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GARBUTT + DUMAS REAL ESTATE TEAM
630 Fifth St
New Westminster, BC, V3M 2X9
604.805.3115
info@gdrealestate.ca




James Garbutt

ST. PATRICK’S DAY CONTEST!

ST. PATRICK’S DAY CONTEST!

POT OF GOLD GRAND PRIZE VALUED AT $200, plus more prizes to be won!!
 
CONTEST DETAILS 👇🤞

1) Take a photo of your BEST ST. PATRICKS DAY DRINK and/or BEST ST. PATRICK’S DAY ATTIRE!

2) Tag us or DM us the photo on facebook or instagram or twitter 
👇🏻👇🏻👇🏻
 
1 Prize for BEST DRINK
1 Prize for BEST DRESSED
OVERALL BEST WINS THE POT OF GOLD!
 
The winners will be announced on Monday, March 18th! 
May the luck of the Irish be with ye!
 
🍀 Want to increase your luck? 

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Let the shenanigans begin…

 

AND THE WINNER’S ARE: 

 

GLOBE & MAIL ARTICLE – TOUGH BARGAINING SHAVES PRICE OF COQUITLAM TOWNHOUSE UNIT

Asking price: $598,000

Selling price: $525,000

Days on market: 91

Taxes: $2,116.70

Maintenance fee: $202

Buyer’s agent: Adam Senuik, Keller Williams Elite

The action

The unit is in a complex built in 1988, located near public transit. When the newlywed couple that purchased the unit walked through the door, they knew they wanted it, buyer’s agent Adam Senuik said. But their pre-approved mortgage was only $515,000. Mr. Senuik knew the condo had been on the market for two months at that time and had been reduced from $618,000. After three counter offers, the couple went back to the mortgage broker and came up with pre-approval of $525,000.

What they got

The 1,158 square-foot one-level townhouse has been fully renovated, with laminate floors, carpeted bedrooms and crown moulding, fireplace, quartz counters, heated bathroom floors and soaker tub. The complex was built in 1988 and is near transit and shops.

The agent’s take

Prices started dropping in the fall of 2018, Mr. Senuik says. “Vancouver’s property buyers are winning in a shifted market,” he says. “We have seen a lot of listings on the market much longer than the year previous.” In 2017, he’d see multiple offers drive the closing price above the asking price. It’s a different market today.

Shawn’s Deals of the Week (February 11 – 15)

Shawn’s Deals of the Week  (Feb 11 – 15)

Every week I will be posting 3-5 listings that I think are great investments for those who are looking to buy and hold, build, and move in. The neighbourhoods that I explore are:

  1. Vancouver West
  2. Vancouver East
  3. East burnaby
  4. South Burnaby
  5. North Burnaby
  6. New Westminster
  7. Surrey

Why are you doing this?

There are so many aspects to take in to account when finding the right investment property.  You want to look at location, price point, location of that exact property, the details of the home and any issues with the lot. Whether it’s sloped, at a high point on the block that allows for a view or whether it’s riddled with trees that make it near impossible to build on without going through a lengthy process with the city halls. I will try to narrow searches down for you to make the selection process easier.

Vancouver East – Fraserview East: 1891 E 56th Avenue

Price: $ 999,000
Lot Size: 6,108 (irregular)
House size:  1,739 Sq Ft.
Bedrooms: 5
Bathroom: 2
Year Built: 1950
Zoning: RS-1

 

 

 

 

 

Why I Chose it:

  • Great price
  • Great lot size
  • Fair location: close to all amenities, set back from Argyle by a boulevard
  • Living space includes a suite to help with the mortgage

Vancouver East – Killarney: 6549 Lancaster Street

Price: $ 1,280,000
Lot Size: 30.02 x 143.08 (4,295.26 Sq. Ft.)
House size:  1,892 Sq Ft.
Bedrooms: 4
Bathrooms: 2
Year Built: 1971
Zoning: RS-1

 

 

 

Why I Chose it:

  • Price has recently been reduced
  • Has a basement suite
  • Great neighbourhood
  • Quiet Street
  • Shopping nearby

