BURNABY / NEW WESTMINSTER Nov 7, 2014 Real Estate Weekly

Looking to BUY or SELL a home? To assist you in making the best decisions, a professional Realtor can provide the most up to date

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What truly is a luxury property? In Vancouver,

a host of super high-end condos are arriving

on the market. So who is buying them, what

are they getting, and – the multimillion-dollar

question – at what cost?

“There is only so much demand, and there

are a limited number of sites where you

can develop a luxury project,” says Scott

Brown, president of Fifth Avenue Real Estate

Marketing. “Those limits drive up the price,

but our market is still relatively cheap com-

pared with London or Hong Kong.”

For Brown, to truly be a luxury development,

a home must meet certain criteria including

a location with a view, generous fl oor space

and glamorous interior fi nishing.

PortLiving CEO Tobi Reyes agrees that luxury

buyers want views, access to water and ame-

nities. “They’re looking for more interesting

design and architecture,” he said.

High End Booming

In mid-September 2014, there were nine

Vancouver luxury condos selling units priced

at over $850 per square foot. The almost-

sold-out Vancouver House has super-luxury

penthouses with record-high asking prices of

over $5,000 per square foot. Then there’s the

audacious Trump Vancouver, currently under

construction in downtown Vancouver with

pre-sales underway.

PortLiving has recently made its fi rst foray

into the luxury market with its new South

Creek Landing development at the foot of

Cambie Bridge. And other recent examples

of include boutique downtown development

Artemisia pictured, the curvilinear Jameson

House and the swanky Three Harbour Green

in Coal Harbour.

Of course, there are diff erent perspectives

about what you get for your cash. Frank

Schliewinsky, author of the Vancouver Condo

Report, says that buyers of the lower-fl oor

units of Vancouver House get “an excel-

lent view of the neighbouring shoehorn

housing and the traffi c, noise and

pollution from Granville Bridge.”

Identifying the Buyers

Despite reality checks like that, the desire

for unique luxury condos is undeniably high.

So who are the buyers fuelling this demand?

That’s a sensitive topic.

“Demand is being fuelled by conspicu-

ous consumption by Chinese buyers trying

to get money out of the China,” asserts

Schliewinsky.

Artemisia sales specialist Monique Davidson

has a diff erent take. Purchasers at this bou-

tique residence have mirrored the overall

luxury sales market. She says, “While pur-

chasers vary from building to building, about

a third are local buyers, another third are

investors collecting trophy residences, and

the fi nal third are international users who will

spend a couple months a year in Vancouver.”

At PortLiving’s South Creek

Landing, an overwhelming

number of the 15 homes have

sold to locals, with only two

or three purchased

by non-Canadian resi-

dents. PortLiving did

no overseas

advertising

and clients

found out

about the

site through

their own

networks.

But Reyes does concede, “That’s atypical

from what I’ve seen. Average sales to off shore

buyers in this market are likely closer to 40

per cent.”

Luxury Outside Vancouver

Given the limited amount of land in

Vancouver, luxury condos are starting to pop

up in other municipalities including Burnaby

and South Surrey. Fifth Avenue is currently

marketing Royce, which off ers breathtaking

views of Boundary Bay.

“Our buyers are wealthy down-

sizers,” says Scott Brown.

About the typical buyer, Brown adds, “No one

can say with certainty where they are coming

from. When you’re that affl uent, you probably

live in multiple cities.”

What does all this mean to more ordinary folks

who want to live in Vancouver? Schliewinsky

remarks that average buyers can forget about

fi nding aff ordable condos downtown unless

they can live in “shoebox” housing.

Adds Reyes, “These buyers are caught in a

cycle of competing for a great location with

end users who can aff ord much more than

they can. [But] I believe there’s a place

for everyone… not every space is going to

become a luxury development. The market

will dictate.”

The High Costs ofLuxuryLuxury CondosCondos

BURNABY NEW WESTMINSTER

R E A L E S T A T E W E E K L Y

FRIDAY, NOVEMBER 7, [email protected] • 604-435-7977

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Most Buyers of Trump Tower Luxury Condos are Local: Trump Jr.

