IN THIS ISSUE:
• What's happening in the 'real' real estate world
• News from living on water...to property rights
• Decor: Window coverings and their priority
• REBGV statistics — messages sometimes overlooked
• Events and entertainment for November
Lower Mainland real estate sales fuelled by…life
If you know of pessimists who think the real estate market is in trouble, you might share this story because it is enlightening, or at least intriguing. The people mentioned are hypothetical. The situations are not.
A family in China is planning a move to Canada to buy a home, not as an investment but because it’s where the family plans to live. These people are among the estimated 
300,000 living in Hong Kong with the legal right to live in Canada as permanent residents, and there are another 200,000 Canadian citizens who have the legal right to return. For many, their destination of choice is Vancouver.
300,000 living in Hong Kong with the legal right to live in Canada as permanent residents, and there are another 200,000 Canadian citizens who have the legal right to return. For many, their destination of choice is Vancouver. Life goes on.
A situation changes for a couple living in the City of Vancouver. The first child arrives, the mother is going on maternity leave and the father has a new job that is not close to downtown. They are moving to the Fraser Valley, because that’s what makes sense.
Life goes on.
On the North Shore, the last child leaves for university and, suddenly, the nest is empty. All that space is no longer required for a family of two. It’s time to sell the family home and move into something more suited to the family needs.
Life goes on.
The point of these hypothetical situations is that sellers sell homes and buyers buy homes, in spite of interest rates, in spite of where home prices are and in spite of inflation. Situations change — changes in employment and births as well as deaths or marriages and divorces — and people are going to move.
Yes, life goes on.
In the case of the immigration of home owners from China, there are reasons to believe it’s already underway, and these people are not “foreign buyers” who next year will be deterred or forbidden from buying Canadian real estate. These are people who will bebuying Canadian homes for their own use and, naturally, part of the attraction is the combination of nice weather and quality of education for their children. They are unlikely to be deterred by a “slow” market.
Vancouver is the jewel of destinations, and not just for people moving from China.
As the President and CEO of Sotheby’s International Realty Canada, Don Kottick, told Business In Vancouver:
A situation changes for a couple living in the City of Vancouver. The first child arrives, the mother is going on maternity leave and the father has a new job that is not close to downtown. They are moving to the Fraser Valley, because that’s what makes sense.
Life goes on.
On the North Shore, the last child leaves for university and, suddenly, the nest is empty. All that space is no longer required for a family of two. It’s time to sell the family home and move into something more suited to the family needs.
Life goes on.
The point of these hypothetical situations is that sellers sell homes and buyers buy homes, in spite of interest rates, in spite of where home prices are and in spite of inflation. Situations change — changes in employment and births as well as deaths or marriages and divorces — and people are going to move.
Yes, life goes on.
In the case of the immigration of home owners from China, there are reasons to believe it’s already underway, and these people are not “foreign buyers” who next year will be deterred or forbidden from buying Canadian real estate. These are people who will bebuying Canadian homes for their own use and, naturally, part of the attraction is the combination of nice weather and quality of education for their children. They are unlikely to be deterred by a “slow” market.
Vancouver is the jewel of destinations, and not just for people moving from China.
As the President and CEO of Sotheby’s International Realty Canada, Don Kottick, told Business In Vancouver:
“Real estate as an investment is also a great place to put your money, but first and foremost it’s the standard of living of Canada that will continue to attract immigrants, not just from China but from all over the world.”
The market is seriously short on supply, which is what causes a shortage of sales. In September, sales declined across Canada for the eighth consecutive month, and is now just 50 per cent of what sales were at the peak of the pandemic. Yet the demand for buying homes is still there and that’s unlikely to change because…
Life goes on.
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Meanwhile, in other news this month...
Meanwhile, in other news this month...
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're not likely to see on TV or in the mainstream newspapers.
Pay $200 to live on the water in City of Vancouver?
