Archive for November, 2006

Using your RRSP to buy a home is not a good idea

Monday, November 6th, 2006

Chris Carter
Province

Dear Chris:

I’m about to buy a condo. If I dip into my RRSP and take out a Home Buyers Plan withdrawal, I’d be able to make more than a 25-per-cent down payment to reduce my mortgage payments. Is this a good idea?

— Christy, Port Moody

Dear Christy:

The pros and cons of building equity in your home versus your RRSP is a common debate for individuals and financial planners. Before you raid your retirement nest egg, here are some facts to consider.

When you access funds from your RRSP using the Home Buyers Plan, you are effectively borrowing from your RRSP. Like any other loan, the HBP withdrawal must be paid back and Ottawa requires you to pay back a minimum one-15th of the original loan per year, starting two years after taking the money out.

Once you add this HBP repayment on top of the slightly reduced mortgage payment, your monthly outlay will be at least as much as the original mortgage payment would have been, and probably more.

The main drawback to raiding your RRSP now will be the damaging impact the loan will have on your fund’s value at retirement.

As an example, if you invest to earn a compound annual return of seven per cent over 30 years, pulling $20,000 out and repaying the HBP over the mandated 15 years would reduce your plan’s value at retirement by more than $60,000.

For those homebuyers with no alternative to the Home Buyers Plan, conceding the future growth of their retirement savings might be a trade-off worth considering.

If you’ve already managed to save your down payment, the odds are stacked in favour of maintaining the RRSP.

© The Vancouver Province 2006

 

House sales slow, listings rise — but most experts not worried

Sunday, November 5th, 2006

Derrick Penner
Sun

The descent from real estate market peaks in the Lower Mainland continued in October with lower year-over-year sales, higher listings and some lower prices.

Greater Vancouver’s real estate board reported 2,722 multiple-listing-service sales in October, which was higher than September, but a 12.2-per-cent drop from October 2005.

New listings in Greater Vancouver were up 20.3 per cent to 4,862 units compared with the same month a year ago.

And nine Greater Vancouver communities recorded median selling prices that were lower than September’s median prices, though still significantly higher when measured year-over-year.

On Vancouver’s east side, for instance, the median detached house price was $584,250, down 5.8 per cent from September. In Burnaby, the $620,000 median house price represented a 5.1 per-cent decrease.

In the Fraser Valley, MLS sales were down 28 per cent from October a year ago at 1,287 transactions. The Fraser Valley’s inventory of listings increased 27 per cent to 5,644 units compared with October 2005.

In October, average Fraser Valley single-family home prices dipped 1.3 per cent to $487,238 compared with September. However, year-over-year, prices remain between 13 per cent and 28 per cent above October 2005.

Sebastien Lavoie, an economist with TD Bank Financial Group, said price shifts are a good sign in Lower Mainland markets, which the bank has characterized as at risk of becoming overvalued.

“That just lowers the risk of any major cooling off of the housing market.”

Other analysts, however, are wary of reading too much into variations between month-to-month price changes.

Tsur Somerville, director of the centre for urban economics and real estate at the University of B.C.’s Sauder School of Business, said there weren’t enough transactions in the communities that saw median price declines to make conclusions about trends.

Somerville added that month-to-month median price shifts can be skewed by the types of properties sold during the month.

If fewer high-priced homes sell in a month, that will pull the median price down. And Somerville said typically, in a market slowdown the luxury end of the market suffers the most volatility in both sales and price.

Somerville noted that B.C.’s employment situation is still strong and mortgage rates are still favourable, which help support the housing market.

It is now clear that Lower Mainland markets are slowing down, but “[there aren’t] the conditions out there that would presage a price collapse,” he said.

Cameron Muir, a market analyst with Canada Mortgage and Housing Corp., said current high prices in the Lower Mainland are cutting into housing demand.

Muir added that the current provincial economic upswing, with job growth, increasing wages and positive population migration, is helping to offset a housing downturn.

“Those are very strong [economic] fundamentals,” Muir said. “The only fundamental not working is [housing] prices.”

Rick Valouche, president of the Real Estate Board of Greater Vancouver, said he doesn’t believe there has been any moderating of prices. Valouche said there are still too many bidding wars happening and there is still too much demand relative to the number of listings available.

