Posted on
April 8, 2022
by
Marie Taverna
12515 Colemore Place Maple Ridge
Absolutely stunning 3 bedroom & 2 bath Rancher on a quiet cul-de-sac. From the moment you drive up you will be impressed.
Beautiful living room with lovely gas fireplace & bayed windows. Dining room with cabinet alcove. Bright & white kitchen cabinets, corian countertops & S/S appliances. Skylights for extra light.Breakfast bar & eating area nook.
Family room with 2 white glass cabinets. Sliders to covered patio for year-round enjoyment. Fenced cute yard for Fido & family.
Lovely primary bedroom with updated 3-piece ensuite. Other 2 good size bedrooms. Updated main bath. Beautiful easy-care floors.
Bonus flex room for a games room, media space, or a great home office business area. Lots of storage.
Eco paving on driveway and patio for easy care.
This home is beautifully decorated with all the extra touches. Truly a beauty. Call your Realtor today…
Listed for $1,350,000.00
http://www.listings.360hometours.ca/15796
Posted on
November 2, 2021
by
Marie Taverna
Welcome to 6 Brackenridge in Heritage Mountain.
Listed for $2,100,000.00
This fabulous executive home is just what you have been waiting for.
Located on a quiet street, this home has had many updates through the years.
Elegant living room & dining area.
The gourmet kitchen is the show piece of the main floor. Stunning wood cabinets, gleaming S/S appliances & shiny stone counters tops, large walk-in pantry would make a chef proud.
Large eating area & family room also finish this area. Large sundeck for bbqing or relaxing & taking in the beautiful greenbelt.
Upstairs boosts 3 bedrooms & 2 updated bathrooms.
The lower floor would make a great teen area or perhaps an in-law suite, with an updated bathroom.
Sliders leads to an extra-large patio.
Beautifully landscaped backyard has easy care green turf, perfect for the kids or Fido.
Truly a pleasure to show…
Posted on
November 2, 2021
by
Marie Taverna
REALTORS Care® Blanket Drive
After a year hiatus, the REALTORS Care® Blanket Drive is back! The less fortunate in our communities have been hit hard by COVID-19, and even with the light at the end of the tunnel, they need our help more than ever.
With vaccination rates rising, and new safety guidelines, we’re able to collect blankets, warm clothing, and new socks and undergarments starting November 15. These are the items we're looking for:
- warm clothing
- coats
- blankets
- new socks
- new underwear
Donations will be delivered to these charities.
Last year REALTORS raised $50,000 for our partner charities. The donations helped when they were at their lowest.
Funds are still tight, so we're doing this again. All proceeds will go directly to local charities that help keep those in need safe and warm.
Posted on
November 2, 2021
by
Marie Taverna
If you’re fortunate enough to own a home with a covered garage, you know how handy it can be to store things like sporting equipment, tools, off-season tires and boxes of holiday decorations. But if your vehicle is permanently parked outdoors because your garage has become a disorganized catch-all for countless boxes of unused items, it may be time for an intervention.
Heading into the fall, this is the perfect time to clean and organize your garage. Ideally, your garage can be a place where only necessary items live and everything has a home. Most importantly, it’s where your vehicle can be parked, away from extreme cold (and extreme heat), inches of heavy snow and thick layers of ice, which is an inevitability during Canadian winters.
Follow these helpful tips to get your garage in order before the cold weather hits!
- Set aside a reasonable amount of time (you’ll probably need an entire weekend) to purge and clean out your garage. Categorize items by those you will keep, donate or sell, and toss.
- Once your things are organized, give the garage a proper cleaning. Sweep and wash the floor and wipe down the doors and walls.
- Everything from tools to golf clubs to household items should have their own designated spot, and proper storage solutions are imperative to maintaining an organized garage. Measure how much space you will need to park your vehicle and safely open the doors.
- Once you know the depth you have to work with, install appropriate shelving or cabinets for organized storage. Keep items in clear bins on the shelves for easy access and safe keeping. Install wall hooks or peg boards to hang things like shovels and hoses. If space is limited, use overhead storage racks to keep items you don’t need to access often. Do your best to keep items off the ground to avoid water damage.
- Remove any items that should not be stored in a garage, like old paint, propane, unsealed food items that can attract animals, or important paperwork that can be destroyed by moisture.
- To ensure your garage stays clean and organized, make a point to ‘spring clean’ the space at least once or twice each year.
Stay in the habit of parking inside the garage. If you know the space in the centre is always occupied by a car, you will not be tempted to fill it up with miscellaneous items. Plus, parking inside can actually extend the life of your vehicle by protecting it from the elements.
Posted on
November 2, 2021
by
Marie Taverna
Before the cold weather sets in, make sure your home is winter-ready. Be sure to check these important tasks off your list.
- Clear leaves and debris from your eavestroughs to avoid clogging
- Winterize landscaping and remove leaves your lawn, as this can lead to rotting in the spring
- Drain and shut off all outdoor water supplies, including garden hoses, sprinkler systems and outdoor taps
- Seal your doors and windows with caulking or weather stripping to limit the amount of cold air that comes and hot air that can escape
- Clean and cover your air conditioning unit to protect it from snow and ice. This will help to increase the lifespan of your unit
- Clean and inspect your furnace, gas fireplace and dryer vents to avoid fires when the heat is turned on in the winter. And, don’t forget to replace old filters
- Cover your outdoor equipment and patio furniture to protect it from the elements
- If you have a working fireplace, clean and inspect your chimney before the first use of the season
- Seal cracks in your driveway to prevent water from seeping in, freezing and expanding
- Test your snowblower and other winter equipment in advance
- Replace the batteries in your smoke and carbon monoxide detectors, and test them to ensure they are working properly
- Check your fire extinguishers and replace them if they’ve expired
Posted on
November 2, 2021
by
Marie Taverna
Since the late spring of 2020, Canadian home prices have been rising at historic rates, following the onset of the global pandemic. Widespread lockdowns suddenly forced millions of workers and students to conduct their daily business from home. While the trend of working remotely was gaining in popularity in the years prior, the seemingly unending health crisis accelerated the movement, driving many Canadians living in major urban centres to trade in their cramped quarters for more space in smaller cities and rural communities.
The latest Royal LePage House Price Survey and Market Forecast shows price growth in Kingston’s single-family detached segment was the highest in the country, posting an increase of 46.5% year-over-year in the third quarter. Following Kingston, Ajax had the next highest year-over-year home price appreciation for the detached properties, rising 36.2% year-over-year; then, Langley (34.5%) and Greater Victoria (34.0%). Kingston also had one of the highest aggregate price increases nationwide (36%), second only to Saint John, New Brunswick (36.4%).
“Competition in Kingston’s housing market is incredibly high. Inventory has reached an all-time low, while demand gets stronger everyday,” said Bob Armer, area manager, Royal LePage ProAlliance Realty. “Today, there are even more buyers from out of town – namely from Toronto and the GTA – than there were a year ago. This migration continues to put a lot of upward pressure on prices, which is especially challenging for local buyers.”
Armer noted that Kingston’s proximity to Toronto has made it very popular among young people who can work remotely but may need to be in the office once or twice per week.
This is just one example of secondary cities that have grown in popularity and population over the last 15 months. Nationally, home price appreciation is being driven by the detached segment in secondary cities, like Kingston.
Royal LePage is forecasting that the aggregate price of a home in Canada will increase 16% per cent to $771,500 in the fourth quarter of 2021, compared to the same quarter last year, putting real estate values on track to grow 33% by the end of the year from June, 2020.
