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Since 1978 Real Estate Weekly has been synonymous with outstanding coverage of the Greater Vancouver residential real estate market. Today, published with recycled newsprint from its own high-speed presses in Vancouver, Real Estate Weekly is delivered by British Columbia's largest courier force to over 210,000 homes across the Lower Mainland. A total of 5 separate editions comprise the Real Estate Weekly, each featuring homes for sale, new developments and quality editorial coverage of the housing industry and the communities. Real Estate Weekly, quite simply, lists more homes for sale from more Realtors than any other publication in British Columbia. Real Estate Weekly is the number one source for Lower Mainland residential real estate and the first choice of both homebuyers and Realtors for more than three decades.
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BURNABY TRI-CITIES WEDNESDAY, JANUARY 20, [email protected] • 604-435-7977
R E A L E S T A T E W E E K L Y
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 information on the real estate market, price, fi nancing and comparative
properties in your area.
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BURNABY TRI-CITIES WEDNESDAY, FEBRUARY 17, [email protected] • 604-435-7977
R E A L E S T A T E W E E K L Y
GO TOREW.CA /NEWS
TO READ THESE STORIESAND MUCH MORE REAL ESTATE
NEWS AND ADVICE
How to ProtectYour Home Sale from“Shadow Flipping”
Two Cities Outsidethe Lower Mainland to Consider Investing In
Editorial: The Difference Between Price and Worth
in Real Estate
Just as people inevitably judge a book by its cover, consumers can be signifi cantly infl uenced by the name what they are
buying. This is equally true in real estate developments, where sometimes the pendulum of public favour can swing at light speed in a new direction, based solely on changing perceptions of a name or brand. And yes, we’re referring to last year’s storm surrounding Trump International Hotel & Tower Vancouver.
Inspiration for the Perfect NameFortunately for marketing companies,
most residential development names aren’t this contentious, although fi nding the perfect one can still be challenging.
Often a site’s topography, history, even address can provide an answer. RDG Management found a winning name by combining one site’s location adjacent to a forested ridge with its much-loved heritage as one of the city’s original pioneering farms – and The Ridge at Bose Farms was born. Now nearing completion in Vancouver, MC2’s name came about when someone suggested its location at the corner of Marine and Cambie was like Einstein’s famous equation. And in Coquitlam’s Maillardville neighbourhood, translating the street name, Blue Mountain Highway, into Mont Bleu created a standout memory point with a
nod to the community’s French Canadian heritage.
Sometimes inspiration comes from considering lifestyle. In Chinatown, Porte Communities realized their primary demographic would be “active and defi nitely a bit outside the box,” as Jeanette Chaput, director of marketing and sales, puts it. Ginger’s reputation as a spicy component of Asian cuisine refl ected this perfectly.
The Creative ProcessTypically, though, naming a building
or community begins with brainstorming. Here’s when the developer, sale and marketing gurus toss their wildest, most
creative ideas into the proverbial hat. Scott Brown, president of Fifth Avenue Real Estate Marketing, notes it’s common for 20 or more suggestions to be on this preliminary list.
First-round cuts usually involves eliminating names that are overused, overly obscure, or trying too hard. Some will fail what Brown describes as the “snicker test” – words that if mispronounced become a joke, often one that’s in bad taste. Then there are names with a pre-existing negative connotation. “Three or four years ago, using Whalley in a name would have been a mistake. Now the area’s been rebranded, though, that
could be a good thing.”
Keeping it SimpleAfter being involved in naming
hundreds of projects over his more than 25 years in real estate, Brown says 3 Civic Plaza in the emerging Surrey City Centre neighbourhood was one of the most diffi cult to brand. “We had almost 50 names on the table at one point,” he says.
“Having the lobby of a residential tower open directly onto a public plaza like this is rare, so we knew we wanted ‘plaza’ in the name. Then we looked at the fact that since its two neighbouring towers would both be civic buildings – a public library and Surrey’s new City Hall – this would be the third place-maker in a civic, community-oriented space.” Finally, the name selection had become obvious.
Brown says sometimes it seems as if developers spend more time naming their buildings than they do naming their children, but tells how one developer turned that to an advantage. Although at fi rst glance Teo and Reef by Alpha Beta Developments might seem unrelated, a family picnic would reveal both are names of the developer’s grandchildren. With a current total of seven grandchildren, it seems unlikely he’ll run out of inspiration in the foreseeable future.
