Do you want your home to have a higher value?

Maybe one should not give an opinion. There is always someone (or a number of someones) who think that you are a secret agent of the "taxman" (first cousin of the "Antichrist"). Rightly or wrongly (and for some - sadly) their homes have gained value in the eyes of those others who would wish to own homes such as these that we own. Instead of saying, "gosh, am I (we) not fortunate to have had the foresight (or "accidental ability") to have acquired this home BEFORE the growth spurt" some complain that the Province has "tumbled" to their inadvertent scheme to increase their overall wealth and has the temerity to suggest that they should pay a slightly higher level of property taxes. Property taxes that pay for the hospitals, the schools, the roads, the parks, the policing, the garbage and recycling collection (which we wholeheartedly endorse).

I have a sneaky suggestion for those who are being taken advantage in such a blatant way. Cease being a home owner in this municipality and let some other sucker take over this ridiculous and clearly unfair burden. That'll teach them and simultaneously relieve us of the burden.

Is the budget that the municipality has proposed on the part of the homeowner and resident of the municipality so ridiculous? Are there cheaper providers of the garbage services, the road builders, the street light erectors, the street curb makers etc, etc that these naive municipal employers and elected officials are purposefully ignoring? All that is being done is that a relative ranking order of attributed value of real estate is being proposed so that Fred who has a home valued at $768,200 is paying $8.35 per annum more that Jill whose home is valued at $767,050
....and, if you really think they have "got it wrong" you have (at the time of writing) approximately 4 days 14 hours and 27 minutes to appeal that injustice !

End Of August - which August - this last August!

Wow! - time flies. Our lives are so busy! Some hundreds of years ago someone wrote the following lines "The world is too much with us; late and soon, Getting and spending, we lay waste our powers; Little we see in Nature that is ours; We have given our hearts away, a sordid boon" - that person was the British poet William Wordsworth and I guess things must have changed muchly!! It is this "getting and spending" - clearly not a new concept; that strikes a chord with me. We're buying, selling, moving homes, drawing down loans, paying off debt. Acquiring new assets, changing cars, clothes, opinions. Significant maybe, that he says later in the same sonnet "For this, for everything, we are out of tune". Don't quite know what prompted this outburst - maybe I'd just be happy if there were 14% less cars on the road each time I try to cross over the bridge into Vancouver. There, a Realtor's musings! Alan.

Want A Rec Property? Buy or Rent as Needed?

My wife and I have just returned from a short break up in the Sunny (with occasional rainy patches!) Okanagan. Still got to play a couple of rounds of golf - so stop complaining! While there we popped into a couple of open houses - display centres (yes I do this occasionally on holiday!) just to get a feeling for what a vacation condo - either apartment or townhouse/duplex would cost. Two issues everyone faces here - 1) is there a unit in one's price and expectation range that would work and then 2) most importantly - does it make sense to lay out the necessary cash (from resources or by financing - or a combination) to own this item. What are the real issues here? Unless you have lots of cash sitting in your various bank accounts, and you won't miss a mere $400/500K and the monthly commitment to Strata fees and the annual tax payment; the main consideration is, how much will we, our family and friends get to use this? I believe that this is the single most hazy factor in the decision and that most folk will admit, in hindsight, that they overestimated this. The second part of this question is "Will we want to spend almost all our future holidays here, or will we get bored and want more variety?" To mitigate against the underuse, there is the possibility of renting to friends/ acquaintances and even total strangers. Will that income be sufficient to offset your costs or, as the economists will say "opportunity costs". The third factor is clearly, How much appreciation will this asset have in the next few years, the next 8 years or the next 20 years? Are they still building lots of these type of units? Will they still be popular in the future (i.e. will there be a demand)? The alternative is to pay the $200/night or $400/night needed to rent as needed. This brings with it the flexibility of going somewhere else next time!!

