IN THIS ISSUE:
• Decor and right-sizing partners in moving
• Cruise ships in the Inlet…21 of them in August
• News: real estate census and analyses
• Statistics: more level playing field for buyers, sellers
• Lots to do in the Lower Mainland this month
Decor: right-sizing a door to new opportunities
11th in a Series
Every month, News From Nexus features ideas or observations about Decor, or ways you can make your home more appealing.
Perhaps the most radical decor idea is to change almost EVERYTHING. That’s right, pretend your home is pretty much empty and cherry-pick only the items — be they furniture or artwork — that you really want to keep.Another term for it might be “right-sizing”…or outfitting a home so that it suits your current lifestyle. Lots of people do just that when the kids have grown and moved on, and the house suddenly seems too big for who’s left. The reality is, moving into a smaller space is frequently a liberating experience, with an emphasis on economic and lifestyle benefits.
Often this means selling the place that has been home for decades and buying something smaller, or more suitable, and more modern. As soon as you mention “modern”,
it’s logical that everything from the old home won’t make it to the new home.
Once you have decided which “treasures” are musts, you can proceed to outfit your new home to fulfill a function rather than fill a space. Prioritize your life and only buy what's necessary. Living smaller, and newer, means a chance to create your own decor with everything from paint to furnishings to finishings.
There’s a theory that a smaller home can be a happier home, as well as one that’s more economical. Reducing your living space means savings on heating in the winter and cooling in the summer. That means reducing your family’s carbon footprint, perhaps enhancing it with energy-saving appliances, doors and windows. And how about savings on taxes, maintenance and cleaning?
It can free up funds to be used for other things — like investing, travel and entertainment. All of that isn’t a given, of course, because it may depend on how new is “new.”
In any event, it’s a fresh start in a fresh setting and, because you may have some extra financial resources after selling the family home, you may also have the opportunity to splurge on key furniture pieces or window coverings, or even a “decor consultant.”
And yes, it’s almost certain to deliver a bonus: disposing of clutter after making three lists: keep, discard, re-evaluate. The secret to success is to keep the “keep” pile the smallest!
There’s a theory that a smaller home can be a happier home, as well as one that’s more economical. Reducing your living space means savings on heating in the winter and cooling in the summer. That means reducing your family’s carbon footprint, perhaps enhancing it with energy-saving appliances, doors and windows. And how about savings on taxes, maintenance and cleaning?
It can free up funds to be used for other things — like investing, travel and entertainment. All of that isn’t a given, of course, because it may depend on how new is “new.”
In any event, it’s a fresh start in a fresh setting and, because you may have some extra financial resources after selling the family home, you may also have the opportunity to splurge on key furniture pieces or window coverings, or even a “decor consultant.”
And yes, it’s almost certain to deliver a bonus: disposing of clutter after making three lists: keep, discard, re-evaluate. The secret to success is to keep the “keep” pile the smallest!
The upsides of right-sizing are many, and starting a new chapter can bring endless opportunities.
Why home ownership matters in Canada
Why buy? Why get into a real estate market that is always a big step personally and financially?
What follows is a somewhat-typical chronology of home ownership. From early adulthood to later adulthood, the journey and buying and selling homes can be fluid, to say the least. While it’s not for everybody, it is for two-thirds of Canadians, according to surveys which had home ownership peak at about 70 per cent a few years ago.
So, a young couple takes that first step of living together and sharing everything, including the mortgage. It may be something of a dream come true, it may be a
confidence builder, it may make for a good investment, or all of the above. The home suits them until…
Children. The arrival of little ones frequently leads to a new, or different home. Space is a factor, of course, and the number of little ones often dictates how many times this will happen…extra bedrooms for the kids, a bigger kitchen to prepare their meals, etc.
The years pass, the kids become adults and start down their own road of financial independence. The parents need less space, perhaps have more equity and likely have more freedom. It’s moving time again.
They typically will become renters or buy a smaller house, leaving them with more disposable income.
That’s one typical progression.
Of course, there are certain to be pros and cons. For years, they have been masters of their “castles” and able to do whatever they want — nobody tells them what colour to paint this or how to do anything pertaining to their “own turf.” If they’ve stayed in the same community, there may have been social benefits.
