IN THIS ISSUE:
• The right time to sell and the right time to buy?
• Market moving into more traditional territory — REBGV
• News this month: Renovations award for Nofziger Construction
• Cruise ships in the Inlet — see what day and what time
• Decor: How to make outside more special for the summer
West Vancouver listing at the right price
A West Vancouver home newly listed on MLS® by Nexus Realty is on the market because the homeowner believes this is the right time to sell. This two-bedroom condo is in the heart of the city, on Duchess, just a block from Marine Drive and all that it has to offer. And it's ready to move in now. Besides its prime location in a great building — The Mermaid — It comes with 
lots of extras...like two underground parking spots, updated never-been-used kitchen cabinets, stainless steel appliances and new bathrooms, flooring, plus a large locker. It's on the north-east corner, the ninth floor and has several views — mountains, Sentinel Hill, a peek-a-boo water view. It’s listed for $1,029,000. As with all Nexus Realty listings, it is competitively priced in today’s market. And what is today’s market?
lots of extras...like two underground parking spots, updated never-been-used kitchen cabinets, stainless steel appliances and new bathrooms, flooring, plus a large locker. It's on the north-east corner, the ninth floor and has several views — mountains, Sentinel Hill, a peek-a-boo water view. It’s listed for $1,029,000. As with all Nexus Realty listings, it is competitively priced in today’s market. And what is today’s market? Timing is everything, especially when being active in real estate. As Kenny Rogers used to sing “Buy low, sell high, and slow dance more” and if there is a formula existing for how to do that…well, it just doesn’t exist.
So you try to pick the right time to sell, and the right time to buy. Doing that in a market like the current one, a market that has been going up for years now, makes it challenging.
There are no “experts” who have all the answers.
On one hand, the Royal Bank of Canada in a recent report calculated that the total cost of home ownership is currently at “its highest level compared to median incomes since 1990.” That should indicated a softening of the market.
On the other hand, housing prices for prime apartments in Vancouver and Toronto — according to National Bank Financial estimates — are lower than similar properties in other cities, such as Stockholm, Boston and Berlin. That should indicate Canada’s “unaffordable” home prices are at least in line with other advanced economies.
Home prices are the result of supply and demand. Hundreds of articles have been written in the last year or so, at least, about the housing shortage in Canada, and specifically in the Lower Mainland. The demand has exceeded the supply and there is little to indicate that will change any time soon.
Here is why:
The Federal Government has an immigration target of 400,000 people a year, with the Vancouver area a prime destination. Meanwhile, there are fewer homes being built than there were 40 or 50 years ago and current estimates speculate there will be about 200,000 new units each year.
When you do the projected math, 400,000 are residents and there are 200,000 new homes, so it’s logical to predict that the price of home ownership Canada is unlikely to change drastically.
That upward pressure has moved the benchmark price for all homes to $1,360,500 for all homes — $2,118,600 for detached homes, $1,138,300 for attached homes and $835,500 for apartments. (Note: The benchmark price is the estimated sale price of a benchmark property…i.e., a typical property within each market.)
Dylon Nofziger, an enterprising builder who has been featured in earlier issues of News From Nexus has an award to add to his credentials. His company, Nofziger Construction, won the prestigious Haven Award for “best renovation under $200,000.” The awards are given annually for housing excellence by the Homebuilders Association Vancouver, and you’ll be reading more about Dylon’s current project in upcoming issues.
Ships cruise on the doorstep at Palmerston
It can be called home optimization, and it seems to be gaining in popularity simply because more people are staying home, travelling less and moving their travel budget “outdoors” to make being at home more inviting and pleasant.
Return to normal on the market's horizon?
Listings and sales down, prices up and an indication that real estate is creeping back towards “traditional” levels.
That’s the analysis from the Real Estate Board of Greater Vancouver in its monthly statistical review of the state of the market in Metro Vancouver, and it comes with this message:
“
With interest rates climbing and the total inventory of homes for sale inching higher, it’s important to work with your local realtor to understand how these factors could affect your home buying or selling situation.”
Home sales were down compared to last April (34.1 per cent) and to this March (25.6 per cent), monthly sales were almost the same (1.5 per cent higher) compared to the 
10-year sales average for April. It’s the first time in 2022 that sales figures have been close to the 10-year average. For the first three months of the year, it was more than 25 per cent higher.
10-year sales average for April. It’s the first time in 2022 that sales figures have been close to the 10-year average. For the first three months of the year, it was more than 25 per cent higher.
The REBGV explained:
“So far this spring, we’ve seen home sales ease down from the record-breaking pace of the last year. While a small sample size, the return to a more traditional pace of home sales that we’ve experienced over the last two months provides hopeful home buyers more time to make decisions, secure financing and perform other due diligence such as home inspections.”
Actually, it’s only April that is the small sample size because March’s residential home sales — according to the REBGV — was the “highest-selling month in history” and 25.5 per cent more than the 10-year average. That wouldn’t be considered a traditional pace.
