I have listed a new property at 3321 PLATEAU BLVD in Coquitlam.
This Westwood Plateau home backs onto the golf course and enjoys mountain views from the back decks. Birds eye view of the second hole green! Spacious main floor with adjoining living, dining room & office, family room with fireplace and kitchen with quartz counters, eating bar, pantry, SS appliances and door to the back deck. Up are 4 bedrooms, bathroom and flex area for your computer, master with walk in closet, martini deck and huge ensuite with separate shower and soaker tub. down is a living area with kitchen, 2 bedrooms, laundry & separate entry. Good sized home for your family, close to Westwood Plateau golf Course, shopping and schools.
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I have listed a new property at 5464 VENABLES ST in Burnaby.
Tudor style family home in the desirable Parkcrest neighbourhood of North Burnaby. this spacious and bright home is perfect for your family with 3 bedrooms up and potentially 2 down or the possibility to make a suite and still have plenty of room. Main floor living room with floor to ceiling stone F/P and vaulted ceiling with beams, adjacent dining room, kitchen with eating area and den with access to the sundeck. Down is a spacious family room, laundry, bathroom, den and lots of storage. this home is waiting for your renovation ideas. Large south facing rear yard, fully fenced with patio and garden shed. Walk to Kensington Park with ice rink, pitch & putt golf & playing fields, the shops along Hastings Street or all levels of schools.
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I have sold a property at 10656 138A ST in Surrey.
Attention Developers!! Surrey's City Centre Official Community Plan has this site as multi-family residential development. With low to mid rise buildings at 2.5 FAR. Purchase for development or as an excellent holding property with good rental income. Great location, walking distance to SFU Surrey campus & skytrain stations. Close to shopping and restaurants and great for your commute with quick access to Hwy 1 and King George Blvd.
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I have sold a property at 1003 1196 PIPELINE RD in Coquitlam.
Welcome to the Hudson and this amazing home with its massive deck and panoramic view! If you enjoy outdoor living and spectacular views, then this is the property for you!! Very spacious 2 bedroom with over 1,300 square feet of living space and a whopping 1,900 square foot deck! New carpeting throughout the home. Bright kitchen, good sized laundry room, master with his & hers closets & 4 piece ensuite, second bedroom/den with Murphy bed. Impressive building with indoor pool, recreation centre, a very pro active strata council and an on site caretaker. 2 side by side parking and bonus 2 good sized lockers! You are steps to Lafarge Lake, Transit, Skytrain station, shopping, restaurants and recreation. Showings start Saturday, September 25th by appointment.
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Trudeau promised transparent bidding if re-elected for another term. Here’s what it means for housing prices if he follows through 

Canadians are experiencing the frustrating side of “blind bidding” that prevents hopeful buyers from knowing what others are offering for the property.Canadians are experiencing the frustrating side of “blind bidding” that prevents hopeful buyers from knowing what others are offering for the property. 

Kelly Medeiros has been bidding on houses for months. So far, the 31-year-old has made five offers on homes in the Durham region since July and has lost every time to a higher offer, falling short anywhere from $20,000 all the way up to $110,000.  

The problem, the Toronto-based media professional says, is that she hasn’t known how far off her offers have been from winning until the houses sold and the sale price was made public.

“If there are 10 offers around [the same amount] and somebody learns that there are 10 offers, they often panic and offer way more than they need to,” she says. “Like maybe you could have had that house by offering an extra $10,000, but instead, you’ve offered $100,000 more.”

Canadians like Medeiros are experiencing the frustrating side of “blind bidding” — a common real estate practice, also known as sealed or closed bidding — that prevents hopeful buyers from knowing what others are offering for the property. The tactic is hotly debated and often blamed as a contributing factor in Toronto’s overinflated market. Leading up to the 2021 federal election, the Liberals made the promise that if re-elected they would ban blind bidding nationally, by implementing a Home Buyers’ Bill of Rights , to help cool housing prices and make the process of buying a home more “fair, open and transparent.”

  

But experts have mixed opinions about whether a flat-out ban is the solution to bidding wars. Some say it won’t bring down prices at all.

According to Murtaza Haider , a professor of real estate management at Ryerson University, there’s plenty of anecdotal data and speculation that indicates closed bidding drives up housing prices. But there isn’t raw provincial data to determine how much, exactly, the practice is jacking up sales.

In Ontario, real estate rules prevent the selling agent from telling realtors and their clients the contents — that is, the offer amount — of competing offers. All they can disclose is the number of competing offers to every hopeful buyer.

To make meaningful change to the industry, the government’s first course of action, Haider says, should be to put together a commission or an advisory group that includes all stakeholders, including representatives of buyers, sellers, the real estate industry and the Canada Mortgage and Housing Corporation. From there, amendments to real estate rules can be made to enhance the marketplace — something that can be aided with technology.

Haider says a digital platform that allows the selling agent to show bidders what others are offering, without disclosing their names, would provide more transparency and help buyers make informed decisions. There’s already efforts to change up the way people buy homes in Ontario with On the Block , for example, an online auction platform that allows registered bidders to see other offers in real-time.

“Discouraging competition is not the point,” Haider says. “The point is that when more than one prospective buyer is competing, they are not doing so in ignorance.”

Nicki Skinner , a Toronto real estate agent with Bosley Real Estate, says that because real estate regulation is a provincial issue, it would be difficult for the federal government to implement a nation-wide ban on blind bidding. It’s likely going to be up to the provinces to determine new rules.

  

And even if another selling option does become popularized, like auctions — which are legal in Ontario, albeit not common — Skinner doesn’t think it would stop people from “overpaying” for what they want.