Ideally, the home has represented stability, independence and freedom of reaching adulthood, as well as being an equity-builder that becomes a ready-made savings plan. More often than not, home ownership is dependent on sustainability. It’s important for home owners to be able to afford not just the payments, but also the taxes and maintenance and repairs. It’s also important not to be so house-poor that it impacts on expected leisure activities.
Home ownership can be a good idea that, like all good ideas, doesn’t come with a guarantee.
So, a young couple takes that first step of living together and sharing everything, including the mortgage. It may be something of a dream come true, it may be a
confidence builder, it may make for a good investment, or all of the above. The home suits them until…
Children. The arrival of little ones frequently leads to a new, or different home. Space is a factor, of course, and the number of little ones often dictates how many times this will happen…extra bedrooms for the kids, a bigger kitchen to prepare their meals, etc.
The years pass, the kids become adults and start down their own road of financial independence. The parents need less space, perhaps have more equity and likely have more freedom. It’s moving time again.
They typically will become renters or buy a smaller house, leaving them with more disposable income.
That’s one typical progression.
Of course, there are certain to be pros and cons. For years, they have been masters of their “castles” and able to do whatever they want — nobody tells them what colour to paint this or how to do anything pertaining to their “own turf.” If they’ve stayed in the same community, there may have been social benefits.
Ideally, the home has represented stability, independence and freedom of reaching adulthood, as well as being an equity-builder that becomes a ready-made savings plan. More often than not, home ownership is dependent on sustainability. It’s important for home owners to be able to afford not just the payments, but also the taxes and maintenance and repairs. It’s also important not to be so house-poor that it impacts on expected leisure activities.
Home ownership can be a good idea that, like all good ideas, doesn’t come with a guarantee.
The fact that two-thirds of Canadians are home owners is, at least, an endorsement.
Watching for cruise ships in August
There will have bene 21 ships from 13 cruise lines in Vancouver by the end of the month, and having a look at them is as easy as checking out the complete list on this website. Fans of specific cruise lines will be interested to know there will be more Holland America ships (4) sailing under the Lions Gate Bridge this month than any other line, followed by Princess Cruises (3) and then Celebrity, Royal Caribbean and Silversea, each with two ships visiting Burrard Inlet. Check out the arrival and departure times for all the visitors, plus a link that tells you more about each ship.
What’s in the news this month
One home with multi generations on the rise
There will soon be one million multi-generational Canadian families living under the same roof. That’s seven per cent of all the country’s inventory. The number of homes shared by multiple generations of a family, two or more families, or one family living with unrelated individuals has grown by 45% the past 20 years. This census data is from research conducted from October to December last year.
StatsCan analysis: Vancouver tops non-resident home owners
Vancouver has more non-resident home owners than six other major metropolitan regions analyzed by Statistics Canada. Non-residents (Canadian citizens and non-citizens living outside Canada) own 4.2 per cent of Vancouver’s homes. By comparison, 2.7 per cent of Toronto’s home owners live elsewhere. Percentages for the other five regions, based on 2020 statistics, are: St. John’s 2.7, Halifax 2.4, Moncton 1.7, Manitoba 1.5 and Yellowknife 1.4.Victoria real estate showing signs of pre-COVID normal
In reacting to the news that Victoria is considered the greenest “small city” in Canada, the city’s real estate board pointed out that real estate life in Greater Victoria is returning to normal for the first time in two years: “While inventory is still below historical levels for a spring market, it’s now within our pre-pandemic five-year average, which is good news for buyers.”
Buyers experiencing more choices, more time
The current financial climate is affecting the real estate market in three ways:
1. The inventory of homes for sale is gradually increasing.
2. The overall prices of homes is gradually decreasing.
3. Sales are slowing.
Statistics for July, released by the Real Estate Board of Greater Vancouver, indicate — in general — that’s the impact which is being felt throughout Metro Vancouver. Accompanying the monthly report was this commentary:
“Home buyers are exercising more caution in today’s market in response to rising interest rates and inflationary concerns. After two years of market conditions that favoured home sellers, home buyers now have more selection to choose from and more time to make their decision. In today’s changing housing market, both home buyers and sellers should invest the time to understand what these changes mean for their personal circumstances.”