Valouche added that he would consider 1,500-1,600 sales per month on an inventory of 18,000 listings to be a balanced market for Greater Vancouver. Active listings, he said, have just reached over 14,000 in recent months.

Dave Rishel, president of the Fraser Valley Real Estate Board, was wary of using October’s dip in average prices from September as evidence of anything. However, he added that prices may be beginning to adjust to the changing demand and supply situation

“We always anticipate that markets will have their ups and downs and periods of adjustment,” Rishel said. “This is just one of those adjustment periods.”

© The Vancouver Sun 2006

WIFI Cafe’s – easy for thieves to steal passwords & info from secure public wireless zones

Sunday, November 5th, 2006

NET SECURITY I That mysterious someone can steal your personal data by duplicating the networks you find at local hot spots

Gillian Shaw
Sun

Ryan Purita of Totally Connected Security says it’s easy for thieves to steal passwords and confidential information in public wireless zones. Photograph by : Peter Battistoni, Vancouver Sun

If you use your laptop at your local coffee shop to catch up on banking or shopping online, your financial secrets could be going straight to the latte-sipper with a laptop open at the next table.

“Give me an encrypted wireless network and in 10 minutes I will give you the password,” said Ryan Purita, a senior security consultant with Totally Connected Security.

Purita is among security experts who warn wireless hotspots can be minefields for unsuspecting computer users. Even legitimate security-enabled sites can be cracked with hacker software that’s freely available on the Internet.

Free short-range wireless Internet access is sweeping across North American cities, but it’s coming with a security cost. That’s the risk of signing on to a free WiFi network or one purporting to be from a legitimate carrier and instead ending up on a so-called “evil twin” network where identity thieves can pick off personal data.

Combine that with the risk of running into a “man-in-the-middle” wireless scam and enterprising identity thieves can turn wireless hotspots into their own little profit-making centres.

“Sharing information via the Internet is a positive thing and doing so can reap a great deal of positive benefits,” said Staff Sergeant Bruce Imrie, Pacific regional coordinator for the RCMP’s integrated technological crime unit. “But people need to be aware there are also risks involved.

“Many people consider WEP or wireless encryption programs to be secure when in fact they are relatively easily broken.”

WEP, a wireless encryption protocol for wireless local area networks, is typically used on wireless networks identified as “security enabled” and requires a WEP key to sign on. There is more stringent security available; including WPA2, for WiFi Protected Access 2 but WEP is still the most common.

Punching in a WEP key or a password can lull users into thinking their data transmissions are safe.

That isn’t necessarily the case.

“Technology is always one step behind the bad guys,” said Christopher Faulkner, president and chief executive of CI Host, a Web hosting and data management centre with 300,000 customers around the globe. “WEP is junk encryption. … All you have to do is intercept one packet and you know the password.”

That leaves security experts warning users to limit their public wireless computing to non-critical tasks such as Web surfing or checking e-mail that they wouldn’t mind sharing with strangers.

“People should be aware that what they are doing could be captured by a third party,” said Faulkner. “They have to ask themselves, would it be okay if they saw it published in a newspaper, or a copy given to their wife, or would their banker approve of them sending those confidential documents where they could be read by a third party.

“It is like having someone standing over your shoulder looking at your computer and they could be yards away from you in the coffee shop.”

Faulkner points out that since wireless networks don’t have to have unique names, identity thieves can easily masquerade as legitimate WiFi providers.

“It is no wonder hackers set up evil twins and name them T-Mobile or Linksys or D-Link,” said Faulkner. “If you are a hacker and you want to broadcast an evil twin, you’ll mimic a legitimate or real SSID [the public name of a wireless network].”

So if your home wireless network is called Linksys, your computer will log on if it finds a network of the same name, whether that’s at home, at the local coffee shop or in an airport in another country.

“You could think you are on a trusted network and that Linksys could be a rogue access point with somebody logging everything you are typing in your keyboard,” said Faulkner.

An “evil twin” operates by duplicating a legitimate WiFi hotspot provider. The hacker gives the network a feasible-sounding name and a log in page that looks like the real thing. When you type in the required password or credit card information, the hacker has scored and likely you’ll find the wireless connection ends there.

In the case of the “man-in-the-middle” scheme. a hacker can get between your computer and the legitimate wireless access point, scooping all the information that you transmit while you are online.

