Adoxographist's Blog

Moody Centre - Coming Soon - under $300k

Wed, 02 Dec 2009 02:34:43 -0600

Available in January 2010 - are you ready? We are very fortunate to have an unrivalled quality of life in Port Moody that is affordable, modern family-oriented, promotes sustainable and green practices, and caters to a vibrant and active outdoor lifestyle.

We are uniquely situated on the Pacific North-West as Canada's gateway to emerging markets and with a reputation as one of the most liveable regions in the world. This helps to explain the continued net gains from in-migration and why the global spotlight of the 2010 Olympic torch is unlikely to stop the desirability or demand of West Coast living, and with Port Moody being at the top of the list for the younger crowd.

This 2 bdm & 2 bth modern appointed suite is in a class of its own and will be listed in January. Fully rainscreened with 6 years of the 2-5-10 warranty remaining and a 25 year maintenance operation plan in place. The Evergreen Line is also coming soon.

If you're sitting on the fence [still renting] call John now for the inside track: 778-878-0778

BC Home Inspections...

Sat, 28 Nov 2009 17:29:50 -0600

Home owners and buyers seeking the services of a home inspector are reminded to ask before signing a home inspection contract to see the Consumer Protection BC wallet-sized licence issued to home inspectors.

Effective March 31, 2009, British Columbia became the first province in Canada, through the Home Inspector Licensing Regulation, requiring the licensing of all those individuals who assess the condition of a residential dwelling or property to have a licence to practice in BC. This includes warranty insurance provider company inspectors.

Home Inspectors that meet the requirements of Applied Science Technologists and Technicians of British Columbia, the Canadian Association of Home and Property Inspectors (BC), or the National Certification Program for Home and Property Inspectors, may qualify for a licence. ASTTBC certifies house & property inspectors who, once registered, become members of the BC Institute of Property Inspectors (BCIPI).

The regulation requires all home inspectors to be a member of one of these recognized associations. If the home inspector you want to use is not a member of one of the above associations, you should contact Consumer Protection BC's Inquiry Department.

Ensure the home inspector is licensed in BC, here: Home Inspectors Search.

Consumer Protection BC (formerly known as BPCPA) is now responsible for the licensing of home inspectors. Working in partnership with home inspector associations, Consumer Protection BC role is to ensure that a home buyer's interests are protected and that recognized accrediting bodies are providing a code of ethics for their members and a complaint resolution process for consumers.

In order to obtain a licence, Consumer Protection BC also requires all home inspectors to carry errors omission insurance in addition to general liability insurance.

Making a Complaint: [...]

John in Port Moody

Pre-qualified or Pre-approved?

Thu, 26 Nov 2009 14:58:35 -0600

What does being pre-qualified or pre-approved for a mortgage mean to a buyer?

There are differences between being pre-qualified or pre-approved for a mortgage and it can affect your ability as a home buyer, as well as the transaction itself.

Pre-qualifying for a mortgage typically doesn't include an analysis of your credit history or an in-depth look at your ability to buy a home. You can actually pre-qualify yourself for a mortgage by taking a general look at your income and expenses and plug them in to a total debt-to-income ratio formula. Here is a link to a calculator to help you: http://www.cmhc-schl.gc.ca/en/co/buho/buho_007.cfm.

Assuming that all of the information you used was accurate, this will help you establish your potential range of affordability. Please understand that this exercise will not establish an interest rate for you, and that factor and others affect the monthly payments a lender will allow you to make.

Most Realtors, whether they are representing the buyer or the seller, prefer and recommend working with pre-approved buyers. Being pre-approved normally means a lender has undertaken an extensive financial background check which includes a review of your credit history, previous tax returns and verifying your employment. If you have any uncertainty about the status of your credit, I recommend that before applying for a pre-approval you verify it at: www.equifax.ca. Sometimes credit reports are inaccurate, or they give a misleading picture of past credit problems that have since been resolved.

Although a pre-approval still isn't a guarantee that the lender will approve your loan, there is less likelihood of rejection. A lender will only issue you a mortgage commitment after approval of you, and the house itself based on a title search, appraisal, insurability and other guidelines. Appraisers are like the banks eyes. If you are planning on making an offer, make sure to allow plenty of time for the mortgage lender.

If you're pre-approved, it is a good idea to get a letter that states such and how long it is valid for thereafter. Obtaining a pre-approved mortgage amount is a competitive advantage because it signifies you are one step closer to a mortgage commitment from a lender, and this helps to assure a seller that you are a serious buyer. It is not uncommon for a seller to even accept a slightly lower offer from a fully pre-approved buyer.

As a buyer with a pre-approval you can proceed with a great deal of confidence providing that no adverse changes are made in your financial position, including co-signing, that could affect your credit negatively. There is nothing worse than a buyer's offer falling through due to failure of mortgage financing, and it is more common than people realize.

Initially the terminology Pre-Qualified and Pre-Approved can be confusing. Since meanings can differ in different regions, ask your broker or lender to explain the terms associated with their mortgage products, services and the approval process.

I recommend that buyers use an independent mortgage broker (Vs. a captive broker) who will shop around lenders to get you the best rate and terms possible. Independent mortgage brokers can show you how to buy with no money down, legally and easily, and help you sort through the bewildering array of mortgage options including extended amortizations.

An independent mortgage broker can often save you between 1% and 1.5% off the stated mortgage rate. This service is free, there is no obligaton and it would be my pleasure to help you find an independent mortgage broker for a consultation.