Why It Pays to Shop Around at Mortgage

Renewal Time

BC Housing Startsto Hold Steady in

2015: CMHC

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•2 REW.ca » BURNABY / NEW WESTMINSTER » FRIDAY NOVEMBER 7, 2014

Centre Realty 604.435.9477

Tony Alves604.889.7008

www.tonyalves.ca • [email protected] [email protected]

Teresa Pang604.617.0189

Gorgeous and spacious unit in a very popular Bosa building on Madison, quality building and well managed. A rare large corner unit with very unique floor plan with great views of the North Shore mountains and mount baker, the large balcony off the open and spacious living room dining area makes it ideal for entertaining. Bedroom size den. Very private master bedroom with large walk in closet. Granite counters, stainless steel appliances bright kitchen with a window, two side by side parking spots and a locker, a great suite for buyer’s down sizing but wanting a quality large suite. Excellent location with shopping (Save On), skytrain, restaurants and Brentwood nearby. Must be seen.

#2105 - 2088 MADISON AVE., BURNABY$579,000OPEN

SUN 2-4

1260 sqft

www.normflockhart.com

NORM FLOCKHART(604) 261-7275

Member of 2013 MLS Medallion Club

PREC

$385,000

CITY IN THE PARK! QUIET CUL-DE- SAC!This 2 BR, 2 Bath, top fl oor unit feats new carpets, paint, + kitchen upgrades! Gas fi replace, insuite laundry + exterior storage off large sundeck. 2 Pkg stalls plus Visitor Pkg. Steps to Edmonds Stn + Walking trails. #403-7635 Station Hill Ct.

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208 - 4275 GrangeCentral Park

748 sq ft 1 bedroom condo,roof updated 2014,

piping updated 2012. www.GeorgeGomory.com

$208,000NEW LISTING

304 - 4275 GrangeCentral Park

Top Floor, Professional Updated Throughout, Mountain Views,

roof updated 2014,piping updated 2012

www.GeorgeGomory.com

$299,000NEW LISTING

3756 PeterSuncrest

3 bdrm bungalow on 53x123 lotwith single garage off lane.

Easy to Suite


#40-5988 Hastings St.Capitol Hill

1 bedroom condo with bed-room on upper level... very

cool!www.GeorgeGomory.com

$249,900

1605 - 71 Jamieson CtNew West - Fraserview1457 sq ft sub penthouse

with river views,2 bed, 2 bath, 2 parking.


$499,900NEW LISTING

320 - 10707 139th St.Whalley

Great starter 1 bdrm condo with 616 sf in suite laundry, 1 parking,

1 locker, pets & rentals ok.www.GeorgeGomory.com

$189,000

OPENSUN 2-4

8052 WillardBig Bend

42 x 251 Lotwith 10,793 sq.ft.

awaits.........www.GeorgeGomory.com

$584,000NEW LISTING

42 X 251 LOT SOLDSOLD

#3-5983 Frances St.Capitol Hill

2 bdrm, 1.5 bathroom townhome with 2 parking. Freshly painted +

new laminate on main.www.GeorgeGomory.com

SOLDSOLD

#117 4275 Grange St.Central Park

Yaletown inspired Junior 1 bdrm with nice updates thru-out. 1

parking, 1 locker, + huge patio.www.GeorgeGomory.com

SOLDSOLD302 - 5127 Irving

ForestglenNorth East facing top floor 2 bdrm co-op

apt. with mtn views. Wonderfully updated, 2 blocks from Metrotown,

close to Royal Oak Skytrain.www.GeorgeGomory.com

SOLDSOLD1655 Howard Ave.

Parkcrest1964 Bungalow in original condition with 3 bdrms up on R2 lot (58x123) with lane access backs onto green-

