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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

Shawn’s Best Deals of the Week (Dec 10-14)

Shawn’s Best Deals of the Week  (Dec 10-14)

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 will be exploring 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 West: 4454 W 13th Avenue

Price: $ 2,398,000
Lot: 33 x 122 (4,026 Sq Ft.)
House size:  2,356 Sq Ft.
Bedrooms: 5
Year Built: 1930
Zoning: RS-1

 

 

 

 

 

Why I Chose it:

The location is key. The price point is also great for Point Grey and the homes shows rentability. This is great while waiting for the development permits. This home is in modest shape and there appears to be little to no large trees on the lot. Although the 1930’s age may require a large portion of the home to be recycled, roughly 75%+. The RS-1 zones have recently been allowed duplexes, but given the neighbourhood elevations, a single family home with a lane way home would be best suited for the neighbourhood. In addition, the RS-1 zone allows for up to 70% FSR buildable. Please refer to the building guidelines as every house design may not qualify for the density bonus from the 60% shown on the zoning plan. The finished buildable maxed out at 70% is over 2,800 Sq Ft.

Vancouver East: 82 Ontario Place 

Price: $ 1,788,000
Lot: 33 x 121.93 (4,023.69 Sq Ft.)
House size:  2,356 Sq Ft.
Bedrooms: 6
Bathroom: 3
Year Built: 1969
Zoning: RS-1

 

 

 

 

 

Why I Chose it:

Why I chose it: The location is key. It is nestled between Main and Cambie which are direct routes to downtown Vancouver. It is a few blocks over from one of the largest developments in Vancouver, Oakridge. The price may be a bit high but the location is great!

East Burnaby: 7274 Stride Avenue

Price: $ 1,199,000
Lot: 53 x 120 (6,360 Sq Ft.)
House size:  2,425 Sq Ft.
Bedrooms: 4
Bathroom: 2
Year Built: 1949
Zoning: R5

 

 

 

 

 

 

Why I Chose it:

The location is key. This property sits a block away from the South Gate development, which is lead by Ledingham McAllister which will be 60 acres large and home to a new community. This home may be rezoned to higher density possibly two family infill housing. This will need to be verified with the city. The location is also a few blocks over from the Edmonds Skytrain station that is easy access to Vancouver and other parts of Metro Vancouver.

New Westminster: 2038 8th Avenue

Exterior FrontPrice: $ 1,249,000
Lot: 50 x 120 (6,000 Sq Ft.)
House size:  2,775 Sq Ft.
Bedrooms: 5
Bathroom: 3
Year Built: 1945
Zoning: Future NR2

 

 

 

Why I Chose it:

The location is key. This property Is two blocks away from the 22nd Street Skytrain Station and is in the New Westminster Official Community Plan for higher density. Higher density can be either infill (townhome) housing or low rise multi-family. The city would need to be consulted for verification. The home has also been tastefully renovated

New Westminster: 825 Dublin Street

Price: $ 1,249,000
Lot: 49.50 x 130 (6,435 Sq Ft.)
House size:  2,191 Sq Ft.
Bedrooms: 4
Bathroom: 2
Year Built: 1912
Zoning: NR1

 

 

 

Why I Chose it:

Why I chose it: The location is key. It is in the heart of New Westminster. Easy walking distance to New Westminster Secondary, Moody Park and some restaurants. It is also off of 8th Street which gives access to the #1 highway. It is also on the North side of Dublin which is then high side of the suite and with the additional square footage allowable in the basement for NR1 makes this is a great purchase for a building property. Be wary that there is one large tree in the back. Although the city has tree bylaws, there may be a chance to replace the current tree.

Meet Adam Senuik – First Year In Real Estate

Adams First Year In Real Estate

James Garbutt interviews team member Adam Senuik. Adam is in his first year of real estate and has made a wonderful addition to the G+D Team. Watch the video below to learn more about him!

4 Steps To Buying A House

4 Steps To Buying A House

Adam Senuik explains in these 4 steps how G+D helps you purchase a property, from beginning to end.