BTW, I do not accept referral fees if you are looking for an introduction to a mortgage broker.

From an Octopus's Garden...

Thu, 26 Nov 2009 00:49:39 -0600

Last night my wife Catharine and I went to see Paige our granddaughter who will soon be celebrating her 15^th birthday. Paige always enjoys receiving our gifts (because Grandma has exceptionally great taste). Happy Birthday Sweetheart!

Before we left we received a present from our recently turned 8 year-old grandson Anderson; Anderson's Fish Tank.

Who doesn't enjoy looking at a pretty fish tank?

This is a piece of art drawn and coloured by Anderson and looking at it we started to ask what some of the strange contents of the aquarium were.

A store?

A hunger bar?

Fish egg icon?

What we learned is that Facebook now has a new social networking virtual game, called "Fish World" where you can raise fish, decorate your tank with various items, and share your experience with Facebook friends.

From our "Boomer" fish bowl we look out in marvel at a new "Fish World" through the eyes of our younger generations.

In an effort to keep pace, Grandma has already challenged herself next year to get a mobile Smartphone with GPS.

Me, the Blackberry I've been using will finally replace the traditional pocket planner; no more excuses.

BC Government Abandons Leaky Condos…

Mon, 23 Nov 2009 14:02:36 -0600

The sudden discontinuation on July 31, 2009, of the HPO Reconstruction Loan Program by Housing Minister, Rich Coleman and his government was unconscionable. They have now brought consumer protection to an all-time low in BC.

In the Fall of 2007 the Homeowner Protection Office received an independent report from McClanaghan and Associates which clearly pointed out that we were not even half way through the leaky condo disaster in BC.

After 9 long years of under-estimating the full extent of the leaky condo disaster it would finally be acknowledged in the report. Direct costs to B.C. families for the various types of fixes, many inadequate, already exceeded a staggering $2.3 billion, and only 45 per cent of B.C.'s leaky condos had been fixed.

Pierre Gallant, an architect with engineering consulting firm Morrison Hershfield, told the Vancouver Sun, "It is hard to estimate the number of buildings that still need repairing." Gallant's concern is that without the loan program, owners will be more reluctant to address their problems with leaks and buildings will go longer without repairs.

With leaky condo remediation costing more than three times what it cost 10 years ago and no loan program in place, more "partial" or "band-aid" type fixes will inevitably be undertaken. This has serious ramifications to homeowners and home buyers beyond the funding of direct repair costs.

A homebuyer considering a home (1982 to 2002) will want to know that it is "low risk" to buy. This means if moisture should penetrate the building envelope it can escape through the cavity wall (Rainscreen); not "Faceseal" in which water gets trapped resulting in rot.

To verify a building is reasonably safe (there are no absolute guarantees), here are a few tips [...]

John in Port Moody

Vancouver Housing Forecast 2009 - 2010

Sun, 22 Nov 2009 02:41:59 -0600

The Vancouver housing market experienced a dramatic rebound this year. MLS® residential sales increased threefold January to October on a seasonally adjusted basis, and are trending on record levels. A marked increase in affordability during the spring induced many potential buyers into the market and the resulting momentum quickly turned a buyer's market into a seller's market with upward pressure on home prices.

Rising home prices are again eroding affordability and the demand that welled up last winter during the height of the financial crisis is now largely expended. This means the pace of home sales recorded this autumn will likely moderate over the coming months. However, despite some moderation in consumer demand, home sales in Greater Vancouver are expected to remain relatively strong through 2010.

The information contained in this report has been drawn from sources believed to be reliable, but the accuracy or completeness of the information is not guaranteed, nor in providing it does the British Columbia Real Estate Association assume any responsibility or liability.

After posting an estimated 41 per cent increase to 35,500 units this year, home sales are forecast rise an additional 5 per cent to 37,100 units in 2010, well above the ten-year average of 33,000 units.

The annual average MLS® residential sales price in Greater Vancouver is estimated to decline 1 per cent to $586,000 this year. This reflects the cyclical low recorded early in the year and the recent price acceleration. The average annual price is forecast to rise 6 per cent to $620,000 in 2010.

However, much of the increase will have occurred by the end of this year, with greater stability in home prices expected next year.

Housing starts in the Vancouver Census Metropolitan Area are estimated to fall to their lowest in more than four decades this year. A sharp decline in units under construction and inventory levels that peaked at a relatively low level is setting the stage for home builders to ramp up production in 2010. The lag between conception and completion of new housing may create a period of under-supply in the new home market. This condition will help underpin price levels in both the new and resale markets in Greater Vancouver.

Will Port Moody’s Western Neighbourhoods Be Integrated?

Sat, 21 Nov 2009 02:14:58 -0600

A few years ago I became familiar with a 2005 Port Moody report, "Moody Centre Commercial Market Assessment and Revitalization Strategy Gap Analysis".

The objective of this report was to provide an overview of the market position and redevelopment strategy for the retail component of the Moody Centre Commercial District, "...a relatively large and mature commercial district, which could be revitalized".

It confirmed untapped levels of demand that could easily support a huge retail infrastructure, much like what has been envisioned for Moody Centre at the "Western Gateway" ("The area extending along Albert Street/Barnet Highway from St. Johns Street to Short Street is often referred to as the Western Gateway to Port Moody. It is intended that the scale of redevelopment in this area will be reflective of its prominence as an entrance to the City." - Port Moody's DEVELOPMENT PERMIT GUIDELINES section 12.1 Development Permit Area 2 for Moody Centre).