As usual, the statistics do not necessarily apply to every market within the Lower Mainland. They represent an overall impression of the entire area and should be analyzed as such. In many markets, the drop in home prices is best described as “softening” or “drifting.” That’s somewhat different than the statistics in general.
For example, the REBGV reports that July sales throughout Metro Vancouver were 35.2 per cent below the 10-year average, down by 43.3 per cent compared to the previous July and 22.8 lower than the homes sold in June 2022.
The ongoing and fundamentally important issue in any statistical analysis is the number of listings, even as interest rates and other factors are changing. The number of
“Home buyers are exercising more caution in today’s market in response to rising interest rates and inflationary concerns. After two years of market conditions that favoured home sellers, home buyers now have more selection to choose from and more time to make their decision. In today’s changing housing market, both home buyers and sellers should invest the time to understand what these changes mean for their personal circumstances.”
As usual, the statistics do not necessarily apply to every market within the Lower Mainland. They represent an overall impression of the entire area and should be analyzed as such. In many markets, the drop in home prices is best described as “softening” or “drifting.” That’s somewhat different than the statistics in general.
For example, the REBGV reports that July sales throughout Metro Vancouver were 35.2 per cent below the 10-year average, down by 43.3 per cent compared to the previous July and 22.8 lower than the homes sold in June 2022.
The ongoing and fundamentally important issue in any statistical analysis is the number of listings, even as interest rates and other factors are changing. The number of
listings is what sustains market activity, and it varies from micro-market to micro-market. The state of the market is not really as simple as the statistics indicate. So that's something else to keep in mind, and something that will be addressed in more detail in a future issue of News From Nexus.
While new listings are down (on MLS) compared to July 2021 and June 2022, the total number of homes for sale last month was up 4.4 per cent over a year ago, and about the same as June. There were 10,288 homes listed for sale in July.
The statistic that’s usually the most telling barometer for home prices is the sales-to-active listings ratio. When it’s above 20 per cent for a sustained period, that is likely to push prices up, When it’s below 12 per cent also for a sustained period, pricers can be expected to go down.
The ratio for July was 18.3 per cent. By property type, the ratio was 11.8 per cent for detached homes, 20 per cent for townhomes and 24.5 per cent for apartments. In July, 523 detached homes, 304 attached homes and 1,060 apartments were sold in Metro Vancouver. All three categories were lower than the number of homes sold in the same month a year ago.
That, o f course, was before the rise in interest rates, before the inflation that is currently a part of life everywhere.
The statistic that’s usually the most telling barometer for home prices is the sales-to-active listings ratio. When it’s above 20 per cent for a sustained period, that is likely to push prices up, When it’s below 12 per cent also for a sustained period, pricers can be expected to go down.
The ratio for July was 18.3 per cent. By property type, the ratio was 11.8 per cent for detached homes, 20 per cent for townhomes and 24.5 per cent for apartments. In July, 523 detached homes, 304 attached homes and 1,060 apartments were sold in Metro Vancouver. All three categories were lower than the number of homes sold in the same month a year ago.
That, o f course, was before the rise in interest rates, before the inflation that is currently a part of life everywhere.
Statistics for the markets of West Vancouver, North Vancouver, Vancouver West and Vancouver East are graphically displayed below, as always.
That there’s a machine — invented in The Netherlands at The Mobile Factory — which can turn concrete rubble into Lego-like building blocks to allow victims of war to build new, earthquake-resistant homes?
“Jennifer and Dale consistently went the extra mile helping us select, tour and discern the advantages and potential pitfalls of countless properties. Their warm and engaging personalities, combined with a quiet but clear confidence in their work, left us with the tools and experience necessary to make the right decision. We have the highest confidence in recommending them to anyone, knowing they will serve with equal distinction.”— Reverends Ross Lockhart and Laura Lockhart, West Vancouver
Photo credits: Decor: Andrey Popov, Canva — House and key: Tierra Mallorca, Unsplash — Night view of Vancouver: Florian Wehde, Unsplash — Cruise ship: Cruising Done Right
1102 - 1480 Duchess Avenue, West Vancouver
$998,000
2423 Mathers Avenue, West Vancouver
$2,495,000
891 165 Street, White Rock, South Surrey
$1,598,000
705 - 1480 Duchess Avenue, West Vancouver
(represented buyer)
2480 Palmerston Avenue, West Vancouver
903- 1485 Duchess Avenue, West Vancouver
Real Estate Monthly Statistics
The following statistics for West Vancouver, North Vancouver, Vancouver West and Vancouver East compare July 2022 to July 2021
(note: sales refers to number of sales, not to sale prices).