Read Royal LePage’s third quarter release for more regional and national insights.
Posted on
November 2, 2021
by
Marie Taverna
Just Sold 303-2368 Marpole Avenue in Port Coquitlam for a record sale price for the building
Welcome to River Rock Landing.
Fabulous 2 bdrm & den condo is move in ready.
The living room has a gas fireplace & sliders that lead to the a private deck.
Dining room for entertaining.
The kitchen cabinets have been freshly painted white & bright.
New stainless-steel appliances. Stone counter tops & tiled back splash.
New laminate flooring in most areas & new carpet in bedrooms.
The 2 bathrooms have been updated in recent years as well as the washer & dryer.
Principal bedroom has a large walk-in closet plus sliders that also lead to the private deck.
The second bedroom would make a great home office.
Great prime location with parks, shopping, transit, new Poco Rec Centre & a wide array of restaurants & pubs.
Posted on
November 2, 2021
by
Marie Taverna
For generations, Canadians have been asking themselves this important question:
‘Is it better to buy a home or rent?’
On the one hand, owning comes with more responsibility and higher monthly expenses, but offers more stability and a long-term investment. On the other hand, the money spent on renting will never be recuperated, however, it can offer some flexibility if you’re not sure how long you will live in one place.
According to a recent Royal LePage-sponsored study by economist Will Dunning, it is more financially beneficial to purchase a home than to rent in Canada, more than nine times out of ten. The study uses price data for 278 scenarios (broken out by city and housing type) across the country and assumes the owner is able to provide a 20% down payment. In 91% of scenarios, the monthly cost of owning a home is less than renting an equivalent dwelling, when considering the net ownership costs (total cost of ownership minus the portion of mortgage payment that goes toward principal). This is called the ‘ownership advantage’.
“While Canadians do want their homes to appreciate, potential homebuyers will find it reassuring that significant price appreciation is not necessary for ownership to be financially worthwhile,” said Karen Yolevski, chief operating officer, Royal LePage Real Estate Services Ltd. “Historically, home ownership has been very profitable for Canadians, many of whom have factored their real estate investments into their retirement planning. Owning a home is widely viewed as a means to save money and build equity.”
While home prices are expected to continue rising, the study found that even with a 10% decline in home prices, approximately half of the homeowners studied would still see a positive rate of return on investment, while the other half would break even or see a modest loss as an investment.
“For many people, buying a home – especially the first – is a landmark event and one of the most challenging decisions we’ll make in our lives,” said Will Dunning, president, Will Dunning Inc. “It is a decision that is usually based on a lot of hard work. This research tests a belief that is held by a lot of Canadians, that owning is better financially than renting. And, it finds that this belief is very often correct.”
Tor more insights, read the full release and report summary linked below:
Posted on
September 24, 2021
by
Marie Taverna
Welcome to River Rock Landing. Fabulous 2 bdrm & den condo is move in ready. The living room has a gas fireplace & sliders that lead to the a private deck. Dining room for entertaining. The kitchen cabinets have been freshly painted white & bright. New stainless-steel appliances. Stone counter tops & tiled back splash. New laminate flooring in most areas & new carpet in bedrooms. The 2 bathrooms have been updated in recent years as well as the washer & dryer. Principal bedroom has a large walk-in closet plus sliders that also lead to the private deck. The second bedroom would make a great home office. Great prime location with parks, shopping, transit, the new Poco Rec Centre & a wide array of restaurants & pubs, minutes away by foot, bike or car.
http://www.listings.360hometours.ca/15765
Posted on
June 14, 2021
by
Marie Taverna
Downtown Vancouver for Fleurs de Villes ROSÉ – a fresh floral trail supporting breast cancer research.
From June 11-20, this stunning showcase of floral talent will be freely open to the public and will feature over 50 stunning floral installations, created by some of Vancouver’s favourite florists.
Supported by the Downtown Vancouver and Robson Street business associations, Fleurs de Villes ROSÉ will be freely open to the public, and visitors will be able to safely walk through this self-guided trail through the downtown core while adhering to social distancing
Posted on
February 2, 2021
by
Marie Taverna
| |
Hygge (pronounced "hoo-guh") is a Danish expression referring to "well-being" that has captured the hearts of North Americans, especially during our frigid winter months.
The concept of hygge involves finding pleasure in simple, everyday things. For example, in today's world, it's more important than ever that our homes become a peaceful sanctuary where we feel safe and secure. The calming notion of snuggling by a fire, wrapped in a cozy blanket with a steaming cup of tea and a good book at hand is a soothing image to help visualize the concept of hygge during our blustery Canadian winters.
The easiest way to introduce hygge into your home is to dedicate one room to include only the things that bring you joy. Your bedroom can be a good place to start.
With so many of us working from home, your computer may have found its way into your bedroom. Do your best to seek out another corner of your home to relocate your "home office" to. In that same vein, remove all work-related and personal clutter from the room, keeping only the items that channel your inner calm.
Think "cozy and comforting" when introducing things back into your bedroom. Layers of soft bedding in soothing colours, lots of throw pillows, and plush rugs to sink your toes into are easy additions, while copious candles and live plants can complete the mood.
Let's embrace our Canadian winter with a little Danish inspiration!
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Posted on
July 25, 2020
by
Marie Taverna
Your Guide to Outdoor Fireplaces
Outdoor fireplaces are a backyard staple for many homeowners. Not only are they functional, providing a source of heat and light while allowing you to make the most out of your outdoor living space, but they can also increase the appeal of your home while creating an atmosphere that reflects your individuality. Plus, who doesn’t want a spot in their own backyard to make s’mores whenever you want?
That said, installing an outdoor fireplace isn’t as straightforward as lighting a match. What type to choose, what fuel source to use, and where you place it are all questions requiring careful consideration.
Not to mention, local bylaws and codes must be strictly adhered to, which present challenges of their own. But a quick Google search of your area or even provincial regulations will let you know if there’s a burn ban in place or structural requirement you’ll need to meet before breaking out the kindling. When it comes to lighting a fire, some municipalities require a simple burn permit which can be registered with a phone call.
If everything’s a go, there’s no better time than now to ignite the outdoor space of your dreams. Read on to find which solution works best for you.
The four types of outdoor fireplaces
All fireplaces fall into three categories: wood-burning, gas-burning (natural gas, propane, or kerosene), or electric—and within those categories are four main types:
- Fire pits (rings, bowls, and built-in patio pits);
- fireplaces and heaters;
- chimeneas; and
- patio torches.
Just like selecting an indoor fireplace, it all comes down to function, features, and performance—each with its own application, advantages, and disadvantages.
To choose the right type for your space, ask yourself what’s most important to you and the space you’re working with? Do you value fashion over function? Do you want a fireplace that will give off plenty of heat, or will serve as the multi-purpose lawn decoration? Is finding an environmentally responsible alternative more important than the general ambiance? Maybe you want the best of both worlds! Explore the pros and cons of each type below:
Fire pits: rings, bowls, and patio pits
If you close your eyes and picture a fire pit, what pops into your head? It’s likely a traditional fire ring of rocks circling a shallow pit. Some modern pits can be quite lavish with mortared limestone surrounds, proper drainage systems, and even include fire glass.
Fire rings and their pits are quite permanent and would require some landscaping to relocate. Bowls, on the other hand, come in different shapes, sizes, and materials and are placed on the ground or a stand for easy transportation.
Patio fire pits can be integrated into your patio, such as fire tables that give the outdoor dining experience a bit of ambiance, with the fire pit as the table’s centrepiece.