New listings in April totalled 6,109 in Metro Vancouver, a decrease of 23.1 per cent from April 2021 and 8.5 per cent from March 2022. Total number of homes for sale is now 8.796, down 14.1 per cent from a year ago and down 15.3 per cent from last month.
In its statement, the REBGV said: “We’re still seeing upward pressure on prices across all housing categories in the region. Lack of supply is driving this pressure. The number of homes listed for sale on our MLS® system today is less than half of what’s needed to shift the market into balanced territory.”
That upward pressure has moved the benchmark price for all homes to $1,360,500 for all homes — $2,118,600 for detached homes, $1,138,300 for attached homes and $835,500 for apartments. (Note: The benchmark price is the estimated sale price of a benchmark property…i.e., a typical property within each market.)
For a look at sales, listings and benchmark pricing in West Vancouver, North Vancouver, Vancouver West and Vancouver East, see the statistics graphics later in this newsletter.
What’s in the news this month
Dylon Nofziger now an award-winning builder:
Dylon Nofziger, an enterprising builder who has been featured in earlier issues of News From Nexus has an award to add to his credentials. His company, Nofziger Construction, won the prestigious Haven Award for “best renovation under $200,000.” The awards are given annually for housing excellence by the Homebuilders Association Vancouver, and you’ll be reading more about Dylon’s current project in upcoming issues.City of Vancouver increasing empty homes tax:
With unanimous backing from city councillors, Vancouver Mayor Kennedy Stewart increased the empty homes tax from three to five per cent. The tax was implemented to ease the city’s vacancy rates and the mayor called it a “big blow to housing speculators.” A vacant home worth the benchmark price of $1.36 million will be taxed, annually, for $68,000. The tax was introduced in 2017.Golden Girl's principal home now for sale in California:
The “lovingly cared-for home” owned by Golden Girls star Betty White in Brentwood Park, California is on the market for $10.5 million. She bought the 60-year-old home in 1968 and while it has five bedrooms and six bathrooms, Sotheby’s is now selling it for “land value.” Her other residence, a beach home in Carmel, sold after her death on December 31 for $2.8 million over asking price!Ships cruise on the doorstep at Palmerston
How interesting is this, to look out from your deck and see a beautiful mega ship like the Norwegian Bliss on your doorstep? That’s precisely the view that the new owners of 2480 Palmerston Avenue saw in deciding to make what became an accepted offer on the newly-listed West Vancouver home.
Besides the Bliss, a four-year-old mega ship that carries 4,000 passengers, there are many big ships coming to and sailing from Burrard Inlet this year. The entire list (subject to change if conditions do) is always available here at nexusrealtycorp.com:
Outdoor Decor: more appropriate this year
Eighth in a Series
Every month, News From Nexus features ideas or observations about Decor, or ways you can make your home more appealing.
It can be called home optimization, and it seems to be gaining in popularity simply because more people are staying home, travelling less and moving their travel budget “outdoors” to make being at home more inviting and pleasant.
Need some decor suggestions?
Start by thinking about how your space — whether it’s a spacious backyard with lots of room or a modest balcony — is going to be used by you. Become an “exterior designer” and be creative with the look of your outdoor space.
Say you have a balcony or deck where you spend a lot of time. Say you like to read while enjoying fresh air and sunshine. Create a reading nook, a private place where you can sit in peace and quiet, and get lost in a book. Make it into a place that is inviting, and special just for you.
Or perhaps you are an entertainer, and you need lots of space for lots of people. Things to focus on when creating an attractive place to barbecue and share meals are 
walking space (ideally wider than a metre, or four feet), a deck that is visually pleasing (mineral-based composite decking?) and comfortable, multi-purpose furniture (perhaps armless sectionals that can be easily arranged to suit the occasion).
walking space (ideally wider than a metre, or four feet), a deck that is visually pleasing (mineral-based composite decking?) and comfortable, multi-purpose furniture (perhaps armless sectionals that can be easily arranged to suit the occasion).
If you’re keen on matching colours, look around. Use material and paint that picks up the colours of your fencing, your trees or shrubs, or your flowers. When starting from scratch, think about using two or more colours for your decking, fencing, furniture and or features like planters or water features. Outdoors is your palette.
And remember the light. If it’s natural light, be aware of the shady spots and plan accordingly, whether you want to be cool or warm. If it’s artificial light, think about those evening dinners on the deck that replace some of those restaurant experiences.
These thoughts just scratch the surface of what you can do, and everybody has different priorities, so maybe the best place to start is to make a list of yours. If you’re intending to spend more time than usual outdoors this summer, you want it to be as pleasant as possible. Go to the places, figuratively speaking, that you enjoy the most…just like you do when planning a vacation.
That, in October 2013, Mark Zuckerberg purchased four homes adjacent to his Palo Alto, California home and leased them back to the owners after hearing a developer planned to buy one and build a mansion that would be marketed as “next door to Mark Zuckerberg” — he paid $30 million for all four?