Here are some revealing and disturbing excerpts from the Gap Analysis:

The (Moody Centre) commercial district does not have the scale or types of stores required to serve the retail needs of consumers. The majority of all residents' retail expenditures go outside the trade area to much larger destinations.

It is the food and service businesses that Moody Centre is well positioned to satisfy. There is over $30 million in potential supermarket sales available. This could support two supermarkets, or close to 50,0000 sq.ft. of supermarket space, yet there is not a single supermarket within the study area.

Moody Centre trade area could support a wide range of and scale of stores. The main problem with capturing the retail sales of this market is the presence of competitive stores nearby and the lack of anchor stores on site. One of the most important steps to increase sales would be to increase the local population by allowing more multi-family development.

If Port Moody residents shopped within their own city, the estimated demand shown here for the trade area could be more than tripled.

This last point is particularly poignant for the owners and residents on the west side of Barnet Highway. We have failed to market the untapped demand identified in this report, and almost 5 years later little has changed.

Today the Evergreen Line offers a once in a lifetime opportunity to integrate the existing neighbourhoods in the west end of Port Moody, "under-serviced" as they remain, which are ripe for revitalization and growth.

This Western Gateway area has been affectionately (although unofficially) identified as "Old Port" (in contrast to the built-out, "Newport") by many of those engaged in the ongoing OCP process and is seen as an excellent location from which to serve a large and underserved market.

According to draft OCP documents, "Commercial land use needs for Port Moody will be met through a number of strategies..." including, "...higher density mid-rise and high-rise mixed use development in nodes or clusters within Moody Centre." This clearly offers some hope.

The single most important issue is that the west side of Port Moody has no "Landmark" or anchor tenants. New residential development and retail located near an Evergreen station in this area is a potential answer, which would help integrate the western neighbourhoods and develop a distinct identity for the Western Gateway to Port Moody.

Client Checklist of Obscure Phobias...

Fri, 20 Nov 2009 23:12:26 -0600

Since REALTORS® are into checklists, here's a dandy.

Please check below any from which you suffer:

A fear of open places	agoraphobia
A fear of heights or high places	altophobia (also bataphobia)
A fear of dust	amathophobia
A fear of looking at high places	anablepophobia
A fear of floods or flooding	antlophobia
A fear of defects or imperfections	atelophobia
A fear of tall buildings	batophobia
A fear of enclosed spaces	cleisiophobia (also clithrophobia)
A fear of falling downstairs (usually fond of ranchers)	climacophobia
A fear of houses or being stuck in a house	domatophobia
A morbid fear of one's home surroundings	ecophobia
A fear of mirrors (mainly on ‘bad hair' days)	eisoptrophobia
A fear of electricity	electrophobia
A fear of insects	entomophobia
A fear of dampness	hygrophobia
A fear of high prices (common with buyers)	hypselotimophobia
A fear of termites	isopterophobia
A fear of mice or rats	musophobia
A fear of home surroundings	oikophobia (also eicophobia)
A fear of property	orthophobia
A fear of heat	thermophobia
A fear of neighbours or a neighbourhood	viciniphobia

I think this list must have been compiled circa early 1900's by a British Estate Agent; what do you think?

Feel free to suggest more modern phobias (accompanying anecdotes welcome)...

'Cause I'm the taxman, yeah, I'm the taxman...

Fri, 20 Nov 2009 01:32:00 -0600

Harmonized Sales Tax Update for New Home Purchases in BC...

Rebate Threshold and Transitional Rules for New Housing

The British Columbia Government is proposing to increase the BC HST new housing rebate threshold from $400,000 to $525,000. As a result purchasers of new homes up to $525,000 pay no more tax due to harmonization than is currently embedded as PST.

The Province is also proposing transitional rules for new housing (click on above link). Where ownership or possession is transferred before July 1, 2010, the provincial portion of the HST would not apply to sales of new homes.

What is good news for one of my investor clients is that sales of new homes under written agreements of purchase and sale entered into on or before November 18, 2009, would generally not be subject to the provincial portion of the HST, even if both ownership and possession are transferred on or after July 1, 2010.

Before going off to Dubai in October my clients entered into an aggrement for a new-home purchase in Coquitlam where possession will be in 2012, and will therefore be PST portion exempt.

The government has also increased the rebate of the provincial portion of the HST paid on a new home to a maximum of $26,250. This represents a 30 per cent increase over the original government proposed home price threshold of $400,000 and maximum rebate of $20,000.

This is good news for the Real Estate Board and proof that all of our lobbying efforts produce results.

In October, 2009, the Board asked the government to raise the threshold for the HST on new homes as well as the new housing rebate.

"We heard the concerns from consumers and industry about how the HST might affect home buyers, and this increase will move the threshold to above the average new home price in the province," said the Hon. Colin Hansen, Minister of Finance.

"...Don't ask me what I want it for, If you don't want to pay some more, 'Cause I'm the taxman, yeah, I'm the taxman"

Clearly the BC government listened to us in the real estate sector.

Being Younger in Port Moody...

Tue, 17 Nov 2009 19:17:26 -0600

In early 2008 multi-family homes in Port Moody became the city's main source of available housing stock. Yes, more than 50% of Port Moody's households are now multi-family.