Vancouver Is Awesome’s Allie Turner wrote that Facebook Marketplace has an offer to live on a 28-foot boat for monthly rent of $200*. The asterisk (*) means $200 plus moorage fees and electricity. Further research determined only two places in the City of Vancouver allow it, both in False Creek, and the final cost is more like $1,000 a month. It all became academic: Both marinas have a 10-year waiting list.Supreme Court ruling: Property rights tradition trumps Charter
Canada’s Charter of Rights does not contain a clause protecting property rights, as do most comparable bills around the world, which many have interpreted as no protection from governments’ taking away property. However, in what is being called its most important statement on property rights in decades, the Supreme Court ruled (5-4) that an ancient common law rights tradition which preceded the 1982 Charter does include property rights and continues in force.
Statistics indicating Metro Vancouver market stabilization
In all the messaging that comes with the Bank of Canada’s ongoing increases in interest rates, it’s easy for other messages to get lost. That may be true in the latest monthly statistics release from the Real Estate Board of Greater Vancouver. For example, “recovering” might be the right word for the state of Metro Vancouver real estate. According to the latest statistics, there are 22.6 per cent more listings than last October, about the same number as September 2022 (9,852 vs 9,971)…and sales increased by 12.8 per cent compared to September.
Another applicable word could be “stabilizing.” The sales-to-active-listings ratio — for all three property types — is a stable 19.3 per cent. Analysts say downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months. So it’s right in the range of what makes for a stable market, and all three categories (detached homes, townhomes and condos) fall within that window.
Also overlooked could be the importance of buying with the current market conditions. While interest rates have been on the rise, the Bank of Canada has already indicated they’ll go up again the first week of December.
As the REBGV puts it:
“It has become even more important to secure financing as early in the process as possible. Recent years have been characterized by a frenetic pace of sales amplified by scarce listings on the market to choose from. Today’s market cycle is a marked departure, with a slower pace of sales and more selection to choose from. This environment provides buyers and sellers more time to conduct home inspections, strata minute reviews, and other due diligence.”
In October, there were 575 detached homes sold in Metro Vancouver. That’s a decrease of 47.2 from last October but almost the same (0.7 per cent decrease) from September 2022. The corresponding figures for townhomes are 333 (sales), 44.8 per cent decrease (from October 2021) and 0.5 decrease (September 2022). For apartments/condos, 995 were sold, a 44.8 per cent decrease (October 2021) and 12.0 increase (September 2022).
In all categories, sales are near all-time lows, and October’s total was 33.3 per cent below the 10-year average for the month. There were 4.033 new listings in October, compared to 4,229 in September, for all three categories.
Slowly, the real estate market appears to be on the road to “recovering” and “stabilizing."
Another applicable word could be “stabilizing.” The sales-to-active-listings ratio — for all three property types — is a stable 19.3 per cent. Analysts say downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months. So it’s right in the range of what makes for a stable market, and all three categories (detached homes, townhomes and condos) fall within that window.
Also overlooked could be the importance of buying with the current market conditions. While interest rates have been on the rise, the Bank of Canada has already indicated they’ll go up again the first week of December.As the REBGV puts it:
“It has become even more important to secure financing as early in the process as possible. Recent years have been characterized by a frenetic pace of sales amplified by scarce listings on the market to choose from. Today’s market cycle is a marked departure, with a slower pace of sales and more selection to choose from. This environment provides buyers and sellers more time to conduct home inspections, strata minute reviews, and other due diligence.”
In October, there were 575 detached homes sold in Metro Vancouver. That’s a decrease of 47.2 from last October but almost the same (0.7 per cent decrease) from September 2022. The corresponding figures for townhomes are 333 (sales), 44.8 per cent decrease (from October 2021) and 0.5 decrease (September 2022). For apartments/condos, 995 were sold, a 44.8 per cent decrease (October 2021) and 12.0 increase (September 2022).
In all categories, sales are near all-time lows, and October’s total was 33.3 per cent below the 10-year average for the month. There were 4.033 new listings in October, compared to 4,229 in September, for all three categories.
