Debbie Evans REALTOR® with Royal Lepage Sussex

Cell: 778-875-4934 |

I lived in Squamish and recently sold my home there and I am not surprised to see it growing as it is but I am a bit surprised at how close the pricing is to the North Shore now. There are very few jobs and amenities and you have to drive to get to work or go anywhere. We spent a lot of money in our budget on gas and vehicles while the kids were young. 


I spoke to a builder the other day and I am going to look more into this further but he told me people are building at $ 350 SFT Approx now in Squamish. I noticed a lot of the price Per SFT selling is around $ 400- $ 500 SFT. Prices are adjusting down a bit but not as drastically as the North Shore and Vancouver. 


Squamish’s population is growing: In 2016, it was 19,512, up from 17,158 in 2011, an increase of 13.7 percent.


I loved living in Squamish when it was affordable and still go there often as my son lives and works there but he can hardly afford to live there anymore and more and more people are moving back to the city. 


Will Squamish see a large price correction or keep rising as it has been? 


Here is a recent Article from the Vancouver Sun about Squamish. it is an amazing place to live but do your homework before buying and look at all of your options as it is a big investment long term. 


Vancouver Sun Article - 

Squamish: Canada’s outdoor capital is also one of its fastest growing communities

https://vancouversun.com/homes/westcoast-homes-and-design/buying-selling-westcoast-homes-and-design/squamish-canadas-outdoor-capital-is-also-one-of-its-fastest-growing-communities




See two examples I posted below on similar homes in Squamish and North Vancouver.



See this listing in Squamish 

40332 ARISTOTLE DRIVE

UNIVERSITY HIGHLANDS SQUAMISH V8B 0V5

$1,678,000

RESIDENTIAL DETACHED BEDS: 4 BATHS: 4.0 

2,969 SQ. FT. 

Lot Area: 6,797 sq. ft.

BUILT: 2016


Average Price per SqFT in this area $ 494 


Link Attached 

https://debbieevans.ca/recip.html#!/wps/-/noframe~true,tmpl~v2/recip/45928/browse/details-72215493


Main Photo: 40332 ARISTOTLE Drive in Squamish: University Highlands House for sale in "UNIVERSITY MEADOWS" : MLS®# R2231456





Similar Listing North Vancouver Lynn Valley 

1534 BURRILL AVENUE

$1,878,000

RESIDENTIAL DETACHED BEDS: 6 BATHS: 4.0 

2,746 SQ. FT. BUILT: 2017

Lot Area: 4,024 sq. ft.

LYNN VALLEY NORTH VANCOUVER V7K 1L9


Average Price per SQFT in this area $618.79


Link Attached 

https://debbieevans.ca/recip.html#!/wps/-/noframe~true,tmpl~v2/recip/45928/browse/details-80255428

Main Photo: 1534 BURRILL Avenue in North Vancouver: Lynn Valley House for sale : MLS®# R2313590

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I would love to represent a buyer for this magnificent Penthouse Unit 

located in Vancouver.


It would not take much to customize this to your own personal taste. 


Call Debbie 778 875 4934 


$17,300,000

RESIDENTIAL ATTACHED BEDS: 2 BATHS: 3.0 2,740 SQ. FT.BUILT: 1960
 
2001 1835 MORTON AVENUE
WEST END VW VANCOUVER V6G 1V3

This property is a co-op property, so the purchaser is exempt from the FOREIGN BUYER TAX and the PROPERTY PURCHASE TAX.
 
6000 square feet of incredible penthouse living. The entire top floor is yours offering spectacular views, ultimate privacy & security. Every city has its one and only special property and this is Vancouver’s. There is no other property like it. Over $3,000,000 spent on rebuilding the entire OUTDOOR LIVING to match the incredible indoor living.

Hand crafted like a piece of art this property is phenomenal. There are too many features to list; i.e. 3 outdoor fireplaces, hidden outdoor shower area, wine room & BBQ.

The property must be seen to be appreciated. Located on the beach in Vancouver’s famed English Bay & just 2 blocks to Stanley Park.

There’s Parking for 4 cars.




 








 
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Great Price on this 2 BD 2 Bath 55+ Living Condo in Lynn Valley 


Call me if you are interested in viewing it or purchasing it! I can help you paint and customize your new home to your liking!


