Blog › March 2015

2014 Top Achiever Awards


We at Team 3000 Realty Ltd had the honour of awarding our top achievers at our first annual Red Carpet Awards Dinner this past Friday. 

The awards were: 

 

Achievement Award
“In grateful appreciation for your ambition and perseverance in 2014
Your dedication has not gone unnoticed”
Alex Almeida
Urszula Prondzinski
Joyce Wong


President’s Award
“Exemplary Sales Performance in 2014”
Dave Liu
Asad Syed
Belinda Pan
Kenneth Dixon
Debby Yao
Annette Denk
Bob Shadbakht
Hassan Tabanfar


Gold Award
“Outstanding Sales Performance in 2014”
Joyce Hubenig
Jordan Hurdal
Ben Ng
Sheron Hsiang


Platinum Award
“Excellent sales performance in 2014”
Charles Shapiro
Robert Alexander

It's an honour to support such outstanding professionals.

 Check back later in the week for some fun pictures of the evening!



Renos that make sense


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We all want our homes to look great. You know about regular maintenance but you might also want to renovate that tired bathroom or dated kitchen, or replace those older windows and redo the basement to create more living space. Here are six renos that may help to increase your home's value:

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Revamp the Bathroom. Every year the Appraisal Institute of Canada surveys its members and compiles a list of renovations that yield the best return on investment. Year after year refurbished kitchens and bathrooms head the payback list. An old toilet that's cracked or dirty or doesn't work properly is a turn-off. Vanities should be eye-catching and practical. Good lighting boosts value. Better yet - add a window if you can, to get natural lighting. If you want to save some money consider re-glazing the tub, rather than getting a new one. Bathroom upgrades can cost anywhere from $3,000 to $25,000 however may will recoup 75% to 100% of the initial cost.

 

Upgrade your Kitchen. This sits at the top of any reno list. It's the heart of a home and the room where families spend most of their time. So where do you start? This is the reno that can overstretch the budget because there is so much you can add. If you're adding high-end upgrades such as stainless steel appliances make sure they're not sitting on vinyl flooring or sitting against worn-out cupboards. Kitchen upgrades can cost anywhere from $5,000 to $75,000, however you may recoup 75% to 100% of the initial cost.

 

House needs a roof. This might not be the most exciting reno but it does have its perks. A dry house, for one. Curb appeal for another. Roofs aren't cheap but they last a long time. A new roof can cost anywhere from $10,000 to $30,000, however you may recoup 80% of the initial cost..

 

Try a coat of paint. This is your best bet to increase the value of your home. Paint is one of the easiest and cheapest things you can do to freshen up your home and add zip to it. A paint job will cost from $100 up to $4,000 for a large house, however you may recoup 100% of the initial cost.

 

Finish the basement. A finished basement is very attractive to buyers. Not only does it increase floor space but it can be a place for the kids and/or a place to put extra stuff. Basement renovations can cost from $3,000 up to $$50,000, depending on the size and what you add, however you may recoup 75% of the initial cost.

 

Go for new windows and doors. Doors and windows are the first impression visitors have of your home. You can boost curb appeal, lower heating and AC bills, and add value to your home by upgrading. New windows and doors will cost from $3,000 up to $25,000, for a large house, however you may recoup 75% of the initial cost.

 

Once you decide you want that new kitchen the next question is how to pay for it. In today's low interest market, your home equity is the first place to look. Today five-year variable rates are as lows as 2.2% and five-year fixed rates are as lows a 2.74%. A home equity line of credit may also work for you, depending on your personal situation.

 

Let's talk renos - call me today  

Crystal Lau

  Mortgage Consultant

  The Mortgage Group

  Tel.: 604-787-1043

  Fax: 604-629-6668

  cl@crystalmortgages.ca

  www.crystalmortgages.ca

 Whatever your borrowing circumstances are, I have options that work!!

 



Vancouver is the best place to live in North America


According to CBC News BC: 

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Vancouver is the best place to live in North America, according to Mercer's latest Quality of Living Rankings.

The West Coast city placed fifth worldwide for the second year in a row. In 2005 the study ranked Vancouver 3rd in the world.

The annual study looks at everything from climate to housing and the political and social environment when ranking 230 cities.

