VANCOUVER EASTSIDE THURSDAY, FEBRUARY 4, 2016info@rew.ca • 604-435-7977

R E A L E S T A T E W E E K L Y

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!

On February 8, 2016, the 4,713th Chinese year

will begin. This will be the Year of the Monkey

– linked with both economic turmoil and the

potential for reaping profi ts from well-calculated risks

– the idea of outsmarting the monkey.

With China in the grip of fi nancial upheaval, could

this mean more bad news for the Metro Vancouver real

estate aff ordability? Will our prices further escalate as

wealthy Chinese buyers scramble to park their money

in a secure location?

According to most industry watchers and analysts,

the answer is no – although consumers shouldn’t

expect to see inventory shortages disappear any time

soon, nor a drop in prices.

The general consensus from industry insiders is that

the fi nger of blame should not be pointed so intensely

at money coming in from China, as there are plenty of

other factors at play pushing up local housing prices.

“There tends to be an

overemphasis on the [impact of the]

off shore buyer,” says Richard Bell,

principal of Bell Alliance, a local law

fi rm specializing in real estate and

immigration. “Last year, 25 per cent

of our conveyancing business came

from local millennials. Baby boomers,

too, are selling their family homes

and often buying several homes – a

condo for themselves, one for their

kids and perhaps an investment

property. These are all people who

have lived here for years.”

Asian Does Not Equal OverseasStudies and marketing surveys

consistently suggest there is actually far

less ownership from Mainland China than

the public perceives. In a recent report

by BC Notaries, 33 per cent of notaries in

Greater Vancouver said they had no foreign

buyer transactions last year and a whopping

52 per cent said 10 per cent or less of their

transactions represented a foreign buyer.

At The Independent, Rize Alliance’s

development in East Vancouver, 60 per cent

of buyers registered a postal code within

10 kilometres of the building, including 40

per cent who were within fi ve kilometres. Only 2.2

per cent of the purchasers were from off shore and a

further 1.1 per cent from outside Canada.

“People forget that 48 per cent of Vancouver is

of Asian origin,” says Bob Rennie, Vancouver’s well-

known marketing superstar. “So you will see plenty of

black hair coming through the presentation centres.

But it shouldn’t be about race and off shore money –

it’s about supply and demand. And there is a shortage

of supply, so prices will keep going up.”

The Trickle FactorThere’s also what Bell describes as the trickle

factor. “If you do have a wealthy off shore buyer

willing to pay $4 million for a property previously

worth $3 million, it will raise the price of surrounding

properties. Those buyers may then have to spend

$3 million on a property previously valued at $2.5

million, and the eff ect will keep tricking down.”

Bill Szeto, president of Oakwyn Marketing, is

quick to stress the same trickle-down result occurs

when a downsizer sells, for millions of dollars, the

home they purchased 40 years ago for $20,000.

Once again, rising prices are a factor of supply and

demand, not ethnic background, he says.

“People say how ridiculous Vancouver prices

are, but on the global scale, they aren’t,”

Szeto adds. “My client from San Diego wanted

to buy a Manhattan home at US$3,000 per

square foot. If he came to Vancouver, he could

fi nd a $6 million property and get it at the

equivalent of a 40 per cent discount thanks to

the weakness of the Canadian dollar. It’s like

buying at fi re-sale prices.”

Time for Taxation?One controversial solution that’s been making

headlines is placing a tax on foreign ownership

to bolster aff ordability for locals. But Tammy

Morin Nakashima, president of BC Notaries,

says, “Our survey results point to the need for

careful consideration of any related legislative

changes.”

A tax has also been proposed for homes

that are purchased and then sit empty. It’s a

concept Bell says he struggles with. “It creates

a bureaucracy that now needs to be measured,

monitored and enforced. And what happens in the

case of an elderly person who may be hospitalized for

several months?” (In fact, the new vacant home tax

recently proposed allows for such circumstances – go

to REW.ca/News for details.)

A tireless advocate of density as the best way to

create aff ordability, Rennie is among the growing

number of people who support a tiered tax on luxury

properties. “What if we put a three or four per cent

tax on properties over $3 million, and then repatriated

that money as tax relief for fi rst time buyers or

properties under a certain amount?” It is another

answer that won’t change the price of housing, but

also isn’t infl uenced by the colour of a buyer’s skin.

GO TOREW.CA /NEWS

TO READ THESE STORIESAND MUCH MORE REAL ESTATE

NEWS AND ADVICE

Are You Ready for theNew Minimum Down

Payment Rules?

