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Vancouver Opportunities – A Market in Motion

Introduction

Vancouver’s real estate market is constantly evolving, creating unique opportunities for buyers and sellers alike. Whether you’re looking to secure a luxury property, position your home to stand out, or simply understand what’s happening in the market, this shift presents exciting possibilities.

With over 21 years of experience in Vancouver real estate, I’ve witnessed how market changes open doors for those ready to act strategically. Let’s dive into what this means for you.

1. What This Market Shift Means for Buyers

As the market adjusts, buyers have access to opportunities that were previously out of reach. With more negotiable pricing in premium areas, it’s an ideal time to explore options for long-term value.

Key Takeaways for Buyers:

• Negotiable Pricing: Shifts in the market have created more room for negotiations, particularly in high-end neighborhoods.

• Premium Properties: Now is the time to secure homes with features like waterfront views, smart technology, and wellness spaces at adjusted prices.

• Expert Guidance: Partnering with a knowledgeable agent ensures you identify opportunities before they’re widely recognized.

2. What This Market Shift Means for Sellers

For sellers, this is the moment to focus on positioning your property to stand out in a competitive market. With buyers seeking homes that align with lifestyle and value, showcasing unique features is key.

Key Takeaways for Sellers:

• Highlight Unique Features: Properties with energy-aligned spaces, smart home upgrades, and prime locations continue to attract strong interest.

• Strategic Marketing: Professional staging, photography, and targeted advertising can make your property irresistible to buyers.

• Market Savvy: Pricing your property correctly in today’s market can lead to faster sales and better offers.

3. Key Trends to Watch in Vancouver

As Vancouver’s market evolves, here are the trends driving opportunities:

• Energy-Efficient Homes: Buyers are prioritizing sustainability and wellness in their property choices.

• Shifting Buyer Focus: While luxury hubs like Yaletown and Coal Harbour remain popular, emerging neighborhoods are gaining traction for their lifestyle appeal.

• Long-Term Investments: Market stability and ongoing demand make Vancouver an ideal location for property investment.

4. Why Expertise Matters in This Market

Navigating a dynamic market requires more than just understanding trends—it takes experience and insight. With a deep understanding of Vancouver’s neighborhoods and a client-first approach, I help buyers and sellers align their goals with market opportunities.

Whether you’re exploring high-end properties or looking to make your listing stand out, working with an expert ensures your next move is strategic and successful.

Conclusion

Vancouver’s real estate market is full of opportunities, whether you’re buying your dream home or positioning your property for success. The key is to act strategically and stay informed.

Are you ready to explore what’s possible? Let’s connect and make your real estate goals a reality.

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Vancouver’s Evolving Housing Landscape: What You Need to Know

Vancouver’s real estate market is constantly evolving, and recent changes in both zoning and interest rates are reshaping the housing landscape. These shifts bring exciting possibilities for current homeowners, prospective buyers, and investors looking to make strategic moves. Here, we explore what these changes mean for you and how they might impact the market in the coming months.

Zoning Reforms: Expanding Housing Options and Affordability

In an effort to address Vancouver’s housing challenges, new zoning reforms now permit the development of up to eight homes on a single lot in neighborhoods previously limited to single-family residences. This change is part of the city’s commitment to increasing housing options and making homeownership more accessible. By allowing for diverse housing types like townhomes, triplexes, and laneway houses, Vancouver is creating more opportunities for families, singles, and seniors alike to find suitable housing options within the city.

These new zoning rules aim to provide a balanced approach to urban living, fostering community diversity and offering options for those who may have previously been priced out of certain neighborhoods. By densifying housing in a way that integrates with the character of Vancouver’s established neighborhoods, these reforms can help alleviate the demand for affordable housing while maintaining the city’s unique appeal.

For homeowners, this presents an opportunity to maximize the value of their properties, especially for those who may wish to add additional units for rental income or family members. For buyers and investors, this shift signals a wider range of property types entering the market, which could lead to more affordable purchase options.

Interest Rate Cuts: A Positive Trend for Buyers

The Bank of Canada’s recent interest rate cuts are another significant factor influencing the Vancouver real estate market. With borrowing costs coming down, more buyers are finding it feasible to enter the market, leading to an increase in sales activity. October saw a noticeable uptick in home sales, demonstrating that lower interest rates are indeed making an impact.

For potential homeowners, this means more favorable borrowing conditions, which can make a significant difference in affordability over the long term. For current homeowners considering refinancing or using their home’s equity for investments, the lower interest rates offer a unique opportunity to reduce monthly mortgage payments or free up funds.