belt. Build your Dream Home!www.GeorgeGomory.com

SOLDSOLD125 - 6588 Southoaks

HighGate1190 sq ft, 2 Bed and Den townhouse with 2 parking

and rooftop deck.www.GeorgeGomory.com

SOLDSOLD

JASON SOPROVICHEXCELLENCE IN THE LUXURY HOME MARKET

604.817.8812

soprovich.com

Magnifi cent Heritage Residence in Buckingham HeightsOriginated in 1892, the ‘Wintemute House’ is Burnaby’s most historical residence offering a one-of-a-kind tranquil setting complete with magnifi cent grounds, stone walls, lush landscaping, Porte Cochere and 5-car garage. This magnifi cent heritage residence is situated on a large 1/3-acre property in the heart of Burnaby’s most sought after and prestigious ‘Buckingham Heights’ neighbourhood. Featuring complete privacy and approximately 5,000 sq. ft. on three sprawling levels, the home offers impeccable quality and fi nishings of yesteryear and has been meticulously maintained with the utmost of care and attention to detail. The bright open fl oorplan features 5 spacious bedrooms upstairs including a sensational master with sitting area, four gleaming bathrooms, spacious living and dining rooms with roaring fi replace, high ceilings with crown mouldings, a wonderful kitchen and eating area, a cozy family/games room with custom woodwork and ceiling detail, a private study with signature fi replace, mullion-paned heritage windows, miles of wainscoting, an elegant formal entrance and rich hardwood fl ooring – all opening through French doors to a gorgeous sunfi lled wrap-around veranda. Additionally, the home offers a crescent driveway, full basement, ample storage and sizeable attic thatcan be used as an extra guest bedroom or playroom for kids. Minutes to all local amenities including Malvern, Braemar and Buckingham Parks. This exclusive estate can be yours today! PLEASE NOTE - The home is designated under the Heritage Act with The District of Burnaby and requires City approval before any exterior renovations or demolition is executed.

7640 Berkley Street, Burnaby Offered at $2,198,000

Prudential Sussex Realty - Jason Soprovich

An independently owned and operated brokermember of The Prudential Real Estate Affi liates, Inc.

For Major ChangeCity Election Vancouver

VOTE & SUPPORT 4 Your Future

RAJ GUPTASchool Trustee

Financial Agent Raj [email protected]

Children are the Future

Education First

Langara College change to University

RAJIV PANDEYCity Councillor

Financial Agent Rajiv [email protected]

Major Changes:• Property Taxes Cut • Transit Fares Cuts• Multifamily Zoning• Housing & Shelters• Traffi c & Tourism• Planning & Budgets• Healthy & Safer City !!

MATT KADIOGLUParks Board

Financial Agent Matt [email protected]

• Healthy Citizens Healthy Country

• All parks Health Facilities free

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REW.ca » BURNABY / NEW WESTMINSTER » FRIDAY NOVEMBER 7, 2014 3•

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To assist you in making the best decisions, a professional Realtor can provide the most up to date information on the real estate market, price, fi nancing and comparative properties in your area.

Find your expert Real Estate professional right here in REW.ca!

LOOKING TO BUY OR SELL A HOME?

For Change Nov. 15th 2014

RAJ GUPTAMAYOR Candidate

BURNABYRaj Gupta stands for you and Major Changes• Transit & Student Bus Fare • Reduce Burden on Tax Payers• Building Permit Costs • Green Signal for Gas Pipe Line• City Planning & Budgets• Healthy Economy & Smarter Spending• Create Jobs & Businesses Benefi ts• Real Estate, By-laws & Zonings• Traffi c, Transit & Tourism• Seniors Housing & Homeless Shelter• Roads, Routes & Free Hospital Shelter• Policing, Safer Community & Justice• Manage Parks & Schools• Better City & Communities

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[email protected] www.gurjinderbhurji.com14633 84A Avenue, Surrey

A family home located in quiet Green Timbers area. Walk-ing distance to Elementary and Secondary schools plus

public transit. Minutes drive from shopping center and parks. Four spacious bedrooms upstairs. Main living area also has a den. Well maintained clean home. Updates include windows, roof, hot water tank, laminate fl ooring, tiles and carpet and paint. Double car garage. Please give 24 hrs notice to view.

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1051 Ewson St, White RockBeautiful Three Year old home in heart of White Rock. Water and Mountain views from Main and Up-per levels. High end Kitchen with Granite countertops, stain-less steel appliances, Hardwood fl ooring

throughout the home. Enjoy the natural lighting throughout the Up-per level. Main fl oor has master bedroom plus three other bedrooms all with ensuite washrooms, and a Den for offi ce work. Basement has two Bedroom legal suite with good rental income. Barbeque on a huge open deck with ocean views in the back. Close to Peace Arch Elementary and Earl Marriott High school. Shopping and Beach closeby. Seller will look at trade options.

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Asking $1,795,000

15807 Buena Vista Ave, White RockNEW REDUCED PRICE! GST INCLUDED! Beautiful White Rock home built in 2013. Total of 5 Bedrooms plus an Offi ce consists of over 4100 sqft of elegant living space. A spacious main entry with an Offi ce/Den and 2 Bedrooms with large closets and

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Homelife BenchmarkRealty CORP.

6323-197th St., Langley, B.C. V2Y 1K8www.homelifebc.com

George HarperGeorge Harper604-530-4141604-530-4141

1.43 ACRES WEST CLAYTON2560 BSMT HOME

Located on no thru street in designated dev. area with 2 road frontages on 1.43 acres. 4 bdrm bsmt home on city water.

