At a Glance

• up to 810 housing units in two striking towers
• a third tower incorporating office and retail space
• 7-storey podium featuring retail, amenity and office space
• sculptural curving glass facade
• inspired by design and sustainability excellence

Currently in preconstruction phase, the proposed three towers of the Burrard Gateway condominium development will provide a memorable welcome to the downtown as the project’s curved facade is first glimpsed from the crest of the Burrard Bridge.

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Located at the corner of Burrard and Drake, the project will include two residential condo towers with up to 810 condominiums and other housing units. A third tower is planned to provide office space and will be anchored by a strikingly designed “hall of mirrors” auto showroom.

Burrard Gateway is delivered to Vancouver by Reliance Properties and Jim Pattison Developments, with architectural input from the pride of the West Coast—Bing Thom Architects.

Contact me today to learn how you could own a home in this remarkable addition to the Vancouver skyline.

Burrard Gateway Fact Sheet

Burrard Gateway—Towering Sentinels to the Downtown

With the proposed 48- and 36-storey towers, Burrard Gateway will gracefully reshape the Vancouver skyline. The proposed development includes a 5,200 square foot daycare, a community gallery and a skillfully designed public courtyard. The plans even include a unique car-sharing program to be operated by Toyota.

Development Team for Burrard Gateway

The development team at Reliance Properties has been helping build and preserve Vancouver’s architectural heritage for more than 50 years. They have enhanced the urban experience with everything from award-winning heritage restorations to the landmark luxury of West Pender Place at Coal Harbour.

With a portfolio of more than 9.4 million square feet of buildings under ownership and management in North America, Jim Pattison Developments is perfectly situated as a partner for the Burrard Gateway project.

World-renowned Bing Thom Architects has provided input on the tower design. Bing Thom recently captured British Columbians’ attention with the highly praised Surrey City Centre Library.

Pricing for Burrard Gateway

A Price List for Burrard Gateway is not yet available. If you are interested the pricing as soon as its available please fill out this form.

Floor Plans for Burrard Gateway

Floor plans for this project are not yet available. If you are interested in receiving them when they come available, please fill out this form

Deposits for Burrard Gateway

Uncertain at present, but expect a percentage of the purchase price to be payable before completion.

Expected Completion for Burrard Gateway

The project’s rezoning application was revised in March 2013.

1290 Burrard St & 1281 Hornby St – Notification Postcard (RZ & OH 2013-06-24)

Information on expected completion date is not yet available.

Burrard Gateway Postal Code

V6Z

Looking for Other Condos Nearby?

Check out Modern by Amacon with Video, Floor Plans, and Pricing!

Vancouver Houses and Asbestos for Buyers

Asbestos can be a very scary material.

I recently had some clients who were particularly concerned about Asbestos in homes in Vancouver and I was fortunate enough to have Dave Brighton from meet with us to answer a few questions on the topic.

What is Asbestos?

Asbestos is a mineral that was widely and commonly used worldwide in insulating products and other housing materials since the early 1900′s. In the 1970′s & 80′s it became widely known to be a highly toxic product that has resulted in this product being banned for most consumer uses.

How common is Asbestos in Houses and What areas does it show up?

Asbestos is a very common product. It was used in the 1920s right up until the mid-1980s. Its usually found in houses built before the 1980′s around the duct work, piping, and venting of heating systems or often in the form of the insulation in a product called Vermiculite. It can also be a lot of other places such as in flooring tiles, shingles, drywall mud, and ceiling coatings.

A large portion of the houses in Vancouver were built before the 1980′s, so there is a very good chance if you are looking for an older home in Vancouver you will come across or will have to deal with Asbestos.

How do we know if a House has Asbestos or not?

Hire a Home Inspector.

If a Home Inspection turns up Asbestos, what should a Buyer do?

There are asbestos removal companies that can give a quote on how much it will cost to have it safely removed.

If Asbestos is found, when should a Buyer be concerned about asbestos?

