Just Sold: 3466 Gislason Ave., Coquitlam, Burke Mountain

Ultra-private Spanish Villa on 10,000sf Estate lot w/creek & greenbelt in the heart of Burke Mtn. Wrought iron gate & oversized arched entry leads into main floor featuring formal living rm w/brick accented gas f/p, floor to ceiling windows overlooking creek & greenbelt. Formal dining rm w/hardwood floors, waffle ceilings & French drs out to deck w/view of creek. Kitchen surrounded in windows also overlooks creek & private yard/oasis. Large Master on main w/w-i closet. Updated main bath w/claw foot tub & oversized tile shower w/heavy gauge glass door. Spiral stairs down to fully finished bsmt w/2 bdrm, 2nd Master w/new ensuite complete w/5' stone & slate accented shower plus games rm & sunroom w/access to yard. BONUS 20x18 detached ultimate man cave.

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Just Sold: 306 3128 Flint St., Port Coquitlam, Glenwood PQ

Welcome to Fraser Court Terrace! The moment you walk through the front doors you will know that you have found your new home. The spacious 1066 sqft unit offers 2 bedrooms, 2 full bathroom with an open concept living room with a gas fireplace and dining room. The kitchen is bright and tastefully updated with newer SS appliances, quartz counters and sink. Designer paint colors and beautiful laminate flooring. Plus a bonus ROOF TOP deck ! Close to transit, schools and shopping. You cannot beat this fabulous location!!

Listing offered by: Homelife Benchmark Realty


Metro Vancouver home prices could return to peak levels in a year: CMHC

Rebound in market sales activity likely to spark return to price growth, which could be “modest” or significant.

Home sales activity and average sale prices in Metro Vancouver are likely to increase over the next two years, according to a new forecast by Canada Mortgage and Housing Corp. (CMHC) Resale activity on the region’s MLS, which has seen significant year-over-year growth over the past few months, is predicted to continue that streak in 2020 and 2021. This increase in sales and demand for product will push up prices.

Although the housing agency described the expected price rises as “modest,” CMHC said the average price of a home (all property types) in Metro Vancouver in 2020 could potentially reach a record high of $983,000, and over $1 million in 2021. That compares with a forecast average of up to $928,000 in 2019, and average sale prices of $966,866 in 2018 and $934,977 in 2017. However, those predicted prices are at the top end of the forecast range — CMHC said it was also possible that average sale prices would continue to slide slightly over the next two years (see graph below), perhaps even to as low as $883,000 in 2021.

CMHC said that townhomes and condos priced under $700,000 were expected to see the strongest demand over the next two years. “Meanwhile, conditions in the single-detached market are expected to remain soft, particularly in the higher end segment of the market.” The report added, “While inventories of homes for sale are expected to decline slightly as sales increase, a growing number of newly constructed homes coming onto the resale market will help keep market conditions balanced overall through the end of the forecast horizon.”

Responding to the report, Jason Wong, sales and marketing director at Aragon Properties, told Glacier Media, “We are expecting to see upward pressure in pricing in the market, due to projected economic growth and annual population growth, along with the low interest rates. The fundamentals are definitely there to see price growth.”

Metro’s new-home market

On the presale condo market, CMHC predicted, “New condominium apartment developments are expected to see greater presale activity compared with the longer sales periods of recent quarters, which will encourage additional new development; however, pricing will increasingly be a point of differentiation as consumers have more options in a rising inventory environment.”

However, Wong said he believes there is plenty of “room for a lot of new product” before price growth would be affected. “The Lower Mainland needs a lot of new housing. There is a lot of pent-up demand and it would take a lot of product to satisfy that demand. And we have to recognize that these homes are also not built yet.”

Wong added that Aragon had seen strong presales at its recent condo projects in Vancouver, and was confident about launching a new project in New Westminster’s Port Royal in spring 2020.

B.C. and national picture

Across B.C., the resale market forecast was a similar story to that of Metro Vancouver, with sales and price growth expected in 2020 and 2021 after a weak 2018 and 2019.

The federal housing agency reported, “British Columbia will see modest recovery in price growth in 2020 from a decline in 2019, but rise to the second-highest rate of price growth, after Ontario, in 2021.”

This prediction echoes that of the B.C. Real Estate Association, which forecast recently that home sales would increase in every B.C. region over the next year.

The CMHC’s national forecast was also similar, albeit at lower average price levels. Bob Dugan, CMHC’s chief economist, said, “Housing starts [across Canada] are projected to stabilize in 2020 and 2021 at levels in line with long-run averages. This follows two years of declines from elevated levels in 2017. Resale activity and house prices are expected to fully recover from recent declines, supported by growth in income and population.”