BC and VancouverHome Sales Set to Drop in

2016 after Hot 2015

Ask the Expert:Do I Pay GST on a Never-Occupied Resale Condo?

How the Chinese Year of the Monkey Will Affect Vancouver Real Estate

•2 REW.ca » VANCOUVER EASTSIDE » THURSDAY FEBRUARY 4, 2016

• 308 SALES AWARDS SINCE 1984 • REBGV LIFE MEMBER WESTCOAST

604-275-9787patsy@patsyhui.com

www. .com

181 Sales in 2015!

OUTSTANDING AGENT ... OUTSTANDING RESULTS

5000 SQ ̓SOLID BUILT HOME

1103 CONFEDERATION DRIVE$1,198,000

Solidly built 3-level residence in Port Coquitlamʼs CITADEL HEIGHTS area. RS1 ZONED. This home has a 1600 sq ̓upstairs with 2 LARGE BEDROOMS + den, kitchen & 2 full baths + VIEW FROM LIVING ROOM. Main fl oor has 2 powder rooms, laundry, living, dining, family room, kitchen & den. Basement has 1-1/2 baths, GAMES & REC ROOM + PLAYROOMS. Main fl oor & basement are used as a SUCCESSFUL MONTESSORI SCHOOL since 1997. Double garage. BEAUTIFUL 5635 SQ ̓CORNER LOT. By appointment only.

604-290-2650 cell view interior photos at www.randylarsen.com

32 years of experience!

2226 East 1st AvenueJust Listed Nicely updated 1957 Bungalow with lots of character! 3 bedrooms upstairs and 2 bedroom suite in basement currently rented for a combined $3,500/ month. Original hardwood fl oors have been restored. All new double windows and Energy upgrade in 2010 including new furnace and insulation. Beautiful wooden deck and detached garage in fenced backyard. Almost 5,000 sq. ft. lot which is larger than most in the area. Great for family or for investment. Area has potential for zoning change to allow for higher density. $1,398,000. Open. Please call Randy Larsen (604-290-2650) or Laura Naputi (604-446-5324) for details

Rancher w/Bsm’nt Invest or Live in - Asking $1,398,000 Open House Saturday Feb 6 1:00-4:00 pm.

604.263.2823bobbracken.com

bob@bobbracken.comBob Bracken Real Estate ServicesEach office independently owned and operated.

R e a l E s t a t e I n v e s t m e n t T h i n k B o b B r a c k e n

HOUSES DUPLEX TRIPLEX 4PLEX 5PLEX 6+ UNITS APARTMENT BUILDINGS DEV SITES

410-650 W 41ST Avenue, Vancouver, BC V5Z 2M9

MOUNT PLEASANT 5 UNIT MULTIFAMILY BUILDING

477 EAST 10TH AVENUE477 EAST 10TH AVENUE

Mt Pleasant 5 Suite Building!• Big 3452 SF Income Property• 5 Suites, Character, 3 Levels• Income $71,580/yr, Coin Laundry• 1 X 3 Bdrm, 2 X 1 Bdrm, 2 Bachelor• Larger 47’ X 124’ RT-5 Lot• Extensively Renovated in 2000• Fully Sprinklered, 5 Electrical Meters• New Furnace, H/W Tanks, Windows• Close to Shops, Transit, Skytrain• 1 Open Parking & 3 Single Garages• Investors, Owner-Occupiers• Asking $1,878,000

BIG BURNABY HOUSE WITH 3 SUITES

4518 BRENTLAWN DRIVE4518 BRENTLAWN DRIVE

Burnaby House with 3 Suites!• Big 5 Bdrm, 2 Bath Family Home• Plus 2 Big Suites Down• Larger 51’ X 122’ R10 Lot• Suite mix: 1 X 5 Bdrm, 1 X 2 Bdrm,• Plus 1 X 2 Bdrm & Den Units• Newer Windows, Roof, Furnace,• Hot Water Tanks, Drain Tile• Lots of Open Parking at back• Excellent Holding Property• Close to Brentwood Mall, Transit• Investors, Owner-Occupiers• Asking $1,388,000

COMMERCIAL DRIVE 8 UNIT APARTMENT BUILDING

2313 VICTORIA DRIVE2313 VICTORIA DRIVE

Commercial Dr 8 Unit Building!• Legal 6613 SF Apartment Building• Built 1908 by Architect A. J. Wilkinson• 8 Suites, 4 Levels, Original Character• Bannisters, High Ceilings, Bay Windows• Income $147,768/yr, Cap Rat 4.1%• 1 X 3 Bdrm, 3 X 2 Bdrm, 4 X 1 Bdrm Units• Larger 45’ X 110’ RT-5 Lot, fenced yard• 9 Electric Meters and 9 Gas Meters• Near Commercial Drive Shops, Transit• Signature Property with Cash Flow• Investors, Owner-Occupiers• Asking $2,980,000