Debbie 778 875 4934 



205 2020 CEDAR VILLAGE CRESCENT

WESTLYNN NORTH VANCOUVER V7J 3P5
 
$520,000
RESIDENTIAL ATTACHED BEDS: 2 BATHS: 2.0 1,095 SQ. FT.BUILT: 1990

Welcome to Kirkstone Gardens - affordable 55+ living in Lynn Valley. With almost 1100 sq feet this 2 bedroom ( huge master) 2 bathroom condo home has all the right stuff. There's an eating area in the kitchen with good sized principal rooms plus side by side washer/dryer, great in-suite storage space, a gas fireplace included in your strata fees and the perfect exposure looking out onto the front garden, roundabout and sunshine. The balconies have been resurfaced so you can move right in and enjoy the outdoor space. Well cared for and a great group of fun seniors that enjoy the many social events. Bring your decorating ideas and voila..... perfection. Sorry - no rentals and no pets allowed.

Prop. Type: Residential Attached
MLS® Num:R2281750
Status: Active
Bedrooms: 2
Bathrooms: 2
Year Built: 1990


https://debbieevans.ca/recip.html#!/wps/-/noframe~true,tmpl~v2/recip/45928/browse/details-76754443



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METRO VANCOUVER


A quick snapshot of Metro Vancouver's real estate market today covering the following areas: Downtown, Westside, Eastside, West Vancouver, North Vancouver, Richmond, Tsawwassen and Ladner. All single family home, townhome and condo data sourced from the REBGV MLS®.





GREATER VANCOUVER



A quick snapshot of Greater Vancouver's real estate market today covering the following areas: Burnaby, New Westminster, Coquitlam, Port Coquitlam, Port Moody, Pitt Meadows and Maple Ridge. All single family home, townhome and condo data sourced from the REBGV MLS®.


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COMPLETELY UPDATED SOUTH EAST CORNER, 2 BEDROOM GARDEN SUITE !


Engineered hardwood floors throughout, new open kitchen, quartz countertops, marble backsplash, 4 new S/S appliances, new carrara marble look bathroom, including all new fixtures, mirrored closet doors, smooth ceilings throughout with crown molding, newly tiled real gas fireplace (gas included in maintenance fees), new blinds throughout, new light fixtures, decora electrics, etc.


The newly surfaced 282 sq ft patio extends your living space to a total of 1100 sq ft! One cat is allowed (sorry no dogs) electric BBQ allowed, includes a secure parking stall and storage locker. Steps to Ambleside beach, shops, seawall, transportation, schools, and restaurants (new Earls is a 4 min walk!).



Prop. Type: Residential Attached
MLS® Num: R2308114
Status: Active
Bedrooms: 2
Bathrooms: 1
Year Built: 1980



See link for more info 


https://debbieevans.ca/recip.html/evow/listing.r2308114-102-1340-duchess-avenue-west-vancouver-v7t-1h6.79668928



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We all know that for most households earning a median income, buying a detached house in Metro Vancouver is highly unaffordable, unless they have already built up considerable equity or have another source of wealth.




But exactly how much of a gap is there between median incomes earned in the region, and the income you’d need to buy the average priced house in that area? And which areas see the biggest income gaps? This is the topic of a new study and infographic by real estate portal Zoocasa, released September 12.


To assess affordability across the region, Zoocasa’s number-crunchers looked at August benchmark detached home prices in 21 Metro Vancouver markets, as well as the minimum income required to purchase and carry such a property based on a 20 per cent down payment. The required income was compared to the actual median household incomes in each area, sourced from Statistics Canada, to find the local house-price-to-income gap.


Full Article - See Link 


https://www.vancouverisawesome.com/2018/09/12/unaffordable-homes-vancouver-infographic/





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Affordability options still remain in Vancouver


The blistering heat of the Vancouver residential real estate market is especially apparent in the city’s detached houses – but fortunately for affordability hunters, some viable options still remain in the apartment segment.

Using August 2018 benchmark price data from the Real Estate Board of Greater Vancouver, a new analysis from information portal and brokerage Zoocasa found that Port Coquitlam is the best pocket of affordability in Metro Vancouver, as the average-priced apartment (valued at $471,700) requires an income of $69,782, which is $14,368 below the area’s median household income of $84,096.


North Surrey is also a good choice for apartments (benchmark price of $433,100), as this property type in this locale requires a minimum income of $64,463. This is $13,031 lower than the actual median income of $77,494.



