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14

for first time home buyers

commercial & residential listings

ask an appraiser PAGE13

meet our realtors

速 pg.08

home sales Continues at Brisk Pace

&


 Howe St Davie St

 

Richards St

Robson St

Helmcken St

Seymour St

Smithe St

Nelson St

Granville St


5611 Goring St, Burnaby North

#1703

#502

4380 Halifax St, Burnaby

farhood hashemian

farhood hashemian

1,278 sq.ft • 1 bedroom & 2 bathrooms Underground, visitor parking • South East corner unit Stainless steel appliances Close to shopping centre, Skytrain, and restaurants

872 sq.ft • 2 bedroom & 2 baths Close to Skytrain & shopping Built by Bosa, great condition

$578,000

3355 Cypress Pl, WestVancouver

#502

$379,000

3135 Chestnut Cres, Anmore

soroush zonuzi

camron mackenzie

1950 sq.ft • 2 bedroom & den Panoramic south ocean view 190 sq.ft balcony

4,800 sq.ft with .88 of an acre Minutes from Port Moody 6 bedrooms, 4 bathrooms & 2 kitchens Two blocks from Buntzen Lake.

$1,085,000

$1,548,000


Home Sales Continue at Brisk Brisk Pace Pace

T

he British Columbia Real Estate Association (bcrea) reports that Multiple Listing Service® (mls®) residential sales in the province climbed 66 percent to 8,565 units in August compared to the same month last year. The average mls® residential sales price in the province climbed 12 per cent to $471,078 from $421,685 in August 2008. “Homes sales continued at a rapid pace in August,” said Cameron Muir, bcrea Chief Economist. “Attractive home prices and low mortgage rates were key drivers in the market.”

bc mls® Residential Sales unit 10,000

seasonally adjusted source: bcrea

mls® sales

Trends

8,000 6,000

The number of active residential listings declined 20 percent over the past year, with August posting 26 percent fewer active listings than the peak in December 2008 (seasonally adjusted). “Home prices edged higher in many markets over the summer months as declining inventories created competition among homebuyers for the best properties.” Increased home sales, reflecting stronger demand, and fewer homes for sale, point to increased new home construction next year. Canada Mortgage and Housing Corporation (cmhc) forecasts 16,250 housing starts in British Columbia this year and 22,000 starts in 2010. “Key drivers of housing demand are showing signs of improvement,” noted Robyn Adamache, cmhc’s Senior Market Analyst. “Housing demand from underlying population growth supports more housing starts than the numbers for the first half of the year suggest.” Home construction will pick up later in 2009 and in 2010. Low mortgage interest rates, population growth and tighter resale market conditions will boost new home construction. Source: British Columbia Real Estate Association & Canada Mortgage and Housing Corporation

4,000 2,000 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

1085 Chamberlain Dr, NorthVan

iman mogadam 3,885 sq.ft • 4 bedrooms, 4 baths Fabulous family home in immaculate condition, terrific views

$967,000

837 Clements Ave, NorthVancouver

831 Clements Ave, NorthVancouver

davor milidrag 3,960 sq.ft Invest or build in this very desirable area

davor milidrag 3,960 sq.ft Invest or build in this very desirable area

$579,000

$579,000


302 1661 Fraser Av, Port Coquitlam

406 1723 Alberni St, Vancouver

#

hamidreza mokhtarian 1052 sq.ft • 2 bedrooms, 2 baths Quiet place Close to school, shopping & transit

#

yvon justin cote 670 sq.ft • 1 bedroom, 1 bath, & den New flooring, granite counters, etc maintenance assessment of paid for

120 3176 Plateau Bv, Coquitlam

omid mashinchi 1,265 sq.ft • 2 bedrooms & 2 baths Some work in progress, paid for 2 private decks

601 1030 W Broadway, Vancouver

#

omid mashinchi 519 sq.ft • 1 bedroom, 1 bath, parking Great use of space • Open balcony Floor-to-ceiling windows

2 Tercel Ct, Mill Bay

$419,000

#lt

#lt

27 Sentinel Dr, Mill Bay

4 Tercel Ct, Mill Bay

omid mashinchi 19,805 sq.ft Fully serviced & flat, easy to build Most prestigious subdivision in the area

$337,500

$299,900

#lt

soroush babaeian 680 sq.ft • 1 bedroom & bath View of street scape, Lost Lagoon Pets Allowed, Rental Allowed