According to Dave Brighton Asbestos that is left undisturbed can be quite safe. BUT, if you are thinking about renovating or making changes to a house containing Asbestos, that’s when you need consult with a qualified Asbestos Removal Professional. Based on their findings they may advise the Asbestos be professionally removed.

Your offer on the home should be subject to a home inspection, so if the cost, risk, or comfort level associated with the asbestos in the house is too high for the buyer, the buyer can kill the deal.

Remember – If you are concerned about Asbestos in a property, please consult with a qualified Asbestos Removal professional!

Worksafe BC has a great site on asbestos called Hidden Killer. I have embedded this WorkSafe BC Video for more information on Asbestos for reference:

I STRONGLY RECOMMEND COMMENTS & QUESTIONS BELOW!

May 2013 REBGV Stats Mike Stewart

Spring months bring balance to Greater Vancouver housing market

While the number of home sales in Greater Vancouver continued to trend below the 10-year average in May, the balance of sales and listings meant continued market stability this spring.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,882 on the Multiple Listing Service® (MLS®) in May 2013. This represents a one per cent increase compared to the 2,853 sales recorded in May 2012, and a 9.7 per cent increase compared to the 2,627 sales in April 2013.

Last month’s sales were 19.4 per cent below the 10-year sales average for the month, while new listings for the month were 7.4 percent below the 10-year average.

“We’ve seen some steadying trends over the last three months,” Sandra Wyant, REBGV president said. “The number of homes listed for sale has been keeping pace with the number of property sales, leading to a balanced sales-to-listings ratio. This is having a stabilizing influence on home price activity.”

New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,656 in May. This represents an 18.3 per cent decline compared to the 6,927 new listings reported in May 2012 and a 3.7 per cent decline from the 5,876 new listings in April of this year.

The total number of properties currently listed for sale on the MLS® in Greater Vancouver is 17,222, a 3.4 per cent decrease compared to May 2012 and a 2.9 per cent increase compared to April 2013.

The sales-to-active-listings ratio currently sits at 17 per cent in Greater Vancouver. This is the third straight month that this ratio has been above 15 per cent. Previous to this, May 2012 was the last time this ratio was above 15 per cent.

The MLS® Home Price Index composite benchmark price for all residential properties in Greater Vancouver is currently $598,400. This represents a decline of 4.3 per cent compared to this time last year and an increase of 1.8 per cent compared to January 2013.

Sales of detached properties reached 1,212 in May 2013, an increase of 2.7 per cent from the 1,180 detached sales recorded in May 2012, and a 22.8 per cent decrease from the 1,570 units sold in May 2011. The benchmark price for detached properties decreased 5.2 per cent from May 2012 to $917,200.

Sales of apartment properties reached 1,136 in May 2013, a decline of 1.7 per cent compared to the 1,156 sales in May 2012, and a decrease of 7.5 per cent compared to the 1,228 sales in May 2011. The benchmark price of an apartment property decreased 3.7 per cent from May 2012 to $365,600.

Attached property sales in May 2013 totalled 534, an increase of 3.3 per cent compared to the 517 sales in May 2012, and a 7.8 per cent decrease from the 579 attached properties sold in May 2011. The benchmark price of an attached unit decreased 3.2 per cent between May 2012 and 2013 to $454,900.

188 Keefer at a Glance

• 134 condominium homes
• 22 rental suites targeted for senior citizens
• Make your home in historic Chinatown
• 17 storeys of city views
• Designed by award-winning W.T. Leung Architects
• High-end appliances
• Super-efficient floor plans
• Over 4,000 square feet of amenities
• Starting from $239,900

188 Keefer Vancouver condos will offer high-end living in one of Vancouver’s most dynamically transforming real estate districts. Located at 188 Keefer St. (Main and Keefer), the development will be a burst of new life on the site of a former casino.

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Residents will love the easy access to downtown Vancouver, Gastown, False Creek and the SeaBus at Waterfront Station.

Making a home in this fast-growing and rapidly gentrifying neighbourhood is not only exciting, but provides a coveted investment opportunity made possible by the powerhouse team at Westbank.

