IN THIS ISSUE:
• REBGV's November stats good news for sellers
• Business as usual — now business as unusual
• Hong Kong's potential impact on real estate looming
• 'Personally respectful people...just the same in business'
November’s REBGV statistics favour sellers
The real estate market is much stronger than it was a year ago, and not as strong as it was a month ago. That’s a snapshot of the news in the current statistics release from the Real Estate Board of Greater Vancouver.
The real estate market is much stronger than it was a year ago, and not as strong as it was a month ago. That’s a snapshot of the news in the current statistics release from the Real Estate Board of Greater Vancouver.
Compared to November 2019, home sales in Metro Vancouver were 22.7 per cent higher last month. Compared to October 2020, sales decreased by 16.9 per cent.
At the same time, sales were 24.6 per cent above the 10-year average for November.
The same was true for new listings…up 36.2 per cent from a year ago, down 27 per cent from a month ago.
That prompts this analysis from the REBGV:
"The total number of homes for sale in Metro Vancouver is lagging behind the pace of demand right now. This trend favours home sellers in today's market."
The number of homes for sale in Metro Vancouver is about the same as for the same month in 2019, and 10.5 per cent less than in October 2020. With the demand still greater than the supply, home prices are expected to continue to rise, at least in some sections of the market.
The statistical indicator for that is the sales-to-active-listings ratio. Prices generally rise when the ratio is above 20 per cent for a sustained period. The current ratio is 27.6 per cent. By category, that’s 27.9 per cent for detached homes, 40.1 per cent for townhomes and 23.9 per cent for apartments.
The largest demand for listings is in what might be called more remote areas.
In its monthly news release, the REBGV said:
“While demand remained elevated across the region, home buyer activity was particularly focused in…areas like the Sunshine Coast, Gulf Islands and Squamish. The rise of work-from-home arrangements and physical distancing policies is causing some home buyers to opt for less densified areas.”
By category, here are the sales increases compared to November 2019:
Detached homes — 28.6 per cent
Attached homes — 40.1 per cent
Apartments — 12.2 per cent
Attached homes — 40.1 per cent
Apartments — 12.2 per cent
Particularly in the first two categories, home buyer demand has continued at near-record levels since the summer, which puts upward pressure on those home prices.
For sellers, that’s good news at the end of a year robbed of good news by the coronavirus.
You’ve spent a couple of decades mowing the lawn, tending to the flower garden, and maybe growing vegetables. It has been fun but it’s also been a lot of work, and you’re ready for something else.
You want to live in West Vancouver.
There’s a great value waiting for you on Marine Drive.
It’s a townhome, and a special one in a special area, Olde Caulfeild. No seeding and weeding. No cutting grass.
It has 2,305 square feet. To have that much space at a prime location of West Vancouver is what makes it such a great value. That, and the fact it has a new price — $1,348,000.
The address is 4957 Marine Drive, Caulfeild Cove. Unit 17, the best location of the 30 townhomes in this low-density complex and its attractive grounds.
Arrange an appointment and here’s some of what you’ll see:
• from a carport that’s right next to the door, an open-style family room that leads to a spacious and practical kitchen
• the living and dining rooms, both framed by floor-to-ceiling windows and patio doors that display a private patio, one of two
• one floor down, an impressive master bedroom, complete with full ensuite and the other patio closely connected to nature
• another bedroom, a den and a laundry room on that same floor
The Virtual sign reads Open For Business.
That’s the message to all Nexus Realty customers, and potential customers. Because the B.C. Government declared real estate to be an essential service, Nexus continues to conduct business as usual…yet a little unusual, in order to conform with provincial government protocols to stay COVID-19 safe.
Meeting protocols during this second wave of the virus means that Nexus is able to take care of all of your real estate needs and meet all the requirements. The process is just a little different than when life was normal so that everything is done safely.
Showings are COVID-controlled, protecting both the seller and the potential buyer who is looking at the seller’s house. Besides wearing masks and using hand sanitizer, visitors can be assured it is safe to see the home, and the home owner who is trying to sell the home can be assured the same will apply after the showing.
