Welcome to this months 'Metro Vancouver Housing Report' for February.

The average price for a home in Metro Vancouver was $1,220,469, which declined by 98.2% annually but increase by 4.9% since last month.

The benchmark price in Metro Vancouver stands at $1,123,400, which is a 1.1% monthly increase but a 9.2% annual decrease. This benchmark price is a 21% increase over the past 3 years, but 11% lower than the all time high of $1,264,700 in April of last year.

To break it down into catagories: A detached home benchmark price decreased by 12.0% year over year to $1.81M. A townhome benchmark price decreased by 6.3% year over year to $1.04M and a condo benchmark price decreased by 3.0% year over year to $732K.

The average sale price in February for a detached house was $2,054,975 which is a 7.5% increase over January, but a 10.2% decrease over the past 12 months. The average sale price for a townhouse in February was $1,176,822 which is a 4.3% decrease over January and a 9.0% decrease over the past 12 months.

The number of transactions in February, which is really interesting, considering January had the lowest number since 2008 is: 514 detached houses, up 74% from last month, but a 49% decrease over the past 12 months and 366 townhouses, which is a 135% increase since January, but still a 35% decrease over the past 12 months.

Let me know your thoughts and insight if you have a free moment.

Until next time.

Believe or not, but compounds have been found that could stop coronavirus and flu viruses from infecting human cells.

An international research team has unearthed 26 such compounds found in nature and they claim this discovery paves the way for new 'natural' medicines and antivirals that can help treat these contagious viruses.

They are currently effective in very small doses in the lab, where the compounds have completely stopped viral infections in human cells. 

The team from the University of British Columbia has investigated more than 350 compounds derived from natural sources including plants, fungi, and marine sponges.

All 3 of the most effective compounds were found in Canada: alotaketal C, from a sea sponge in Howe Sound, BC; bafilomycin D from a marine bacteria in Barkley Sound, BC; and holyrine A from marine bacteria collected in the waters off Newfoundland.

The team now want to test the compounds in animal models in the next six months.

Here are just a a few of the ultra-EV's ranging from historic conversions to cutting edge hypercars to simply nice driving cars that don't actually break the bank. Not in any particular order:

The Porche Taycan: Porche has hit the electric market with the sort of impact you would expect. The Taycan is a 4 door fast touring car that is slightly smaller than the existing  Panamera model. You might say that Porche has infused its first electric car with all the hallmarks of it best mid-engined cars. The top ranking model is the Turbo S which musters 751bhp and costs just under $217,000 cdn. It is surely one of the quickest real-world cars on the planet at 0-60 mph in 2.6 seconds.

Audi RS E-tron GT:  The first electric car to wear Audi's RS initials. Basically the Porche Taycan in a different suit. It uses the same powerful electric motors - one per axle - and the same 3 chamber air suspension and the underlying architecture is shared.  The battery pack is also carried over, meaning a WLTP range of 283 miles with the potential for 350kW ultra-rapid charging.

Lotus Evija: This is the pretty much the british brand's version of the all-new Porche Cayman-chasing sports car. This car is expected to be officially launched this summer for just over $3,000,000 cdn. The car's 4 motors together deliver more than 2000bhp. That will act against 1680kg, which is relatively light in EV terms, and so performance will feel like freefall. 

Rimac C_Two:  Porche took a 10% stake in the new Croation business in 2018 and increased that to 16% in 2019 Then in 2021, Rimac aquired Bugatti. The C-Two is the followup to the Concept One, which in 2017 was arguably the first machine to kick-start the electric hypercar trend, with its 1073bhp output, 220 mph top speed for just over $1,000,000 cdn. Just 150 will be made - of almost all of which are spoken for - and deliveries are planned for this year. 

Pininfarina Battista: Similar to the relationship between the Porche Taycan and the Audi RS E-tron GT, the Pininfarina Battista shares much of its hardware (and software) with the Rimac C-Two, but will be the more outwardly luxurious and GT-oriented machine of the pair. It has 1900bhp, 1696lb ft 0-186 mph in less than 12 seconds, 217 mph all out and an asking price of approximately $3,100,000 cdn.

