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West Vancouver property landslide


landslide

The District of West Vancouver will complete remediation work in the British Properties after illegal landscaping work triggered a landslide that damaged a tributary of fish-bearing Rodgers Creek. And the hefty bill which estimated to be between $100,000 and $150,000 - will be going to the owner of that home.Council resolved to undertake the work at 2785 Chelsea Close and bill the homeowner last week.The property had a significant landslide after the owner, in defiance of a district stop-work order, continued trucking in loads of fill to elevate one spot of his property.The district of West Van is not anticipating long-term environmental damage but local Streamkeepers are monitoring the creek closely.The district has hired an excavation company to remove tonnes of fill to stabilize the slope. Once that's done, it will have to be hydroseeded to increase the soil stability and to slow erosion. Despite failing to get a necessary permit, disobeying a stop-work order and failing to do the remediation work himself when asked, the district has reason to believe it will be able to collect the funds from the owner."Under the community charter, we can collect those costs in the same way we would collect property taxes," said the district's director of communications. "However, I have it from our manager on site that he's already had conversations with the property owner about how he'll go about covering the costs of the remediation work. We don't anticipate any issues there."

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Vancouver Real Estate Market Update, May 2014


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Home buyer demand increases across G.Vancouver housing, May 2014
1. MLS® statistics tell us that there’s more home buyer demand today than at any point over the last three years. Sales-to-active-listings ratio currently sits at 20.4% in G.Vancouver, which is the first time that this measure has been above 20% since June 2011.
2. Total number of properties currently listed for sale on the MLS® system in Greater Vancouver is 16,072, a 3.6 % increase compared to April 2014.
3. The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $624,000. This represents a 4.3% increase compared to May 2013.
4. Sales of detached properties in May 2014 reached 1,453, an increase of 19.9% from the 1,212 detached sales recorded in May 2013.
5. Sales of apartment properties reached 1,286 in May 2014, an increase of 13.2% compared to the 1,136 sales in May 2013. The benchmark price of an apartment property increased 3.2% from May 2013 to $377,500.
6. Attached property sales in May 2014 totalled 547, a 2.4 per cent increase compared to the 534 sales in May 2013

CONCLUSION: Home prices have experienced consistent yet modest increases in our region since the beginning of 2013

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Secondary suites in West Vancouver. Дома Вэст Ванкувера


Tuesday, May 17, 2011

Tuesday, May 17, 2011 – West Vancouver, BC: Council has given preliminary approval to extend the deadline to register secondary suites under alternative life saving standards. The new deadline of November 30, 2011 has been given first, second and third readings. Final adoption is anticipated Thursday, May 19, 2011. The alternative life saving standards incentive program means that owners will not have to comply with the full BC Building Code which could result in costly renovations, such as the installation of a full sprinkler system. The alternative life saving standards ensure a safe suite for tenants, without significant burden to the home owner.

The secondary suite program  was launched in West Vancouver on March 2010 to authorize existing suites and expand the range of housing options in the community. Since the program began, 370 applications have been made and over 210 suites have been inspected and approved.

After the incentive expires, owners will be required to comply with the full BC Building Code Standards which may incur extra costs as a result of necessary renovations. An alternative to registering a suite is decommissioning. This is an option for home owners who do not wish to have a legal suite in their home. It is a simple process that involves removing the cooking facilities and completing a declaration. For more information please call 604-925-7152

 

information has been provided by city hall of West Vancouver

 

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New Development, Alexandra Gate


Grand Opening Event on Now

There are a total of 193 homes to choose from at Alexandra Gate: you can own a stylish Apartment from $188,800 or a luxurious City Home from $388,800!

These exceptional homes are priced below market value for our presale campaign. Oris Development and the Steveston Real Estate team are pleased to invite you to attend a special VIP event at our brand new Discovery Centre for our latest community, Alexandra Gate, prior to its Grand Opening on Saturday, January 21st!
To explore the exciting purchase opportunities that await you and learn about Alexandra Gate's sister project, REMY, call the Realtor Natalya or Oleg Tsaryov. They are ready to answer questions and provide an overview of Alexandra Gate's plentiful key features!

We are extremely proud of the communities we build, and the relationships we forge. The anticipation to share this opportunity with you is finally over and we look forward to visiting with you January 19th and 20th. As this VIP event takes place before the public Grand Opening, you will have access to every unit type plus special upgrade and pricing options – the first 20 purchasers will receive up to $10,000 in free upgrade options. Parking is available in the underground parkade; simply follow the directional arrows once you've arrived on-site. No RSVP required, we look forward to seeing you later this week!



