Come on down to 12740 Trites Road (South end of Trites Road in Steveston, close to Trites Pond) this Saturday and Sunday from 7am to 4 pm for Steveston's first annual herring sale.

 

Many of us know someone who has beat cancer or have lost a family member, friend or co-worker to cancer.  It strikes without warning and cancer is at its most vicious when it attacks the young.

 

Brent Melan, a long time commercial fisherman came up with the idea to use some herring bait quota to hold a herring sale on the first weekend of December in Steveston.  The herring will be sold for $10 per bucket.

 

All proceeds will be going to the BC Children’s Hospital Foundation to help children with cancer.  Nobody is being paid for this event.  The fishing vessel, the Prosperity, along with its fuel, fishing gear and commercial fishing licence has been donated by Randy Reifel.  JO Thomas is donating the fishery observers and catch validators.  The Steveston Seafood Auction is donating the unloading facilities and Steveston Ice is donating the ice.  The Steveston Harbour Authority is donating its harbour facility.

Volunteers are welcomed to help direct cars, put herring in buckets, entertain customers, help collect the money and a dozen other jobs. 

 

Whether you have a couple of hours or a couple of days to help make the First Annual Herring Sale a success, please email us at:  fhkwcvolunteer@gmail.com.

 

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Enjoy a Saturday afternoon with a moderately strenuous (two hours of hiking) snowhoe tour around First Lake and on to Dog Mountain. Learn about local ecology, winter adaptations of wildlife, and the connection between snow and our drinking water supply. After the hike, we'll head indoors for a cup of hot cocoa and an opportunity to discuss the importance of protected watersheds and the future of water management.
Ages 18+

December 10th 1:30 pm to 5 pm
$18 with own snowshoes
$25.00 includes snowshoe rental
Registration required, call 604 432-6359 or email watershed.ed@metrovancouver.org
Presented in partnership with Mt. Seymour Resorts

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Two days after capturing the 99th Grey Cup with a 34-23 win over Winnipeg at B.C. Place, the B.C. Lions will return to the stadium for a celebration of their championship. Players and coaches will be on hand for the ceremony, which begins at 12 p.m. on November 29. Doors to the stadium will open at 11 a.m. Fans are asked to enter through Gate A.

The rally will serve as the official celebration for fans to salute the team for its 2011 season. There will not be a victory parade as is tradition after many professional sports teams win major championships.

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Ben Nelms for National Post

Ben Nelms for National Post

Melissa Yan, with her dog Sam, is one of a growing number of 20-somethings who are no longer waiting until they get married to purchase a home for the first tim

Melissa Yan wondered why she had to wait until she got married to buy a home.

She decided she didn’t. So the 28-year-old, who works in marketing for Magnum Projects, opted to jump into Vancouver’s hot housing market at Christmas in 2010.

She picked up a 600-square-foot, one-bedroom apartment in Vancouver’s trendy Yaletown district in a design that would fit her needs and a price tag that would allow her to enter the market and establish equity so that one day she could get an even bigger house.

“I have always known I had wanted to own, so I made it a priority for myself to put aside money for the past five years,” says Ms. Yan, who was living with family as she saved. “It’s a home, it’s an investment — a bit of both.”

Ms. Yan, who says her work in real estate convinced her she needed to buy, is one of a growing number of 20-somethings who are no longer waiting until they get married to purchase a home for the first time. She is part of a trend that adds an extra stage to the housing market.

Traditionally, people bought their first property upon marriage, looked for a move-up when their families got larger, scaled down as the kids moved out and then were off to the retirement home.

But the new reality is that more first-time buyers fit Ms. Yan’s profile.

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A great amenity should bring an exciting new dimension to your life

 

 
 

1. Inspired design. Stirring, compelling architecture instills your sense of owner pride. Pride leads to an intense sense of fulfillment. And fulfillment leads to a relaxed, comfortable state of mind. A sense of relaxation while living in your home creates obvious benefits: better health, increased happiness, and the ability to cope with physical and psychological challenges. Well-designed, award-winning communities validate your lifestyle choices, while signature design elements enhance your individuality.

2. A trusted builder. A home is the largest personal investment you will make, both financially and emotionally. Make sure that your homebuilder will stand behind its craft. An extended warranty guarantees extended peace of mind and avoid unnecessary and unexpected maintenance costs. Outstanding customer service takes the dayto-day worry out of ownership and contributes to peace of mind.

3. Verified sustainability. Third-party certified sustainable home standards provide a triple bottom line for home owners. First, there's a direct financial benefit-for example, in your lower monthly energy bills. That feels good! Secondly, reducing your environmental impact enhances feelings of social responsibility. Finally, there's the knowledge that living "green" will improve the lives of others. Sustainably-built homes made from eco-consciously produced materials can offer a healthier environment.