Burnaby – East: 7844 15th Avenue 


Price:
$ 1,588,000
Lot:
50 x 120 (6,000 Sq. Ft.)
House size:  2,800 Sq Ft.
Bedrooms: 5
Bathroom: 5
Year Built: 2005
Zoning: R5

 

 

 

Why I Chose it:

  • Location – Close to elementary school, high way access and shopping
  • Turn key home
  • Has 2 suites (mortgage helper)

New Westminster – West End : 1215 Nanaimo Street

Shawns Deals of The Week
Price:
$ 988,00
Lot: 33 x 123 (4,059 Sq Ft.)
House size:  2,417 Sq Ft.
Bedrooms: 5
Bathroom: 2
Year Built: 1912
Zoning: RT-1A

 

 

 

Why I Chose it:

  • Zone RT-1A potential for a duplex
  • Good price point
  • Great renovations
  • Close to all amenities on 12th Street

New Westminster – Connaught Heights: 2211 Seventh Avenue  


Price:
$ 1,375,000
Lost Size: 49.90×120 (5,988 Sq. Ft.)
House size:  2,216 Sq Ft.
Bedrooms: 3
Bathroom: 1
Year Built: 1955
Zoning: NR-1

 

 

Why I Chose it:

  • Location, location, location – on the same block as 22nd Street Skytrain Station
  • Future potential
  • Home may need some work
  • Advice: This is a great property if you have the ability to invest at this price point.

Please contact us directly for your investment needs. We tailor our services to best suit your needs.

Shawn’s Deals of the Week (February 4 – 8)

Shawn’s Deals of the Week  (Feb 4 – 8)

Every week I will be posting 3-5 listings that I think are great investments for those who are looking to buy and hold, build, and move in. The neighbourhoods that I explore are:

  1. Vancouver West
  2. Vancouver East
  3. East burnaby
  4. South Burnaby
  5. North Burnaby
  6. New Westminster
  7. Surrey

Why are you doing this?

There are so many aspects to take in to account when finding the right investment property.  You want to look at location, price point, location of that exact property, the details of the home and any issues with the lot. Whether it’s sloped, at a high point on the block that allows for a view or whether it’s riddled with trees that make it near impossible to build on without going through a lengthy process with the city halls. I will try to narrow searches down for you to make the selection process easier.

New Westminster – Uptown: #23 230 Tenth Street

Shawns Deals of The Week

Price: $ 699,999
Maintenance Fees: $466.32
House size:  1,455 Sq Ft.
Bedrooms: 2
Bathroom: 3
Year Built: 2000
Zoning: RES

 

 

 

 

Why I Chose it:

  • Great price
  • Good location: close to all amenities
  • Large living space

New Westminster – The Heights: 919 Chestnut Street

Shawns Deals of The Week

Price: $ 1,139,900
Lot Size: 50 x 120 (6,000 Sq. Ft.)
House size:  2,468 Sq Ft.
Bedrooms: 4
Bathrooms: 2
Year Built: 1949
Zoning: RS-1

 

 

 

Why I Chose it:

  • Great potential for a basement suite
  • Great neighbourhood
  • Quiet Street
  • Shopping nearby
  • Quick access to the highway

Burnaby – East: 7760 18th Avenue 

Shawns Deals of The Week
Price:
$ 1,350,000
Lot: 50
 x 120 (6,000 Sq. Ft.)
House size:  1,962 Sq Ft.
Bedrooms: 3
Bathroom: 2
Year Built: 1938
Zoning: RS

 

 

 

 

 

 

Why I Chose it:

  • Location – Close to elementary school, high way access and shopping
  • Homes in this neighbourhood are newer
  • Area is set for redevelopment
  • Home needs work
  • Is currently rented for a good price

New Westminster – Queens Park: 321 Second Street

Shawns Deals of The Week
Price:
$ 1,278,888
Lot: 33 x 120 (3,960 Sq Ft.)
House size:  2,529 Sq Ft.
Bedrooms: 4
Bathroom: 2
Year Built: 1946
Zoning: RS-1

