Friday, October 26, 2012

SOLD! 11411 No. 2 Road 4 bedroom home in Richmond BC

11411 No. 2 Road, Richmond BC V7E 2E6, Canada

House | Townhouse | Apartments/Condos | Real Estate
Richmond | Vancouver | Ladner | Tsawwassen 

Please visit or for more information.
Call Michael Cowling at 604-276-2335 or email him at for showings.

Sub Area: Westwind
MLS® No. V932040
Bedrooms: 4
Bathrooms: 2
Total sq.ft.: 1,820
Lot Size: 7,201

Build Big, Move-in or Rent and hold. Either way this is a Prestigious Westwind Area property. This 60 by 120 = 7201 Sqft. lot with a 1824 sqft, 4 bedroom, 2 bathroom house. Close to amenities; walking/biking distance to Steveston Village and trails; near bus route. Property has a west backyard, is fully landscaped and includes a covered deck; hot tub; wired workshop/shed; new concrete in the rear with a BBQ pad. Other upgrades: New vinyl windows 2010, new patio 2009, new hot water tank 2008, wood fireplace and wood stove in the family room, security system and many more features. Westwind and McKinney school catchment. Priced below Government Assessment.

RE/MAX Michael Cowling And Associates Realty - Serving Richmond, Vancouver, and Ladner

Wednesday, October 24, 2012

Some Fast Facts About Richmond

Richmond was incorporated on November 10, 1879 and designated as a city on December 3, 1990. Historical industries include fishing, salmon canning, boat building, agriculture - dairy and berry production, aviation, export, and service. The founding cultures are First Nations, British European, Japanese, and Chinese.

The model of government in Richmond consists the Mayor and eight Councillors elected at large. The major awards won by city are Nations in Bloom 1999; Communities in Bloom, Canada - 1998; National; and Environment Award for Terra Nova Rural Park, 2008. Richmond’s twinning cities are Wakayama, Japan and Pierrefont, Quebec, Canada.

Richmond’s land area is 129 sq. kilometers (49.8 sq. miles) with latitude of N 49º 10’ and longitude of W 123º 8’. There are 17 islands making up the City of Richmond. Richmond is located on the west coast of Canada between two arms of the Fraser River. The area enjoys 1,500 acres (607.5 ha) designated natural areas and parks.  A transportation hub which includes The Vancouver International Airport, the sea ports located in the city are the Vancouver Fraser Port and Steveston Fishing Port.

Richmond average temperature in January is 2.5ºC and average temperature in July is 17.3ºC.
The average annual rainfall is 1,112.6 mm.

Richmond population was 199,141 in 2011 (BC Stats estimate) with a projected population of 225,000 in 2021 (Metro Vancouver estimate). The average annual population growth rate from 2006-2011 is 1.7%.
City population as a percentage of Metro Vancouver region is 8.3%.

Immigrants as a percentage of population were 57.4% as of May 2006. Between May 2001 and May 2006, the number of immigrants who came to Richmond is 18,780 (est.). The three leading countries of birth for recent immigrants are China (People’s Republic of), Philippines and Hong Kong.

The percentage of population with University Degree is 26.0%.

Jobs and Industry
There is an estimate of 125,000 jobs in Richmond. The city jobs as percentage of provincial jobs is 7.4%. The total labour force from age 15+ is 92,470, where the percentage of this population group in labour market is 63.1%. There were 12,684 business licences issued in 2009. Major industries in Richmond consist of high tech, retail, aviation, transportation, tourism, service, manufacturing, and agriculture. Cranberries, blueberries, hay, and field vegetables are the major agricultural products in the city. According to the 2006 Census, average family income in 2005 was $74,790 and median family income in 2005 is $67,627. Business Associations include Richmond Chamber of Commerce, and Richmond Asia Pacific Business Association (RAPBA).

Recreation and Culture
Libraries, gateway theatre, arts centre, heritage sites, Richmond Art Gallery -
contemporary art gallery, museum, public art are the cultural amenities in the city. Some of the recreation facilities include 100 parks with 1,500 acres of area/open space, including the 320 acre Iona Island Park.

The area enjoys an 80 km system of interconnecting dyke trails, cycling routes and walkways; eight community centres; a seniors centre; cultural centre; fitness centre; two (2) arenas; eight ice rinks; two indoor aquatic centres; two outdoor pools. There are over 200 volunteer community organizations; 50 advisory committees and task forces; partnerships with business and community groups for community involvement. The major cultural events are tall ships 2002, annual Maritime Festival, Winter Fest, Music Fest, multicultural festivals, and choral concerts.

