burnaby / new westminster apr 3, 2015 real estate weekly
DESCRIPTION
Since 1978 Real Estate Weekly has been synonymous with outstanding coverage of the Greater Vancouver residential real estate market. Today, published with recycled newsprint from its own high-speed presses in Vancouver, Real Estate Weekly is delivered by British Columbia's largest courier force to over 450,000 homes across the Lower Mainland. A total of 11 separate editions comprise the Real Estate Weekly, each featuring homes for sale, new developments and quality editorial coverage of the housing industry and the communities. Real Estate Weekly, quite simply, lists more homes for sale from more Realtors than any other publication in British Columbia. Real Estate Weekly is the number one source for Lower Mainland residential real estate and the first choice of both homebuyers and Realtors for more than three decades.TRANSCRIPT
R E A L E S T A T E W E E K L Y
GO TOREW.CA /NEWS
TO READ THESE STORIESAND MUCH MORE REAL ESTATE
NEWS AND ADVICE
What It Takes to Win a Bidding War in a Competitive Market
Ask the Expert: Do I Really Need Mortgage
Pre-Approval?
Photo Gallery: Ten Very Special Renovated Vancouver Specials
A common topic among real estate buyers is whether or not they should off er a price
that is much lower than the listed price. It’s an interesting concept, but one that is not without its pitfalls. Submitting an off er is one thing, but getting the off er accept-ed is another thing altogether. Let’s take a look at three diff erent factors to consider.
1) Be Certain You Fully Understand Market Conditions
In a market like Vancouver and
the Lower Mainland we are often
faced with an inevitable real-
ity – people really like living here.
Sellers are more than aware of
this, and are primed to take full
advantage.
Having a look at comparable
properties in the area that have
sold going back as far as two years
(or further) will give you a good
understanding of what the seller is
expecting. Maybe they’ve already
priced it low to encourage multiple
off ers or a quick sale? If that’s the
case, it’s likely they won’t even
submit a counter off er.
As real estate agents we are
very much held to account by what
the market will bear, and buyers
and sellers are not immune to this
either.
2) Make Sure You Are Willing To Negotiate
Starting will a low off er could be
considered disrespectful or a bul-
lying tactic. If that’s the case, why
not submit another off er slightly
higher if you don’t hear back from
the seller? If the goal is to get the
ball rolling on negotiations, being
fl exible can enhance the likelihood
of this occurring.
The #1 rule of real estate is to
not take things personally, so if
you plan of submitting an off er
that is substantially lower than the
listed price, make sure you off er
the seller something in return.
3) Your Offer Should Be As Clean As Clean Can Be
If price is your primary concern,
then the other subjects in the off er
should be valuable to the seller.
Is off ering a quick possession of
value? You never truly know some-
one’s motivation for selling – for
all you know this money could
be keeping a business afl oat or
needed to bail a family member out
of fi nancial trouble.
There is one thing that is con-
stant throughout the world, and
that is money makes it go round.
And cash is king! Use any superla-
tive you want, but quick money
can off er be a great thing to off er
a seller. Excluding the fi nancing
clause and off ering a large deposit
will let the other party know you
are serious and able to act quickly.
As a real estate agent in
Vancouver I personally prefer to
avoid lowball off ers, but a lot of
agents who work with investors are
more comfortable with this strat-
egy. It’s not my preferred way of
doing business, but at the end of
the day it’s always ultimately my
client’s decision whether or not
they want to submit or accept an
off er that is substantially lower
than the listed price.
More real estate advice from local Realtor Barry Magee at his website livinginvancity.com
Is Lowball Offeringa Legitimate Buying Strategy?
BURNABY NEW WESTMINSTER FRIDAY, APRIL 3, [email protected] • 604-435-7977
Looking to BUY or SELL a home? To assist you in making the best decisions,
a professional Realtor can provide the most
up to date information on the real estate
market, price, fi nancing and comparative
properties in your area.
Find your EXPERT Real Estate professional right here in REW.ca!