Much of the pre-visit research is done, like so many things now, virtually. This means showings are designed to involve only buyers who are serious about a specific property. Again, that’s to benefit both the buyer and seller.
Open houses?
There are still open houses, but they’re a little different, too. To attend one requires making an appointment. In keeping with COVID protocols, the number of visitors is limited and the identity of all visitors is noted.
level of potential emigrants" many would be coming to Canada, and that emigration would be "centralizing right here in Vancouver."It is, at least, a developing story worth watching.
The following statistics for West Vancouver, North Vancouver, Vancouver West and Vancouver East
West Vancouver United Church
Virtual Sunday service 10 a.m.
wvuc.bc.ca/worship/
Tourism Vancouver
Virtually Vancouver, and more
www.tourismvancouver.com
Vancouver Aquarium Live Cams
Otters, Penguins, Jelly Fish
https://www.vanaqua.org/live-cams
BC Winery Virtual Tours
http://www.bcwine.ca/virtual-winery-tours
Vancouver Art Gallery
Art Connects — a series of online gatherings that encourage dialogue and connection in the era of physical distancing.
http://www.vanartgallery.bc.ca/exhibitions/art-connects
Every Tuesday and Friday, the Gallery will stream live and interactive conversations into your homes, featuring guests from local and international arts communities. Everyone is invited to join via Zoom.
Play: Kids Yoga Day
Kids and parents: ready to move and have fun together!
www.eventbrite.ca/e/play-kids-yoga-day-powered-by-mymomentum-uphoria-yoga-tickets-102448062914
Connect with Family and Friends
To connect with family and friends you can use Facebook, Messenger, FaceTime, Google Duo or Hangouts, Zoom, Instagram Video Chat, Snapchat Video and Chat, Skype, WhatsApp…the list is long. Check with family or friends and decide which is the best way to connect.
Tired of Cooking?
Many restaurants are offering take-out. Breaking Bread Now provides a list of restaurants in different areas with take-out meals breakingbreadnow.com/.
On Facebook there is a group called Support Local Business which supports local restaurants and businesses and gives them and others the opportunity to spread the word. Maybe your area has a similar Facebook group: www.facebook.com/groups.
Need some culture or learning in your life?
Go to a virtual museum — you’ll find a lot of them through Google: https://artsandculture.google.com
And for Canadian museums: http://www.virtualmuseum.ca/virtual-exhibits/type/virtual-exhibits/
Go to a virtual opera: https://www.metopera.org/
You can even take a virtual tour of The Louvre in Paris: www.louvre.fr/en/visites-en-ligne#tabs
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.
Visit your Library for virtual programming
westvanlibrary.ca/
www.nvcl.ca/
nvdpl.ca/
www.vpl.ca/digitallibrary
Need some exercise?
Go for a walk and get some fresh air if you’re healthy and following physical distancing.
Here is a link to some free exercise programs posted on CBC: www.cbc.ca/life/wellness/
Many exercise, yoga or meditation videos are available on YouTube.
Finding ‘great value’ in unique Caulfeild Cove townhome
You’ve spent a couple of decades mowing the lawn, tending to the flower garden, and maybe growing vegetables. It has been fun but it’s also been a lot of work, and you’re ready for something else.You want to live in West Vancouver.
There’s a great value waiting for you on Marine Drive.
It’s a townhome, and a special one in a special area, Olde Caulfeild. No seeding and weeding. No cutting grass.
It has 2,305 square feet. To have that much space at a prime location of West Vancouver is what makes it such a great value. That, and the fact it has a new price — $1,348,000.
The address is 4957 Marine Drive, Caulfeild Cove. Unit 17, the best location of the 30 townhomes in this low-density complex and its attractive grounds.
Arrange an appointment and here’s some of what you’ll see:
• from a carport that’s right next to the door, an open-style family room that leads to a spacious and practical kitchen
• the living and dining rooms, both framed by floor-to-ceiling windows and patio doors that display a private patio, one of two
• one floor down, an impressive master bedroom, complete with full ensuite and the other patio closely connected to nature
• another bedroom, a den and a laundry room on that same floor
The townhome is an end unit, also appealing with loads of light from its southern exposure, and just a short walk from the waterfront in the heart of Caulfeild.
