News From Nexus

IN THIS ISSUE:

            • Three areas of real estate impact from ‘Homes for People’

            • Which cruise ships are coming to Vancouver and when?

            • Rare chance to buy light industrial property in North Van

            • Decor: The importance of why ‘less is more’



            • Encouraging spring market depending on sellers




Housing shortage impacting quality of life 

       The “housing crisis” announcement from the Provincial Government this month is so big ($12 billion) and so far-reaching (every B.C. community) that its effect and impact will likely take years to unfold. However, its immediate impact on real estate can be summed up like this:
       • Homeowners will be allowed to build three to four units on a single-family detached lot, dependent on the size or type of lot.
       • Secondary suites will be legal in every community in the province and homeowners will be encouraged to build them with the help of “forgivable loans.”
       • The application process for permits will be accelerated sometime this year, as previously promised, with the hope to keep approvals up and costs down.
       To that third point, the housing minister said at the press conference: “This means no more long zoning processes just to build a duplex, a triplex or a row home.”

       Drawing on how New Zealand, Oregon and California each coped with a similar
 housing crisis, the government unveiled a plan for the province to invest $4 billion over the first three years and $12 billion over the next decade.

       The government revealed “more than 100,000 people moved to B.C. in 2021, and another 150,000 people in 2022, the most in 60 years.”

       Adds the Premier: “It's impacting quality of life in our communities and it's holding back our entire economy. Businesses are struggling to attract workers who can't afford to live in the communities where the jobs are.”

       The province is hoping to build its way out of the crisis, keying on adding middle-income, small scale, targeted housing units while “unlocking” existing homes. To that end, it plans to provide incentives to build housing units, laws to curb speculation and financial help for renters and homeowners. The “forgivable loans” are to help homeowners who want to expand densification on their property and comes with conditions that include renting out the space at below-market rates for five years. The laws to deal with speculators focuses on a “flipping tax” that has been previously introduced by the government.

       "If you are holding a home right now that you intend to flip, if you are thinking about buying a home for the purposes of flipping it, the message today is that this [flipping] tax is
 

coming,” said the Premier. “It will cost you money. So stop engaging in that activity. Homes are for British Columbians to live in this province.”

       The plan is called “Homes for People.” It will remain a plan until the legislation is introduced and accepted, probably in the fall.
Statistics for the markets of West Vancouver, North Vancouver, Vancouver West and Vancouver East are graphically displayed below, as always.



Light industrial property for sale in North Van
     


       A building centrally located in North Vancouver is for sale for the first time since 1996 and it comes with potential for significant future development. The stand-alone warehouse at 1086 3rd St. West has 4,731 square feet, with parking in a yard off the back lane that provides easy entry to the building for vehicles.


       It’s attractively located in the Pemberton-Norgate area that's known for light industrial service, south of Marine Drive and two blocks east of Pemberton. Because it’s a stand-alone, there is no strata, and buildings such as this one are rarely for sale.





I’ve known Dale for a very long time. He worked with my husband many, many years ago. When I returned to Vancouver in 2000, I naturally got in touch with them to help me with my first “solo” home buying experience. It was all very good, so of course when it was time to sell 20 years later, Dale and Jennifer were right there with me. “They were very optimistic about the pricing, and it sold for even more. They are just the best…their honesty, and they’ll do anything you want. They listen to everything you say. I’d absolutely trust them any day.”

                                               — Dot Watson, formerly West Vancouver

Checking out the cruise ships, class of ’23 

       When the Sapphire Princess arrives in Vancouver early on the morning of April 12, it will launch a cruise season that will be "normal" for the first time since the pandemic. Between that date and October 24, right now 340 ships visits are scheduled to be moored on the northern shore of downtown Vancouver.

       All the major cruise companies will be here and five of them — Princess, Norwegian, Holland America, Royal Caribbean and Celebrity — will have multiple ships making the trip to Alaska multiple times. For five months, there will be about 60 ships visiting Vancouver, or two per day.