The national average home sale price was $511,830 in 2017, and CMHC predicts it will be approximately $488,000 this year. CHMC said the average sale price could be between $539,800 and $569,600 in 2021.

The agency’s Canada-wide forecast report added, “The current outlook for renewed growth in home prices over the forecast horizon does not imply that overvaluation and/or price acceleration measures will necessarily worsen, since growth in fundamentals over the same time period can be sufficient to support stronger resale market activity and price growth.”

Provided by: Joannah Connolly / Glacier Media Real Estate


Just Listed: 1701 7368 Sandborne Ave., Burnaby South, South Slopes

Gorgeous, Endless Views

Spacious 1234sqft Home

Open: Oct. 26 from 2 to 4

Price at $668,800

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Stunning 270-degree endless Water, City Light & Mountain views from every room. Located on the 17th story of the popular concrete Mayfair Place complex in desirable City in a Park neighborhood of Burnaby's South Slopes. Your search ends here. A blank slate is calling your inner designer to add your personal touch. This 2bed/2bath/1234sqft home offers 9' ceilings throughout, a spacious layout, an abundance light, living/dining rooms & separate family/eating areas, 2 balconies & gas F/P. The huge master has pass-through closets & 5pc ensuite. Bonus: 2 parking stalls & locker. Enjoy well-appointed building amenities including indoor pool & gym. A location to beat, close to shopping, recreation, schools, Skytrain, transit & so much more. Act Now! Open Oct 26 from 2 to 4.


Immigrants buy 21 per cent of houses and may purchase 680,000 homes during the next five years, a Royal LePage poll shows.

Newcomers to Canada account for more than a fifth of the housing market, helping boost real estate in Ontario, Quebec and B.C., according to a new survey.

Immigrants buy 21 per cent of houses and may purchase 680,000 homes during the next five years if migration levels are maintained, the poll commissioned by Royal LePage shows.

“In addition to supporting Canada’s economic growth, newcomers to Canada are vital to the health of our national real estate market,” Phil Soper, Royal LePage president and CEO, said in a statement. “Newcomers are doing more than investing in Canadian real estate, they are investing in their family’s future.”

The survey lands as the country’s housing markets rebound from the imposition of tighter mortgage rules over the past two years that were brought in to limit speculation and soaring prices in markets such as Vancouver and Toronto.

Prices have fallen in Vancouver and increases slowed in Toronto, but their markets are gathering steam again. Buying activity rose another 0.6 per cent in September to 512,000 units (seasonally adjusted and annualized) — the highest level in 21 months and 6.6 per cent above the 10-year average, according to the Canadian Real Estate Association.

More evidence of a red-hot real estate market came on Wednesday when the Toronto Real Estate Board reported that condo sales in the third quarter rose 11.1 per cent compared to the same period last year.

“Condominium apartments are obviously a popular choice amongst first-time home-buyers,” said Jason Mercer, TREB’s chief market analyst. “Moreover, it is also important to remember that condominium apartments owned by investors represent a huge component of the GTA rental stock and certainly account for most additions to the rental stock, on net, over the past decade.”

Newcomers to Canada are vital to the health of our national real estate market

Phil Soper, Royal LePage president and CEO

Royal Bank of Canada senior economist Robert Hogue notes that conditions are ripe for another rally in housing prices after a pause earlier in the year.

“Demand-supply conditions have tightened up, and are gradually heating up prices. Low interest rates, strong labour markets and rapid population growth will continue to fuel demand in the period ahead,” said Hogue in a report. “Promises made during the federal election campaign could heat things up further.”

All the major political parties remain open to some levels of immigration, and the perception appears to hold among newcomers, according to the LePage survey.

The poll of 1,500 people who arrived in Canada within the last 10 years found more than half of newcomers — 54 per cent — chose Canada because it’s a good place to live and work while three quarters said they didn’t consider moving to the U.S., with 31 per cent citing a better reception for immigrants in Canada and 26 per cent saying it was safer.

Almost half — 46 per cent — chose Ontario, helping power the province’s property market especially in Toronto and Ottawa, according to the survey. Nearly a third — 32 per cent — of newcomers to those cities buy houses, which is the national average, the poll showed. That compares with 68 per cent home ownership for all Canadians, according to Statistics Canada.

Quebec drew 19 per cent of newcomers because of good schools, quality of life and relative affordability, which helps counter an aging population and those who leave the province, according to Royal LePage’s local vice president and general manager, Dominic St. Pierre.

“In addition to enriching the province’s social fabric, newcomers provide a population boost that supports both a healthy economy and vibrant real estate market,” St. Pierre said.

B.C. came third with about 13 per cent of newcomers to Canada, according to Statistics Canada and holds the survey’s highest amount — 89 per cent — of those who arrive with savings to buy a house, perhaps reflecting the strong influx of wealthy Asians in the market.