•2 REW.ca » BURNABY / NEW WESTMINSTER » FRIDAY APRIL 3, 2015
604-263-8800(24 HOURS)
ROCK SOLID PERFORMANCEwebsite: www.prudentialunitedrealty.com
email: [email protected] Realty
#201-2107 West 40th Ave., Vancouver, B.C. V6M 1W4 - Prudential United Realty - K742B - 4567 Lougheed Highway (Brentwood Mall) Burnaby, B.C.
Congratulations!Prudential United Realty congratulates all our top producers on their outstanding performance for 2014.
We are proud to recognize the work ethic and dedication that you have all shown to your profession; it is appreciated by your clients and fellow realtors. Keep up the good work.
Honour Society
Brad Nelson Vivienne Scudder Katerina Tarbouskas
Giselle Wong Eva YuLifestime Medallion Club Member
Francis Futama Gordon Legg Fred Wallace Paula Baverstock Michael Bertrand Edward Chiu
Chairman’s Circle-Gold
Nick ParentePrudential Legend 10 Years
Lifetime Medallion Club Member
Reg PerryDiamond Master Medallion
Club Member
President's Circle
William WatMaster Medallion Club Member
Hans GustMaster Medallion Club Member
Susan NinowPrudential Legend 5 Years
Leading Edge Society
Linda Fong Kenny Jason Fan Ross O'BrienGold Master Medallion Club Member
John Gust
REW.ca » BURNABY / NEW WESTMINSTER » FRIDAY APRIL 3, 2015 3•
Managing Broker: Derek DrewOffice Manager: Poonam GillAN INDEPENDENT MEMBER BROKER
Sutton - Centre Realty 3010 Boundary Road, Burnaby, B.C. V5M 4A1
Office: 604-435-9477 website: www.suttoncentrerealty.com
Most Homes SOLD In Burnaby For 2014** ** according to 2014 MLS statistics for single offices in Burnaby
centre realty Congratulates
Our Medallion Winners for 2014Congratulates
Our Medallion Winners for 2014centre realty
Joe BhangoTeam Member - 2 years
Darshan BrarLife Member
Simon CheungTeam Member - 1 year
Wayne ChowTeam Member - 1 year
Leonardo DiFrancescoLife Member
Vince D'OvidioLife Member
Pedro GomesTeam Member - 1 year
Angela H. HuangTeam Member - 1 year
Raymond HuiIndividual - 18 years
Brian KimIndividual - 7 years
Tino KuoTeam Member - 1 year
Wallis (Wan-Yu) LeeIndividual - 1 year
Spomenka NikicIndividual - 10 years
Gino PezzaniIndividual - 3 years
Ken PhoTeam Member - 2 years
Ryan A. RunteTeam Member - 4 years
Alan T. TsaiTeam Member - 5 years
Ralph P. TsaiTeam Member - 1 year
Randall N. LyTeam Member - 1 year
Timothy LyTeam Member - 1 year
Carlo MeloIndividual - 13 years
Frederick MoyIndividual - 24 years
Nadia NaderiIndividual - 1 year
Michael LiuIndividual - 1 year
Neha UnadkatTeam Member - 2 years
Brian VidasIndividual - 6 years
Andy P. WongLife Member
Eddie T. YanIndividual - 15 years
Alec ZhangIndividual - 5 years
•4 REW.ca » BURNABY / NEW WESTMINSTER » FRIDAY APRIL 3, 2015
JASON SOPROVICHEXCELLENCE IN THE LUXURY HOME MARKET
604.817.8812
soprovich.com
Magnifi cent Heritage Residence in Buckingham HeightsOriginated in 1892, the ‘Wintemute House’ is Burnaby’s most historical residence offering a one-of-a-kind tranquil setting complete with magnifi cent grounds, stone walls, lush landscaping, Porte Cochere and 5-car garage. This magnifi cent heritage residence is situated on a large 1/3-acre property in the heart of Burnaby’s most sought after and prestigious ‘Buckingham Heights’neighbourhood. Featuring complete privacy and approximately 5,000 sq. ft. on three sprawling levels, the home offers impeccablequality and fi nishings of yesteryear and has been meticulously maintained with the utmost of care and attention to detail. The bright open fl oorplan features 5 spacious bedrooms upstairs including a sensational master with sitting area, four gleaming bathrooms, spacious living and dining rooms with roaring fi replace, high ceilings with crown mouldings, a wonderful kitchen and eating area, a cozy family/games room with custom woodwork and ceiling detail, a private study with signature fi replace, mullion-paned heritage windows, miles of wainscoting, an elegant formal entrance and rich hardwood fl ooring – all opening through French doors to a gorgeous sunfi lled wrap-around veranda. Additionally, the home offers a crescent driveway, full basement, ample storage and sizeable attic that can be used as an extra guest bedroom or playroom for kids. Minutes to all local amenities includingMalvern, Braemar and Buckingham Parks. This exclusive estate can be yours today! PLEASE NOTE - The home is designated under the Heritage Act with The District of Burnaby and requires City approval before any exterior renovations or demolition is executed.
