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Evergreen Line Will Proceed

Metro Vancouver mayors have voted in favour of a transit plan that includes expanded services and the Evergreen Line.

“A positive vote means the Evergreen Line will proceed.” – Minister Lekstrom

The provincial government is committing $583 million to funding the Evergreen Line. Translink will provide $400 million and the federal government will contribute $417 million.  The Evergreen Line will relieve congestion, improve air quality and link Port Moody and Coquitlam to the SkyTrain system.  Over 8,000 direct and indirect jobs will be created during construction.

Evergreen Line Rapid Transit Project

The Evergreen Line is a new rapid transit line that will connect Coquitlam to Vancouver via Port Moody and Burnaby. The Evergreen Line will be a fast, frequent and convenient SkyTrain service, connecting Coquitlam City Centre through Port Moody to Lougheed Town Centre in approximately 15 minutes. It will connect without transfer to the current SkyTrain network at Lougheed Town Centre Station and will integrate with regional bus and West Coast Express networks.

Source: BC Ministry of Transportation and Infrastructure

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$185000 / 1br - Investors Welcome!

1.1 current vacany rate in Port Moody, will rent for $1000 per month!

Investors Welcome! Reduced Listing call Jessica @ 778.241.8946. . . Pls visit www.jessicaprasad.ca for more photos or MLS V899084

"Junior 1 bdrm" This open unit only 4yrs old., set over a classic brick street-front of shops, has beautifully featured upgrades, laminate floors, granite counters, tile, work & stainless steel appliances w/upgraded stove. New paint & very well kept. Perfect for single person or student, rentals allowed. An athletic club, games room & fireside lounge are for your use! Central location in Port Moody, close to Newport Village, Rocky Point, close to SFU & Douglas College & 20 mins from Downtown Vancouver. Nearby shopping, restaurants, recreation center & transit & 10 mins walk to Westcoast Express.

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Metro Vancouver industrial space in demand

Limited land supply sees transactions reach highest point in three years: Avison Young

 
By BRIAN MORTON, Vancouver Sun

Demand for industrial real estate is surging in Metro Vancouver with nearly $37 million in transactions in the first half of the year, according to a report released Monday.

Avison Young’s Summer/Fall 2011 Vancouver Industrial Report concluded that the number of transactions reached its highest point in more than three years as the economy improved and buyers leveraged lower debt to purchase business space for their own use.

“The dynamics now are positive,” Avison Young senior vice-president John Lecky said.

“With the lower cost of capital, a lot of owners are saying that rather than rent, they’d like to secure ownership of their business premises. The cost of debt over the last 15 years has declined, so the ability to purchase is that much easier. The profile of the purchaser is mostly owner-user versus the pure investor.”

Lecky said the trend accentuates the positives for users owning their own working space.

“You can touch it, feel it, and actually use it.”

He noted that there is a lack of large-dollar space available, with most of the activity in the smaller investment transactions. More than three-quarters of the industrial deals completed during the first eight months of 2011 were for less than $2 million.

Citing RealNet Canada, the report by the commercial real estate company concluded that Vancouver’s industrial market recorded 27 transactions valued at $36.8 million during the first half of 2011.

“This total marked the highest first-half dollar volume since 2007 and the greatest number of first-half transactions since 2008,” the report said. “Of those 27 transactions, 11, or just more than 40 per cent, were strata purchases of small-bay units ranging from 1,300 square feet to 4,000 square feet.”

As well, there were 30 transactions worth $41.6 million in Vancouver’s industrial market by the end of August.

The report said the sales were led by the $8.4-million acquisition of a 39,000-square-foot office and warehouse space property at 285 East First in March followed by a $3-million purchase of a 25,000-square-foot warehouse at 496 Alexander St. in April.

Industrial vacancy rose to 3.9 per cent in the spring of 2011 from 3.5 per cent in the fall of 2010, but is expected to tighten by year end because of reduced availability caused by a lack of new development and a constrained land supply.

The report added that some companies may relocate to lower-cost markets in suburban municipalities.