Photo credits: Decor outdoors: collov-home-design, Unsplash
— City view: Vernoica Dudarev, Unsplash
891 165 Street, White Rock, South Surrey
$1,698,000
903 - 1485 Duchess Avenue, West Vancouver
$1,029,000
2480 Palmerston Avenue, West Vancouver
1752 Duchess Avenue, West Vancouver
Real Estate Monthly Statistics
The following statistics for West Vancouver, North Vancouver, Vancouver West and Vancouver East compare April 2022 to April 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 May throughout the Lower Mainland, with protocols included as currently known.
Until May 8
Art Vancouver — International Art Fair
Vancouver Convention Centre
Western Canada’s largest contemporary art show, features 1200 works.
artvancouver.net
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)
https://www.vanaqua.org
Until May 8
Vancouver Opera, HMS Pinafore
Queen Elizabeth Theatre, Vancouver
Gilbert and Sullivan’s wildly popular comedic tale delivering a memorable experience
www.vancouveropera.ca
Until May 28
North Van Arts: Spring Workshops
Classes in printmaking, fabric printing, introduction to drawing, writing and more,. for all ages, interests and abilities — in-person classes at Maplewood House, online options available
northvanarts.ca
Art Vancouver — International Art Fair
Vancouver Convention Centre
Western Canada’s largest contemporary art show, features 1200 works.
artvancouver.net
On now
The Great Salmon Run 4D ExperienceVancouver 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)
https://www.vanaqua.org
Until May 8
Vancouver Opera, HMS Pinafore
Queen Elizabeth Theatre, Vancouver
Gilbert and Sullivan’s wildly popular comedic tale delivering a memorable experience
www.vancouveropera.ca
Until May 28
North Van Arts: Spring Workshops
Classes in printmaking, fabric printing, introduction to drawing, writing and more,. for all ages, interests and abilities — in-person classes at Maplewood House, online options available
northvanarts.ca
Until June 5
Alegria, Cirque du Soleil
Under the Big Top, Concord Pacific Place
An iconic Cirque production with acrobatics, costumes, vibrant sets, all told with delightful humour
www.destinationvancouver.com/event/cirque-du-soleil
May 12-14
What If: Ballet BC
Queen Elizabeth Theatre
Closing out the current Ballet BC season with three different and distinctive performances, nightly at 8 p.m..
balletbc.com
May 15
Spot Prawn Festival
False Creek Fishermen’s Wharf
A celebration of the iconic BC spot prawn, presented by the Chef’s Table Society in a family-friendly event with live music, cooking demonstrations and more (tickets required for food purchases)
www.destinationvancouver.com/event/spot-prawn-festival
May 16-22
Vancouver International Wine Festival
Vancouver Convention Centre
Over 20 different and inviting events scheduled, with wines available from around the world at what's billed as one of Canada’s best wine festivals
vanwinefest.ca/events
May 19
Stars on Ice
Rogers Arena
An all-new production, “Journey,” featuring some of Canada’s figure skating icons, 7 p.m.
www.ticketmaster.ca/stars-on-ice
May 20
Candlelight: A Tribute to Abba
Kerrisdale Presbyterian Church
The Listeso String Quartet, performing all the hits of Abba in a beautiful, candlelit venue, 7 p.m.
feverup.com
May 24-June 19
Broadway Across Canada presents Hamilton
Queen Elizabeth Theatre
The story of American founding father Alexander Hamilton, a Grammy and Tony-winning production that has had a profound impact on culture, politics and education
vancouver.broadway.com/shows/hamilton
May 29
Vancouver MS 5km Walk
Start: False Creek North
Back after a pandemic hiatus, with proceeds from this 5km walk to benefit the MS Society, 11 a.m.
https://msspwalk.donordrive.com
May 31-June 12
Vancouver International Children’s Festival
Granville Island and online events
Performances by local, national and international children’s entertainers, including one of Canada’s most beloved, Fred Penner
children’s festival.ca
Until June 26
FlyOver Canada: The Real Wild West
Some of America’s most iconic locations…Lake Tahoe, Zion National Park, the Las Vegas Strip and the Grand Canyon, all without leaving Vancouver, from 10 a.m-9 p.m. daily (tickets online in advance)
flyover canada.com
Until August 31
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
Vancouver MS 5km Walk
Start: False Creek North
Back after a pandemic hiatus, with proceeds from this 5km walk to benefit the MS Society, 11 a.m.
https://msspwalk.donordrive.com
May 31-June 12
Vancouver International Children’s Festival
Granville Island and online events
Performances by local, national and international children’s entertainers, including one of Canada’s most beloved, Fred Penner
children’s festival.ca
Until June 26
FlyOver Canada: The Real Wild West
Some of America’s most iconic locations…Lake Tahoe, Zion National Park, the Las Vegas Strip and the Grand Canyon, all without leaving Vancouver, from 10 a.m-9 p.m. daily (tickets online in advance)
flyover canada.com
Until August 31
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
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)
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
Britannia Mine Museum — BOOM!
An award-winning live action attraction inside the historic mine
www.tourismvancouver.com/listings/britannia-mine-museum
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
Britannia Mine Museum — BOOM!
An award-winning live action attraction inside the historic mine
www.tourismvancouver.com/listings/britannia-mine-museum
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)