       In addition to the economic benefits to local vendors, restaurants and hotels, this makes for enjoyable and interesting viewing for anybody from the shorelines of North Vancouver, West Vancouver and Vancouver. It's especially enjoyable for residents who live, or plan to live, in a home with a view of Burrard Inlet.

       As a convenience, every issue of News From Nexus will include a snapshot of the coming month's visitors.

       Dates, ships, arrival, departure times and sometimes a picture, like Holland America's classy Koningsdam (which will be here three times in 25 days), will be featured.


Here is a preview for the first month:



Wednesday, April 12

Sapphire Princess

7 a.m.

12 p.m.

Thursday, April 13

Norwegian Bliss

7 p.m.


Friday, April 14

Norwegian Bliss


6 p.m.

Friday, April 14

Koningsdam (Holland America)

8 a.m.

3 p.m.

Sunday, April 23

Brilliance of the Seas (Royal Caribbean)

5 a.m.

7 p.m.

Thursday, April 27

Royal Princess

9 a.m.

10 p.m.

Friday, April 28

Eurodam (Holland America)

7 a.m.

4:30 p.m.

Saturday, April 29

Sapphire Princess

7 a.m.

4:30 p.m.

Sunday, April 30

Discovery Princess

12:01 a.m.

4:30 p.m.

Sunday, April 30

Nieuw Amsterdam (Holland America)

7 a.m.

4:30 p.m.

Sunday, April 30

Brilliance of the Seas (Royal Caribbean)

7 a.m.

5 p.m.

Monday, May 1

Norwegian Jewel

6 a.m.

5 p.m.

Monday, May 1

Grand Princess

7 a.m.

4:30 p.m.

Monday, May 1

Koningsdam (Holland America)

7 a.m.

3 p.m.

Tuesday, May 2

Noordam (Holland America)

7 a.m.

2 p.m.

Wednesday, May 3

Celebrity Solstice

6 a.m.

4 p.m.

Wednesday, May 3

Royal Princess

7:30 a.m.

4:30 p.m.

Thursday, May 4

Ruby Princess

9 a.m.

10 p.m.

Thursday, May 4

Norwegian Encore

12:30 a.m.


Friday, May 5

Norwegian Encore


10:30 a.m.

Friday, May 5

Majestic Princess

7 a.m.

4:30 p.m.

Friday, May 5

Crown Princess

11 a.m.

5 p.m.




Real estate statistics: still, shortage of sellers 

       The state of the Metro Vancouver real estate market comes down to this: “Over to you, sellers.”

       Once again, statistics from the Real Estate Board of Greater Vancouver demonstrate that the market is showing signs of good health. All it needs is more listings, from sellers who have been waiting to see if the market has turned.
 
       In its monthly news release, the REBGV said:

       “On the pricing side, the spring market is already on track to outpace our 2023 forecast, which anticipated modest price increases of about one to two per cent across all product types. The surprising part of this recent activity is that these price increases are occurring against a backdrop of elevated borrowing costs, below-average sales, and new listing activity that continues to suggest that sellers are awaiting more favourable market conditions.”

       Home sales are down significantly (42.5), as expected, for March as compared to the same month in 2022 — when the market was hot. However, total sales of all types of housing rose by more than 37 per cent from February 2023 to March.

       “If home sellers remain on the sidelines, monthly MLS® sales figures will continue to appear lower than historical averages as we move toward summer,” said Andrew Lis, REBGV’s director of economics and data analytics. “But it’s important to recognize the chicken-and-egg nature of these statistics. The number of sales in any given month is partially determined by the number of homes that come to market that month, along with the inventory of unsold homes listed in previous months. With fewer homes coming on the market, homes sales will remain lower than we’re accustomed to seeing at this point in the year, almost entirely by definition.”