“He can log into a real access point and pay five bucks or whatever it is to get a day pass, then he turns on Internet sharing on his laptop,”Faulkner said. “He has a $50 wireless access point and he broadcasts an SSID called Rogers, or he could call it ‘free Starbucks Internet.’

“Your computer scans and says, ‘free Starbucks Internet — cool,’ and it will connect.”

Meanwhile, everything you punch into your computer is being logged by the interceptor so passwords, credit card information or inflammatory e-mails about your boss are available for the hacker’s perusal.

“Using your laptop in public over a wireless connection, particularly when it is free, is the same as letting someone look over your shoulder while you are punching in your banking PIN,” said Ron O’Brien, senior security analyst for North America for Sophos, an Internet security company. “Keep in mind if you are using your laptop in a public place over what may not be a secure network, do not conduct any kind of transaction where the information you are exchanging with a third party may fall into the wrong hands.”

It’s not only free wireless access that poses the risks. Even if you have a paid account with a WiFi provider for its hotspots, you could fall victim to a pirate of the airwaves. There are measures such as VPNs — virtual private networks — that safeguard wireless computing but for the most part these are steps taken by corporations, not consumers just hoping to do a little Christmas shopping while they have a coffee.

“We are seeing an increase in this type of incident,” Telus spokesman Shawn Hall said of schemes such as evil twin networks and man-in-the-middle interceptions.

Hall said people often let their computers default to the strongest wireless signal and that may not necessarily be the one they trust, or a hacker could fake a network to fool users.

“If you are not 100-per-cent confident about what you are doing, don’t do anything sensitive like banking or business,” said Hall. “Don’t just do that in a random cafe, do that somewhere you trust on a network you know.”

Michael Kuhlmann is a co-founder of FatPort who left that wireless hotspot company to start another company, Colony Networks, that delivers managed wireless services to small and mid-sized customers. He said he has been using public access points for five years and has never installed extra security software on his laptop.

“There is no question people should be vigilant,” he said. “This could be on the rise, especially because there are more wireless users.

“I do think that the future of these networks will include some sort of over-the-air security, but the man-in-the-middle attacks, the evil twin attacks are really tricky to safeguard against.”

© The Vancouver Sun 2006

 

Housing advocate helps the homeless find their way home

Sunday, November 5th, 2006

Pete McMartin
Sun

Judy Graves is the housing advocate for the City of Vancouver, and she remembers the exact year it all started to happen.

It was 1995.

For the first time, she noticed people sleeping on the streets. They had begun to drift in to the city’s doorways, like leaves.

“Then, in 1996, I started to get calls from the media asking me how many homeless there were in Vancouver. I had no idea. So I started going out into the streets to find out for myself.”

She did this on her own time. She haunted street corners and back lanes. She did counts, like a birder. And she would try to talk to the people she saw. She was breaking through the stigma of homelessness, and all the easy generalizations that came with it, and trying to find the human being underneath.

“People say it’s a bunch of lazy bums who have addictions, but the actual equation to homelessness is really quite simple,” Graves said. “There will be an increase in property values and a decrease in incomes. So we would wind up with more people, especially young people, falling through the cracks.”

And often — to put it indelicately — they would be damaged goods. The sexually abused. The children of addicts. Trauma victims. Fetal alcohol syndrome sufferers. Schizophrenics. The grab-bag of dysfunction.

Graves noticed something else about them.

Most had little or no income. Few were availing themselves of welfare.

They didn’t go on welfare, they told Graves, because they couldn’t negotiate their way through the system.

For them, the system had become a barrier, not a hand up. To flush out the welfare fraud of the 1980s and early 1990s, the NDP provincial government of the day had tightened up the application process. Identification requirements became more stringent. Past employment records had to be produced.

When the Liberals came to power, the cuts continued. Several welfare offices were closed. Caseloads increased. Wait times, even for emergency cases, stretched to weeks.

The number of people applying for welfare plummeted — not because of the economy, Graves said, because by then the truly employable had already found jobs — but because the people who needed it most, that underclass she was seeing on the streets, did not have the skills to make their way through the system.

It was too confusing, too dependent on the strict observance of paperwork. Many were illiterate. Many had trouble keeping appointments because, living out on the streets, they had lost their sense of time.

