includes $200,000 for BUSINESS & $968,000 for the PROPERTY.
★
PEACE OF MIND PURCHASE
868 sq.ft. - 2 bed, updated & gorgeous. A well-managed building in a quiet & tree’d setting. Super nice bathroom, wood flrs, in-suite laundry, W/B fireplace, 1 pkg stall & tons of storage. Lovely! #102-1690 AUGUSTA GROVE. EVELYN SINGER 604-263-1144
TOP FLOOR OASIS Discovery Reach by Bosa. Top floor unit with lots of updates. N.W. facing, open concept, parking, storage and more! GO TEAM 604-263-1144
LORI 604-649-7040 PETTIGREW
ALAN YASIN
www.YourRealtyDreams.com
DEXTER ASSOCIATES REALTY
UNIQUE 7 BEDROOM VIEW HOME MODERN LUXURY - Views, lifestyle. Brand new house, quiet street, balconies with fabulous views, air conditioning, rental suite. 2-5-10 warranty. Desirable family neighbourhood close to parks & amenities. Don’t miss out - CALL to be added to VIP preview list.
R E W.ca » B U R N A BY / N E W W EST M I N ST E R » F R I DAY JA N UA RY 9, 2 0 1 5
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#1 in SOUTH DELTA* *MLS MEDALLION CLUB FOR 28 YEARS®
Call for a free market evaluation
Why Listings Sell? Why Reimer's Work with the Reimer’s? BIG ADS, BIG MARKETING & HANDS ON SERVICE
604-868-2827
• EXTENSIVE EXPERIENCE IN ESTATE SALES • EXTENSIVE EXPERIENCE IN NEW CONSTRUCTION • EXTENSIVE EXPERIENCE IN RENTAL PROPERTY • #1 REALTOR IN SOUTH DELTA* • FULL MLS SERVICE • KIOSK AT RICHMOND CENTRE
$249,000
OPEN SUNDAY 2-4PM #120-5518 14TH AVE, TSAW Beautifully updated 1 bedroom condo in popular Windsor Woods. A perfect ground floor unit with oversized covered private patio that opens onto side of treed park, walkout to sidewalk from patio. Extremely quiet & private! New washer, dryer & dishwasher. New laminate flooring, mouldings & new paint. Great spacious open floor plan with large bathroom. Park on no-through street or secure underground parking. Storage unit, gas fireplace for heating, condo hot tub, sauna & large gym all included. 2 pets allowed + terrific neighbours. Next door to town centre and all amenities. You won't want to miss this one. It's a "10"! CALL 604-868-2827
PRICE REDUCED
$1,198,000
T S U J D L O S JUST N I SOLDYS 7 DA
JUST SOLD
JUST LISTED
$1,649,000
OPEN SAT & SUN 2-4PM 963 51A STREET, TSAW. - Gorgeous rancher with full basement - Legal 2 bedroom suite - Approx. 5200 sq.ft., triple garage - Great location, Large private west lot
4960 2A AVENUE, TSAW
JUST SOLD
JUST SOLD
4929 2A AVENUE
4949 2A AVENUE
JUST SOLD
JUST SOLD
JUST SOLD
5393 WILDWOOD CRES 1838 GOLF CLUB DR
ROBIN
604-868-2844
Quiet street with sunny southern exposed yard. This gorgeous home features 4384 sq.ft., excellent floor plan, high vaulted ceilings, gourmet kitchen, beautiful great room, 6 bedrooms, den, 8 bathrooms, 1 or 2 bedroom suite with high end finishing throughout. CALL 604-868-2844
JUST SOLD
5171 DENNISON DR 163 ENGLISH BLUFF RD
• LISTINGS ON 4 WEBSITES • LARGE READABLE ADS IN REAL ESTATE WEEKLY • VANCOUVER & RICHMOND ADVERTISING • PROFESSIONAL PICTURES & BROCHURES • VIRTUAL TOUR - CRAIGSLIST - YOUTUBE • OPEN HOUSES (AT SELLER’S REQUEST)
5562 SUMMER WAY
5693 9A AVENUE