“Vancouver’s industrial lands continue to face ongoing rezoning pressures within city limits despite city hall’s stated intention to preserve such lands.

On the leasing side, the report noted that deals have remained steady, with Acme Analytical Laboratories, a mineral preparation and testing company, leasing one of the largest spaces available in the market, an 82,265-square-foot facility in south Vancouver

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Fresh Look Vancouver Show brings together an exciting group of suppliers & specialists for all your home renovation needs. Our goal is to help home owners and buyers learn about the art of renovations, find credible product and services.

The show is free to attend and all registered attendees are automatically entered into a drawing for $1000′s in door prizes. All proceeds will go to our local chapter of Habitat for Humanity. Your ticket gives you access to all exhibits, information material, vendor discounts, and more. So come out and discover something new to add value to your home.
Website:


FRESH LOOK Home Reno Show, for Habitat to Humanity

Social Media:
  • http://www.facebook.com/#!/event.php?eid=272136326139020

    • ~Vancouver Charities and Social Media

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    The Top BC Investment Towns report list:

    1) Surrey
    2) Maple Ridge & Pitt Meadows
    3) Abbotsford
    4) Kamloops
    5) Kelowna
    6a) Dawson Creek
    6b) Fort St. John
    7) Comox Valley
    8) Penticton
    9) Vancouver
    10) Prince George
    11) Vernon

    Cities and Towns in Greater vancouver and Fraser Valley...

    Surrey

    When reviewing Surrey's economic fundamentals, we see an area going through a positive transition. Others have taken notice as well, as we are witnessing an increase in population and business growth. As the fastest growing city in Canada, Surrey is predicted to take Vancouver’s place as the largest city in British Columbia in coming years. With major transportation projects underway in the region, more people will be attracted to Surrey as a place to live and do business. In the next decade, the city will continue to see explosive population growth, one of the most important factors to consider when deciding where to invest. This population growth - combined with the major transportation improvements the region will be enjoying over the coming years, and the relatively affordable housing (when compared to other cities in the Lower Mainland region) - will continue to position Surrey as one of the top regions in the province for economic and real estate growth.

    Maple Ridge & Pitt Meadows

    This region has been hampered by poor transportation infrastructure for decades. Thus, property values have been historically lower than other areas located the same distance from the CBD. Of all the regions in the Lower Mainland, Maple Ridge and Pitt Meadows are poised to enjoy the most positive impact from the TransLink and Gateway Transportation improvements. This new accessibility will bring a strong and consistent growth to the region, not just in residents but also in companies relocating to a lower cost region. The construction of the bridges, along with the twinning of Highway 7, will add increased accessibility to the region, and shorten the commute times of residents working outside the city.

    Abbotsford

    With a population of over 134,000 people, Abbotsford has earned the title of the 5th largest city in British Columbia. From transportation changes to increased localized job growth, to an increasing population, Abbotsford will continue to attract people from across the province. A new high tech park has recently been opened, and along with a major expansion of the commercial and industrial lands on the Mt. Lehman Corridor, this will help the economic diversification to continue into the near future. The recent release of 178.5 hectares from the Agricultural Land Reserve will add to the city’s available residential, commercial, and industrial development space, ensuring the city will witness even more growth in the next decade.

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    Top 25 Grants and Rebates for Property Buyers and Owners

    1. Home Buyers’ Plan

    Qualifying home buyers can withdraw up to $25,000 (couples can withdraw up to $50,000) from their RRSPs for a down payment. Home buyers who have repaid their RRSP may be eligible to use the program a second time. Canada Revenue Agency www.cra.gc.ca. Enter ‘Home Buyers’ Plan’ in the search box | 1.800.959.8287

    2. GST Rebate on New Homes

    New home buyers can apply for a rebate of the federal portion of the HST (the 5% GST) if the purchase price is less than $350,000. The rebate is up to 36% of the GST to a maximum rebate of $6,300. There is a proportional GST rebate for new homes costing between $350,000 and $450,000. Canada Revenue Agency www.cra.gc.ca. Enter ‘RC4028’ in the search box | 1.800.959.8287

