maple ridge / pitt meadows nov 7, 2014 real estate weekly

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

What truly is a luxury property? In Vancouver,

a host of super high-end condos are arriving

on the market. So who is buying them, what

are they getting, and – the multimillion-dollar

question – at what cost?

“There is only so much demand, and there

are a limited number of sites where you

can develop a luxury project,” says Scott

Brown, president of Fifth Avenue Real Estate

Marketing. “Those limits drive up the price,

but our market is still relatively cheap com-

pared with London or Hong Kong.”

For Brown, to truly be a luxury development,

a home must meet certain criteria including

a location with a view, generous fl oor space

and glamorous interior fi nishing.

PortLiving CEO Tobi Reyes agrees that luxury

buyers want views, access to water and ame-

nities. “They’re looking for more interesting

design and architecture,” he said.

High End Booming

In mid-September 2014, there were nine

Vancouver luxury condos selling units priced

at over $850 per square foot. The almost-

sold-out Vancouver House has super-luxury

penthouses with record-high asking prices of

over $5,000 per square foot. Then there’s the

audacious Trump Vancouver, currently under

construction in downtown Vancouver with

pre-sales underway.

PortLiving has recently made its fi rst foray

into the luxury market with its new South

Creek Landing development at the foot of

Cambie Bridge. And other recent examples

of include boutique downtown development

Artemisia pictured, the curvilinear Jameson

House and the swanky Three Harbour Green

in Coal Harbour.

Of course, there are diff erent perspectives

about what you get for your cash. Frank

Schliewinsky, author of the Vancouver Condo

Report, says that buyers of the lower-fl oor

units of Vancouver House get “an excel-

lent view of the neighbouring shoehorn

housing and the traffi c, noise and

pollution from Granville Bridge.”

Identifying the Buyers

Despite reality checks like that, the desire

for unique luxury condos is undeniably high.

So who are the buyers fuelling this demand?

That’s a sensitive topic.

“Demand is being fuelled by conspicu-

ous consumption by Chinese buyers trying

to get money out of the China,” asserts

Schliewinsky.

Artemisia sales specialist Monique Davidson

has a diff erent take. Purchasers at this bou-

tique residence have mirrored the overall

luxury sales market. She says, “While pur-

chasers vary from building to building, about

a third are local buyers, another third are

investors collecting trophy residences, and

the fi nal third are international users who will

spend a couple months a year in Vancouver.”

At PortLiving’s South Creek

Landing, an overwhelming

number of the 15 homes have

sold to locals, with only two

or three purchased

by non-Canadian resi-

dents. PortLiving did

no overseas

advertising

and clients

found out

about the

site through

their own

networks.

But Reyes does concede, “That’s atypical

from what I’ve seen. Average sales to off shore

buyers in this market are likely closer to 40

per cent.”

Luxury Outside Vancouver

Given the limited amount of land in

Vancouver, luxury condos are starting to pop

up in other municipalities including Burnaby

and South Surrey. Fifth Avenue is currently

marketing Royce, which off ers breathtaking

views of Boundary Bay.

“Our buyers are wealthy down-

sizers,” says Scott Brown.

About the typical buyer, Brown adds, “No one

can say with certainty where they are coming

from. When you’re that affl uent, you probably

live in multiple cities.”

What does all this mean to more ordinary folks

who want to live in Vancouver? Schliewinsky

remarks that average buyers can forget about

fi nding aff ordable condos downtown unless

they can live in “shoebox” housing.

Adds Reyes, “These buyers are caught in a

cycle of competing for a great location with

end users who can aff ord much more than

they can. [But] I believe there’s a place

for everyone… not every space is going to

become a luxury development. The market

will dictate.”

The High Costs ofLuxuryLuxury CondosCondos

MAPLE RIDGE PITT MEADOWS


FRIDAY, NOVEMBER 7, [email protected] • 604-435-7977

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•2 REW.ca » MAPLE RIDGE / PITT MEADOWS » FRIDAY NOVEMBER 7, 2014

Brookside RealtyChad August

[email protected]

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REW.ca » MAPLE RIDGE / PITT MEADOWS » FRIDAY NOVEMBER 7, 2014 3•

JOHN BURNSOff. 604-533-3231 • Cell: 604-607-3504

email: [email protected]