MOUNT PLEASANT UPDATED LEGAL DUPLEX

780-782 EAST 15TH AVENUE780-782 EAST 15TH AVENUE

Mount Pleasant Legal Duplex!• Like New, Character, Legal Duplex• 2 X 2 Bdrm Suites, Bright, Modern• Plus Additional 3 Bdrm Accom• 3 Lvls, 2596 SF, 7 Bdrms, 3 Baths• Totally Renovated with Permits• Income $3,800/mo, $45,600/yr• Potential $5,500/mo, $66,000/yr• Landscaped Yard, 3/4 Parking• Mount Pleasant Neighbourhood• Close to Shopping, Transportation• Investors, Owner-Occupiers• Asking $1,598,000

SOLDOVER ASK!

SOLDOVER ASK!

5UNITS!

3UNITS!

DUPLEXPLUS!

CAPRATE4.1%

NEWLISTING!

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www.normflockhart.com

NORM FLOCKHART(604) 261-7275

13 Year Member of MLS Medallion Club

PREC

'THE KING OF KENSINGTON' 'THE KING OF KENSINGTON' SOLD IN 2015SOLD IN 2015

4990 Sherbrooke Street1003 East 39th Avenue1395 East 34th Avenue5050 Somerville Street

PLUS 20 OTHER HOMES

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RESALE HOME LISTINGS | NEW HOMES FOR SALE | AGENT PROFILES | REAL ESTATE MARKET NEWS | HOME BUYING & SELLING ADVICE

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REW.ca » VANCOUVER EASTSIDE » THURSDAY FEBRUARY 4, 2016 3•

www.vancouverres idence.com

LORNE GOLDMAN604.263.1911

lorne@vancouverres idence.com

Personal Real Estate Corporationrporation

Over 35 years of proven results and consistently in the top 1% of the real estate industry.

•4 REW.ca » VANCOUVER EASTSIDE » THURSDAY FEBRUARY 4, 2016

SIMMY SANDHU604-897-5880

DEXTER ASSOCIATES REALTY

FABULOUS INVESTMENT ORDEVELOPMENT OPPORTUNITY!

DONʼT MISS THIS! House on a large 40ʼ x 140ʼ lot with back lane access, on a quiet street. School is walking distance a few blocks away and in a great family ori-ented neighbourhood. House is currently rented. Great invest-ment property or development opportunity! 2268 E.40TH AVE.

www.dexterrealty.com

604-689-8226 Yaletown

604-336-3539 Main Street

604-263-1144 KerrisdaleTaking our

Listings Global

NOT ON MLS! $1,599,000

THE TRUE MEANING OFLUXURY

Brand new 3 bed penthouse in the heart Vancouver with exquisite views of downtown & mountains. Private rooftop patio. Extremely rare opportunity, not even listed on MLS - avoid bidding wars by acting fast!1806 - 1695 MAIN STREETLISA FINDLAY 778-378-8090

868 KINGSWAY $355,000

Location, location, location! Wake up to fabulous North Shore mountain views in this newly renovated 2 bed/2 bath condo just minutes away from downtown. DONʼT MISS THIS GEM OF A HOME!

309-868 KINGSWAYLISA FINDLAY 778-378-8090

2995 TURNER ST. $2,588,000

66’ X 132’ CORNER LOT (HASTINGS SUNRISE)

RSI prime corner level unit in Hastings Sunrise. Need I say more? Excellent location, close to schools, transit, shopping. 3 bdrm home in good condition with new roof & furnace. Please call for details. MARILOU APPLEBY604-318-9566

West Coast Condominium– your essential guide to condo life in the Lower Mainland.

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1-3 bedrooms + coach house1-3 bedrooms + coach house

FINELY CRAFTED ANDINDIVIDUALLY CURATED HOMES

With 4 homes and acoach house, THE COLUMBIA

will be an enviable place to live.Included are two 1 bedroom

garden suites, two 3 bedroomhomes above and one 2 bedroom

and den coach house.