How These Changes Affect You

As Vancouver embraces a more flexible approach to housing, these changes offer residents a chance to take advantage of a more dynamic market. Here are some key takeaways for different types of property owners:

• Homeowners: With zoning changes allowing for multiple units on single lots, homeowners may consider expanding their property’s potential by adding rental units or exploring multi-family living options. This not only adds to property value but can also generate extra income.

• Buyers: For those entering the market, the current combination of lower interest rates and expanded housing options is ideal. From townhomes to laneway houses, there are more affordable alternatives now than ever before. Buyers should explore these options with a real estate professional to find the best fit.

• Investors: Vancouver’s real estate is seeing renewed interest from investors who are taking advantage of the favorable conditions. Whether investing in new developments or considering properties with rental potential, there’s a strong case for diversifying portfolios in Vancouver’s market.

Staying Informed and Making Strategic Decisions

Navigating these changes can feel complex, but staying informed is crucial. Vancouver’s market is evolving toward a more inclusive, diversified, and potentially more affordable housing environment. By understanding these reforms and taking advantage of current market conditions, residents and investors alike can make the most of the opportunities available.

If you have questions about how these zoning reforms and interest rate changes may impact you personally, or if you’re curious about what’s possible in this new landscape, don’t hesitate to reach out. As a Vancouver-based real estate professional with a deep understanding of the city’s evolving market, I’m here to help you navigate the changes and explore what’s possible for your unique situation.

Let’s connect and discuss how Vancouver’s evolving real estate landscape can benefit you.

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The Ultimate Guide to Biohacking Your Home for Maximum Health Benefits

Biohacking your home environment is a powerful way to enhance your overall well-being and optimize your health. This guide explores how you can transform your living space into a sanctuary that supports both your physical and mental health, leveraging technology and simple wellness practices.

1. Clean Air for Clear Lungs

Start with the basics: air quality. Integrating advanced air purifiers into your home helps eliminate pollutants, allergens, and pathogens, ensuring the air you breathe is as beneficial as possible. Opt for purifiers that handle a high volume of air and can filter out particles as small as 0.3 microns.

2. Lighting That Lives with You

Circadian lighting systems are next-level biohacking tools. These smart lights adjust their color temperature and brightness based on the time of day, aligning with your body's natural rhythm. Such systems can boost your mood, energy, and productivity by improving sleep quality and reducing eye strain.

3. Water Quality that Works for You

Don't overlook the importance of hydration with optimal water quality. High-tech water filters can remove contaminants and even adjust pH levels to ensure your water supports both your health and your culinary needs.

4. Temperature and Humidity Control

Smart thermostats and humidity controllers can make significant inroads in your comfort and health. These systems adjust in real time to your preferences, reducing the risk of respiratory issues and skin problems, which are often exacerbated by poor humidity and temperature control.

5. Creating Calm Spaces

Incorporate elements that foster tranquility. This could be an area dedicated to meditation, surrounded by plants that increase oxygen levels, or sound systems that play therapeutic frequencies. The key is to create a space that allows you to disconnect and rejuvenate.

Conclusion

Transforming your home with these biohacking essentials doesn’t just enhance your property's value; it fundamentally improves your quality of life. By making these smart, health-focused upgrades, you’re investing in a home that not only looks good but feels good too.

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Transforming Luxury Living: The Rise of Smart Home Technology

In the realm of luxury living, the fusion of elegance with cutting-edge technology is not just a trend but a revolution, transforming everyday experiences into extraordinary ones. Smart home technology, once a futuristic vision, has seamlessly woven itself into the fabric of luxury homes, redefining the essence of convenience, comfort, and sophistication.

The Heart of Innovation: Smart Kitchens

At the core of this technological transformation lies the smart kitchen—a space where functionality meets luxury in the most intimate manner. Imagine a kitchen where your refrigerator communicates with your smartphone to keep track of groceries, suggesting recipes based on what's inside. An oven that ensures your meals are cooked to perfection with just a touch of your screen, and a coffee machine that remembers how you like your morning brew and prepares it just right, every single time.

Lighting: Setting the Mood

But the innovation doesn’t stop at appliances. Consider the impact of smart lighting—adjustable, programmable lights that not only save energy but also adapt to your mood, the time of day, or the task at hand, enhancing both the ambiance and functionality of your living space. With smart lighting, a dinner party or a quiet evening at home is transformed, as these intelligent systems offer the perfect illumination for every moment.