Over-all, these people who were in chronic need, Graves said, were a very small percentage of the population. But a host of effects made them more and more visible — deinstitutionalization, a drug epidemic, less social housing, rising rents, fewer rooms. So when the people affected by these problems hit the welfare wall, they began to back up on to the streets.

So Graves came up with an idea.

She designed an outreach program.

Beginning in the spring of 2005, she went out early in the morning — before the homeless had roused themselves and moved on, Graves said — picked out someone on the street and asked that person if she could help him or her get welfare and a place to sleep.

She would then take the person to a welfare office at 8 a.m. — an hour before the official 9 a.m. opening and the daily rush — and with the help of a welfare worker who had volunteered to come in early, process a welfare application right then and there. Within the day, her client would have a welfare cheque and a room of his or her own.

The program, called the Vancouver Homeless Outreach Project, was a joint effort between the City and the province. It worked so well that this spring, the provincial government funded it with $300,000 more to keep it running for another year.

There are now 10 two-man teams around the province, with four of these teams in Vancouver — two in the Downtown Eastside, one in Downtown South and one in Mt. Pleasant. Each team brings in four people a week to be processed.

But there are large numbers of homeless, Graves said, in Kitsilano, Point Grey, the Commercial Drive and Joyce Street areas and in northeast Vancouver. The homeless there, she said, are essentially out of luck.

“In essence, a homeless person picked by one of the Outreach teams has won the lottery. And you have to ask yourself, why is that? Why is it that a homeless person has to depend on pure luck to get a welfare cheque and a safe place to sleep. Every human being, and I don’t care who they are, deserves a safe place to sleep.”

All of this reeks of a great irony, of course. In its continued funding of the outreach project, the provincial government has not only acknowledged the project’s effectiveness, it has tacitly recognized the dysfunction of its own welfare system. Otherwise, why would it need Graves’ program?

The welfare offices do have some outreach workers of their own — in hospitals, for example, and drug clinics — but not nearly so many that they can make a dent in the growing numbers of homeless.

If Judy Graves proved anything, it wasn’t that a single person could make a difference.

It was that an entire welfare system couldn’t make a difference, and that that system needs to be changed.

© The Vancouver Sun 2006

 

A new place to Dwell near Main St.

Sunday, November 5th, 2006

FUNKY, FUNCTIONAL: Imaginative use of space makes for great liveability in hot location

Jeani Read
Province

Storage space, work station, laundry, coat closet and pantry all close away behind a smooth sheet of cabinetry that tricks the eye. Photograph by : Wayne Leidenfrost, The Province

Translucent sliding panels and mirrors brighten the bedroom. Photograph by : Wayne Leidenfrost, The Province

Urban spaces in Vancouver just keep getting cooler and cooler — and more imaginative.

Take Dwell, the new condo development at the heart of this quickly transforming Main Street neighbourhood. Here, close quarters are themselves being transformed into really functional homes with lots of storage. Or, let’s say, more storage.

Dwell has twice the storage space required by the city, says sales rep Krista Freeborn, and storage space, work station, laundry, coat closet and pantry all close away behind a smooth sheet of cabinetry that tricks the eye.

“There’s no hardware on the doors so it’s a clean look. It looks like a wall. Everyone comments on how well thought-out it is,” says Freeborn. “So, kudos to the architect.”

That would be Gair Williamson, who has made a specialty of perfecting the liveability of small spaces and winning awards for his work. Here, he not only hides away storage and busy spots that attract clutter, he adds full-window walls for maximum light and translucent sliding panels around the bedrooms in most units. Ceilings here are also higher than expected, an almost-airy eight-feet-nine-inches. The kitchen extends along the wall after the signature cabinetry ends, appliances and counters all lined up in a row, taking up minimal space.

Open living: Hi there.

We like this idea. We like how we can make a mess and then hide it away (except for the cooking part, although the dishwasher can deal with a multitude of sins). Anyway, people are not going to be making multi-course big-family meals here.

This is city living. Singles and young couples are moving in. “The people who want to live in the Main Street area are urban, hip, funky and creative,” says Freeborn.

We’re thinking they will like the galleries. They’ll like the cafes. They’ll like the upscale retailers moving in. They’ll serve cocktails and finger food. Wine in tumblers. Artisan beer. That kind of thing.