1. West Vancouver
Benchmark Price: $1,190,200
Minimum Required Income: $167,738
Actual Median Income: $89,808
Income Gap: $77,930


2. Vancouver West
Benchmark Price: $825,000
Minimum Required Income: $117,922
Actual Median Income: $65,327
Income Gap: $52,292


3. Burnaby East
Benchmark Price: $782,800
Minimum Required Income: $112,165
Actual Median Income: $64,737
Income Gap: $47,428


4. Richmond
Benchmark Price: $685,500
Minimum Required Income: $98,892
Actual Median Income: $57,779
Income Gap: $41,113


5. Burnaby South
Benchmark Price: $717,800
Minimum Required Income: $103,298
Actual Median Income: $64,737
Income Gap: $38,561


FULL ARTICLE LINK 

https://www.mortgagebrokernews.ca/news/affordability-options-still-remain-in-vancouvers-apartment-market-247943.aspx

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Price drop 2 million since last year 

I know this area well as I am working on the home next door. I am doing the design and it will be listed for sale when completed so I look into the yard and the view is the same. 

It is a beautiful new build and if you are interested I would be happy to show you. 

I would be happy to represent a buyer for this home. Contact Debbie 778 875 4934 

1417 Chartwell Drive
West Vancouver, BC, V7S 2R7 Chartwell 
Listing ID: R2305549

$13,998,000 ( Was $ 15,998,000) 
RESIDENTIAL DETACHED BEDS: 5 BATHS: 7.0 8,163 SQ. FT. BUILT: 2017

An absolutely stunning, luxurious masterpiece with clear, unobstructed ocean and city views in the most prestigious Chartwell area. This high quality custom built home offers lavish interiors, finished with superb materials, and workmanship, designed to maximized supreme, sweeping view. Open and exceedingly comfortable living spaces exude warmth while offering a modern sensibility. Enormous picture windows infusing the home with brilliant natural light. Enjoy spending time with loved ones in the open and spacious sun-drenched family room. This home offers the highest standard of living imaginable. Close to top rated catchment schools, Chartwell Elementary and Sentinel Secondary school, as well as shopping, golf courses, Cypress Mountain and much more.


Go to my link for more information 


https://debbieevans.ca/recip.html#!/wps/-/noframe~1,tmpl~v2/recip/45928/browse/listing.r2305549-1417-chartwell-drive-west-vancouver-v7s-2r7.79417568

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This morning I read an interesting article in The Star - Property investment is how this mom is providing for her kids’ future. Against the recommendations of two financial advisers, Jennifer Johnson has purchased two rental houses for her children. I sincerely hope there is misreporting in Jennifer's understanding of the tax implications of the capital gains she has made.


The article states, there are massive capital Gains Taxes on the appreciation of the properties - However, it also says there is no tax payable on this if she keeps the properties in her name, and passes them to the children as inheritances. This is incorrect. While the children won't pay capital gains tax - her estate will. If the estate doesn't have the cash to pay the capital gains tax, one or both of the properties may need to be sold to cover it. By holding the properties until her death, she will lose the option of staggering the gains over two (or possibly more) years. If the properties don't appreciate anymore between now and her death, her capital gain of $500,000 will give her a taxable income of $250,000 on her final tax return. The tax will need to be paid by the funds in her estate. This will put her in the whopping 53.53% Ontario marginal tax rate. Assuming that she has no other income that year, the taxes triggered will come to almost $100,000. Selling the properties over two years could save her about $25,000. Since all of her assets will be deemed sold upon her death, everything else that she has that is taxable that year, will be taxed at 53.53%. This includes her CPP, OAS and all the funds she has in her RRSP/RRIF. Her final tax return could well be ugly.


When Jennifer dies, if the children are living in these homes with their families, they will either need to come up with the cash to pay the taxes or sell the homes they live in to cover it. If the properties appreciate once the kids are adults and have moved in, the family will have lost the opportunity to have three properties covered by the principal residence tax exemption. Jennifer will be the owner of all three properties and can claim any of them since they are occupied by either her or her children - but she can only claim one. Her children's principal residence exemptions will go unused since they don't own residences.


Jennifer should also be careful not to "sell" the homes for a nominal value to the children. Selling the properties to adult children for below market value can result in double taxation. Gifting them to minor children will trigger capital gains tax as well as end up with the gains still taxable to Jennifer until they are of age. It's all a bit of a minefield - one misstep and it's TAX-TIME!