Richmond’s major tourist attractions are Steveston historic fishing village; Britannia Heritage Shipyard National Historic Site; Gulf of Georgia Cannery National Historic Site; Richmond Olympic Oval; International Buddhist Society Temple; Richmond Nature Park; London Heritage Farm, Asian shopping malls; and world renowned restaurants. The number of airport passengers annually is 17.9 million (2008). Richmond represents ⅓ of Vancouver’s bed base with 26 hotels and 4,700 hotel rooms.

Source: City of Richmond

Tuesday, October 23, 2012

Bank of Canada Interest Rate Announcement - October 23, 2012

The Bank of Canada once again opted to hold its target for the overnight rate at 1 per cent this morning. Interest rates have been held constant for over two years, the longest such period since the 1950s.  The Bank somewhat tempered its bias for higher future interest rates, including a softer statement regarding the appropriateness of a gradual withdrawal of monetary stimulus as excess supply in the economy is absorbed. In a bit of a surprise, the Bank actually raised its forecast for the growth in the Canadian economy this year to 2.2 per cent, but kept its 2013 forecast at 2.3 per cent growth. The Bank judges that at that pace of growth, the Canadian economy will return to full capacity by the end of 2013. 

It is our view that monetary policy at the Bank of Canada will continue to be constrained by external events in the global economy and household debt growth at home. While the Bank's preference for tighter policy is clear, it is difficult to make a case for higher interest rates when core inflation is below the Bank's 2 per cent target and already slow economic growth is threatened by global uncertainty. Therefore, we are forecasting that the Bank of Canada will hold its target overnight rate at 1 per cent until mid-to-late 2013 when, conditioned on an improved global economic outlook,  it may test the water with a 25 basis point rate increase. 

Source British Columbia Real Restate Association. 

Thursday, October 11, 2012

SOLD! #107 - 8975 Jones Road 2 Bedroom Condo in Richmond BC

#107 - 8975 Jones Road Richmond BC, V6Y 3Y7, Canada

House | Townhouse | Apartments/Condos | Real Estate
Richmond | Vancouver | Ladner | Tsawwassen 

Thank you for visiting our blog. We specialize in the purchase and sale of residential housing in Richmond, British Columbia. Whether you are relocating within Richmond, searching for an investment property, or leaving Richmond for another area, my experience can help you make the right decisions. Please contact us or take your time exploring my website and make use of the resources available to you.

Please visit: or 
for more information.
Call Michael Cowling at 604-276-2335 or email him at for showings.

Property Information:
Sub Area: Brighouse South
MLS® No. V945575
Bedrooms: 2
Bathrooms: 2
Total sq.ft.: 1,242

REGENT'S GATE by Polygon 2 bed 2 bath on south east corner with huge 600+ square foot balcony. Large kitchen with eating area, newer cabinets and countertops, crown moldings, laminate flooring, gas fireplace, in side by side suite laundry, huge ensuite with soaker tub, separate shower and 2 sinks. Large walk-in closet. Tones of storage and extra storage locker with secured parking. Gated adult 19+ community with extensive facilities including a pub, pool table darts, activity room, exercise room, Jacuzzi, two guest suites, workshop, lounge, sunroom & outdoor patios. Pet friendly. Strata Fee includes heat, hot water, gas & sewer. Building has been rain screened and has a newer roof.
RE/MAX Michael Cowling And Associates Realty - Serving Richmond, Vancouver, Ladner, and Tsawwassen


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Friday, October 5, 2012

Grant for new secondary or recreational homes available

If your you buy a new or substantially renovated secondary or recreational home in BC, but outside of Greater Vancouver or Victoria, before April 1, 2013, they may qualify for a provincial grant for the Harmonized Sales Tax (HST).

The grant for new secondary or recreational housing is directly administered by the BC Ministry of Finance.

This grant should not be confused with the BC New Housing Rebate available for new residential homes bought as a primary residence, and administered by Canada Revenue Agency (CRA).

The grant for new secondary or recreation housing is 71.43% of the provincial portion of the HST paid on the new home up to a maximum rebate of $42,500. Secondary or recreational homes priced at $850,000 or more are eligible for a flat grant of $42,500.