BMW i4: While BMW is no stranger to  electrified sports cars, the i4 is the firm's first stab at a proper high performance all-electric machine.  The M50 features a twin motor set-up that packs a hefty 536bhp punch for a M4-baiting 0-62 mph in 3.9 second, and a charging range of 367 miles.

Kia EV6 GT: Were you expecting to find a Kia on this list? The raw stats show that it's twin motor set-up packs 577bhp and 546 lbs ft, which makes it good for a 0-62 mph in 3.5 seconds and a top speed of 161 mph. It can travel a claimed 263 miles on a charge, while it's 800 architecture means ultra rapid charging. 

A small town in Finland is using sand  to store heat from renewable energies to provide home heating during the winter.

While water heating can only store 100 degree C of heat, sand can reach 500 degrees C or nearly 1000 degrees Fahrenheit.

Tens of thousands of cubic meters of sand are heated from the generation of electricity with solar panels or wind turbines, then packed tightly in insulated silos. Now the sand can retain heat for months without losing it. For Finns living through long winters, this is a huge load of their power grid.

This techology can also use the heat to generate electricity as well as home heating, which is called Polar Night Energy, and is the first commercial sand-based heat storage facility in operation.

Now in July, this facility is primed for it first commercial winter in Vatajankoski's district heating network in Kankaanpaa, Finland. The storage has 100 kilowatts heating power and 8 megawatt hours capicity.

This new technology has several attractive elements, such as an investment cost of less than 100 euro per kilowatt hour of capacity, little to no emmissions or hazardous materials, and minimal automated running costs.

This technology has not come a moment too soon, as Finland's Government's recent decision to join NATO has seen them lose all access to Russian natural gas, the standard home heating energy source.

The new Google headquarters in California is achieving its goal of working with green energy 90% of the time by powering its building with solar panels inspired by 'dragon skin'.

The 2 sun drenched office buildings take up 1.1 million square feet covered by 90,000 silver solar panels. The result is a set of builidings that show what's possible in human-centered and sustainable workplaces.

The prismatic nature of the glass traps the light that would normally escape from traditional flat solar panels and reduces reflective glare that can be a problem for drivers and pilots.

To help deliver on its commitment to  replenish 120% of the water it consumes by 2030, the site is net water-positive with all non-potable water demands being met using the recycled water it generates on site.

A series of above ground ponds gather rainwater, combined with a building wastewater treatment system, together to serve as a water source for cooling towers, flushing toilets and landscape irrigation.

A massive group of 12,000 solar panels are set to become Europe's largest floating solar park when they finish taking position on top of the Alqueva reservoir this year.

Supplying a third of the  eletricity to the nearby towns of Moura and Portel - they look to continue taking advantage of Portugal's nice year-round weather that has seen the nation become one fo the leading renewable-powered nations in Europe.

The advantage of floating solar is that it doesn't take up limited land space in the small country. Unused electricity that can't be used pumps water into the reservoir, which can be fed through the hydropower system of the dam to create additional power.

By 2030 Portugals principal utility provider (EDP) hopes to offer 100% renewable electricity across all infrastructre, while currently producing 78% of its power from solar, wind, and hydropower.

Meet these two pint-sized preschoolers who wanted to trick their teacher. They are in the same class. They both love to play, and they both have a lot of energy.

Are they indentical? They sure think so.

So when Jax's mom Lydia told her son that he needed a haircut, he had a fun idea. He'd shave his hair short to look like his friend, Reddy.

Jax said he couldn't wait to go to school on Monday with his hair like Reddy's so that his teacher wouldn't be able to tell them apart. 

Just one thing: Jax is white; Reddy is black.  Turns out, that didn't matter.

When the buddies, ages 4 and 5, showed up to class on Monday with matching haircuts, their teacher played along, pretending to confuse the two. Soon other classmates were swapping places with each other.

Lydia decided to creat a post of her son and his best friend and it has been shared 79,000 times.

"It's total insanity" explained Lydia, "I just made the post because my kid is hilarious and cute. I never anticipated this. It just struck me as funny that Jax doesn't even notice that Reddy is a different colour. When he describes Reddy, he never mentions it. I thought with at the hate in the world today, we should use this lesson from an almost 5-year old.

Reddy, and his older brother, Enock, were adopted from Africa when they were 2 and 4 years old by Kevin and Debbie Weldon, who are white. They say family isn't limited by race and nationality.

