maggie's Blog

featuring vancouver's shangri-la condo

2008-12-01T16:16:11Z

December 2008 sees the opening of North America's first Shangri-la hotel/condo, which also has the distinction of being Vancouver's tallest building with over 60 storeys and 293 suites, mostly 1 and 2 bedrooms. Located at 1128 West Georgia Street, on the corner of Thurlow this is Vancouver's most exotic and sophisticated architecture. The hotel occupies the first 15 floors.

Architect - James KM Cheng Architects and featuring LEED silver sustainable development

Developer - Peterson Development Group and Westbank Projects

Landscape - bamboo grove, galleria and waterfalls. Extensive greening on the tower facade. Inspired by the imaginary land in James Hilton's legendary novel Lost Horizon

Quality - high performance, commercial curtainwall, ultra high ceilings, geothermal heating/air conditioning, Boffi kitchens from Italy, Eggersmann kitchens from Germany, Miele appliances, Sub-Zero fridges and wine coolers

Security - 24 hour 5 star hotel trained concierge and security. Digital video surveillance. Electronic access control system

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sing along messiah

2008-11-30T17:40:51Z

For the 28th year the Vancouver Bach Choir, the audience and the Vancouver Symphony Orchestra will bring down the house with the choruses Handel's beloved oratorio. Directed by Vancouver Bach Choir Music Director Bruce Pullun

Orpheum Theatre December 14th 2.30pm, Seymour at Smithe

one of a kind show

2008-11-25T16:02:32Z

An extraordinary shopping experience for all. Holiday shop for exceptional gifts from more than 200 North American artisans. Meet the artists and learn about their creative inspirations. Buy directly from the artisans and buy someone's story and passion.

November 20-25 at BC Place Stadium, 777 Pacific Boulevard, Vancouver

tax benefits of losses

2008-11-25T15:59:19Z

The Canadian Institute of Chartered Accountants provided the below information relating to Tax Benefits of Losses.

Taxpayers may use losses to reduce their tax liability in the same, earlier or later taxation years, subject to certain limits and conditions. The limits and conditions largely depend on the character of the particular loss, with different rules applying to the particular type of loss.

This article discusses some considerations in the tax treatment of: allowable capital losses, allowable business investment losses and non-capital losses.

Allowable Capital Losses you have an allowable capital loss when you sell, or are considered to have sold, a non-depreciable capital asset (say an investment or real estate) for less than its adjusted cost base plus the outlays and expenses involved in selling the property. In other words, the capital loss arises becuase the amount realized from the sale of the asset is less than its purchase price. The allowable capital loss is deducted against any taxable capital gains you have. Generally, one-half of the capital loss can be offset against one-half of the capital gain. Hoever, allowable capital losses usually cannot be offset against oher income sources, such as business income or earned income.

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canada real estate roundup

2008-11-24T20:54:44Z

Take a look at what's happening in the Canada real estate market. The big cities of Toronto, Vancouver, Calgary are down but Montreal bucks the trend, as does Halifax, and St. Johns Newfoundland.

The number of homes sold through the Canadian multiple listing service plunged 14 per cent last month to the weakest level since July 2002. It was the steepest month-to-month decline since June 1994, the Canadian Real Estate Association said today.

The association added that the impact was heaviest in big cities - notably Toronto, which accounted for one-third of the national decline. Total major-market sales were down 15.1 per cent from September, and overall national sales were down 27 per cent from October of last year.

Vancouver - prices down according to Vancouverreflections

Victoria/Sooke - prices down according to 642blog.ca

Edmonton - prices down according to TheEdmontonRealEstateBlog

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how vancouver real estate is impacted by immigration

2008-11-24T20:52:12Z

Statistics Canada shows Vancouver's population continues to increase. Vancouver real estate is hugely impacted by inmigration, from other provinces and international. British Columbia and Canada's population is growing.

Canada's population posted its highest quarterly growth since 1991 in the second quarter of 2008, with an increase of 125,800. The advance was mainly due to a rise in net international migration which, at 91,600, reached its highest level since the end of the 1980s.

