加拿大房产投资 › January 2013
Great building lot 3.3 acres or holding property being sold under Assessed value. Property being sold as is as it was a grow op. No occupancy permit
Perfect one bedroom & den & flex space in Cressey's luxury Donovan building close to everything Yaletown has to offer! This unit comes with parking & a huge storage locker & bike storage. The amenities are above & beyond most buildings huge gym yoga room steam sauna, 2 common patios on the 6th floor. Party room is a must see. Geothermal heating, air conditioning inside the unit is extremely luxurious high end appliances, Miele fridge & dishwasher, gas cooktop, slimline hoodfan, convection oven,wood grained cabinetry, polished granite kitchen countertops, S/S & frosted glass accent pantry cabinet. 2-10-10 warranty. Maint fee includes heat, A/C gas & hot water.
Introducing Mandatory Strata Property Depreciation Reports
Building Confidence in Your Buyers It debuted some forty years ago as an affordable path to home ownership. It heralded the benefits of a carefree, low maintenance lifestyle by compartmentalizing vertical airspace. It brought together groups of strangers, buying separate units with individual title while sharing costs on common property for others to maintain. It banished countless lawnmowers into landfills everywhere. Still, we know there would be a dark side to strata property ownership. The infamous leaky condo crisis of the nineties would bring financial hardship to thousands of owners. It would take the Barrett Commission, chaired by former premier Dave Barrett, a new Strata Property Act with mandatory documentation for buyers considering a strata purchase and many years to rebuild confidence in the strata property market as we know it today. In August alone, over 70 percent of sales in Vancouver were in multifamily units, the balance in detached homes.
That’s a market dominance that makes it all the more important for you as REALTORS® to stay on top of the information curve for your clients. New regulations introduced last December by the provincial government are aimed at giving an added layer of confidence to buyers considering a purchase in the strata market. It is now mandatory for all strata properties in B.C. greater than 4 units to have a common property depreciation report completed by December 13, 2013. These depreciation reports are to be used to establish long term planning for common property and assets to determine the following aspects of a strata property:
■The assets owned by the strata corporation
■The condition of those assets ■When assets need replacing ■How much money the strata corporation currently has (the contingency reserve)
■What the replacement cost is likely to be
■The payment plan (three cash flow models projecting 30 year replacement periods) The regulations also set out the necessary qualifications of persons providing the reports, a schedule of updates, disclosure of reports and financial planning to accomplish the necessary results.
A Strata may defer a depreciation report by passing a ¾ majority vote to that effect every 18 months. There are changes in store as well to the Form B, Information Certificate for specific disclosure of parking stall and storage locker designation and allocation effective January 1, 2014. The Executive Director of the Condominium Home Owners Association of B.C., Tony Gioventu, says it’s a positive development for the strata community. “These reports will change how people buy and sell a strata lot, and how people qualify for a mortgage. Buyers will now be able to ask for copies of the depreciation report so they know up front what they are buying into. Mortgage brokers will also want to assess risk when determining eligibility for financing.” This is the kind of good news your prospective buyers are eager to learn from you as their professional REALTOR®. Watch for educational events being held around town by various Divisions of the Real Estate Board of Greater Vancouver. And check out the latest updates on the CHOA website at www.choa.bc.ca as well as the Status of Changes to the Strata Property Act and Regulations here.
The residence at 4707 Belmont Ave. in Vancouver is the most-valuable residence in B.C., according to recent figures from the B.C. Assessment Authority.
The identity of the owner of the most valuable home in British Columbia remains shrouded in secrecy, hidden behind confidentiality agreements and an offshore company.
But when you own one of the best view properties in the province and spend millions of dollars and more than seven years to completely transform it, privacy is important.
For the owner of the 25,000-square-foot mansion at 4707 Belmont Ave. overlooking Spanish Banks in Vancouver, the cost of that privacy can now be pegged at $39.2 million. That’s the value the B.C. Assessment Authority has placed this year on the spectacular and luxurious new home that sits on nearly two acres of gated land with sweeping views of Howe Sound, the city and the North Shore mountains.
The home is located at the start of a relatively short, poorly maintained road without sidewalks that is nonetheless so geographically valuable that no less than nine of the top 25 highest-value homes in B.C. are situated on it.
Architect Russell Hollingsworth designed and built the mansion for the reclusive owner, who reportedly is from Ontario. Hollingsworth said he’s under a confidentiality agreement and can’t disclose anything about the owner, but he said the project was one of the largest he’s undertaken.
Hollingsworth’s company, Rusco Enterprises, is so sought after by the city’s wealthy that five of the 10 most-valuable homes in B.C. were designed and built by him. One of those is Lululemon fashion owner Chip Wilson, whose home at 3085 Point Grey Rd. is the second-most-valuable home in B.C., at $35.2 million. Last year, it was at the top of the assessment authority’s list.
The Belmont mansion includes a 13,534-square-foot lap-pool, a 4,705-square-foot squash court, and a 665-square-foot porch. Overall, the entire project, which took six years to complete, covers nearly 45,000 square feet of development.
Land title records show the property is owned by Pisonii (PTC) Ltd., a company not registered in B.C. When the property was purchased in 2005, it was bought by a related company, Pisonii Ltd., registered in the British Virgin Islands where corporate identities are protected.
Hollingsworth said the family moved into the home last year after the work was completed. He wouldn’t otherwise discuss the improvements to the site.
Peter Ferry, a lawyer with Gowlings in Vancouver, said he represents the owners and they have declined to comment or identify themselves.
“It’s not the royal family, and you are not the paparazzi,” he said. “It is a private residence. It is not something people with their homes want to discuss.
“We’re aware this attracts attention. We’re not trying to be jerks, but ... my instructions are that there is just no comment.”
Tony Rojac, whose company Architectural Stone Masonry of Sumas did much of the stonework, said he also couldn’t disclose the identity of the owner. He said he met the man once during the summer when a barbecue was held to thank everyone who worked on the project.
The property was once owned by high-flying Vancouver businessman Nelson Skalbania.
The other eight owners on Belmont Ave. who have cracked the B.C. Assessment Authority’s top-25 list of most-valued properties include the Khosrowshahi family, founders of FutureShop and Wesbild; investment banker David Sidoo and his wife Manjy; philanthropists Joe and Rosalie Segal; Canaccord Financial founder Peter Brown; Mohammad Mohseni; Lei Qi Zheng; Marcus and Hana Wosk; and an offshore company, Rosy Palace Investments.
The newest buyers on Belmont were the Wosks, the son and daughter-in-law of the late businessman and philanthropist Morris Wosk. Last June, they paid $20 million for a massive two-acre estate at 4851 Belmont Ave., on which sits a 76-year-old mansion.
The list of the top-200 most-valuable homes in B.C. can be found at bcassessment.ca.