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In celebration of the best guy around, we’ve rounded up our favourite boys’ day out activities to make Sunday, June 19th unforgettable this year.


Our Top Five Things To Do This Father’s Day Weekend


1. Kick off the weekend with a BC Lions football game versus the Calgary Stampeders Friday, June 17th. Get your tickets here! More of a European football fan? The Vancouver Whitecaps are playing New England Revolution Saturday, June 18th, tickets available here.
 
2. More the adventurous type? Have lunch 2,000 feet above sea level. About an hour’s drive from Vancouver, the 11km adventure hike that is the renowned Stawamus Chief overlooks the town of Squamish with spectacular views of the surrounding mountains and water. Choose from old-growth forest trail or one with views of Shannon Falls. Feeling particularly daring? The front face of the Chief is popular for experienced rock climbers.
 
3. If chilling’s more the order of the day, stop by The Liberty Distillery’s Cocktail Lounge on Granville Island. Sip one of the Distillery’s artisanal premium spirits, handcrafted on site “from grain to glass” at the 110-year-old antique bar. Service starts at 11am; meaning on boys’ day, any time is a good time to try the good stuff.
 
4. Get cultural and take in a play at the annual Bard on the Beach festival. There are two preview performances of award-winning The Merry Wives of Windsor on Sunday, June 19th. This classic tale of mischief and sweet revenge is set against the beautiful back-drop of mountains and water at the Bard tents in Kitsilano’s Vanier Park. For more performances, check the official schedule here.
 
5. A short, thirty-minute drive out of the city will have you on the Redwoods Golf Course doorstep. This lush, 18 hole Ted Locke Championship course offers breathtaking views of the surrounding mountains beyond the tree-lined green. Redwoods also offers a Driving Range, the Grill, and flexible bookings from a one-time tee time to seasons’ passes.
 


No matter how you choose to spend your guys’ day, we wish you and all the dads out there a Happy Father’s Day!



Photo credit: Juan Gomez


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Jewish Independent newspaper clipping feat. Andrew and Jill Hasman

 

Thank you to the Jewish Independent for featuring us in last week's paper! If the image is difficult to view, we've transcribed the exerpt below. 

 

"A power couple in real estate: Andrew and Jill Hasman are experts in West Side homes.

 

Handsome couple. Jill and Andrew Hasman, eh? And a handsome couple handsomely coupled in marriage as they are partners in their highly successful real estate firm, Andrew Hasman and Associates, serving this community for more than 20 years. “And we’re also married 20 years,” adds Jill.


Andrew, born in England. Jill, in Winnipeg. But this town is where they met, married and merged professionally. Inevitable, I figure, that Andrew and Jill chose professional independence. “I’m from an entrepreneurial family,” says Andrew. “My parents were always self-employed,” says Jill. Like parents, like progeny!


As real estate-nik partners, Andrew explains he’s more the business side ... “market specifics and property valuations.” Jill ... “I tune up the house for resale, provide the craftspeople and coordinate the necessary tasks to get a home ready and in order for topdollar resale.”


Metro Vancouver is the Hasman beat, so to speak, “but our expertise is in West Side home sales,” concludes the couple. And I’ll conclude as I began ... a couple, indeed, most handsome!"

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Vancouver

Spring is out of the gate at top speeds. The March numbers are in, and they’re breaking new records. Residential property sales in the Lower Mainland totalled 5,173 this past month: a whopping 56% above the 10-year sales average for March. They were up by 24% from February alone (4,172 sales), and 27.4% up from the 4,060 sales in March 2015.


“Strong job and economic growth in our province, positive net migration and low interest rates are helping to drive this activity,” said Real Estate Board of Greater Vancouver’s new president, Dan Morrison. Morrison, who started his tenure as the REBGV’s fearless leader last month, went on to explain that the demand is broad-based. Meaning sales aren’t concentrated in one particular neighbourhood, which is great news for sellers looking to get their properties on the market.


There were a total of 6,278 new listings in March, covering detached, attached, and apartment properties across Metro Vancouver. It’s a moderate 5.2% increase from the same time last year, and an 8% increase from February. What’s interesting, is that the total number of properties for sale is 7,358; a dramatic 40.5% decline from March 2015.