Extrapolating the fact that we have more couples here in Port Moody, based on single (1) person households in Port Moody of only 19.6% (compared to 28.5% in Metro Vancouver), the supply and demand for one bedroom suites is much lower than that of 2 bedroom.

There are only 5 - 1 bedroom suites for sale at the present time in the Inlet Centre (taking in the area from Klahanie to Newport Village) and only 8 sold in the past three months.

Although we can normally expect many listings to expire by December 31^st, the current supply of 85 active (for sale) 2 bedroom suites substantiates this commentary, as does the demand in the past three months of 57 sold.

In contrast to other cities, and based on the 2006 Census, Port Moody has a significantly younger citizen profile which means amongst other things that retail buying patterns of our citizens will be different.

In the 20 years between 1986 and 2006 the shifting age distribution of 55 plus has grown. While BC as a whole has a 55 plus (age) population of 26.8% and Metro Vancouver is at 24.1%, only 18.1% of Port Moody's population is 55 plus.

Looking at 65 plus, and again BC is high at 14.5%, Metro Vancouver at 12.9% and Port Moody's 65 plus population is at only 7.8%.

This younger demographic are more computer dependent and will communicate and be engaged through the internet and handheld applications such as the Blackberry and iPhone. Being so distinct it will be interesting to see how Port Moody responds.

We are very fortunate to have an unrivalled quality of life in Port Moody that is affordable, modern family-oriented, promotes sustainable and green practices, and caters to a vibrant and active outdoor lifestyle.

Port Moody moving forward on development...

Sat, 14 Nov 2009 22:24:58 -0600

11 storeys proposed in Port Moody

November 12, 2009 Port Moody has given a preliminary green light to an 11-storey residential development that would add more than 150 units up the Chineside slope on Henry Street.

On Tuesday, council granted first two readings on zoning and official community plan amendments for the multi-family development in Moody Centre. Currently a vacant piece of land, the development would be located west of Moody middle school and east of the Terravista building.

An OCP amendment is needed to allow for the 11-storey height but, according to city staff, the building would consist of "ascending green terraces" up the Chineside slope, creating an actual elevation of six storeys. Allowances are also needed to vary parking requirements for the site because the proposal, which calls for three levels of underground parking, would still be short about 17 parking spots.

And while some members of council are supporting the proposal, neighbours have expressed concerns about traffic and the loss of green space.

"I walk through the trails that pass through the proposed site daily, embracing the beauty of the forest that surrounds the area," wrote Jagoda Kozikowska, a Terravista resident, noting bears, migratory birds and other wildlife use the area frequently.

Ronnie Miranda, who lives in the 2900-block of St. Johns Street, said Henry Street can barely accommodate the existing traffic volume, especially on school days, and traffic on St. Johns is "extremely congested," particularly during rush hours. Miranda also questioned the logic of creating a new, medium-density development when units in nearby developments remain vacant.

But at least one Moody Centre resident is welcoming the proposal.

John Grasty, chair of the Port Moody Western Station Committee, wrote in a letter that he's "delighted" with the proposal because it would help create a compact, walkable community.

"Although the 300-plus residents this development will add are just outside the 400-metre radius of the Evergreen Line station, it is critical for this proposal to move forward," he wrote, saying it would demonstrate PoMo's commitment to a third Evergreen station on the city's west side.

Staff say the building would achieve a "high quality development" for that part of Moody Centre.

The developer is proposing to concentrate building on the lower portion of the site to reduce the environmental impact and has agreed to dedicate 1.2 acres at the property's higher elevation for park land.

The building would meet a LEED silver standard and include bike lockers, a car share program, rooftop community garden and composting facilities.

Coun. Bob Elliott reiterated his stance against approving any new development given council's "zero to minimal growth" policy to be included in the new OCP.

"I'm supporting it because I think it's a good plan," countered Coun. Mike Clay, noting the city needs more consistency in handling its development applications.

In addition to Clay, Councillors Meghan Lahti, the acting mayor, and Gerry Nuttall voted in favour of the first two readings; Mayor Joe Trasolini and councillors Diana Dilworth and Karen Rockwell were absent.

A public hearing on the development is scheduled for Dec. 8 at 7 p.m. at Port Moody city hall.

By Sarah Payne - The Tri-City News

Port Moody needs one more Evergreen stop…

Sat, 14 Nov 2009 21:48:40 -0600

Friday, November 13, 2009 - Evergreen needs one more stop, group says

By the numbers, Port Moody needs a third station for the Evergreen Line.

So says a grassroots group in Moody Centre, which is pushing government officials at various levels for a western stop on the proposed rapid-transit line for the Tri-Cities.

The Port Moody Western Station Committee argues that one in four Port Moody residents could be short-changed if a station isn't located on the city's west side. The committee is an informal group made up of Moody Centre businesses, residents and organizations.

Aside from the stations planned for St. Johns and William streets and at Ioco Road, only one other stop is being considered by government officials for the city: west Port Moody.

Another additional stop near Lincoln Avenue is also a possibility, but has no firm commitment.

"Two additional station locations will be considered, working in consultation with local communities, based on their ability to shape land use and promote increased density and ridership," a project backgrounder states.

But the group says, by its calculations, omitting the Barnet Highway portal would mean the Evergreen Line would bypass more than 8,300 residents, or one in four in the community.