7640 Berkley Street, Burnaby Offered at $2,198,000
PETER JENSEN604.813.44909090
OPEN SAT APRIL 4, 1:30-3:30 PM7790 Nelson Avenue
FIRST OPEN!!! FIRST OPEN!!! JUST LISTED!!! Delightful character home minutes from Metrotown, rapid transit and all amenities. 2214 sqft on 3 levels. 2 full bath-rooms. 3 bedroom and den. Very solid. Upgrades include oak fl oors, oak kitchen cabinets, newer fl ooring on the main. Beautiful 260 sqft deck and Gazebo off the kitchen. Downstairs has just been redone with new carpets, fl ooring and paint. Nice updates with great SUITE POTENTIAL. (Possible future income if needed). 4599 sqft lot 2014 taxes $4227.52. This home is a must see. This is a great home just waiting for the right family. GO TO http://my-listing.ca/NelsonAve7790.html FOR FLOOR PLAN AND PICTURES.
Asking $899,000
OPEN HOUSEOPEN HOUSE
LORIPETTIGREW
www.YourRealtyDreams.com
604-649-7040
DEXTER ASSOCIATES REALTY
ALANYASIN
QUIET 2 BEDROOM & DENSFU VIEW HOME! Unique 2 bed & den has 2
large balconies with views of mountains and trees. Shows like new with granite counter tops, s/s kitchen appliances. Versatile open layout. Solid concrete building. Gym. 1 parking. Close to SFU, transit & amentities. Call to view this amazing home!
#607-9232 UNIVERSITY CRES.
www.dexterrealty.com
604-689-8226 Yaletown
604-336-3539 Main Street
604-263-1144 KerrisdaleTaking our
Listings Global
4536 NEVILLE ST. $1,878,000
LUXURY CUSTOM HOMEBeautiful custom home, built by experienced local builder, located in Burnaby South, right below Metrotown with gorgeous Southern view. Amazing fi nishings and top quality workmanship throughout the house. Top-of-the-line appliances; Sub-zero refrigerator, Wolf 6-burner stove, Miele dishwasher.Go Team 604-263-1144
JUST LISTED! $299,000
UPDATED 2 BEDROOM, 2 BATHROOM CONDO
UPDATED 2 bedroom, 2 bathroom condo with NEW stainless steel appliances and counter tops in Kitchen & bathrooms, in beautiful West Coquitlam. 10 minute walk to skytrain and Lougheed Mall and nearby Vancouver Golf Club, close to all major amenities, shopping, schools & S.F.U. Perfect for the fi rst time home buyer or for those looking to downsize. MUST SEE TO APPRECIATE. SHOWS LIKE NEW! #201 - 558 ROCHESTER AVE.Simmy Sandhu 604-897-5880
$335,800
BEAUTIFUL 2 BEDROOM SUITEBeautiful south facing private 2 bedroom suite facing green belt at Cascade Village. Large patio great for outdoor entertaining, tiled entry, fi re-place and French doors on second bedroom. Excellent recreation facility and outdoor gardens. Quiet, peaceful neighborhood. 107-3950 LINWOOD ST.Harj Romi Rai 604-689-8226
507-215 TWELFTH ST $245,000
TOP FLOOR OASIS
Discovery Reach by Bosa. Top fl oor unit with lots of updates. N.W. facing, open concept, parking, storage and more!