PrudentialPowerplay Realty

11544-11550 207th $1,150,000

DEVELOPMENT PROPERTY TOWNHOME SITEFORECLOSURE. Excellent development opportunity in Westside area of Maple Ridge. 35,634 sq. ft. lot cur-rently at 3rd reading to allow 10 unit townhouse development. Prime location close to everything. BRING YOUR OFFER!!! John Burns

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Mrs. Smith604.123.4567

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Mr. Smith604.123.4567

[email protected]

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SOLDFOR 98% OF

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Homelife Glenayre Realty#1-32540 Logan Ave., Mission

#360-3033 Immel St., Abbotsford

“CLIENT COMMENTS”

We loved working with the Engh team.We mostly worked with Esmarie but Martin was always available when Esmarie couldn`t be. The benefits of a husband and wife team! Esmarie always answered our questions promptly and was easy to contact. They are both very pleasant to work with and personable. When we decided we were going to sell our house, we knew that it wasn't going to be an easy sale because of the location. Esmarie knew the market well and was realistic about the price in order to get our house noticed quickly and generate interest. We were prepared, but didn`t like the thought of, multiple showings over the next number of months because we have little kids. Within a week of listing with the Engh's we had about 4 showings and then we had a offer and sold! This was way better than expected considering there were other houses that had been listed a lot longer than ours on MLS. From our experience, the Engh's seem to treat all their clientele equally and worked hard for each one of them - we never felt less important than someone else.We would work with the Engh team again and most certainly would (and have) recommended friends and acquaintances to them when looking to sell their house. Thank you Esmarie and Martin

Sincerely, Peter and Kristine ChuChoose your Colours!

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$315,000

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$329,900

Acreage Home with Shop!Fabulous acreage home with shop right near town! This original owner home has been meticulously cared for, main floor enjoys 3 bedrooms, 2 bathrooms, living room, oversized dining room, big oak kitchen with built-in Brady Bunch breakfast nook! Lower floor boasts rec room with pool table, living room, bedroom, bathroom and laundry! Big sundeck, bountiful garden, single carport, 26 x 26 detached workshop all wired for the handyman, connected to city water, great opportunity to get off your city lot and buy your own acreage!

$499,900

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$629,900

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$189,900

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$749,900

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$659,900

$449,900

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WE HAVE HOT BUYERSFOR YOUR HOME!

WE HAVE BUYERS LOOKING FOR:

- Fixer upper under $230,000

- 2 family acreage home under $750,000

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$489,900

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Home with Suite!Superb rental or first time buyer home! 3 bedroom, 2 bathroom main floor with kitchen, dining room, living room and large sundeck! Basement benefits from a 2 bedroom unauthorized suite! Lane access to big double carport, walking distance to train, gym and all amenities, make your move today!

$279,900$419,900

Gorgeous Custom!Gorgeous custom built 2 storey home with stunning great room concept! Main floor boasts expansive open entertaining area with dark maple kitchen, granite countertops, high end stainless appliances, all open to dining room and living room featuring floor to ceiling slate stacked stone fireplace! 9' ceilings, rich hardwood flooring, wainscotting, crown mouldings, custom lighting, 4 bedrooms, den and family room! Fenced yard with playhouse, R.V. parking, double garage, all in great family neighbourhood!

NEW LISTING

On Top of the World!Lavish 3 level home with unsurpassed views of Mt. Baker, Fraser River, valley and beyond! 4,470 sq. ft. of exquisite finishing featuring gourmet kitchen with eating area and great room, all opening onto stun-ning view deck! Upstairs enjoys 4 bedrooms, all with walk-in closets and joining bathrooms, the luxurious Master boasts private patio with a view that will take your breath away! Basement enjoys 2 bedrooms, 2 rec rooms with roughed in plumbing for kitchens or wet bars, walk-out onto flat usable yard! Superb Upper College Heights Neighbourhood, unbeatable views, unbeatable value!

$589,900OPEN HOUSE! OPEN HOUSE!OPEN HOUSE!

McFall Terrace! Luxurious New Home! Luxury + View! Sunken Hot Tub! Triple Garage & Sweeping View!

$569,900

Picture Perfect!Lovely Cape Cod style home on 0.89 acre right in town! Main floor features Master Bedroom, laun-dry, dramatic vaulted living room, dining room, eating area and spacious oak kitchen with pantry! 4 bedrooms upstairs and bathroom with double sinks! Ultra quiet culdesac, large private backyard with firepit, playhouse, new patio and gazebo overlooking tranquil lawn and forest! Double garage and R.V. parking, connected city water and city sewer, superb location, unbeatable value!