Benchmark Price: Estimated sale price of a benchmark property. Benchmarks represent a typical property within each market.
To see more information on local stats, please click here.
What's happening in August throughout the Lower Mainland, with protocols included as currently known.
Vancouver Mural Festival
2410 Columbia St.
Daily mural tours, public talks, live performances at the all-new City Centre Festival Hub, plus a spectacular all-ages festival closing street party in downtown
www.destinationvancouver.com
August 12
Candlelight: Vivaldi Four Seasons
Kerrisdale Presbyterian Church
The music of Vivaldi in the gentle glow of candlelight, at the iconic Kerrisdale Presbyterian Church
feverup.com
Ambleside Music Festival
West Vancouver
West Van’s waterfront transformed into a spectacular open-air concert venue, with three days of non-stop music
https://amblesidefestival.com
Vancouver Whitecaps at B.C. Place Stadium
August 17: vs Colorado, 7 p.m.
August 27: vs Nashville, 7 p.m.
www.whitecapsfc.com/schedule
August 17: vs Colorado, 7 p.m.
August 27: vs Nashville, 7 p.m.
www.whitecapsfc.com/schedule
August 20
Steveston Dragon Boat FestivalSteveston Harbour and Imperial Landing Park
Over 2,000 paddlers for races, visual arts, live music and culinary delights
stevestondragonboatfestival.ca
August 20 (and September 17)
Candlelight: A tribute to Adele
Kerrisdale Presbyterian Church
Enjoy Adele’s greatest hits in the iconic Kerrisdale Presbyterian Church
https://feverup.com
August 20 to September 5
The PNE Fair
2901 East Hastings St.
All the usual rides, fun, food, concerts and amazing thrills, daily except Monday
www.pne.ca
August 24
Backstreet Boys DNA World Tour
Rogers Arena
The best-selling boys band of all time in a concert re-scheduled from 2020
www.ticketmaster.ca/backstreet-boys
August 26
Backstreet Boys DNA World Tour
Rogers Arena
The best-selling boys band of all time in a concert re-scheduled from 2020
www.ticketmaster.ca/backstreet-boys
August 26
B.C. Lions at B.C. Place Stadium
August 29
Alicia Keys World Tour
Rogers Arena
Alicia Keys, a winner of 15 Grammy Awards, and an accomplished actor, author and producer in a concert re-scheduled from 2020
alicia-the-world-tour
Alicia Keys World Tour
Rogers Arena
Alicia Keys, a winner of 15 Grammy Awards, and an accomplished actor, author and producer in a concert re-scheduled from 2020
alicia-the-world-tour
EVENTS ON NOW
Until August 14
Ghosts of the Machine
Polygon Gallery, North Vancouver
Elliott Ramsey with a look at the relationships between humans, technology and ecology
thepolygon.ca/exhibition/ghosts-of-the-machine
Polygon Gallery, North Vancouver
Elliott Ramsey with a look at the relationships between humans, technology and ecology
thepolygon.ca/exhibition/ghosts-of-the-machine
Theatre Under the Stars, Stanley Park
Something Rotten, and We Will Rock You
A Vancouver tradition on alternating evenings throughout the summer, high-energy outdoor stage presentations certain to entertain
tuts.ca
Stargazer: An immersive experience in Outer Space
Tsawwassen Mills Shopping Mall
A journey through the stars and into deep space for all ages, with astonishing 270º wall and floor projections; curated in part by the MacMillan Space Centre
feverup.com
Wednesdays in August
Sunset Cinema Outdoor Movies
šxʷƛ̓exən Xwtl’a7shn (outside the Queen Elizabeth Theatre)
