Old homes owned by Canada Pacfic Railway have been listed for $1. These homes are pre 20th century and were originally constructed for workers of CP Rail back in the day. These two heritages homes come with an interesting addendum, they must be renovated to maintain their original historic architecture.

 

Homes have been vacant since the 1980's and require a massive amount of work.

Approximate value of renovations per house: $100,000

 

So you could own an 1,100 heritage home in Boston Bar for approximately $100,101

These homes aren't expect to close with their new owners until Spring.

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The first month of 2014 saw home sale and listing totals outpace historical averages in the Greater Vancouver housing market.

Last month's sales were 7.2 per cent above the 10 year sales average for the month.

"The Greater Vancouver housing market has been in a balanced market for nearly a year. This has meant steady home sale and listing activity accompanied by stable home prices." Sandra Wyant, REBGV president said.

"If you're looking to sell your home in a balanced market, it's critical that your list price is reflective of current market conditions." Wyant said.

We have attached the January housing stats with a five trend stats package as well. As always please contact us with any questions.

 

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A new 61-unit condo development going up in Gastown called InGastown has launched a new innovative down payment program.

 

If you have an older car worth the minimum of your down payment the developer is willing to take it in trade. This new incentive is a unique way of looking at moving into the city and especially Gastown. Most individuals that live in the busy neck of downtown cannot own cars because there is no where to keep them. This program also adds to the Vancouerites willingness to go car-free!

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Year end statistics from 2013 show that Vancouver Rental Housing is among the lowest in Canada for the past decade.

“Another record year for new rental housing shows that Vancouver is on the right track in our support for renters, and that our rental incentive programs are delivering results,” said Mayor Gregor Robertson. “City Hall remains focused on enabling new rental housing to help people who can’t afford to buy in Vancouver, particularly seniors, students, and young families.”

Those year end stats showed that Vancouver City Council approved more than 1000 new rental suites in 2013 to be constructed in the following year. This is higher than the 2012 approval of 1021 units and zero units in past years. The city has launched a program later in the last decade to increase rental housing incentives, such as: reduced parking required, expedited permits and more.

It is unfortunate that we live in a city with living costs higher than most and yet rental suites are almost non-existent. If more rental suites are created it will either lower the demand for rental suites, averaging the price OR it will help increase the population of the lower mainland.

According to the CMHC the monthly cost of a rental purpose suites as opposed to condos that are rented is 37% cheaper.

“Making housing more affordable means residents and families can live closer to where they work, which reduces commuter congestion, helps attract world-class talent, and strengthens the economy and livability of our city,” added the Mayor. “There’s a lot more work to do, but we’re committed to building a Vancouver that is affordable for residents of all ages and backgrounds.”

This also goes hand in hand with laneway housing that is ever increasing for City Approvers. Laneway housing must be rental oriented and cannot be sold. To sell a portion of your land you must go through other means of splitting your property and a lot more money and paperwork. This type of housing is a great way of increasing density of the city without losing appeal or ruining the neighbourhood feelings. A lot of people feel that laneway homes are ruining their communities but they are no worse than tearing down a wartime 1200 sqft bungalow and replacing it with a 3 storey 4000 sqft mansion.

 

More than 52% of Vancouver are rental households.

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