REW.ca » MAPLE RIDGE / PITT MEADOWS » FRIDAY JULY 10, 2015 1•

R E A L E S T A T E W E E K L Y

MAPLE RIDGE PITT MEADOWS FRIDAY, JULY 10, 2015info@rew.ca • 604-435-7977

Summer’s here, and it’s not just the mercury that’s rising throughout BC. After a long slump, the market for

recreational properties is heating up… rapidly. “This is the busiest start to a year that I’ve seen in a long, long time,” says recreational property guru Rudy Nielsen, president of Niho Land & Cattle Company and Landcor Data Corporation.

The recent annual recreational property reports by Royal LePage and Re/Max both shared the same message, citing increased interest from overseas and domestic buyers because of the low Canadian dollar.

The good news for buyers? Now’s the time to snag some good deals while properties are still attempting to rebound from previous lulls and interest rates remain low.

Market Rebounds“In an economic downturn, recreational

properties are always the fi rst to feel the pressure and the last to come back,” says Curt Jansen, vice president of sales and

marketing with Skaha Hills in Penticton. He adds that sales are now so strong, Skaha Hills’ initial phase sold out in just over two months – a far cry from the predicted two and a half years.

He notes the 2008 fi nancial meltdown lured many British Columbians to invest in desert locations like Scottsdale or Phoenix when the Canadian dollar was at par and American recreational property was readily available at 40 cents on the dollar. Now, as the loonie loses ground against the US greenback and bottom-line travel costs – especially airfare – skyrocket, many property owners see a new opportunity in Canadian markets.

“You’ll likely be able to sell your US property at a profi t, plus you’re making 20 per cent on the dollar when you convert to Canadian funds,” says James Askew, president of rareEarth Project Marketing. “Meaning you can purchase a property somewhere like Vancouver Island or parts of the Okanagan that are still undervalued

by 10 or 20 per cent, and often still keeping money in your pocket.”

One question mark is the Alberta buyer. Don Campbell, senior analyst at the Real Estate Investment Network and one of Canada’s leading real estate investment authors, believes the combination of falling oil prices and a new provincial government will keep some Albertans sitting on the fence for now. And Nielsen says they are still coming but acknowledges they are now less of a primary market driver.

Heat Indicators: The Decision to BuyAccess remains a key driver in the

decision to purchase recreational property, but proximity to services and amenities is gaining strength as a major consideration. “While there will always be people who want the pure solitude of being somewhere out in the bush, the majority of buyers still want the convenience of things like a grocery store, coff ee shop and somewhere to eat out,” says Campbell. “They also

want to be able to get there in three or four hours after work on Friday – even if they’re arriving at midnight, it’s OK.”

Nielsen agrees. He’s nicknamed it the “golden circle” – an informal but remarkably accurate price predictor based on proximity to the urban hubs where most recreational property buyers live. “For example, you’ll likely spend $600,000 to $700,000 for a lakefront property in Merritt – about a two-hour drive from Vancouver. If you’re willing to drive fi ve hours to Williams Lake, you can fi nd the same kind of property for half that amount. And in Prince George, a 12-hour drive from Vancouver, there are lots of lakefront deals to be had for around $100,000 – but you can’t spontaneously drive there for the weekend.”

Want to know where the best deals in BC recreational property can be found this year? Find the extended version of this story online at REW.ca/News/Market

Recreational Property Market Heats Up in BC

GO TOREW.CA /NEWS

TO READ THESE STORIESAND MUCH MORE REAL ESTATE

NEWS AND ADVICE

Vancouver Real Estate Market Sizzles in Hottest June on Record: REBGV

Is a Recreational Property a Risky or a Sound

Investment?

Ask the Expert: What Happens If I Don t Have My

Full Down Payment?

•2 REW.ca » MAPLE RIDGE / PITT MEADOWS » FRIDAY JULY 10, 2015

Brookside Realty 11933 224th St., Maple Ridge, BC

Amanda Vandenbrink604-619-2164

amandavandenbrink@shaw.ca

Bob Quinnell

604-803-2627

bobquinnell@royallepage.ca

• Very well kept 5 bedroom, 3 bathroom, gated rancher w/fi nished basement.

• Could be your private getaway or investment for the Future!• Triple detached garage on 4.83 acres. • Magnifi cent mature trees & manicured gardens adorn property.

• Gorgeous southerly exposure! • Designated as Urban Reserve on the OCP. • Very functional layout w/perfect family suite downstairs w/separate entrance.

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• 17.94 acres • 2500sqft 3 level split home w/ new roof• Many outbuildings • Very private• Double carport and garage • Panoramic views

$1,875,000 18782 Old Dewdney Trunk Road

12368 229th Street• Well loved family home on quiet cul-de-sac. • Spacious living/dining room,

excellent fl oor plan for entertaining.• Kitchen has bright open space w/spectacular mountain

views & leads to very large deck.• Large master bedroom w/large walk in closet.• Downstairs could be perfect in-law suite

w/ 2 dens, 1 bedroom & large fam room.• Beautifully landscaped yard, patio & hot tub. • Close to schools, parks,

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$529,000

417 19673 Meadow Gardens Way• Shows like new • Balcony and private roof top patio• 2 beds / 1 bath• Very spacious

$262,500

Jim Isherwood604-250-7755

jimisherwood@royallepage.ca

Nicole Jackson604-467-5000

11933-224 Street, Maple Ridge • 604-467-5000

$237,900, No GST

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• Perched above the mighty Fraser River• Spectacular waterfront and mountain views• 2 bedrooms - large patio/yard area• Quartz countertops and stainless steel appliances• Walk to West Coast Express

$599,800• Very private 3 bed rancher on 2 acres• Bright kitchen, sep. dining & living room has double sided fi replace• Approx. 1 acre is fenced & landscaped w/2 road frontages on Garibaldi• 2 garden sheds & small barn w/fenced poultry area• Covered deck overlooks Kanaka Creek• 5' crawl space. Dbl garage

165Warrick Street

Coquitlam

$988,000• Beautiful home with stunning view of the Fraser Valley• Entertain with style in large & bright chef's kitchen w/granite

counters, stainless appliances & 2 islands• The great room & kitchen area have vaulted ceilings & LED lighting• The large master bedroom has spa like bath w/jetted soaker tub• Separate legal 2 bedroom suite• Many upgrades• Stunning city views from 2 balconies. Shows like new!