Seamless Integration for Enhanced Well-being

This smart technology extends beyond mere convenience, touching on aspects of wellness and sustainability. Smart thermostats adjust your home's temperature for optimal comfort while minimizing energy use. Automated blinds open or close to utilize natural light efficiently, and air purifiers ensure that you're always breathing clean, healthy air.

Future Trends: Beyond Imagination

The future of smart home technology holds even greater promise. Innovations on the horizon aim to further personalize living spaces, making them even more responsive to our needs and desires. From AI-driven personal assistants that manage our schedules to wellness systems that monitor our health and adjust our home environment accordingly, the possibilities are endless.

The Value of Smart Luxury Homes

Investing in a smart luxury home goes beyond the allure of high-tech amenities; it's about embracing a lifestyle that values time, comfort, and well-being. These homes offer a sanctuary where every detail is tailored to enrich the living experience, promising not just a place to live, but a place to thrive.

Conclusion

The rise of smart home technology in luxury living is a testament to the incredible potential of innovation to enhance our daily lives. As we continue to explore and integrate these technologies, we open ourselves to a world of possibilities where our homes are not just dwellings but extensions of our desires and aspirations for a richer, more connected life.

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Empty Homes Tax to Increase to 3% for 2021 Tax Year

On November 25, 2020 City Council directed City staff to increase the Empty Homes Tax (EHT) rate to 3%. The rate will remain at the original 1.25% for the 2020 tax reference year. Properties deemed empty are subject to the tax on their assessed taxable value. Keep reading to learn more about the EHT tax rate and what it means for homeowners and renters! 


MOTIVE BEHIND THE EHT 

The motive behind the EHT is to encourage homeowners of vacant properties to place empty homes on the market as long-term rentals. Council is standing up for renters by raising the tax rate in order to increase the housing supply of rental properties in the city. Many homes currently remain empty the additional increase in the EHT tax will hopefully motivate owners to finally put these homes on the rental market.  


HISTORY OF THE EHT 

The EHT launched in 2017 and since then has been raised twice. In 2019 the rate was raised for the first time from 1% to the current rate of 1.25%. From the initial 1% rate the EHT will have tripled by 2021 at the new announced 3% tax rate. Vancouver home owners are required to submit a declaration each year to determine if their property is subject to the EHT. Council has approved a one-time extension for late declarations for the 2017 and 2018 vacancy reference periods to December 31, 2020. 


EHT INITIATIVES 

Net revenues from the tax are being reinvested into affordable housing initiatives. Since 2017, $61.3 million of net revenues from the EHT contributions have been provided to Vancouver’s affordable housing initiatives. Revenue collected was first used to cover the one-time implementation costs of $7.5 million and estimated annual operating costs of $2.5 million. Since the tax was implemented in 2017 the number of vacant properties has decreased by 25%. 

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Since the outbreak of the novel coronavirus (COVID-19), many of us are spending a lot more time at home. We’re all being called upon to avoid public spaces and practice social distancing to help slow the spread of this infectious disease. While it can be understandably challenging, there are ways you can modify your home and your lifestyle to make the best of this difficult situation.


Here are a few tips for creating comfortable and functional spaces within your home for work, school, and fitness. We also share some of our favorite ways to stay connected as a community, because we’re all in this together … and no one should face these trying times alone.


 

Begin with the Basics

 

A basic home emergency preparedness kit is a great addition to any home, even under normal circumstances. It should include items like water, non-perishable food, a flashlight, first aid kit, and other essentials you would need should you temporarily lose access to food, water, or electricity.


Fortunately, authorities don’t anticipate any serious interruptions to utilities or the food supply during this outbreak. However, it may be a good time to start gathering your emergency basics in a designated location, so you’ll be prepared now-—and in the future—should your family ever need them. 


 

Working From Home


Many employees are being asked to work remotely. If you’re transitioning to a home office for the first time, it’s important to create a designated space for work … so it doesn’t creep into your home life, and vice versa. If you live in a small condominium or apartment, this may feel impossible. But try to find a quiet corner where you can set up a desk and comfortable chair. The simple act of separating your home and workspaces can help you focus during work hours and “turn off” at the end of the day. 


Of course, if you have children who are home with you all day (given many schools and daycares are now closed), separating your home and work life will be more difficult. Unless you have a partner who can serve as the primary caregiver, you will need to help manage the needs of your children while juggling work and virtual meetings.