630 Hamilton St.
Free movies on a huge inflatable screen under the stars, most Wednesdays this month
www.destinationvancouver.com
Ongoing
Orpheum Theatre Walking Tours
884 Granville St., Vancouver
Free guided tours of the Orpheum Theatre, one of the most beautiful concert halls in North America
www.destinationvancouver.com
On now
The Great Salmon Run 4D Experience
Vancouver Aquarium
Stanley Park
Based on one of Mother Nature’s most amazing events; 10 a.m - 5 p.m. daily (COVID-19 protocols in effect)
www.vanaqua.org
Until September 2
Shipyards Live
The Shipyards, North Vancouver
An evening of musical entertainment, fun for the whole family, every Friday evening
http://shipyardslive.ca
Sunset Cinema Outdoor Movies
šxʷƛ̓exən Xwtl’a7shn (outside the Queen Elizabeth Theatre)
630 Hamilton St.
Free movies on a huge inflatable screen under the stars, most Wednesdays this month
www.destinationvancouver.com
Ongoing
Orpheum Theatre Walking Tours
884 Granville St., Vancouver
Free guided tours of the Orpheum Theatre, one of the most beautiful concert halls in North America
www.destinationvancouver.com
On now
The Great Salmon Run 4D Experience
Vancouver Aquarium
Stanley Park
Based on one of Mother Nature’s most amazing events; 10 a.m - 5 p.m. daily (COVID-19 protocols in effect)
www.vanaqua.org
Until September 2
Shipyards Live
The Shipyards, North Vancouver
An evening of musical entertainment, fun for the whole family, every Friday evening
http://shipyardslive.ca
Until September 5
More Than a Mine: Recreation in a Mining Town
Britannia Mine Museum, Britannia Beach
Exhibition detailing the life and times of the miners and their families
www.britanniaminemuseum.ca
More Than a Mine: Recreation in a Mining Town
Britannia Mine Museum, Britannia Beach
Exhibition detailing the life and times of the miners and their families
www.britanniaminemuseum.ca
Until September 25
Wildlife Rescue: Miracles in Conservation
Vancouver Aquarium, Stanley Park
An up-close look at incredible animals, with hands-on displays and experts to answer your questions
vanaqua.org/explore/experiences/wildlife-rescue
Wildlife Rescue: Miracles in Conservation
Vancouver Aquarium, Stanley Park
An up-close look at incredible animals, with hands-on displays and experts to answer your questions
vanaqua.org/explore/experiences/wildlife-rescue
Richmond Night Market
8351 River Road, Richmond
The largest night market in North America, weekend evenings
https://richmondnightmarket.com
Until October
Boarder X
Museum of Vancouver
A travelling exhibit that features work by contemporary artists from Indigenous nations across Canada (proof of vaccination required)
https://museumofvancouver.ca
https://museumofvancouver.ca
Until February 23, 2023
T. rex: The Ultimate Predator
Science World
A life-sized model of a Tyrannosaurus rex to captivate young and old, setting the stage for entertaining investigation into dinosaur history — daily from 10:00 a.m. (Covid-19 protocols in effect)
VanDusen Botanical Gardens
Vancouver
Enjoying the great outdoors in the heart of the city, family-friendly
vandusengarden.org
Sea to Sky Gondola
Squamish
Summer Schedule
Spectacular suspension bridge, mountain music, yoga and many summer activities at the top of the mountain
www.seatoskygondola.com
Vancouver
Enjoying the great outdoors in the heart of the city, family-friendly
vandusengarden.org
Sea to Sky Gondola
Squamish
Summer Schedule
Spectacular suspension bridge, mountain music, yoga and many summer activities at the top of the mountain
www.seatoskygondola.com
Vancouver Aquarium
Stanley Park
Over 65,000 animals under one roof, home of the only Marine Mammal Rescue Centre in Canada (mandatory face masks)
www.vanaqua.org
Over 65,000 animals under one roof, home of the only Marine Mammal Rescue Centre in Canada (mandatory face masks)
www.vanaqua.org
Bill Reid Gallery
A small but significant collection of art and archives related to Bill Reid and his legacy, with a majority of it (161 works in a variety of media from jewelry to prints and sculptures) from the Simon Fraser University Bill Reid Collection.
