The public is invited to attend a drop-in open house on Tuesday, Jan. 19, 2016, to learn more about the $36-million Mountain Highway Interchange project designed to improve traffic flow and safety on the Trans-Canada Highway (Highway 1) north of the Ironworkers Memorial Bridge. 

The new Mountain Highway Interchange project is the first phase of the $150-million Lower Lynn Improvements project, which is slated for completion in spring 2021.

This open house session is an opportunity for people to learn about the upcoming Mountain Highway project and provide feedback. Staff from the Ministry of Transportation and Infrastructure and other members of the project team will be at the open house to go over the information, answer questions and provide details on this important three-phased project.  

If you’re unable to attend, the information presented will be posted online after the start of the open house and an online feedback form may be filled out at:http://gov.bc.ca/lowerlynninterchanges

You may also send comments or questions to the project team by phoning 604 527-3105 or sending an e-mail to senior project manager Jay Porter at: Lowerlynn@gov.bc.ca

Public Information Session:

Date: Tuesday, Jan. 19, 2016
Time: 4 to 8 p.m.

Media invited at 3:30 p.m.
Public invited from 4 to 8 p.m.

Location:
Holiday Inn & Suites
700 Old Lillooet Rd.
North Vancouver

Learn More:

Highway 1 – Lower Lynn Improvements Project website:

http://gov.bc.ca/lowerlynninterchanges

Follow the work of the British Columbia Ministry of Transportation and Infrastructure online: www.tranbc.ca

So it was a slow news week last week.  Combine that with the media’s ravenous appetite for real estate gossip, and the increase on your 2016 Property Assessment is once again an exciting topic.

Yes, there have been continued increases in prices in the Lower Mainland, and particularly the North Shore month over month for many years running, but this is all readily available public information, so not really a surprise that 2016 Assessments are considerably higher than they were in 2015.

The thing is, Property Assessments do NOT necessarily equal market value (that’s actually good news, because if 2016 Taxes were actually based on end of year 2015 values, they’d be considerably higher – see below).

And, just because your Assessment went up, doesn’t mean your taxes will increase by the same amount (or even at all).  And, if your taxes increase, besides a change in assessed value, there could be changes in the City’s Tax rate, or in other tax authorities’ tax rate, so it’s not all about the real estate.

The municipal portion of the property tax bill (property tax + utilities) represents roughly 65% of your entire tax bill in the City if North Vancouver.  Additional property tax charges are levied by Metro Vancouver regional district, TransLink, the Province of BC (school taxes), the BC Assessment Authority and others. Year-over-year changes in these charges may vary significantly from the change in the municipal property tax.

As a brilliant example, The City of Richmond (different municipality, but the concept is the same) was fed up with the confusion, and has a terrific YouTube video on how Property Taxes are calculated, and you can view it here:

https://youtu.be/_EYvg6X0bDQ

Here are the price increases of a Benchmark North Vancouver home in the Assessment Period (you may find similar increases over last year on your Assessment Notice):

                   July 2014 - July 2015                         Dec 2014 – Dec 2015

                   (assessment period)                                      (Year over year data)

Detached       16.5% ↑                                            + 26.6% ↑

Attached            3% ↑                                            + 16.6% ↑

Apartments       2% ↑                                            +  9.9%  ↑

Off the cuff, we can’t recall a year when an individual tax bill has decreased, regardless of what happens to property values.  However, at some point economies of scale must come into play.  Increased tax base, more people, higher property values … We look forward to the year when the Municipalities do a better job with what they’ve got and are able to deliver some good news in the mail the first week in January.

P.S.

Here is a service that you may find helpful – available each New Year until March, where you can view details on a single property, compare neighbouring properties, and compare sales information.

HERE is a link to the BC Assessment News Release for 2016.

We are happy to help you with more stats – we have LOADS of them, for every neighborhood.  You can take a peek here.

Let’s face it – Real Estate is an incredibly hot topic, and has been for the last 10 years at least – as it has morphed from owning “somewhere to live” into an enormous industry unto itself – prompting a plethora of TV shows, trade shows, workshops, seminars, shops & services, plus daily chatter at your local coffee shop, and on every possible social media site.

Supply, Demand, Interest Rates and Income.   Over history, these have not changed as the main influences in a real estate marketplace.

How do you know which report to rely on for information? – for example, on November 9^th Global News reports on a “Risk of Severe Housing Slump Rising”… but if you get to the end of the article, you will read that “All told, there will be “modest unwinding” in housing activity in Ontario and B.C.”.

Today, CTV News has an article on their site quoting “no bubble burst”, with Central 1 credit union predicting that low mortgage rates through 2017 will keep sales sizzling, and prices rising.  Sigh.

