I just finished uploading this House for sale, 1052 COTTONWOOD Ave, Coquitlam, British Columbia

Stunning custom built West Coast home with no expense spared. From the moment you walk in the front door you notice the attention to detail. Only the best materials were used to building this beautiful home. Main floor offers a grand dining & formal living room. Dream chefs kitchen with top of the line S/S appliances, think granite counters & huge island. Family room opens onto a large south facing backyard with sundeck for your summer enjoyment. Upstairs you will find a master bdrm to die for with a huge spa inspired bathrm with his & hers vanity & S. facing private patio. There are 3 other large bdrms up with plenty of space for your growing family. Fully finished bsmt with media rm, study & 873sf 2 bdrm ste. A dream home.

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I just finished uploading this Condo for sale, 416 12258 224TH Street, Maple Ridge, British Columbia

Welcome to Stonegate! A unique building by the Shangri La Garden Ltd. with upgraded features such as, granite counters, slate backsplash, s/s appliances, 9' ceilings, crown mouldings, laminate floors, large patio/balcony, security camera, beautiful lobby top flr penthouse corner unit, offers 2 bdrm, 2 full bath. & den, lrge very open kitchen/living area perfect for entertaining, i/s laundry & storage, pantry & bonus extra storage & 1 pkg stall. The deck is lrge & private w/great view of the mountains & incredible air space, must see to appreciate. Great location close to shops & restaurants, 5 min walk to downtown Maple Ridge,5 min from West Coast Express train station. All measurements are approx.Open house Sat, Nov 6th 2-4pm.

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A Free First Time Home Buyers Seminar!

Common Questions from First-time Home Buyers…
Why should I buy, instead of rent?
Should I use a real estate broker?
How much money will I have to come up with to buy a home?
In addition to mortgage payment & insurance what other costs do I need to consider?
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Get the answers to these questions & more by experts in the industry at the First-Time Home Buyers Seminar!

Speakers Include:

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Sutton West Coast Group

Richard Bell
Bell Alliance Lawyers and Notaries Public

Sharon Davis
Mortgage Centre

Robert Trasolini
Sun Life Financial

Time: Wednesday, March 9 · 6:00pm - 7:00pm

Location: Creekside Community Center MP1 Room (Olympic Village) 1 Athletes Way
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I just finished uploading this House for sale, 11115 237TH Street, Maple Ridge, British Columbia

Falcon Hill - New Construction w/HST included!! This beautiful home is located on Greenbelt & Proudly Designed & Built by Award Winning Falcon Homes & Designs. This home features over 3,150 sq ft of open living space which includes 3 BDRM, great room w/den, attached double garage & unfinished daylight BSMT awaiting your ideas. Custom upgrades include granite in kitchen & powder room, S/S appliances w/gas range, extensive crown molding, 18' stone fireplace, blinds & landscaped front & back. Located steps away from Kanaka Elementary & easy access to West Coast Express, Travelers Ins. 2-5-10 Ready for occupancy mid March 2011!!! BONUS OF $5,000 CASH BACK!!!

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I just finished uploading this Condo for sale, 202 3122 ST JOHNS Street, Port Moody, British Columbia

Popular Sonrisa 2 bed/2bath with 2 parking spots!! This unit offers tile entry, gas fireplace, maple kitchen cabinets. This unit faces the courtyard. Complex offers indoor swimming pool, fitness & sauna. Pets & rentals permitted. Excellent opportunity for investor, currently tenanted to good long term tenant.

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I just finished uploading this Condo for sale, 226 801 KLAHANIE Drive, Port Moody, British Columbia

Beautifully renovated, well laid out, 2 bed, 2 bath home in Klahanie awaits you! The ledgestone fireplace with handcrafted cedar mantle & built in wall-mounted 50" plasma TV (which stays), the dark wood floors, stone tiles, crown mouldings, new baseboards, rainshower head, cozy electric fireplace, stainless steel appliances, gas stove, & big private deck are just a few of this condos great features. Enjoy all the wonderful facilities the Canoe Club has to offer, as well as being just a short walk from Rocky Point, The West Coast Express, Sutter Brook, Newport Village & Port Moody's hiking trails. BONUS FEATURES: The unit is wired for 7.2 surround sound & is fully networked. Comes with 2 parking spots & a locker!