As for the boys, neither seems to think he's made a statement about overcoming racial differences. They're just a couple of friends.

At Keith Vines and Associates, we offer good old fashion service, working with our home buyers and sellers in a relaxed, friendly manner, applying every available tool available to achieve the best possible outcome. If you are curious as to what homes are selling for in your neighbourhood or complex, sign up for Neighbourhood Update – and get the facts.

Meet the man with Britain's lowest fuel bill as he drives the world's smallest car, which costs just $9 (Cnd) to fill up.

Alex Orchin, the 5ft 11ins car enthusiast can be seen driving around in his tiny 53 inch long, 39 inch wide and 39 inch high car with a 5 litre gas tank. 

Alex, and eccentric 31 year old avid motoring collector loves driving around in his tiny three-wheeler.

Last year he drove the length of the UK in the car, which has a top speed of just 23mph.

Alex got fixated on this idea of having a P50 just because it was so tiny, but when he saw an original price tag of $131,000, the idea was killed.

Then about 4 years ago he bought one of the newer ones from the Isle of Man as the second owner. He says the car always get attention - it is quite staggering because to Alex, it's just a tiny car.

It much smaller than it appears. You can fit a shopping bag down the left of the car by the handbrake, but nothing else. 

The vehicle was built in 2017, but it based on the original design from the first production models in the 1960's, and in 2010 the model was named the smallest production car ever built in the book of Guinness World Records.

Alex said, "I 've owned a lot of cars and none of them get as much attention as this one. Normally if I pull up in a Morris Minor, it is car  people and enthusiasts that want to come and talk to me. But my Peel P50 attracts absolutely everyone, including people who  aren't interested in cars. They think it's hilarious and children love it! Especially under-ten-year-olds.

At Keith Vines and Associates, we offer good old fashion service, working with our home buyers and sellers in a relaxed, friendly manner, applying every available tool available to achieve the best possible outcome. Please take a moment to sign up for Keith’s Grapevine – a periodic eletter full of interesting market news, advice and tidbits

Parents in Poland have left their baby strollers and blankets at railroad stations for the Ukrainian mothers fleeing the war with their babies and newborns.

This is what it's all about. Simply amazing!

At Keith Vines and Associates, we offer good old fashion service, working with our home buyers and sellers in a relaxed, friendly manner, applying every available tool available to achieve the best possible outcome. We also love referrals and will gladly pay for them. If you would entrust us with your friends/family, kindly send them our way. Refer, and You Shall Receive

The Bank of Canada raised interest rates last week as expected, including the overnight rate, which is now 0.5%, double the rate seen during public health measures, but still considered a very low rate. Back in 2017 0.5% was considered rock bottom.

Borrowers will feel the impact of the higher overnight rate immdediately, especially those with variable-rate mortgages, or buyers applying today. For every 25 basis point increase to the overnight rate adds roughly 15 basis points to variable-rate mortgage interest.  More clearly, a 15 basis point increase on a mortgage works out to about $7 per $100,000 in mortgage debt. For a typical home in January with 10% down, buyers will pay about $55 more per month. Not exactly earth-shattering, and unlikely to cause defaults. Recently variable-rate mortgages became the majority of borrowing.

One rate hike isn't likely to have a big impact on the market, but we may see many rate hikes coming. The forcast is that the overnight rate will rise to at least 1.50% over the next year.

This might seem like a lot, but it's probably just a path to normalization. Most of us don't remember that dropping from 1.75% to 0.25% was the equivalent of 6 rate cuts in 2020.

Forcasts are not perfect, but this is the pace to curb elevated inflation.

These higher rate may lead to slower home sales and/or growth as buying power adjusts. Fixed rates have been rising for the past year, but failed to slow the market down much. This is largely due to variable rates not following, like they typically do. 

We have been expecting this first rate hike for a year now, since it talkes 18 to 24 months to be fully realized.

Some people argue that higher interest rates will erode affordability, but research from the Bank of Canada shows the lower rates were actually responsible for the decline in affordability. 

At Keith Vines and Associates, we offer good old fashion service, working with our home buyers and sellers in a relaxed, friendly manner, applying every available tool available to achieve the best possible outcome. If you are curious as to what homes are selling for in your neighbourhood or complex, sign up for Neighbourhood Update – and get the facts.