Provided by: COLIN MCCLELLAND with the Financial Post


Just wanted to take this time to formally express our thanks and appreciation for guiding us through this process. Your passion and expertise truly sets you apart from other realtors we’ve worked with.

If we ever need real estate assistance again in the future, you will certainly be on top of our list.

H. & R. L.


Market Momentum Continues into the Fall

The British Columbia Real Estate Association (BCREA) reports that a total of 6,938 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in September, an increase of 24 per cent from the same month last year. The average MLS® residential price in the province was $697,943, an increase of 2.1 per cent from September 2018. Total sales dollar volume was $4.84 billion, a 26.5 per cent increase from the same month last year. “Markets across BC built on momentum from the summer,” said BCREA Chief Economist Brendon Ogmundson. “While the year-over-year increase in provincial sales was quite strong, home sales in most areas are simply returning to historically average levels.”

MLS® residential active listings in the province were up 4 per cent from September 2018 to 39,117 units and were essentially flat compared to August on a seasonally adjusted basis. Overall market conditions remained in a balanced range with a sales-to-active listings ratio of about 18 per cent.

Year-to-date, BC residential sales dollar volume was down 12.4 per cent to $39.7 billion, compared with the same period in 2018. Residential unit sales were 8.9 per cent lower at 57,773 units, while the average MLS® residential price was down 3.9 per cent year-todate at $687,530.

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Provided by: BCREA


Increased demand helps housing market reach balanced territory

Home buyer demand has returned to more historically typical levels in Metro Vancouver* over the last three months.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,333 in September 2019, a 46.3 per cent increase from the 1,595 sales recorded in September 2018, and a 4.6 per cent increase from the 2,231 homes sold in August 2019.

Last month’s sales were 1.7 per cent below the 10-year September sales average.

“We’re seeing more balanced housing market conditions over the last three months compared to what we saw at this time last year,” Ashley Smith, REBGV president said. “Home buyers are more willing to make offers today, particularly in the townhome and apartment markets.”

There were 4,866 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in September 2019. This represents a 7.8 per cent decrease compared to the 5,279 homes listed in September 2018 and a 29.9 per cent increase compared to August 2019 when 3,747 homes were listed.

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 13,439, a 2.7 per cent increase compared to September 2018 (13,084) and a 0.3 per cent increase compared to August 2019 (13,396).

For all property types, the sales-to-active listings ratio for September 2019 is 17.4 per cent. By property type, the ratio is 12.7 per cent for detached homes, 18.9 per cent for townhomes, and 21.9 per cent for apartments.

Generally, analysts say that downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

“This is a more comfortable market for people on both sides of a real estate transaction,” said Smith. “Home sale and listing activity were both at typical levels for our region in September.”

The MLS® Home Price Index composite benchmark price for all residential homes in Metro Vancouver is currently $990,600. This represents a 7.3 per cent decrease over September 2018 and a 0.3 per cent decrease compared to August 2019.

Sales of detached homes in September 2019 reached 745, a 46.7 per cent increase from the 508 detached sales recorded in September 2018. The benchmark price for a detached home is $1,406,200. This represents an 8.6 per cent decrease from September 2018 and is virtually unchanged compared to August 2019.

Sales of apartment homes reached 1,166 in September 2019, a 43.6 per cent increase compared to the 812 sales in September 2018. The benchmark price of an apartment property is $651,500. This represents a 6.5 per cent decrease from September 2018 and a 0.4 per cent decrease compared to August 2019.

Attached home sales in September 2019 totalled 422, a 53.5 per cent increase compared to the 275 sales in September 2018. The benchmark price of an attached home is $767,500. This represents a 7.2 per cent decrease from September 2018 and a 0.6 per cent decrease compared to August 2019.

*Editor’s Note: Areas covered by the Real Estate Board of Greater Vancouver include: Burnaby, Coquitlam, Maple Ridge, New Westminster, North Vancouver, Pitt Meadows, Port Coquitlam, Port Moody, Richmond, South Delta, Squamish, Sunshine Coast, Vancouver, West Vancouver, and Whistler.

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Provided by: REBGV


Just Sold: 302 1570 Prairie Ave., Port Coquitlam, Glenwood PQ

Awesome Central Location

Move Right In

Price at $398,800

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Mountain Views! Spacious, open layout. Excellent "walk-ability". Does it get much better? Your search ends here. This 2 bed, 2 bath, 925sqft home has been updated throughout, shows well and is move-in ready. Features: freshly painted from top to bottom, laminate floors throughout, updated kitchen w/newer SS appliances & W/D, stone counters & plenty of cupboard and counter space, excellent room separation, updated 3pc main bath and a stone tiled gas F/P. The large master accommodates king-size bed & has an updated 4pc ensuite. The 2nd bedroom is an excellent size. Bonus: 1 parking, locker & bike room. Location to beat. Close to: transit, shopping, restaurants, schools, recreation and more. Act Now! 