“The floor plans are very liveable, and especially very liveable for two people,” says Freeborn. “A lot are one-bedroom-and-dens, and have big balconies.” Open living means the living, dining and kitchen area is all one, so you can put your furniture anywhere you want, says Freeborn, freeing up the space to really make it your own.

South-facing suites have most of the balconies and north-facing suites have the views and more square footage, so things balance out nicely. There’s a common deck on the fourth floor, a common patio on the main floor, and a meeting room.

Within suites, “everything is standard. There are no upgrades,” says Freeborn. Nice features include white component-stone counters and backsplashes. The appliances are all stainless, and include an LG Euro-style bottom-mounted fridge and electric, touch-system AEG stove.

Floors are a V-groove laminate in light classic oak or dark black teak finish, cabinets “light pencil” or dark Kona coffee finish, and suites come with a parking space, front-loading washer-dryer and bike storage.

When Dwell is finished, there will be retail on the ground floor, likely cafes, salons and bistros, says Freeborn, to complement the rest of the neighbourhood.

Overall? “The response is really positive,” says Freeborn. “People like the design, and they like the look of it. It’s very sleek, very streamlined and contemporary.

Central location is key, as it’s very quick to downtown and the whole of Mount Pleasant is becoming very desirable. “It’s an area that’s very exciting for the city,” says Freeborn.

QUICK FACTS

DWELL

What: 46 loft-style flats and two townhomes

Where: 2511 Quebec St. at Broadway

Developer: Holborn Group

Sizes: 559 sq. ft.-826 sq. ft. condos; 1,174 sq. ft. and 1,254 sq. ft. townhomes

Prices: From mid-$300,000 to mid-$800, 000

Open: Noon to 5 p.m. daily except Fridays, 604-708-6010, www.dwellhere.ca

© The Vancouver Province 2006

Strata does windows: REMINDER

Sunday, November 5th, 2006

Common property is council’s responsibility

Tony Gioventu
Province

Dear Condo Smarts:

Our strata council is constantly fighting over who repairs the windows on our building.

We have a combination of townhouses and apartment buildings.

Historically, the strata has taken the view that if you can reach a window then you have to clean it and maintain it, but that has simply resulted in owners for the most part neglecting their obligations.

Our buildings are now approaching 13 years old and while most windows are still fine, we have a number with failed seals and cracked exteriors, and they are starting to look tired.

Our question: According to strata law, who pays for the windows?

— Jacquie, Richmond, B.C.

Dear Jacquie:

Before you can determine who maintains and repairs the windows you first have to look at your strata plan.

On most building strata plans, such as highrise, low-rise and townhouses, the building exteriors are common property. That includes the windows and doors that are on the exterior.

The Strata Property Act only allows a strata to make owners responsible for common property if permitted by the Strata Property Act Regulations and at this time the regulations do not permit such.

The result is simple in your case: The strata corporation must maintain and repair the windows. That also includes cleaning.

More importantly, think about the practical side of it.

Proper maintenance of windows, which should include a routine inspection and replacement of caulking or sealants, is critical both for the preservation of the window system and to ensure water does not enter your building enclosures, such as walls, decks and roofing systems.

This work is best left to a qualified trades person or contractor who provides building-envelope and window maintenance.

Before you maintain your own windows, ask yourself if it’s really worth it. Who is responsible for site safety? Do you have the right equipment? Is there insurance in case of damages or injuries? Is anyone in your strata qualified to perform the work?

And a last grim reminder: an owner fell to her death several years ago attempting to clean windows from her 17th floor balcony because the strata insisted owners must maintain and clean their own windows.

Contact Tony Gioventu, executive director of the Condominium Home Owners Association (CHOA), at 604-584-2462, toll-free at 1-877-353-2462, or email [email protected]

© The Vancouver Province 2006

 

Local Realtor Peter Dupuis of S & P Destinations selling Donald Trump’s Waikiki Tower

Saturday, November 4th, 2006

Vancouver pair look to surpass Intrawest’s $425-million record

Derrick Penner
Sun

Sid Landolt (left) and Peter Dupuis of S&P Destination Properties are selling Donald Trump’s Waikiki tower. Photograph by : Ward Perrin, Vancouver Sun

It’s a long way from hawking resale bungalows out of a basement office in New Westminster to marketing the ultra-luxe Trump Tower Waikiki.

