Stable Vancouver property market draws apartment investors, Mainland Chinese

June 29, 2010 — Jennifer

This is an article found in the June 29 of Business in Vancouver. It talks about the effects of Mainland Chinese investors on the Vancouver property market. Take a look at what our principal, Eric Lee, has to say about this current trend of oversea investors.

Vancouver’s stable rental market continues to draw investors, despite a slight uptick in vacancies. In the latest deal, 998 Thurlow Street, a 44-unit apartment block built in 1916 and listed with Avison Young, sold for $12.1 million.

“It sold at full price – quite amazing,” remarked veteran broker David Goodman of Macdonald Commercial, who expects close to 85 apartment properties to trade in Metro Vancouver this year. A total of 74 buildings changed hands last year…

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Written by: Peter Mitham
Date: June 29, 2010

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Introduction to a new VictorEric project

June 29, 2010 — Jennifer

We have a new and exciting project happening in the West Point Grey are on West 8th Avenue in Vancouver.

As you can see in the pictures below, there is a magnificent view of downtown Vancouver and the water. West 8th Magnificent View

West 8th view of the mountains

We started the excavation on June 27th and we are so excited to help another family build their dream home. The design process has been ongoing for a few weeks prior to excavation and it is slowly coming beautifully together. Construction is being done by Kellog Dream Home Builders and we look forward to a great collaboration with Ray and his wonderful team.

West 8th Excavation

This house will be done in a modern design with floor to ceiling glass to take advantage of the amazing view outside. If you are in the area, be sure to check this exciting project out!

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If buying new, buy what you need to beat the HST

June 28, 2010 — Jennifer

The tax on new construction priced less than rebate threshold of $525,000 will be no greater after July 1 than it is today

The excitement is building. There are only five more sleeps until HST becomes a reality in B.C.

Facetiousness aside, and despite the relentless protests against the harmonization of the federal and provincial sales taxes in this province, get ready to dig a little deeper into your pockets on July 1.

Great way to celebrate Canada Day and the start of the summer vacation season, huh?

Regarding new homes, there are some misconceptions about the new tax. First off, the HST, like the GST, will not apply to existing homes. Second, if the new home is priced below the rebate threshold of $525,000, buyers will pay no more tax after July 1 than they currently pay under GST.

And although it might be obvious that five per cent GST and seven per cent PST equal 12 per cent, buyers of new homes priced above $525,000 will not pay the full 12 per cent for their homes because various rebates and tax credits apply. But make no mistake, some homebuyers are still going to feel the sting…

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Posted by: Peter Simpson
Date: June 26, 2010

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Vancouver becoming destination for house-hunting tours from China

June 28, 2010 — Jennifer

Vancouver has beautiful scenery and attracts lots of visitors all over the world each year. Now it seems like the goal of some tourists isn’t to visit popular destinations around the city but to scout for housing deals.

VANCOUVER — Chinese interest in Vancouver-area real estate is so strong that it’s fuelling a market for real estate tourism, with groups of wealthy travellers scheduling visits to the city for the sole purpose of house hunting.

China-based Internet sales company SouFun is organizing two tours — groups of about 20 each from Beijing and Shanghai — which will visit Vancouver and Toronto in August on the hunt for “million-dollar or multi-million-dollar” listings.

First reported in Vancouver’s Ming Pao Daily News, and repeated on the news blog Chinese in Vancouver, a SouFun spokesman said potential buyers are particularly drawn to neighbourhoods with “famous” schools or ocean views.

Ming Pao reporter Eric Chan said SouFun drew a lot of participation for the tours from areas around Shanghai…

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VictorEric Design Group

Posted by Derek Penner
Date: June 28, 2010

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Theme For A Summer Space

June 25, 2010 — Jennifer

The West Ender wrote an article about some summer space ideas for with our principal Eric Lee earlier this week. There are many interesting ideas in the article that I hope all of you can find useful in your homes.

Pleace click for the article

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Company lunch at the park

June 25, 2010 — Jennifer

Every Friday the whole office goes out for lunch as a group. Since it was so beautiful outside today, we decided to have a pizza picnic at a nearby park. We’ve been talking about doing an outdoor lunch for a long time and finally the weather worked out for us. We had beach chairs, frisbees, and floor mats all set up. Some of the girls even got on the swings! It was a great way to wind down after a busy week here at VictorEric.

Eric throwing the Frisbee

Eric throwing the Frisbee

All of us

All of us

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Minister’s Briefing

June 21, 2010 — Jennifer

Provincial Finance Minister Colin Hansen popped in to the CHBA-BC Board meeting on Friday to comment on the state of the economy and, of course, the HST. He said there are signs of economic growth in B.C. and the province is expected to fare better than the rest of Canada. The province is just shy of setting new employment records and the retail sector is reporting record highs for sales. He said the province is operating at a $1.7 billion deficit but expects to emerge from a deficit situation by 2013. He said he knew last summer the HST was going to be a tough sell but he still believes HST will be good for B.C. He said there is still lots of cynicism around HST (you think?). When asked about the likelihood of a provincial tax credit for home renovations to help combat the growing underground cash economy, Hansen said this issue is “still very much an active file.” When asked how he came up with the $525,000 HST threshold for new homes (raised from the original $400,000), Hansen answered, “to be perfectly honest, right off the top of my head.” With that reasoning, I can’t help thinking if the minister were a taller man, the threshold might have been set at $750,000.

Written by: Peter E. Simpson for the GVHBA Monday Morning Briefing
Date: June 21, 2010

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Eco Friendly Whiteboard Paint Turns Any Wall Into an Artistic Canvas

June 21, 2010 — Jennifer

I’m sure most of you have heard of chalkboard paint, now how about whiteboard paint? Drawing on walls won’t get you in trouble anymore. Check out IdeaPaint’s new tabrasa™ paint that transforms an ordinary wall into a dry erase board! Not only is this paint innovative, it’s also eco-friendly!

Find out more by clicking here!

Article by: Evelyn Lee
Date: June 17, 2010

Posted in Cool Products, Eco-Design, Environmental. No Comments »

Products That Are Earth-and-Profit Friendly

June 17, 2010 — Jennifer

As the world’s greatest soccer players take to the fields at the FIFA World Cup in South Africa, many are wearing jerseys made almost entirely from plastic bottles rescued from landfills in Japan and Taiwan.

It is, if nothing else, good publicity for Nike, the maker of the jerseys and the official sponsor of nine teams, including the United States, Brazil and Portugal.

Yet what many might view as a gimmick is also part of a broadening effort by the company to incorporate sustainability, or environmentally responsible practices, into its product design. Around the globe, a growing number of manufacturers are including more recyclable or biodegradable components into products.

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Posted By: Sindya N. Bhanoo
Date: June 11, 2010

Posted in Cool Products, Environmental. No Comments »

B.C. home sales to fall while prices climb, analyst predicts

June 15, 2010 — Jennifer

Inventory rose 19 per cent in May, B.C. Real Estate Association reports

The number of B.C. home sales is forecast to drop this year even as housing prices for the year are expected to rise from 2009, said a new report.

Average home prices are anticipated to climb by six per cent this year over last, to $494,600, said Cameron Muir, B.C. Real Estate Association chief economist, said in his housing forecast released yesterday.

“That really represents the price increases that have already happened.” Prices reflect sales of all types of homes sold through the multiple listing service.

“We are looking at quite stable pricing going forward,” Muir said from Vancouver.

Next year will see average prices for homes rise by one per cent to $499,700, he said…

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Posted by: By Carla Wilson, Times Colonist June 8, 2010
Date: June 8, 2010

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