As of July 1, 2008, Canada's population was estimated at 33,311,400. From April to June, Canada's population grew by 0.38%.

The increase in net international migration over the second quarter of 2008 is mainly explained by an increase in both the number of immigrants and non-permanent residents.

Between April and June, 69,200 immigrants entered Canada, nearly 7,600 more than the same quarter a year earlier but below the peak of almost 74,500 observed in the second quarter of 2005

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vancouver elects a new mayor

2008-11-20T17:48:57Z

Vancouver elects an ex NDP MLA, Gregor Robertson as its new Mayor, in a very controversial race against incumbent City Councillor Peter Ladner.. The turnout was low. The left of centre parties joined forces a month ago and took all but one seat in Vancouver City Hall.

Robertson promises to make Vancouver "the world's greenest city" and to convert one of the Burrard Street lanes for cyclists. In an economic downturn Where will be find the funds?

Robertson is the founder and ex-joint owner of Happy Planet juices. He left the company to run for MLA in Fairview. Read the Province's review

vancouver real estate analysis for false creek october 2008

2008-11-20T17:45:08Z

October and sales down. Days on the market increased from 40 in September to 62 and the average selling price increased to $864,980 from $631,944 in September. The average supply of condos in this waterfront hood increased from 16 months to 25 months. Best selling price range is between $700,000 and $1,000,000. No sales over $1.7M. By far the worst October in the history of this waterfront neighbourhood.

Listings - 250 (down from 257 in September)

13 listings under $400,000. 27 between $400,000 and $500,000. 94 listed between $700K and $1M. 51 listings between $1 and $2 million. 20 listings over $2 million.

Least expensive$318,000 for 529 sqft l bedroom. Most expensive is the Penthouse at 1000 Beach, now down to $14,800,000

2008 Listings - Feb 153, Mar 174, May 202, Jun 210, Jul 237, Aug 256, Sept 257, Oct 250

Sales - 10, down from 16 in September. Two sales sold under $400,000. One sold between $400,000 and $500,000. Five sold between $700K and $1M and two sold between $1.4M and $1.7M.

2008 Sales - Jan 24, Feb 39 , Mar 44 , Apr 40 , May 18, June 18, July 9, Aug 14, Sept 16, Oct 10

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Vancouver real estate downtown analysis october 2008

2008-11-20T17:38:42Z

Vancouver's Downtown condo market saw listings flat in October and sales slightly lower. Average days on the market for condos that sold was down slightly from 50 to 48. The average price for Downtown condos that sold increased from $379,000 to $411,768. The average $ pr sq ft for condos that sold is flat at $562. Again a whopping 89% of the sales were under $500,000. Best selling price range is under $400,000. Vancouver's Downtown inventory increased to 16 months. This October was the lowest for sales for the millennium - given the increase in population in Vancouver from 2000, that is an amazing statistic.

Listings - 744 vs 742 in September

57 listings in False Creek North under $300,000. 229 between $300,000 and $400,000. 198 between $400,000 and $500,000. 216 listings between $500,000 and $1 million and 37 listed between $1 and $2M.

2008 Listings - Jan 420 , Feb 457 ,Mar 529 , Apr 630, May 669 , June 740, July 745, Aug 782, Sept 742, Oct 744

Least expensive $149,000 for a studio. $228,000 for a l bedroom and $409,000 for a 2 bedroom. Most expensive $3.8M

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Featuring Vancouver's Coopers Lookout

2008-11-20T17:30:37Z

Coopers Lookout at 33 Smithe Street, Vancouver, is the second of five waterfront buildings that make up Coopers Landing, situated east of the Cambie Street Bridge and across the water from the 2010 Olympic Village.

The Building 33 storeys with suites ranging from 550 sq ft one bedroom to 2866 sq ft villa residences, consisting of 3 adjoining buildings - the tower, the townhomes and the villas

The Amenities Coopers Quay Esprit Club is 14,000 sq.ft. recreation centre providing storage for a fleet of kayaks, a 2 lane 10 pin bowling alley, 60 ft lap pool, fitness centre, yoga facility and a video theatre. 24 hour concierge.