West Vancouver Market Update


As we approach the end of 2011 real estate prices in most urban areas of British Columbia continue to rise. The Real Estate Board of Greater Vancouver is showing gains in average price of over 10% from 2010.Yet many clients, especially those in the under $500,000 price point in Greater Vancouver, are wondering why their properties are not reflecting this increase.

Vancouver is still in a recovery phase from the drop in price in the lower end of the market which occurred during the financial crisis of 2008. The increase in price seen "on average price" is greatly affected by the higher end of the market, which has seen significant gains over the past year. These gains are reflected in the increase of purchasers from Asia, particularly China.

 

This influx of buyers, not seen on this scale since the 1990s, has created a market which is a "top down" market. Most real estate markets are supported by the bottom of the market. This means the first time buyers buy an apartment from someone who is moving up to a townhouse who is buying from someone moving from the townhouse to a house.

In a top down market, offshore buyers purchase more expensive homes from existing owners who may be downsizing or making a sideways move. When prices hit a certain point, these offshore buyers have to look at smaller houses as they can no longer afford what they may have purchased a year ago. Thus the market is now supported from the top down.

With net-inmigration still over 50,000 per year, Vancouver should do very well over the next 5 years. The lower end of the market is just starting to react to the top down conditions. Especially as turbulent stock markets push investors back to brick and mortar investments such as real estate and precious metals.

Most of the buyers now consentrating to purchase real estate in West Vancouver. The most popular areas in West Vancouver today are Ambleside, Dundarave and British Properties.



West Vancovuer Real Estate News for October 2011


Greater Vancouver at lower end of balanced housing market

With a sales-to-active property listings ratio of 15 per cent, the Greater Vancouver housing market continues to hover at the lower end of a balanced market and has been trending in that direction over the past five months.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties on the region’s Multiple Listing Service® (MLS®) system reached 2,317 in October, a 1 per cent decrease compared to the 2,337 sales in October 2010 and a 3.2 per cent increase compared to the previous month. Those sales rank as the second lowest total for October over the last 10 years.

“Right now, prospective home buyers have a good selection of properties to choose from and more time to make decisions,” Rosario Setticasi, REBGV president said. “Home sellers should be mindful of local market conditions to ensure they are pricing their properties competitively.”

New listings for detached, attached and apartment properties in Greater Vancouver totalled 4,374 in October, which is on par with the 10-year average. This represents an 18.3 per cent increase compared to October 2010, when 3,698 properties were listed for sale on the MLS®, and a 23 per cent decrease compared to the 5,680 new listings reported in September 2011.

The total number of properties listed for sale on the Greater Vancouver MLS® system currently sits at 15,377, which is 9.3 per cent higher than the 14,075 properties listed for sale during the same period last year. October was the first month that the total number of property listings showed a decrease this year.

The MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver over the last 12 months has increased 7.5 per cent to $622,955 in October 2011 from $579,349 in October 2010. However, since reaching a peak in June of $630,921, the benchmark price for all residential properties in the region has declined 1.3 per cent.

Sales of detached properties in October reached 974, which represents virtually no change from the 976 detached sales recorded in October 2010, and a 34.5 per cent decrease from the 1,487 units sold in October 2009. The benchmark price for detached properties increased 11 per cent from October 2010 to $884,778, but decreased 1.3 per cent compared to the previous month.

Sales of apartment properties reached 958 in October, a 2.6 per cent decrease compared to the 984 sales in October 2010, and a decrease of 40.4 per cent compared to the 1,607 sales in October 2009. The benchmark price of an apartment property increased 3.2 per cent from October 2010 to $402,702, but decreased 0.7 per cent compared to the previous month.

Attached property sales in October totalled 382, a 1.3 per cent increase compared to the 377 sales in October 2010, and a 37.4 per cent decrease from the 610 attached properties sold in October 2009. The benchmark price of an attached unit increased 6.5 per cent between October 2010 and 2011 to $519,455, and increased half a per cent compared to the previous month.

Download the complete stats package by clicking here. 

 

 

all info has been provided by real estate board of Greater Vancouver



Housing starts to hold steady in 2011 and 2012


Canada Mortgage and Housing Corporation says housing starts should hold steady for the rest of 2011 and into next year.

The agency said its national point forecast is for 183,200 units started in 2011, with about 183,900 next year.

It's third-quarter housing market outlook says starts have been strong in the last few months, but are expected to moderate closer in line with demographic fundamentals.

It said that immigration and low mortgage rates are supporting Canada's housing sector, despite the recent financial turmoil in the markets.

CMHC's point forecast for existing home sales is 446,700 units, which is essentially the same level as last year.

It says sales are expected to grow “modestly” in 2012, with a point forecast of 458,000 units.

The average price increased in the first half of the year due to more higher-end homes being sold, but the average price is expected to moderate in the end of 2011.

It says growth next year should be more modest.