Can you imagine a city that grows most of its food on its very own rooftops, where tomotoes ripen on the vine year round - even in the dead of  winter.  That's the idea behind Lufa Farms, which operates 4 rooftop greenhouses in and around Montreal and delivers more than 25,000 fresh picked vegetabe baskets to its customers every week.

Founded in 2009 by Mohamed Hage and Lauren Rathmell, Lufa sprouted from the idea that urban farming could grow crops where people live, without using any new land, and deliver food without the carbon footprint of long distance transportation. 

'When you buy a tomatoe in the winter, you're probably getting one that's been trucked in from California or Mexico,' says Lauren. 'We deliver ours right to you the day after they are picked.'

Hydroponic technology helps Lufa's greenhouses operate sustainably, recylcing about 90% of the water used by the plants. In lieu of pesticides, ladybugs and parasitic wasps devour aphids and other pests. Using residual heat from the building below, each farm requires half the energy of greenhouses on the ground. Meanwhile, the company's programmers keep operations nimble with greenhouse automation. Software manages delivery logistics while allowing customers to tailor their own baskets, choosing from 50 varieties of fruits and vegetables, plus other items, lke bread and cheese from local producers.

Lofa Farms in one of many similar urban-farming projects around the world, with commercial greeenhouses and gardens springing up in places like London, Paris and New York. It is predicted that city-grown crops could eventually make up 10% of the global food supply. 

At Keith Vines and Associates, we offer good old fashion service, working with our home buyers and sellers in a relaxed, friendly manner, applying every available tool available to achieve the best possible outcome. Please take a moment to sign up for Keith’s Grapevine – a periodic eletter full of interesting market news, advice and tidbits

There are a number of strata units in Vancouver that could easily suit the needs of those who cannot afford bigger homes at this time, especially first time buyers.

In the West End, living in smaller units is somewhat easy because of the convenience of the location. For example there is currently at 416 square foot, fully furnished studio, just steps from Stanley Park, restaurants and shopping with an asking price of $619,800.

Homes such as this fit the need for many in Vancouver, looking for small spaces, micro-condos, micro-suites or whatever you would like to refer to them as. These people are active and spend little time at home, and appreciate the lower taxes and maintenance fees that these units provide.

Who said you have to spend a million plus to live in a beautiful Vancouver neighbourhood?

At Keith Vines and Associates, we offer good old fashion service, working with our home buyers and sellers in a relaxed, friendly manner, applying every available tool available to achieve the best possible outcome. If you are curious as to what homes are selling for in your neighbourhood or complex, sign up for Neighbourhood Update – and get the facts.

Here are a few weird and (somewhat) interesting facts that I was completely unaware of. How many did you know?

Flamingos bend their legs at the ankle, not the knee

They essentially stand on tip-toe. Their knees are closer to the body and are covered in feathers.

Froot Loops loops are all the same flavour

No point in eating around the purple ones - all Froot Loops taste like froot.

Supermarket apples can be a year old

These weird facts might have you changing the way you eat. Those fresh apples aren't all that fresh. They are usually picked between August and November, covered in wax, hot-air dried, and sent into cold storage. After 6 to 12 months, they finally land on your grocery store shelves.

It's impossible to hum while holding your nose

You just tested it, didn't you? Normally, when you hum, the air is able to escape through your nose to create the sound, and of course, it can't do that when you're holding it shut.

The British royal family is named after Windsor

You would think Windsor Castle was named after the House of Windsor, but it's the other way around. The royal family changed its name from Saxe-Coburg-Gotha in 1917 so it would sound less german and chose Windsor because they had ties to the English town.

The Statue of Liberty used to be a lighthouse

About a month after the statue's 1886 dedication, it became a working lighthouse for 16 years, with its torch visible from 24 miles away.

At Keith Vines and Associates, we offer good old fashion service, working with our home buyers and sellers in a relaxed, friendly manner, applying every available tool available to achieve the best possible outcome. We also love referrals and will gladly pay for them. If you would entrust us with your friends/family, kindly send them our way. Refer, and You Shall Receive

The internet has fundamentally changed our life. It helps us navigate through our days, it connects us with other people across the world and it's having some unexpected effects on our brain.

Thanks to innovations like smartphones, tablets and social media, technology will likely continue to re-shape the way we communicate, feel, and think.