       In March, there were 4,317 new listings in all categories throughout Metro Vancouver. That’s down from 6,690 new listings for the same month a year ago, a drop of 35.5 per cent.

       Meanwhile, home prices continue to rise. The sales-to-active listings ratio last month was 30.7 per cent. Anything over 20 per cent — for several months — puts upward pressure on home prices. They go up. The biggest increases are for townhomes (36.7 per cent) and apartments (34.9 per cent).

       Sales are also increasing, modestly, compared to figures from February 2023.

       The wait for the sellers continues.

Decor: Living life like ‘Less is More’.

       Sometimes “less” really is “more.” How can that be? The accepted and somewhat traditional progression of life is acquiring “more.” It starts with a home and all that goes in it.

       For Baby Boomers, that usually meant a house in the suburbs with a yard. The bigger, the better. For both! And when you have a big house and big yard, that’s a lot of space to fill with…stuff.

       Well, for boomers and the generations following them, the times they are a-changin’…in so many ways. Every generation is gaining an insight into this new lifestyle, and an increasing number of people are buying into it.
 
       Less really is more.

       Life in the Lower Mainland is one of the ultimate examples. With a finite area in which to live and work, and with the population’s growing at a rapid pace because of the climate,
 

the beauty and the lifestyle, quality almost has to overcome quantity. A condo/apartment, generally with less square footage, has happily become the “home” that single-family dwellings always were. That lifestyle exemplifies the simplicity of “less really is more.”
 
       Look beyond the square footage of your home. With a smaller domicile, there is less maintenance, less up-front cost, and less likelihood of fewer furnishings, be they couches and chairs, lamps or pictures on the wall. Here’s another advantage — less cleaning!

       So if you’re moving from a larger space, it’s a good time to give a new life to those over-sized pieces of furniture, or the books overflowing the bookshelf, or the tools and kitchen accoutrements that seldom get used any more. Moving, after all, is a new life and with so many ways to sell items today, it’s an easier transition than it used to be.
 
       And you don’t have to move to live a less-really-is-more existence, Researchers say that getting rid of clutter has been shown to add some calm to your life, whether it’s in a studio apartment or a five-bedroom home.

       Simplifying your life goes beyond space. Many of the options in “less is more” lives are environmentally-friendly. It could be anything from recycling clothing, giving gifts that are clutter-free (gifts of time or gift cards) or just spending less on what we loosely call stuff.

       The first question is: “Do you need the “more” in your life, or will you be just as happy with “less?” When it comes to housework, that’s a no-brainer, isn’t it? 

Every month, News From Nexus features ideas or observations about Decor, or ways you can make your home more appealing.



Meanwhile, in other news...

The most important real estate news is widely covered in major media outlets, and sometimes analyzed here in News From Nexus. What you'll find in this section is interesting real estate news that you may not see on TV or in the mainstream newspapers.

West Vancouver to make old home new waterfront cafe

Built in 1873, the oldest home in Metro Vancouver was scheduled to be demolished…now it has been saved and will soon become a waterfront cafe in West Vancouver. Known as Navvy Jack House and built by the man whose real name was John Thomas, the District of West Vancouver committed $1 million towards the restoration, with fund raising planned for the balance, after heritage advocates lobbied to save the home.



First-time home buyers, foreign ownership both in federal budget

  Two real estate-related items in last month’s Federal Budget were certifying the Tax-Free First Home Savings Account and amendments to the Foreign Buyer Ban. First-time home buyers can, as of April 1, save for their first homes tax-free by opening an account and making deposits up to $8,000 per year. There were four amendments to the three-month-old restrictions on foreign ownership. For more details, click on The Nexus Blogs.



Jim Pattison home sold for more waterfront parkland 

A home owned by Jim Pattison will be converted to parkland. The City of West Vancouver has a legal agreement to purchase 1448 Argyle Avenue, the next-to-last piece of a plan to buy 32 waterfront properties from Ambleside Park to John Lawson Park. Only one remains, next to the Pattison home. The North Shore News says it’s a trade for two properties on Roseberry, owned by the city.