The Developer Concord Pacific

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vancouver housing market analysis kitsilano october 2008

2008-11-14T21:51:45Z

Vancouver real estate market analysis for Kitsilano condos saw sales for the month of October down to 15 from 24 in September. Listings flat at 187, versus 184 for September. Average price for sold condos increased from $408,,159.to $427,850. Average Days on the market increased from 32 to 36. October saw a bottom end market with the majority of sales under $500,000 in this hood. Kits condo supply up from seven and a half months to 12 months. The price range between $500,000 and $600,000 and over $700,000 is has the most inventory. Kitsilano prices are off 6% since January.

Listings 187 - 8 listed under $300,000. 58 listed between $300,000 and $400,000. 58 listed between $400,000 and $500,000. 28 listed between $500,000 and $600,000. 21 listed between $600,000 and $700,000. 14 listed over $700,000.

Listings Oct 187Sept 184, Aug 166, July 159, Jun 157, May 145, Apr 130

Sales - 15. Five sold between $300,000 and $400,000. 7 sold between $400,000 and $500,000. One sold between $500,000 and $600,000 and two between $600,000 and $700,000.

2008 SALES - Jan 26, Feb 44 , Mar 20, Apr 42, May 45, June 35, July 38, August 25, Sept 24, Oct 15

read the rest of this post and view the grpah

vancouver housing market roundup

2008-11-14T21:48:36Z

Jamieson House halts construction

Building permits pick up pace in September

Canadian Home Builders Association says Metro Vancouver real estate market will bounce back

BC job losses now the highest since December 2006, now at 5.1%

CMHC predicts 11% drop in BC home sales for 2009

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vancouver real estate west end analysis october 2008

2008-11-13T16:54:01Z

Vancouver real estate in the West End saw October listings up a tad from 257 in September to 268. Sales were down from 29 in September to 16. The days on the market for condos that sold dropped 65 to 45. The average selling price dropped from $447,834. to $370,468, the lowest for the year and a 35% drop since January. Half the sales were under $300,000 and 90% of the sales were under $400,000. The West End has over 16 months of supply.

read the rest of this post and view the graph

vancouver real estate graphs october 2008

2008-11-11T14:24:20Z

The above graphs show Vancouver (west side) real estate graphs for houses, townhouses and condos and shows monthly activity over the last twelve months.

The house and condo graphs indicates a reduction in listings, which are now back to the June level. Townhome listings are the highest for the past 12 months. The number of new listings per month, for all types of property, decreased in October.

Dollar volume for all types of property is the lowest for the past 12 months, though the chart for house sand condos seems to indicate a levelling.

The average price for all types of property was up in October and is higher than it was in October 2007.

The median pricefor houses is down and even with a year ago. The median price for townhomes is up and higher than a year ago. The median price for condos is flat and the same as a year ago.

View the graphs and read the rest of this post

vancouver housing maket analysis for kitsilano october 2008

2008-11-11T14:21:08Z

Vancouver real estate market analysis for Kitsilano condos saw sales for the month of October down to 14, versus 24 in September. Listings levelling off from 184 in September to 186. Average price for sold condos increased from $408,,159.to $414, 375. Average Days on the market increased from 32 to 36. Again October saw a bottom end market with only 2 sales above $500,000 in this hood. Thirteen months supply of condos. Kitsilano average condo prices are off 8% since January and equal to where it was in August.

Listings 186 - 8 listed under $300,000. 57 listed between $300,000 and $400,000. 57 listed between $400,000 and $500,000. 29 listed between $500,000 and $600,000. 34 listed over $600,000, including one over $1M.

Most expensive is First Penthouse, over 1500 sqft with 800 sqft deck $1,949,000. Least expensive $248,000 for 522 sqft l bedroom at 3333 W. 4th.