 

 

 

Why I Chose it:

  • Prime location
  • Good price point
  • Great renovations
  • Close to Herbert Spencer Elementary School

Vancouver West – Downtown: #1708 1189 Howe Street 

Shawns Deals of The Week
Price:
$ 769,000
Maintenance Fees: $425.44
House size:  791 Sq Ft.
Bedrooms: 2
Bathroom: 2
Year Built: 1999
Zoning: HIRISE

 

 

 

 

Why I Chose it:

  • Location – In the heart of Downtown Vancouver
  • Price point
  • Size

Please contact us directly for your investment needs. We tailor our services to best suit your needs.

TO BUY FIRST OR SELL FIRST? THAT IS THE QUESTION…

TO BUY FIRST OR SELL FIRST? THAT IS THE QUESTION…

Many of our clients find themselves in the dilemma of buying first or selling first, and there is no universal answer. We hope this article will give you some clarity on the questions to ask yourself when the time comes for your next purchase or sale.

Let’s assume the seller will not consider a ‘subject to sale’ offer… because if they will, go this route and don’t read any further. The negatives of a ‘subject to sale’ offer is that you could get bumped by another buyer, and in many cases a ‘subject to sale’ offer reduces your negotiating power as you’re not a ready to go ‘cash buyer’. Note that not all ‘subject to sale’ clauses written the same. The wording is crucial, and there are rare situations where you get bumped from a purchase (by another buyer) and end up selling your place anyway… call us to avoid this!

To Buy or Sell first? The main items to consider are your personal risk tolerance, finances, the subject properties involved, and the market.

Here are a few questions to ask yourself:

1) What is your risk tolerance? Will you sleep at night if you buy a property before having sold your own? If you buy first (and need to sell), you have to take whatever the market will bring. Plan conservatively. Make sure the purchase is feasible with a lower than expect sale price of your current property (maybe 5-10% below market).

2) How are your finances? Are you stretching yourself to make this purchase? or can you afford to carry two properties? If you’re stretching yourself on the purchase and you require top dollar for the sale of your personal property, it may make sense to sell first so you know exactly how much you can afford. We don’t want you to lose your deposit by committing to a purchase that the banks won’t finance (more likely for up-sizers or first time ‘House’ buyers). However, if you’re downsizing and are financial able to support the carrying costs of owning two properties, than buy when the perfect property is available.

3) What are you buying? Is it rare? If you find yourself looking for a property that’s on a certain block, or maybe a penthouse condo, or waterfront property that rarely comes available, you may not have a choice but to buy first or lose the property. If the property type you’re looking for is readily available (or maybe you’re just not picky) and it’s just a matter of time before the next one comes up… it may be best to sell first and put yourself in a strong negotiating position.

4) What are you selling? Is it very desirable, or is difficult to sell? If you have a very desirable property that would sell quick, it may make sense to purchase first. Alternatively, if you have a fixer upper, luxury home or busy street home (anything with a negative or very limited buyer pool), it may make sense to sell first.

5) How is the market? Is it hot or cold? In the hot market we experienced in 2016 everything sold fast, and as a result our clients were often buying first. In a hot market, sales are more predictable and risks of buying first is much lower. If the market is cold, like we’re experiencing now (2019), it’s typically best to sell first unless you’re prepared to own two properties.

Buying First: PROS
– You know where you’re going and when your Completion date is.
– Less likely to move twice. The challenge is to sell your place and match up the dates.
Buying First: CONS
– More financial risk, and potential loss of deposit (if you’re unable to sell current property).

Selling First: PROS
– Less financial risk.
– You know exactly how much you’re getting for your property, and will have a clear budget for your purchase.
Selling First: CONS
– You may not find a suitable place to buy right away. Be prepared to find temporary accommodation and move twice.

At the end of the day, every situation is different and needs to be evaluated on an individual basis. This is where we can help.’

Watch the video below and subscribe to our Youtube channel for more VLOGS!