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Now is the time to investigate this remarkable development. Contact me today to explore this exciting condo opportunity.

188 Keefer Vancouver Condos—Making Your Home in a Neighbourhood of History and Promise

188 Keefer is destined to become an exciting addition to Vancouver’s already rapidly evolving Chinatown. Lucky residents in the sleek 17-storey tower will need only to gaze out the windows to choose among the many amazing nearby parts of the city to visit or shop.

Pricing for Suites at this Preconstruction Vancouver Condo Development

One-bedroom units at 188 Keefer will start at $239,900 and two-bedrooms at $399,900.

Floor Plans at 188 Keefer

Dwellings in the 188 Keefer development feature two stylish and efficient floor plans:

• Podium suite plans until the ninth floor
• Tower suites from floors ten to seventeen

Look here for more details on floor plans as soon as they become available.

Interiors at 188 Keefer

Finishings in the podium and tower suites have been carefully selected for their luxury and usability. The tower suites will feature:

• Corian counters
• Custom glass backsplashes
• Miele/Blomberg appliances
• Engineered floors

Check back soon for more details on bathroom and kitchen amenities.

Development Team for 188 Keefer

Westbank is hailed as one of Canada’s premier real estate developers and recognized as a local leader in high-end affordable residences. They are the developers behind many of Vancouver’s most iconic properties, including :

• Fairmont Pacific Rim
• Mixed-use redevelopment of the former Woodward’s site
• Signature Shangri-la Vancouver

The attractive tower has been designed by W.T. Leung Architects Inc., recipients of a shelf-full of Canadian Home Building and City of Vancouver Heritage awards. W.T. Leung Architects has a more than 25-year record of designing successful residential and commercial properties, including more than a billion dollars worth of construction in the Greater Vancouver area alone.

Deposits for 188 Keefer Vancouver Condos

188 Keefer is currently in the preconstruction registration phase. The development will soon enter a promotion phase requiring only 5% down from homeowners.

Expected Completion for 188 Keefer

No completion date has been released, but it will appear right here as soon as possible. Estimated condo fees and the scoop on parking and storage will also follow the moment they’re available.

A World of Amenities at 188 Keefer

Residents at 188 Keefer will make their home in an urban oasis with a striking range of amenities in a remarkable 4,000 square feet of indoor and outdoor space to relax and play.

• 2,500 square foot outdoor terrace with:
  • BBQ
  • outdoor dining table
  • fire pit
  • garden plots
  • kids’ play zone

• A hub of indoor amenities beginning with:
  • lounge
  • fitness centre
  • entertainment kitchen

The visual centerpiece of the development will be a thought-provoking public art installation by local artist Ron Terada.

188 Keefer Postal Code

V6A 4E9

First Time Home Buyer Safety – Subject to Inspection in the Contract of Purchase and Sale!

In Episode 14, we talked about Subject to Financing and how this is a powerful way to protect a first time home buyer when it comes to financing. Today we are going to talk about the Subject to Inspection clause in the Contract of Purchase and Sale and how this can protect a new home buyer in Vancouver.

What is an Inspection When Buying a Home in Vancouver?

An Inspection or Home Inspection as they are commonly referred to in Vancouver is when the Buyer has a qualified and certified Home Inspector check over the physical condition of the property that is of interest.

In most cases the Home Inspection is done after there is an accepted offer and the Home Inspector checks the following:

• The exterior envelope of the home (be it a condo or a house) that including, the foundation, parking garage, the roof, the walls, etc as well as the drainage systems and any out buildings or features on the grounds of the property
• The interior of the home and all its mechanical and structural systems including plumbing, electrical, flooring, wall systems like drywall, ventilation, windows, skylights, etc

At the end of the Home Inspection, the Buyer receives and inspection report which will clearly lay out the condition of the property and any issues the property may have.

Why do We Use Subject to Inspection?

Quite simply, a Home Inspection is designed to protect the Home Buyer from a money pit or in BC a Leaky Condo.