Listings Oct 186, Sept 184, Aug 166, July 159, Jun 157, May 145, Apr 130

Sales - 14 . Five sales between $300,000 and $400,000. 7 sales between $400,000 and $500,000 , 1 sale between $500,000 and $600,000 and one sales between $600,000 and $700,000. 7 were 1 bedrooms and 7 were 2 bedrooms. Cheapest sale $302,000 for a 1 bedroom north of 4th avenue. Cheapest 2 bedroom sold at $387,000 which works out to $442 pr sq ft!

View the graph and remainder of this post

lest we forget

2008-11-08T19:00:20Z

the 11th day of the 11th month marks the signing of the Armistice to end WW1 in 1918. This year is the 90th anniversary of the end of WW1 and the 60th anniversary of the Universal Declaration of Human Rights.

The City of Vancouver's Remembrance Day ceremonies will be held on:

Tuesday, November 11th at 10:30 a.m.
Cenotaph at Victory Square
(West Hastings Street, between Cambie and Hamilton)

These ceremonies, which include a wreath-laying to honour those who gave their lives.

Weather permitting there will be a commemorative fly-past at 11 a.m. by the Recreational Aircraft Association, Western Warbirds, and 407 Maritime Patrol Squadron.

There are also simultaneous Remembrance Day ceremonies taking place at several Vancouver parks, including Stanley Park's Japanese Memorial (west of Aquarium), Memorial Park South, Grandview Park Cenotaph, Victory Square Park and, at 12:30 p.m., a special ceremony at the new Chinese cenotaph at Keefer Square.

There is also a Remembrance Day run in Stanley Park,gather at Brockton Point. Join the celebrations at Hamilton Place Theatre

Why the poppy?

View my other Vancouver Events.

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when you're ready to buy or sell Vancouver real estate, contact Maggie, an experienced realtor marketing Vancouver homes since 1981

vancouver housing market analysis for october 2008

2008-11-08T18:58:47Z

The REBGV reports that Greater Vancouver housing price reductions across Greater Vancouver over the last six months have eliminated price gains witnessed in the first quarter of 2008. October was the slowest month of the year for sales. Active listings were down and the median price is down from September 2008 . Active listings 1% higher in October, over a year ago. Average price for October versus September 2008 went UP (+04%).

Residential benchmark prices, as calculated by the MLSLink Housing Price Index, declined 8.8% between May and October 2008, resulting in a 3.9% year to date price reduction for detached, attached and apartment properties in Greater Vancouver between October 2007 and 2008. In May 2008 the overall residential benchmark price was $568,411, compared to $518,668 in October 2008.

"Home sales are not keeping pace with the positive economic conditions in BC", said REBGV president Dave Watt." That's a direct result of a loss of consumer confidence in the overall market. Accordingly, today's housing market is characterized by moderating home prices and wide selection. It's definitely a buyer's market.

Residential property sales in Greater Vancouver declined 55% in October'08 to 1,364 from 3,028 sales recorded in October'07. Read the rest of this entry »

vancouver housing market roundup

2008-11-05T11:54:05Z

Premier Gordon Campbell just announced two measures to assist BC homeowners.

Firstly, The Province will lock in the property assessment roll for one year to create certainty for homeowners, businesses and local governments. "We know that property values have fluctuated widely since assessments were conducted last July," said Premier Campbell. "To avoid confusion, anxiety and unnecessary assessment appeals prompted by higher-assessed property values that do not reflect current market conditions, we will lock-in B.C.'s assessment rolls at 2007 assessed levels."

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consumer's right to cancel presale contract

2008-11-05T11:52:32Z

Consumer Alert! On October 28th the Financial Institutions Commission posted this article on their website.

Recent difficulties in global financial markets have led to delays in obtaining financing commitments and building permits for some development properties marketed in British Columbia under the Real Estate Development Marketing Act.

Developers who have not obtained a building permit or satisfactory financing to build a development are permitted to market a development under the Superintendent of Real Estate's Policy Statements 5 and 6 for a period of nine months on certain conditions. Those conditions allow marketing if the estimated date for the issuance of a building permit and for obtaining a satisfactory financing commitment, as disclosed in the disclosure statement, is nine months or less from the date the developer filed the disclosure statement with the Superintendent.