However, not too big a gap for the Vancouver-based partnership of Sid Landolt and Peter Dupuis to bridge with 24-years of experience, a big dose of ambition and — in the words of Landolt — a thirst for seeking out the next new innovation in real estate marketing.

And on Nov. 9, that could all culminate in a record $650-million US sales day for Trump Tower Waikiki, if Landolt and Dupuis’ firm, S&P Destination Properties, hit their goal of selling 80 per cent of project’s 464 units.

That would top previous record-claimer Intrawest Corp.’s $425-million US one-day sell out last December of its Honua Kai resort on Maui.

“The record is less important to us [than] the validation that great international real estate will sell, and sell quickly,” Dupuis said.

Landolt added that the record was also simply “a function of this building presenting itself.”

The 36-storey Trump Waikiki condominium hotel is being developed by Los-Angeles-based property developer Irongate, which hired S&P to sell the project. S&P’s marketing team has been working since April to build a customer base.

Dupuis said they’ve had 8,000 inquires into the project and 1,500 have put down $20,000 US refundable deposits to be first in line. Sales open simultaneously in Waikiki, Tokyo and live online Nov. 9.

Dupuis credited the strength of the Trump brand for the strong interest. He said that when he visited Japan to promote the project, he met with everyone from famous athletes to corporate titans, all curious about what Donald Trump had to offer.

“His fingerprints are on everything here,” Dupuis said of the project. “Donald Trump is the best brander in the world, and he demands results.”

Dupuis and Landolt launched Royal City Realty, in 1982 out of Dupuis’ basement.

They then built a successful Re/Max franchise in New Westminster before moving to project marketing, first with Milborne Real Estate Corp. They got into resort marketing in 1996, founding the firm Sapera Destination Properties in 1996, which they built into the “launch specialist” for Intrawest’s developments.

Dupuis and Landolt sold Sapera to Intrawest in 2004 before launching S&P. S&P, with headquarters on Georgia Street in Vancouver, now has corporate offices in Honolulu and Bangkok.

© The Vancouver Sun 2006

Tenants get free rent and eviction notice

Saturday, November 4th, 2006

Landlord claims renovations too disruptive to allow occupancy

Bruce Constantineau
Sun

Alanda Bellucci holds the recent eviction notices that she received from her landlords for her apartment at Chelsea Place (background) in New Westminster. Photograph by : Ward Perrin, Vancouver Sun

The new owners of a New Westminster apartment building have given tenants a unique Christmas gift — one month of free rent and eviction notices telling them to get out by Dec. 31.

“They just blindsided us,” said tenant Alanda Bellucci. “A week before [the eviction notices], they announced themselves as the new owners and said they looked forward to providing us with a clean and safe building.”

Toronto-based TransGlobe Property Management bought the 35-year-old building at 525 Eleventh Street on Oct. 19 and sent eviction notices to tenants eight days later, with a sweetener that no rent has to be paid for the month of December. The company plans major renovations to the nine-storey, 73-unit concrete structure.

The New Westminster property was one of 13 B.C. apartment buildings acquired by TransGlobe in four separate deals on Oct. 19 worth a total of about $70 million.

TransGlobe marketing director Brenda Hajdu said no other evictions have taken place or are planned at any other company apartments in B.C. She said the interior and exterior repairs required at the New Westminster building are too disruptive to allow tenants to remain.

“The renovations are going to be so extensive that the units will not be livable,” Hajdu said in an interview. “This is out of the norm for us. We would never evict anyone if we didn’t have to.”

Bellucci said many tenants, some who have lived in the building for 30 years, are very upset now and considering a rent boycott.

“It’s getting ugly — not a nice situation to be living in,” she said.

Bellucci said she will try to move into a co-op now because that will provide more “secure” accommodation.

“The temporary manager suggested I look for another one of [TransGlobe’s] buildings and I just laughed and said: ‘What fool would rent from TransGlobe?’ with the thought in the back of my mind that I could be evicted any day.”

Dan Hillborn, who has lived in the apartment building for 13 years, agrees with the new owners that major renovations are required.

“This building has deteriorated a lot over the years and the previous owners did nothing,” he said. “Fire alarms have acted up, there have been water leaks and you can even see cracks in parts of the building.”