The Go Team
604-263-144
101-215 TWELFTH ST $229,000
GARDEN OASISS.W. facing garden level one bedroom in Discovery Reach by BOSA. Direct street access with private, fenced patio. 2 pets al-lowed.
Go Team604-263-1144
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115-3770 Manor Street
Cascade West! Immaculate 1-bdrm suite, above ground level. Large private patio on quiet side of building. Beautiful updates: hardwood floors, complete bathroom reno, kitchen floor, new fridge, d/w, garb, faucet. Well maintained build-ing. By appointment only.
Don’t miss this opportunity!
$257,800S
OLD
SO
LD
To assist you in making the best decisions, a professional Realtor can provide the most up to date information on the real estate market, price, fi nancing and comparative properties in your area.
Find your expert Real Estate professional right here in REW.ca!
LOOKING TO BUY OR SELL A HOME?
REW.ca » BURNABY / NEW WESTMINSTER » FRIDAY APRIL 3, 2015 5•
NOW OPENSHOWHOMES
Everyday at noon
(except Fridays)
� Top ranked Schools� Prime Hilltop Location with Views� Quality finishing included in the
purchase price� Quick access to major highways� Experience the difference today!
Prices and promotions are subject to change and availability without notice. E.&O.E.
Call 604.584.7273
9989 Barnston Dr. East, SurreySALES CENTRE AND DISPLAYS
HIGHCRESTLIVING.COM
Open Daily: 12:00 - 5:00pm (except Fridays)
MOVE IN NOW
CORNER OF HWY #1 & 176TH
LUXURY 3 AND 4BEDROOM TOWNHOMES.ELEVATED LIVING COMES TO PRESTIGIOUS FRASER HEIGHTS
IN THE $300’s10
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ve
DA
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o.1
HWY No.15 / 176 Street
HIGHCREST
Barn
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Dr.
E
Barnstss on Dr.rr Eastss
96
Ave
104
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ve
177A St
N
PRESENTATIONCENTRE
• 308 SALES AWARDS SINCE 1984 • REBGV LIFE MEMBER WESTCOAST
www. .com
48 Sales so far in 2015!
OUTSTANDING AGENT ... OUTSTANDING RESULTS
CHILDCARE CENTRE + PROPERTY$1,168,000 OWNER RETIRING! RARE GOLDEN
OPPORTUNITY to own this FULL-DAY CHILDCARE CENTRE business & property in the most DESIRABLE LOCATION in PORT COQUITLAM. This 1997 built 5329 sq ̓ LIVE/WORK 3-LEVEL FAMILY HOME/SCHOOL includes 1639 sqʼ+/- upstairs living quarters & a SUCCESSFUL PRE-SCHOOL & BEFORE/AFTER SCHOOL care programs business is on a 5635 sq ̓ CORNER PROPERTY. Run your childcare business, PAY YOUR OWN MORTGAGE INSTEAD OF RENT! Westburn Realty (604) 889-8001
Central Burnaby 1/2 Duplex5189 Manor Street • $788,000
Spacious family home 5 bdrms, 2 kitchens, 31/2 bathrooms...approx. 2000 s/f on two levels.Like NEW...8 yrs old. Liv/din Rm, Large kitchen. 2 bdrm revenue help-er. View of Northshore Mtns from balcony. Separate garage. Interior newly painted. Minutes to BCIT, SFU, Brentwood Mall and Metro Town.