The kitchens will feature:Caesarstone quartz countertops ❙ shaker style custom cabinetry

engineered hardwood fl oors ❙ stainless steel appliances

Other details include: engineered hardwood fl oors ❙ extensive use of natural stone

contemporary plumbing and lighting fi xtures

– Completion date Spring 2016 –

Quality built byCall for more details

Ruthie Shugarman 604.879.2941 • Paige Kraft 604.603.3475This is currently not an offering for sale. Any such offering can only be made with a disclousre statement. E.&O.E.DEXTER

ASSSOCIATES REALTY

Located at the corner of 16th Ave/Columbia St in the heart of Mt. Pleasant

PRE-REGISTER at liveatcolumbia.com

REW.ca » VANCOUVER EASTSIDE » THURSDAY FEBRUARY 4, 2016 5•

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$1,389,900

A very special and unique 1910 character home in the heart of Hastings Sunrise with superb panoramic views of the North Shore Mountains. Of-fering over 3,200 sq.ft., this 4 level, 7 bedroom and bathroom home is divided into two suites: basement and main fl oor (4 bedrooms) with large bay windows, fi r fl oors, detailed trim, mouldings and high ceilings – cur-rently rented at $2,200. The 3rd & 4th fl oors are owner occupied with 2 bedrooms on the 3rd fl oor together with a distinctive and large spiral stair-case leading to its one-of-a-kind Master Bedroom. This is where you’ll take in the amazing view of the North Shore mountains while sipping your cof-fee in the generous sitting area of your bedroom. This home could easily be converted into a grand 3 level home, with a basement suite. South fac-ing backyard with gardening beds await your crops and there’s a new deck on the main fl oor. Walking distance to the numerous cafes, restaurants, grocery stores, library, community centre and Hastings Elementary w/ French immersion. A unique character home in a fantastic neighbourhood.

1914 HASTINGS SUNRISE FAMILY HOME$1,198,800 Beautifully renovated 1914 char-

acter home with fantastic VIEWS towards the Mountains. Enter-tainerʼs kitchen with granite coun-tertops, S/S appliances with gas stove. Lots of original character including w/b fi replace, Fir mould-ings, coved ceilings & 2 claw foot tubs. 3 bdrms on main & 2 bdrms & den down for the garden level suite. Fenced backyard w/ full veggie garden. Fantastic Hastings Sunrise location, 1 blk from restau-rants & shopping. Laneway house potential. 2727 FRANKLIN ST.

ABSOLUTELY CHARMING CHARACTER HOME$1,198,000 Charming character home in the

heart of Hastings Sunrise. Perfect family home w/ 5 bdrms, huge mas-ter bdrm & a very bright 2 bdrm suite Original fi r fl oors, wood burning f/p & tons of windows, offering a lovely country cottage feel. The master bdrm is truly a retreat with 10 ft. vaulted ceilings, 4 pce en-suite & a stunning VIEW to the Mountains. Detached Artistʼs studio in the back yard. currently used as a workshop & rented for $700/month. Steps to shopping & schools. 2559 WILLIAM ST.

HASTINGS SUNRISE – UNIQUE CHARACTER HOME WITH NORTH SHORE VIEWS

“Your East Vancouver Real Estate Experts!”

L i s a M a c I n t o s h Te a m - D e x t e r A s s o c i a t e s R e a l t yMedallion Club - Top 10% of Realtors in Greater Vancouver

Photos & Visual Tours at: www.lisamacintosh.comEmail: lisa@lisamacintosh.com Tel: 604-263-1144

Lisa MacIntosh Diane Kunic-Grandjean

$1,389,9002520 TRIUMPH ST. NEW LISTING $874,900Ocean, mountains & city views from this 2 bed, 2.5 bath NE corner townhouse on two levels located a block away from Kits beach (North of 4th). Sweeping views from every angle of the open concept top fl oor with its well-appointed kitchen and adjacent spacious dining room, comfortable living room with ca-thedral ceiling & skylight. Cozy up in from of your wood-burning fi replace while enjoying your views through large windows & French doors opening onto one of your two large covered balconies. Downstairs offers the master bedroom w/ ensuite & views, a guest bedroom w/ custom built Murphy bed & desk. Both bedrooms access your 2nd covered bal-cony. 1 pkg & 1 big storage, minutes away from all that Kitsilano has to offer! This is com-fort living at its best. 13-1620 BALSAM ST.

OCEAN, MOUNTAINS & CITY VIEWS, 2 BED,2.5 BATH TOWNHOUSE, 1 BLOCK FROM KITS BEACH

BEST HIDDEN GEM IN MOUNT PLEASANT –2 BDRM, 1.5 BATH, 2 BALCONIES & 2 PARKING!