$604,900• Larch Avenue Heights in Rock Ridge• This 2 storey plus basement home has 4 bedrooms,

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13309235A Street

Maple Ridge

$1,248,000• First time on the market!• Amazing Penthouse features million dollar views• Ultimate entertainer's dream• Lge kitchen equipped w/only the best of the best• Spacious bedrooms w/luxury ensuites, marble counters,

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#1006-12079Harris Road

Pitt Meadows

12580Garibaldi St.

Maple Ridge

1211Seventh Ave

New Westminster

$799,000• Lovely heritage style home built 1910• Fenced yard & covered front porch• Original beautiful fi r wood fl ooring• Beautifully renovated with all the modern conveniences• Chef's kitchen has custom dark cherry soft-close cabinets,

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23747 105th Ave, Maple Ridge • $615,500

Spacious Rancher* Wheelchair friendly rancher with full basement* 3,566 square feet on two full levels, 5 bedrooms* Extensively updated inside and out, move in ready* New appliances, centre island open to family room* Lg master, ensuite soaker tub plus separate shower* No stairs involved on the main floor* Two bedroom suite down fully self contained* Separate laundry & storage, full kitchen* Could be three bedroom suite if required * 6,297 square foot corner lot across from greenbelt* Immaculate and ready for immediate occupancy

Brookside RealtyChad August

chadaugust@shaw.ca

604.318.5254604.318.5254WWW.CHADAUGUST.COMWWW.CHADAUGUST.COM

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2 LUXURIOUS CONDOSFrom $1,248,000 Spacious Plans - Top Floor

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REW.ca » MAPLE RIDGE / PITT MEADOWS » FRIDAY JULY 10, 2015 3•

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CLOVER CREEK ESTATES!Beautiful 1620 sq ft 2 bedroom, 2 bath rancher, nestled in desirable Clover Creek Estates. This spacious home features an eat in kitchen, den, living room w/gas fi replace & a huge king size master suite. Covered patio for 4 season BBQ’s, double garage, upgraded carpets and central AC for your comfort. Prepaid lease with a monthly maintenance fee of $97.00 per month which includes water, sewer, garbage and snow removal. Secure Adult 45+ Gated Community with an active Club House. MLS# H2152581

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DOWNSIZERS • RECREATIONAL BUYERS

•4 REW.ca » MAPLE RIDGE / PITT MEADOWS » FRIDAY JULY 10, 2015MAPLE RIDGE • PITT MEADOWS (INCLUDES MISSION LISTINGS)

R E A L E S T A T E W E E K L Y

Looking for a newhome? Start here.

F R I D A Y , J U L Y 1 0 , 2 0 1 5

I n P r i n t > O n l i n e > I t ’ s A l l H e r e

Bosa Development has been given the go-ahead to redevelop a portion of the Lynn Valley mall, demolition estimated for late summer or early fall 2015.

District of North Vancouver coun-cil voted unanimously June 15 to issue the development permit for Lynn Valley Centre, which will eventually include a 50,000 square-foot commercial podium and 360 approx. residential units in six buildings between four and 12 storeys in height.

In exchange, the district is receiving $4.5 million worth of community ameni-ties in cash, aff ordable housing, public art and a widening of Lynn Valley Road at Highway 1.

Under the timeframe presented to

council, the eastern side of project along Mountain Highway will be the fi rst to go under construction with 116 of the units being built between the winter of 2016 and the spring of 2018. The rest, includ-ing 244 units and the commercial space where the old Zellers store once sat is slated to begin construction in the fall of 2016 and continue until the summer of 2018.

The remainder of the mall will be reno-vated sometime after.

Bosa has tweaked the project some-what since winning its bid for rezoning in June 2014. The project will now have 39 fewer units and one of the towers will be one storey shorter.

Granting the development permit was a long time coming for members of council who refl ected on the years spent develop-

ing the offi cial community plan, the Lynn Valley town centre plan and the design guidelines for the development. The pro-cess was rocky at times but ultimately, made for good compromise in the fi nal design, council members noted.

“I will say that I’m very pleased that we’ve fi nally arrived at a development permit for this project,” said Coun. Roger Bassam. “It just seemed to go on and on and on but ultimately, this is what the reward is. We’re going to have a new heart in the Lynn Valley town centre. I’m very excited to see this begin. I’ll be even more excited when it’s done.”

The project is intended to revitalize Lynn Valley.

“Most people under 40 support it. A few of us older people support it as well,” said Councillor Robin Hicks, also a Lynn Valley resident.

“It had a fairly volatile process but I think the end result is going to please everybody, even the doubters in the end.”

After praising the design, Councillor Lisa Muri said the project will be a test of the district’s construction mitigation plans.

The Residences at Lynn Valleywww.lynnvalleyresidences.com

North Vancouver’s Lynn Valley Towers to Go Ahead

By Brent Richter

Bosa Development gets green light to demolish the old library site, a parking structure and the old Zellers building and redevelop Lynn Valley mall area for approx. 360 residential units plus a new commercial podium