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Why are so many Canadians moving close to starbucks?

Recent data suggests moving close to Starbucks increases home values

Recent data from Zillow reveals that homes close to Starbucks cafes gain value much more rapidly than the average residential property.

This conclusion was based on housing statistics that go back to 1997. Compared to other houses, the resale values of homes around Starbucks locations went up about 31 percent faster. This means that a $200,000 property near the cafe probably gained $62,000 more than it would have in a different locale.

Move close to a Starbucks and increase your home’s value 31% faster

The data also shows that Starbucks triggers higher real estate values rather than following them. Furthermore, it indicates that the owners of homes nearest to the cafe benefit the most. After each new coffee shop was constructed, these properties generally experienced the largest and most rapid increases in value.

People like to move close to safe areas

It is not entirely clear why this happens, but a few feasible explanations can be found. Most people prefer moving to safe areas; Starbucks often moves it’s cates to places with comparatively little theft and vandalism. Some homebuyers also see these cafes as a sign of gentrification.
Another factor is that more and more Canadians prefer to live near eateries and shops. The National Association of Realtors recently conducted a survey on housing preferences. It found that six out of 10 people want to live in communities with nearby businesses that they can reach on foot.

Moving to a community rather than just a home

The NAR survey also revealed that the majority believe that easy access to parks, restaurants and stores holds more importance than owning a large lawn or house. Many people favor moving to areas with public transit, bike lanes and affordable housing. Starbucks coffee shops can often be found in areas with these amenities.

The nature of rising resale values also points to a general shift in the types of communities that Canadians prefer to live in. As homeowners grow weary of long commutes and high automotive expenses, polls show that fewer people favor strictly residential suburbs and rural housing developments.

The bottom line is that a home buyer needs to carefully evaluate the convenience and practicality of a neighborhood before moving there. While some Canadians are still content to travel long distances to everyday destinations, the majority of people would prefer to move to land with extra acreage and a nearby Starbucks.

Million Dollar Homes Left To Decay In Vancouver

Right now there are several million dollar homes on the west side of Vancouver that have been left to decay. The owners have simply left the homes with no plans to come back. Some believe its because they want to cash in on a real estate market that is now getting attention from all over the world. The original article was created by the national post.

Just last month there were 20 residents who decided to come forth and start posting information about what’s going on in their neighborhood on Beautiful Empty Homes of Vancouver. Currently dozens of empty homes have been documented on the site. Neighbors are becoming more and more irate as some of the homes have been empty for five years.

One of the most extreme cases is a home located in Shaughnessy. This home has decayed to the point where coyotes now call it home. Many elderly residents say they don’t feel safe in the area anymore.

The biggest concern for most is the fact the empty homes are bringing the community down. No one wants to live in a city with so many abandoned homes. Because of this James MacDonald, an urban planner, and a group of other people are asking that the Vancouver Charter be adjusted.

They want it to now include a vacant property tax on homes that are just sitting there with no tenants. They want the tax to be high enough that homeowners will ensure the home is occupied. They also want a 15 to 20 percent surcharge on home prices for non resident buyers. The problem is it can be very difficult to determine whether or not a home is owned by a Canadian resident.

While vacant homes is a contributing factor to the decaying homes, its not the only factor. Unfortunately this could be the new normal for the area. This is because Vancouver is becoming more of a resort city. People from all over the world are coming to the city to invest in homes. However, very few of them actually live in the homes. Check out this fantastic article outlining how the Chinese are changing the housing market in Vancouver

Regardless of why the homes in the area are vacant, its time for all Vancouverites to come together and figure out a solution to this problem. Instead of squandering it away we have to figure out a way to preserve it and build upon it.

For a comprehensive look at articles outlining the good, the bad and the ugly in Canadian real estate – we welcome you to check out our Scoop It account. We are constantly finding articles from across the internet to share.

Thinking of Moving to Vancouver? Think again…

The Cost Of Building Permits In The City Of Vancouver Are At An All Time High

Those considering long distance moving to  Vancouver and to call  it home, may want to reconsider. In the first six months of 2014 the city of Vancouver issued over $1 billion in building permits. This is the highest since before the recession took place. For three straight years construction has been leading the way for the first six months of all three years. It has topped the billion dollar mark each time.

In the first 6 months of this year the value of building permits has increased by 6.7 percent from what it was during the same time last year. Anytime an economy grows at such a strong pace it is a very exciting thing – but makes it difficult for house buyers to jump in.

According to Vancouver movers, EasyCdnMoving, Low taxes, the big pool of highly skilled workers, less obstacles to secure a permit and the amount of new rental housing construction taking place in the area. The Vancouver Economic Action Strategy works to do a variety of different things. The first one is to create thousands of new jobs for the people of Vancouver. The second is to create affordable housing.