Pros
- An easy DIY project: fire rings are inexpensive, easy to build, and are a great project to complete over the weekend with the family.
- Easy to move: depending on the model, fire bowls are an efficient and portable option.
- A premium fire pit: built-in patio fire pits are unrivalled when it comes to quality, aesthetics, and customization.
Cons
- They send a bad smoke signal: fire bowls and rings fueled by wood produce wood smoke, a known pollutant.
- There are safety concerns: fire rings have an open flame with uncontained sparks that present potential dangers.
- Costly renovations can be involved: built-in patio fire pits require pricey renovations and custom craftsmanship.
Fireplaces
Outdoor fireplaces can include various designs and features such as cottage-style chimneys, bronze inlaying, and detailed stonework. If you want to give wood-burning a rest, gas-burning and electric-powered models are also available.
Pros
- It’s the real experience: outdoor fireplaces bring the heat with the sound and smell of burning wood.
- Provides you with an economical choice: less expensive than custom fire rings and built-in patio pits.
Cons
- Watch out for safety risks and pollutants: wood smoke from a fireplace creates pollution, while flames and sparks increase risk.
- Naturally inauthentic: outdoor fireplaces fueled by natural gas or electricity lack an authentic, wood-burning fire.
- Placement is limited to outlets: natural gas and electric fireplaces or heaters are less portable than those fueled by wood or propane.
Patio heaters
Patio heaters are traditionally fueled by gas or electricity, and their lightweight construction offers more portability than a classic outdoor fireplace. Propane standing floor lamps are common styles, and patio heaters come in a variety of sizes to suit your desired space..
Pros
- You’re given superior temperature control: patio heaters allow you to control the heat similar to a thermostat.
- They’re environmentally friendly: since they aren’t fueled by wood, heaters are a greener alternative and safer to operate.
- Provides you with an economical choice: less expensive than custom fire rings and built-in patio pits.
Cons
- Patio heaters have a small warmth radius and can be toppled by a gust of wind.
- You aren’t able to cook with them: cooking with a patio heater is virtually impossible and is not recommended.
Chimineas
Chimeneas are centuries old and combine function with fashion. Decorative wood-burning chimineas are shaped like a wide-bottom vase with integrated chimneys, and they’re historically made from fired clay.
Pros
- They’re easy to ignite: a chimenea is conducive to lighting a fire as its shape funnels oxygen to feed the flames.
- You control the smoke: the built-in chimney stack directs smoke up and away from the chimenea and out of your eyes.
- They offer you optimal heat output: like fireplaces and fire pits, chimeneas generate a lot of warmth by burning wood.
Cons
- You must be picky about placement: chimeneas are freestanding and require a level surface to increase safety.
- They require lots of upkeep: the body of a chimenea is an enclosed bowl that fills with ash quickly, and the chimney needs routine cleaning if used often.
- There’s little drainage: water fills the belly of a chimenea if it’s left uncovered when not being used.
Patio torches
Patio torches, aka Tiki torches, are an economical way to light up your outdoor space while creating an inviting, tropical atmosphere. Originating from ancient Polynesia, torches are popular with homeowners wanting a relaxed island vibe in their own backyard.
Pros
- They’re rustic or modern: patio torches made from bamboo offer a traditional look, while copper provides a more contemporary aesthetic.
- Offers you a clean-burning alternative: being fueled by kerosene or natural gas, torches are environmentally friendly.
- You won’t be bothered by the bugs: some tiki torches include natural oils such as citronella to deter mosquitos and other unfriendly insects.
Cons
- They don’t provide much heat: patio torches don’t produce much warmth, which limits their effectiveness on cool nights.
- There’s an open flame: the single, open flame is susceptible to being blown out by the wind and proves difficult to keep lit on rainy evenings.
- They’re easy to tip: torches fall over easily in the wind and are a safety concern around children.
When to dig a pit and where to place a heater
The outdoor space you’re working with will help you decide which fireplace you can install. If you want to bring the heat to your deck or porch, a patio heater or gas-burning fireplace is a great go-to option. If it’s a semi-enclosed space, the limited heat-radius won’t be as noticeable.
If you want to crank up the heat in wide, open spaces, look to wood-burning fireplaces, pits, and chimeneas. Give them plenty of room to breathe, however. These options should be kept 10 to 20-feet away from walls and combustibles, plants and trees. They’re not recommended for enclosed decks or gazebos.
To play up the ambiance of your space or to decorate for special occasions patio torches are a great option, weather permitting. They’re perfect for lining walkways or outlining the perimeter of your deck, but they can also be used beneath an awning or slatted patio roof. For safety, be aware of the flame and make sure there’s plenty of airflow.
How you fuel your outdoor fireplace also determines which type you choose. Those that need an electrical outlet or natural gas line are not easily moved, while propane-fueled and wood-burning options provide more flexibility.
Now that you’ve narrowed done your fireplace, why not add a little flavour to your outdoor space? Here’s what you need to know about choosing the perfect grill!
Fireplace safety, bylaws, and codes
Smokey Bear charged us with the responsibility of preventing forest fires and holds true for your outdoor fireplace, too.
Here are a few safety considerations to bear in mind:
- Don’t leave a burning fire unattended: stay within sight of your fireplace and completely extinguish it before heading inside.
- Be prepared for an emergency: it’s wise to have buckets of water, sand, a fire extinguisher, or a hose nearby in case disaster strikes.
- Pay attention to the weather: high winds can knock over lamp-style patio heaters and tiki torches, while periods of drought will turn sparks into fires (always check with your local fire department or municipality to see if there is a burn ban in place for this reason.)
- Choose hardwoods versus softwoods: seasoned hardwood burns more consistently to limit sparks from popping unpredictably.
- Use tinder, not gasoline: lighting a fire with gas is extremely dangerous and is always to be avoided.
- Keep it ventilated: gas-burning fireplaces and heaters emit carbon monoxide, which is deadly in small, enclosed areas.
- Bigger isn’t better: the larger the fire, the less predictable it becomes making it harder to control.
Ultimately, your local bylaws and zoning codes have the final say in what type of outdoor fireplace you choose. Each province or territory has a different process, so be sure to check your local government’s website or your local fire department for regulations and recommendations.
For instance, firepits and wood-burning fireplaces are more acceptable in rural neighbourhoods, but if you live in the city, you’re likely limited to gas-burning models in covered bowls. If you live in a condo or townhouse, there’s a good chance outdoor fireplaces are prohibited altogether—check with your building management. If the warm smell of wood smoke is something you crave or an elegant patio with a built-in fireplace is what you’re looking for in a new home, make sure you talk with your REALTOR® about the dos and don’ts in your new neighbourhood.
Posted on
July 25, 2020
by
Marie Taverna
How to Make Happy Hour Even Happier This Summer
Now that summer has arrived, it’s time to get serious about happy hour. Cocktails are synonymous with freedom, holidays, love and celebration (and sometimes headaches). Introduce your bubble to a few sophisticated upgrades and elevate your patio status from Jell-o shooters! It takes little investment beyond a few choice bottles, reusable straws, a shaker and blender. Premium snacks and a solid playlist help too!
There will always be cocktail classics to lean on, but why not expand your in-house drinks list? Here’s your happy hour homework assignment for the summer:
 Image : Jules Torti
The Basil Bee Sting
There’s a buzz around this drink for good reason! It’s like drinking a glass of air conditioning! You can also pat yourself on the back for supporting the local bee population. Casablanca basil seed drinks are a fun juice alternative and come in the following flavours: lychee, mango, pineapple, pomegranate and rose. Try them all! (*But maybe not all at once.)