$359,900

$367,900

#

1703 1239 West Georgia St, Coal Harbour

#

$395,000

#lt

29 Sentinel Dr, Mill Bay

omid mashinchi 18,621 sq.ft Fully serviced & flat, easy to build Most prestigious subdivision in the area

omid mashinchi 13,993 sq.ft Fully serviced & flat, easy to build Most prestigious subdivision in the area

omid mashinchi 19,913 sq.ft Fully serviced & flat, easy to build Most prestigious subdivision in the area

$325,000

$295,000

$285,000


568 Sentinel Dr, Mill Bay

omid mashinchi 4,500 sq.ft • 5 bedrooms & 2 baths Sensational Ocean views. 3-car garage & 2 levels of luxury living

574 Sentinel Dr, Mill Bay

omid mashinchi 3,555 sq.ft • Bright open floor plan 5 bedrooms, 2 kitchens & 2 baths Large rec room, graceful formal entry

625 Sentinel Dr, Mill Bay

omid mashinchi 3,091 sq.ft • 3 bedrooms & 2 baths Vaulted ceilings • 22x20 deck Custom millwork & rich wood floors.

$788,000

$898,000

$714,000

feature residential listing

5270 Kew Rd,WestVancouver

T

soroush babaeian

his gracious home contains 6 bedrooms, 6 baths and 2 kitchens, totaling 6230 square feet. It’s fully renovated with indoor pool and spa, hardwood floors, beautifully tiled bathroom, granite counter-top, stainless steel appliances, crown moldings and more. The home provides some ocean view and close proximity to the beach.

$1,690,000


2357 Coopers Hawk Rise, Mill Bay omid mashinchi 2924 sq.ft executive estate lot 3 bedroom & 2 bathrooms Large open-plan kitchen

2336 Coopers Hawk Rise, Mill Bay

omid mashinchi 3,334 sq.ft • 4 bedrooms, 5 baths Rich hardwood floors, crown molding & baseboards

218 350 E 2nd Av, Vancouver

soroush zonuzi Top Floor 2-Bedroom, Large Den Corner Suite with 12’ ceilings 2 large balconies and 2 parking spaces

$405,000

3006 233 Robson St, Vancouver

#

#

soroush babaeian 498 sq.ft • Studio tv tower 2 Laminated floor

camron mackenzie 1086 sq.ft 2 bedroom, den, 2 baths 30k of extensive renovations/updates Private, secured, well appointed.

$215,000

$495,000

413 2628 Maple St, Port Coquitlam

$798,000

431 27358 3rd Av, Langley

#

#

omid mashinchi 4,773 sq.ft • 4 bedrooms, 4 baths Grand entry • Media room Open-plan kitchen, living & dining

$698,800

$748,000

leigh walker 1,042 sq.ft • 2 bedrooms, 1 bath, den Recently been renovated Has a sleek, contemporary feel Mountain view & near Olympic Village

2369 Coopers Hawk Rise, Mill Bay

110 2628 Maple St, Port Coquitlam

#

soroush zonuzi Garden home with luxury finishing Double edge granite Covered patio & 2 parking spaces

$445,000

$339,000

802 2982 Burlington Dr, Coquitlam

#

farhood hashemian 720 sq.ft • 1 bedroom & den Walking distance to Coquitlam centre Brand New

$399,000


soroush babaeian

davor milidrag

hamidreza mokhtarian

nataliya pick

farhood hashemian

hossein ameli

shiraz mohamed

marie magee

lino de marchi

soroush zonuzi

iman mogadam

camron mackenzie

karolina figarski

mike mehin


justin yvon cote

naser fazli

michael t. hickey

james m. walker

christopher howard

ron sanyal

cici

dua arun

alan charlton

leigh walker

omid mashinchi

naghmeh manshadi

milad khavari

bruce keshavarz


our realtor®

James M.Walker

I

have dedicated my Real Estate career to assisting people like you find their perfect home by offering such services as; • Weekly Home Buying 101 Q & A Seminars • Weekly Home Finders Search Updates • Free Home Buyer Information Guides • Introductory Home Tours • Home Buyer Assistance Program (paid legal fees for the purchase of your home, up to $800. Conditions apply). By focusing primarily on purchasers I am able to place all my attention on the needs and wants a first time buyer, investor, second or third time buyer may have.