STEP 1: Meet with a Realtor and Mortgage Specialist
STEP 2: Start your search
STEP 3: Accepted Offer
STEP 4: Completion & Possession

Watch the video below! And subscribe to our youtube channel for more vlogs.

You can also find more information on Steps To Buying Your Home here.

G+D At Trees Of Joy – Children’s Wish

TREES OF JOY – CHILDREN’S WISH

The G+D Team attended Trees Of Joy that was put on by Children’s Wish Foundation of Canada earlier this week. We were so grateful to have the opportunity to make a special boys wish come true. Davin was diagnosed with hepatoblastoma at 10 months old. Hepatoblastoma is a very rare cancerous tumor that starts in the liver and typically affects children between birth and three years old. Davin received intense treatments, including chemotherapy and thankfully, he has been in remission for six years now! Davin’s wish was to take his family on vacation. This will be such a special moment for Davin and his family to celebrate his recovery and spend some much needed family time together.

James brought his two boys, Caden & Hunter and Jenn brought her daughter, Ava. The kids had fun running around, making ginger bread houses, meeting Santa and Mrs. Clause and decorating Davin’s Tree, which will be delivered to his home!

Thank you Children’s Wish Foundation for all you do and for such a rewarding experience.

FALL TIPS FOR HOME OWNERS

  • Shut down summer! Get the pool, BBQ and outdoor furniture ready for colder months. Properly clean, maintenance and store these items so you can safely enjoy them next year.
  • Remove and drain garden hoses from faucets, so when a freezing temperature hits the water won’t freeze, expand and crack your faucets or pipes.
  • Clean and repair your gutters and downspouts if needed before the water backs up and causes damage. We can expect a lot of rain in Vancouver and gutters and downspouts direct water away from the home.
  • Seal all your air leaks with exterior caulk to prevent moisture from getting inside your walls
  • Get your furnace checked by a heating and cooling pro before the heating season begins.
  • Inspect your roof for damaged shingles, leaks, masses of moss and lichen which could signal roofing that’s decayed underneath.
  • Late fall is the best time to prune your plants and trees. Also, remove all branches that could potentially break off and cause damage if there should be a wind storm.
  • Inspect your chimney. There should be no branches, birds nests or leaves inside your fireplace flue. If your spot any damage call a professional fireplace inspector.

Fall 2018 Market Update

THE MARKET HAS SLOWED

We’re in a correction, but it’s nothing like the 2008 crash.  This year we have seen a slow down in overall market activity as the volume of real estate sales is down compared to this time last year.  We had a good run, through 2016-2017 we saw a 40-50% increase in property values which is not sustainable growth.  Now, the market is becoming more balanced, less chaotic, which means that buyers are able to put subjects on their offers again. The days of bidding war after bidding war, and buyers taking on extreme risk of subject free offers seem to be over… for now.

WHAT ARE HOUSING PRICES DOING?

Well… it depends.  Every property type and city seem to be experiencing different levels of change.

LESS EFFECTED

We’re seeing about 5-10% reduction off peak pricing for your typical condos, townhouses and detached houses in the markets we work in. These are for your move-in ready, entry to mid level price points.

      

Least Effected:

  • Condos in Vancouver under $1M, and     suburb condos under $700K
  • Townhouses in Vancouver under $1.2M, and suburb townhouses under $900K (excluding Fraser Valley)
  • Houses under $1.6M

In terms of cities, less expensive suburbs close to Vancouver (New Westminster, Port Moody & Port Coquitlam) seem to be holding up particularly well.

MOST EFFECTED

  • Luxury homes
  • Land value
  • Fixer uppers
  • Busy streets or prominent negative feature

For some property types we’re seeing upward of a 20% adjustment from peak pricing.  In terms of cities, the more expensive ones; West Vancouver, North Vancouver, Burnaby, Richmond, Vancouver West. Due to significant increase in supply of $2M+ homes. In the hot 2016 and 2017 market, buyers were less picky, foreigners were propelling the luxury market and builders were hungry for land.  All of this has changed.