- 5 oz basil seed drink
- 2 oz reposado tequila
- 3/4 oz freshly squeezed lemon juice
- 3/4 oz local honey
Add basil seed drink, tequila, lemon juice and honey to a shaker. Add ice and shake for 15 seconds. Strain.
Recline.
As we continue to navigate the different phases of the pandemic and shifting social and business restrictions, why not set up a home bar? For makeshift cocktail stations and permanent closed-concept solutions, begin your bar blueprint research here.
 Image credit: Signe Langford, Signe’s Kitchen
Love at First Sight
Whether you are shaken or stirred, this is one drink you won’t soon forget. Created by cookbook author and Harrowsmith food editor, Signe Langford, Love at First Sight is a sweet treat and likely, the start of a long love affair!
- 2 oz coconut rum
- 2 oz amber rum
- 2 tbsp runny honey
- 1 cup dark chocolate milk (soy, almond, or dairy)
- 4 cubes of ice
- Tiny pinch of Mediterranean sea salt to garnish (optional)
- Chocolate-covered mint candy, notched for the glass
Blend both rums, milk, ice and whiz until smooth and frothy.
Pour into two tall glasses and add a tiny pinch of sea salt to the top, if desired.
 Image via Corby Spirit and Wine
Suit & Tie
Summer does have a few rules that should be obeyed. No shirt, no shoes, no service doesn’t apply here though–a Suit & Tie is required! Spiced rum is a versatile mix often ignored until the winter season. However, it can kick up blender drinks and legends like the Dark and Stormy (spiced rum and ginger beer) and Cuba Libre (rum and cola). But, let’s dress things up a little with this riff from Corby Spirit and Wine.
- ½ oz vermouth
- 1/8 oz Italian bitter liqueur
- 1 ½ oz spiced rum
- Ice cubes
Add a few ice cubes to an old-fashioned glass. Combine spiced rum with vermouth and Italian bitter liqueur. Stir and garnish with orange zest or blood orange slice and a sour cherry.
 Image via The Diplomat Boutique Hotel
Grapefruit Margarita
Sarah DeRuiter and Neil Haapamaki, owners and founders of The Diplomat Boutique Hotel in Mérida, Mexico, know how to blend a dose of OMG and SPF without blinking. The Toronto ex-pats are well-versed in all things tequila and have curated a slick custom cocktail list infused with local fruits, spices and herbs from their garden. Take an instant DIY vacation to Mexico and ease into the tropical chill of The Diplomat’s signature Grapefruit Margarita.
- 1 part fresh-squeezed grapefruit
- 1 part Triple Sec (not Cointreau)
- 2 parts mezcal or tequila
- Splash of simple syrup
- Ice cubes
Rim a highball glass with a blend of chili, salt, and lime (or Tajin). Shake all ingredients in a shaker with ice. Garnish glass with a grapefruit and lime slice, add ice to the glass, pour and serve.
Salud!
 Image via Flickr, @new1mproved
Grown-up milkshake
Take to the shade with a book, bamboo straw and a frosty shake! Spike your milkshake with your favourite spirit by following this simple (but not strict) base recipe that serves two.
- 1 pint of ice cream
- 8 oz milk (cashew, almond, coconut, soy, chocolate, dairy)
- 5 oz of booze (bourbon, vodka or dark rum–any spirit will do)
Blend ingredients on high for a couple of minutes. Add more ice cream for a thicker shake or thin with milk (or booze).
Here are a few tried and true combinations to experiment with:
The James Joyce: Replace milk in this recipe with Guinness and blend vanilla ice cream with Baileys Salted Caramel. Any coffee-flavoured ice cream will marry well. Drizzle with chocolate syrup or garnish with crushed chocolate-covered espresso beans for a chocolate lover’s total meltdown.
Summer Crush: Replace milk with Orange Crush soda and add vodka. Try Chapman’s Orange Pineapple or Tiger Tail ice cream for an all-Canadian flavour twist.
Back to Your Roots: Replace milk with root beer and add vodka for a root beer float with personality!
Key Lime Pie in a Glass: Add lime vodka and rim glass with crushed graham crackers. What’s better than a pie that you can drink?
For an online cocktail “class” that you won’t want to skip, check out the pandemic-inspired series Amy Schumer Learns to Cook on the Food Network. Summer school has never been so fun! Best of luck to all of you on your bar exam!
Posted on
June 3, 2020
by
Marie Taverna
Welcome to the Belcarra, the premier low-rise building @Newport Village.This rare style condo unit with 2 bedrooms/2 bath+den, is move in ready.This home seems larger with it’s open floor plan & windows.Kitchen has light wood grain cabinets/stone counters & S/S appliances.Gas fireplace in living room.Recent updates such as designer paint colours, flooring & much more.Principal bedroom with walk-in closet.Large 2nd bedroom & the den makes a great home office.Laundry closet with high efficiency W/D.BONUS 2 separate covered decks,2 side by side parking & 1 storage locker.The building includes an exercise room, amenity room, & bike storage.Set in beautiful Newport Village with everything a short stroll away, Evergreen Skytrain/WestcoastExpress/shopping/Brewery Row/Rocky Point Park & much more.
http://www.listings.360hometours.ca/15084
Posted on
October 22, 2018
by
Marie Taverna
Welcome to 3323 Hockaday Place...This lovely family home is located in a great neighbourhood on a quiet cul-d-sac. Elegant living room & dining room which share a 3 way gas fireplace. Perfect for entertaining. Tiled front entry. Lovely solid hickory flooring throughout most of main floor. Great kitchen with wood cabinets & gas stove. Breakfast bar for morning coffee. Cozy family room with gas fireplace & glass sliders that lead out to the back patio & yard. Large laundry room with lots of storage. 3 bedrooms upstairs have new carpeting. Extra large master bedroom suite. Updated ensuite with large shower + claw footed soaker tub+heated floors. Downstairs has a large games/rec room, perfect for your teens. Bedroom downstairs. Bathroom down with large shower. Tons of storage in the 4'10 crawl space. Great fenced backyard for the kids & Fido. Enjoy relaxing on your patio. Easy care tile roof & vinyl siding with brick trim. This home has had many updates through the years & has been cared for by the original owners. A pleasure to show...
Posted on
March 27, 2018
by
Marie Taverna
Statement – Speculation Tax: Clarity Appreciated; More Needed
Vancouver, BC – March 27, 2018.
The British Columbia Real Estate Association (BCREA) was pleased to see more details of the proposed speculation tax. Refinement of the areas of the province where the tax applies and the introduction of different rates for different owners indicate a more strategic approach, and provide greater certainty.
We look forward to more answers as the speculation tax takes shape, and more opportunities to minimize its negative impact in all affected areas for all homeowners who pay income tax in Canada. For example, homeowners in the City of Vancouver could potentially be charged twice for leaving their homes vacant: once by the city and once by the province. Communities could face economic problems, due to fewer visitors, less consumer spending and lower housing prices.
Also, development properties are often bought years before they are developed, and the proposed tax would add costs that would be passed on to consumers, regardless of where they pay tax.
Finally, perhaps consideration should be given to offering incentives for homeowners to rent their properties, rather than a tax penalty.
BCREA urges the BC Government to undertake a formal, public consultation on the proposed speculation tax, to ensure the best input and insights are available, and to assure those affected that this measure is being carefully considered from all angles.