OPEN Sunday 2-4
REW.ca » BURNABY / NEW WESTMINSTER » FRIDAY APRIL 3, 2015 5•
• 308 SALES AWARDS SINCE 1984 • REBGV LIFE MEMBER WESTCOAST
www. .com
48 Sales so far in 2015!
OUTSTANDING AGENT ... OUTSTANDING RESULTS
CHILDCARE CENTRE + PROPERTY$1,168,000 OWNER RETIRING! RARE GOLDEN
OPPORTUNITY to own this FULL-DAY CHILDCARE CENTRE business & property in the most DESIRABLE LOCATION in PORT COQUITLAM. This 1997 built 5329 sq ̓ LIVE/WORK 3-LEVEL FAMILY HOME/SCHOOL includes 1639 sqʼ+/- upstairs living quarters & a SUCCESSFUL PRE-SCHOOL & BEFORE/AFTER SCHOOL care programs business is on a 5635 sq ̓ CORNER PROPERTY. Run your childcare business, PAY YOUR OWN MORTGAGE INSTEAD OF RENT! Westburn Realty (604) 889-8001
Central Burnaby 1/2 Duplex5189 Manor Street • $788,000
Spacious family home 5 bdrms, 2 kitchens, 31/2 bathrooms...approx. 2000 s/f on two levels.Like NEW...8 yrs old. Liv/din Rm, Large kitchen. 2 bdrm revenue help-er. View of Northshore Mtns from balcony. Separate garage. Interior newly painted. Minutes to BCIT, SFU, Brentwood Mall and Metro Town.
OPEN Sunday 2-4
•6 REW.ca » BURNABY / NEW WESTMINSTER » FRIDAY APRIL 3, 2015
REW.ca » BURNABY / NEW WESTMINSTER » FRIDAY APRIL 3, 2015 7•
IT STARTS WITH VISION. REMEMBER YALETOWN’STRANSFORMATION?
TOWN CENTRE HOMESINCLUDING GROCERY, BANK, CAFE AND RESTAURANT
YVR
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This is not an offering for sale. One can only be made by way of a disclosure statement. E.&O.E.
VANCOUVER’S
LASTWATERFRONTNEIGHBOURHOOD
YALETOWNTHEN
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When Yaletown began it was just a few residential towers. Imagine if Urban Fare and Starbucks were there from the start. River District Town Centre will launch as a complete neighbourhood, with retail, restaurant, residences, parks and playgrounds. Now is your chance to become part of this new neighbourhood—built from the ground up on the last section of Vancouver’s waterfront.
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604.879.8830
NOW PREVIEWING
F R I D A Y , A P R I L 3 , 2 0 1 5BURNABY • NEW WESTMINSTER
Looking for a newhome? Start here.
R E A L E S T A T E W E E K L Y
I n P r i n t > O n l i n e > I t ’ s A l l H e r e
Despite the seemingly unstoppable rise in resale house prices in Metro Vancouver, the price of a newly built home in the city continued to drop in January this year, according to Statistics Canada fi gures released March 12.
New homes in the area fell 0.1 per cent com-pared with December 2014 and 0.6 per cent year over year, continuing the trend of recent months.
The New Housing Price Index also fell 0.6 per cent year over year and 0.1 per cent month over month across the whole of BC.
Victoria saw Canada’s biggest new home price decrease in January, dropping 1.5 per cent com-
pared with January last year, as well as 0.5 per cent since December.
Vancouver and Victoria were two of only eight metropolitan regions to report decreases in new home prices in January, out of a total of 21 areas surveyed.
The index combines both home and land val-ues. As in previous months, the above decreases in value were entirely attributed to developers reporting a drop in negotiated home prices, with land values remaining unchanged for several months.
Across Canada, the index increased 1.4 per cent year over year but fell 0.1 per cent month over month.
Calgary again reported the country’s biggest jump in new home prices in January, rising 5.1 per cent year over year.
Vancouver and BC New Home Prices Offer Buyers Increasingly Good Value