4. Customization, not cookie cutter. You wouldn't like someone else telling you what to wear and how to act-why would your house be any different? You have your own style. Choose the way your home will look and feel inside.

5. A valued location. You get what you pay for; and the least expensive house will seldom fit your needs. On the other hand, affordability is important. The perfect home strikes a balance between what you need and what you desire. Enduring real estate value is usually tied to location. But it's more than that-today's homeowner deserves to be able walk to good retail shops, public transit, green, open spaces, and decent schools.

6. Truly useful amenities. A great amenity package should add an exciting new dimension to your life. A place to socialize, to recharge, to entertain, or to escape-where you can meet your neighbours, and make new friends. A worthwhile amenity program will make you feel good about your home investment.

zen. Part of the award-winning Salus neighbourhood at Scott Road and 66th. See why Salus already exceeds the expectations of its 375 homeowners.

A limited number of stunning West Coast Modern Lanai-style homes are available. Certified Built GreenTM Gold, with a comprehensive customization program to meet individual needs. Built by Adera, more than forty years in the local home-building, dream-making business.

Explore exclusive Club Aqua-features include a wellness centre, entertainment complex, and the first fully functioning spa, right at your front door. Feeling better, now?

Incredible value! There are only 19 apartment style flats (many with views) and 6 exclusive townhomes (with private rooftop terraces) on the lagoon left. Net HST is included with this special Close Out pricing.

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 A clear update featured in todays Vancouver Sun By Brian Morton
 
Residential sales picked up outside Metro Vancouver in October, according to a B.C. Real Estate Association report released Tuesday.
 

Residential sales picked up outside Metro Vancouver in October, according to a B.C. Real Estate Association report released Tuesday.

 

Photograph by: Times Colonist, timescolonist.com

 

Residential sales picked up outside Metro Vancouver in October, according to a B.C. Real Estate Association report released Tuesday.

"B.C. home sales rose three per cent in October compared to September on a seasonally adjusted basis," BCREA chief economist Cameron Muir said in a statement.

"While consumer demand in Vancouver edged lower last month on a year-over-year basis, strong increases were recorded in the Fraser Valley, Kamloops, Kootenay, the North and on Vancouver Island."

Muir said that total active residential listings in B.C. declined by 3,360 units in October from September, although active listings were up 6.9 per cent from October 2010.

"Market conditions remained slightly in favour of home buyers last month."

Residential unit sales in the province rose 6.5 per cent to 5,865 units in October compared to the same month last year, while the average price was up 2.6 per cent to $535,695 last month compared to October 2010.

Year-to-date, B.C. residential sales dollar volume increased 16.8 per cent to $38 billion, compared to the same period last year, the BCREA said.

Residential unit sales increased 3.5 per cent to 66,922 units over the same period.

According to the report, the average Metro Vancouver price rose 8.5 per cent from October 2010 to October 2011 to $767,000.

Prices in the Okanagan dropped 14.3 per cent to $367,000 in that period, and fell 6.1 per cent in Victoria to $476,000.

Total sales dropped one per cent in Metro Vancouver in October compared to October 2010 to 2,359.

Sales rose two per cent in the Okanagan to 403 and were up 3.1 per cent in Victoria to 461.

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An well writtien article I came across in the Vancouver Sun this past weekend By Derek Sankey, For Postmedia News.  A few ideas to take into account regarding passing the family recreational property down.

 

For many families, heading out to the cabin on the lake or a lodge nestled in the mountains with the kids has been an annual ritual where memories are created, new friends are made and good times are had by all.

Passing down that property to the kids is a common goal for a lot of those parents, who want to create a legacy property that can be enjoyed for generations to come. But when it comes to the details of how to structure such an arrangement, things can get very complicated very quickly, according to experts.

"With the demographics being the way they are, it's just going to become more of an issue for families that currently own B.C. or Alberta (recreational) property," says Jamie Stewart, a Calgary lawyer with McLeod and Co. LLP who specializes in Alberta and B.C. recreational real estate.

Christine van Cauwen berghe of the Investors Group says starting a conversation about passing down the family recreational property can be an awkward, but necessary, step to eliminating the potential for a crisis or quarrel among other members in the family.

You also have to consider such details as probate fees, which range from province to province and are generally a percentage of the asset that's paid to the government when distributing your assets through your will. Probate fees are generally higher in B.C. and Ontario than in Alberta.

Many parents will attempt to transfer a property to the children before they die by putting the kids on as joint tenants, but that's a decision that can lead to some serious questions by Canada Revenue Agency.

"We talk really seriously with people who are considering that because it can also be a very risky move," explains Rick Breen, an estate lawyer with McLeod and Co.

If a child gets divorced or goes bankrupt, there is also potential to lose that heritage asset. You should also consider liquidity issues. A big tax bill on an asset you don't want to sell could force you to sell it if you don't have the money to pay the tax.