Reprinted with permission.
BCREA is the professional association for about 23,000 REALTORS® in BC, focusing on provincial issues that impact real estate. Working with the province’s 11 real estate boards, BCREA provides continuing professional education, advocacy, economic research and standard forms to help REALTORS® provide value for their clients.
To demonstrate the profession’s commitment to improving Quality of Life in BC communities, BCREA supports policies that help ensure economic vitality, provide housing opportunities, preserve the environment, protect property owners and build better communities with good schools and safe neighbourhoods.
Posted on
March 21, 2018
by
Marie Taverna
1) B.C. PROPERTY TRANSFER TAX (PTT ) FIRST-TIME HOME BUYERS ’ PROGRAM Qualifying first-time buyers may be exempt from paying the PTT of one per cent on the first $200,000 and two per cent on the remainder of the purchase price of a resale home priced up to $500,000. There’s a proportional exemption for homes priced between $500,000 and $525,000. At $525,000 and above the exemption is nil. Learn more by talking to your Realtor or calling 1-250-387-0604.
2) B.C. PROPERTY TRANSFER TAX NEWLY BUILT HOME EXEMPTION Qualifying buyers of new homes may be exempt from paying the PTT on a newly built home or newly subdivided unit priced up to $750,000, saving buyers up to $13,000; and a partial exemption on newly built homes priced $750,000 to $800,000. Learn more by talking to your Realtor or calling 1-888-355-2700.
3) B.C. HOME OWNER GRANT Reduces property taxes for home owners with an assessed value up to $1,650,000. The grant is reduced $5 for each $1,000 and eliminated on homes assessed at $1,764,000 or $1,804,000 in northern or rural areas. Basic grant: up to $570 in property taxes on principal residences in the Capital, Greater Vancouver and Fraser Valley regional districts; an additional grant of $200 to rural home owners elsewhere in the province; and an additional grant of $275 to seniors aged 65 and older, those who are permanently disabled, and veterans of certain wars. Learn more by contacting your municipal tax office.
4) B.C. PROPERTY TAX DEFERMENT PROGRAMS Property Tax Deferment Program for Seniors: qualifying home owners aged 55 and older can defer property taxes. Financial Hardship Property Tax Deferment Program: qualifying low-income home owners can defer property taxes. Property Tax Deferment Program for Families with Children: qualifying home owners who financially support children under age 18 can defer property taxes. If you’re in Vancouver, learn more by calling 604-660-2421. If you live elsewhere in B.C., call 1-800-663-7867.
5) HOME BUYERS ’ PLAN Qualifying home buyers can withdraw up to $25,000 (couples can withdraw up to $50,000) from their RRSPs for a down payment. Home buyers who have repaid their RRSP may be eligible to use the program a second time. Learn more at the Canada Revenue Agency website by searching “Home Buyers’ Plan”.
6) GST/HST NEW HOUSING REBATE New home buyers can apply for a rebate on the five per cent GST if the purchase price is $350,000 or less. The rebate is equal to 36 per cent of the GST to a maximum rebate of $6,300. There’s a proportional GST rebate for new homes costing between $350,000 and $450,000. There’s no rebate for homes priced at $450,000 and above. Learn more by contacting the Canada Revenue Agency at 1-800- 959-8287.
7) FIRST-TIME HOME BUYERS ’ TAX CREDIT Eligible persons who bought a qualifying home in 2017 can claim the home buyers’ amount of $5,000 on Line 369 of Schedule 1 when filing their 2017 income tax and benefit returns. For 2017, the maximum home buyers’ tax credit is $750, which is calculated by multiplying the home buyers’ amount of $5,000 by the federal non-refundable tax credit rate of 15 per cent (equal to the lowest personal income tax rate for the year). Learn more by contacting the Canada Revenue Agency at 1-800-959-8281.
8) HOME ADAPTATIONS FOR INDEPENDENCE A program jointly sponsored by the provincial and federal governments provides up to $20,000 to help eligible low-income seniors and disabled home owners and landlords finance modifications to their homes to make them accessible and safer. Learn more at bchousing.org, or by calling 604-433-2218 or 1-800- 257-7756.
9) B.C. SENIORS ’ HOME RENOVATION TAX CREDIT Assists eligible seniors 65 and older with the cost of some permanent home renovations to a principal residence to improve accessibility. The maximum refundable credit is $1,000 per tax year and is calculated as 10 per cent of the qualifying renovation expense (maximum $10,000). Forms are available online. Learn more by calling 1-800-959- 8281.
10) CMHC MORTGAGE LOAN INSURANCE PREMIUM REFUND Provides home buyers with CMHC mortgage insurance, a 10 per cent premium refund, and possible extended amortization without surcharge, when buyers purchase an energy efficient home or make energy saving renovations. Learn more by contacting the CMHC at 604-731-5733, or search for “Mortgage Loan Insurance Premium Refund” on cmhc.ca.
11) ENERGY SAVING MORTGAGES Some financial institutions offer special mortgages to home buyers/owners who are making their homes energy efficient. For example, home owners may qualify for a BMO Eco Smart Mortgage for single family and townhomes if the home has the required energy efficiency features, which are confirmed by an approved energy auditor arranged by the bank. Learn more by contacting your financial institution.
12) LOW INTEREST GREEN RENOVATION LOANS Financial institutions offer loans to home owners making energy efficient upgrades, for example, Vancity’ Home Energy Loan up to $50,000 and RBC’s Energy Save loan offers one per cent off the interest rate for a fixed-rate installment loan over $5,000 or a $100 rebate on a home energy audit on a fixed-rate installment loan over $5,000. Learn more by contacting your financial institution.
13) B.C. HYDRO AND FORTISBC REBATES TO IMPROVE A HOME’S EFFICIENCY Rebates for insulation, draft-proofing, hot water heaters, EnerChoice fireplaces, and a $750 bonus offer for making three or more eligible upgrades. Learn more by going to bchydro. com and searching for “rebates”.
14) FORTISBC NEW HOME ENERGY REBATE OFFER FortisBC and B.C. Hydro customers can receive rebates when building ENERGY STAR new homes or installing high-efficiency natural gas fireplaces. Learn more by going to fortisbc. com and searching for “rebates”.
15) HOME ENERGY REBATE OFFER B.C. Hydro and FortisBC offer home owners rebates for upgrades and improvements, including insulation, space and water heating systems and ventilation to reduce your energy bill. The program includes a bonus offer for completing three or more upgrades. Total value of available rebates: up to $6,500. Learn more by going to bcenergycoach.ca and clicking on “incentives”, or by calling 1-877- 740-0055.
16) ENERGY SAVINGS KITS B.C. Hydro and FortisBC offer income-qualifying customers a free energy saving kit containing products to help save energy and dollars. Learn more by going to bchydro. com or fortisbc.com and searching for “energy saving kit”.
17) FORTISBC REBATES F OR HOMES Rebates for home owners include a $300 rebate for purchasing an EnerChoice fireplace, or up to $1,000 for installing a tankless, storage, or hybrid hot water heater, or a rebate of up to $2,700 for connecting to natural gas and installing a natural gas heating or hot water system (from oil or propane). Learn more by going to fortisbc. com and searching for “rebates”, or by calling 1-800-663-8400.
18) FORTISBC REBATE FOR RENTAL APARTMENT BUILDINGS The Rental Apartment Efficiency Program, for owners and managers of rental apartment buildings of nine or more units, includes a new water-efficient shower head, and kitchen and bathroom faucet aerator for each unit, an energy assessment, and ongoing professional assistance. Learn more by going to fortisbc.com and searching for “rebates”.