UNAFFECTED?

Pre-sales for new condo developments remain to be hot.  We’re still seeing peak pricing, lineups and quick sellouts in this sector.  In particular, we’re referring to more affordable price points, in desirable locations with easy access to public transit. Too much speculation? We’ll have to wait and see.

WHAT’S NEXT?

New mortgage stress test and higher interest rates!  Long story short, lending is getting tighter.  Buyers that qualified for a $500,000 mortgage in 2017, and now qualified for $400,000.  This paired with and increase in interest rates of more than 1% in the last 18 months could start showing it’s colours in late 2018 or early 2019.

Stress test info: https://www.ratehub.ca/blog/how-to-stress-test-your-mortgage/

OUR THOUGHTS & PREDICTIONS: 

JAMES: “It’s hard to predict a crash, and corrections happen often.  In fact, we’ve seen fall market corrections over the last 3 years.  This one is slightly worse than the previous years, which is due to an oversupply of expensive real estate.  Personally, I believe that we’re in the worst of themarket correction now.  The stats are out there, fear is out there and the media is publishing negative press… same as every correction in previous years. We just seem to forget.”

DENNY: “The Fall is likely going to have a surge in sales activity for a couple months, but I expect prices to remain flat.  Typically we see the activity pick up in the New Year, so I would not be surprised if the market goes on a small run early in 2019.  As for next spring, I think we’ll see an increase in prices of around 5-10%, due to the seasonality of the real estate market and buyer/seller behaviour.”

JAMES: “Buyers, keep looking and think long-term.  Ignore the media and buy with confidence if the right place comes up.  The inventory is higher than its been in the last couple years, demand is down and I think there will be some great opportunities out there this Fall. Plus, enjoy the luxury of a subject offer… it was rare for 

most of 2016 & 2017.”

DENNY: “Sellers, keep things in perspective. Timing the peak of any market is impossible to predict, but looking back to 2015, property values are still 25-50% higher today dependant on location. That’s a pretty solid return on investment in a very short period of time. If you are thinking of selling this Fall, be realistic about pricing. Over pricing a listing in this market can be detrimental to its success, and could result in a frustrating experience. Good product will sell, but expect a few more days on market than we’ve seen in previous years.  Now is not the time to launch that $3 Million dollar home. Wait till spring.”

 

We want you to have the “Perfect Day” on us! Win a Whistler hotel, dinner & spa package!

Whether we’re having a “Perfect Day” or not, we make sure our clients sure do!  We hope you enjoy our video showing the fun and chaos of our lives in real estate.

At Garbutt + Dumas….

Real estate is our passion. Customer service is our priority. Marketing is our strength.  Our goal is to improve your quality of life through real estate.  Call us today and see why, year after year, we’re ranked amongst the Top Realtors in Greater Vancouver.

 

We want to give you an opportunity to win the PERFECT GETAWAY in Whistler, BC  (VALUED AT $1,000!)


HOW TO ENTER

Like us on Facebook = 1 Entry

Follow us on Instagram = 1 Entry

Like our video on social media = 1 Entry

Share our video on social media and/or share this blog = 1 Entry

Tag a friend in the video comments on Facebook/Instagram = 1 Entry

Subscribe to our Youtube channel = 1 Entry

*Do it all = 6 (better the odds!)


CONTEST DETAILS

Your Perfect Getaway in Whistler, BC will include:

ACCOMMODATIONS: 2 Night Stay at the Fairmont Chateau Whistler ($400 value)

Enjoy a TWO NIGHT STAY at the Fairmont Chateau Whistler. These spacious Fairmont guest rooms feature a cozy sitting area and a fully equipped workstation. Along with High-Speed Internet Access and Wi-Fi. Fairmont guest rooms offer all the amenities needed for a relaxing resort getaway. Maximum occupancy is four people. All guest rooms are non-smoking.
Bed Type: One King or two Queen beds

*hotel must be redeemed by August 31st, 2018 or equivalent gift card of $400 will be given.