That Canada’s population — now 39,566,248 — increased by 1.05 million people in 2022, an all-time record which means Canada again is the fastest-growing G7 country, and that 96 per cent of the increase (according to Statistics Canada) came from immigration?






If you enjoy what you're reading every month in News From Nexus, please encourage your friends to share in that enjoyment by becoming subscribers. They can sign up at the bottom of any page on this website. Your recommendation goes a long way — and it's appreciated by the people who send you what they think is an interesting read, the first week of every month.



Photo credits
         Housing photo: Dillon Kydd, Unsplash; 
         Light industrial photos: Video Openhouse


Real Estate Monthly Statistics

The following statistics for West Vancouver, North Vancouver, Vancouver West and Vancouver East compare March 2023 to March 2022 
(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.

1086 3rd Street West, North Vancouver

$3,895,000

1131 Montroyal Boulevard, North Vancouver

$1,388,000



415 - 15745 Croydon Drive, South Surrey/White Rock



April 1-28
Vancouver Cherry Blossom Festival
Festival Kickoff April 1
David Lam Park, 1300 Pacific, 10 a.m. - 4:30 p.m.
A chance to enjoy music and cultural events at The Big Picnic, celebrated under the 100 Akebono cherry trees donated by Dr. David Lam
vcbf.ca/event/the-big-picnic-2023

Vancouver Whitecaps at BC Place
April 1: vs FC CF Montreal, 7:30 p.m.
April 5: vs Los Angeles FC, 7 p.m.
April 8: vs Portland, 7:30 p.m.
April 29: vs Colorado, 7:30 p.m.
www.whitecapsfcs.com

Vancouver Canucks at Rogers Arena 
April 2: vs Los Angeles Kings, 5 p.m.

April 4: vs Seattle Kraken, 7 p.m.
April 6: vs Chicago Blackhawks, 7 p.m.
April 8: vs Calgary Flames, 7 p.m.
www.canucks.com

April 2
Take It To The Limit: The Ultimate Eagles Tribute
Centennial Theatre, North Vancouver, 7:30 p.m.
Some of Canada’s finest musicians playing hits from America’s much-loved rock band
tickets.centennialtheatre.com/TheatreManager/1/online?performance=298

Vancouver Canadians at Nat Bailey Stadium
April 5: vs UBC Thunderbirds, 6:30 p.m.
April 7: vs Spokane Indians, 7:05 p.m.
April 8: vs Spokane Indians, 1:05 p.m.
April 9: vs Spokane Indians, 1:05 p.m.
April 11: vs Tri-City Dust Devils, 7:05 p.m.
April 12: vs Tri-City Dust Devils, 7:05 p.m.
April 13: vs Tri-City Dust Devils, 7:05 p.m.
April 14: vs Tri-City Dust Devils, 1:05 p.m.
April 15: vs Tri-City Dust Devils, 1:05 p.m.
April 16: vs Tri-City Dust Devils, 1:05 p.m.
April 25: vs Eugene Emeralds, 7:05 p.m.
April 26: vs Eugene Emeralds, 7:05 p.m.
April 27: vs Eugene Emeralds, 7:05 p.m.
April 28: vs Eugene Emeralds, 1:05 p.m.
April 29: vs Eugene Emeralds, 1:05 p.m.
April 30: vs Eugene Emeralds, 1:05 p.m.
www.vancouvercanadians.com

Abbotsford Canucks at Abbotsford Centre
April 7: vs Ontario Reign, 7 p.m.
April 8: vs Ontario Reign, 7 p.m.
April 12: vs Calgary Wranglers, 7 p.m.
April 14: vs Calgary Wranglers, 7 p.m.
April 15: vs Calgary Wranglers, 7 p.m.
www.abbotsford.canucks.com

