March-2015-Market-Recap-Vancouver-Real-Estate-604-218-4846

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Carmen Leal - Vancouver Real Estate​ 604.218.4846

Depreciation Reports: IMPORTANT NEW REQUIREMENTS FOR STRATAS

If you're planning to buy a strata property, it's important that you read strata council minutes, engineering reports and the strata depreciation report, where there is one in place.

What is a strata depreciation report?

It's a report that estimates the repair and replacement costs for major items in the strata corporation and the expected life of those items.

Thanks to the advocacy efforts of the Real Estate Board of Greater Vancouver, the BC Real Estate Association and many strata associations, the BC Real Estate Association and many strata associations, the BC government passed regulations to the Strata Property Act in late 2011, which made strata depreciation reports mandatory in some cases.

Depreciation reports required

Strata corporations with five or more units were required to complete a depreciation report by Dec 13, 2013 and must update their depreciation report every three years.

Depreciation reports not required

Strata corporations of four or fewer strata lots are not required to provide a depreciation report. What does a strata depreciation report include?

* An on-site inspection and inventory of the common property and building systems.

*A schedule of anticipated maintenance, repairs and replacement costs for common expenses projected over 30 years.

* A financial forecast that includes costs and cash-flow funding models for the contigency reserve fund.

How can a strata be exempt?

A strata corporation can exempt itself from the obligation to obtain a depreciation report by passing a resolution with a three-quarters majority vote at an annual general or special general meeting.

The strata corporation then has 18 months from their last exemption vote to either hold another vote or create a depreciation report.

Who prepares a depreciation report?

Someone who has the knowledge and expertise to understand the individual components, scope, and complexity of the strata's property. Often, professionals such as engineers, architects, or appraisers have this expertise. In all cases, the professionals should have errors and omissions insurance.

For more information contact Carmen Leal Real Estate at 604-218-4846 or email carmen@carmenleal.ca

YOURS,

Carmen Leal

Real Estate Services

604.218.4846

New-Listing-601-1108-Nicola-Street

New Listing!

For further details click on the link below.

http://carmenleal.ca/mylistings.html/details-46816763

Yours,

CARMEN LEAL

Real Estate Specialist

www.CarmenLeal.ca

604.218.4846

THE HIGHEST COMPLIMENT I CAN RECEIVE IS THE REFERRAL OF YOUR FRIEND, FAMILY, OR BUSINESS ASSOCIATE. THANK YOU KINDLY IN ADVANCE!

Open House: 4552 Highland Bv, North Vancouver BC

4552 Highland Bv, North Vancouver BC

Sunday, March 22 from 2:30pm to 4:00pm

http://carmenleal.ca/mylistings.html/details-46690714

For further details contact Carmen at 604.218.4846

Any thoughts of selling or interested in knowing the value of your home? Feel free to contact me at 604.218.4846 or simply click on  http://carmenleal.ca/home-evaluation.html. Call me today so I can provide you with a free home evaluation. Also, ask me about my marketing package and strategy!

Vancouver-ranked-most-liveable-city-in-North-America-for-2015

The 2015 Quality of Living survey ranks Vancouver as the best city in North America for quality of life… again!

Vancouver renewed its title of fifth most liveable city in the world and first in North America, beaten only by Vienna, Zurich, Auckland and Munich. 2014’s survey, conducted by Mercer, returned the same results.

The survey looks at several factors such as personal freedom, crime, political stability and air quality, and Vancouver’s milder climate is one of the main reasons for it having a higher ranking in North America.

SEE ALSO: Vancouver International Airport named North America's best for 6th year

The survey also looks at housing but not for the cost. If that were to be taken into account, Vancouver would most certainly dip a few spots in the ranking as would many cities. Almost every city on this list also ranks as one of the most expensive to live in.

While cities in Western Europe held a majority of the rankings, there were more Canadian cities in the top 35 than those in the U.S. Behind Vancouver was Toronto (15), Ottawa (18), Montreal (24) and Calgary (33).

Top 35 cities for quality of living:

1. Vienna, Austria
2. Zurich, Switzerland
3. Auckland, New Zealand
4. Munich, Germany
5. Vancouver, Canada
6. Dusseldorf, Germany
7. Frankfurt, Germany
8. Geneva, Switzerland
9. Copenhagen, Denmark
10. Sydney, Australia
11. Amsterdam, Netherlands
12. Wellington, New Zealand
13. Bern, Switzerland
14. Berlin, Germany
15. Toronto, Canada
16. Hamburg, Germany
17. Melbourne, Australia
18. Ottawa, Canada
19. Luxembourg, Luxembourg
20. Stockholm, Sweden
21. Stuttgart, Germany
22. Brussels, Belgium
23. Perth, Australia
24. Montreal, Canada
25. Nurnberg, Germany
26. Singapore, Singapore
27. Adelaide, Australia
28. Paris, France
29. San Francisco, U.S.A.
30. Canberra, Australia
31. Helsinki, Finland
32. Oslo, Norway
33. Calgary, Canada
34. Boston, U.S.A
35. Dublin, Ireland

For more information on Real Estate in Vancouver contact Carmen Leal at 604-218-4846 or simply visit www.carmenleal.ca