DINNER: OSO Bar ($200 Gift Card)

Bar Oso  – “oso” meaning “bear” in Spanish, an homage to Whistler’s wildlife – is open daily and offers a profusion of Spanish-influenced small plates, tapas, and house-made charcuterie. The long, convivial bar is the ultimate place to meet for hand-crafted cocktails and inspired wines.

 


SPA: Scandinave Spa Whistler ($375 Gift Card)

Scandinave Spa Whistler offers a traditional Scandinavian baths experience in a peaceful and natural environment. The spa’s rustic installations nestled on the edge of the Lost Lake Park spruce and cedar forest will both relax and invigorate you, and provide an escape from daily stress. The opportunities for relaxation are endless! Enjoy a couples massages, swedish massage, deep tissue and/or immerse yourself in one of their scandinavian baths!

 

 

CONTEST ENDS June 28th at 5:00 pm and we will announce the winner on June 29th!

Good luck to everyone!

6 Family Friendly Activities In New West

James’ kid’s having fun in New West!

 

New Westminster offers a wide variety of family friendly activities, from restaurants to outdoor parks and events! Keep the kids out of the house and entertained this weekend with these 6 ideas:

  1. Vancouver Circus School
    Bring your whole family to “Family Intro to Circus” at the Vancouver Circus School this Saturday and learn the basics of the circus!  Jenn’s daughter had a great time playing with the ribbon and learning some balancing tricks. Located at the River Market in the New Westminster Quay. See their website for more information.
  2. Soap making drop-in class 
    Take your kids to Jolene’s Handmade Soap this weekend to learn how to create their own soap! Your kids will love creating something they can bring home. *Bonus: They will probably be more inclined to wash their hands!
  3. Check out a family friendly restaurant
    New Westminster has some great family-friendly restaurants. Have you taken your family to the following?
    Mongo Bongo: Create your own bowl of noodles! You get to choose your own kind of meat, veggies & sauce. Your children will have fun building their own lunch bowls and love watching the chef cook it right before their eyes.
    Coming Home Café: This café is full of character and spunk that will keep your kids’ eyes entertained. Plus their breakfast food is amazing!
    Old Spaghetti Factory: This is a classic and you can’t go wrong with this family friendly restaurant.
  4. Get your kids involved in a local workshop
    Get their brains working while having fun with other children! These workshops focus on innovation, science, technology and more! Check out what New Westminster workshops are available this weekend here.
  5. Check out a movie at the Landmark Cinemas
    Everyone likes a trip to the movie theatre. It’s a great way to get everyone out of the house while getting to relax in those great big lounge chairs.
    Family friendly movies to check out: Peter Rabbit, Jumanji and Black Panther! Showtimes
  6. Walk along the Westminster Pier
    The Westminster Pier offers a variety of activities for the whole family like beach volleyball, children’s playgrounds, hammocks and more. When you need a re-charge, head toward the River Market, and choose from many great restaurants like Longtail Kitchen or Wild Rice!

 

James’ and his family out for a walk in the neighborhood

Pier West | A dynamic new waterfront development in New Westminster

Project: Pier West

Address: 600 & 700 block of Quayside Drive, New Westminster, BC

Builder: Bosa Development

Units: 665

Pier West will be the tallest waterfront residential property in the lower mainland, reaching heights of 43 and 53 stories.

Pier West by BOSA is a landmark development for New Westminster’s already thriving and dynamic waterfront community. The project includes two residential towers, one of which will be the tallest building on a Metro Vancouver waterfront (reaching heights of 43 and 53 stories).  These two modern towers feature 665 units, 1,000 public & residential parking stalls, and over 15,000sqft of new waterfront dining, shops and services. Pier West  will be located within a 6 acre park connecting the beautiful 12.5 acre Fraser River boardwalk.  This is the premier opportunity for waterfront living in one of the Lower Mainland’s most coveted locations.