The top ranking for 2015 went to Vienna, followed by Zurich, Auckland and Munich.

"Vancouver is the highest-ranking city in North America and the region’s only city in the top 10," according to the study.

Vancouver was followed by Toronto at 15, and Ottawa at 16. The highest ranking U.S. cities trail behind with San Francisco at 27, Boston at 34 and Honolulu coming in at 36.

The study is done to help multinational companies and other employers compensate employees when they're given international assignments.

Seven European cities dominated the top 10, including Dusseldorf in the 6th place, followed by Frankfurt, Geneva and Copenhagen in 9th.

Europe dominates top 10

"Despite concerns about economic growth, the cities of Western Europe continue to offer a stable environment for employees and employers," the report said.

London, placed 40, and was the highest-ranking city in the United Kingdom.

Elsewhere, Singapore, placing 26th in the world, was the top place in Asia-Pacific. Dubai, in 74th place, was the highest-ranking place in the Middle East and Africa.

Baghdad, Iraq came in last place.

Data for the study was collected in the fall of 2014.

 



Lynn Valley Homes - Westlyn


A unique area on the North Shore, Westlyn is located in the Lynn Valley area. This area is comprised of many different styles of detached housing. The natural beauty of the North Shore mountains and Lynn Canyon has always been attractive to the locals. This is a great area to raise children because of its great schools, great shopping and ease of access to Vancouver and the rest of the Lower Mainland. A short drive on Highway One west and you are in Horseshoe Bay. A little further drive along the scenic Sea to Sky Highway and you are world renowned Whistler Village. 

Here is an example of the older, rancher style homes in the area.

 v1103980 101 94

 

For more information on this property please click here: http://www.team3000.ca/v1103980-1358-e-18th-st or for other properties like this one contact Louie Pulice (President, Team 3000 Realty Ltd) directly at 604-341-0006



Current Market Outpacing Historical Averages


Home buyer and seller activity outpaces historical averages in February

Conditions within the Metro Vancouver* housing market continued to strengthen in February as home sale and listing totals came in well above the region’s ten-year average for the month.

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The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 3,061 on the Multiple Listing Service® (MLS®) in February 2015. This represents a 21 per cent increase compared to the 2,530 sales recorded in February 2014, and a 60 per cent increase compared to the 1,913 sales in January 2015.

Last month’s sales were 20.2 per cent above the 10-year sales average for the month.

“It’s an active and competitive marketplace today. Buyers are motivated and homes that are priced competitively are selling at a brisk pace right now,” Ray Harris, REBGV president, said.

New listings for detached, attached and apartment properties in Metro Vancouver totalled 5,425 in February. This represents a 15.4 per cent increase compared to the 4,700 new listings reported in February 2014.

Last month’s new listing count was 11.8 per cent higher than the region’s 10-year new listing average for the month.

The total number of properties currently listed for sale on the REBGV MLS® is 11,898, an 11.3 per cent decline compared to February 2014 and a 10.1 per cent increase compared to January 2015.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $649,700. This represents a 6.4 per cent increase compared to February 2014.

The sales-to-active-listings ratio in February was 25.7 per cent. This is the highest that this ratio has been in Metro Vancouver since March 2011.

“We’re seeing more multiple offer situations and generally more traffic at open houses today,” Harris said. “In a market such as this, it’s important to do your homework and work with your local REALTOR® before embarking on your home buying and selling journey.”

Sales of detached properties in February 2015 reached 1,296, an increase of 25.6 per cent from the 1,032 detached sales recorded in February 2014, and an 84.1 per cent increase from the 704 units sold in February 2013. The benchmark price for a detached property in Metro Vancouver increased 9.7 per cent from February 2014 to $1,026,300.

Sales of apartment properties reached 1,244 in February 2015, an increase of 20.5 per cent compared to the 1,032 sales in February 2014, and an increase of 63.7 per cent compared to the 760 sales in February 2013. The benchmark price of an apartment property increased 3 per cent from February 2014 to $386,500.

Attached property sales in February 2015 totalled 521, an increase of 11.8 per cent compared to the 466 sales in February 2014, and a 56.5 per cent increase from the 333 attached properties sold in February 2013. The benchmark price of an attached unit increased 4.6 per cent between February 2014 and 2015 to $481,500.