19) JOIN THE POWER SMART TEAM Become a member of Team Power Smart and start a challenge to reduce your electricity use by 10 per cent over the next year. If you’re successful, you’ll earn a $50 reward. Learn more by going to bchydro.com and searching for “Power Smart Team”.
20) ENERGY STAR APPLIANCE REBATES B.C. Hydro Power Smart and participating municipalities offer $100 mail-in rebates to home owners buying ENERGY STAR clothes dryers and refrigerators. Learn more by going to bchydro. com and searching for “appliance rebate”.
21) B.C. HYDRO POWER SMART APPLIANCE REBATES B.C. Hydro offers rebates for clothes washers ($50 rebate), refrigerators (up to $100 rebate), and clothes dryers (up to $100 rebate). Learn more by going to bchydro. com and searching for “appliance rebate”, or by calling 1-800-224- 9376.
22) CITY OF VANCOUVER THERMAL IMAGING PROGRAM Helps home owners identify heat loss and connect them with energy-saving incentives. Neighbourhoods piloting the program include Strathcona, Hastings Sunrise, Dunbar-Southlands, Riley Park and Victoria Fraserview. Learn more by going to vancouver.ca and searching for “thermal imaging program”, or by contacting Chris Higgins at chris.higgins@vancouver.ca.
23) BUSINESS ENERGY SAVING INCENTIVES Provides financial incentives to organizations that replace inefficient technologies with energy efficient technologies. Learn more by going to bchydro. com and searching for “business energy saving”, or by calling 1-800- 474-6886.
24) FORTISBC REBATE PROGRAM FOR BUSINESSES For commercial buildings, this program provides a rebate of up to $45,000 for the purchase of an energy efficient boiler; up to $15,000 to buy a high-efficiency water heater; up to $60,000 to hire an energy consultant; and up to $1 million to conduct plantwide audits, feasibility studies and energy-efficiency upgrades. Learn more by going to fortisbc. com and searching for “business rebate”.
25) ENERGY EFFICIENCY UPGRADES FOR BUILDINGS The city of Vancouver’s $1 million fund includes a $150,000 grant to the Vancouver Heritage Foundation for retrofits to pre-1940 homes, a Home Energy Efficiency Empowerment Program for 675 homeowners, and a $1 million Green Landlord Program to help non-market apartment building owners and operators reinvest in buildings and reduce energy costs. Learn more by going to Vancouver.ca and searching for “Energy Retrofit Fund”.
26) HERITAGE ENERGY RETROFIT GRANT Grants of up to $6,000 per household for energy retrofits for pre-1940 Vancouver homes and homes on the Vancouver Heritage Register. Retrofits include insulation, air sealing, window repairs, storm windows and high efficiency heating and hot water. Learn more by going to vancouverheritagefoundation.org and selecting “get a grant”.
27) RAIN BARREL SUBSIDY PROGRAMS Metro Vancouver municipalities offer rain barrels for sale at a discount for residents: Richmond - $30; Burnaby - $100; Coquitlam $72. Other municipalities may have similar offers. Learn more by contacting your municipality.
28) WATER SAVING KITS Metro Vancouver municipalities offer water saving kits to reduce water use. Learn more by contacting your local municipality.
29) LOCAL GOVERNMENT WATER METER PROGRAMS Municipalities may offer water metering, so you pay only for water you use. Burnaby, Delta, Richmond and West Vancouver have programs. Learn more by visiting your municipality’s website and searching for “water meter".
Posted on
March 20, 2018
by
Marie Taverna
When it comes to your home, a musty smell of dampness is definitely undesirable. Dampness can produce mold on hard surfaces, mildew on soft surfaces, and potentially even lead to health or safety issues. But before dampness in your home can put a damper on your spirit, here's the 411 to help you detect it, deal with it, and avoid it in the future.
Identifying dampness
The geographical region of where you live could be a predictor for dampness in your home. Check with your Realtor or local public library for information on the humidity and rainfall in your area. Damp homes are often caused by an influx of water from the outside or by increased humidity from showering, drying clothes, and cooking. If water is entering your home from the outside, you may be able to determine where by looking for water tides on painted walls or white salt deposits (called efflorescence) on brick.
Dealing with dampness
If your home is showing signs of dampness, it is important to address these issues as quickly as possible to mitigate any significant damage or health issues. The first thing to do is locate the source of the problem. Check for obvious causes such as blocked gutters, missing tiles, objects stacked against an external wall, leaking pipes, or damage to your roof or foundation. If you cannot find the source, hire an expert to help. Once you have identified the problem, it is time to seal the deal. Depending on the complexity and severity of the problem, there may be some solutions you can take care of yourself (e.g. caulking a window to keep moisture out), whereas others may be better suited for a professional (e.g. fixing leaks to pipes or addressing foundation problems).
Avoiding dampness
Prevention is key. Here are some steps you can take to keep dampness away from your home:
* Limit moisture during humid weather by keeping windows and doors closed.
* Use an air conditioner and/or dehumidifier to keep humidity below 60%.
* Ensure all vent fans are clear and connected directly outdoors and not to the attic.
* Use exhaust fans in the kitchen and bathrooms to control humidity.
* When possible, consider limiting the boiling time of water, covering saucepans when cooking, and discontinuing use of portable gas heaters.
* Position the downspout runoff so it's directed away from the foundation of your home.
* Increasing or improving the insulation of your home and around pipes.
Posted on
March 11, 2018
by
Marie Taverna
Home buyers were less active in February
Metro Vancouver* home sales dipped below the long-term historical average in February.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 2,207 in February 2018, a nine per cent decrease from the 2,424 sales recorded in February 2017, and a 21.4 per cent increase compared to January 2018 when 1,818 homes sold.
Last month’s sales were 14.4 per cent below the 10-year February sales average. By property type, detached sales were down 39.4 per cent over the same period, attached sales were down 6.8 per cent, and apartment sales were 5.5 per cent above the 10-year February average.
“Rising interest rates and stricter mortgage requirements have reduced home buyers’ purchasing power, particularly for those at the entry level of our market,” Jill Oudil, REBGV president said. “Even still, the supply of apartment and townhome properties for sale today is unable to meet demand. On the other hand, our detached home market is beginning to enter buyers’ market territory.”
There were 4,223 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in February 2018. This represents a 15.2 per cent increase compared to the 3,666 homes listed in February 2017 and an 11.2 per cent increase compared to January 2018 when 3,796 homes were listed.
The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 7,822, a three per cent increase compared to February 2017 (7,594) and a 12.6 per cent increase compared to January 2018 (6,947).
“The spring is traditionally the busiest time for home buyers and sellers in our market. We’ll wait to see how they react to the taxes and other policy measures that our provincial and federal governments have introduced so far this year,” Oudil said. “To help you navigate these changes in today’s housing market, it’s important to work with your local REALTOR®.”
For all property types, the sales-to-active listings ratio for February 2018 is 28.2 per cent. By property type, the ratio is 13 per cent for detached homes, 37.6 per cent for townhomes, and 59.7 per cent for condominiums.
Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,071,800. This represents a 16.9 per cent increase over February 2017 and a 1.4 per cent increase compared to January 2018.
Sales of detached properties in February 2018 reached 621, a 16.6 per cent decrease from the 745 detached sales recorded in February 2017. The benchmark price for detached properties is $1,602,000. This represents an 8.2 per cent increase from February 2017 and is virtually unchanged from January 2018.
