PRICE TRENDS BY AREA (JULY – AUGUST 2010)
September 3, 2010 by Barry Fence · Leave a Comment
As you probably noticed, some of the percentage changes are quite large. Typically, in December and in the summer months when there are much fewer home sales, the average price in a category can be skewed by a small number of lower-priced or higher-priced properties selling in the same month. Just like a stock on the stock market can have many up and down deviations in the short term but in the longer term have an upward (or downward) slope. It’s the long term trend that we are most interested in as home buyers/owners/investors.
Click HERE to see the previous chart for June to July 2010.
AUGUST 2010 MARKET STATS
September 3, 2010 by Barry Fence · Leave a Comment
Buyer’s market conditions continue in Greater Vancouver
VANCOUVER, B.C. – September 2, 2010 –
Conditions in the Greater Vancouver housing market continued to favour buyers in August. Since April, prices have edged down slightly as the number of sales and the number of properties coming on to the market have been declining.
The Real Estate Board of Greater Vancouver (REBGV) reports that the number of residential property sales in
Greater Vancouver totalled 2,202 in August 2010. This represents a 36 per cent decline from the 3,441 sales in August
2009, the second highest selling August ever recorded, and a 2.4 per cent decline compared to July 2010.
From a wider perspective, last month’s residential sales represent a 40.4 per cent increase over the 1,568 residential
sales in August 2008, a 34.9 per cent decline compared to August 2007’s 3,384 sales, and a 26.6 per cent decline
compared to August 2006’s 2,998 sales.
New listings for detached, attached and apartment properties declined 17.5 per cent to 3,750 in August 2010
compared to August 2009 when 4,544 new units were listed. Total active listings in Greater Vancouver currently sit at
15,421, a 6.1 per cent decline from last month and a 29 per cent increase from August 2009.
“We’re seeing moderate demand, low interest rates and a healthy but slowing stream of supply in our marketplace,
all variables that favour those looking to purchase a home,” Jake Moldowan, REBGV president said. “The last few
months have also shown some stability when it comes to price fluctuations in the region, which is a welcome trend
after reaching record highs in April.”
Since spring, housing prices have decreased 2.8 per cent compared to the all-time high reached in April when the
residential benchmark price was $593,419. Over the last 12 months, the MLSLink® Housing Price Index (HPI)
benchmark price for all residential properties in Greater Vancouver increased 6.9 per cent to $576,597 in August 2010
from $539,600 in August 2009.
“Canada remains an attractive destination for foreign buyers, a fact that continues to affect activity in the Greater
Vancouver housing market,” Moldowan said.
Sales of detached properties in August 2010 reached 893, a decrease of 34.7 per cent from the 1,367 detached sales
recorded in August 2009 and a 66.9 per cent increase from the 535 units sold in August 2008. The benchmark price for
detached properties increased 8.5 per cent from August 2009 to $795,076.
Sales of apartment properties reached 935 in August 2010, a decline of 36.1 per cent compared to the 1,464 sales in
August 2009 and an increase of 26.4 per cent compared to the 740 sales in August 2008.The benchmark price of an
apartment property increased 4.5 per cent from August 2009 to $385,968.
Attached property sales in August 2010 totalled 374, a decline of 38.7 per cent compared to the 610 sales in August
2009 and a 27.6 per cent increase from the 293 attached properties sold in August 2008. The benchmark price of an
attached unit increased 6.6 per cent between August 2009 and August 2010 to $489,511.
| Source: Real Estate Board of Greater Vancouver |
BROCHURE ADDED FOR 501-720 HAMILTON, NEW WESTMINSTER
September 3, 2010 by Barry Fence · Leave a Comment
NEW LISTING! SPACIOUS LUXURY IN UPTOWN NEW WEST!
August 31, 2010 by Barry Fence · Leave a Comment
Looking to down-size from a house or a uniquely spacious unit? This is the one! Located in the heart of Uptown New Westminster, literally steps away from convenience, this 1,252 square foot, Embassy-built (Ryan Bosa), stunning and bright south-west facing suite has 2 bedrooms and a den, 2 bathrooms, TWO balconies and THREE parking stalls!!