The Subject to Inspection works just like the other Subject Clauses in that the Buyer gets an accepted offer on the property that is subject to the Buyer approving the results of their home inspection. If the Buyer does not like what they see in the home inspection they can either re-negotiate the accepted offer or kill the deal.

Here is an example of a Subject to Inspection clause:

Subject to Inspection – Power to Kill a Deal

The Subject to Inspection clause gives a buyer a very powerful protection in that it allows the Buyer to walk away from a deal if they are not happy with the physical condition of the property once the home inspection has been done.

The buyer can also re-negotiate the contract based on the findings of the inspection (provided the Seller agrees to negotiate at that point) and threaten to kill the deal if the Seller does not agree to the Buyers proposals to repair or deal with the issues discovered in the home inspection.

In episode 16 we will talk about Subject to clause covering the documentation required to purchase a property in Vancouver. Stay tuned!!

Looking for Condos before they hit MLS?

Check out this great series of videos on Vancouver Presale Condos!

What to know how much is costs to sell a Property in Vancouver?

Check out this great Realtor Fee Calculator!

I STRONGLY ENCOURAGE QUESTIONS BELOW!

REBGV Stats Package, April 2013 by Mike Stewart

Spring delivers greater balance to Greater Vancouver housing market

A closer relationship between home buyer demand and the supply of homes for sale has been having a stabilizing impact on home prices in the Greater Vancouver housing market over the last three months.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,627 on the Multiple Listing Service® (MLS®) in April 2013. This represents a 6.1 per cent decrease compared to the 2,799 sales recorded in April 2012, and an 11.9 per cent increase compared to the 2,347 sales in March 2013.

Last month’s sales equate to the lowest April total in the region since 2001 and 20.9 per cent below the 10-year sales average for the month.

“While the number of home sales remains below average, properties that are priced right are selling and we’re seeing greater balance between buyer demand and the number of homes listed for sale. This is having a steadying influence on home prices in the region,” says Sandra Wyant, REBGV president.

New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,876 in April. This represents a three per cent decline compared to the 6,056 new listings reported in April 2012 and a 21.4 per cent increase from the 4,839 new listings in March of this year. Last month’s new listing count was 0.4 per cent above the region’s 10-year new listing average for the month.

The total number of properties listed for sale on the MLS® in Greater Vancouver is 16,730, a 1.2 per cent increase compared to April 2012 and an 8.2 per cent increase compared to March 2013.
The sales-to-active-listings ratio currently sits at 15.7 per cent in Greater Vancouver. This is the second consecutive month that this ratio has been above 15 per cent. Previous to this, May 2012 was the last time this ratio was above 15 per cent.

“There have been modest increases in home prices across the region over the last three months. This comes on the heels of home price declines of approximately five to six per cent in Greater Vancouver during the last half of 2012,” Wyant said.

The MLS® Home Price Index composite benchmark price for all residential properties in Greater Vancouver is currently $597,300. This represents a decline of 3.9 per cent compared to this time last year and an increase of 1.6 per cent compared to January 2013.

Sales of detached properties reached 1,064 in April 2013, a decrease of 5.5 per cent from the 1,126 detached sales recorded in April 2012, and a 24.1 per cent decrease from the 1,402 units sold in April 2011. The benchmark price for detached properties decreased 5.2 per cent from April 2012 to $914,000. Since January the benchmark price of a detached home has increased 1.4 per cent.

Sales of apartment properties reached 1,052 in April 2013, a decline of 11.6 per cent compared to the 1,190 sales in April 2012, and a decrease of 12.4 per cent compared to the 1,201 sales in April 2011. The benchmark price of an apartment property decreased 2.6 per cent from April 2012 to $365,900. Since January the benchmark price of an apartment home has increased 2.1 per cent.

Attached property sales in April 2013 totalled 511, an increase of 5.8 per cent compared to the 483 sales in April 2012, and a 17.8 per cent decrease from the 622 attached properties sold in April 2011. The benchmark price of an attached unit decreased 3.5 per cent between April 2012 and 2013 to $455,200. Since January the benchmark price of an attached home has increased 1.2 per cent.