If both parents are working from home, try alternating shifts, so you each have a designated time to work and to parent. If that’s not an option, experts recommend creating a schedule for your children, so they know when you’re available to play, and when you need to work.1 A red stop sign on the door can help remind them when you shouldn’t be disturbed. And for young children, blocking off a specific time each day for them to nap or have independent screen time can give you a window to schedule conference calls or work uninterrupted.



Homeschooling Your Children


Many parents with school-aged children will be taking on a new challenge: homeschooling. Similar to a home office, designating a space for learning activities can help your child transition between play and school. If you’re working from home, the homeschooling area would ideally be located near your workspace, so you can offer assistance and answer questions, as needed.


If possible, dedicate a desk or table where your child’s work can be spread out—and left out when they break for meals and snacks. Position supplies and materials nearby so they are independently accessible, and place a trash can and recycling bin within reach for easy cleanup. A washable, plastic tablecloth can help transition an academic space into an arts and crafts area.

 

 If the weather is nice, try studying outside! A porch swing is a perfect spot for reading, and gardening in the backyard is a great addition to any science curriculum. 


In addition to creating an academic learning environment, find age-appropriate opportunities for your children to help with household chores and meal preparation. Homeschooling advocates emphasize the importance of developing life skills alongside academic ones.2 And with more meals and activities taking place at home, there will be ample opportunity for every family member to pitch in and help.



Staying Fit


With gyms closed and team sports canceled, it can be tempting to sit on the sofa and binge Netflix. However, maintaining the physical health and mental wellness of you and your family is crucial right now. Implementing a regular exercise routine at home can help with both.


If you live in a community where you can safely exercise outdoors while maintaining the recommended distance between you and other residents, try to get out as much as possible. If the weather is nice, go for family walks, jogs, or bike rides. 


Can’t get outside? Fortunately, you don’t need a home gym or fancy exercise equipment to stay fit. Look for a suitable space in your home, garage, or basement where you can comfortably move—you’ll probably need at least a 6’ x 6’ area for each person. Many cardio and strength training exercises require little (or no) equipment, including jumping jacks, lunges, and pushups. 


And if you prefer a guided workout, search for free exercise videos on YouTube—there are even options specifically geared towards kids—or try one of the many fitness apps available.



Socializing From a Distance


Even though we’re all being called upon to practice “social distancing” right now, there are still ways to stay safely connected to our communities and our extended families. Picking up the phone is a great place to start. Make an effort to reach out to neighbors and loved ones who live alone and may be feeling particularly isolated right now.


And while parties and playdates may be prohibited, modern technology offers countless ways to organize networked gatherings with family and friends. Try using group video conferencing tools like Google Hangouts and Zoom to facilitate a virtual happy hour or book club. Host a Netflix Party to watch (and chat about) movies with friends. Or plan a virtual game night and challenge your pals to a round of Psych or Yahtzee.


There are safe ways to connect offline, too. Rediscover the lost art of letter writing. Drop off groceries on an elderly neighbor’s porch. Or organize a neighborhood “chalk walk,” where children use sidewalk chalk to decorate their driveways and then head out for a stroll to view their friends’ artwork.


Of course, there’s one group of people who you can still socialize with freely—those who reside in your home. Family dinners are back, siblings are reconnecting, and many of us have been given the gift of time, with commutes, activities, and obligations eliminated. In fact, some families are finding that this crisis has brought them closer than ever. 

 

 

YOU ARE NOT ALONE

 

Even with all of the tools and technology available to keep us connected, many of us are still feeling stressed, scared, and isolated. However, you can rest assured that you are not alone. We’re not only here to help you buy and sell real estate. We want to be a resource to our clients and community through good times and bad. If you and your family are in need of assistance, please reach out and let us know how we can help.




Sources:

  1. CNBC -
    https://www.cnbc.com/2020/03/16/how-to-work-from-home-with-your-kids-during-the-coronavirus-outbreak.html
  2. TheHomeSchoolMom.com -
    https://www.thehomeschoolmom.com/benefits-of-homeschooling-2/
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Welcome to the Erickson - Yaletown's most prestigious address. Luxurious waterfront living awaits you in this gorgeous 2bedroom, 2 1/2 bathroom home complimented with custom millwork throughout, limestone tiles and counters,2 steamshowers, spa - inspired bathrooms, top of the line appliances,floor to ceiling windows,Air Conditioning, plus 2 car private garage with built in cabinets. The building features concierge, indoor pool,sauna/steam room and theatre. Relax on your 450 sq. ft. wrap around patio right in the heart of Vancouver.  Steps to the seawall, the finest restaurants, shopping, plus entertainment. Luxurious water front living!