That from October 2019 to October 2020, the average house price in Canada rose by 15.2 per cent and that in British Columbia the increase was 12.3 per cent, according to statistics from the Canadian Real Estate Association?
Essential service: buying and selling properties
The Virtual sign reads Open For Business.That’s the message to all Nexus Realty customers, and potential customers. Because the B.C. Government declared real estate to be an essential service, Nexus continues to conduct business as usual…yet a little unusual, in order to conform with provincial government protocols to stay COVID-19 safe.
Meeting protocols during this second wave of the virus means that Nexus is able to take care of all of your real estate needs and meet all the requirements. The process is just a little different than when life was normal so that everything is done safely.
Showings are COVID-controlled, protecting both the seller and the potential buyer who is looking at the seller’s house. Besides wearing masks and using hand sanitizer, visitors can be assured it is safe to see the home, and the home owner who is trying to sell the home can be assured the same will apply after the showing.
Much of the pre-visit research is done, like so many things now, virtually. This means showings are designed to involve only buyers who are serious about a specific property. Again, that’s to benefit both the buyer and seller.
Open houses?
There are still open houses, but they’re a little different, too. To attend one requires making an appointment. In keeping with COVID protocols, the number of visitors is limited and the identity of all visitors is noted.
The bottom line is that people still need to be able to move, to buy and sell. Real estate’s status as an essential service means, in spite of COVID-19, people still can move.
Contact Jennifer or Dale with any questions that aren’t answered here. If you’re considering selling, call to find out how you can do it safely. If you’re interested in seeing properties, call for details on how you can while being COVID comfortable.
It’s essential to know how this essential service, from Nexus Realty, keeps you safe.
Contact Jennifer or Dale with any questions that aren’t answered here. If you’re considering selling, call to find out how you can do it safely. If you’re interested in seeing properties, call for details on how you can while being COVID comfortable.
It’s essential to know how this essential service, from Nexus Realty, keeps you safe.
The Hong Kong effect: a closer horizon
In one of the many talks he has given on the subject of Hong Kong, Canadian immigration attorney Richard Kurland said "unless China finds a way to reduce the stresslevel of potential emigrants" many would be coming to Canada, and that emigration would be "centralizing right here in Vancouver."It is, at least, a developing story worth watching. He added:
"The day martial law is imposed — and that day may be coming by Christmas — everyone get ready.”
That was last Christmas.
Now, more than a year later, Kurland’s prophesy is closer to becoming a reality, and the effect will certainly impact the Lower Mainland’s real estate market. What he said then was that massive immigration to Canada was on the horizon.
Martial law has not been declared in Hong Kong, but the Canadian government announced last month it was introducing a new immigration measure, a work permit “designed to speed up the process toward permanent residency for students and young people in Hong Kong.”
This came in the wake of China’s decision to remove four lawmakers from office, a move seen by many as undermining freedom in Hong Kong, and a move condemned by Canada and other countires.
There are an estimated 300,000 Canadians currently living in Hong Kong, and many more who would qualify for legal status in Canada. Once they have decided it’s time to leave Hong Kong, and the Federal Government clearly understands why they would, the exodus to Canada will be obvious.
Given that a two-year-old census estimated there are more than half million people of Chinese heritage in Greater Vancouver, the Lower Mainland is a logical landing spot. If only 25 per cent make the West Coast their Canadian destination, that’s potentially more than 75,000 people looking for places to live.
It is, at least, a developing story worth watching.
What clients are saying...
“We knew them personally as respectful people, and they were just the same in business. They both listen so well. Just a little thing, but they even asked us where we wanted the ‘For Sale’ sign placed, so it was discreet. They were so respectful of our needs, and so incredibly ethical and fair. We found them so honest, and very responsible with our money. We really like the way they work together, too. It’s a great partnership. — Judy and Gary Grafton, West Vancouver
Buying from a distance — how well it can work
This is a true story with a happy ending.