SOLD!in less than 2 Weeks!

SOLD! SOLD! SOLD! SOLD! SOLD!

$3,599,000

4.99 Acre Development PropertyHere is your chance to take on an epic development project! 4.99 acres in the heart of Cedar Valley Phase 1 ! Designated MIXED-USE COMMERCIAL/RESIDENTIAL and URBAN RESIDENTIAL. This large property has 2 road frontages (Cedar & Tunbridge) and will shape the usage and flow of the Cedar Valley Neighbourhood for years to come. This is a rare chance for an experienced developer to aquire a large piece of land suitable for a sub-stantial project!

OPEN HOUSE!Sat. Nov 811:00-1:00

33768 Dewdney Trunk Rd.Mission

Dewdney Trunk Rd.

33768 *

StaveLake St.

CadeBarr St.

SOLD! SOLD!

MelburnDr.

★Stave

Lake St.

Best Ave.

33867

OPEN HOUSEDOUBLE HEADER!

Sat. Nov 8, 2-4 PM33838 Melburn Dr.33867 Melburn Dr.

33838★


FOR MORE INFORMATION: www.evergreensatensley.com • [email protected] Erickson Marketing Agent 1.604.819.8676

NEW SHOWHOME NOW OPEN - UNIT #3Tuesday, Wednesday, Thursday and Friday Noon - 4pmSaturday 11am - 3pm

45900 South Sumas Rd.(Vedder Rd. at South Sumas Road Chilliwack, B.C.)

★

#118 Ext.#118 Ext.#119 Ext.#119 Ext.Evans Rd

Vedder Rd

S Sumas Rd

HWY # 1

• 204 Ranchers in a Central Sardis location• 204 Ranchers in a Central Sardis location• Lease hold development• Lease hold development• Professionally Landscaped• Professionally Landscaped• Secure Gated Community• Secure Gated Community• Clubhouse• Clubhouse• 7 Unique Floor plans• 7 Unique Floor plans• Basement options available• Basement options available• RV storage• RV storage

Location • Location • LocationPHASE 3 NOW SELLING

Starting from $278,000

RE/MAX Nyda Realty1-7300 Vedder Road, Chilliwack, B.C.

SPECTACULARV I E W SV I E W S6565

SHOWHOME OPEN THURSDAY, FRIDAY and SATURDAY 1:00-3:00 pmSHOWHOME OPEN THURSDAY, FRIDAY and SATURDAY 1:00-3:00 pm

DISTINCTIVE LIFESTYLE HOMESlots priced from $157,000

homes priced from $439,900

• SUNRIDGE is a carefully designed exclusive community• 65 premier, ready-to-build lots• Generous lot sizes

• Captivating views of lush fairways, located on the banks of the championship Falls Golf Course Resort

• Building guidelines in place, protecting your investment

Whatever your lifestyle, a round of golf on a dramatic 18-hole golf course, meeting friends for lunch at the clubhouse, or simply enjoying the comforts of gracious living in your new home, Sunridge offers something for every lifestyle.

50778 Ledgestone Place, just off Annis RoadChilliwack, BC

1

An

nis Rd

Prairie Central Rd

An

nis Rd

Exit 1291

SCOTT HRUSIKph 604.793.7586

ROBERT LACERTEph 604.845.7355

CARLA DEVISONph 604.316.2295

[email protected]

BUILDER’S TERMS AVAILABLEBUILDER’S TERMS AVAILABLE


Showplace Realty 2014Showplace Realty 20149240 Young Rd., Chilliwack9240 Young Rd., Chilliwack

Dan Matheson604.791.3211

Showplace Realty 2014Showplace Realty 20149240 Young Rd., Chilliwack9240 Young Rd., Chilliwack

Peter Alexander604.997.0823

45 plus, Gated, Rancher Community Very near to Garrison Crossing and Vedder River Trail

Easy walking to everything you need.

Ask us about our TRADE IN programAsk us about our TRADE IN program

www.englewoodvillage.ca

Showhome open every day from 12:00-4:00pm

★EnglewoodVillage

starting at

$274,900$274,900

Homelife Glenayre RealtyHomelife Glenayre Realty

Final Phase Now Selling

Starting From $255,900

Register today!

www.MyronsMuse.com 604-380-1801

This is not an offering for sale. Prices subject to change and exclude taxes. E. & O.E. Sales & Marketing by Coldwell Banker Westburn Realty & Sutton Group West C oast Realty.