Best hidden gem in the heart of SOMA! Positioned on the North East & West corner with city & mountain views, this 2 bedroom unit is fi lled with natural light coming through windows on all 3 sides! An entertainer’s delight with its well-appointed modern kitchen opening onto a large dining area & a very roomy living room with gas fi replace & balcony perfect for BBQing (bring your house-sized furniture). Spacious master bedroom with its own 2 piece en-suite, and a 2nd guest bedroom with access to a large balcony. Both bedrooms are set away for utmost privacy. Bonus: 2 parking! In-suite laundry, lots of in-suite storage, separate storage locker and pet-friendly, all in a very well-cared for building with depreciation report, roof (2010) & exterior paint (2012). 206-2621 QUEBEC ST.

$599,000NEW LISTING

•6 REW.ca » VANCOUVER EASTSIDE » THURSDAY FEBRUARY 4, 2016

PHASE 4 NOW SELLINGCLOSE TO EVERYTHINGYOU NEED!

Dennis Erickson, Marketing AgentFor more information: 604.819.8676 www.evergreensatensley.comdennis@evergreensatensley.com

45+ GATED COMMUNITY

STARTING FROM $298,000

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REW.ca » VANCOUVER EASTSIDE » THURSDAY FEBRUARY 4, 2016 7•

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VANCOUVER EASTSIDE

R E A L E S T A T E W E E K L Y

Looking for a newhome? Start here.

I n P r i n t > O n l i n e > Y o u r c o m p r e h e n s i v e s o u r c e f o r l o c a l r e a l e s t a t e n e w s a n d l i s t i n g s

T H U R S D A Y , F E B R U A R Y 4 , 2 0 1 6

The ARC will mark the Central False Creek Skyline become the next big urban neighbour-

hood to live, work and play. In the epicenter of this new to become one of the most iconic condomin-ium projects ever seen – Concord Pacifi c’s The ARC.

“This is the most central gate-way to Downtown Vancouver. The ARC’s strikingly unique architec-tural façade will be the landmark of the neighbourhood at the north-ern foot of the Cambie Bridge,” says Grant Murray, Vice-President, Sales of Concord Pacifi c. “Concord Pacifi c has a reputation for placing special emphasis on creating an environment where residents have a sense of community.”

Designed by Francl Architecture, The ARC feature two unique tower forms, 29 storeys high-bridged by a massive span beginning at the 19 fl oor.

Concord Pacifi c’s bold design on the exterior is matched by intel-ligently planned extended view suites. The ARC homes, r anging from 496 to 1,350 square feet, will embrace classic beauty and elegance with modern amenities. The ARC will feature 560 one-, two- and three-bedroom homes with quality fi nishes that rival pricier residences – extra thick windows to block out downtown noise, a Miele stainless steel appli-ance package, marble fl ooring in the bathrooms and a fl ex wall for

expansive entertainment space. Homes will also feature unique

elements, such as an Al Fresco deck doors, blurring the line between indoors and outdoors, (in the majority of suites), a fl ex wall that transforms the bedroom and opens up more space for a living room, a queen size bed that converts into a couch complete with built-in cabi-netry, and an outdoor patio deck that will take in spectacular city, mountain and ocean views.

Then there are the private coun-try club resort-style amenities ele-vated to the 20th fl oor with glass bottom indoor swimming pool and a Sky lounge complete with cater-ing kitchen, outdoor patio deck and a state-of-the-art fi tness facility.

The pool is an engineering to wow residents and visitors to the City alike he says.

Besides the pool and Sky lounge, The ARC will be the fi rst tower in North America to feature 100 percent electric charge park-ing stalls with Touchless Auto Carwash facilities.

On the second level we will have a Cappuccino Lounge and rooftop garden with a child’s play area,” he says. “In addition, the lobbies are inspired by hotels, with full time concierge. The list of incredible amenities just goes on and on,” adds Murray.

With prices starting in the low $400,000 range, these functional condos are attracting everyone

from the urban yuppies to young professional families right up to seniors. The ARC is in the middle of a community near Yaletown Marinaside with expansive views of the downtown skyline, North Shore Mountains and the ocean.

The Concord’s Arc is set to help defi ne the next era of Vancouverism.

“We are accepting registrations online now and the public preview begins in early February,” adds Murray. “This is a wonderful oppor-tunity for prospective buyers to see how gorgeous these suites are.”

THE ARC Sales Centre

88 Pacifi c Boulevard, Vancouver

Open daily from 10 am - 5 pm

604-899-8800.

Call to book an appointment.

THE ARCwill forever change

Central False Creek’s skylineBuyers are flocking to Concord Pacific’s iconic new downtown condo development