Here are just 3 ways the internet is changing how we think. There are many more.

It's shortening our attention spans.

We have been concerned about the internets effect on concentration for years, and according to a 2015 study, those fears of becoming 'digital goldfish' may have already been realized.

The average goldfish famously has an attention span of approximate 9 seconds, but humans had an attention span of 12 seconds - unti 2000,when it suddenly dropped to 8 seconds. That startling change has been traced back to the advent of the mobile phone.

There seems to be a generational divide when it comes to attention spans as well. Nearly 80% of 18-24 year olds surveyed admitted to picking up their smartphone 'when nothing is occupying their attention, compared to only 10 of people over 65.

It's trapping us in a state of perpetual distraction.

How often do you check your phone? A 2016 study found that the average  smartphone user checks their phone over 2,600 times a day. That adds up to a million times a year, and that number is likely to keep increasing as people become even more dependent on their devices.

What the internet is doing to our brains has been described as 'a state of perpetual distraction and constant disruption', the price people pay for having 'unlimited information at their fingertips'.

It is said that 'if you exist in a perpetual state of distractedness, you'll never tap into your deepest source of human insight and creativity.

It's making long-term memory worse.

Constant browsing, scrolling, and clicking can potentially impact a person's ability to retain and remember information. If you are constantly distracted and taking in new information, you're essentially pushing information into and out of your conscious mind. You're not attending to it in a way that is necessary for the rich consolidation of memory.

In 2011 there was a study published that noted how people remembered less information, since they knew they could easily Google it later. In other words, access to the internet can encourage a lazy mind.

At Keith Vines and Associates, we offer good old fashion service, working with our home buyers and sellers in a relaxed, friendly manner, applying every available tool available to achieve the best possible outcome. We also love referrals and will gladly pay for them. If you would entrust us with your friends/family, kindly send them our way. Refer, and You Shall Receive

In regards to an article in The Vancouver Sun, rent for one-bedroom  apartments in Vancouver rose more than any other major Canadian city over the past year.

According to the latest National Rent Report, the average monthly rent for a one-bedroom home in Vancouver rose 13.2% to $2,179 from December 2020 to December 2021.

The cost of a 2-bedroom unit in Vancouver was $2,983 - an increase of 9.7% compared to December 2020.

The increase in cost of a 2-bedroom rental apartment in Toronto was 11.64% during the year. However, the largest jump in that category was in Gatineau, Quebec, that saw an 18% increase in the two-bedroom category.

Across the country, the average cost of a one-bedroom apartment rose 2.73% and a two-bedroom rose 3%.

Rents actually fell during the first year of the COVID-19 pandemic but have now recovered.

The lowest point was in April 2020, a month after the pandemic was declared in Canada, with a 9% drop from December 2019.

The average cost of a one-bedroom home rental in Victoria rose less that 1% to $1,566 a month over the past year.

At Keith Vines and Associates, we offer good old fashion service, working with our home buyers and sellers in a relaxed, friendly manner, applying every available tool available to achieve the best possible outcome. Please take a moment to sign up for Keith’s Grapevine – a periodic eletter full of interesting market news, advice and tidbits

When the pandemic began in 2020, larger cities across Canada saw a mass exodus of people heading to smaller towns and rurul areas. One company keeping track of all this movement is U-Haul, the do-it-youself truck rental company.

This study appears to be an effective gauge of how well cities are both attracting and maintaining residents.

Alberta has been the best province to make home, where there are initiatives to create more job opportunities and attract residents.

Of the top 25 Growth Cities in the country, 3 are in Alberta. Red Deer-Lacombe came in 8th, Medicine Hat-Redcliffe 15th and Airdrie 24th. 

In B.C., Kelowna hit 6th on the Growth Cities list, Kamloops 11th and Penticton 21st. None of the three were on the previous year's list. Apparently reflective of the more expensive real estate, people  bypassed the cities of North Vancouver, which slipped to 10th spot from 2nd in 2020 and Abbotsford to 22nd from 11th. Chilliwack just missed the Top 25 list. Vancouver plummeted to 23rd from 7th.