 

Buying & Selling Tenanted Properties

HOW TO BUY & SELL TENANTED PROPERTIES

James Garbutt & Denny Dumas talk about how to buy and sell a tenanted property and the rules to follow. Watch the video below and subscribe to our Youtube channel for more VLOGS!

 

Shawn’s Deals of the Week (January 21 – 25)

Shawn’s Deals of the Week  (Jan 21 – 25)

Every week I will be posting 3-5 listings that I think are great investments for those who are looking to buy and hold, build, and move in. The neighbourhoods that I explore are:

  1. Vancouver West
  2. Vancouver East
  3. East burnaby
  4. South Burnaby
  5. North Burnaby
  6. New Westminster
  7. Surrey

Why are you doing this?

There are so many aspects to take in to account when finding the right investment property.  You want to look at location, price point, location of that exact property, the details of the home and any issues with the lot. Whether it’s sloped, at a high point on the block that allows for a view or whether it’s riddled with trees that make it near impossible to build on without going through a lengthy process with the city halls. I will try to narrow searches down for you to make the selection process easier.

New Westminster – Uptown: #1208 – 608 Belmont Street

Shawn's Deals of the Week

Price: $ 699,999
Strata fee: TBA
House size:  903 Sq Ft.
Bedrooms: 2
Bathrooms: 2
Year Built: 2013
Zoning: C-3

 

 

 

 

Why I Chose it:

 The price point is fantastic for a 2 bed and 2 bath unit at the Viceroy in Uptown New Westminster. Units in this building are not often for sale, lucky for you, this is one of the best priced 2 bed units in the building. This will be coming to the market soon! Rental are allowed, pets allowed with restrictions, 1 parking and 1 storage unit are included.

New Westminster – West End: 1422 London Street 

Shawn's Deals of the Week
Price:
$ 1,198,000
Lot:
46.20 x 132 (6,098 Sq. Ft.)
House size:  2,076 Sq Ft.
Bedrooms: 3
Bathroom: 2
Year Built: 1943
Zoning: NR1

 

 

 

Why I Chose it:

  • Quiet location
  • Quick access to main roads
  • Close to all amenities, the skytrain, Lord Tweedsmuir Elementary
  • Great price

Burnaby – East: 7814 13th Avenue

Shawn's Deals of the Week

Price: $ 1,149,800
Lot: 50 x 154 (7,700 Sq Ft.)
House size:  1,995 Sq Ft.
Bedrooms: 4
Bathroom: 2
Year Built: 1964
Zoning: R5

 

 

 

 

Why I Chose it:

  • Great price
  • Good location: close to all amenities
  • Large size lot

Vancouver West – Kitsilano: 3636 W 11th Avenue

Shawn's Deals of the Week
Price:
$ 2,288,000
Lot: 33 x 122.06 (4,027.98 Sq Ft.)
House size:  2,399 Sq Ft.
Bedrooms: 5
Bathroom: 3
Year Built: 1973
Zoning: RS-5

 

 

 

 

Why I Chose it:

  • Prime location
  • Good price point
  • Great building lot
  • Many high rated school like Lord Byng are nearby

Vancouver West – Dunbar: 3675 W 24th Avenue 

Shawn's Deals of the Week
Price:
$ 2,300,000
Lot: 33 x 122.1 (4,029.30 Sq Ft.)
House size:  2,287 Sq Ft.
Bedrooms: 4
Bathroom: 3
Year Built: 1993
Zoning: RS-5

 

 

 

 

Why I Chose it:

  • Quiet location
  • Access to major spots: UBC, Spanish Banks, Jericho Beach
  • Newer home for the price point
Please contact us directly for your investment needs. We tailor our services to best suit your needs.

Meet Monica Harmse!

Meet Monica!

James Garbutt interviews our newest team member Monica Harmse. We’re excited for you to get to know her, watch the video below! And learn more about her here.

 

 

 

 

Shawn’s Best Deals of the Week (January 14 – 18)

Shawn’s Best Deals of the Week  (Jan 14 – 18)

Every week I will be posting 3-5 listings that I think are great investments for those who are looking to buy and hold, build, and move in. The neighbourhoods that I explore are:

  1. Vancouver West
  2. Vancouver East
  3. East burnaby
  4. South Burnaby
  5. North Burnaby
  6. New Westminster
  7. Surrey

Why are you doing this?