    3. BC New Housing Rebate (HST)

    Buyers of new or substantially renovated homes priced up to $525,000 are eligible for a rebate of 71.43% of the provincial portion (7%) of the 12% HST paid to a maximum rebate of $26,250. Homes priced at $525,000+ are eligible for a flat rebate of $26,250. www.hstinbc.ca/making_your_choice/faqs/new_housing_rebate | 1.800.959.8287

    4. BC New Rental Housing Rebate (HST)

    Landlords buying new or substantially renovated homes are eligible for a rebate of 71.43% of the provincial portion of the HST, up to $26,250 per unit. http://www.hstinbc.ca/making_your_choice/faqs/new_housing_rebate | 1.800.959.8287

    5. BC Property Transfer Tax (PTT) First Time Home Buyers’ Program

    Qualifying first-time buyers may be exempt from paying the PTT of 1% on the first $200,000 and 2% on the remainder of the purchase price of a home priced up to $425,000. There is a proportional exemption for homes priced up to $450,000. BC Ministry of Small Business and Revenue www.rev.gov.bc.ca/rpt | 250.387.0604

    6. First-Time Home Buyers’ Tax Credit (HBTC)

    This federal non-refundable income tax credit is for qualifying buyers of detached, attached, apartment condominiums, mobile homes or shares in a cooperative housing corporation. The calculation: multiply the lowest personal income tax rate for the year (15% in 2010) x $5,000. For the 2010 tax year, the maximum credit is $750. Canada Revenue Agency www.cra.gc.ca/hbtc | 1.800.959.8281

    7. BC Home Owner Grant

    Reduces school property taxes by up to $570 on properties with an assessed value up to $1,150,000. For 2011, the basic grant is reduced by $5 for each $1,000 of value over $1,150,000, and eliminated on homes assessed at $1,264,000. An additional grant reduces property tax by a further $275 for a total of $845 for seniors, veterans and the disabled. This is reduced by $5 for each $1,000 of assessed value over $1,150,000 and eliminated on homes assessed at $1,319,000+. BC Ministry of Small Business and Revenue www.rev.gov.bc.ca/hog or contact your municipal tax office.

    8. BC Property Tax Deferment Programs

    Property Tax Deferment Program for Seniors. Qualifying home owners aged 55+ may be eligible to defer property taxes.

    Financial Hardship Property Tax Deferment Program. Qualifying low-income home owners may be eligible to defer property taxes.

    Property Tax Deferment Program for Families with Children. Qualifying low income home owners who financially support children under age 18 may be eligible to defer property taxes.

    BC Ministry of Small Business and Revenue www.sbr.gov.bc.ca and enter ‘Property tax deferment’ in the search box or contact your municipal tax office.

    9. Canada Mortgage and Housing (CMHC) Residential Rehabilitation Assistance Program (RRAP) Grants

    This federal program provides financial aid to qualifying low-income home owners to repair substandard housing. Eligible repairs include heating, structural, electrical, plumbing and fire safety. Grants are available for seniors, persons with disabilities, owners of rental properties and owners creating secondary and garden suites. www.cmhc-schl.gc.ca/en/co/prfinas/prfinas_001.cfm | 1.800.668.2642 | 604.873.7408

    10. CMHC Mortgage Loan Insurance Premium Refund

    Provides home buyers with CMHC mortgage insurance, a 10% premium refund and possible extended amortization without surcharge when buyers purchase an energy efficient mortgage or make energy saving renovations. www.cmhc.ca/en/co/moloin/moloin_008.cfm#reno | 604.731.5733

    11. Energy Saving Mortgages

    Financial institutions offer a range of mortgages to home buyers and owners who make their homes more energy efficient. For example, home owners who have a home energy audit within 90 days of receiving an RBC Energy Saver™ Mortgage, may qualify for a rebate of $300 to their RBC account. www.rbcroyalbank.com/products/mortgages/energy-saver-mortgage.html | 1.800.769.2511

    12. Low Interest Renovation Loans

    Financial institutions offer ‘green’ loans for home owners making energy efficient upgrades. Vancity’s Bright Ideas personal loan offers home owners up to $20,000 at prime + 1% for up to 10 years for ‘green’ renovations. RBC’s Energy Saver loan offers 1% off the interest rate for a fixed rate installment loan over $5,000 or a $100 renovation on a home energy audit on a fixed rate installment loan over $5,000. For information visit your financial institution. www.vancity.com/Loans/BrightIdeas and www.rbcroyalbank.com and in the search box enter ‘energy saver loan’.