The Rest At a Glance:

Benchmark price for all residential properties: $815,000
23.2% increase from March 2015


Benchmark price for a detached property is $1,342,500
27.4% increase from March 2015


Detached property sales totaled 2,135
24.8% increase from March 2015


Benchmark price for an apartment property is $462,800
18.8% sales increase from March 2015


Apartment property sales totaled 2,252
38.4% increase from March 2015


Benchmark price for an attached unit is $589,100
20.1% increase from March 2015


Attached property sales totaled 786
8.9% increase from March 2015

 

For a complete comparison, visit rebgv.org. Want to sell, buy, or require a consultation? Contact me today.


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


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Vancouver

If it’s been a while since you listened to the radio, make the next time you turn up the dial The Early Edition with host Rick Cluff on CBC Television. His take on local news as well as the influence of international affairs on our local communities in the Lower Mainland are spot on. One particular podcast caught our attention recently, when Cluff spoke with several experts around the globe about the current state of our real estate market. The round table discussion puts an interesting perspective on our market as part of the whole. Read on, or listen to the full podcast here.


Rick Cluff: There’s much debate on the role of foreign investment in Vancouver’s real estate market. We don’t collect data on how many homes are bought by overseas buyers, though the BC government says it’s going to begin doing that. But, we do know the top international wealth managers are advising clients to invest in Vancouver real estate and our city just topped places such as San Francisco and Sydney as the #1 luxury real estate market in the world. CBC’s Catharine Rolson took a trip around the world to find out how the debate over foreign ownership is playing out in other cities, and what they’re doing about it.

Catharine Rolfsen: Before we head overseas, let’s start a little closer to home with our neighbours to the south. I spoke to Kathleen Pender, business columnist with the San Francisco Chronicle and she says prices in that city have gone up astronomically as well.

Kathleen Pender: Many people feel like it’s a combination of people with high paying tech jobs and people coming from overseas with lots of cash wanting to invest in our market. It’s as much as an investment as a place to live. Those two factors are making housing unaffordable for most people in the Bay area.

CR: Sound familiar? Kathleen says she’s interviewed realtors in parts of the bay area who say that 20-30% of their sales are to foreign buyers.


RC: So what are they doing in San Francisco about foreign ownership?


KP: Nothing! As far as I can tell there doesn’t seem to be any effort to find out how many are buying or restricted in any way which is kind of surprising because there’s been a lot of protests against the tech people. In the Pier area there’s a lot of animosity that all these high paid tech workers are driving up the costs for everybody. We’ve had protests in front of school busses and that sort of thing.


CR: Isn’t that interesting to hear the bulk of anger of housing prices is directed towards tech workers!  

CR: Last year the UK introduced a hefty capital gains tax on sales of foreign- owned residential property, but really that move just leveled the playing field between overseas investors and British residents.

Daniel Bentley with the London Think Tank Cevita says the political attitude in London is to really embrace foreign real estate investment. But another conversation is beginning to emerge,  –and that’s the fickle nature of foreign investment in real estate.

Daniele Benltleu: The danger of attracting hot money into London is that when it was good, it was good. Now it might be turning and if people get scared off by that, things can quickly go wrong.

CR: And that’s a discussion that’s starting to emerge in Vancouver too: on the impact on our local economy if foreign investments begin to back out of town.


RC: So it sounds like London and San Francisco are pretty much taking a hands-off approach when it comes to foreign investment. Did you find places in the world that are cracking down?

CR: We've heard on our program people are citing the example of Australia. I spoke to Alison Chung, she’s a real estate reporter for a news court in Australia. She says the debates in cities like Sydney can sometimes take on a racial tone.

Allison Chung: There is a bit of a Chinese community in north Sydney and there was a man who was protesting among them. He didn’t realize there are a lot of local Chinese people living there who have probably been there for the past two to three decades.

CR: Of course we hear that concern in Vancouver, too, about the danger of conflating international investors with Chinese-Canadian residents or new immigrants.