595 Bay Bluff Pl, Mill Bay

5 9151 Forest Grove Dr, Burnaby

#

omid mashinchi 3,474 sq.ft • 4 bedrooms & 4 baths Custom built home with Ocean views Walking distance to the Village, beaches

karolina figarski 1,250 Sq ft • 3 bedrooms & 2 baths Great floorplan & high quality upgrades Lots of storage & large private patio

$898,000

$380,000

Everyone and every home are different, the difficulties and turbulence that can be associated with the purchase of a home vary. This is why there is never any pressure; during the whole process we take baby steps to ensure your plans to own a home are seen through and to guarantee I am assisting you to the best of my abilities. With the right information incredible deals are waiting to be made. I have assisted many renters who previously paid $1200 - $2500 or higher in rent and now own homes. If you are thinking about buying a home, please contact James Walker at 604.218.2113.

760 Highpointe Dr, Kelowna bruce keshavarz 5,401 Sq ft • 4 bedrooms & 5 baths City view, lake view, mountain view Luxury house under construction

$2,850,000


feature listing

Citrus Nightclub

20299 Industrial Ave, Langley

C

itrus Nightclub is located in the core of downtown Langley. With a reputation of having the biggest parties outside downtown Vancouver, it has been the local hotspot for trendy young adults for the last 25 years. It is also a stop for up-and-coming djs and artists, giving the venue a classy atmosphere. The total area is 10,000 sq.ft with a full industrial kitchen, highway access, and paved parking lot. The Citrus Nightclub currently has 1,600 paying members and is always packed on the weekends. This sale also includes liquor primary license for 436 seats and over $500K in equipment assets. Lease financing is available oac for $12.50 per sq.ft. For more information please contact Michael Hickey at 604.762.6439.

$475,000


Commercial Listings

Bean Around the World

The Narrow Lounge

255 Powell St,Vancouver East

1898 Main St,Vancouver East

michael hickey

michael hickey

656 sq.ft High traffic location Very lucrative, very busy owner/operator coffee shop

2,200 sq.ft • Pub/lounge restaurant High traffic area • Visual exposure Many write-ups in newsprint

$219,000

Sweet Beginnings Wedding

#105

1307 Broadway,Vancouver West

$179,000

Nanaimo Athletic Club

1451 Bowen Rd, Nanaimo

michael hickey

michael hickey

Very profitable wedding consulting franchise Includes contracts with 14 franchise locations $100K of rental inventory. Vancouver location & the franchise for sale: $374,000

1,600 paying members. includes over $500K in equipment assets. Lease financing available oac

$189,000

$499,000


Q&A

Q. Why do bc Assessment values differ so much from the actual Appraised values? A. Assessed Value refers to the value for tax roll purposes and believe it or not, both the Assessed Value and Appraised Values are both based on Market Value in bc. The bcaa value is the market value estimated as of July 1st of the previous year and a current market appraisal is based on the current date. An assessment is often appraised on a bulk basis, lumping many similar homes in the same neighbourhood together. The Assessor may also not be aware of any updates or renovations that a home may have whereas an Appraisal would take this into account. Q.What is Economic Life and how is Remaining Economic Life calculated? A. The answer to this one brings back memories of appraisal exams. Economic life is the total period of time which the improvements (house/buildings) contribute to the overall property value. The total Economic Life of a typical BC home is 65 years. Economic life and physical life can differ widely and physical life usually exceeds Economic life. Renovations and updates can

Mortgage Cheat Sheet

: ask an appraiser

by leigh walker

increase a properties physical and Economic Life and poor maintenance can shorten it. Increases in land value can also have a negative impact on remaining economic life as older homes are torn down to make way for new ones, it makes less “economic” sense to keep the older home standing. Remaining Economic Life (rel) is the estimated time period which the improvements continue to contribute to property value. An appraiser estimates the rel in part by interpreting the economic conditions, attitudes and reactions of buyers in the market. The Remaining Economic Life is calculated by subtracting the Effective Age from the Total Economic Life. Economic Life – Effective Age = Remaining Economic life A 40 year old home that has had substantial renovations may have an effective age of 30 years. 65 years – 30 years = 35 years Remaining Economic Life(rel) Q.Who owns the appraisal; the person who pays for it or the Lender/Broker that orders it? A. I get asked this one a lot… if I only had a nickel… The Appraiser performs

