Real estate agents debunk posts about Meng Wanzhou's Shaughnessy mansion - Vancouver Sun | Canada News Media
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Real estate agents debunk posts about Meng Wanzhou's Shaughnessy mansion – Vancouver Sun

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“People are making up all kinds of stories, but (the houses) are not for sale.” — Realtor Bob Cheng

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Posts advertising Meng Wanzhou’s Shaughnessy mansion for sale have been circulating on messaging app WeChat since the Huawei Technologies Co. executive was freed from house arrest and returned to China.

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And a former listing agent has been getting messages and calls, even some cash offers.

But both Vancouver realtor Julie Wei, who was the listing agent, and Bob Cheng, who was the buying agent, for the home in 2016 when it was purchased in the name of Meng’s husband, Liu Xiaozong, say the property is currently not for sale on MLS or off-market.

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Screenshot of one of various WeChat postings about Meng Wanzhou’s Shaughnessy mansion that has Vancouver real estate agents getting calls and messages about it being on the market for sale. Both the last listing and buying agent say it’s not for sale. Photo by WeChat /PNG

The house, where Meng stayed during her house arrest when she was fighting extradition to the U.S., has a current assessment of $13.7 million and is at 1603 Matthews Ave.

“They’re a lot of people who have too much time on their hands,” said Cheng.

He’s the buying agent who sold the couple their first home in Vancouver’s Dunbar area in 2006 for $2.7 million and also represented them in their $15 million purchase of the Shaughnessy home. He was also a guarantor who pledged part of the $7 million surety Meng needed as a bail condition of her being able to live under house arrest during the court case.

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“People are making up all kinds of stories, but (the houses) are not for sale,” said Cheng.

Wei first became aware of the posts a few days after Meng departed Vancouver for Shenzhen on Sept. 25. She has been getting dozens of messages asking for information.

One post that has been circulating includes a quip speculating that Meng will “forever never return again to Canada” next to a laughing-crying emoji.

“Some even offered cash, but some are also sending along very funny numbers, low offers,” said Wei. “I’m eager to get it out there that these posts are untrue.”

Neither agent had any comment about Meng’s future plans for the homes, except that they had no indication of any interest to sell them.

jlee-young@postmedia.com


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Greater Toronto home sales jump in October after Bank of Canada rate cuts: board

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TORONTO – The Toronto Regional Real Estate Board says home sales in October surged as buyers continued moving off the sidelines amid lower interest rates.

The board said 6,658 homes changed hands last month in the Greater Toronto Area, up 44.4 per cent compared with 4,611 in the same month last year. Sales were up 14 per cent from September on a seasonally adjusted basis.

The average selling price was up 1.1 per cent compared with a year earlier at $1,135,215. The composite benchmark price, meant to represent the typical home, was down 3.3 per cent year-over-year.

“While we are still early in the Bank of Canada’s rate cutting cycle, it definitely does appear that an increasing number of buyers moved off the sidelines and back into the marketplace in October,” said TRREB president Jennifer Pearce in a news release.

“The positive affordability picture brought about by lower borrowing costs and relatively flat home prices prompted this improvement in market activity.”

The Bank of Canada has slashed its key interest rate four times since June, including a half-percentage point cut on Oct. 23. The rate now stands at 3.75 per cent, down from the high of five per cent that deterred many would-be buyers from the housing market.

New listings last month totalled 15,328, up 4.3 per cent from a year earlier.

In the City of Toronto, there were 2,509 sales last month, a 37.6 per cent jump from October 2023. Throughout the rest of the GTA, home sales rose 48.9 per cent to 4,149.

The sales uptick is encouraging, said Cameron Forbes, general manager and broker for Re/Max Realtron Realty Inc., who added the figures for October were stronger than he anticipated.

“I thought they’d be up for sure, but not necessarily that much,” said Forbes.

“Obviously, the 50 basis points was certainly a great move in the right direction. I just thought it would take more to get things going.”

He said it shows confidence in the market is returning faster than expected, especially among existing homeowners looking for a new property.

“The average consumer who’s employed and may have been able to get some increases in their wages over the last little bit to make up some ground with inflation, I think they’re confident, so they’re looking in the market.

“The conditions are nice because you’ve got a little more time, you’ve got more choice, you’ve got fewer other buyers to compete against.”

All property types saw more sales in October compared with a year ago throughout the GTA.

Townhouses led the surge with 56.8 per cent more sales, followed by detached homes at 46.6 per cent and semi-detached homes at 44 per cent. There were 33.4 per cent more condos that changed hands year-over-year.

“Market conditions did tighten in October, but there is still a lot of inventory and therefore choice for homebuyers,” said TRREB chief market analyst Jason Mercer.

“This choice will keep home price growth moderate over the next few months. However, as inventory is absorbed and home construction continues to lag population growth, selling price growth will accelerate, likely as we move through the spring of 2025.”

This report by The Canadian Press was first published Nov. 6, 2024.

The Canadian Press. All rights reserved.

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Homelessness: Tiny home village to open next week in Halifax suburb

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HALIFAX – A village of tiny homes is set to open next month in a Halifax suburb, the latest project by the provincial government to address homelessness.

Located in Lower Sackville, N.S., the tiny home community will house up to 34 people when the first 26 units open Nov. 4.

Another 35 people are scheduled to move in when construction on another 29 units should be complete in December, under a partnership between the province, the Halifax Regional Municipality, United Way Halifax, The Shaw Group and Dexter Construction.

The province invested $9.4 million to build the village and will contribute $935,000 annually for operating costs.

Residents have been chosen from a list of people experiencing homelessness maintained by the Affordable Housing Association of Nova Scotia.

They will pay rent that is tied to their income for a unit that is fully furnished with a private bathroom, shower and a kitchen equipped with a cooktop, small fridge and microwave.

The Atlantic Community Shelters Society will also provide support to residents, ranging from counselling and mental health supports to employment and educational services.

This report by The Canadian Press was first published Oct. 24, 2024.

The Canadian Press. All rights reserved.

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Here are some facts about British Columbia’s housing market

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Housing affordability is a key issue in the provincial election campaign in British Columbia, particularly in major centres.

Here are some statistics about housing in B.C. from the Canada Mortgage and Housing Corporation’s 2024 Rental Market Report, issued in January, and the B.C. Real Estate Association’s August 2024 report.

Average residential home price in B.C.: $938,500

Average price in greater Vancouver (2024 year to date): $1,304,438

Average price in greater Victoria (2024 year to date): $979,103

Average price in the Okanagan (2024 year to date): $748,015

Average two-bedroom purpose-built rental in Vancouver: $2,181

Average two-bedroom purpose-built rental in Victoria: $1,839

Average two-bedroom purpose-built rental in Canada: $1,359

Rental vacancy rate in Vancouver: 0.9 per cent

How much more do new renters in Vancouver pay compared with renters who have occupied their home for at least a year: 27 per cent

This report by The Canadian Press was first published Oct. 17, 2024.

The Canadian Press. All rights reserved.

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