RC: So what’s Australia done then about the actual issue of foreign ownership?

CR: Foreigners are only allowed to buy new properties, hey have to seek official approval to do so, and it costs at least $5000 just to make an offer. But the challenge is enforcing the rule. Last year, Australia stepped up its crackdown on illegal property purchases. Foreigners who break those rules can face up to 3 years in jail and lawyers and realtors can face penalties as well for helping them. Allison told me about a recent high profile case where the government forced a sale of a $39mil mansion that was bought illegally by one of China’s richest men. It showed the government is actually trying. But Allison says agents tell her that many other such sales go under the radar and officials have limited resources to chase down those kinds of transactions.
 

RC: So then is Australia a model that Vancouver should be considering or further investigate?


CR: I had a really interesting conversation with Allison comparing the rules in Australia with those in Canada.

AV: Canada doesn’t seem to have any restrictions or any taxes for foreign buyers. That’s definitely the first step to enforcing some form of regulation, but I wouldn’t say Australia is the perfect model. We’re definitely still struggling ourselves. 
 

CR: So if we do decide foreign ownership is a problem that needs solving here in Vancouver, I’d say Australia can definitely offer some ideas, but also some lessons: there is no perfect solution.


What’s your take on foreign investment in Vancouver? Let us know in the comments!


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REBGV graph Nov 2015


Demand keeps rising for the diminishing supply of homes on the Vancouver market. Despite being a historically slower month, November’s numbers only dipped by 3.3% since October and closed at the highest they’ve been for residential property sales in 9 years, as well as the second highest on record (46.2% above the 10-year sales average). According to MLS®, there were 3,524 sales in Metro Vancouver; a 40.1% increase compared to the 2,516 sales in November 2014.


Working with a realtor has never been so important as it is in the current state of the market. To compete with the high demand and fewer housing choices, fully understanding the options out there is where your realtor is an invaluable resource. “Demand remains strong and there are housing options at different price points throughout the region,” affirms the Real Estate Board of Greater Vancouver’s president Darcy McLeod.


To give you an idea of how this record-breaking month came to pass, here’s November by the numbers:

New Listings (detached, attached, and apartment) for November: 3,392
12.5% increase from November 2014


Total Active listings on MLS®: 8,096
35% decline from November 2014


Sales-to-Active-Listings ratio: 43.5%


Benchmark price for all residential properties in Metro Vancouver is $752,500
17.8% increase from November 2014


Benchmark price for a detached property is $1,226,300
22.6% increase from November 2014


Detached property sales totaled 1,335
31.9% since November 2014 and 44.2% since November 2013


Benchmark price for an apartment property is $435,000
14% increase from November 2014


Apartment property sales totaled 1,553
47.6% increase from November 2014


Benchmark price for an attached unit is $536,600
11.3% increase from November 2014


Attached property sales totaled 636
40.7% increase from November 2014


For a complete comparison, visit rebgv.org. Want to sell, buy, or require a consultation? Contact me today.

 

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


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Whether it’s catching some waves, rays, or whatever adventure is around the next bend, there’s  a beach getaway for every taste.


1. Barbados boasts 60 beaches to choose from. Surf’s up on the east coast whereas true R & R seekers will prefer calmer waters on the west coast. Besides being one of the most sophisticated tropical islands in the Caribbean--dressing up for dinner is an honoured tradition--Barbados offers spelunking and reef diving for thrill-seekers and rum plantation tours for history enthusiasts. There’s also a Food, Wine & Rum Festival mid-November for the foodies. 


2. Tried and true, Hawaii has something new to offer on Oahu’s North Shore. A Courtyard by Marriott has set up shop for easy-access to some of the best stretch of beach on the island. Historically a world-class surfing mecca, the North Shore hosts the world’s premier surfing competitions during peak, winter months. Too much sun (if there’s such a thing), surf, and sand? The Polynesian Cultural Center is close by.  


3. Avoid the bustle of more frequented European beaches for Lanzarote, easternmost of the Spanish Canary Islands, this jewel is steeped in art-based history and known as the Island of Eternal Spring. Host to Europe’s first underwater museum, a perfect homage to artist and architect Cesar Manrique’s birthplace, Lanzarote also features El Diablo; a restaurant atop an active volcano. In case the beach wasn’t hot enough.  