At Keith Vines and Associates, we offer good old fashion service, working with our home buyers and sellers in a relaxed, friendly manner, applying every available tool available to achieve the best possible outcome. Please take a moment to sign up for Keith’s Grapevine – a periodic eletter full of interesting market news, advice and tidbits

The snow seems to be dissappearing again and hopefully for a while, but I am guessing this isn't the end of it this year. Here are a few simple tricks to protect your home from damage from the snow.

Remove the Snow on your roof, especially deep snow because when it melts it can back water up between shingles and flashings increasing the potential for leaks inside. But be very careful. Don't slip!

Icicles on your roof edge may be the result of inadequate insultation. Something you wouldn't necessarily realize until you experience wet, freezing weather.

Snow should never get  piled up against your house (eg siding). When it melts it may increase the potential for leaks inside.

The ground around your home should always have the snow shoveled clear and snow melt should be directed away from your foundation. Puddling against the home may increase potential for leaks.

At Keith Vines and Associates, we offer good old fashion service, working with our home buyers and sellers in a relaxed, friendly manner, applying every available tool available to achieve the best possible outcome. We also love referrals and will gladly pay for them. If you would entrust us with your friends/family, kindly send them our way. Refer, and You Shall Receive

I must admit, my music taste varies and I don't really get into preferred genres.

I spend a lot of time listening to different radio stations on ITunes, whether it be hard rock, mellow rock, instrumental jazz, country...  My wife loves country, so we listen to quite a bit of 93.7 JR Country and my go to station in the car would be 102.7 The Peak for their alternative playlist.

My favourite songs for 2021 changed a number of times throughout the year (I am quite fickle) but as the year came to a close my 3 favourite songs were:

Nathaniel Rateliff and the Night Sweats - Surviver

Boy Golden - KD and Lunchmeat

Dayglow - Can I call you tonight?

Looking forward to a lot of great music in 2022!

What were your favourite tunes of 2021?

At Keith Vines and Associates, we offer good old fashion service, working with our home buyers and sellers in a relaxed, friendly manner, applying every available tool available to achieve the best possible outcome. If you are curious as to what homes are selling for in your neighbourhood or complex, sign up for Neighbourhood Update – and get the facts.

This year we have experienced a number of unheard-of-weather events in and around Vancouver, and there just might be one more rare event coming.

Odds are good for a white Christmas in Vancouver this year.

'It's very likely, it's nearly a 100% chance that we will have a white Christmas this year for Metro Vancouver', says Environment Canada meteorologist Doug Lundquist.

December is the coldest month of the year in Vancouver, but that doesn't often translate into snow on the ground on December 25th. But thanks to some Arctic and Pacific air meeting in the area for the next few days, it's almost certain snow will fall and stay for Christmas.

Currently, the forecast is calling for temperatures to drop to -4C on Christmas Eve, with snow falling, and we might not see temperatures above freezing until December 27th.

Lundquist notes that Vancouver often see this happen this time of year, but it only settles in for a few days. This year it just happens to fall on the right days.

The coldest days are looking like Christmas Day into Boxing Day and then it warms up a little bit as early as the day after Boxing Day.

This all lines up to create a winter wonderland for those staying in their homes on Christmas, but Lundquist notes it'll also wreak havoc on the streets in the city, and cold cause real problems for anyone traveling on the highways.

Highway 3 and 99 into the interior are open again/ These roads are scary at the best of times in the winter. Please be carefull and check Drive.BC for conditions and dress warmly.

At Keith Vines and Associates, we offer good old fashion service, working with our home buyers and sellers in a relaxed, friendly manner, applying every available tool available to achieve the best possible outcome. If you are curious as to what homes are selling for in your neighbourhood or complex, sign up for Neighbourhood Update – and get the facts.

The pandemic has changed a lot of real estate trends, one of the lesser known of which is multigenerational living in luxury homes.

This usually consists of 3 generations and are most common in Sino and Indo Canadian communities. However, the COVID-19 crisis has taken it to a whole new level.

With the pandemic, people want to have all their family members under the same roof for security purposes, for lack of confidence in long-term care facilities.

Because we are having 3 generations under 1 roof, the homes tend to be no smaller than 6,500 square feet, and typically come with large bedrooms, amenities like home gyms,  pools and tennis courts, and there's even demand for home elevators to accomodate the elderly.

Will this trend continue after the pandemic subsides? Or will it ever subside?