 

http://youryaletownlife.com/market-trends-and-tips.html/details-46074198

 

 

 

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CONDO ASSIGNMENTS FOR SALE

DEFINITION
An assignment (i.e. purchase) of the right to purchase a property. Specifically, it can be the transfer of a contract to purchase, before occupancy. After occupancy, the property can be sold and is classified as a 'resale'.
 
WHY ASSIGN AND NOT SELL?
The City has not given the permission for Occupancy yet. It cannot be a sold using conventional methods.
 

EXAMPLE
A Buyer just bought a new Condo. The Builder has given the Buyer the RIGHT TO ASSIGN the unit (sell the agreement) to another Buyer. This may happen for various reasons:

  • Buyer must sell
  • Buyer wishes to take out equity
  • Property appreciated and Buyer wishes to re-invest appreciation 
  • Market outlook looks bad

Many have taken advantage of the 'good times' and have been 'flipping condos' for investment purposes. Many clients have bought over and over only to be MORTGAGE FREE today.

It is an art to flip condos before they are built. This form of investment is not for the faint-of-heart. You need a knowledgeable real estate agent with financing capabilities to get into the game.

You are advised as to the builders, their success and mentality, the areas, why some are good buys and why others are not...
 

CONDO MARKET OUTLOOK - INDICATORS
Vancouver's Real Estate market appears to be able to hold and re-sell the units at least up to 2011.

  • Vancouver's condo market is being fueled by wealthy young professionals
  • They do not wish to travel hours to work
  • They are usually single or maybe couples
  • Many buyers are retired and love the downtown living
  • Vancouver's downtown core is revitalizing and becoming more vibrant and fun
  • Vancouver 's economy is stronger than ever and will continue to attract people wanting to live in  Vancouver

TIPS & TRICKS

  • Not all Builders allow assignment sales. Find out if the builder allows for assignment sales before you purchase. Find out if they are giving a discount
  • You may sell your unit at a higher price! Consult with a New Condo Specialist, like our team, for accurate pricing
  • The Assignment Fee can be negotiated and passed to the Buyer! Work with A Tough Negotiator
  • List your property with a Condo Assignment site, where your unit's visibility is GUARANTEED
  • Buy Your units early to save on Assignment Fees and to Maximize Your Benefit
Let's start investing smart!
Stay tuned for assignments available in your desired area :)
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I received this information today from a friend/mortgage
specialist so I thought I would pass it on :)
 

I wanted to pass along this article that I read on
Canadian Mortgage Trends:
 
http://tinyurl.com/3keecd9

 

Given the recent events in the U.S it looks like the
stage has been set for low interest rates for a very
long time.  There is talk that the bank of Canada
may even cut the prime lending rate which is a
180 degree change in rate views.  "100% probability
of a rate cut by year-end."  With bond yields low and
talk of fixed rates coming down even more, now is
a great time to buy.  If you're working with clients that
need to be pre-approved, please let me know.
 
Regards,

Jessica Williams
Scotiabank Mortgage Specialist
T: 778-288-1511
F: 1-877-498-2728

Jessica.williams@scotiabank.com

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Landscaping on a budget

If you haven’t tackled your landscaping yet because you think it’s not in your budget, you should know there are a few tricks you can use that are very inexpensive. You shouldn’t feel as though you have to splurge and buy everything all at one time either. Adding a few things here and there every week or every other week is often easier than paying for one big shopping spree.
Rocks and Stones
Borders, garden walkways and walls can be pretty expensive when you purchase commercial products. If you scout around and always ask permission, you’ll often find old bricks from structures that have been torn down that you can use for this purpose. Sure, they may be old but they have character! You can create walkways and even mock patio areas with stones and rocks as well which you can also often find for free.
Native Plants
You will find that native plants are not only traditionally inexpensive, they require less care. This means that you’re not having to water so much or buy fertilizer. You can often obtain seedlings or seeds from friends, family and neighbors if you ask around. Native plants traditionally resist disease and insects better as well. Keep in mind, the more plants, shrubs and trees you have, the less grass you have to maintain!
Experiment with Containers
If you do want to experiment with pricier plants, use containers for growing and place them around your landscaping. This will allow you to control and maintain them easier. Should you find that they do well in a certain location, you can always transplant them.
Make Use of Hedges
Hedges can outline your property, offer privacy and act as a sound barrier. Not to mention, those that stay full year round can help reduce your heating costs by blocking the cold winter wind when they’re strategically placed properly.
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