Sales of apartment properties reached 1,185 in February 2018, a 7.1 per cent decrease compared to the 1,275 sales in February 2017. The benchmark price of an apartment property is $682,800. This represents a 27.2 per cent increase from February 2017 and a 2.6 per cent increase compared to January 2018.
Attached property sales in February 2018 totalled 401, a 0.7 per cent decrease compared to the 404 sales in February 2017. The benchmark price of an attached unit is $819,200. This represents an 18.1 per cent increase from February 2017 and a 1.9 per cent increase compared to January 2018.
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Re-printed with permission...
Posted on
December 13, 2017
by
Marie Taverna
- Impact of new stress test expected to be contained to first half of 2018 for most major markets
- Still risk of high price appreciation in Greater Toronto Area and Greater Vancouver as chance of market correction fades
- Compounding policies could have unintended consequences for struggling housing markets
TORONTO, December 13, 2017 – According to the Royal LePage Market Survey Forecast released today, the Royal LePage House Price Composite, which measures home prices in 53 key Canadian cities, is expected to increase 4.9 per cent by the end of 2018 to $661,919, in the face of a series of measures aimed at affordability challenges in Greater Vancouver and the Greater Toronto Area.
One of the most significant regulatory interventions in the housing industry in years is the incoming Office of the Superintendent of Financial Institutions (OSFI) mortgage financing stress test, which will take effect on January 1, 2018. The stress test targets existing and prospective homeowners applying for a mortgage, requiring them to meet stricter criteria when seeking new financing.
With a large number of existing homeowners potentially failing the test when refinancing next year, a temporary reduction in consumer confidence may further stagnate price growth as potential buyers and sellers take a ‘wait and see’ approach. Moreover, some potential move-up buyers will likely delay listing their homes as they will not be able to access sufficient financing for their desired next purchase. With further diminished affordability, it is likely that demand for entry-level properties will surge. In most urban centres, this will be most evident in the condominium segment.
“It is prudent that policy makers introduce measures that help protect the housing market from runaway price inflation,” said Phil Soper, president and CEO, Royal LePage, “However, natural supply and demand forces will always triumph over regulatory tinkering. Attempting to use public policy to steer property prices in huge, rapidly growing cities like Toronto and Vancouver is like a tugboat trying to turn an ocean liner. Consistent, measured policy can have a positive impact. Just don’t try to turn the market on a dime or you risk sinking the ship.”
“Insufficient housing supply in Canada’s largest cities will begin to drive significant price increases to higher than normal levels once the market adjusts to the new stress test,” continued Soper. “Aggressive home price inflation is still more of a threat today than the risk of a market crash in Toronto or Vancouver. On the other side of the coin, regions where demand is soft and already struggling to absorb the supply of homes for sale may have difficulty adjusting to these measures.”
Decreasing, or already low, inventory levels are expected to continue to define market characteristics of many large urban centres including the Greater Toronto Area, Greater Vancouver, Ottawa and Montreal. Further adding to the already bloated housing demand backlog, British Columbia and Ontario both experienced a surge in interprovincial migration in 2017, putting increased pressure on Greater Vancouver and the Greater Toronto Area housing markets. Demand from immigration, alongside demand from Peak Millennials[1] who are increasingly becoming of homebuying age, will continue to outpace supply.
“Royal LePage’s research into Peak Millennials[2] shows that younger Canadians desire to own their own homes with the same conviction as their parents before them,” said Soper. “Eighty-seven per cent see real estate as a good financial investment. The tight rental market is reflective of their dreams sitting on hold while they save for a downpayment. Of course there will be those who are priced out of a market altogether. They will continue renting and this will drive demand for investor properties.”
According to a recent Royal LePage Advisor Survey[3] on rental demand, 76 per cent of Royal LePage agents who offer rental services in the Greater Toronto Area saw a year-over-year increase in multiple offers and 68 per cent of those respondents cited affordability as a barrier to homeownership as the number one factor driving rental demand. In Greater Vancouver, 59 per cent of respondents servicing the Vancouver area saw a year-over-year increase in multiple offers for rentals. As a result, the pipeline of potential homebuyers providing a market price floor is growing and this growth trend is expected to continue through 2018.
Canada’s economy is expected to expand by 2.1 per cent in 2018, with all provinces, with the exception of Newfoundland, expected to see growth. Economic growth is an important driver of healthy housing markets.
“Most Canadians know how important the resource sector is to our economy but fewer understand just how important the real estate industry is to Canada,” said Soper. “In 2016, 13 per cent of the country’s GDP was driven by real estate. In British Columbia, that number was closer to 18 per cent.”
“When people are confident about their jobs and optimistic about the health of their country and their city, they will invest in a home,” Soper concluded. “At projected levels of demand, Canadian housing is poised for growth for years to come.”
Regional Pricing Forecasts (Listed by population size)
Greater Toronto Area
Home prices in the Greater Toronto Area are expected to increase 6.8 per cent in 2018, rising to an aggregate[4] price of $901,392. This will largely be driven by price appreciation in the condominium market as demand for entry-level properties is expected to continue to surge. The Greater Toronto Area’s thriving economy and growing population has been supportive of an expanding housing market and this is expected to continue throughout 2018.
As a result of the incoming OSFI stress test, sales for detached properties are expected to soften in the first half of the year as both buyers and sellers adjust their price expectations. However, sales volumes for the full year are expected to remain at a similar pace as 2017.
“Relative to recent years, 2018 is expected to be a good year for buyers and this is a continuation from what we are currently seeing in the market today,” said Shawn Zigelstein, sales representative, Royal LePage Your Community Realty. “While the condo market should continue to see price growth from high demand, buyers looking at detached properties in the first quarter will be able to ask for conditions, have a much greater selection and should be competing against fewer multiple offers.”
Greater Montreal Area
Home prices in the Greater Montreal Area are expected to increase 5.5 per cent in 2018, rising to an aggregate price of $408,285. Among the economic factors supporting the Montreal real estate market momentum is ongoing employment growth seen across the region. In November, the province reached its lowest unemployment rate since January 1976, at 5.4 per cent, while Montreal recorded a 6.6 per cent rate during the same period. According to the Conference Board’s Consumer Confidence Index for Quebec[5], the proportion of Quebecers who feel that it is a good time to make a major purchase, such as a property, increased in November to 45.6 per cent, an unprecedented rate in more than 10 years.
Purchases made by foreign buyers in high-end neighbourhoods such as downtown, Westmount and Ville Mont-Royal are expected to continue. The strong local economy and relative affordability are credited for driving consumer demand from this demographic.
“The economic health of Montreal continues to positively affect real estate transactions in the area,” says Dominic St-Pierre, senior director, Royal LePage, for the Quebec region. “We are confident that the market will remain stable and strong within the next year. Our forecast takes into account that the upcoming OSFI stress test, as well as potential interest rates hikes, may cool down the housing market during the first half of 2018.”
Greater Vancouver
Home prices in Greater Vancouver are expected to increase 5.2 per cent in 2018, rising to an aggregate price of $1,353,924 as low supply continues to put upward pressure on the housing market. Further enhancing the housing market is British Columbia’s economy, which is poised to be a top performer among the provinces in 2018. One potential risk to the region’s housing market is further interest rate hikes as home prices are substantially higher in this region when compared to other Canadian markets. Interest rate hikes generally put upward pressure on the Canadian dollar, which also stifles interest from foreign buyers.
