Vancouver real estate: Kitsilano property purchased for $138000 in 1986 sold in 2020 at $3.5 million – Straight.com

Published

4 years ago

November 24, 2020

Here’s an example of how real estate creates wealth.

On November 9 this year, a Vancouver property in Kitsilano sold for $3.5 million.

The transaction was tracked by real-estate site fisherly.com.

Realtor and market observer David Hutchinson shared the sales history of this property at 3472 West 12^th Avenue to illustrate what the market does.

Some people make money and, of course, some lose. Others break even, Hutchinson told the Georgia Straight.

The property was sold on December 22, 1986, for $138,000, based on information from the real-estate site Redfin.ca.

Years later, it again sold on April 20, 2012, for $1,510,000.

In 2013, a new house was built on the property.

The house features four bedrooms and six baths.

On June 2, 2014, the property sold again, this time for $2,475,000.

B.C. Assessment placed the 2020 value of 3472 West 12^th Avenue as of July 1, 2019, at 2,810,000.

After more than six years, the Kitsilano property was back on the market.

Sutton Group-West Coast Realty listed the property on October 28, 2020, for $3,688,888.

The realty agency described the “stunning Kitsilano family home” as one of “highest quality with lavish, elegant finishes”.

Plus, it has “nanny or in-law accommodation with roughed in laundry & separate entrance”.

It sold after 12 days on November 9 at $3.5 million.

“This one is a big money maker,” said Hutchinson, who watches the market closely.

According to Hutchinson, the market is “fickle”, and results are “unpredictable”.

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

Published

2 days ago

October 24, 2024

Anne Joseph

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.

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Real eState

Here are some facts about British Columbia’s housing market

Published

1 week ago

October 17, 2024

Anne Joseph

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.

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Real eState

B.C. voters face atmospheric river with heavy rain, high winds on election day

Published

1 week ago

October 17, 2024

Anne Joseph

VANCOUVER – Voters along the south coast of British Columbia who have not cast their ballots yet will have to contend with heavy rain and high winds from an incoming atmospheric river weather system on election day.

Environment Canada says the weather system will bring prolonged heavy rain to Metro Vancouver, the Sunshine Coast, Fraser Valley, Howe Sound, Whistler and Vancouver Island starting Friday.

The agency says strong winds with gusts up to 80 kilometres an hour will also develop on Saturday — the day thousands are expected to go to the polls across B.C. — in parts of Vancouver Island and Metro Vancouver.

Wednesday was the last day for advance voting, which started on Oct. 10.

More than 180,000 voters cast their votes Wednesday — the most ever on an advance voting day in B.C., beating the record set just days earlier on Oct. 10 of more than 170,000 votes.

Environment Canada says voters in the area of the atmospheric river can expect around 70 millimetres of precipitation generally and up to 100 millimetres along the coastal mountains, while parts of Vancouver Island could see as much as 200 millimetres of rainfall for the weekend.

An atmospheric river system in November 2021 created severe flooding and landslides that at one point severed most rail links between Vancouver’s port and the rest of Canada while inundating communities in the Fraser Valley and B.C. Interior.

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

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