www.billreidgallery.ca
Worldwide Webcams
A website catering to people who miss travel, visiting virtually everywhere with webcams from Argentina to Zanzibar, and many places in between
skylinewebcams.com
Buckingham Palace
A virtual tour of the official residence of Queen Elizabeth, the focus of many moments of national celebration — jubilees, weddings, VE Day and the annual Trooping the Colour on The Queen's official birthday
www.royal.uk/virtual-tours-buckingham-palace
BC Sports Hall of Fame and Museum
Many of Canada’s most talented athletes at Indigenous Sport Gallery, Canadian Dragon Boat Exhibition, Greg Moore Gallery, Rick Hansen Gallery! Daily 9 a.m. to 5 p.m.
bcsportshall.com
Sea to Sky Gondola — Squamish
A breathtaking gondola ride to the summit to experience the Sky Pilot Suspension Bridge, three spectacular viewing platforms, snowshoeing, walking and hiking trails, with dining and shopping experiences at both ends of the ride; 9:30 p.m. to 5:00 p.m. daily
www.seatoskygondola.com
Grouse Mountain — The Peak of Vancouver
Plenty of activities for all ages when purchasing a mountain admission ticket
www.tourismvancouver.com/listings/grouse-mountain-the-peak
Virtual Tours of 12 Famous Museums
Experiencing museums from London to Seoul from the comfort of your home
www.travelandleisure.com/attractions
North Shore Events
www.vancouversnorthshore.com/events-calendar/
West Vancouver United Church
Sunday service 10 a.m.
wvuc.bc.ca/worship/
Tourism Vancouver
Virtually Vancouver, and more
www.tourismvancouver.com
Need some culture or learning in your life?
Go to a virtual museum — you’ll find a lot of them through Google: artsandculture.google.com
Go to a virtual opera: www.metopera.org/
Visit the Science Centre: www.scienceworld.ca/
Nature web cams can be fun to watch. explore.org/livecams
Search for lots of free learning programs for kids and adults online.
Virtual programming at your favourite library
A small but significant collection of art and archives related to Bill Reid and his legacy, with a majority of it (161 works in a variety of media from jewelry to prints and sculptures) from the Simon Fraser University Bill Reid Collection.
www.billreidgallery.ca
Worldwide Webcams
A website catering to people who miss travel, visiting virtually everywhere with webcams from Argentina to Zanzibar, and many places in between
skylinewebcams.com
Buckingham Palace
A virtual tour of the official residence of Queen Elizabeth, the focus of many moments of national celebration — jubilees, weddings, VE Day and the annual Trooping the Colour on The Queen's official birthday
www.royal.uk/virtual-tours-buckingham-palace
BC Sports Hall of Fame and Museum
Many of Canada’s most talented athletes at Indigenous Sport Gallery, Canadian Dragon Boat Exhibition, Greg Moore Gallery, Rick Hansen Gallery! Daily 9 a.m. to 5 p.m.
bcsportshall.com
Sea to Sky Gondola — Squamish
A breathtaking gondola ride to the summit to experience the Sky Pilot Suspension Bridge, three spectacular viewing platforms, snowshoeing, walking and hiking trails, with dining and shopping experiences at both ends of the ride; 9:30 p.m. to 5:00 p.m. daily
www.seatoskygondola.com
Grouse Mountain — The Peak of Vancouver
Plenty of activities for all ages when purchasing a mountain admission ticket
www.tourismvancouver.com/listings/grouse-mountain-the-peak
Virtual Tours of 12 Famous Museums
Experiencing museums from London to Seoul from the comfort of your home
www.travelandleisure.com/attractions
North Shore Events
www.vancouversnorthshore.com/events-calendar/
West Vancouver United Church
Sunday service 10 a.m.
wvuc.bc.ca/worship/
Tourism Vancouver
Virtually Vancouver, and more
www.tourismvancouver.com
Need some culture or learning in your life?
Go to a virtual museum — you’ll find a lot of them through Google: artsandculture.google.com
Go to a virtual opera: www.metopera.org/
Visit the Science Centre: www.scienceworld.ca/
Nature web cams can be fun to watch. explore.org/livecams
Search for lots of free learning programs for kids and adults online.
Virtual programming at your favourite library
On now
The Great Salmon Run 4D Experience
Vancouver Aquarium
Vancouver Aquarium
Stanley Park
Based on one of Mother Nature’s most amazing events; 10 a.m - 5 p.m. daily (Covid-19 protocols in effect)