“If you’ve got two people who really want [a property], they will push the price up to the same level anyway,” she says of open auctions versus closed bidding.

That jives with what we know about consumer behaviour, says Tsur Somerville , an associate professor at the University of British Columbia’s Sauder School of Business who specializes in real estate. While transparency can help people feel confident that they’re not being taken advantage of — something that’s important in competitive markets — an open auction won’t solve Canada’s affordability problems. In fact, open auctions can result in similar financial outcomes as blind bidding, especially in sought-after markets.

 

 
 

Somerville says in Australia, where live auctions are common and often happen on the lawn of a property, prices in major cities like Sydney and Melbourne are high. In Sydney, housing prices are up nearly 21 per cent year-over-year as of August, according to property data company CoreLogic , and prices in Melbourne are up 13 per cent.

“Blind bidding is not the main thing, or even one of the top five things, that’s responsible for Toronto’s lack of affordability,” says William Strange , a professor of economic analysis and policy at the University of Toronto’s Rotman School. “I don’t know a single economist who believes that.”

As he sees it, “if blind bidding were so disadvantageous for consumers, you wouldn’t see sophisticated participants perfectly happy to jump in.”

 

The bigger problem, according to many experts, is a Toronto housing shortage that cannot meet demand. While the Liberals have promised to build, preserve or repair 1.4 million homes — including affordable housing — over the next four years across Canada, it’s unclear what that exactly entails, says Skinner.

“The city, the province and the federal government have to work together to figure out what assets they have that can be turned into housing, and how to do it quickly,” Skinner says. “And then, is that going to be subsidized housing, rental housing at market value? Or financially assisted housing? That part isn’t clear.”

Meanwhile, the existing stock in big cities like Toronto and Vancouver is going to remain competitive, she says, because they are central hubs and are on par with other major cities like New York. Not everyone is going to be able to buy the home they wish they had in the city they want to live in.

This is the reality Medeiros is facing. Even though she works downtown, housing prices in the city are forcing her to look in suburbs like Durham and Whitby. Both she and her fiancé work full-time, and even with dual incomes, they’re struggling to get into the market.

“When we’re putting in offers, we’re pretty much going in at our max almost every time,” Medeiros says. “So if we lose out, we know we offered our best. There’s no more money to give.”

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I have sold a property at 1026 IOCO RD in Port Moody.
Ocean views and the sea breeze; it doesn't get any better than that! This home takes advantage of the open floor plan and windows across the back of the home to enjoy that view. Unique architecture with wooden vaulted ceilings, exposed beams, floor to ceiling and clerestory windows. Corner gas fireplace in the living room and huge family room off of it. Country style kitchen was updated in 2019 with white shaker style cabinetry & quartz counters. Master bedroom on the top floor with martini deck and large master bath. Huge deck off the living area and plenty of yard for the kids and dogs to roam. This home is move in ready or bring your building plans for that dream home.
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I have sold a property at 1306 200 NEWPORT DR in Port Moody.
Great location for this bright, 2 bedroom and den unit right in Newport Village. Bright and nicely laid out with an open floor plan and plenty of windows to enjoy the views. Beautiful updates including breakfast bar, high end stainless steel appliances, granite counters, white shaker style cabinetry, new vinyl plank flooring & stone fireplace surround, also new wood doors and casings. Large master bedroom with walk-in closet and 3 piece ensuite including huge walk-in shower. Walk to all the shopping and restaurants at Newport and Suter Brook, close to Skytrain and the trails at Inlet Park. Pet friendly building that was re-piped in 2017.
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I have sold a property at 210 3105 LINCOLN AVE in Coquitlam.
The Larkin House East by Polygon is in the perfect location! You can walk to transit, skytrain, parks, Henderson Mall, recreation, Lafarge Lake, shopping and restaurants and still be in a quiet complex! This 2 bedroom and den unit enjoys overlooking the tranquil inner courtyard and gardens. Kitchen with granite, stainless steel appliances, including a gas stove and breakfast bar. Open floor plan with fireplace and sliders to the large balcony. Master bedroom with walk in closet and 5 piece ensuite. Excellent resort like amenities in the Nakoma Club and 18,000 square foot meeting place with an outdoor pool, hot tub, gymnasium, basketball court, clubhouse, movie screening room and pool table. You will love living here!
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I have sold a property at 4858 PENDER ST in Burnaby.
Prime building lot in North Burnaby's Capitol Hill with back lane access. Perfect location to build your new home, on a cul-de-sac and close to shopping and restaurants in The Heights. Good location for your commute downtown and close to schools. Make an appointment to walk the property.
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I have listed a new property at 4858 PENDER ST in Burnaby.
Prime building lot in North Burnaby's Capitol Hill with back lane access. Perfect location to build your new home, on a cul-de-sac and close to shopping and restaurants in The Heights. Good location for your commute downtown and close to schools. Make an appointment to walk the property.
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I have listed a new property at 1306 200 NEWPORT DR in Port Moody.
Great location for this bright, 2 bedroom and den unit right in Newport Village. Bright and nicely laid out with an open floor plan and plenty of windows to enjoy the views. Beautiful updates including breakfast bar, high end stainless steel appliances, granite counters, white shaker style cabinetry, new vinyl plank flooring & stone fireplace surround, also new wood doors and casings. Large master bedroom with walk-in closet and 3 piece ensuite including huge walk-in shower. Walk to all the shopping and restaurants at Newport and Suter Brook, close to Skytrain and the trails at Inlet Park. Pet friendly building that was re-piped in 2017.
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