Pier West will be located steps from historic Columbia Street, featuring restaurants, yoga studios, live music bars, and boutique shops. To the West, a quick 5 min walk will take you to River Market with groceries, cafes, restaurants, shops, and access to New Westminster Skytrain Station and Shops. Only a 30 minute commute to Downtown Vancouver and 20 minutes to Coquitlam or Langley, putting you right in the centre of Greater Vancouver.

If you have considered investing in real estate or are thinking about a move, this is a fantastic opportunity that you will not want to miss! Exclusive viewings are expected to begin in early February 2018. The West tower (660 Quayside Dr)  has an estimated completion of Early 2022.

Pricing & Deposit Structure: TBA

Contact us for more information about this highly anticipated development!

Northeast Views of the Fraser Valley and Tri-Cities Mountains


Modern design and comfort

This amazing location is walking distance to shops, restaurants, parks, schools, transit, and more!

 

7 exterior spring maintenance tips for your home

It may be hard to believe, but spring is just around the corner! (In fact, some might say it should have been here already!) And after such a rough winter, you can be sure there’s going to be some exterior spring maintenance for your home you’ll want to attend to as the temperatures warm up!

1. Roof: Inspect your roof. With all the snow and ice we had this year, you want to make sure your roof weathered the weather! If you’re uncomfortable with climbing a ladder, stand back and scan your roof with binoculars. Look for cracked or missing shingles, and a buildup of debris.

Cleaning the roof of debris is part of exterior spring maintenance.

Leaves and needles left on the roof can eventually damage the shingles.

 

2. Gutters: Check the gutters (Yes, this exterior spring maintenance tip will require climbing a ladder). Look for damage like cracks or gaps in seams. Clean out debris like leaves and pine needles. Run water from a hose to make sure there’s no leaks and the downspout is draining properly.

Some exterior spring maintenance will require climbing a ladder

Climb a ladder to check the gutters and clean them of leaves and other debris that may have accumulated through the stormy winter and fall.

 

3. Siding:  Clean the siding. That will prevent mould from taking hold. If the exterior of your home is wood, inspect it for weathering and peeling paint because those could invite rot. Touch up and repaint as needed. If your home is brick, look for cracks in the mortar where water may have penetrated and expanded and contracted as it froze and thawed. If you can slide a coin into a crack, it needs to be fixed. The same applies to your foundation.

4. Windows and doors: Inspect the seals and caulking around windows and doors. Scrape out any old, deteriorating caulk and then recaulk.

5. Decks, stairs and porches: Check them for damage or deterioration like loose planks or broken railings. Wood that is exposed to the elements should be treated and resealed every 4-6 years. If your deck or patio is stone or concrete, clean off the winter’s grime and check for debris and plant growth between the stones. Hosing it off will also give you a chance to check for settling that may allow water to pool or not drain properly.

Exterior spring maintenance includes cleaning the deck.

Inspect and clean the deck as part of your annual exterior spring maintenance.

 

Once the deck or patio is clean, bring out the patio furniture from storage and get it ready for the outdoor season. After all, those lazy sunny afternoons in the lounger are going to be your payoff for your exterior spring maintenance.

Check your driveway

6. Driveway. You know all those potholes in the streets that have been rattling your teeth? They’re caused by water penetrating the asphalt and expanding then contracting during freezes and thaws. We had no shortage of those this winter. So, as part of your exterior spring maintenance for your home, check your driveway for growing cracks and fissures. You’ll want to seal any cracks you find so they don’t get bigger and become a real problem.

7. The Yard. Rake the grass of fallen leaves and branches. Clean dead flowers and shrubs from the gardens. Trim back bushes and trees. Drain planters of any standing water, or they could become a breeding ground for mosquitoes. And don’t forget to check all those outdoor garden tools like the lawnmower, so they’re ready to go when the serious gardening season hits full stride.

Try not to think of exterior spring maintenance as a chore. As the weather warms up and dries up, it’s a nice way to get outside, commune with your home, maybe even trade winter survival stories with your neighbours. Enjoy!