The home features a large and modern kitchen with island and granite countertops, spacious master bedroom with southwest city views, formal dining area, living room with gas fireplace, open den, large in-suite storage/laundry room and two balconies to enjoy the garden view and mountain glimpses! Three parking stalls is a rarity! Well-maintained building with pro-active strata and large contingency. Absolute convenience; just steps away from Royal City Mall, Save-on-Foods, London Drugs, restaurants, New West library, Moody Park, and transit.
“GROW OPS” – HISTORY AND IDENTIFICATION
August 21, 2010 by Alice Fence (Wong) · Leave a Comment
WHAT IS A GROW OP?
A grow op, short for “grow operation” is any building that has been leased or bought by persons in the drug trade and turned into an indoor nursery or hydroponics operation to grow marijuana plants. A grow house is any grow op located in residential buildings. Police estimate that there are more than 50,000 active grow ops in Canada today and the number continues to increase.
DAMAGE CAUSED BY GROW OPS
To grow a hydroponic marijuana crop indoors, a number of “renovations” to the property may be required. Unfortunately, these renovations have the potential to cause defects to the structure of the property and repairs can cost several thousand dollars; in extreme cases, the house to be completely torn down.
Firstly, large amounts of water are required to grow a marijuana crop and growers need some form of ventilation to handle the excess moisture generated. This may necessitate modifications to the drain system or venting through the roof.
Secondly, the large amounts of moisture required to grow indoors can generate a considerable amount of mould and spores. There are also a number of noxious gases that develop in the process. Exposure to indoor mould has been associated with exacerbation of asthma in mould-sensitive people and with increased upper respiratory disease.
Thirdly, an enormous amount of power is required to run a grow operation and illegal cables may be hooked up to the power source for the house, drawing far more power than the supply transformer is intended to provide. Moreover, the lines are often cut to the power meter to prevent police and hydro companies from identifying the grow op; however, this is capable of killing someone who accidentally steps on them. Heavy power usage can overheat and reduce the transformer’s life, which can result in fires months or years down the road.
Lastly, the foundation of the property is often compromised in some way so that the electricity supply can be hooked up behind the meter, hiding the actual connection points and ensuring that the increased load is not detected. House wiring and lighting circuits are modified, overloading electrical systems and making the houses hazardous to entire neighbourhoods.
IDENTIFYING A FORMER GROW OP
It is wise to never assume the location is too bizarre or inconvenient to be a grow op. Police have located grow operations in new housing developments, in large and small homes, in basements and attics, in high-rise apartments and warehouses and out buildings. They have even been discovered in vehicles like tractor-trailers, campers, motor homes and railroad cars.
Grow ops often require extensive cleanup and repair. It is possible that these repairs were never made and the real damage is hidden. Noticeable signs that you may be dealing with a former grow op include:
- Mould in corners where the walls and ceilings meet.
- Sign of roof vents.
- Painted concrete floors in the basement, with circular marks of where pots once were.
- Evidence of tampering with the electric meter (damaged or broken seals) or the ground around it.

- Unusual or modified wiring on the exterior of the house.
- Brownish stains around the soffit that bleeds down along the siding.
- Concrete masonry patches, or alterations on the inside of the garage.
- Patterns of screw holes on the walls.
- Alteration of fireplaces.
- Denting on front doors (from police ramming the door).
IN SUMMARY
Marijuana cultivation has grown considerably in popularity over the years simply because it is a very profitable business. The low risk and relatively lenient sentences continue to encourage growers and these operations are eventually becoming major businesses. The unfortunate reality is that small independent grow operations are gradually being taken over by large international criminal enterprises. Marijuana is by far the most popular and widely available illicit drug in Canada and law enforcement agencies believe it is unlikely the current trend will change in the near future.


