Slowly, the real estate market appears to be on the road to “recovering” and “stabilizing."
Statistics for the markets of West Vancouver, North Vancouver, Vancouver West and Vancouver East are graphically displayed below, as always.
The active micro-market that's West Vancouver
If you’ve been reading News From Nexus, then you will known that the “big” real estate market is made up of mini-markets or, more accurately, micro-markets. One such micro-market that has been especially active this year is: West Vancouver condos (apartments).
In the last six months, depending on which dates you use as parameters, there have been 87 condos sold in West Vancouver. You can see by the “recently sold” section of this newsletter that there is almost always at least one West Vancouver condo that was sold by Nexus. This month, there are two — both on Duchess Avenue, which is especially active.
During that time, the shortest number of days a condo has been on the market is zero days, and the longest is 132 (just over four months) The average time a West Van condo spends on the market before selling has been 30 days.
Selling one is, however, not simply a matter of listing it and, boom, there’s a buyer…and that’s almost always the case with any property. It happens, but more often it takes time not only from when it’s listed but in advance of that.
There are many facets to a realtor’s work. For example, sometimes it’s advisable to “stage” a condo — or any property for that matter. This can
mean (1) re-arranging or replacing furniture (2) outfitting an empty condo to repairing or painting walls (3) generally making a property more attractive (4) making sure there is no troublesome moisture, anywhere (5) trimming a hedge or cutting down a tree (6) fill in the blanks.
To do those things, the realtor has to have connections to the right trades people, and to co-ordinate what’s required or advisable.
How important is it?
Here’s one example: one home owner decided to spend about $30,000 updating a property, which sold for close to $350,000 more than expected. The return on investment isn’t always like that, but it can be.
The realtor also needs to be capable of dealing with house inspectors and the results of their inspections. It’s important for the seller to have somebody qualified and confident working for them when issues are raised.
Your realtor has to be willing to go the extra mile…to “do the work.” In recent months, the negotiating power has shifted to the buyer, to the point where the perceived advantage for sellers to hold off listing is not an advantage at all. The home of one recent Nexus seller was shown to well over 100 people before there was an offer.
So it can take time to find the right buyer. It also helps to have the right property in an active micro-market…like West Vancouver condos.
That marketing old movie stars has been taken to a whole new level, because a home called Byrdview that Frank Sinatra lived in more than 60 years ago as a renter — not an owner — went on the market again last month in Los Angeles for $12.75 million (the current owner bought it in 1998 for $1.54 million)?
Decor: Safety first for window coverings
Every month, News From Nexus features ideas or observations about Decor,
or ways you can make your home more appealing.
Health Canada, a world leader in consumer product safety, for three decades has worked to reduce the risks posed by corded window coverings.
To help eliminate this hazard, Health Canada published regulations to restrict the length of cords and the size of loops allowed on window coverings, to avoid the possibility of their getting wrapped around a child's neck. The requirements for window coverings will apply to all products sold in Canada.
The new regulations came into force on May 1, 2021.
Parents and caregivers are strongly encouraged to replace existing corded window coverings with cordless options now on the market, in rooms and places where children go. If making an immediate switch isn’t feasible, then always keep cords out of children’s reach. The safest window 
coverings have no cords that you can see or touch.
coverings have no cords that you can see or touch.
In keeping with the regulations, there are almost-endless options designed for safety, decor and privacy, but also to keep light out, let light in, cover windows, accent windows and regulate temperature.
Honeycomb blinds
They get their name from their cell-like structure, and resemble a honeycomb when you look at it from the side. The cells trap air in the distinct pockets to help keep your home warm in winter and cool in summer.
Roller Shades
These ones roll up neatly at the top of your window when raised, and decorate your window with fabric when lowered. They have stylish patterns in a variety of textures and colours. Roller shades have become one of the leading window-covering trends, in part due to their minimalistic style.