Looking for last months stats? Check out the March 2013 REBGV Stats!

Arbutus Ridge—A Perfect Mix of Community and Private Living in One of Vancouver’s Most Sought-After Neighbourhoods

At a Glance

• 47 condominiums
• 2 townhomes
• Curved limestone and undulating brick facade
• Featuring the signature CresseyKitchen™
• Topped with the iconic red “Ridge” sign
• Upscale market
• Starting from $434,900

Arbutus Ridge is destined to become a centerpiece of Vancouver’s remarkably livable Westside. Situated on a natural elevation at 3113 Arbutus Street (at Arbutus and 16^th), the development will feature true West Coast architecture and amazing views from striking terraces and outside living areas. The Cressey team is once again offering luxury designer finishes and spacious floor plans in a dynamic part of the city with perfect access to shopping, schools and other amenities.

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The features, views and extraordinary details of this property will draw strong interest. Don’t miss out on the opportunity to make your home in this iconic development. Contact me today.

Arbutus Ridge will be unlike any other property on the Westside. The building’s iconic and eye-caching design and its location on a natural elevation along tree-lined streets will thrill residents with the sensation of living inside a piece of architectural art. Arbutus Ridge’s proximity to shopping, services, beaches and the province’s top-ranked schools also make it a highly desirable location for homeowners.

The building will be set back from the street to afford space and privacy. But Arbutus Ridge homeowners will also feel beautifully embedded in the community—street-level green spaces and benches and a flourishing market are certain to make the development a vibrant hub.

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Pricing for Suites at this Preconstruction Vancouver Condo Development

Arbutus Ridge Preview Price Sheet

One-bedroom units at Arbutus Ridge will start at $434,900. One-bedroom + den starts at $484,900. Two-bedroom + den units are offered starting at $674,900 or $1,170,000 with terrace. Penthouses start at $989,900. Two townhomes are available starting at $1,550,000.

Views at Arbutus Ridge by Cressey

Located on a ridge (hence the name), Arbutus Ridge will have views to the North, South, and West.

Floor Plans at Arbutus Ridge

Condos at Arbutus Ridge will be a mix of 1- and 2-bedroom units in a striking 4-storey concrete low-rise featuring ample private and communal outdoor spaces.

• One-bedrooms at this Westside development will be in the 624 to 682 sq. ft. range. Most include a den.
• Most Arbutus Ridge units are spacious two-bedroom suites, many with den, all more than 950 sq. ft., with the largest over 1,500 sq. ft. The townhomes are generous at just over 1,800 sq. ft.
• The podium level will feature the amazing convenience of an upscale food market. Large balconies and rooftop patios starting at 900 sq. ft. offer perfect outdoor living spaces with views of Point Grey and Pacific Spirit Park.

Arbutus Ridge Presale Floor Plans Mike Stewart

 Interiors at Arbutus Ridge

The sophisticated, spacious and amenity-packed interiors at the Arbutus Ridge development have been designed to impress, with:

• Expansive use of marble throughout
• Master bedrooms large enough to fit a king-size bed comfortably
• Hardwood floors
• Large windows
• Ample storage space
• Graceful bathrooms
• Captivating views

The elegance of each suite starts with the signature CresseyKitchen™, which includes:

• Wolf and Sub Zero appliances
• European-inspired cabinetry
• Beautiful marble and granite countertops and backsplash
• Undermount lights
• Pot lights
• Display niche

Bathrooms will be elegant:

• Marble baths
• European designer hardware
• Designer tubs

Development Team for Arbutus Ridge

Cressey Development Group has more than 40 years of experience in creating unique homes. They pride themselves on unparalleled efficient layouts that maximize views and the selection of rare and striking building materials. Their passion and commitment are highlighted in each square inch of the renowned CresseyKitchen™.

Locally, Cressey has developed the award-winning Donovan tower on Richards Street, the landmark Elan on Seymour Street and the sophisticated James building on West 1^st Avenue.