A trend that is expected to continue to strain the housing market is the hesitation from homeowners to put their properties on the market in fear that they will not be able to find another property. This will be amplified by the incoming OSFI stress test as some potential move-up buyers may not qualify for financing a new property. This lack of movement is expected to further constrain the supply of entry-level properties.
“We are watching how the new OSFI stress test will impact the Greater Vancouver market,” said Randy Ryalls, general manager, Royal LePage Sterling Realty. “Low inventory will continue to put upward pressure on prices. However, with the introduction of the stress test, as well as other factors such as potential interest rate hikes, price growth will likely be limited to mid-single digits.”
Ottawa
Home prices in Ottawa are forecast to increase 3.2 per cent in 2018, rising to an aggregate price of $458,208, reflecting the strong economic growth anticipated in the region through next year. Currently, housing inventory in the Ottawa market is very low and this trend is expected to continue throughout 2018, putting upward pressure on home prices.
As demand in the region is exceptionally high, the incoming OSFI stress test is expected to be quickly absorbed, limiting impacts on both home sales and prices.
“Ottawa is known for its steady growth and we expect consumer confidence to remain high throughout 2018,” said Hanna Browne, broker, Royal LePage Team Realty. “Most buyers who migrate to Ottawa have found employment locally prior to arriving, however, we are still seeing a surge of demand from buyers employed in Toronto who have the ability to work remotely full or part-time.”
Calgary
Home prices in Calgary are forecast to increase 2.3 per cent in 2018, rising to an aggregate price of $494,109 as the region further emerges from recovery. The region’s housing market has been supported by stabilizing oil prices and improving employment rates. While it could take several years for the economy to improve to pre-downturn levels, Alberta is poised to be one of the fastest growing economies in 2018. In turn, this will likely further improve consumer confidence. While the energy sector will continue to be the most important factor influencing the housing market, the region has seen growth in non-energy sectors helping to mitigate risk through a more diversified economy.
Though the incoming OSFI stress test is expected to slow sales at the beginning of the year, buyers and sellers are expected to adjust, and the delayed market could result in brisker sales beginning in late spring, potentially finishing strong at the end of the year.
“Continued strong competition for homes priced between $400,000 and $500,000, coupled with the incoming OSFI stress test, will likely push first-time buyers into the condo segment where they have ample selection at affordable prices,” said Corinne Lyall, broker/owner, Royal LePage Benchmark. “One positive impact of the measure may be that it will improve the health of the condominium market.”
Edmonton
The aggregate home price in Edmonton is expected to decrease 1.5 per cent in 2018 and end the year at $382,180. While Edmonton’s economy has stabilized, the region has not seen a significant improvement in employment, which is needed to lift home prices. On a positive note, the Conference Board of Canada is predicting Edmonton to show modest but sustainable GDP growth of 2.2 per cent in 2018.[6]
Although the impact of the OSFI stress tests is expected to be less pronounced compared to previous measures targeting first-time buyers, sales in the beginning of the year will be slower as move-up buyers who do not meet new financing criteria temporarily move to the sidelines. However, sales for the full year are expected to be similar or slightly higher compared to 2017 levels.
“The best advice I can give a seller in Edmonton is to make sure your pricing is very accurate,” said Tom Shearer, broker and owner, Royal LePage Noralta. “A trend we will continue to see in 2018 as we remain in a buyer’s market, is heightened price sensitivity. Buyers expect to negotiate within 2 to 3 per cent, and if you are outside that range they just move on.”
Winnipeg
Home prices in Winnipeg are expected to increase 4.0 per cent in 2018, rising to an aggregate price of $315,120. The region’s economy has benefitted from an increase in population and a low unemployment rate, which are expected to continue to put upward pressure on home prices and help maintain strong sales activity consistent with 2017 levels.
Strong demand for housing and low inventory is expected to continue through 2018, mitigating the dampening effect of the incoming OSFI stress test and limiting its impact to the first quarter.
“New regulations often create a ‘wait-and-see’ approach as buyers and sellers try to determine the long term impact,” said Michael Froese, managing partner, Royal LePage Prime Real Estate. “The strength of our economy and housing affordability are much more significant in determining the health of our real estate market than the expected impact from the incoming OSFI stress test.”
Halifax
Home prices in Halifax are expected to increase 2.5 per cent in 2018, rising to an aggregate price of $326,975. The region’s economy has been expanding and the manufacturing sector, a key indicator for the region, is expected to continue growing through 2018. The region’s housing market has benefitted from both population and job growth. Inventory in the downtown core is expected to remain low and sales are expected to increase modestly by the end of 2018.
“We don’t expect the incoming OSFI stress test to have a significant effect on Halifax’s housing market. Homes are affordable and buyers rarely extend themselves,” said Matt Honsberger, president, Royal LePage Atlantic. “Our economy is a good news story and we expect that it will be the biggest driver of price appreciation in 2018.”
Regina
Home prices in Regina are expected to increase 0.7 per cent in 2018, rising to an aggregate price of $329,289. Employment from a modestly improving energy sector and international immigration is expected to put upward pressure on both home prices and sales. However, a net loss from interprovincial migration and a surplus of inventory will keep price appreciation at a modest pace. The region continues to be heavily reliant on potash and energy. Any improvement in either sector could lift home prices in 2018.
“The region is expected to remain a buyer’s market throughout 2018. Home sellers need every available tool to properly market their home if they want to sell this coming year,” said Mike Duggleby, broker and managing partner, Royal LePage Regina Realty. “The most important factor to get right is pricing. Buyers have enough selection that they won’t consider a property that isn’t already priced in a competitive range.”
Royal LePage Market Survey Forecast
| Region |
2017 Aggregate Home Price
(Estimate)
|
2018
Aggregate Home Price
(Forecast)
|
Year-over-Year
(%)
|
| Canadian House Price Composite
(53 Cities)
|
$631,000 |
$661,919 |
4.9% |
| Greater Toronto Area |
$844,000 |
$901,392 |
6.8% |
| Greater Montreal Area |
$387,000 |
$408,285 |
5.5% |
| Greater Vancouver |
$1,287,000 |
$1,353,924 |
5.2% |
| Ottawa |
$444,000 |
$458,208 |
3.2% |
| Calgary |
$483,000 |
$494,109 |
2.3% |
| Edmonton |
$388,000 |
$382,180 |
-1.5% |
| Winnipeg |
$303,000 |
$315,120 |
4.0% |
| Halifax |
$319,000 |
$326,975 |
2.5% |
| Regina |
$327,000 |
$329,289 |
0.7% |
Download Chart (.pdf)
About the Royal LePage Market Survey Forecast
The Royal LePage Market Survey Forecast provides year-over-year price expectations for Canada’s nine largest markets. Housing values are based on the Royal LePage National House Price Composite, produced through the use of company data in addition to data and analytics from its sister company, RPS Real Property Solutions, the trusted source for residential real estate intelligence and analytics in Canada. Commentary on housing and forecast values are provided by Royal LePage residential real estate experts, based on their opinions and market knowledge.
About Royal LePage
Serving Canadians since 1913, Royal LePage is the country’s leading provider of services to real estate brokerages, with a network of almost 18,000 real estate professionals in more than 600 locations nationwide. Royal LePage is the only Canadian real estate company to have its own charitable foundation, the Royal LePage Shelter Foundation, dedicated to supporting women’s and children’s shelters and educational programs aimed at ending domestic violence. Royal LePage is a Brookfield Real Estate Services Inc. company, a TSX-listed corporation trading under the symbol TSX:BRE.
For more information visit: www.royallepage.ca.
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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.