April 10
John Mayer
Rogers Arena, 7:30 p.m.
A man of many talents…singer, songwriter and guitarist, not to mention TV host, comedian and author, bringing his acoustic talent to Vancouver
www.livenation.com/event/G5v7Z9NEe73wD/john-mayer-solo

April 14
Candlelight: A Tribute to Fleetwood Mac
Kerrisdale Presbyterian Church 9:00 p.m.
Reliving the classic rock and pop hits of Fleetwood Mac, superstars for five decades
feverup.com/m/122765

April 14-15
Distant Worlds: Music from Final Fantasy
Orpheum Theatre, 7:30 p.m.
Grammy Award-winner Arnie Roth leading the VSO in a sensational multimedia concert experience
www.vancouversymphony.ca/event/distant-worlds-music-from-final-fantasy

April 15
Sharon Minemoto Trio & Jill Townsend Jazz Orchestra
The Annex, 823 Seymour St., 7:30 p.m.
Highly accomplished Vancouver jazz greats together in concert
www.eventbrite.ca/e/vim-presents-sharon-minemoto-trio-jill-townsend-jazz-orchestra-tickets

April 16
Vancouver Sun Run 10K
Downtown Vancouver
Canada’s largest 10K run and its scenic course through the city — starting time 9 a.m.
www.vancouversunrun.com

April 18
ABRA Cadabra — A Tribute to ABBA
Kay Meek Arts Centre, West Vancouver, 7:30 p.m.
World-class tribute to the much-loved Swedish supergroup
kaymeek.com/events/abba-tribute-0418

April 22-23
West Side Story Film with VSO
Orpheum Theatre, Saturday, 7:30 p.m., Sunday 2 p.m.
Bringing Leonard Bernstein’s electrifying score alive with the Vancouver Symphony Orchestra
www.vancouversymphony.ca/event/west-side-story-film-with-orchestra-2

Until April 23
FlyOver Canada, featuring Hawaii From Above
In addition to the Canadian experience, some of Hawaii’s most iconic island sights; daily from 10 a.m. - 9 p.m. (purchase tickets online in advance)
www.flyovercanada.com

April 27-28
George Thorogood & The Destroyers
Commodore Ballroom, Thursday 7 p.m., Friday 11 p.m. 
For 45 years, a consistently passionate group of blues-based rock and pop entertainers
rock101.com/event/5794/george-thorogood-the-destroyers

April 26
Gipsy Kings
Orpheum Theatre, 7 p.m.
A group that hails from Southern France, playing music with a definite Spanish culture — salsa, rumba, flamenco, mixed in with a substantial dose of pop
www.vancouver-theatre.com/theaters/orpheum-theater/gipsy-kings.php

Until September 4
Nature’s Ninjas: Defenses of the Animal Kingdom
Vancouver Aquarium, Stanley Park
In addition to the amazing aquatic displays, the newest interactive exhibit of 17 animal habitats, highlighting the defensive mechanisms of the animals
www.vanaqua.org

Until March 2024
A Wild & Wet Coast: Rum Running During Prohibition
Vancouver Maritime Museum
An exhibit that explores the “rum running” experiences and adventures of British Columbians during the 1920s and 1930s
vanmaritime.com/featured-exhibitions

ONGOING  EVENTS

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

Forbidden Vancouver Walking Tours
Downtown Locations

Highly recommended, guided walking tours, a combination of storytelling, theatre and local history 
forbiddenvancouver.ca

Sea to Sky Gondola
Squamish
Spectacular Sky Pilot suspension bridge walking trails, the Via Ferrata adventure and many other mountain-top activities

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

Worldwide Webcams
A website catering to people who want to travel, virtual visits everywhere with webcams from Argentina to Zanzibar, and many places in between
skylinewebcams.com

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

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. (in person and live-streamed)
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

Get In Touch

Dale Clark

Phone: 604-720-3353

EMAIL

Office Info

Nexus Realty Corp

West Vancouver,  BC 

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