The Housing Bubble in Vancouver (Lower Mainland, BC)

Housing Bubbleoney, By Cameron Muir, BCREA Chief Economist I am now convinced that we will never hear the end of housing bubble speak. The premise is now as firmly entrenched in popular consciousness as carbon emissions and TMZ. It has taken the form of idolatry in the blogosphere, where any countervailing narrative is demonized. It has catapulted university dropouts into media darlings because of a hackneyed webpage and an opinion. It has been tarted up by so-called experts who predict impending doom year after year, despite being completely wrong every time. Now, I’m not wearing tinted glasses. Housing markets go up and they go down. However, my point is that sharp and signif- icant declines in home prices are usually created by massive economic shocks, like the 21 per cent mortgage rates and recession of 1982. Yes, there can be short- term speculative bubbles that float back to earth after the circus leaves town, but home prices in Vancouver, for example, have been incongruous with other Canadian markets for decades. The big test was 2008. That was the year of the doomsayers, when the largest financial crisis since the Great Depression besieged us and the collateral damage hurled us into a global recession, one from which we still haven’t fully recovered. The airwaves were all a buzz with end of the world prophets and those predicting home prices would be chopped in half, at least. It was going to be the big one! The housing market had gone through a significant inflationary period leading up to 2008. Unlike today, specula- tion was clearly evident. Accusations abounded that Vancouver was overvalued, unsustainable and frothy. One financial institution even had a publication called Housing Bubble Watch, now defunct, in which Vancouver was always the straw man. So what happened? Home prices fell …

Free Properties in White Rock, BC?

Only 100 years too late !!  When I finish building my time machine, I’m going back to 1911 to take part in this deal!! Check it out!

Kallisto: 3009 156th ST, South Surrey / White Rock Townhouse

Your Community Nestled in a dazzling natural setting, your home at Kallisto is within an easy 10 minutes’ drive to White Rock’s famous beachfront restaurants and galleries, neighbourhood shopping destinations like Grandview Corners and Peninsula Village and the U.S. border. Schools, transit, and Highway 99 to Vancouver all make the move to Kallisto a smart one. But this home is also a little bit country, with Sunnyside Acres Urban Forest, farms and wineries, seasonal farmers’ markets and major recreational areas also minutes away. First ImpressionsExpect love at first sight when arriving at Kallisto, with its well-designed landscaping, including individual yards and some garden-level concrete patios.Of course, your own community Amenity Building for those oversized parties and on-site play equipment certainly spell convenience. At Kallisto, the emphasis is on quality construction and finishes, from the smallest details like high-style sinks to the impressive stonework that defines this group of residences. Four floor plans each boast two, three, or four bedrooms, and an interesting selection of layout options to suit your lifestyle. Whether you’re a growing family or just need plenty of room for guests and entertaining, you’ll find your fit here. The Inside Story Beyond the impressive heritage-style, raised-panel front door, you’ll find an enticing living room. Nine-foot ceilings and a cozy mood-adjustable fireplace set into the wall surrounded, in many units, by lit niches make the look a real wow. Large windows and crown molding on this main level all contribute to a feeling of space and luxury.While the innovative layouts have been designed by an award-winning architect, you’ll be able to choose from two designer coordinated colour schemes: “Summer” for those who identify with a light, breezy pallet and “Winter,” if rich espresso tones are more a reflection of your taste.The feeling of spaciousness extends through to Kallisto’s smart, …

Vinterra: Townhouse at 2603 162 ST, South Surrey / White Rock (Morgan Heights)

In the tradition of the legendary Frank Lloyd Wright, the architecture for Vinterra (2603 162 ST, South Surrey / White Rrock, Morgan Heights) is purposely-and brilliantly-simple. A discerning contemporary design is complemented by an innovative landscape plan that, like Vinterra’s architecture, is refreshingly clutter-free. Through the grounds, walkways link a set of three exquisite community pavilions. Free of fussy adornment, exterior surfaces of wood and brick respond authentically to the environment, and are expressed in a natural palette of charcoals, soft greens and earth tones. Vinterra is a contemporary classic, in tune with discerning new-century lifestyles. Encouraging ease and inspiring creativity, interiors start with floorplans that translate to generous inventive multi-level spaces that are infinitely flexible in both purpose and presentation. Everywhere you look, imaginative design exceeds expectations – from the impressive glassed-in entry way and staircase, to the oversized doors connecting to strongly conceived exterior spaces. Three- or four-bedroom floorplans can accommodate the Master suite on either the main or upper level. And if you’ve ever dreamed of a home theatre, personal gym or wine cellar, these optional luxuries can be integrated into your Vinterra home. TO FIND OUT ABOUT NEW LISTINGS AT VINTERRA BEFORE THEY HIT THE PUBLIC MLS, CONTACT: LOCAL:  604-764-1380 EMAIL:  TREVOR@THETOWNHOUSEGUY.CA