    13. LiveSmart BC: Efficiency Incentive Program

    Home owners improving the energy efficiency of their homes may qualify for cash incentives through this provincial program provided in partnership with Terasen Gas, BC Hydro, and FortisBC. Rebates are for energy efficient products which replace gas and oil furnaces, pumps, water heaters, wood stoves, insulation, windows, doors, skylights and more. The LiveSmart BC program also covers $150 of the cost of a home energy assessment, directly to the service provider. www.livesmartbc.ca/rebates | 1.866.430.8765

    14. BC Residential Energy Credit

    Home owners and residential landlords buying heating fuel receive a BC government point-of-sale rebate on utility bills equal to the provincial component of the HST. www.sbr.gov.bc.ca/documents_library/notices/HST_Notice_010.pdf or go to Google and in the search box type in ‘Residential Energy Credit rebate program.’ It is the first item. | 1.877.388.4440

    15. BC Hydro Appliance Rebates

    Mail-in rebates of $25 - $50 for purchasers of ENERGY STAR clothes washers, refrigerators, dishwashers, or freezers until March 31, 2011, or when funding for the program is exhausted. www.bchydro.com/rebates_savings/appliance_rebates.html | 1.800.224.9376

    16. BC Hydro Fridge Buy-Back Program

    This ongoing program rebates BC Hydro customers $30 to turn in spare fridges in working condition. www.bchydro.com/rebates_savings/fridge_buy_back.html | 604.881.4357

    17. BC Hydro Windows Rebate Program

    Pay no HST when you buy ENERGY STAR high-performance windows and doors. This offer is available until March 31, 2011. www.bchydro.com/rebates_savings/windows_offers/current_offers.html | 604.759.2759 for a free in-home estimate.

    18. BC Hydro Mail-in Rebates/Savings Coupons

    To save energy, BC Hydro offers rebates including 10 % off an ENERGY STAR cordless phone. Check for new offers and for deadlines. www.bchydro.com/rebates_savings/coupons.html | 1.800.224.9376

    19. Fortis BC (formerly Terasen Gas) Rebate Program

    A range of rebates for home owners include a $50 rebate for upgrading a water heater, $150 rebate on an Ener-Choice fireplace (both good until March 31, 2011) and a $1,000 rebate for switching to natural gas (from oil or propane) and installing an ENERGY STAR heating system (good until February 29, 2012). http://www.fortisbc.com/NaturalGas/Homes/Offers/Pages/Residential-Water-Heater-Program.aspx | 1.888.224.2710

    20. Fortis BC (formerly Terasen Gas) Efficient Boiler Program

    For commercial buildings, provides a cash rebate of up to 75% of the purchase price of an energy efficient boiler, for new construction or retrofits. http://www.fortisbc.com/NaturalGas/Business/Offers/Pages/default.aspx | 1.888.477.0777

    21. City of Vancouver Solar Homes Pilot

    This rebate of $3,000 (about 50% of the cost) is for a Vancouver home owner upgrading to a solar hot water system from a gas system. Offered by the City of Vancouver, SolarBC, Terasen Gas and Offsetters on a first come, first served basis until March 2011 or until the City reaches its target of 30 solar homes. www.vancouver.ca/sustainability/SolarHomes.htm | 604.873.7748

    22. City of Vancouver Rain Barrel Subsidy Program

    The City of Vancouver provides a subsidy of 50% of the cost of a rain barrel for Vancouver residents. With the subsidy, the rain barrel costs $75. Buy your rain barrel at the Transfer Station at 377 W. North Kent Ave., Vancouver, BC. Limit of two per resident. Bring proof of residency. www.vancouver.ca and in the search box enter ‘rain barrel program.’ 604.736.2250. Other municipalities have similar offers.