Arbutus Ridge’s inspired architecture was created by IBI Group. They have a distinctive portfolio of projects from around the world, including Coal Harbour’s Three Harbour Green.

The luxurious interiors are masterpieces by Trepp Design.

Deposits for Arbutus Ridge 

Arbutus Ridge is currently in the preconstruction registration phase.

A 10% deposit will be due at time of offer. An additional 5% will be due on the latter of the amendment to disclosure or 90 days after acceptance, and a final 5% deposit becomes due on the latter of 90 days following the 2^nd deposit or 180 days following vendor’s acceptance.

The completion date for Arbutus Ridge is estimated for the fall of 2015.

Parking and Storage at Arbutus Ridge

Homes at Arbutus Ridge include 1 parking stall. No details are currently available on storage.

Unparalleled Amenities at Arbutus Ridge

The amenities available to Arbutus Ridge homeowners have been selected to fit perfectly into a dynamic, pampered and secure lifestyle:

• Spacious and elegant residential lobby
• Fitness room
• Landscaped pedestrian boulevard with benches and green spaces
• Private secure parking entryway
• Sustainable energy/water efficiency features

Condo fees will be approximately $0.37 per square foot, heat included. Hydro will be extra and a very efficient air conditioning system will be part of hydro.

Arbutus Ridge is in the heart of Vancouver’s Westside, one of the most coveted locations in one of the greatest cities in the world. Residents will have perfect access to:

• Vancouver’s multicultural Broadway Avenue and its wealth of shops, restaurants and services
• Direct transit to the University of British Columbia
• Major transit arteries connecting to the whole city
• Short and convenient trips to the beach
• The natural beauty of Pacific Spirit Park

Arbutus Ridge Postal Code

V6J 3Z3

Looking for Other Luxury Condos in Vancouver?

Have a look at the Views in Coal Harbour or Shannon Wall Centre in Shaughnessy!

Real Estate Commissions are Split in Vancouver?

Yes! When a Realtor is hired by a Seller to list a property for sale, the Listing Contract states that the Seller will pay this Realtor (Sellers Agent/Listing Agent) a commission should the property sell during the period in which the Listing Contract is in force.

Now, if a prospective seller was to calculate what they would have to pay in terms of commission (Want to know how much quick? Check out this Realtor Commission Calculator!), some might think it a lot of money to go to one person, but that’s not really what’s going to happening!

Real Estate Commission Splits = Buyers Agent Bait?

In Vancouver, The Sellers Realtors (Sellers Agents/Listings Agents) split around HALF of the real estate commission set out in the Listing Contract and offer it to Buyers Agents.

This is done to encourage (bait) Buyers Agents to bring their Buyers to see the property within an eye to purchase it.

The successful Buyers Agent who’s Buyer actually purchases the property receives their split or share of the commission paid by the seller when the property Completes at the Land Titles Office and ownership changes hands.

Just to reiterate – Buyers do not pay their Buyers Agents!

The Seller pays a commission to the Sellers Agent who then splits that commission with the Buyers Agent when the property sells!

Also, there is a requirement that Buyers Agents disclose in writing how much commission they earn to the Buyers they represent on these deals!

Buyers Agent Commission Impacts Marketing?

When marketing properties in Vancouver, we target both Buyers and Buyers Agents.

Buyers Agents get paid when the Buyers they represent purchase properties. they tend to be motivated by money

The amount of commission offered to Buyers Agents and how that is communicated can have an impact on how quickly a property will sell.

To spur interest among Buyers Agents and get a property sold sooner, Sellers sometimes offer a commission bonus or some other extra. Some Sellers choose to work with discount brokerages in the hopes of saving money and offer a smaller commission to Buyers Agents.

As the topic of how much commission to offer a Buyers Agent is sensitive, I’ll let readers come to their own conclusions on which strategy for Buyers Agent commissions is best.

Isn’t There a Conflict of Interest if the Seller Pays the Buyers Agent?