A high-energy couple left the Lower Mainland to live in the Okanagan, about 10 years ago. It was a good life with stimulating activities that suited their lifestyle, more sunshine and a better bang-for-the-buck in real estate.
However, the lure of children and grandchildren in the Lower Mainland eventually became too strong, so this husband and wife decided a few months ago to return and be closer to their family.
Once their home in the Okanagan sold, the search was on for a new one on the Coast.
They alerted Dale and Jennifer, with a specific search criteria. Without going into all the details, it was soon clear there was a scarcity of what they were looking for in North Vancouver, where they wanted to live. So Nexus sent letters to owners of North Shore homes that matched (or were close) even though they weren’t listed for sale, and continued to show the couple real estate properties virtually — via the technology that makes long-distance showings so attractive.
Last month, one of the couple’s kids found a listing that looked like it might work. When Nexus — along with members of the local family — conducted a virtual showing for the parents, they agreed and after all the appropriate checks and balances were researched, the result was a conditional, long-distance offer.
Early this month, the conditions were removed. Working with the client requirements became — thanks to those virtual showings — a win-win reality.
Real Estate Monthly Statistics
The following statistics for West Vancouver, North Vancouver, Vancouver West and Vancouver East
compare November 2020 to November 2019 (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.
17-4957 Marine Drive, West Vancouver
• Great value in Caulfeild Cove
• 2,305 square feet • Special home, special place
Virtual events to enjoy in December
What to do in this first pandemic-restricted Christmas...
A blogger who goes by Miss 604, Rebecca Bollwitt, has prepared an extensive list of what’s on and what’s not for December 2020 throughout Vancouver. There’s something to appeal to everyone, both free and with an admission fee. Here is Rebecca’s impressive list, followed by the activities regularly featured in News From Nexus:
West Vancouver United Church
Virtual Sunday service 10 a.m.
wvuc.bc.ca/worship/
Tourism Vancouver
Virtually Vancouver, and more
www.tourismvancouver.com
Vancouver Aquarium Live Cams
Otters, Penguins, Jelly Fish
https://www.vanaqua.org/live-cams
BC Winery Virtual Tours
http://www.bcwine.ca/virtual-winery-tours
Vancouver Art Gallery
Art Connects — a series of online gatherings that encourage dialogue and connection in the era of physical distancing.
http://www.vanartgallery.bc.ca/exhibitions/art-connects
Every Tuesday and Friday, the Gallery will stream live and interactive conversations into your homes, featuring guests from local and international arts communities. Everyone is invited to join via Zoom.
Play: Kids Yoga Day
Kids and parents: ready to move and have fun together!
www.eventbrite.ca/e/play-kids-yoga-day-powered-by-mymomentum-uphoria-yoga-tickets-102448062914
Connect with Family and Friends
To connect with family and friends you can use Facebook, Messenger, FaceTime, Google Duo or Hangouts, Zoom, Instagram Video Chat, Snapchat Video and Chat, Skype, WhatsApp…the list is long. Check with family or friends and decide which is the best way to connect.
Tired of Cooking?
Many restaurants are offering take-out. Breaking Bread Now provides a list of restaurants in different areas with take-out meals breakingbreadnow.com/.
On Facebook there is a group called Support Local Business which supports local restaurants and businesses and gives them and others the opportunity to spread the word. Maybe your area has a similar Facebook group: www.facebook.com/groups.
Need some culture or learning in your life?
Go to a virtual museum — you’ll find a lot of them through Google: https://artsandculture.google.com
And for Canadian museums: http://www.virtualmuseum.ca/virtual-exhibits/type/virtual-exhibits/
Go to a virtual opera: https://www.metopera.org/
You can even take a virtual tour of The Louvre in Paris: www.louvre.fr/en/visites-en-ligne#tabs
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.
Visit your Library for virtual programming
westvanlibrary.ca/
www.nvcl.ca/
nvdpl.ca/
www.vpl.ca/digitallibrary
Need some exercise?
Go for a walk and get some fresh air if you’re healthy and following physical distancing.
Here is a link to some free exercise programs posted on CBC: www.cbc.ca/life/wellness/
Many exercise, yoga or meditation videos are available on YouTube.