There is no doubt prices are the highest they have ever been in our fair city, and especially the North Shore & the West Side of Vancouver.  Folks that already live here are, by all accounts, still loving it here and want to stay – making supply so slim, it’s crazy. And certainly, household income has not kept pace with the increase in median price in the Lower Mainland, and BC specifically stands out as the province that is the most costly to live in – taking the ratio of income to house prices.

Interest Rates today are still incredibly great – 2.54% for a five year term – fuelling the fire of an already what some would call, “overheated” market.  But how do you define ‘overheated’ ??  People have always thought that Vancouver has been expensive.  The North shore has particularly been an expensive place to live – and the reason is the same – MANY people still love it here, and want more than anything, to live here.  Demand.

When we first began buying real estate, an average house in North Vancouver was just over $100,000 – and when that number became $200,000, everyone was up in arms.  Breaking major price points over the last 25 years has always invoked the same response from consumers - except – gulp today, we’re talking “millions of dollars”!   The price increase we have seen in the past year is approximately 20 – 25%.  We have also seen similar increases in the period mid 2005 to mid 2006, when median prices jumped approximately 30%, and then again in early 2009 to early 2010, when they jumped again approximately 20%.  YIKES!

There is no doubt it is tough out there, no kidding!  Buyers are finding it a real challenge – and we as facilitators for buyers & sellers are also finding it a real challenge to locate a good home for our valued clients, and to provide comforting counsel to folks who are considering selling, but worried about where they will go should they sell.

So here are our thoughts & maybe a little advice on how to manage investing in and staying in one of the most desirable places to live ! 

(1)    Start somewhere & just get into the market – the important thing is to stop paying rent.  Consider purchasing an older apartment with a friend, or get a room mate.  There are 235  apartments for sale in North Vancouver today (that’s 50.6% of our market) , and 109 of those are under $400,000.  A $200,000 mortgage costs about $1000 per month today.  Typical strata fees are about $300 per month – & add $100 - $175 a month for property taxes.   It’s possible that’s less than you will pay for rent here.  You’ve got to start somewhere.

(2)  Not ready to buy just yet?  Chat with a financial planner & a local mortgage broker and start your plan.  With guided advice and your goal setting program, you’ll be further ahead when the time comes.

(3)  Sit down with and ask questions of a seasoned, honest Real Estate Advisor – who should be part of your financial team, for now & into the future.  Learn about today’s real market conditions from someone who is working 24/7 in the market – DON’T rely on traditional or social media to form your opinions & make your decisions – trust the experts!

(4)  Set goals to save money & tuck it away for your real estate portfolio … over history, it has been one of the best investments you will ever make.

(5)  Living in Vancouver is the reality of living within the Pacific Rim, but check out average composite (all property types) home prices in:

San Francisco      $1,109,900      up 14.7% over year     up 4.8% 2016 expected

Singapore              $1,155,020.       up  18% last 3 months

Hong Kong            $2,047,850       for on average, 753 square feet

(Vancouver $636,000)

And, it’s not always about real estate.  Here’s some advice from Warren Buffett  - he has said the best investment he ever made was not a stock or a bond or even in real estate, but buying a copy of  The Intelligent Investor, a book written by Benjamin Graham. Buffett read the book when it came out in 1949 and later enrolled at Columbia Business School in order to take classes with Graham. Buffett says the book still guides his investment decisions today, and he has recommended it to Bill Gates, among others. Here's what Buffett had to say about the book in his most recent letter to Berkshire shareholders:   I can’t remember what I paid for that first copy of The Intelligent Investor. Whatever the cost, it would underscore the truth of Ben’s adage: Price is what you pay; value is what you get. Of all the investments I ever made, buying Ben’s book was the best (except for my purchase of two marriage licenses).

In today's highly competitive market, developers have had to (finally!) build quality homes at (relatively) attractive prices.  

We are not easily impressed - we've been doing this a really long time, and sometimes we feel we've 'seen it all'.   However, many of the newer projects in North Vancouver, and especially Lower Lonsdale are making waves for their good prices, good floor plans, good amenities, and overall good value.

It’s apparent that the buying public is impressed – there are just five homes left at the Anchor, a boutique community of 56 homes, in @LowerLonsdale.  7 stories, built to LEED Silver standards by Kamcon Construction – a local, family-owned company, and designed with lots of natural light, impressive decks, and favourite retailers conveniently located at ground level.

Owners will experience water views, city lights & sea air – and enjoy peace of mind with concrete construction and a ‘leave your car at home” walkable neighbourhood of shops and cafes.  Waterfront Park, The Pier and Spirit Pacific Trail right in your backyard – plus, it’s just a 12 minute Seabus commute to downtown Vancouver.

Environmentally progressive features include a green roof and efficient hot water and heating supplied Lonsdale Energy Corporation. Design includes Caesar stone counters, stainless appliances, gas range & French Door fridges,  Italian tile & 100% wool carpet. Some suites even offer oversioze terraces and 11' ceilings. 