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Olympic village condo prices to be slashed by an average of one-third

Over 100 suites slated to rent while $1-million units shelved to sell later. Mayor says he hopes to break even

The plan calls for 230 condos to go on sale Feb. 17, while another 244 suites -some of them the more expensive waterfront units -will be withheld from the market, according to the receiver's documents.

Of these 244 suites, 127 will be offered for rent at market rates, which marketer Bob Rennie estimated to be roughly $2.30 per square foot per month.

Suites valued at more than $1 million will not be rented out, but rather sold at a later date.

"The timing of release for sale of the remaining units will be determined by the results of the receiver's marketing campaign and an ongoing assessment of market conditions," the document states.

Renting out a home can reduce its market value, but previously rented homes are generally not subject to the 12-per-cent harmonized sales tax that new home purchasers must pay.

Vancouver Coun. Suzanne Anton said slashing prices is one of the few options left for the troubled project.

"The mayor put this under a black cloud and I'm hoping this new plan will blow that black cloud away," Anton said.

"It was clear something had to happen because they were not moving at all."

She said there is "no question" the cuts will mean a major financial loss to Vancouver taxpayers.

"The only question is how big the city's loss will be," she said.

Mayor Gregor Robertson and his Vision Vancouver council placed the troubled project into receivership with Ernst & Young in November 2010, with the city taking over the project from the Maleks of Millennium Southeast False Creek Properties in an effort to recoup $742.6 million in taxpayer funds.

Anton called that move a key problem, saying the mayor should have been a "chief promoter" of the project.

Occupancy at the site was only 32 per cent at the time of receivership in November 2010. The new plan, if successful, would increase that to 70 per cent by this summer. The report says the receivers expect that as occupancy increases and commercial tenants move in, prices will rise.

The plan includes changing the name of the development to The Village on False Creek, while the commercial centre will be called The Shops at the Village. The development was previously called Millennium Water.

Robertson said the receiver's report lays out a systematic way of disposing of the units with the least financial risk to the city. But it's still anyone's guess whether taxpayers will earn back all of their investment.

"What I hope is we break even on the village over time but what I predict is that the timelines will be longer with rental and the market rebound being the driving factors in a break-even scenario," Robertson said.

"It is going to take years. There is no happy, surprise twist right now."

Robertson said the city rejected the idea of selling all the units to a developer who would buy them in bulk. He said it might have been politically expedient to do so, but at great expense to taxpayers.

"It's a lousy business decision for the city and it is an immediate hit for the taxpayers," he said. "It keeps the pressure on us to maintain and endure the ups and downs ahead. But you know, my business background says be patient and experts from the industry say that. A fire sale would not be good for taxpayers. So I think we have to take a long view here."

TD Canada Trust and Legacy Liquor Store are the only tenants at The Shops at the Village, but the documents state the receiver is in negotiations with London Drugs and Urban Fare, whose occupancy is pending.

The report also details plans to decrease strata costs: The receiver will pay off the lease on energy monitoring units in each suite, and pay off the mortgage at the recreation facility, which has been renamed the Gold Medal Club.

The documents filed in court indicate that the company's name was changed in December 2010 to SEFC Properties Ltd, formerly Millennium False Creek Southeast Properties. The 230 suites to be offered for sale represent a market value of about $200 million, the Ernst & Young documents state.

tsherlock@vancouversun.com jlee@vancouversun.com



Read more: http://www.vancouversun.com/business/Olympic+village+condo+prices+slashed+average+third/4263975/story.html?tab=PHOT#ixzz1DgYjOUn0
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