To do this they have to learn how to work with different companies and bring in new business. The initiatives the city has in place are helping to do just that. The other two things the Vancouver Economic Action Strategy work to do are make the city more competitive and build a foundation for the economy to continue to grow.

If you look back you will see in 2008 the building permit values for the first six months of the year were $924.9 million. It is now $1.12 billion. That’s a huge jump in just 6 short years.

There are two key developments that contributed to these values. The new two tower building in downtown which was valued at $87 million and the new 195 unit on Main St. that was valued at $27 million. Based on the values of building permits going up every year for the last 6 years, I would say moving to Vancouver is going to be tougher than ever.


Is Vancouver’s Housing Market Taking a Downward Turn?

With the hustle and bustle of increased home sales in the Vancouver real estate market in recent years, one has to wonder if the market will see a downward trend. Starting in 2012, sales of new homes in the Vancouver area began falling; an indicator that the market was in transition. In addition, reports from late 2013 indicated that new job growth had stalled as a result of a weaker local economy. Coupled with the increased interest rates and stricter lending rules and regulations from mortgage brokers, the upside to buying a home a decade ago has become the downside to owning a home in today’s economy.
In consideration of the transition of Vancouver’s housing market is the issue of foreign investors. In the last twenty years, the influx of foreign investors has pushed the local housing market excessively high. Many locals feel the real estate in Vancouver is overvalued due to the foreign investment properties. As a result of all of this activity, the government opted to shutdown on the immigrant investor program. This may play a part in slowing down the real estate market. However, recent news indicates that the government is looking at reintroducing the program, but with a modified structure.
In addition to foreign investors, one has to take into account the very nature of Vancouver when considering real estate. The city has historically been one of the most expensive housing markets in Canada. The high cost of housing in Vancouver is in part due to the location of the city itself. The geography of the area offers physical limitations on availability for land to build housing. Condominium sales increased as a result of developers building up – and many people chose to move into these condominiums, even downsizing, because of the changes in the economy and their lifestyle considerations. But new mortgage rules could hamper condo construction by as much as one-half, starting this year. The Canada Revenue Agency has been investigating condo purchases and auditing and fining purchases that were made and then flipped – essentially penalizing investors for the HST rebate portion of their purchase because no one moved in and the property was not rented out.
As mortgage rates go up, the real estate prices in Vancouver may see a decline. This softening could potentially result in a balancing, or correction, of the local real estate market in Vancouver. This would result in a more even market in 2014, as opposed to the extreme, unbalanced market of mid-2013 when the housing market was volatile. Overall, growth has remained moderate in the Vancouver market, with a recent Royal LePage report indicating an increase of anywhere from two-point-three percent to four percent, year over year, for condominiums and detached bungalows, respectively. Real estate prices are projected to rise four-point-four percent in 2014 in the Vancouver area. But is this the market growth Vancouver is accustomed to? Only time will tell.

Is Justin Trudeau Promoting Marijuana To Kids?

As with all things in politics there will always be some sort of attack that is completely untrue. Vancouver South Conservative MP Wai Young is no different. She decided to send out a flyer claiming Liberal leader Justin Trudeau thinks its okay for children to smoke pot.

And while the Liberal party is for legalizing marijuana, they are also for educating the youth and helping them better understand the health risks associated with using this type of substance. This is clearly stated in the Liberal party policy. And according to them, the flyer put out by Wai Young is completely false and full of misleading information.

As a matter of fact, if you do a little research you will see Justin Trudeau has been very clear about where he stands when it comes to children and marijuana. He doesn’t want children to be able to easily access the substance. Wai Young knows this and its sad she is choosing to act in such an immature way.

In the flyer she sent out she claims Justin Trudeau has gone out to schools and promoted legalizing marijuana to the children. Again, this is completely false. These accusations actually come from Justice Minister Peter Mackay. This coming after Trudeau visited a school in Brandon, Manitoba First Nations in late 2013.

During this visit a student asked Trudeau about the policy in regards to marijuana. His response was that marijuana is dangerous and not something young people should mess around with. He said their minds are still developing and that process can be hindered by the use of marijuana. He also said that’s why he wants pot to be regulated so children won’t be able to easily access it.

Even though a reporter confirmed what Trudeau said, Justice Minister Peter Mackay still made it seem like he got in front of the children and encouraged them to use pot. This was not the case at all. If you look over the flyer and then do a little fact checking you too will see it is full of false, misleading statements that don’t have an ounce of truth to them.