To be eligible, the secondary or recreational home must be:
  • a new home (detached, semi-detached, duplex, condominium, townhouse) constructed or substantially renovated (more than 90%) together with land bought from a builder;
  • a new home together with leased land;
  • a new mobile home or float home;
  • a new home bought through shares in a housing cooperative; or
  • a new home constructed or substantially renovated (more than 90%) by the owner builder.
To be eligible, buyers must meet all of the following conditions:
  • the HST was paid on or after April 1, 2012 and before April 1, 2013 on the purchase of a new or substantially renovated house, or to build or substantially renovate a house;
  • the buyer or a family member will use the house as a secondary or recreational residence;
  • the home is located outside the Capital Regional District and the Greater Vancouver Regional District;
  • the buyer (or any other co-owners) or family are the first occupants of the home, or in the case of a substantial renovation, are the first occupants after the renovation; and
  • the home will not be used for commercial purposes (vacation rentals, bed & breakfast, small business) by an owner who is an HST registrant claiming input tax credits for some or all of the HST paid on the home.
In addition to the general qualifications above, buyers must meet other conditions depending on the type of home and whether the client buys or builds the house alone or with others. For example, if two or more individuals buy a new secondary or recreational home, or build or substantially renovate a home, each buyer must meet all eligibility conditions, but only one may apply for the grant as the claimant.

You do not have to be a BC resident to be eligible for the grant.

Buyers of secondary or recreational homes must complete an application form and provide supporting documents within six months from the date the HST was paid and before October 1, 2013 (whichever date is earliest).

To learn more, contact: 1.877.388.4440 or visit and in the search box type in HST Notice #13. For application forms, in the search box type in “grant new secondary residence.”

Source: Real Estate Board of Greater Vancouver, Ministry of Finance

Wednesday, October 3, 2012

Alternative dispute resolution for stratas coming

Resolving strata disputes will soon become faster, more accessible and more affordable thanks to recent provincial legislation.

Bill 44: The Civil Resolution Tribunal Act, which passed earlier this year, creates an independent body, the Civil Resolution Tribunal, which will provide dispute resolution tools as an alternative to going to court. The tribunal is expected to be operational by 2014.

This is welcome news for the Board, which together with BC Real Estate Association (BCREA) had, for many years, voiced concerns about strata property legislation.

In 2008, BCREA invited member Boards and REALTORSÒ to provide feedback. A key concern from REGBV members was the strata dispute resolution process, which members believed could benefit from a legislated mediation component.

BCREA advocated for this change and in 2011 reiterated the industry’s position during the province’s 2011 consultation process on strata dispute resolution.

Who can access tribunal services?
Strata corporations, strata owners and tenants will be able to access tribunal services
  • If two individuals are in a dispute, both must need to agree to participate in the tribunal.
  • If a strata owner or a tenant decides to use tribunal services, the affected strata corporation must participate.
The tribunal will have the authority to handle strata disputes between strata property owners and strata corporations, including:
  • Non-payment of monthly strata fees or fines;
  • Unfair actions by the strata corporation or by those owning more than half of the strata lots in a complex;
  • Uneven, arbitrary or non-enforcement of strata bylaws (such as smoking, noise, pets, parking, rentals);
  • Issues of financial responsibility for repairs and the choice of bids for services;
  • Irregularities in the conduct of meetings, voting, minutes or other matters;
  • Interpretation of the legislation, regulations or bylaws; and
  • Issues regarding common property.
The tribunal will not decide matters that affect land, including:
  • Ordering the sale of a strata lot;
  • Court orders respecting rebuilding damaged real property;
  • Dealing with developers and phased strata plans; or
  • Determining each owner’s per cent share in the strata complex (the “Schedule of Unit Entitlement”).
These matters will continue to be heard in the BC Supreme Court, as will other matters, including:
  • The appointment of an administrator to run the strata corporation;
  • Orders vesting authority in a liquidator’
  • Applications to wind up a strata corporation;
  • Allegations of conflicts of interest by council members; or
  • Appointment of voters when there is no person to vote in respect of a strata lot.
How will tribunal services be accessed?
                The tribunal services will be available online 24/7. Assistance will also be offered by phone, mail or even in person. Disputes are expected to be resolved within 60 days, compared to 12 to 18 months for the court process.

The tribunal will have five stages
Stage 1 – Self-Help: Information and tools will be available online 24/7 to help parties resolve disputes.

Stage 2 – Online Party-to-Party Negotiations: If Stage 1 fails; parties can go through a guided negotiation monitored by tribunal staff.

Stage 3 – Facilitated Settlement: Where an agreement is still not reached, parties can pay applicable fees and request active facilitation by the tribunal involving mediation or other dispute resolution processes. All parties must consent.

Stage 4 – Case management Preparation: A case manager will facilitate mediation and explore options for settlement.

Stage 5 – Adjudication: Any dispute not settled by agreement will be heard by an adjudicator with the authority to decide outcome and make binding decisions.
Fees for tribunal resolution of a dispute have not been finalized.

Learn More Information on strata property and the tribunal available at:

Source REBGV