Niche: Townhouse 3039 156th ST, South Surrey / White Rock, BC

Stylish and discerning, you want a home that reflects your good taste. The residences at Niche (3039 156th ST, South Surrey / White Rock) feature quality finishes and stylish touches that speak of refinement, sophistication and class. Come home to spacious, innovative floorplans, individualized by your choice of two designer colour schemes. Wake up to breakfast in a kitchen with elegant stone countertops, classic shaker-style cabinets and an extra large single bowl undermount sink with polished hardware. Your professional series stainless steel appliance package, including a gas range, offers the perfect equipment for crafting gourmet meals, while a ceramic and glass backsplash adds a finishing touch of gleaming style. Inside your home, enjoy nine-foot ceilings on the main living level, wood laminate flooring and oversize windows with white wood designer blinds. Large, private patios and decks offer an ideal venue for an intimate outdoor dining experience. All homes have enclosed yards that extend your living area into the great outdoors. After work, relax in your ensuite’s luxurious soaker tub or take an energizing shower with a stainless rain showerhead. With custom vanities, side-by-side undermount sinks and stone countertops, your bathroom is a spa-like retreat where you can indulge in guilt-free pampering. Niche has a wide variety of thoughtful gathering places where a sense of community is easily established. There’s a residents’ lounge, where a full kitchen, barbecue and picnic areas are the perfect location for an al fresco meal with friends. Home at Niche means natural living in a community surrounded by a secluded park like setting. Hone your bird watching skills at the observation deck overlooking the creek or take a quiet stroll along one of the many walking trails nearby. TO FIND OUT ABOUT NEW LISTINGS AT NICHE BEFORE THEY HIT THE PUBLIC MLS, CONTACT: LOCAL:  604-764-1380 EMAIL:  TREVOR@THETOWNHOUSEGUY.CA

Wills Creek: Townhouse complex at 3109 161ST & 3122 160th ST in South Surrey / White Rock

Located in the heart of Morgan Creek (3109 161ST & 3122 160th ST, South Surrey / White Rock) these well designed townhomes include every detail. These homes boast Geothermal heating & cooling, Fisher Paykel stainless appliances, gas fireplaces, granite countertops, heated ensuite tiles, and interior design palettes from Ledingham Design Consultants. The 2,000 ft Creek Club features a state of the art fitness centre plus a pool and hot tub. . TO FIND OUT ABOUT NEW LISTINGS AT WILLS CREEK BEFORE THEY HIT THE PUBLIC MLS, CONTACT: LOCAL:  604-764-1380 EMAIL:  TREVOR@THETOWNHOUSEGUY.CA  

December, 2012: White Rock / South Surrey Real Estate Market Update

FRASER VALLEY REAL ESTATE SALES AT LOWER LEVELS IN 2012 (Surrey, BC) – Fraser Valley’s real estate market in 2012 will be remembered as the year buyers and sellers took a breather reflecting quieter sales, an average number of new listings and prices overall remaining flat. The president of Fraser Valley’s Real Estate Board, Scott Olson, says, “The last half of 2012 was like a Mexican stand-off. Buyers kept hoping for greater price drops while sellers who didn’t have to sell just took their home off the market rather than lower their price. “With the economy so stable, we’re not in a situation where people have to sell their home, so they’re not. It’s a very different market than in 2008 when listings were at an all-time high and sales were at historical lows.” The Board’s Multiple Listing Service® processed 13,878 sales in 2012 compared to 15,529 the previous year, a decrease of 11 per cent, while the number of new listings remained about the same – 31,009 in 2012 compared to 31,592 in 2011. Over the year, the number of active listings for buyers to choose from dropped by 3 per cent going from 7,399 properties in December 2011 to 7,187 in December 2012. Although 2012 ranks the second slowest year for sales in Fraser Valley since 2003, the volume of new listings finished in the middle of the pack. Scott Olson, says, “Inventory levels are down, which is a sign of a healthy market where insufficient demand leads to reduced supply. This is also keeping prices in most areas either flat or down only slightly.” In December, the benchmark price of a detached home in the Fraser Valley was $539,000, an increase of 1.2 per cent compared to $532,700 in December 2011 and a decrease of 1.0 per …