No! The Agency Relationship or the fiduciary duty of the Buyers Agent is to the Buyer and only the buyer as per the Working with a Realtor Brochure.

In plain language the Buyers Agent is loyal to the Buyer and only the Buyer. The Sellers Agent offers the Buyers Agent a commission to bring their Buyers, but this does not cause the Buyers Agent to have any relationship to the Seller.

If you have any questions please feel free to ask! QUESTIONS ARE STRONGLY ENCOURAGED!

Looking for Info on How to Sell a Property in Vancouver?

Have a look at these great videos on Selling a Home in Vancouver!

Looking for New Condos in Yaletown?

Check out this great video on One Pacific by Concord Pacific!

At a Glance

• 90 boutique condominiums
• 1, 2, & 3-bedroom units
• Six storey plus a penthouse
• 1-bedrooms from the 260s, 2-bedrooms from the 390s
• Mountain & skyline views
• Parking with every unit
• Green roofs & urban gardens

Shine is the latest residential pre-construction condo offering in the South Main (SOMA) neighborhood – a stunning collection of 90 view homes at East 6th Avenue and Scotia Street. Centrally located on a quiet residential street, Shine offers convenient access to both Main Street and Downtown amenities, as well as views of Downtown, and North Shore Mountains.

With only 90 homes available, Shine should sell out quickly. Don’t miss out on your chance to own or invest in this vibrant, trendy Vancouver neighbourhood. Contact me today.

Shine  – A Great Opportunity to Own or Invest in Vancouver’s Hottest Neighbourhoods

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Shine will have you living in the centre of SOMA, Vancouver’s newest ‘It’ place to work, play, socialize and relax. Located close to emerging boutique restaurants and pubs, as well as a stone’s throw away from the thriving Olympic Village, historic Gastown and Chinatown, Shine is sure to be one of the most sought-after developments in one of Vancouver’s most eclectic neighbourhoods.

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Pricing for Suites at this New Presale Vancouver Condo Development

1-bedrooms will start at $268K (with parking and locker!) and 2-bedrooms from $390K (with parking and locker!).

Shine Presale Price List Mike Stewart

Floor Plans at Shine

Condos at Shine will be a mix of 1-, 2- and 3-bedrooms, with most units boasting work or flex space. Nearly every unit will also feature outdoor space, whether it’s a patio or balcony.

Shine Presale Vancouver Floor Plans Mike Stewart

Views at Shine

Expect North Shore Mountain and City Views for northern exposure suites and City views for the rest of the homes.

Interiors at Shine

Shine is gunning for a seriously stylish look, with the kinds of clean, bright touches you’ve come to expect from Vancouver condo developments, with a few wrinkles you might not have.

•  Wide-plank birch laminate floors in kitchens, living & dining areas
• Carpeted bedrooms
• In-suite laundry with GE Energy Star washer/dryer
• Two distinct interior colour schemes

Kitchens:

• Contemporary hi-gloss white upper cabinets (choose from wood grain or hi-gloss white lowers)
• Quartz stone countertop
• Stylish ceramic tile backsplash
• Modern undermount sink
• Parma faucet with chrome pullout spray
• GE’s Stainless Steel Energy-Star appliances:
• Stainless steel electric range
• Ceramic glass cooktop
• Over-the-range microwave oven
• Built-in dishwasher
• Full-size refrigerator with pull-out freezer

Bathrooms:

• White ceramic tile on bathtub and shower surround
• Durable 12” x 24” porcelain tile flooring
• Low profile white basin
• Choose from white or wood-grain cabinets
• Gerber chrome single lever faucet
• Gerber chrome tub and shower fixture
• Dual-flush toilet with soft-close seat
• Deep soaker tub

Development Team for Shine

Since 1985, Imani Development has been behind behind some of Canada’s most renowned and successful developments. From distinctive single family and townhomes throughout the Lower Mainland to condo developments like Charm in Vancouver’s Cedar Cottage area, the company is building a sterling reputation for delivering a quality product on time.