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where to find affordable vancouver real estate

2008-11-05T11:49:17Z

Not all Vancouver real estate is expensive....move east first time buyer and you can find a condo for $199,000.

The Hastings area has good value for the first time buyer. We just listed a smart one bedroom at 2255 Eton. It's a corner ground floor suite with a large patio. It has insuite laundry, underground secured parking and a locker. The building was rainscreened and had a new roof in 2004. Rentals are restricted.

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Halloween is a Vancouver Event

2008-10-31T18:00:48Z

It happens on Friday October 31st. See what's on in the city for Halloween entertainment.

Halloween dates back to the ancient Celtic festival of Samhain. The Celts lived 2000 years ago in what we now know as Ireland, the UK and northern France. October 31st marked the end of summer and the harvest and it was believed that the ghost of the dead returned to earth. In addition to causing trouble and damaging crops, Celts thought that the presence of the otherworldly spirits made it easier for the Druids, or Celtic priests, to make predictions about the future. For a people entirely dependent on the volatile natural world, these prophecies were an important source of comfort and direction during the long, dark winter.

History.com relates how this Celtic fest evolved into Halloween.

renters scramble to find homes in vancouver, bc

2008-10-31T10:26:29Z

More and more I hear how tight the rental situation is in Vancouver and some of the bottom end of vancouver real estate is being purchased by parents for their student kids or first time buyers who are paying hight rents and by young people moving into the province.

This article recently appeared in the Vancouver Sun.

An "extreme shortage" of studio and one-bedroom apartments in Vancouver is driving parents, students and pet owners out of the rental market and leading to lineups for the city's few vacant suites.The vacancy rate for bachelor suites has plummeted to 0.3 per cent, compared to the national average of four per cent for major Canadian cities, according to the most recent data from the Canadian Mortgage and Housing Corporation.

Vacancy rates for studio and one-bedroom apartments have been below one per cent in Vancouver since 2006.

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vancouver real estae economic roundup

2008-10-31T10:23:38Z

Here are some recent reports about the Canadian economy and Canada and Vancouver's real estate market.

A new RBC study conducted during the market turmoil in October finds overall intentions to purchase a home in the next two years remain steady at 22 per cent and have not changed since January 2008. As well, renovation intentions are slightly higher than last year - up four percentage points as 70 per cent of respondents are planning to renovate or make home improvements in the next two years.

Bank of Canada dropped rates a quarter of a point on October 21st and reports the Canadian economy will be sluggish til Q2 next year and accelerate to above potential growth in 2010.

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don't worry, be happy!

2008-10-27T19:33:23Z

Vancouver real estate owners have been bombarded over the last two months with negativity by the press. Now everyone's a real estate guru! And guess what? They have the ability to see into the future and predict it. The stock market plunges, house prices are falling, Canadian economy slowing down and may go into a recession. That's the daily news.

What goes up must come down and vice versa. This isn't the first time Vancouver's real estate market has corrected and it won't be the last. The world is not coming to an end. It'll work through this mess. Personally, i'm tired of the press and its negativity and I'm not watching or reading about it any more. There's nothing I can do about it anyway!

Here's my Top Ten Don't Worry Be Happy List! Read the rest of this entry

Vancouver's Largest Events

2008-10-25T22:25:34Z

Vancouver enjoys many festivals and cultural events throughout the year. Following is a list of the biggest ones, published by Business In Vancouver.

HSBC's celebration of Light comes in first with 1.5 million people attending. This Vancouver Event held in the summer and started in the '80s, when it was sponsored by Benson & Hedges, prior to the Government of Canada banning cigarette companies from sponsoring public events. Fireworks extraordinare!

The Fair at the PNEis the runner-up with three quarters of a million attending.

Vancouver's Pride Parade and TD Canada Trust International Jazz Festival boasts half a million attendees.

CelticFest Vancouver. is the fifth largest event and boasts a quarter of a million attendees.

Vancouver International Film Festival, Canada Day at Canada Place is 7th with 120,000 attendees.

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