Building amenities include a Gym with commercial grade equipment, a Party Room with full kitchen & bath, but Tony Govic, Sales Rep at the Anchor says his "favorite building amenity is the 3,000 square foot Roof Top Deck, complete with BBQ, washroom & 360 degree views!"

Remaining homes available are well priced at about $650 per square foot, plus 5% GST.  There are 2 x 1 bedrooms priced from $399,000 to $465,000, and 3 x 2 bedrooms, priced from $555,000 to $649,000 [parking & storage included].

Lower Lonsdale just becomes more vibrant by the minute!  Move in early 2016 . 131 East 3^rd Street, North Vancouver  www.theanchorliving.com

There’s a fair amount of mis-information out there about what is considered ‘safe’ wiring in the home.  Aluminum wiring, knob & tube, 60 amp service panels, upgrades without proper permits …

We have found a service that can tell you what needs to be done to make your home safe.  They have advised that after over 5,000 inspections, knob & tube is generally never a problem, and neither is aluminum wiring, if properly connected.  Most of the problems they encounter are from poor ‘handy man’ jobs, deteriorated wiring, improper connectors & unlawful upgrades.

POWERCHECK Electrical Safety Services is an impartial, third party inspection service.  They only do inspections, and do not preform repair work.   They will examine the electrical system in your home and provide you with an accurate Electrical Safety Assessment which will come in very handy when it comes time to insure your home.

Through a comprehensive analysis of the electrical system by an expert, the safety of the electrical system is determined. The home is then described as Low, Medium, High, or Extreme Risk. This provides an opportunity to easily understand the electrical safety of the home. If hazards are identified, they are clearly laid out in the report, so that an independent electrical contractor will know exactly what actions to take to make the house safe.  All PowerCheck agents are Master Electricians (or equivalent) and/or retired Electrical Inspectors; all with decades of experience in home electrical systems.

The assessment itself takes about 90 minutes in the home. It consists of an 80-point examination and is non-invasive, and comes with an easy to understand safety report, sent to the home owner within one business day.   This comes at a very reasonable cost: the standard rate for a single family home is $380, plus tax.

Want to have some peace of mind and make your home electrically safe?  Visit their website at www.powercheck.ca

Buying or selling a home in today’s real estate market can be an emotional experience, but it needn't be a trying one.  

In the video presented here, REBGV President Darcy McLeod takes a look at the housing statistics for September 2015.  In particular, you will see how changes in the supply of homes for sale can impact the market.

The two factors that impact our market most are inventory, and interest rates.  With  inventory at less than HALF of what we normally see at this time of year, and today's best 5 year rate at 2.54% fuelling the fire of already amazing demand, it makes sellers nervous (if we sell, where will we go ?), and buyers frustrated (we're in Competition, AGAIN ?)

The good news is, we have solutions for you -  with over 50 years' experience under our collective belts,  we have helped our clients reach their goals in all types of market conditions. 

Some basic strategies:  

Be ready - we'll walk you through the best way to be organized and ready

for your purchase or sale, so that nothing is a surprise.

Start "Window Shopping" Now - get a comfort level with current inventory & prices, before you post the "For Sale" sign in your yard.  You'll feel better having this information.

Leverage our Client Base - we don't just wait for MLS - we have over 700 families that we are in contact with that may have a home that matches your needs.

Consider Personal vs. Market Timing - there are lots of ways to 'massage' dates that are important to you, or the family you are buying from.

Have a "Plan B" - maybe there's an interim rental possibility if the next right home for you is just not out there yet.

When you've made the decision to sell your home or buy a new one, call us and we'll outline an effective plan that takes into consideration all of your needs and goals.

Take advantage of our experience and quality of service through each step of the transaction.  Whether you are moving across town or across the country, you can expect the best from us.

Interesting News today regarding proposed changes to the Strata Property Act, courtesy of News Talk 980 CKNW.

As we see buildings continue to age, there have been occasions where there is a desire to sell to a Developer. There's one case in North Vancouver that we know of that has been ongoing for many years, because at this time, under the current Act, 100% of the owners must agree to the sale in order for it to move forward.  Ultimately, court action has been taken, as not everyone was in agreement.  This case is still ongoing.

The Province is proposing moving the percentage of owners in agreement from 100% to 80% agreement.   This is a lengthy process and will not have immediate effect.  We'll see where this goes!

READ MORE  HERE 

Come one, come all, to our Pumpkin Patch at LYNN VALLEY VILLAGE ! 

RAIN or SHINE, bring the family to the Community Room beside the Library at Lynn Valley Village, on Saturday, October 10^th, between 11:30 am and 3:30 pm, and enjoy the Celtic sounds of “Crooked Road Band”, while you warm up with coffee or hot chocolate and pick your pumpkin for Hallowe’en! 