Open

Wed to Sun

1-6 PM

132 Ave

Fern Cres

37a

St23

232

St

236

St

MapleRidge Park

CedarPark

Lougheed Hwy

Dewdney Trunk Rd

Silver

ValleyValleyAn enclave of spacious townhomes in a strategically

planned community designed for open space and

functionality. Nestled in the natural beauty of Silver

Valley yet only minutes from local amenities, parks,

trails, greenbelts - it’s all here!

23651 – 132nd Avenue,

Maple Ridge, BC

COMPETITIVELY PRICED 2 & 3

BEDROOM COMMUNITY

TOWNHOMES

MAPLE RIDGE • PITT MEADOWS (INCLUDES MISSION LISTINGS)


Looking for a newhome? Start here.

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

F R I D A Y , N O V E M B E R 7 , 2 0 1 4

After years spent looking at homes all over the Lower

Mainland, Cindy and Francis Canosa fi nally found the

home that ticked off all of their wish list.

“We’ve been looking for a townhouse or a single

family home for three years and we just couldn’t fi nd

exactly what we both liked,” says Cindy Canosa, who

adds they are fi rst-time home buyers.

For the couple in their forties, a regular garage,

rather than a tandem one, was an absolute must. They

found that and much more at One44 in the sought-after

Panorama neighbourhood in Surrey.

“Because my husband and I work diff erent shifts, a

tandem garage just wouldn’t work for us,” she adds.

“We also loved One44’s open fl oor plan, the nice deck

and that it’s in a quiet neighbourhood.”

Meanwhile, it was also important to the couple to

have a large enough living and dining room for their

large extended family and frequent out-of-town guests.

“We are from the Philippines and we love to enter-

tain family and friends, many of which stay with us

frequently,” she adds. “So any house we bought had to

have four good size bedrooms, which it does … I also

love the number of bathrooms we have.”

The couple’s sentiments are echoed often, says

Sherry Scott, sales manager at Vesta Properties.

“Many of our buyers tell us the same thing,” adds

Scott. “They also tell us that they like the large foyers

which are rare in townhomes – typically you walk right

into a staircase and our homes not only off er an area for

you to drop your groceries and organize your shoes, but

also a full sized coat closet!”

Ray Dietz, senior marketing manager for One44 went

on to add: “Prospective buyers have plenty of options

to choose from including diff erent garage layouts, fl oor

plans with dual ground-fl oor entries perfect for a home

offi ce or guests needing extra privacy.”

Vesta Properties Ltd.’s One44 is a collection of 138

spacious contemporary residences, ranging from 1,350

to 1897 square feet. This quiet townhome master-

planned community is atop the crest of 144th street,

adjacent to an environmental reserve and anchored by

old growth trees. Many homes back onto green space

with bench lined trails dotted with picturesque pergo-

las and landscaped gardens – a true quiet oasis.

“Buyers love the fact that most of the homes back

onto a protected nature trail – we can really call each

home a parkside home,” says Scott, adding that more

than 50 per cent of the homes are sold.

One44 off ers a selection of two-bedroom +den (or

fl ex room), three bedroom+ fl ex, three-level homes dis-

tinguished by modern culture stone columns, rear bal-

conies and patios and private fenced front or backyard.

Each resident will have access to a private 4500

square foot amenity space, featuring a fi tness studio

with weights and equipment, meeting room and a

lounge with television, kitchenette and wrap around

deck for entertaining guests and community gatherings.

Award-winning Vesta Properties has nearly three

decades of experience in building quality residential

enclaves in both B.C. and Alberta. They have built

more than 3,500 homes, ranging from entry level town

homes to executive-style single family homes in over

40 award-winning neighbourhoods.

With prices starting at $295,500, the remaining

homes won’t last long. The One44 presentation

centre and showhome are located at #22 5888 144th

street, Surrey, are open Saturday to Wednesday from

1 to 5 p.m.

For more information, call 604.503.6402, email at

[email protected] or visit www.liveatone44.

com. Tentative occupancy: Some are move-in ready,

with a hand full being released in the New Year.

SPACE DOESN’T FALL SPACE DOESN’T FALL SHORT ATSHORT AT ONE44 ONE44

maple ridge / pitt meadows nov 7, 2014 real estate weekly

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