4. Arguably one of Canada’s most famous spots, Long Beach, Vancouver Island is host to pristine beaches, ancient rainforests, abundant wildlife, and indulgent spas. A UNESCO biosphere reserve, Long Beach is also best for storm watching during the winter months; the perfect cozy activity from inside one of the island’s premier resorts, the Wickaninnish Inn.     


5. We’re just heading into peak season at Ngapali Beach, Myanmar. Lasting through March, the “winter” here offers idyllic palm-lined white sand and clear blue water beaches. Off the Bay of Bengal, Myanmar’s premier beach getaway is the get-away-from-it-all spot. Caught between fishing village charm and world-renowned accommodations, Ngapali appeals to sunbathers, peace-seekers, and watersport aficionados alike.

 


Where’s your best beach getaway spot? Share with us!


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4831 ELM Street sold for over $700,000 asking price
In what other city can you attract over 200 people to an Open House on a rain-soaked Saturday, for an old Lot Value house priced at almost $3 million dollars? Got to love the Vancouver real estate market. I'm not sure there really is anywhere else, but if there is, I'd love to know.

But back to our rainy Saturday Open House in the Dunbar neighbourhood. The jam-packed affair even surprised us, and just proves that Vancouver's busy market is relentless.

Our market continues to reach new heights, with 33 foot Lot Value homes now selling well above the $2 million mark. One, in fact, just sold for $2.5 million; $ 500,000 over asking price! 50 foot lots with older homes are now selling at or over $3 million. Looking at a home with a view? Prices are substantially higher yet. In Point Grey, the numbers are even loftier.

It's quite a time here in Vancouver. Home prices have reached stratospheric levels with no pull back in sight. Many of the buyers are “cash buyers" and therefore higher interest rates (when they finally arrive) will have minimal impact on them.

For locals looking to purchase on Vancouver’s West Side, it's looking bleak unless they already own on the West Side, or have the Bank of Mom and Dad helping out with very deep pockets. Home prices make no sense relative to income levels here in Vancouver, unfortunately. It's increasingly a market driven by immigrant buyers with loads of purchasing power.

The majority of these West Side homes that are Lot Value sell with multiple offers where the buyers bring unconditional offers to the table. Gone are the days of 1 week subject to finance or inspection. If you want to be the buyer who gets the property, you almost always have to write a clean offer.

It all amounts to being quite the year (or two!) in our very busy real estate market here in Vancouver. The bright side is, if you’re selling, prices have never been higher or the demand stronger.
 
What are your thoughts on this crazy market? Do you see the bubble bursting any time soon? Please share your thoughts in the comments, we'd love to know! 
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Luxury real estate is rising across Canada along with the rest of the market. Homes priced over $1 million were up in Vancouver, Victoria, Toronto, and Montreal; whereas Calgary saw a decrease by 28% in sales from the same seven month period in 2014. The high demand for luxury homes from foreign buyers and overall price appreciation—driven by low inventory and high demand for single-family homes--factor into this affluent market.


Most of Vancouver’s foreign buyers in the luxury market are families with children who have chosen Canada for its stable economy and high quality of life. Their real estate decisions are based on investment opportunities and proximity to good schools. Favouring new builds with top-quality finishes, they are huge contributors to the market’s impressive gains: 572 properties over $3 million sold between January 1st and July 31st, a 79% gain over 2014.


The luxury condominium market tends to revolve around Baby Boomers who are downsizing in retirement. They tend to be travelers who spend part of their time in a second home, and these $1 million+ condos are chosen for their luxury amenities without the maintenance of a house.


A growing trend in the luxury real estate market is buyers who bypass the MLS system all together and make offers directly to homeowners through their agents. Unlike “For Sale By Owner” sales, the sellers in these transactions are trusting experience agents to get them top dollar.


This reflection of the first seven months in Vancouver’s luxury market is expected to continue through the end of the year for a very profitable—and luxurious—2015.

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