Math is hard. Taxes are harder! Unless you are a tax expert (and even if you are!), whatever workaround you have come up with to completely avoid taxes, has likely been thought of by the CRA. Not only have they thought of it, but they have come up with a way of thwarting it - possibly in a punitive manner!


While she may have done very well with her investments, she hasn't done as well as she appears to think. I hope she doesn't have all her eggs in this one basket. A little bit of knowledge is a dangerous thing. Get thee to a tax expert Jennifer!


Christine Williston is a Money Coach with Money Coaches Canada. She can be contacted Here. Christine works with business owners, families, and individuals to help them make wise financial decisions. She is available to work with private clients as well as speaking events



https://www.linkedin.com/pulse/death-taxes-same-ever-christine-williston/

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Price Drop!

This is a beautiful Home.

Reduced by $ 4,090,000 In the last year!

NOW $7,198,000
( $ 11,288,000 Originally listed - Oct 2017)

RESIDENTIAL DETACHED BEDS: 5 BATHS: 7.0 8,419 SQ. FT. BUILT: 2017

420 HIDHURST PLACE
BRITISH PROPERTIES WEST VANCOUVER V7S 2X6

2018 Ovation Awards Finalist, luxury Steel, wood and concrete structure home across from the exclusive Capilano Gulf course grounds in the BP. Impeccable workmanship with European flair in construction and design. 5 large bedrooms, Exclusive home theatre, game, pool table, amazing sauna, elevator for your convenience to all floors, high ceiling with ample natural light all around. Lovely foyer, large living and dining and family rooms with office looking out to the beautifully landscaped front yard and outdoor heated pool. Many sun tanning decks. Nanny or guest suite, two car garage with ample extra parking space on the expansive driveway. Must see entertainment & amenities. Exceptional engineering designs expertise throughout.

Call me if you are interested in purchasing a new home in West Vancouver Debbie 778 875 4934


See more info at the attached link 

https://debbieevans.ca/recip.html#!/wps/-/tmpl~v2,noframe~true/recip/45928/mls-R2295912?offmarket=true

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Balanced Market 

METRO VANCOUVER



Sellers Market 

GREATER VANCOUVER

















 
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2018 Price Drop $ 1,200,000 


Jan 2108 $ 5,880,000

Sept 2018 $ 4,680,000

See Link 

https://debbieevans.ca/recip.html#!/wps/-/tmpl~v2,noframe~true/recip/45928/mls-R2270854?offmarket=true


R2270854


PRICE SUBSTANTIALLY REDUCED! LOCATION, VIEW, LAYOUT & PRIVACY, this property has it all. Completely Rebuilt in 2006, this house features 4,800 sf living space over 2-level on a large 20,000 sf lot in the very centre of Rockridge. With stunning ocean, UBC & island view, this meticulously maintained house comes with flat & large front yard, 2-car garage, radiant heating, large living, family, dining, den, kitchen, eating, powder & laundry room on the main level; 5 bedrooms upstairs with 3 en-suite bathroom & one shared bathroom. 5 gas fireplaces throughout the house adding unique characteristics. Caulfeild Elementary & Rockridge Secondary catchments. Close to Mulgrave & Collingwood Schools. Your absolute love-in-first-site house. BRAND-NEW CEDAR ROOF. Open House: Sun (Sept 9th) 2-4pm.




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3417 ROXTON AVENUE

BURKE MOUNTAIN COQUITLAM V3B 7M9


$4,888,000

LAND ONLY

MLS® Num:R2285155

Lot Area:0.86 acre(s)


ATTENTION INVESTORS AND BUILDERS. Lot is on Burke Mountain prime location beside Coast Meridian road and just below David. Build up to 8 row homes (RTM-1) and 3 houses (RS-7). Approximately 3/4 of the lot is for sale, owner is keeping the portion of the lot where house is. One of a kind left on a QUIET STREET. Similar lots beside and across the street are already rezoned, built and sold. Unique opportunity.


I would be happy to assist any buyers wanting to purchase this land. I have also worke don many multi unit projects can assist with the build and design if needed. 


Debbie 778 875 4934 


https://debbieevans.ca/recip.html#!/wps/-/tmpl~v2,noframe~true/recip/45928/mls-r2285155?offmarket=true





Base Plan






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