Vertical Blinds
As the name suggests, they have vertical slats. In other words, vanes or slats that run top to bottom, generally with a ceiling track.
Horizontal Blinds
Horizontal blinds often suit tall, narrow windows. Small slats, some less that two inches, emit less light when open, though horizontal blinds are often left open partially to reveal either the top or the bottom of the window.
Shutters
Generally solid and stable, they usually consist of a frame of vertical rods and horizontal rails (top, centre and bottom). Within these frames you’ll find louvres, both operable or fixed, usually with panels of wood, plastic or fabric. Shutters can easily control the amount of sunlight entering a room, and provide privacy and security.
Recent studies have shown that 75 per cent of residential window coverings remain in the same position all day, every day.The better option would be to make use of the options that are available with your window coverings…for comfort, economy and energy efficiency.
On a sunny winter day, open your window coverings — especially those that receive direct sunlight — in the morning to allow the sun to heat your home through the day. Closing them later will conserve that warmth.
In the summer, keep window coverings closed to reduce heat gain. For windows that don’t get direct sunlight, keep those coverings open.
Some companies offer window coverings with automated options, making them easier to operate, especially when located in-hard-to reach places. Automated coverings make it easier when choosing whether to keep your window coverings open or closed.
"They sold our condo in the fall of 2018. They gave us so much good advice going into it. They really helped us with the prep, and made staging suggestions, mostly using what we had…we said that it had never looked so good! The photography was great, the brochure was really nice, and the Open Houses were easy. They’re the best!”
— Brian and Char Fox, Burnaby
Photo credits
Fall scene (Life Goes On story): Nathan Shurr, Unsplash; City skyline: Aditya Chinchure, Unsplash; West Vancouver condos: Video Openhouset; Decor (window coverings): Darren Richardson, UnsplashReal Estate Monthly Statistics
The following statistics for West Vancouver, North Vancouver, Vancouver West and Vancouver East compare October 2022 to October 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.
202-15765 Croydon Drive, South Surrey/White Rock
(working with buyer)
4695 Piccadilly North, West Vancouver
1102 - 1480 Duchess Avenue, West Vancouver
891 - 165 Street, White Rock/South Surrey
605 - 1480 Duchess Avenue, West Vancouver
2423 Mathers Avenue, West Vancouver
What's happening in November throughout the Lower Mainland, with protocols included as currently known.
Vancouver Canucks at Rogers Arena
November 1: vs New Jersey Devils, 7 p.m.
November 3: vs Anaheim Ducks, 7 p.m.
November 5: vs Nashville Predators, 7 p.m.
November 18: vs Los Angeles Kings, 7 p.m.
November 21: vs Vegas Golden Knights, 7:30 p.m.
November 29: vs Washington Capitals, 7 p.m.
www.canucks.com
November 3: vs Anaheim Ducks, 7 p.m.
November 5: vs Nashville Predators, 7 p.m.
November 18: vs Los Angeles Kings, 7 p.m.
November 21: vs Vegas Golden Knights, 7:30 p.m.
November 29: vs Washington Capitals, 7 p.m.
www.canucks.com
November 2
Dave Matthews Band
Rogers Arena
An American rock and jazz band, making its first Vancouver appearance in seven years; 7:30 p.m.
www.ticketmaster.ca/dave-matthews
Abbotsford Canucks at Abbotsford Centre
November 4: vs Coachella Valley Firebirds, 7 p.m.
November 5: vs Coachella Valley Firebirds, 7 p.m.
November 10: vs Henderson Silver Knights, 7 p.m.
November 12: vs Henderson Silver Knights, 7 p.m.
November 29: vs Bakersfield Condors, 7 p.m.