GEORGE HARPER 604-530-4141

$1,500,000NEW LISTING

2 HOMES CORNER PROPERTY

Corner property only 5 min drive to centre of Murrayville. Main home is 4100 sqft rancher set in middle of property screened from road for max privacy. Second home is 3 bdrm old style farm house. Gentle sloped property with view of North Shore Mountains fully useable acre-age. No ravines. Rare to find such a large parcel so close to all amenities.


$7,360,000106 ACRES, 2 TITLES

CAPE COD 4/5 BDRMS ON 5.38 ACRESCENTRAL LANGLEY - 30 X 40 FT 8 STALL BARN

3700 sqft Cape Cod style home. 4 baths, 5 bdrms, office on main floor with new 1500 sq ft sun deck at rear overlooking landscaped pond area. All new bathrooms, recent new flooring and stain-less appliances. Open plan kitchen and family room area. Large formal dining perfect for entertain-ing. 8 stall barn, circular driveway. Country living yet only 10 min to Central Murrayville amenities.


$1,099,000

SOUTH LANGLEY 3 LEVEL HOMESituated on no thru st. with private rear yard and extra large patio area back-ing onto private lake perfect for entertaining. 4/5 bdrm custom home with 3/4" hardwood flooring on main, Satillo tile entrance way, high end stainless appliances, granite counters, walk in pantry, big master with huge ensuite, new light fixtures. 2 yr old roof, fully fin. bsmt with sound proofed music room, large double garage with workshop area plus RV parking at side. Totally landscaped with tiered garden down to the lake. Easy walk to shop-ping. Campbell Hiking Trails. Easy drive to White Rock or downtown Langley. GEORGE HARPER 604-530-4141

LAKEFRONT LIVING NOT THRU ST $995,000

2 STOREY WALNUT GROVE CUL-DE-SACSOUTH FACING 8600 SQ.FT. LOT

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$559,900Nestled at the end of a quiet cul-de-sac in super convenient location for schools, shopping and highway one freeway access. Really private sunny rear yard. Recent new roof and flooring throughout. 3 bdrms, 2 1/2 bathrooms, 2 fireplaces. Excellent family home in excellent area.


1600 SQFT RANCHER 7050 SQFT LOTNORTH SURREY LOCATION

$529,900Located on corner lot with lane access at rear to extra wide attached double garage plus private patio area. Same owner for 25 years. Home has been maintained to high standand, oak plank flooring in living room. Recent carpeting and roof. 2 full baths, 2 fireplaces. Move in condition. Easy access to Guildford Shopping and Highway One. First time on market.



TOP 2.5% OF GREATER VANCOUVER REALTORS®

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GRAND OPENINGSUNDAY NOVEMBER 9TH 1pm - 4pm

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I TAKE PRIDE IN PROVIDING HIGH END SERVICE TO MY CLIENTS…

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604.534.6000 cornerstoneliving.caSales Centre and three fully-furnished Display Homes 56th & 210A St, Langley | Open daily (closed Friday) from 12 to 5 pm.

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6 HOMESUNDER$200,000FINAL COUNTDOWN!

NET GSTINCLUDED


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SPACIOUS & EXCEPTION UNITPopular concrete building in Arbutus Village. Large patio facing the garden. Well maintained. Shows well. Large locker 3 parking spot. A nice place to come home to. 104 - 4101 Yew St.

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$669,000

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$699,000

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Mrs. Smith604.123.4567

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Marcon Regan Homes Ltd.604.492.0222 REGANSWALK.CA

SALES CENTRE + DISPLAY HOME Burquitlam Plaza, 408 – 552 Clarke Rd., Coquitlam. Open Daily Noon – 5pm (except Fridays)

Prices correct at press time and are subject to change without notice. E.& O.E.


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PRESENTATION CENTRE: 702 COLUMBIA STREET, NEW WESTMINSTEROPEN DAILY 12-5PM, CLOSED FRIDAYS OR BY APPOINTMENT

TAILORED KITCHENW

ITH BREAKFAST BARSHAW

1 YEAR INTERNET + CABLE + DVR FOR FREE!

5 PIECE DESIGNERAPPLIANCE PACKAGE

SLIDING GLASS WALL

PANELS FOR FLEXIBLE LIVINGW

IDE-PLANK LAMINATE

FLOORING THROUGHOUTPORCELAIN TILE FLOORSAND TUB SURROUND

FLOOR-TO-CEILING WINDOW

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*Some conditions apply, please ask a sales representative for m

ore details. Pricing, sizing and availability are subject to change. Renderings and photography are approximate only. The developer reserves

the right to make changes to the inform

ation contained herein without notice. E.&O.E.



above&

beyondIntroducing The Windsor, the newest

residences at Polygon’s exclusive Windsor

Gate community in Coquitlam Town Centre.

