How do housing bubbles work? A look at Toronto and Vancouver’s Real Estate Market.
Credit: Vancouver Sun
Please see the chart below describing the Market Trends for December 2016 on the Sunshine Coast BC.
When buying or selling a home, everyone wants the most advantageous situation. Both buyers and sellers want “the best price,” but this definition varies: Home buyers want to purchase the desired property at a good deal, while sellers want to receive their asking price.
A Balanced Market is a perfect solution being that you sell and buy within the same market (which is a huge advantage for those who are risk adverse in the Real Estate Industry).
The latest assessed values of properties on the Sunshine Coast are now available online with estimated increases of up to 40 per cent in some cases:
“The 2016 assessments are indicating significant increases from 2015,”says Assessor Jason Grant. “Increases of 15-25 per cent will be typical for single-family homes in Vancouver, North Vancouver, West Vancouver, Burnaby, Tri-Cities, New Westminster and Squamish. Single-family market movement in Whistler, Pemberton and the Sunshine Coast is less dramatic, with typical increases in the zero to 15 per cent range. Typical strata residential increases throughout the region will be in the five to 10 per cent range.”
The assessed values of houses in B.C. can be found at E-Value BC.
With the long weekend approaching, and the weather report calling for a “chance” of showers (what else is new here in B.C.?), it’s tempting to get out of the city and explore somewhere new. With the Sunshine Coast just a short 40-minute ferry ride away, here are 5 ideas of what to do this long weekend once you get to the Coast:
1. Farmer’s Market, Music Festivals and Local Shopping in Gibsons
The Coast is home to the a one of the highest population of artists, artisans and crafters in Canada. It seems that everywhere you go there are artist studios scattered along the way. I would suggest to start the tour at Gibson’s Landing, which is a quiet place to spend your afternoon browsing through locally owned shops, restaurants and art galleries. There are also Farmer’s Markets and Music during the weekend afternoon in Gibsons!
My favourite place to stop at Gibsons Landing is the Sunshine Coast Oil Co. Whenever I walk by I have to step in. The shop is full of different types of Olive Oils from all over the world – and the best part is that you can taste them? I never knew that there is this another entire world out there that is passionate about Oil’s, but this is a must stop place when visiting the Coast!
2. Beer Tour
There are two places on the Coast which us west coasters dream about – Brewing Companies! You see them popping up all over Vancouver, but did you know that the Sunshine Coast has two Brewing Companies of their own?
Persephone Brewing Company is near the ferry in Langdale – only a couple minute drive from Gibsons Landing – and partners with community organizers to plant vegetables ad their own organic hops on the land. The beer is great and the atmosphere is relaxed. Whether you are stopping by for a quick look or decide to get some lunch and a beer, the place is very welcoming and a great start of your Sunshine Coast tour!
If you are making the longer drive to Powell River, I would strongly suggest to visit Townsite Brewing. It is located in the old townsite area of town, and the atmosphere is fun while their beers are tasty and well-crafted. This place is well worth the trip!
3. 35th Annual Sunshine Music Festival in Powell River
The Sunshine Music Festival in Powell River is an annual event and not to be missed if you are on the Coast. There are world class performances in a picturesque setting at Palm Beach Park on the waterfront. You can also shop at the local craft markets and food vendors. Why I love it is because the Community Music Award donates 1 percent of gate receipts to a local artist or organization that promotes music and musicians in the Powell River area. It’s for a good cause and has great music!
4. Botanical Gardens Annual Harvest Festival
The Botanical Gardens Annual Harvest Festival in Sechelt is a great place to spend a relaxing Sunday afternoon. There will be live music by Brothers in Farms, plant sales, bake sales, and garlic sale. There is also an easy 1.1km walk throughout the gardens. What better place to spend a Sunday than in the garden?
5. Get Outdoors
One of my favourite ways of getting to know a place is to take a nice hike that leads to a phenomenal view. If the weather holds up this weekend, I would strongly suggest to walk through the Skookumchuck Narrows. It is a 4km loop through some of the most beautiful coastal forest I have ever seen, before getting to a cliff overlooking the rapids.
Other hikes throughout the region are the famous Inland Provincial Trail in Powell River, and the Suncoaster Trail which was home to the coast’s most famous artist, Joni Mitchell.
Time to explore. Happy Long Weekend!
What a place to live! I have recently moved to the Sunshine Coast and have enjoyed every minute of it. You are still so close to Vancouver – only a 40 minute ferry ride, or a 20 minute float plane ride – however, being on the Coast makes you feel like you are on constant vacation mode.
What made me want to move here?
Well first off, the Sunshine Coast has a great climate for most of the year and so many great amenities to offer. From an abundance of outdoor activities which include: boating, camping, fishing, hiking, biking, paddle boarding at the provincial parks, lakes and beaches, the beautiful scenery of the coast and island views are absolutely breathtaking wherever you are staying. There are also many locally sourced and produced farms, restaurants and coffee shops (which is a foodies paradise), as well as amazing spas (Painted Boat is my favourite!) – you feel much more relaxed and content on the Coast!
Vancouver has a very special place in my heart, but I was ready for a change and I thought that the Sunshine Coast would be a great place to live. I worked in the Vancouver real estate industry for seven years and saw many changes during that time. The media and real estate / economic professionals were always saying that Vancouver was in a “real estate bubble” and that prices would start going down. The matter of fact is that prices (relatively) continued to rise through out that time. We will have to see what the fall market brings due to the new Foreign Investment Tax in the areas it was implemented, however in my opinion, the Sunshine Coast is the place to live and invest in!
To move or not to move you might be asking yourself?
Firstly, you can actually buy a home for a reasonable price! Many people dream of living along the coastal waters with views of the Pacific (me being one of them!); but living on the Sunshine Coast makes that dream that much more attainable. The community offers so much more than downtown living, and it doesn’t matter if you are visiting for a weekend or if you have lived on the Sunshine Coast for years, there is always something new to discover. I know that buying a home anywhere, is a big step, but buying on the Sunshine Coast may be the best step you ever made.
Please feel free to reach out to me if you want to hear more ways of why living here is truly the DREAM!
Buying a home is both an exciting and scary venture. With the status of homeowner comes the costs of maintaining the property you are now tied to. If you are going to take on a lot of added responsibility it is your right to be selective when choosing a home. While your search may start out with enthusiasm, it can quickly grow tiresome as their are so many listings to browse.
Our question would be: why do all of the work when there is someone willing to help? The process goes a lot smoother with more that one set of eyes scouring the housing market for your perfect property. This is where our team truly shines, as we make it our duty to get our clients the keys to their ideal home! Simply tell us what you are looking for and we will go to work searching through our database of available homes. From there, we will give you a list that most accurately match your requirements. With a list that is narrowed down to a handful of properties, your decision will be much more manageable.
Whether you are a first time buyer, or it has just been a few years since you’ve last bought a home, the process of buying a home can seem like a bit of a mystery. I would be happy to sit down with you to walk you through the home buying process and the key milestones we will hit along the way.
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