University condo rentals a popular investment

After two semesters living in residence at Simon Fraser University (SFU), 21-year-old Emily McMann told her parents she wanted more privacy.

“Emily is quite independent; she found living in residence very restrictive,” says her mother, Linda McMann. “She told us that her friend’s parents bought a condo in UniverCity at SFU, so my husband Michael and I decided to look into it.”

In the end, they purchased a 600-sq.-ft., one-bedroom condo in the heart of UniverCity for $405,000.

“Emily has at least two more years and if she decides to do her masters, a few more years,” says McMann. “We also like that her condo is right next to transit, so we worry less when she goes out at night.”

Crescent Court condos at SFU by Liberty Homes

Hafez Panju in front of the Novo building, where he owns a condo

McMann sees this as a win/win situation. “We consider this condo as a very good investment. Once Emily is finished her studies, depending on the market, we might pull out our equity or keep it and rent it out to other students.”

McMann’s realtor, Hafez Panju, has been selling condos at UniverCity for a decade.

He knows what a huge demand there is for off-campus housing.So much so, Panju invested in a 410-sq.-ft. studio condo, which he rents out to students.

“I realized what a great investment it was to purchase at SFU … I just had to wait until I had more capital,” says Panju, of Personal Real Estate Corporation, Royal LePage West Real Estate.

In April 2016, Panju paid $230,000 for a studio. It was recently assessed at $305,000.

“I rent it out to an international student for $1,400 a month,” he adds. “I had 15 inquiries and it took less than a week to rent it.”

UniverCity has become increasingly popular, not only with students and faculty, but for families, couples, singles and most notably, investors like Panju. With a number of new additions, including schools, daycares, restaurants, grocery stores, hiking/walking trails and more, everything at UniverCity is within walking distance.

According to SFU Community Trust’s UniverCity 2019 report, renters at UniverCity are paying approximately $1,700 per month in rent (up from $1,500 in 2016), with the average size of a rental unit being about 800 sq. ft. Not a bad ROI (return on investment), says Panju.

It’s no wonder student housing is gaining more attention. Some are buying newly built apartment and townhouse condos targeted at this niche, or they are parents like the McManns, looking to find suitable lodgings for their university-bound children – all the while watching their investment property accrue in value.

“Many parents see that rents are high, so they would rather purchase a condo while their kids are attending university and then, once they graduate, they either sell them for a good profit or rent it out to other students,” says Panju. “The appeal for my clients, whether investors or parents is the same – it is a very steady and secure source of income.”

If you are still wondering whether it’s a good investment to purchase a condo close to a university, Jennifer Hunt, vice-president of the Real Estate Investment Network (REIN), will tell you “yes.”

“Whether as an investor or as a parent, if you invest in student condos, you don’t have to worry because there is always a steady stream of demand,” Hunt notes. “It’s an opportunity to own a piece of real estate that is revenue-generating from the moment you buy it.”

And, Hunt says, if the condo is large enough — say, two bedrooms — the extra room can be rented to other students to help defray the cost of ownership.

Vancouver-based Intergulf Development Corporation has been a pioneer at UniverCity since its planning stages more than three decades ago. The company built its first tower there, Novo, back in 2004.

“A community that would cater to students and faculty was a vision we embraced from the get-go,” says Shaadi Faris, vice-president at Intergulf. “The Terraces at the Peak is our third and newest project at SFU. All of our towers at SFU are purpose-built with students in mind. They feature quiet study and library spaces and rooftop gardens with tables for group studies, as opposed to what you normally expect in condo tower amenities, like pools and gyms.”

In the end, all four re-iterate the same thing: “At UniverCity, you have a constant stream of captive audiences for your product.”

Provided by: Michelle Hopkins


Just Sold: 105 9232 University Cr., Simon Fraser University

Large 2 Bed Home

Fully Covered Patio

Price at $484,800

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Clean & Spacious! Located in UniverCity, Vancouver's premier lifestyle neighborhood, Novo II is a concrete rental & pet friendly building with private gym & amenity room. This South East facing, 2bed, 2bath, 916sqft home offers an open layout, excellent room separation & well sized second bed. You won't be disappointed. Features: freshly painted, stainless apps, granite counters throughout, breakfast bar & lots of cupboard/counter/closet space. The large master has 3pc ensuite & walk-in closet. Enjoy BBQs on the covered patio. Excellent location: transit, shopping, nature, indoor/outdoor rec. & a host of amenities available only to UniverCity residents. Do not miss your chance to enjoy living in this great lifestyle neighborhood! Act Now. 
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