A collection of two-bedroom concrete high-

rise homes with views of the surrounding

mountains and neighbouring Glen Park,

The Windsor rises dramatically from the

tree-lined streetscapes below while still

being conveniently close to SkyTrain,

Coquitlam Centre and lively cultural venues.

Two-bedrooms priced from $324,900

31 SOLD LAST MONTH

3096 Windsor Gate, CoquitlamOpen Noon to 5pm (except Friday)Telephone: 604.941.8305Email: [email protected]

F R I D A Y , N O V E M B E R 7 , 2 0 1 4BURNABY • NEW WESTMINSTER

Looking for a newhome? Start here.

I n P r i n t > O n l i n e > I t ’ s A l l H e r e

R E A L E S T A T E W E E K L Y

After years spent looking at homes all over the Lower

Mainland, Cindy and Francis Canosa fi nally found the

home that ticked off all of their wish list.

“We’ve been looking for a townhouse or a single

family home for three years and we just couldn’t fi nd

exactly what we both liked,” says Cindy Canosa, who

adds they are fi rst-time home buyers.

For the couple in their forties, a regular garage,

rather than a tandem one, was an absolute must. They

found that and much more at One44 in the sought-after

Panorama neighbourhood in Surrey.

“Because my husband and I work diff erent shifts, a

tandem garage just wouldn’t work for us,” she adds.

“We also loved One44’s open fl oor plan, the nice deck

and that it’s in a quiet neighbourhood.”

Meanwhile, it was also important to the couple to

have a large enough living and dining room for their

large extended family and frequent out-of-town guests.

“We are from the Philippines and we love to enter-

tain family and friends, many of which stay with us

frequently,” she adds. “So any house we bought had to

have four good size bedrooms, which it does … I also

love the number of bathrooms we have.”

The couple’s sentiments are echoed often, says

Sherry Scott, sales manager at Vesta Properties.

“Many of our buyers tell us the same thing,” adds

Scott. “They also tell us that they like the large foyers

which are rare in townhomes – typically you walk right

into a staircase and our homes not only off er an area for

you to drop your groceries and organize your shoes, but

also a full sized coat closet!”

Ray Dietz, senior marketing manager for One44 went

on to add: “Prospective buyers have plenty of options

to choose from including diff erent garage layouts, fl oor

plans with dual ground-fl oor entries perfect for a home

offi ce or guests needing extra privacy.”

Vesta Properties Ltd.’s One44 is a collection of 138

spacious contemporary residences, ranging from 1,350

to 1897 square feet. This quiet townhome master-

planned community is atop the crest of 144th street,

adjacent to an environmental reserve and anchored by

old growth trees. Many homes back onto green space

with bench lined trails dotted with picturesque pergo-

las and landscaped gardens – a true quiet oasis.

“Buyers love the fact that most of the homes back

onto a protected nature trail – we can really call each

home a parkside home,” says Scott, adding that more

than 50 per cent of the homes are sold.

One44 off ers a selection of two-bedroom +den (or

fl ex room), three bedroom+ fl ex, three-level homes dis-

tinguished by modern culture stone columns, rear bal-

conies and patios and private fenced front or backyard.

Each resident will have access to a private 4500

square foot amenity space, featuring a fi tness studio

with weights and equipment, meeting room and a

lounge with television, kitchenette and wrap around

deck for entertaining guests and community gatherings.

Award-winning Vesta Properties has nearly three

decades of experience in building quality residential

enclaves in both B.C. and Alberta. They have built

more than 3,500 homes, ranging from entry level town

homes to executive-style single family homes in over

40 award-winning neighbourhoods.

With prices starting at $295,500, the remaining

homes won’t last long. The One44 presentation

centre and showhome are located at #22 5888 144th

street, Surrey, are open Saturday to Wednesday from

1 to 5 p.m.

For more information, call 604.503.6402, email at

[email protected] or visit www.liveatone44.

com. Tentative occupancy: Some are move-in ready,

with a hand full being released in the New Year.

SPACE DOESN’T FALL SPACE DOESN’T FALL SHORT ATSHORT AT ONE44 ONE44

Documents

BURNABY / NEW WESTMINSTER Nov 7, 2014 Real Estate Weekly