There are so many aspects to take in to account when finding the right investment property.  You want to look at location, price point, location of that exact property, the details of the home and any issues with the lot. Whether it’s sloped, at a high point on the block that allows for a view or whether it’s riddled with trees that make it near impossible to build on without going through a lengthy process with the city halls. I will try to narrow searches down for you to make the selection process easier.

New Westminster – Uptown: #1208 – 608 Belmont Street

Price: $ 699,999
Strata fee: TBA
House size:  903 Sq Ft.
Bedrooms: 2
Bathrooms: 2
Year Built: 2013
Zoning: C-3

 

 

 

 

Why I Chose it:

 The price point is fantastic for a 2 bed and 2 bath unit at the Viceroy in Uptown New Westminster. Units in this building are not often for sale, lucky for you, this is one of the best priced 2 bed units in the building. This will be coming to the market soon! Rental are allowed, pets allowed with restrictions, 1 parking and 1 storage unit are included.

New Westminster – Fraserview – Victoria Hill: 209 – 275 Ross Drive 

Price: $ 475,000
Strata Fees:
$259.39
House size:  657 Sq Ft.
Bedrooms: 1
Bathroom: 1
Year Built: 2008
Zoning: RM-5A

 

 

 

 

 

Why I Chose it:

 The location and price are key. One of the best priced units in the complex. This 1 bed, 1 bath condo is in of the best neighbourhoods in New Westminster, the Grove at Victoria Hill! This is an inner unit with a neighbour on one side. This unit is low in strata fees and big on space. Come view it today!

New Westminster – Queen’s Park: 413 Oak Street

Price: $ 1,535,000
Lot: 60 x 115 (6,901 Sq Ft.)
House size:  1,995 Sq Ft.
Bedrooms: 4
Bathroom: 3
Year Built: 1989
Zoning: RS4 – link to city website for RS4 zoning

 

 

 

Why I Chose it:

Situated in one of the best neighbourhoods in New Westminster, Queen’s Park. This home is on a fairly private street and has a big lot. As it stands, the RS4 zoning is quite stringent on the building guidelines. However, one may be able to achieve a .7 FSR. This could allow for a home up to 4,830 Sq. Ft. For clarification on these guidelines please contact us directly and we will do our best to guide you or contact the planning department at the City of New Westminster.

Burnaby North – Government Road: 7994 Burnlake Drive

Price: $ 1,789,000
Lot: 73 x 140 (10,220 Sq Ft.)
House size:  3,425 Sq Ft.
Bedrooms: 4
Bathroom: 3
Year Built: 1967
Zoning: R1

 

 

 

 

Why I Chose it:

Government Road is one of the high end areas in North Burnaby. Right beside Highway 1 with Access to Downtown, Brentwood, SFU within minutes. This is a central location and hey, you’ll be close to Michael Bublé. Joking aside. The R1 zoning allows for a buildable up to .6 FSR or 6,350.9 Sq. Ft. Whichever is lesser. In this case that would be a home with a total of 6,132 Sq. Ft. Please contact the planning department at the City of Burnaby for verification.

Vancouver West – Cambie: 845 W 17th Avenue 

Price: $ 1,999,000
Lot: 33 x 122 (4,026 Sq Ft.)
House size:  2,182 Sq Ft.
Bedrooms: 5
Bathroom: 2
Year Built: 1944
Zoning: RS-7

 

 

 

Why I Chose it:

Close to Shaughnessy, downtown, the beach and all things Vancouver. This is a great building lot for an owner builder or someone looking for a holding property. Buy now, hold, build later. The City of Vancouver has become very strict with their building guidelines therefore it is best to read through the zoning bylaws before planning your dream home on this lot. As of right now, the standard FSR for RS-7 lots in Vancouver are .6 but can be allowable up to .7 FSR based on the design guidelines of the proposed dwelling.
Please contact us directly for your investment needs. We tailor our services to best suit your needs.