the thirties grind

Foreign Investment in Vancouver’s Real Estate Market: free event at SFU Woodward’s

March 20, 2013 | 7:00 – 9:00 PM

Free, but registration is required.

Djavad Mowafaghian Cinema, Goldcorp Centre for the Arts

Presented by SFU’s Vancity Office of Community Engagement and the SFU City Program

In Vancouver, there has been a lot of speculation about the impact of foreign investment on our real estate market.  Evidence has been limited.

So does such an issue exist?  What are the facts?  How does foreign investment impact affordability, if at all?

What are other jurisdictions doing?  What public policy interventions would make sense, if any?

These will be some of the questions discussed by our panel, moderated by Tyee editor David Beers:

Andy Yan, BTA Works
Tsur Somerville, UBC’s Sauder School of Business
Sandy Garrosino, Independent City Council Candidate
Richard Wozny, Principal, Site Economics Ltd.

Register here.

The Thirties Grind guest spot on The Home Discovery Show, CKNW

Yesterday, I had the pleasure of joining host Ian Power on CKNW’s The Home Discovery Show, where we talked about The Thirties Grind and, of course, Absurd Vancouver Properties.

You can listen to the podcast of my segment here.

Thanks for having me on, Ian!

Absurd Vancouver Property (March 14, 2013)

I feel like $4 million is a good amount of money to spend on a luxury home…That kind of money affords one a certain kind of lifestyle, I would assume (I have to assume because I don’t actually know!).

In Georgetown, Washington, $4 million buys you this mansion, which formerly housed the Field School (a distinguished prep school):

Photo by Beasly Real Estate

Read more…

Vancouver Real Estate: The bulldozer cometh…and the creme de la creme of Vancouver don’t like it!

I read a recent article in the Globe and Mail about a Kerrisdale resident who is sad and outraged about the number of houses in her neighbourhood that are being knocked down and rebuilt into gargantuan homes which, according to her, just sit empty.

Well, no kidding, lady!  The only people who can afford to buy houses in your neighbourhood are speculators and builders who are, of course, going to flatten any older home in order to maximize the size of house they can put on the lot and then sell.  That’s business…and, like it or not friends, that’s Vancouver real estate. Read more…

More Laneway Houses for Vancouver: pilot project extended to all single family zones

A report in BC Business gives cause to believe that there are going to be many more laneway house developments happening throughout the city.

While originally six per cent of single-family housing zones were not eligible for laneway houses, this updated program will include all single-family zones in the city.

This means that every single family zoned neighbourhood will likely have laneway homes nestled in them over the coming years.  My prediction has always been that, eventually, the city will allow homeowners to sub-divide and strata title their lots…therefore, being able to sell their laneway home for massive profit.  I believe they cost about $200-300K to build.  However, if you were able to turn around and sell that laneway home in today’s market you’d be laughing all the way to the bank.

What are your thoughts about laneway homes?

Absurd Vancouver Property (March 6th, 2013)

We got a little glimmer of sun here in Vancouver this weekend…and that glimmer was all it took to get me dreaming about warmer days that are coming soon (but not soon enough!!).

To tie me over, I thought I’d look at properties in places where the sun shines almost all the time.

Places like Scottsdale, where for $1.7 million you could live in this 5000 square foot getaway:

4 bedrooms, 4 bathrooms, chef’s kitchen and sun. Every. Single. Day. Read more…

My must see Vancouver open houses (March 2, 2013)

For those looking to buy a home in Vancouver, the season of spending every weekend getting in and out of your car and trudging through open houses has begun.  I secretly loved this process when we were looking for our home, particularly the voyeurism of it – some homes were absolutely pristine and perfectly staged, while others were a den of hoarding, disrepair and grime.

Thank goodness I don’t have to go looking at open houses, but if I did, these are the ones I’d want to check out this weekend.  Not necessarily to buy (I couldn’t afford most of them), but just to see a little bit more than what the images show (you can click on the photos to view the listings).

Located in the heart of Kitsilano, this home has 3 bedrooms and 2.5 bathrooms.  It is the “garden level” suite in this heritage conversion…I’d want to see it just to know what a $700K basement apartment looks like up close. Read more…

Absurd Vancouver Property (February 28, 2013)

I was informed that there was an inaccuracy in last week’s Absurd Vancouver Property.  Apparently, the photos I showed were merely “artists” renditions that had been placed in the online listing by the agent.  Guess in a slow market, you do what you gotta do.  Although, I can’t imagine why the prospect of a home that looks like Sigfried and Roy barfed all over it would appeal to any buyer…

I can do better than this. I’m going to show you a “rendition” of what this week’s property could look like.  It’s located in East Vancouver and, by Vancouver standards, is a bargain at $550K.

A little (okay…a lot) of elbow grease, and you could have the home of your dreams… Read more…

Absurd Vancouver Property: Canada’s most expensive home…the “Vancouver Versailles”

The second most expensive mansion to ever be listed in Canada is situated in, you guessed it, Vancouver.  Well, West Vancouver to be precise.

At $37.9 million, the home is being called a complete “tear down” with value only being in the land.

I can’t imagine why…it’s just so gorgeous!!

Read more…

Absurd Vancouver Property (February 7th, 2013)

Well (*claps hands and rubs them together*), things should be getting fired back up again after the Christmas slump in Vancouver Real Estate.

Prices are taking a bit of a dip, however.  Wonder what $1.3 million will get you these days.

In LaLa Land, you can scoop up the former home of American Idol contestant, David Cook:

The 3,000 square foot home features a recording studio, customized yard and a spectacular view of the Hollywood sign. Read more…