March 2015 Market Update

March 2015        English   |    中文（简体） Macdonald Realty Luxury Homes, Spring 2015 digital edition The latest edition of our magazine presents many of Macdonald Realty's finest listings in what is traditionally the most active season of the year. While flipping through, watch out for the new feature pages; we are pleased to highlight local artists and designers, and also cast our spotlight on a sampling of exceptional British Columbia wines. Please click the cover above to enjoy this edition - and feel free to call or email if you have any questions or comments. February Market Review Do you wondering how last month's market activity compares with this same time last year? Click the link below to our market statistic infographics where we break it down to even the neighbourhood level. If you have questions about the status of the current market, please do not hesitate to ask me. Abbotsford   Burnaby Bowen Island   Gulf Islands Cloverdale   Coquitlam Ladner   Langley Maple Ridge   Mission New Westminster   North Delta North Surrey   North Vancouver Pitt Meadows   Port Coquitlam Port Moody   Richmond South Surrey/White Rock   Squamish Surrey   Tsawwassen Vancouver Downtown   Vancouver East Vancouver West   West Vancouver Whistler   Victoria Kelowna   Penticton Osoyoos   Oliver Metro Vancouver real estate bidding wars spreading to suburbs Falling interest rates and declining inventory are driving sales, say experts. According to Greater Vancouver Real Estate Board president Ray Harris, there were 14 per cent fewer properties listed for sale across the region this past January when compared with January 2014. "This is creating greater competition amongst buyers, particularly in the detached home market. The number of detached homes listed for sale today is the second lowest we've seen in four years," said Harris. Read more... (CBC News) Vancouver firm offers a one-stop real estate shop for Chinese investors in B.C. When Vancouver-based Macdonald Realty dispatched Dan Scarrow, the agency's vice-president of corporate strategy, to China last March to investigate the feasibility of launching a branch office in Shanghai, the assignment was initially only going to be for four months. A year later, Scarrow, a second-generation Chinese Canadian who is fluent in Mandarin, is still there. The Vancouver Sun reached Scarrow in Shanghai by phone last week to discuss his progress, objectives and challenges in building a bridge for residential and commercial real estate investment between China and British Columbia as the new managing director of Macdonald's Canadian Real Estate Investment Centre in Shanghai. Read more... (MacBlog)       Market News With deep ties, B.C., Alberta adjust to a new real estate reality (The Globe and Mail) Is it time to sell your U.S. snowbird property? (The Globe and Mail) Lower Mainland News It's Cinderella time for North Vancouver as house prices shoot up (The Globe and Mail) In Vancouver, wealthy home buyers want it all - right down to the cutlery (The Globe and Mail) Vancouver housing prices rise, but folks keep on buying (Barbara Yaffe for The Vancouver Sun) Victoria & Vancouver Island News Victoria's Bay Centre sold (BIV) Island real-estate sales slump but prices holding (Oceanside Star) Greater Victoria's February real estate sales blossom forth (Times Colonist) February sales reflect strong, balanced market conditions (Campbell River Mirror) Okanagan News Oilpatch downturn slows Okanagan real estate market (The Province) Chinese investors target hotels, wineries, mineral water in British Columbia (South China Morning Post) *This communication is not intended to cause or induce breach of an existing agency agreement. *Although this information has been received from sources deemed reliable, we assume no responsibility for its accuracy, and without offering advice, make this submission to prior sale or lease, change in price or terms, and withdrawal without notice. **Should you not wish to receive this communication, please reply to this email with "Please Unsubscribe" in the subject line. ©2015 Macdonald Real Estate Group     Send Page as Email

Mount Pleasant: The neighbourhood at a glance

With its eclectic mix of restaurants, bars, coffee shops, heritage homes, condo developments, pedestrian friendly streets and accessibility to transit including the 10th Avenue Bike Route, the 99 B-Line bus and the Canada Line, Mountain Pleasant has become one the city's hottest real estate markets.   

Bounded by Cambie Street to the west and Clark Drive to the east, Second Avenue and Great Northern Way to the north and 16th Avenue and Kingsway to the south, Mount Pleasant is one of Vancouver's oldest neighbourhoods and considered by some to be the city's first suburb. Home to several breweries, creeks and fish-bearing streams in the late 1800s, hence its original nickname Brewery Creek, the area was annexed by the city in 1911 and grew into a bustling working class neighbourhood, luring first-time homeowners with more affordable real estate than on the city's West Side.

By the 1970s and '80s, Mount Pleasant had lost much of its bloom, garnering an unwanted reputation for its dilapidated houses, seedy back alleys and street prostitution. But as is often the case, cheap rent and real estate once again gave way to an influx of young families, first-time home buyers, independent business owners and creative types.

By the 1990s, gentrification was in full swing, and by the early 2000s new breeds of Mount Pleasant residents began shaping the neighbourhood and its image - developers, amateur real estate speculators, condo-flippers and that broad stereotype of the Pabst Blue Ribbon-swilling, fixed gear bike-riding Main Street hipster. Efforts to rebrand the area as SOMA (South of Main) have been met with mixed reactions, and the area is ground zero for the city's so-called east-west divide, which occurs along Ontario Street.

With its eclectic mix of restaurants, bars, coffee shops, heritage homes, condo developments, pedestrian friendly streets and accessibility to transit including the 10th Avenue Bike Route, the 99 B-Line bus and the Canada Line, Mountain Pleasant has become one the city's hottest real estate markets.

Depending on whom you ask, the community is undergoing a "rapid and exciting transformation" or at risk of losing the very characteristics that made it attractive in the first place, as witnessed by the heated debate over the proposed RIZE condo tower and the expansion of the Kingsgate Mall proposal.

Whatever the case, Mount Pleasant continues to charm. In November it was announced that social media company Hootsuite had outgrown its Railtown nest and struck a deal with the city to move its head office to a 33,000-square-foot, two-storey office building in near Main and Broadway, ushering in yet another phase of this ever-changing neighbourhood.

Yours,

Carmen Leal
Macdonald Realty Ltd.
www.CarmenLeal.ca
604-218-4846