Shoe Box

Shoe Box

If Vancouver urbanites are experiencing space withdrawl in their condos, take a look at some of the listings above. These are postings from a local real estate office that I had walked by during a casual stroll around Hong Kong’s Central district.  Imagine living in a 388 square foot walk-up (Yup, no elevator) flat… and all yours for HK$16,000 a month (That’s approx CA$2,300.00).  Or better yet, the “Caine Rd walk-up” with a net square footage of 263 for HK$12,000 (or approx. CA$1,600) a month.  Any takers?  You will be surprised that there are plenty of people who will vie for these places.  Living in a major cosmopolitan city has its price, and for Hong Kong, a city that draws people from all over the world for its commerce, nightlife, food and shopping, living in a shoe box sized place is the...

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Hong Kong Part 1: Time is Money and Money is Time

Hong Kong Part 1: Time is Money and Money is Time

My family and I have been spending the past few weeks in Hong Kong.  It’s our annual trek to this side of the world to manage some business and to also catch up with family and old friends from my wife’s and my Chinese language student days.  Over the next few posts I will have a miniseries on what the Vancouver real estate market can learn from a Hong Kong.   Part 1: Time is Money and Money is Time (Image Credit) Hong Kong real estate never fails to impress me.  More than it being a financial center that houses some of the priciest real estate in the world, what is notable is the local people’s ability to treat real estate simply as a commodity.  The average Hong Kong person understands that while they may have loved the home that they have put up for sale, being emotionally attached to the property and over evaluating it for sentimental reasons will not gain them anything in the bank. Having assets stuck in a listing that is growing stale because the sellers insist that they “can’t just give it away” will ultimately result in long term opportunity costs/loss.  As time is money and money is time, Hong Kongers know that it is better to let their properties sell quickly.  With a timely sale, the cash is immediately free to put into the next pending investment- be that in stocks, other real estate, or even business venture, etc.  If there is any “strategy” in being a winner in the real estate market, it is being able to detach yourself emotionally from your property and viewing real estate as simply a vehicle to make your money work for...

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JUST SOLD – 208 250 Francis Wy – Victoria Hill – The Grove – New Westminster, BC

JUST SOLD – 208 250 Francis Wy – Victoria Hill – The Grove – New Westminster, BC

Address: 208 – 250 Francis Way, New Westminster, BC – VICTORIA HILL – The Grove List Price: $359,900 SOLD PRICE: Contact me for sold price Bedroom: 2 Bathroom: 2 Size: 954sqft Condo Fee: $318/month Built: 2012 Parking: 1 Storage: 1 CLICK HERE FOR VIRTUAL TOUR OF THE LISTING Comments: Move in today! The Grove is a collection of 4 storey buildings situated in Victoria Hill built by the award-winning Onni Group. This spacious 2 bedroom has an open floor plan that is perfect for entertaining. It boasts overheight ceilings, granite counter tops, laminate flooring & GE stainless steel appliances. The Grove is steps away to all your local shops, transportation, Queen’s Park & amenities in the Boiler House. A pleasure to show. View Larger Map View Larger Map Contact Us! We would love to hear from you! Please fill out this form and we will get in touch with you shortly. NameEmailPhoneMessage:...

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Victoria Hill Condo Prices

Free November 2013 Report On Victoria Hill Condo Prices Dear Friend,If you’re curious about what your Victoria Hill condo may be worth, here’s an easy way to find out what homes like yours are selling for in today’s market.   Plus: Get a Free Report with up-to-the-minute statistics based on all the homes for sale and sold in Victoria Hill over the last six months in all price ranges.   To get your Free November 2013 Report on Victoria Hill Condo Prices, just fill out the form below and we’ll send it to you right away. Victoria Hill Condo Prices To receive the info package on City In The Park condo prices please fill out this form. YES! I would like to get a FREE report on Victoria Hill Condo PricesName*FirstLastAddress*City*Postal...

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Home Inspection: Worth the Extra Expense?

Image Credit   It’s interesting to see how often clients are willing to commit themselves to a huge mortgage and front up their entire lifesavings for that down payment, but squirm at the thought of spending a few hundred dollars for a final home inspection.  While the purse strings have understandably tightened, having a home inspection is crucial to making that last check to ensure that your purchase is a smart one.  Should there be any hidden damages or expensive repairs, this is where you may ultimately save yourself some big bucks.   So whether you find your own or use one that your realtor may refer you to, what should you look for in a good home inspector? 1)      Experience- While every average Joe who watches enough HGTV can point out poor tile jobs, unhinged doors, and whatever the unsightly, you need a certified inspector who has experience under his/her belt to see beyond what is cosmetic and spot hidden troubles.  Don’t be afraid to ask your potential home inspector questions: How many years has he/she been doing this?  What did he/she do before becoming a home inspector (Perhaps he/she was a builder and has good knowledge of construction)? 2)      Thoroughness- Do expect a detailed written report at the end of the inspection, and for the inspector to come equipped to do the job properly.  He/she should have basic items like ladder(s) to get to your roof and up into ceilings, a moisture meter to test for potential moisture behind walls, an electrical reader, etc.  After the inspection, should you have any questions, he/she should also be open to answering them and take the time to give you a clear picture of what shape the property is in. I personally like my clients to arrive to the property near the end of the inspection.  This would have given the inspector sufficient time to do his/her due diligence without interruptions, and the client can then have the opportunity to voice any concerns, or go through the report with the inspector in person on the spot. 3)   Integrity- A good home inspector should be forthcoming with any repairs or potential hazards, regardless of how disappointing bad news may be.  He/she shouldn’t be swayed by the seller or the buying and selling realtor(s) to put the sale through.   A home inspection will be able to reveal potential hazards that may not be apparent at first glance.  These can include, but are not limited to, mould/high moisture, lack of insulation and vents, signs of a former grow-op that was not reported, improper electrical lines/water mains/exhausts, or cracks in foundation.  If there are easily repairable items, a good realtor should be able...

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