Real Estate Digest

12.05.2014

Interesting Articles and News about Vancouver and it’s Real Estate Market

Take a look at our weekly round-up of interesting links and talking points about East Vancouver and the Real Estate Market:

Condo Owners Ignoring Depreciation Reports? (Business in Vancouver)

A Depreciation Report is a 30 Year Building Maintenance Plan – every component of the building is assessed and given a life span and cost of replacement (based on industry standards). The report sets out a 30 year financial plan to cover the costs, whether that be through special assessments or strata fees.  A new rule enforced every strata building in Vancouver to either have a Depreciation Report done by 2013, or vote to postpone it (the Depreciation Report can only be postponed for 3 years before the building has to have it completed). Apparently, only 25% of buildings in the city have chosen to have this report done. This is a surprisingly low number, but I expect it to jump in the next year or two. Many strata building chose to postpone the report until they saw the effects the report had on other buildings, and others chose to postpone it while they finished already agreed upon building maintenance. One thing is certain – expect the strata fees to increase in every building that completes the report, as they begin to plan for their financial future.

 

Gregor Robertson Admits Mistake Rushing East Vancouver (The Province)

Gotta hand it to Gregor Robertson – choosing to tackle a major issue that everyone has an opinion on. Densifying East Vancouver to make room for the expected increase in our population and trying to offer more affordable housing to some of our established, older neighbourhoods. However, his approach could have been more streamlined, and admits to that. Read about his thoughts on the topic.

 

Neighbourhood Farmer’s Markets are Back!

My favourite time of year! Local farmers bring their bounty to many of Vancouver’s neighbourhoods so we can enjoy homegrown fruits and vegetables and other interesting products like cheese, organic meats, sauces and more. Check out the location and schedule of each farmer’s market, and plan for an outing each weekend. Expect fresh rhubarb and asparagus at this time of year!

 

Car Free Days in Vancouver

Car Free Day is back in Vancouver! A fun day where different neighbourhoods in Vancouver shut down their main thoroughfare so we can enjoy community focused entertainment, food, shops and more. Gather your friends and family, it’s a great day of people watching and fun.

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