John Grasty, chair of the Port Moody Western Station Committee, said group members extrapolated numbers from Canada Post and census figures to determine populations in the area. The hope is that the figures will persuade Port Moody council to drum up momentum for a west side station.

"We're trying to make a compelling case, which we feel we've made extraordinarily, for the west side of Port Moody," Grasty said.

Once committee members began crunching numbers, he added, they realized that only 7.9 per cent of Port Moody's population is over the age of 65 -- well below Vancouver's average of 12 per cent and the provincial average of 14 per cent.

"We have a very young demographic. We do not have a very big senior demographic compared to Metro Vancouver or the rest of the province," he said. "There's lots of younger people who want to take their bikes on the SkyTrain or walk down the hill."

Committee spokesperson Robert Simons said there are more than 600 signatures on a petition the committee has circulated to press TransLink and government officials for a western station.

"There's a strong community sentiment, for a number of reasons, to have a third station in Port Moody," he said, noting such a station could spawn commercial redevelopment opportunities and leverage the area's heritage.

"It will be that catalyst that will do things for Port Moody not only immediately, but for the next 30 and 40 years to come."

Simons said the committee went to city council Tuesday to encourage local leaders in early lobbying efforts for the third station.

"You've got to be proactive in your activities," he said, adding that waiting "may not serve the purpose.

"We have to continue to push the case, because it will not happen without the community input and support."

Port Moody acting mayor Meghan Lahti said, however, that council's support for a third station is on the record and that won't change.

"We support a third station in the city. Where and how that station is put together is still a question mark."

The city will begin joint planning with TransLink, Lahti said, adding that meetings could be held as early as sometime during the next few months. That's when discussions around a third station could come up.

"There will be a time for us as a city to get involved and make our position better known to those planning bodies," she said, adding that the municipality is still waiting for concrete news on funding from TransLink. "We'll see what happens. At some point someone will have to come up with some money before a shovel hits the ground. We're still waiting for that."

Lahti stressed that, despite current funding challenges, it may be possible to add stations in the future. "The funding for this entire line is still questionable. If they proceed with the funding for the line, we will be pushing for a third station," she said. "They're proceeding as though they have the money already, so maybe they know something we don't know."

Lahti cited the example of the Millennium Line, which added stations like Lake City Way after the original line was launched.

"It was always planned for, but they phased it in," she said. "If they said we could only have two, at this point we would be pushing for some type of phase-in for a third.

"But obviously the optimum situation is they would just put the third in right away."

Simone Blais - © Coquitlam Now 2009

Public consultation meetings on the preliminary design of the Evergreen Line have now wrapped up.

Den of Iniquity...

Sun, 08 Nov 2009 22:44:46 -0600

A Port Moody condominium apartment for sale which I was showing to a woman was advertised as a two (2) bedroom. I discovered upon showing that it was in fact a one (1) bedroom and den.

Well it turns out that the developer originally sold these properties as two bedroom units to unsuspecting Buyers (hopefully none of which were represented by a licensed representative here in the REBGV).

A ‘den of thieves' is not where robbers steal, but a "safe house" to which they return after having robbed somewhere else. So where is this "safe house" that allows developers to rip-off the general public?

It's in the Real Estate Development Marketing Act. The administrator of REDMA regulations is the Financial Institutions Commission (FICOM) and it seems to be so far removed from overseeing the regulations that the developers will continue to create a den of misery for future homebuyers.

Another common example of a developer rip-off is the overstating of inhabitable space when selling to the public; again, nothing is done.

When setting appointments of homes for sale for clients to view we're at the mercy of our professional colleagues and must rely heavily on the information provided on the listing to be accurate and complete. Relying on the developer information is like relying on the weather or a weather forecast.

Misrepresenting properties in such a way is unacceptable; our time had been wasted and she (my client) wasn't at all happy; neither was I.

This gives the false appearance of being 'good value' for a two bedroom which will attract buyers and their representatives.

Providing inaccurate data can have serious consequences. For instance, when a Comparative Market Analysis is prepared using two bedroom information, it skews the values being used for other REALTORS and their clients.

Perhaps the definition of a den needs to be clarified, and rules established for what counts as a closet and window.

The following definition for the word "den" from Merriam-Webster Online seems to provide a simple understanding: A comfortable usually secluded room.

Btw, none of the definitions I found for the word "den" presented it in a context for use or substitution as a bedroom.

In May 2007 I reported this to the board and was told: "...our technical area has advised that they will submit your request as an enhancement request to the service provider. Because MLXchange is so widely used, enhancement requests such as this can take a fair bit of time to be adopted; however, we will stress the importance of this enhancement for our market.

It is concerning to hear of REALTORS wrongly classifying properties and we will take measures to note this in our MLX courses. Thank you for bringing this forward."

Maybe it's time for a follow-up.

Port Moody Topography lends itself to Terracing...

Tue, 03 Nov 2009 11:07:08 -0600

I had the opportunity to review the plans and conceptual drawings for this proposed development by Harmonix Ventures at Henry Street and Buller Street and fully support the project moving forward.

Perspective looking into entry court along Henry

This is in "Area 3" of Moody Centre as it was identified at the Design Charrette in 2007, and as a participant in that particular group I am delighted to see how the proposal is in keeping with the vision.

Neighbourhood Plan Area policies for Moody Centre include encouraging non-vehicular movement of people in the neighbourhood by creating improved pedestrian connections. This development is true to transit-oriented development principles, creating a more compact, walkable community and reducing reliance on vehicles, and fits the definition of a Complete Community.