You also need to consider life insurance, especially if you make the insurance payable to the estate.

Tax arrangements can get complex, which may require the expertise of an experienced tax lawyer to structure a deal in such a manner that reduces the potential for things to go wrong.

Capital gains taxes are another key concern. Some owners will try to move "half out there" to the second property to try to create some sort of principal residence on the recreational property, but that can also raise red flags with the government.

If you decide to own the property jointly, you also have to decide how it's structured - whether you own separate shares or own it jointly outright, or perhaps each child has a third interest in the property.

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Chris Wattie/Reuters

 

Bank of Canada Governor Mark Carney.

  Nov 9, 2011 – 4:10 PM ET | Last Updated: Nov 9, 2011 4:50 PM ET

 

As the nail biter in Europe continues this week, two economists are predicting the Bank of Canada will move to cut rates in a big way next year.

Sheryl King, an economist at Bank of America Merril Lynch, said in a note that the volatility hitting Europe and the risk of damage to the global economy means the Bank of Canada will move to cut rates by a whopping 0.75% from the current 1%.

“With the Eurozone sovereign debt and banking crisis showing no sign of containment, we think the Bank of Canada will cut rates back to the effective lower bound of 25 basis points (0.25%) early next year,” she said.

Also predicting a lower interest rate were economists at Capital Economics, who forecast a more mild cut of 50 basis points that they expected to occur in April or June. They also added that rates were likely to stay low for years from here on out.

 

“The Bank might communicate that its policy rate will remain at 0.50% for a lengthy period of time, conditional on its projected outlook for consumer price inflation,” David Madani, Canada economist at Capital Economics said. “Even if we are wrong, the broader message remains that interest rates will remain unusually low for a very long time.”

Most economists, however, are still predicting that the Bank of Canada will move to raise rates rather than lower them. In a recent Reuters survey of 40 economists last month, the consensus was that the Bank of Canada would move to raise rates in the third quarter of 2012.

Canada became one of the first advanced economies to raise its benchmark interest rates following the recession. The Bank of Canada last raised its rate in September 2010, moving it up by 25 basis points to 1%. It has since held the rate unchanged at 1%

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New houses being built in Surrey, Langley and Burnaby helped push the Lower Mainland's October housing starts slightly higher than the same month a year ago.
 

New houses being built in Surrey, Langley and Burnaby helped push the Lower Mainland's October housing starts slightly higher than the same month a year ago.

 

Photograph by: Roxanne Hooper, Langley Advance

 

New houses being built in Surrey, Langley and Burnaby helped push the Lower Mainland's October housing starts slightly higher than the same month a year ago.

In British Columbia, October's seasonally adjusted annual rate of urban housing starts moved slightly higher to 27,800 units from 27,400 units in the previous month according to the latest data from the Canada Mortgage and Housing Corporation, Canada's national housing agency.

"So far this year, housing starts have been strong, higher than the same period last year," said Robyn Adamache, CMHC's senior market analyst, in a press release. "Multi family construction, including purpose-built rental projects, led the way during the first ten months of the year. Most construction during the first ten months of the year was in the cities of Vancouver, Richmond, and Surrey."

Countrywide, the seasonally adjusted annual rate of total housing starts decreased to 207,600 units in October, from 208,800 units in September.

Seasonally adjusted annual rates are monthly housing starts figures adjusted to remove normal seasonal variation and multiplied by 12 to reflect annual levels.

The CMHC says this adjustment facilitates the comparison of the current pace of activity to annual forecasts as well as to historic annual levels.

Better housing forecast

B.C.'s Multiple Listing Service has forecasted a 3.2 per cent rise in residential real estate sales this year compared to last.

The B.C. MLS projects 77,000 units will be sold this year, up from 74,640 units sold in 2010. It also projects a further 3.9 per cent increase next year to 80,000 residential units sold.

“Low mortgage interest rates are expected to persist through 2012 keeping affordability on an even keel,” said Cameron Muir, BCREA Chief Economist, in a press release. “However, headwinds on the economic front will constrain consumer demand over the next year to below the ten-year average of 87,600 units.”

A record 106,300 residential sales were recorded by the MLS in 2005.

“Moderate consumer demand combined with larger inventories of homes for sale means BC housing markets will experience little upward pressure on home prices through 2012,” Muir said.

"The average MLS residential price in the province is estimated to rise 11.8 per cent to $564,600 this year, and is forecast to decline 2.5 per cent to $550,500 in 2012."

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Which is a ‘sensible’ investment now?

I found this to be a crazy interesting story by David Grainger of the Postmedia News.

 
A 1957 Ferrari Testa Rossa prototype sold for $16,390,000 in Pebble Beach, California in August.
 