JUST SOLD 517 ALLEN DRIVE
JUST SOLD 4838 6TH AVENUE
JUST SOLD 4947 11A AVENUE
JUST SOLD 5006 1A AVENUE
*BASED ON # OF YEARS QUALIFYING FOR MEDALLION CLUB 1983, 1984, 1985, 1986, 1987, 1991, 1992, 1993, 1994, 1995, 1996, 1997, 1998, 1999, 2000, 2001, 2002, 2003, 2004, 2005, 2006, 2007, 2008, 2009, 2010, 2011, 2012 & 2013 group
- Seafair Realty
1625 56th Street, Tsaw
View our listings at www.reimersrealestate.net
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REW.ca » BURNA BY / N EW WEST MI NST ER » F R I DAY JA N UA RY 9, 20 1 5
R EW.ca » BUR NABY / NEW WEST MINST ER » F R IDAY JANUARY 9, 20 15
All of us at Park Georgia Realty would like to give a very heartfelt Thank You to all of our Friends, Family and Clients. Wishing all of you The Best in 2015
Nam Angrash
Aziz Askarian
Sarah Askarian
Shawn (Javid) Atmani
Rosemary Barnes
Joanne Beckler
Wolfgang Beyer
Winifred Buschner
Joe Caldarella
Dan Callaghan
Betsy Carstairs
Tony Caya
Eve Chiang
Peter Cho
Grace Chung
Steve Chung
Nicole Clark
Sam Clark
Steve Collyer
Gail Conzatti
Mauro Conzatti
Ippolita Corcione
Brian Craig
Sandra Craig
Tracey Davies
Steve Davis
Luise DiPietrantonio
Sheila Dhillon
Eric Friesen Managing Broker
Romeo Di Pietra
Dawn DutrizacLarose
Elizabeth Dziewanska
Deanna Edmonds
Namir Faraj
J. Craig Fenton
Richard Ferguson
Katarina Glavas
Zelko Glavas
Celine Godard
Steven Goodwin
Ed Goss
Nicole Hall
Rhea Hayes
Rod Hayes
Kristi Hayward
Celrina Ho
Emma Hsu
Graham Hung
Raymond Javier
Jad Katusa
Jinkyu Kim
Ed Kinnear
Dennis Lam
Brenda Lee
Hester Liang
Loren Maclean
Paul March
Ben Marklund
Lorne McCarthy
Susan McEwen
Carol McLintock
Robert Miller
Natalia Morin
Mohammed Sleiman
Burnaby 604-421-7275
Riadh Muslih
Branka Nedimovic
James Ng
Ravi Panwar
Vivian Pearson
Lowell Quesnel
Allan Rafiei
Bruce Redmond
James Rogers
Mike Ronnekleiv
Tej Saggu
Georgina Tsang
Adrian Vekic
Bena Slojewski
Victor Song
Lisa Steele
Phyllis Stelting
Dan Therrien
Derrick Thornhill
Cliff To
Glenn Toppings
Bruce Tsang
June Warkentin
Elise Weatherby
Scott Whitehead
Nancy Williams
Andy Wrzosek
Winnie Yuen
Glenn Yamada
Bongju Yang
Ihor Zalubniak
New Westminster 604-525-1005
Coquitlam 604-931-7227
Port Coquitlam 604-941-3838
Tanya Anderson
Heather Jiwan
Dominion Lending Mortgage
Dominion Lending Mortgage
Kevin Schneider
Brian Wallis
www.parkgeorgia.com
Amy Shin
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R E W.ca » B U R N A BY / N E W W EST M I N ST E R » F R I DAY JA N UA RY 9, 2 0 1 5
CO M RN O ER VE OF I HW N Y # NO 1& W 17 6T H
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R E W.ca » B U R N A BY / N E W W EST M I N ST E R » F R I DAY JA N UA RY 9, 2 0 1 5
GRAND OPENING January 24th The Black+Whites on Foster Avenue are classic, light-filled three-storey townhomes in Burquitlam. Sophisticated and tailored, and yet genuine, familiar and inviting. You get your own front door, your own yard, attached parking and renowned Intracorp scrutiny of every last detail – at a price that you can afford. Don’t you wish all decisions in life could be so black+white? Visit our two fully furnished model homes on January 24th.