    23. Vancity Green Building Grant

    In partnership with the Real Estate Foundation of BC, Vancity provides grants up to $50,000 each to qualifying charities, not-for-profit organizations and co-operatives for projects which focus on building renovations/retrofits, regulatory changes that advance green building development, and education to increase the use of practical green building strategies.

    www.vancity.com/MyCommunity/NotForProfit/Grants/ActingOnClimateChange GreenBuildingGrant | 604.877.7000

    24. Local Government Water Conservation Incentives

    Your municipality may provide grants and incentives to residents to help save water. For example, the City of Coquitlam offers residents a $100 rebate and the City of North Vancouver, District of North Vancouver, and District of West Vancouver offer a $50 rebate when residents install a low-flush toilet. Visit your municipality’s website and enter ‘toilet rebate’ to see if there is a program.

    25. Local Government Water Meter Programs

    Your municipality may provide a program for voluntary water metering, so that you pay only for the amount of water that you use. Delta, Richmond and Surrey have programs and other municipalities may soon follow. Visit your municipality’s website and enter ‘water meter’ to find out if there is a program.

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    New Home Tax Calculator

    This calculator is for new construction only. For most homes bought in B.C., there is no HST because the tax does not apply to previously occupied homes.

    The New Home Tax Calculator Applies at the current HST rate of 12 per cent. The government has committed to drop the rate to 11 per cent in 2012 and again to 10 per cent 2014. The calculator will then be adjusted to reflect those changes.

    http://www.hstinbc.ca/buying_goods/buying_a_home/

    ~source, HSTinBC.ca

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    Stable Canadian economy and good quality of life is luring 'planeloads' of overseas buyers eager to invest

    When real estate entrepreneur Cam Good hosted a group of predominantly mainland Chinese investors this Wednesday at a White Rock condo showing, he was tapping into a market that's surging across much of Metro Vancouver.

    Good, president of The Key, a Vancouver-based sales and marketing firm that's focusing on a new wave of Chinese buyers, figures he's sold more than 500 homes to mainland Chinese investors and immigrants in January and February in Vancouver and Toronto.

    He's also opened an office in Beijing's business district -The Key China -where Chinese buyers can purchase Canadian condos from a presentation centre and view videos that showcase various condo developments and the virtues of Canada.

    "[Chinese investors] have really picked up a lot of steam in the last two or three months," Good said in an interview. "And I believe this is just the tip of the iceberg. There's an über-wealthy upper class forming and there's a strong middle class growing in China. This massive middle class is now getting to a point where they can afford international real estate. And Canada is viewed by the Chinese as a very stable place to put their money.

    "There are literally planeloads of Chinese coming here to buy real estate."

    Wednesday's attraction was Avra, a 17-storey condominium tower that's slated to be built over the next two years, and Good took along a busload of investors -some from China and some already living here -and their agents to view the plans.

    But it's not just condos that are attracting Chinese buyers, with single-family homes and large lots topping the list.

    Across the Lower Mainland, especially Richmond and Vancouver's west side, mainland Chinese buyers and immigrants are becoming a major part of the market, in some cases competing with each other through multiple offers.

    But the phenomenon is starting to spread to other areas including Burnaby, West Vancouver, White Rock and beyond.

    "We predict that this will be a dominant trend for a long time," Scott Brown, senior vicepresident, Western Canada for Colliers International residential marketing, said in an interview. "Some of the most expensive [Vancouver] real estate is only being marketed to Chinese buyers. And Vancouver and Toronto are very popular."

    According to a report on new multi-family home sales in the Lower Mainland by Colliers, which recently opened a dedicated office in Shanghai to deal with the increasing demand, a total of 2,711 new multi-family units were sold in the region in the fourth quarter of 2010, making it the most active quarter of the past year.