November 30: vs Bakersfield Condors, 7 p.m.
www.abbotsford.canucks.com
November 4-6, 10-20, 25-27
Cornucopia: Whistler’s Celebration of Food and Drink
Whistler Convention Centre
Whistler’s annual fall festival of food and drink, with educational seminars, chef’s demonstrations, signature events and winery dinners
www.whistlercornucopia.com
November 5
Portobello West: West Vancouver Holiday Market
2121 Marine Drive, West Vancouver
Holiday shopping early, with more than 30 B.C, artists, designers and producers; 10 a.m.-5 p.m.
portobellowest.com
November 5-6
Seniors Living Expo & Job Fair
Vancouver Convention Centre
Showcases products and services, as well as living and care options for B.C seniors, with information and interviews opportunities for working with seniors
seniorslivingexpo.ca
B.C. Lions at B.C. Place Stadium — Western semi-final
November 6: vs Calgary Stampeders, 1:30 p.m.
www.bclions.com
November 10 (7:30 p.m.) and November 11 (2 and 5 p.m.)
We Sang Our Songs: 31st Remembrance Day Concert
St. Andrews Wesley United Church
1022 Nelson St., Vancouver
A cherished annual Remembrance tradition, with Chor Leoni, honouring “those who sang their sons, so that today we all might sing ours”
chorleoni.org
November 10-December 24
The Sound of Music
Stanley Industrial Alliance Stage
One of the most delightfully romantic musicals of all time, set in pre-World War II Austria
artsclub.com/shows-sound-of-music
November 12
Bryan Adams: So Happy it Hurts Tour
Rogers Arena
The best-selling artist from North Vancouver, back home in concert; 8 p.m
www.ticketmaster.ca/bryan-adams
November 15-20
Jesus Christ Superstar
Queen Elizabeth Theatre
Celebrating 50 years of this iconic production that appeals to both theatre and concert lovers; 8 p.m. nightly with matinee shows on the weekend
vancouver.broadway.com/shows
November 19 to January 22, 2023
Capilano Canyon Lights
Capilano Suspension Bridge, North Vancouver
Experiencing the magical transformation of the iconic bridge into an enchanted Winter Wonderland, fun for the whole family; 11 a.m to 9 p.m. daily
www.capbridge.com
November 23-27
Disney on Ice: Road Trip Adventures
Pacific Coliseum
Round the World adventures, with favourite Disney characters leading the way; 7 p.m. nightly with matinee shows Fri-Sat-Sun
www.disneyonice.com/en-ca/road-trip-adventures
November 23 to December 31
Christmas Glow Langley
Glow Gardens, 6690 216 St., Langley
The magic of the Holiday Season, under more than a million twinkling lights; check various times on schedule
www.glowgardens.com/langley-christmas
November 25 to January 2, 2023 (except Christmas Day)
Festival of Lights
Van Dusen Botanical Gardens
Strolling along the lakeside, through the Rose Garden and other various themed areas, with tasty treats and holiday music (purchase tickets online); 4-10 p.m. — last entry 9 p.m.
vancouver.ca/parks-recreation-culture/festival-of-lights
ONGOING EVENTS
Until January 8, 2023
Beyond King Tut: The Immersive Experience
Vancouver Convention Centre East
An incredible journey to one of the greatest archaeological discoveries of all time, as well as to the wonders in modern-day Egypt; open at 10 a.m.
beyondkingtut.com/city/vancouver
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 a.m.
Until March 19, 2023
Keeping the Song Alive
Bill Reid Gallery
Through traditional music, contemporary art, film and historical documentation, an exhibit exploring the decades-long work of Dr. Ida Halpern and the late Kwakwaka’wakw Chiefs Billy Assured and Mungo Martin
Beyond King Tut: The Immersive Experience
Vancouver Convention Centre East
An incredible journey to one of the greatest archaeological discoveries of all time, as well as to the wonders in modern-day Egypt; open at 10 a.m.
beyondkingtut.com/city/vancouver
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 a.m.
Keeping the Song Alive
Bill Reid Gallery
Through traditional music, contemporary art, film and historical documentation, an exhibit exploring the decades-long work of Dr. Ida Halpern and the late Kwakwaka’wakw Chiefs Billy Assured and Mungo Martin
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
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
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.
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 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.
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