A 1957 Ferrari Testa Rossa prototype sold for $16,390,000 in Pebble Beach, California in August.

 

The sword of Damocles has never been a more apt metaphor when describing today’s economic environment. Stock markets are a bigger risk than spending the day at the casino and real estate has lost its Gibraltar-like air of certainty when it comes to having a secure place to put your money.

So, with all of the uncertainty and the prospect of the skies actually falling in the next year or two, why is it that some commodities continue to soar in price and desirability?

Exactly what commodities, you may ask? High-end collectibles, which range from rare Art Deco glass figurines and Tiffany lamps to rare antique and classic cars. Now, I know I have mentioned this on more than one occasion, but the continuing strength of the high-end collector car market continues to puzzle classic car collectors and enthusiasts and genuinely confuse investment gurus, who preach the placing of big money in more “sensible” investments.

To give you an idea of just how good an investment these cars have become, one only has to look at the performance of classic car auctions over the last few years. Where, once upon a time, the sale of a $500,000 car was treated as an event, in this market, a car valued at that level doesn’t make a ripple. Million-dollar-plus cars are becoming more and more the norm at a lot of auctions and it is not unusual for an auction house to post 10 or more cars selling at that level at just one sale. As a matter of fact, $4-million and $5-million cars are not uncommon. And now it takes a sale of $10-million for a car to really arouse media attention.

This August during the Pebble Beach Concours week, the Gooding & Company auction house achieved a world record auction price for a single car — $16,390,000 for a 1957 Ferrari Testa Rossa prototype. (This is the same auction house that, by private treaty, sold a Bugatti Atlantique for $35-million a couple of years ago.)

At the same sale this summer, Gooding recorded 37 world record prices paid for cars. A Duesenberg Model J coupe established a record price of more than $10-million, putting an American-made car into territory normally occupied by European greats such as Ferrari and Bugatti.

The Canadian auction house RM also posted spectacular results at Pebble Beach, but that is not where it stops. RM has had several sales since then, and at auctions where prices would historically have been conservative — such as its event in Hershey, Penn. — prices this fall were still extraordinarily high. The world’s oldest running car, an 1884 De Dion Bouton steamer, sold for $4,620,000. That was despite a pre-auction estimate of $2-million to $2.5-million. Ten years ago, that car would probably not have sold for anything more than $200,000 or so. This all makes me feel good as I have a 1901 De Dion Bouton, and the sale of the 1884 De Dion can serve to pull up the value of other cars created by the same manufacturer.

There are several ways to play the game. One is to beat the bushes for extraordinary cars that are hidden in barns and garages. This is akin to hunting for Spanish treasure, although the odds are a bit higher. For instance, a rare original Italian car that I bought last year for $50,000 sold this year for $200,000 in its original shabby condition. I had even preserved the dust and detritus that was on it when it was pulled from its garage.

Another simpler method is to buy at auction, but this game is one of patience. While you can sometimes get a deal on the right car, most will invariably cost a premium. In some cases, aggressive bidding may end up with you as an investor paying a world record price — but that isn’t necessarily a bad thing. What this does is establish what someone (you) is willing to pay for the car. This means that it now has a new value exceeding its old value. Now, you can’t just throw it into the next auction or it will stall, but you can sit on it for a few years and then introduce it to potential buyers again. This is where you will likely make a killing.

Once people are comfortable with a car’s new price range, they will likely feel just as comfortable setting a new price range a couple of years down the line. This means that you are now a savvy player who can laugh all the way to the bank.

I used to advocate that cars are like art and should be bought because you like them first and secondly as investments, but, these days, with enough knowledge, there is little risk in buying them simply as investments. Seems a better bet than Research in Motion or Northern Telecom, doesn’t it?

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New listings sharply higher than a year ago, but lower than September 

 

Benchmark home prices in Metro Vancouver have increased 7.5 per cent to $622,955 in October 2011 from $579,349 in October 2010, according to the latest monthly report from the Real Estate Board of Greater Vancouver.

However, since reaching its peak in June of $630,921, the benchmark price - that of a typical home - for all of the residential properties in the region has declined 1.3 per cent.

The report also said that sales of detached properties in October reached 974, which is about the same as October 2010.

In addition, new listings for all properties totalled 4,374 in October, which is an 18.3-percent increase when it is compared to October 2010, when 3,698 properties were listed for sale, and a 23-per-cent decrease compared to the 5,680 new listings in September 2011.

The total number of properties that are listed for sale now sits at 15,377, which is 9.3 per cent higher than the 14,075 properties that were listed for sale during the same period last year.

Meanwhile, the benchmark price of a single family detached home in the Fraser Valley in October was $530,335, an increase of 4.9 per cent compared to $505,759 in October 2010 and on par with the price in September, according to the Fraser Valley Real Estate Board.

 

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