Back by popular demand is the very talented Melanie Dawn, makeup artist & face painter!  Melanie arrives at 12:30 and will be there until 3:30.

We look forward to celebrating the season, and our neighborhood, with you !

It's nearly Fall - the time for cooler weather and shorter days. It’s also the perfect time to prepare your home for the winter months that lie ahead. Performing regular maintenance of your home protects your home’s value and can prevent major repairs.

Here is a list of common maintenance tips that you should perform each autumn.

Roof and Gutters

Ice, snow and wind can cause weak trees or branches to break. Part of your winter preparation should include trimming back all tree limbs and vegetation away from the roof.  You also should remove debris, such as leaves and sticks from your gutters and downspouts. Clogged gutters don’t allow water to properly drain away from the home, which can cause seepage in your ceilings and walls. You can also invest in gutter guards, a screen that prevents debris from entering the gutter and directs the flow of water away from the house and into the ground.

Water Heater

You don’t want to find out that your water heater isn’t operating properly when you need it most. So use this time to perform an annual inspection, which includes having your tank’s pressure and temperature relief valve checked. In addition, remove sediment from the bottom of the tank by draining two gallons of water to improve heat transfer and the efficiency of your heater.

Heating and Cooling System

If you have a forced warm-air heating system, you should check the exhaust vent and air shutter openings for dirt and dust. Clean any lint and dirt from the blower blades, motor and burner (if you have a gas heater). Vacuum air passages and check and replace, if necessary, fan belts. To prevent airborne dirt from circulating throughout your home, wash out your reusable filter or replace it if it disposable.

Doors and Windows

To help control heating costs, you want to make sure that your doors and windows are properly sealed.  Now is the time to repair or replace weatherstripping around door bottoms and jambs and window frames. Check for loose or missing glazing putty and caulking for deterioration.  If you have storm windows, install them.

Water Pipes

Frozen or burst pipes can cause major damage to your home and be an expensive to remedy. Before frigid weather hits, protect your pipes in unheated areas from freezing by adding insulation, which reduces heat loss from hot-water pipes and condensation on cold water pipes. This can be accomplished by wrapping the pipes with heating tape or blanket insulation and duct tape or by encasing the pipes with preformed plastic foam. In addition, examine your pipes for cracks and leaks.

Fireplace

Before you light the logs and get ready to settle in front of a cozy fire, make sure that your fireplace is in good working order. Clean the chimney flue and if needed inspected and repaired. Check the seal on your flue, which is designed to keep out drafts. Replace the seal if it is loose or damaged.

If you decide to do the fall maintenance yourself disconnect the power for any electrical or gas systems.  In addition, before inspecting, cleaning or making any repairs refer to your owner’s manual for all equipment for proper instructions, which should be the final authority on any maintenance.

Although this list is merely a guide, it can help you keep your home in good shape and have a winter free of major repairs.

Thursday August 20th (Yes, Tomorrow!)  is the North Shore’s first ever Dinner on the Pier and we want YOU to be a part of it!

It begins with cocktail hour at the Pipe Shop Building in Lower Lonsdale.  Be treated to LIVE music, a "Nautical" themed photo booth and raffle prizes before heading to the Lonsdale Pier to enjoy a long table dinner beside the ocean.  

Proceeds from the event will go to a wonderful charity, Growing Chefs.

Wait!  It doesn’t end there, the Pipe Shop Building will transform into the Summer Nights Party with award winning DJ Physik on the turntables to create the ultimate dance party.

Tickets include the following:

• Signature cocktail by The Juicery Co.
• Complimentary wine by Haywire
• Complimentary beer by Deep Cove Brewery
• Appetizers by The Pinnacle Pier Hotel
• Charcuterie Board by Bowen Island Pizza Co.
• “The Best Salmon Ever” lox and fixings
• Fresh bread and KitsKitchen Organic Apricot Chutney
• Family Style West Coast inspired dinner by The Pinnacle Pier Hotel
• Dessert by The Cake & The Giraffe
• Free entrance into Summer Nights Party

CONTEST

This contest runs 9am to 9pm TODAY and is open to EVERYONE - anyone can win, because everyone involved in this event is awesome and has worked so hard to bring it all together!

Win 2 free tickets to Dinner on the Pier from The Botto Team

HOW TO ENTER

1. ‘Like’ TheBottoTeam on Facebook

2. Follow @thebottoteam on Instagram

FOR ADDITIONAL ENTRIES:

'Tag' who you would take or give the tickets to in the Instagram or Facebook posts for one additional entry.

'Share' the Facebook or Instagram post for THREE ENTRIES !

Hey, we'll even get you an additional entry if you follow us on Twitter !

Enjoy our JULY Real Estate & Community News HERE.