    "As in each quarter in 2010, the health of the market is expected to continue to be positively impacted by increasing Asian immigrant and investment demand," the report, prepared by Colliers and Urban Analytics, concluded.

    Scott said the expected offshore demand will continue to be "the dominant story in 2011 that it was in every quarter of 2010 especially in Vancouver-west, Metrotown and Richmond."

    The demand for Vancouver properties appears to be fuelled by many factors -including, ironically, a crackdown on property purchases in mainland China that may be moving much of that investment overseas, particularly to Canada.

    Local real estate companies are tapping into the demand, which realtors say is also partly fuelled by an easing of travel restrictions by China with the granting of approved destination status to Canada.

    As well, local Vancouver area Chinese-language newspapers are being used by realtors and agents to specifically target mainland Chinese buyers, citing Canada and Vancouver's stability and strong local real estate returns.

    A recent report in the China Daily, a state-run publication based in Beijing, said Canada was "the most popular choice" for overseas investors while "growing restrictions on property purchases in major Chinese cities [are driving] the country's nouveau riche to look overseas for investment opportunities."

    The newspaper noted that most overseas property purchases are motivated by a combination of factors including immigration, education and investment, with Canada, Australia and the U.K. topping the list of destinations.

    The China Daily report also said buyers from the Chinese mainland represent between 40 and 50 per cent of the current market for pre-sale projects in Vancouver.

    But China's effort to cool an overheating market is just one reason investment is pouring into Canada.

    Brown believes there are many factors, especially Canada's image as a great country to live in and a safe place to invest money. "There's no one easy answer, but one of the main drivers is [they] believe that having their children educated in Canada [is good]. The other driver is that Vancouver is a beautiful, livable city and they want to buy their own piece of it."

    One recent buyer is former Beijing resident Yang Yang, who moved to B.C. with her husband and young daughter last summer, purchased a detached house in Surrey, and accompanied Good to the White Rock condo showing.

    "We prefer the peaceful life here," Yang said in an interview. "Beijing is very crowded and the air pollution is bad there."

    Yang said that she and her husband, an IT engineer, are considering a condo at Avra as a place to retire when they no longer need their larger home.

    Yang's realtor, Hong Lui, with Interlink Realty in Richmond, said she first noticed a surge in mainland Chinese interest last spring and it's grown increasingly stronger, with a mix of investors, including those who want to immigrate to Canada and others who are looking here after the Chinese government restricted their ability to own several homes.

    Richmond MacDonald Realty realtor David Lindsay said: "January and February has been almost exclusively mainland Chinese buyers of big lots, with a house of little value on it. And we're getting multiple offers."

    He said, for example, that a typical lot in the Seafair area, which sold for $800,000 in October, is now selling in the $1.2-million range. "I sold one last Sunday and we had four offers. The winning bid was $1.03 million. It was on the market for $968,000." Lindsay believes there's speculation is going on, because some buyers are getting an accepted contract with a clause that allows them to assign the contract to a third party before the sale is completed. "One buyer didn't even set foot on the property."

    Real Estate Board of Greater Vancouver president Jake Moldowan said he believes lifestyle is the core reason for the interest. "Vancouver is an extremely desirable place to be."

    He said that Richmond lots are now going for $1 million to $1.3 million. "And I know that there have been realtors from Hong Kong and mainland China, who fly over there, put packages together, and then bring people over."

    Meanwhile, Bosa Properties announced this week that its 34-storey Sovereign tower in Burnaby's Metrotown sold out immediately, surpassing the single day sales record in the Burnaby market by selling $98-million worth of real estate.

    - source, Global TV, BC

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    Welcome to ilovehomes.ca your one stop Real Estate and Home Owners’ directory style resource website for Vancouver. Here you will find everything that you need from real estate market information to home renovating ideas and contacts. Easy ways to get all the home information you need on website, text or get an Iphone App. Blog about your favorite new home builder, kitchen renovations contractor, looking for a house inspector? How about information on property in the Lower Mainland, real estate news or if want to know about schools and parks nearby??? We’re here to help you make better decisions in the communities you love and live in!

    Visit www.ilovehomes.ca 

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