The incorporation of Green building technologies and sustainability features also add visual interest and identity to the streetscape, and are exactly what Port Moody citizens have asked Mayor and Council to provide.

Although the 300 plus residents this development will add are just outside the 400 metre radius of the Evergreen Line station, it is critical for this proposal to move forward without any delays to further demonstrate Port Moody's commitment to Evergreen Line stations being located where they are best supported by land uses and densities.

I have written asking Mayor and Council to fully support this project on its own merit without any delays, and as an example of what Port Moody wants to see in the future. Please add your support as well.

A guide for mortgage virgins...

Fri, 16 Oct 2009 15:45:12 -0500

A mortgage is a loan used to buy a property. As with all loans, how much interest you pay depends on several factors. This link will introduce you to What is a mortgage?

For advice on mortgages, the video, "A guide for mortgage virgins" offers invaluable tips. Watch and listen to Doug Melville, Canada's Ombudsman for Banking Services and Investments tell you what you need to know before you sign on the dotted line.

He will introduce:

1. Terms of payments

2. Type of rate

3. Privileges and penalties

4. What if you move

5. Mortgage insurance

You have many different choices, and each lender promotes their products in a different way. You can learn more here about What choices do I have when I shop for a mortgage?

If you're looking for a reputable Mortgage Broker in the Metro Vancouver area let me help you. BTW, I do not accept referral fees for referring clients to a Mortgage Broker.

John in Port Moody

How do I protect my property against loss or damage?

Fri, 16 Oct 2009 13:31:18 -0500

What insurance do I need for my home?

There are specific insurance packages for homeowners, tenants, and condo owners. Most cover these three things:

1. The building(s) on your property

- Includes your house and other buildings like a separate or detached garage, or workshop.

- If you rent your home, or own a condo, your landlord or the condo company provides insurance for everything from the drywall to the outside.

2. The contents

This is the cost to replace the things you value in your home.

Most policies cover your belongings for up to 70% of the insurance you put on the building.

Example: If you insure your house for $200,000, your policy will cover 70% of that total, or up to $140,000, to replace everything inside it. You can add more if you want.

3. Liability

This covers any claims against you if someone is hurt or killed while on your property.

What extra coverage can I get?

You can:

- Add extra contents insurance. The amount you need to cover your personal possessions depends on their value to you. Here's how to decide how much you need:

- Create a record of everything you own, the date when you bought it, what it cost, and what it may cost to replace the item now. You may also keep some photos or a videotape record. The Insurance Brokers Association of Canada provides a Home Inventory Form that you can use to list what you have in your home and the value.

- Add up the value of everything you want to insure.

Look at how much insurance you can afford. Do you want or need to cover everything you own fully? The more you cover, the more you'll pay.

Cover more dangers. You can get insurance to cover almost any kind of problem you can think of, and many you may never have imagined! There is coverage for everything from sewer backups, to earthquakes, to losing all the food in your freezer during a power outage. However, you will pay more for extra coverage.

Some people choose only theft, fire, lightning, windstorm, hail, and certain types of water damage. If their homes or belongings are damaged for some other reason, they won't get any money for those losses. That's the drawback of getting lower coverage.

Remember: The more coverage you get, the more you'll pay

When you look at different policies, make sure you are comparing apples to apples. To reduce your costs, ask yourself: Do I really need this much insurance? How much am I willing to spend to cover losses myself? Then decide what's right for you.

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"Where's the Beef?"

Mon, 21 Sep 2009 13:04:40 -0500

It's been called a cultural phenomenon and a marketing metaphor.

By questioning the matter of a hamburger twenty five years ago, Clara Peller coined the iconic phrase, "Where's the Beef?"

This question raised by the popular Wendy's ad created a value proposition for consumers to consider; whether they were actually getting steak, or just sizzle.

The message holds as much relevance today.

For instance, savvy new home buyers entering the real estate market expecting value often raise style over function as a question of substance.

Real estate itself is an industry that offers pretty much the same old stuff, and I'm at a loss as to why so many REALTORS®, at least in the local markets, are at a point of competitive convergence.

Adding value, beyond template websites and the usual "commoditized" services offered by most REALTORS®, seems to be presenting a challenge.

How long a Realtor has been in real estate doesn't really matter either; what counts is what they're doing now, or next.

"Where the Beef?" more here...

"Buyer Beware" Seminar - September 17th.

Wed, 09 Sep 2009 23:10:31 -0500

Homebuyers get advice from Tri-City REALTOR® - by Gary McKenna - The Tri-City News

Local REALTOR® John Grasty will be holding a seminar this month to discuss the potential pitfalls home buyers face when entering the real estate market. Photo: COLLEEN FLANAGAN/THE TRI-CITY NEWS

John Grasty knows the pitfalls that can come when buying real estate.

In 1997 he discovered the condo he purchased in Coquitlam's Town Centre neighbourhood was one of thousands caught up in the Lower Mainland's leaky condo disaster.

Following the incident Grasty became an outspoken critic of building practices and the provincial governments handling of those affected by the crisis. He has since become a REALTOR® with Prudential Sterling Realty and blogs (www.johngrasty.ca) about the dangers home buyers face when entering the real estate market.

Today, 13 years and millions of dollars after the first leaky condos were discovered; Grasty said there are still many issues buyers should be aware of before putting an offer on a home.