BTW we did see one that took our fancy but when we weighed it up we felt that we would'nt get enough personal use (we obviously work too hard!!) and/or it would not carry itself from the rental proceeds (option to place in "rental pool"). So, we'll carry on thinking - like so many folk - "would'nt it be nice to have.......?"

A NEW THING!

I guess they say that you should try something new every now and then (especially as you creep into the second half of your own century!) - so here goes. I've never blogged about my listings, BUT I'm going to do it with this one. It's something a little more unique. It is a duplex located in Lower Lonsdale and what makes it more special is that there are very, very few of these listed for sale at any one time. Like some, it is an "up and down" type. This simply means that it is not the "side by side" variety but has two separate entrances to two legally separate units - #467 and #469 to be precise! The address is 467 East 1st Street - four blocks to the left of Lonsdale assuming that you're heading south down Lonsdale Ave towards the water. The asking price is $784,000 and my phone has been ringing solidly since it hit the MLS on Thursday AM. The first showing is on Open House from 2 - 4pm on Sunday June 3rd. See you there - Oh, and by the way take a look at the OBEO tour on my website www.OnTopOfTheMarket.ca - featured listings. See you there digitally and hopefully in person on Sunday!! Otherwise call me for a showing. Cheers, A

The Question Sellers Ask Most

What a busy week! Who said North Vancouver and West Vancouver were quiet? Two evaluations in the past 3 days and one inspection and a subject removal...and all that after running 13 miles with the North Shore Athletic "Run Club" on Sunday. Roll on the Vancouver Sun Run and then The Vancouver Half Marathon in early May.
So... the question. When we are contemplating sale of our home (a big decision); after we have crossed the "should we sell" bridge comes the last hurdle (and the question), possibly designed to put the brakes on any rash and impetuous move is the conundrum of "Is this a good time to sell?" and more generally the big one - "When is the best time to sell?" Now, I know that my past clients and those who know me know what I'm going to say. Here it is and I'm sorry if it sounds facetious but it is the best advice I can give and part of that maximizing of return that we seek. The best time to sell (no, not a specific month when the crocusses appear or the sun lights up all the corners of our garden) is when there are lots of buyers (high demand) and less competing homes on the market (limited supply). Ah, yes you say, obviously, but how will I know that? Ask a knowledgeable and experienced Realtor - the demand at any one time can be sensed and deduced from current activity (recent sales/attendance at open houses/busy mortgage brokers/busy inspectors etc) and the supply is a matter of fact - how many detached/townhomes/apartments are currently for sale vs. last month/last year? If you're wanting advice in a location other than the North Shore, I'll be happy to refer you to a reliable/experienced Realtor. Call me.

Compromising in North Vancouver and West Vancouver!

I often said that the one thing that we as human beings did well was to rationalize our ultimate wishes and settle for that "something a little cheaper/pricier", "less of a view", "not as big a yard", "smaller" etc. This ability to compromise is paramount 'cos we would never be satisfied if we didn't (unless your name is Gates, Bronfman or Rockerfeller!). Why this has come to mind at this moment is an interesting comment I've just read about densification and the proposal that the dream of each one owning a 3 bedroom/ 2 bathroom house on a stand alone piece of land in Greater Vancouver may well be the latest dream to be "compromised" - or has that been happening for some time and we haven't been ready to admit it? What do you think?

Successful, I'll Say! North Vancouver home in demand.

I said I'd give a follow up once the Central Lonsdale home was sold. Well, it is. As of 6:45pm last evening. Three offers were presented. One Surrey based Realtor and two local North Shore practitioners. And the final verdict on this 29 year old home? A mere $785,000! Almost $70k above asking.The new family moves in by mid year. This is not a stand alone "multiple" offer situation as I am aware of some 4 or 5 since last weekend. North Vancouver and West Vancouver are seeing a strong surge of demand and homes that have been on the market for 4 plus weeks are now being spoken for. 8/9% over asking and, what, 10/15% over its likely value this time last year?? Who knows that one for sure? ...but North Shore Real Estate is clearly a prized commodity!!