3 + 4 bedroom townhomes 1230 - 1610 square feet PRICED FROM $500,000s Sales Centre: NORTH ROAD
FOSTER AVENUE
548 Foster Avenue Coquitlam
blackandwhites.ca NORTH
604.998.8998
Prices and sizes are approximate. E&OE. Sales and Marketing by Intracorp Realty Ltd. Intracorp Foster Avenue Limited Partnership
intracorp.ca
SMART HOMES JUST STEPS TO THE EVERGREEN LINE.
MOVE IN THIS SPRING.
NET GST INCLUDED! E LAKE AV REGAN AVE
RD
BURQUITLAM STATION
CL A RK E
NORTH RD
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SMITH AVE
COTTONWOOD AVE
SALES CENTRE + DISPLAY HOME Burquitlam Plaza, 408 – 552 Clarke Rd., Coquitlam. Open Daily Noon – 5pm (except Fridays) Limited time offer. Prices subject to change without notice. Please see our sales representative for further details and exact terms of this offer. E. & O.E.
604.492.0222 REGANSWALK.CA
Marcon Regan Homes Ltd.
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BURNABY • NEW WESTMINSTER
FRIDAY, JANUARY 9, 2015
Looking for a new home? Start here.
R E A L
E S T A T E
W E E K L Y
ABBOTSFORD’S HUDSON’S LOFT 2: YALETOWN FEEL WITHOUT THE PRICE TAG Nestled in the shadows of Mount Baker and blessed with rolling hills and river basins, Abbotsford for many years was known as the Bible Belt of BC and home to rural farmland. How things have changed! Abbotsford is emerging as one the fastest-growing cities in BC. Today, it’s a vibrant, modern urban metropolis, which has managed to retain its rural country charm. This city is also where you will discover one of the most exciting new residential projects in the master planned community of Central Park Village – Hudson’s Loft 2. This boutique-style six-storey building consists of a collection of 67 homes, comprising studio and den, two bedroom and den, lofts and penthouses, starting at an incredibly affordable $99,900. “The two-level penthouse apartments are located on the top two floors and fea-
ture beautiful green rooftop terraces,” says Kiran Rai, marketing director, Platinum Project Marketing, adding Phase 1 sold out in a single day – a first for Abbotsford. “The lofts are on the third and fourth levels and they have 18-foot ceilings in the living space.” To celebrate the launch of Phase 2, on Saturday, December 6, award-winning Wiebe Group & Diverse Properties hosted a Sale Day with lots of great incentives. Each open-concept residence features engineered hardwood floors, nine-foot ceilings throughout and expansive windows. The Zen-like bathrooms are resplendent with marble countertops, full height frameless floating mirror and soaker tub. The kitchens will inspire you to cook with its contemporary wood grain or white Shaker cabinetry, engineered quartz countertops, Frigidaire stainless steel appliance
package and sleek stainless steel undermount double sink (in most units). It doesn’t stop there. Other features include either a terrace or balcony offering sweeping views of Mount Baker, the forested trails in Horn Creek Park, as well as lots of green space. Location, Location, Location: When Hudson’s Loft 2 residents take occupancy in February 2016, they will be residing in the heart of a burgeoning community, only 10 minutes away from the downtown core. When this 9.5 acre neighbourhood is completed, it will be home to a village market and café, restaurants, local businesses/ commercial space and lots more. The homes are close to big box retailers such as The Real Canadian Superstore, Seven Oaks Shopping Centre and West Oaks
Shopping Mall. For art and culture lovers, the Abbotsford Entertainment and Sports Centre, Abbotsford Art Gallery, Tradex Centre and movie theatres are nearby. In addition, you are minutes from the West Coast Express, and a 45-minute drive to downtown Vancouver via the Port Mann Bridge. Whether you are a first time buyer, an investor or simply a home buyer who appreciates superior quality, this is your opportunity to live in a new home that melds the best of urban life, all for a fantastic price. The sales centre and two fully decorated display homes, located at 3068 Gladwin Rd, Abbotsford, are open noon to 5 p.m. (except Fridays). For more information, call 604-8648948, email info@hudsonsloft.ca or visit www.hudsonsloft.ca. Tentative occupancy: February 2016.
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