"I have had clients who have wanted to put an offer in on a building... and after doing our due-diligence we have discovered things that tell us this isn't a safe building to buy in to," he said. "I have had this happen many, many times."

This month Grasty will speak at a seminar at the Poirier Library to discuss some of the issues he has seen and faced himself.

With many younger home buyers now entering the market, Grasty's advice is invaluable. However he is quick to point out that it is not just young buyers who get caught up in the pitfalls
that can come with home ownership.

In fact, the majority of people affected by the leaky condo crisis were owners looking to down size from a single-detached home to a townhouse or condo.

He said he has seen cases of elderly, debt-free people getting hit with $80,000 to $100,000 repair bills following their purchase of a leaky condo.

"These are people in the twilight of their life and it is just absolutely sick they have to deal with these types of issues," he said.

Grasty is also critical of the provincial government's recent decision to eliminate interest free loans for people who have been caught up in the leaky condo crisis.

"We just stepped back 12 years," he said. "The BC Liberals basically ignored all of the good work that has been done."

Grasty said the government is wrong to think the leaky condo crisis is over.

Legislation enacted in 1999 which forced developers to change some of their business practices was not retroactive, he points.

That means a developer who took out a building permit before the changes were made could still go ahead and build under the old parameters. Grasty believes buildings constructed as recently as 2001 could leak.

Also, those buying detached homes often believe they are free of leaky condo dangers.

This is not so, according to Grasty. "Half of the Westwood Plateau was built with the same technology as leaky condos," he said. "

But it is not just leaky condos that Grasty said buyers need to be aware of.

All sorts of situations can come up, whether it is an old oil tank in the yard or information on financing. He said the seminars are a great way for people to learn more about the buying process.

"I am really concerned that too many people are falling victim to the frustration of buying and selling because they don't do their due-diligence," he said. "We tell people how to prepare for the purchase."

Grasty will hold a seminar at the Poirier Library on September 17 between 6:45 and 8:45 p.m. For more information go to www.library.coquitlam.bc.ca or www.realestateevolved.com

Port Moody (North Shore), BC - for under $1 million...

Sat, 05 Sep 2009 15:28:21 -0500

A quiet cul-de-sac on the North Shore of Port Moody is the private locale of this 2 storey-w/bsmt quality-built 2007 custom home.

Once inside, the 13′ Entrance ceilings reach and span the Living Room; both areas bounded with crown moulding and large baseboards.

The intimate comfort of the large Family Room flows into a gourmet Kitchen boasting top of the line appliances, an abundance of granite counter space, and storage for every piece of china or cutlery, condiment or cruet, required for the chef.

An oversized Master Bedroom with a generous walk in closet and a spa like bathroom, is another of the elegantly enhanced elements of the 2,722 s.f. finely finished living area.

The profusion of stylish accessories and sophisticated fixtures, fitted throughout the 11 finished rooms, are complimented with the many extras: Brazilian H/W, 2″ blinds, A/C, HP, 3 sets of built in speakers, a sun deck off the eating nook overlooking the flat professionally landscaped yard. This is even roughed in for a separate entry suite.

Within walking distance to the vast selection of amenities of the Inlet Centre, and only a short drive to the West Coast Express, check it out. Call John at 778-878-0778 if you'd like a more detailed report of the current market conditions for the area in which this home is situated, or click here [...]

3005-84 Grant St, Port Moody (Moody Centre) - $288,800

Tue, 01 Sep 2009 03:11:36 -0500

View a slideshow here if you can't make either of our

Open Houses 2 - 4pm, Saturday & Sunday, Sept. 12 & 13th

With wide appeal and the ultimate urban lifestyle, Moody Centre is envisioned as a local "Yaletown in the Burbs" and promises nothing but upside. We say, "Get in on the ground floor!"

Encompassing the south shore, Moody Centre is the focus of much of the future redevelopment activity in Port Moody; "The Lighthouse at Rocky Point" is already here. Fronting on 84 Grant St, running between Clarke and Spring St, and closely located to all urban amenities; nothing compares!

Stroll through the Heritage Conservation and Character Areas to the eclectic Queens Street Plaza. Bike, roller-blade, or walk, the Inlet trails. Exercise, play or relax, at Rocky Point Park. Fish, kayak or sail, the Inlet itself. The "City of the Arts" has something for everyone.

This 2 bdm & 2 Bth modern appointed 781 s.f. suite is in a class of its own. The Lighthouse is fully rainscreened with 7 years of the 2-5-10 warranty remaining and a 25 year maintenance operation plan in place; contact John to find out more: 778-878-0778

End of HPO Reconstruction Program

Tue, 01 Sep 2009 02:35:42 -0500

As of July 31, 2009, the Homeowner Protection Office will no longer be accepting new loan applications for the Reconstruction Program.

All applications received prior July 31 will be reviewed by project on a first-come first-received basis, and those deemed eligible will be offered a no-interest repair loan provided that the building permit for their building envelope renovation is obtained by January 31, 2010.

The reconstruction fee of $750 per multi-unit building constructed for sale in the coastal climatic zone remains in place to continue to fund the program.