What’s in a Name? How Developers Choose a Building’s Moniker
The Creative ProcessTypically, though, naming a building
or community begins with brainstorming. Here’s when the developer, sale and marketing gurus toss their wildest, most
connotation. Three or four years ago,using Whalley in a name would have beena mistake. Now the area’s been rebranded,though, that
The Ridge at Bose FarmsThe Ridge at Bose Farms
3 Civic Plaza, Surrey3 Civic Plaza, Surrey
•2 REW.ca » BURNABY / TRI-CITIES » WEDNESDAY FEBRUARY 17, 2016
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•4 REW.ca » BURNABY / TRI-CITIES » WEDNESDAY FEBRUARY 17, 2016
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REW.ca » BURNABY / TRI-CITIES » WEDNESDAY FEBRUARY 17, 2016 7•
•8 REW.ca » BURNABY / TRI-CITIES » WEDNESDAY FEBRUARY 17, 2016
N
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n St.
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Highland Dr.
Bishop Place
Hadley Wood
Sheffield Ave.Princeton Ave.
Galloway Ave.
David Ave.
Lougheed Hwy.
Co
ast Merid
ian Rd
.
CoquitlamCentre
BURKEMOUNTAIN
SALES CENTRE
3507 Hadley Wood, Coquitlam | 604.475.8500
THIS PORT MOODY NEIGHBOURHOOD WILL BE SOLD FROM MORNINGSTAR’S
SALES OFFICE IN COQUITLAM.
mstarhomes.com
NOW SELLING
PORT MOODY VIEW HOMESThis is an artistic conceptual rendering based on current development plans
which are subject to change without notice.
8
REW.ca » BURNABY / TRI-CITIES » WEDNESDAY FEBRUARY 17, 2016 9•
•10 REW.ca » BURNABY / TRI-CITIES » WEDNESDAY FEBRUARY 17, 2016
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REW.ca » BURNABY / TRI-CITIES » WEDNESDAY FEBRUARY 17, 2016 11•
BURNABY • TRI-CITIES
Looking for a newhome? Start here.
R E A L E S T A T E W E E K L Y
I n P r i n t > O n l i n e > Y o u r c o m p r e h e n s i v e s o u r c e f o r l o c a l r e a l e s t a t e n e w s a n d l i s t i n g s
W E D N E S D A Y , F E B R U A R Y 1 7 , 2 0 1 6
Vancouver’s New Home Prices Continue to Quicken Growth: StatCanMetro Vancouver’s new housing
price index increased again in December, further accelerating
its pace of annual growth compared with the previous month, according to Statistics Canada data released February 11.
The price of a new home in the Vancouver Census Metropolitan Area (CMA) increased 2.6 per cent year over year in December 2015 – the third-high-est annual rate of growth in the coun-try, after Toronto–Oshawa and Hamilton CMAs, as has been the trend for the past few months.
Month over month, new home prices in Vancouver rose 0.2 per cent com-pared with November’s fi gures – a com-paratively modest rise after seeing the country’s steepest monthly increases in Novemver. In December, the biggest con-tributor to Canada’s overall monthly new home price rise of 0.1 per cent was again Toronto–Oshawa.
Across BC, new housing prices rose 2.3 per cent year over year – once more the country’s second-biggest rise, after Ontario – and 0.2 per cent month over month.
Victoria CMA’s new home prices con-tinued to slide in December, yet again down 0.5 per cent compared with the same month last year and fl at compared with the previous month. As has been
the trend for many months, Victoria was one of just seven CMAs to record an annual new home price decrease in December, out of a total of 21 CMAs surveyed.
Increases in new home prices often do not refl ect those seen in the resale market, as the price paid for a new home is only measured when the transaction is completed and registered with the Land Registry, rather than when the home is originally purchased off -plan. Because of long lead times on home construction, the new home prices registered today are those homes sold many months or even years ago – whereas MLS® resale home prices are much more up to date.
The news came a few days after the CMHC reported that Vancouver Census Metropolitan Area (CMA) new home con-struction starts were trending at 20,790
units in January 2016 compared with 21,659 units in December 2015. The trend is a six-month moving average of the monthly seasonally adjusted annual rates of housing starts.
In the same week, Statistics Canada published its monthly building permit fi gures, which suggested the drop in local housing starts will not last for long, especially in the multi-family sector.
Vancouver home building permits issued in December 2015 were valued at a total of $558 million, a rise of 98 per cent compared with the previous December, according to the statistics agency.
This near-doubling of values was led by another leap in condo-apartment building permits, which soared 171 per cent year over year to $376 million.
Single-family homes made up just shy of $114 million of December’s permit value in Vancouver, and $63 million was invested in townhomes and row homes.