Presale Deposits for Shine

The presale deposit structure at this condo development is 10% down, 5% more in 6 months, followed by an additional 5% after 12 months.

First time homebuyers can own with 5% down and a CHMC certificate.

Expected Completion for Shine

Shine is expected to be complete by summer 2015.

Parking and Storage at Shine

Each unit at Shine comes with a parking spot. No word yet on whether additional spots can be purchased. Check back.

Residents will also have a secure storage locker and bike storage.

Amenities at Shine Condo Development

Residents at Shine will enjoy basic amenities:

• Shared courtyard with fire pit, BBQ area and outdoor cinema
• Rooftop deck with amazing skyline views
• Office space with desks, Internet & more

Developers suggest the strata fees should be around $0.32 per sq ft.

SHINE Postal Code

V5T 1J7

Looking for Other Condos in South Main or Mount Pleasant?

Check out these great Mount Pleasant Presale Condos!

Looking for tips on Buying a Pre-Construction Condo in Vancouver?

Check out this great series on How to Buy a Presale Condo!

March 2013 REBGV Stats Mike Stewart

Home sale activity improves but remains below historical averages

Lower levels of both supply and demand in recent months are holding home prices in check in the Greater Vancouver housing market.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,347 on the Multiple Listing Service® (MLS®) in March 2013. This represents an 18.3 per cent decrease compared to the 2,874 sales recorded in March 2012, and a 30.6 per cent increase compared to the 1,797 sales in February 2013.

Last month’s sales were the second lowest March total in the region since 2001 and 30.2 per cent below the 10-year sales average for the month.

“While home sales were below what’s typical for March, we are seeing more balance between the number of sales and listings on the market in the last two months, which is having a stabilizing impact on home prices,” Sandra Wyant, REBGV president said.

The sales-to-active-listings ratio currently sits at 15.2 per cent in Greater Vancouver, a three per cent increase from last month. This is the first time this ratio has been above 15 per cent since May 2012.

New listings for detached, attached and apartment properties in Greater Vancouver totalled 4,839 in March. This represents a 17.2 per cent decline compared to the 5,843 new listings reported in March 2012 and a 0.1 per cent increase from the 4,833 new listings in February of this year. Last month’s new listing count was 14.4 per cent below the region’s 10-year new listing average for the month.

The total number of properties currently listed for sale on the MLS® in Greater Vancouver is 15,460, a 1.5 per cent increase compared to March 2012 and a 4.5 per cent increase compared to February 2013.

The MLS® Home Price Index composite benchmark price for all residential properties in Greater Vancouver is currently $593,100. This represents a decline of 3.9 per cent compared to this time last year and an increase of 0.9 per cent compared to January 2013.

Sales of detached properties reached 933 in March 2013, a decrease of 21.1 per cent from the 1,183 detached sales recorded in March 2012, and a 48 per cent decrease from the 1,795 units sold in March 2011. The benchmark price for detached properties decreased 5 per cent from March 2012 to $906,900.

Sales of apartment properties reached 982 in March 2013, a decline of 17.5 per cent compared to the 1,191 sales in March 2012, and a decrease of 39.5 per cent compared to the 1,622 sales in March 2011. The benchmark price of an apartment property decreased 3.3 per cent from March 2012 to $362,100.

Attached property sales in March 2013 totalled 432, a decline of 13.6 per cent compared to the 500 sales in March 2012, and a 34.8 per cent decrease from the 663 attached properties sold in March 2011. The benchmark price of an attached unit decreased 2.5 per cent between March 2012 and 2013 to $454,300.

April 1 marked the return of the GST and PST tax structure in the province. From a real estate perspective, it’s important to remember that:
• sales tax on a new home is reduced to 5 per cent GST plus 2 per cent BC Transition Tax (total 7 per cent) from 12 per cent under the HST; and
• tax on real estate commissions has been reduced to 5 per cent from 12 per cent under the HST.

These reduced tax rates apply to transactions payable on or after April 1.

Want to see REBGV Statistics for Last Month?

Check out the February 2013 Vancouver Real Estate Stats Here!