All other purposes and requirements of the Homeowner Protection Act - such as builder licensing and home warranty insurance - will remain in force, and relevant HPO programs and services will continue. This includes: licensing residential builders and building envelope renovators; administering owner builder authorizations; monitoring the performance of the third-party home warranty insurance system underwritten by the private sector; and, carrying out research and education.

http://blog.realestateevolved.com/?p=286

TransLink Nixes more Property Transfer Taxes; Phew…

Sun, 30 Aug 2009 18:22:42 -0500

When the City of Toronto implemented a Land Transfer Tax (LTT) as a way to address a revenue shortfall, instead of bringing in revenue, the LTT did the opposite.

An estimated 3,500 families who would have otherwise moved, stayed put because of the LTT, according to a report from the C.D. Howe Institute and economics professors at the University of Toronto, and data from the Toronto Real Estate Board.

Those 3,500 fewer home sales cost the Toronto economy $166 million in 2008, since every time a home changes hands in Toronto the transaction generates $47,575 in economic spin-offs in furniture and appliance sales and fees to home inspectors, landscapers and lawyers, according to data from Altus Group and the Canadian Real Estate Association (CREA).

The Real Estate Board of Greater Vancouver (REBGV) explained to Translink that the BC economy heavily depends on home sales and the last thing homebuyers need is another land transfer tax when they already pay a whopping $8,000 provincial property transfer tax on a $500,000 home.

TransLink listened. Last month CEO Tom Prendergast responded with these comments:

"TransLink believes the funding mechanisms should also help us get to the future envisioned in Transport 2040. As such, we are focusing on mechanisms that will influence behaviour directly, and provide greater encouragement for people to leave their cars at home. We do not believe a property transfer tax fits this criteria, and will not be giving it further consideration."

Phew!

But where will the Evergreen Line shortfall come from?

VANCOUVER - LIVE THEN WORK! - "STUDIO 10" LOFT - $349,800

Fri, 21 Aug 2009 19:15:50 -0500

Mt. Pleasant - Main & Broadway: Vancouver's most vibrant upcoming residential neighborhood with recreation, entertainment, trendy shopping and restaurants for every taste - Live then work!

Living in the hub of Vancouver offers the accessibility, diversity & freedom of the ultimate urban lifestyle.

Spacious top floor 1 bdrm "Studio 10" unit w/14ft ceilings, in converted warehouse, provides 2 lofted areas, balcony, with North Shore Mountain & City views, full kitchen & that 'WOW' factor.

Live/work zoning (translation: lower taxes). Walk-up building w/parking space only a few steps from door. E10th is a bike designated street. Ready to move in. Pets & rentals are welcome.

OPEN HOUSE 3 - 5 PM on Monday, August 24.

If you can't make it to our open house then visit us from the comfort and convenience of your own home: SLIDESHOW - PHOTO GALLERY - VIDEO TOUR

Contact John at 778-878-0778 for more details on MLS# V782635

This listing is proudly presented and represented by: John Grasty - Prudential Sterling Realty Inc.

Not quite what you're looking for? Try this home search tool.

Port Moody's Farmers Market is back...

Tue, 28 Jul 2009 12:11:38 -0500

Port Moody's Farmers Market is back...

...by popular demand, at the Queens Street Plaza open every Saturday starting August 1^st through to September 5^th, 2009.

The Queens Street Plaza Farmers Market is a very popular public venue for fresh produce, and features artisans, crafters, entertainment & food.

Queens Street Plaza is located between Clark Street and Spring Street (north of St. Johns Street).

Being the "City of the Arts", live music and entertainment are being organized to add a festive atmosphere for an unforgettable trip to the Port Moody Farmers Market, open from 9:30AM to 3PM.

If you're out of town for the BC Day or Labour Day long weekends, you can still embrace the excitement mingling with the locals and visitors on August 8, 15, 22, 29.

The Port Moody Farmers Market has a real sense of community spirit that attracts visitors from all over; don't miss it!

John in Port Moody

Nuisance Neighbours...

Tue, 28 Jul 2009 11:57:02 -0500

Interfering with the rights of a neighbour...

"My neighbour BBQ's right beside my bedroom window which causes my entire suite to fill up with smoke when it is used.

I've tried speaking to them and I've asked if they would consider moving it.

The last time they sent me a text message advising they were going to BBQ, and tonight they are on the balcony using it again.

I'm not sure if I can ‘make' them move it, but between my asthma and wearing contact lenses, it is getting unbearable.

Any guidance you can provide would be greatly appreciated."

Response:

I'm sorry to hear about your difficulty and the lack of consideration by your neighbour.

If your friendly approach didn't produce the results then the strata manager, &/or strata council, will need to get involved. (in British Columbia a condominium is referred to as a strata - same as Australia)

Document the details of the events and provide the strata council with the information. You might also want to get a letter from your doctor to provide to council.

In BC the strata bylaws govern the use of the strata lots and common property. The balcony is generally considered limited common property. Strata rules may also be created to govern the use of common property.

You will need to identify which of the bylaws or rules for your strata corporation are being breached.

Here is the Strata Property Act Standard Bylaw 3 (I have underlined for emphasis below):

Use of property

3 (1) An owner, tenant, occupant or visitor must not use a strata lot, the common property or common assets in a way that

(a) causes a nuisance or hazard to another person,

(b) causes unreasonable noise,

(c) unreasonably interferes with the rights of other persons to use and enjoy the common property, common assets or another strata lot,

How to Enforce Bylaws and Rules explains the process.

You might also want to read, "What to know about Resolving Complaints".

As annoying as it may be just remember to keep your cool.

John in Port Moody