Mortgage Rate

an appraisal for his/her Client and the Client is any party for whom the appraiser performs a service. This is usually the person who engages the Appraiser to complete the assignment and this may or may not be the person who actually pays for the appraisal. Often the Lender/Broker will order the appraisal from the Appraiser but the fee is paid by the home owner and in this case the Lender/Broker is the Client. A home owner who feels that “I paid for it so I want a copy” may request a copy from the Appraiser who may, in some cases, authorize a copy to be released to the home owner. This may result in an unhappy home owner so it is important to understand and explain the Appraiser/Client relationship up front in order to avoid any conflict after the appraisal is complete. It should also be noted that an Appraiser should never release and appraisal report to anyone without the consent of the Client.

presented by leigh walker 604.313.7607

Monthly Payment (for every $100,000 loan and 300 installments)

2% 2.25% 2.5% 2.75% 3% 3.25% 3.5% 3.75% 4% 4.25% 4.5% 4.75% 5% 5.25% 5.5% 5.75% 6% 6.25% 6.5% 6.75% 7% $424 $436 $449 $461 $474 $487 $501 $514 $528 $542 $556 $570 $585 $599 $614 $629 $644 $660 $675 $691 $707


7tips

for First-Time Home Buyers

A

year after the financial collapse of 2008, the housing market is very different than it was before the foreclosure crisis. Here are seven bits of wisdom from economists and financial planners for anyone contemplating a home purchase today:

1. Old-fashioned basics are more important than ever. The safest way to purchase a home is to put down 20 percent on a fixed-rate, 30-year (or less) mortgage. 2. Don’t become overconfident about income growth. Even though buyers in their 20s and 30s will likely see their incomes grow more quickly than previous generations, it is important to act sensibly when borrowing. 3. Anyone contemplating adding children to the family should calculate whether they could live on one income because having both halves of a couple work may turn out to be impractical. 4. Include a maintenance budget. Even new homes need upkeep and repairs. 5. Buyers who can’t afford their dream home now should opt for a starter home where they can save money each month for what they really want. 6. Consider a property that can be expanded and improved down the road when money is available. 7. No two buyers are the same, but they should all feel confident with the loan they enter into, no matter the size of the mortgage. Source:The NewYork Times, Ron Lieber (09/12/2009)

Coffee Shop

105 CONFIDENTIAL, Richmond

#

alan charlton 857 sq.ft • Coffee franchise Very strong sales growth & potential Great lease

Fitness Challenge

CONFIDENTIAL

9 19989 96th Av, Langley

143 Confidential, Langley

michael hickey $20K/month in receivables $200K in equipment assets Lease financing available OAC.

michael hickey Long standing well known hardwood floor refinishing business Easy to operate, owner retiring

#


ld so Fitness Unlimited

150, 2251 no.5 Rd, Richmond

#

Italian Restaurant

204 1610 Robson St,Vancouver

#

michael hickey 2,000 active members, $56,000/month new equipment & renovations ($700K) Highway access

milad khavari Well established Italian restaurant Low rent $1200/mo 3yr lease + option Full kitchen $3000+ Income/mo

$370,000

$55,000

Grocery/Smoke Shop

Budget Blinds

Coffee Shop

213 1610 Robson St,Vancouver

#

milad khavari Deli/Coffee Shop, loyal customers Low Rent $1,600/month, Espresso machine, dishwasher and coolers.

$55,000

Dollar Deals and More

4090 Hastings St, Burnaby

3916 Hastings St, Burnaby

601 Carnavon St, New West

milad khavari Grocery/smoke Shop, good exposure Low Rent $1,400/month Easy to run, good hours

michael hickey Annual Sales of $360k Home-based Business must be relocated

michael hickey 2,500 sq.ft Over $700/day in sales Corner location, tons of walk-by traffic

$109,000

$55,000

Docetto Cafe

Baba’s Bakery

2967 Broadway bb w, Kitsilano

1682 Davie St,West End

michael hickey 530 Sq ft. Additional seating on sunny patio Over $400/day in earnings

michael hickey 1,100 Sq ft. Public Transit Nearby • High traffic area In business for 11 years

$99,000

Northland Laundry

111 12th St E, Central Lonsdale michael hickey 700 Sq ft. Many service contracts in place. Room to expand business



Royalty Listings 02