Hillborn pays $580 a month for a one-bedroom apartment and has only had one minor rental increase in 13 years.

“I’ll roll with this and find something else,” he said. “It’s the Christmas move that’s a real pain.”

Hajdu wasn’t sure how much rents might increase after the renovations are complete but insisted TransGlobe has no plan to make building rents expensive and unaffordable.

“We’re not looking to do condo conversions or anything like that,” she said. “Our strategy is operate quality, affordable mid-market rentals. There’s a big need for it, especially in the Vancouver market.

“We take under-managed properties and invest substantial capital in them so they become better homes for our tenants. The happier the tenant is, the longer they will stay with us.”

TransGlobe entered the B.C. real estate market in the summer of 2005 when it bought 18 Greater Vancouver apartments containing about 900 rental units. It has since purchased major apartment buildings in Victoria and now owns more than 2,000 units in B.C.

TransGlobe also paid $85 million last year to buy the Riverport Sports and Entertainment complex in Richmond and spent $15 million early this year to buy an eight-storey Vancouver office building at 570 Dunsmuir Street.

© The Vancouver Sun 2006

 

Easy-to-read cellphone aimed at baby boomers

Saturday, November 4th, 2006

COMMUNICATION I New Jitterbug for 55-and-older market works with hearing aids

Shannon Proudfoot
Sun

Martin Cooper, inventor of the cellphone, and Arlene Harris, CEO of Great Call, creator of the Jitterbug, hold their respective inventions.

The latest entry to the cellphone market can’t shoot pictures or video, and it has no customizable wallpapers or voice-dialing capability.

It is, however, hearing aid-compatible.

Meet the Jitterbug — the cellphone named for the swing-dancing era and designed for baby boomers and their parents in the 21st century.

The phone has chunky, easy-to-read keys and a large screen display, straightforward Yes and No command buttons, a “familiar” dial tone that tells you it’s ready to make a call, and a friendly operator who will help out at the touch of a button.

A simplified version of the phone has just three buttons, for making calls to 911, the operator and a pre-programmed frequently called number.

The Jitterbug is the brainchild of Samsung and California-based GreatCall, Inc., whose mission it is “to simplify technology and make it available to everyone.”

The phone launched in the U.S. in mid-October, and should be available to Canadian users within a year.

It is poised to tap a burgeoning market: a Decima Research study commissioned by the Canadian Wireless Telecommunications Association (CWTA) found that cellphone use among Canadians 55 years and older has doubled in the last six years, to 48 per cent from 24 per cent.

User-friendly technology is “a life-stage issue” and until now, cellphone manufacturers have focused on the rapid-fire preferences of consumers under 40, says GreatCall CEO Arlene Harris, who co-founded the company with her husband, Martin Cooper, designer of the first cellular handset in 1973.

“Most marketers, when they think about people over 50, there’s some switch that turns off,” Harris says, adding that “lots of research and probably as much common sense” went into the Jitterbug’s design.

As the postwar generation swells the ranks of the 50-plus, any smart entrepreneur will find a way to cater to their demographic, says Reginald Bibby, a sociology professor at the University of Lethbridge and author of The Boomer Factor.

In addition to sheer numbers, the baby boomers are an “incredibly materialistic crew” that will drive an unprecedented wave of consumer products tailored to aging needs, he says.

“They’re going to be a prime group when it comes to anything of a technological nature,” Bibby says.

“They’ve been readily co-opting things as they’ve been emerging over the last several decades, and it’s just going to continue.”

Already, Ford Motor Company has created a “Third Age Suit” that simulates loss of strength and flexibility so young ergonomics engineers can understand the needs of older drivers, and Black & Decker is producing tools with more comfortable grips and bigger information readouts, says David Cravit, senior vice-president marketing of Toronto-based 50Plus Group, which operates several Internet portals and newsletters.

Home Depot stores in Toronto and Victoria have launched special collections of products designed to assist older people with independent living, he says, while manufacturers are producing helpful goods that are increasingly intuitive and attractive.

Even though most boomers don’t yet need grab bars in the bathtub or a simplified cellphone, Cravit says the estimated five million Canadians caring for a chronically ill loved ones represent a “massive market” for all sorts of aging-friendly products.

“Most of the marketing is aimed at the boomers, because they’re either buying it or influencing the purchase for their parents,” he says.

“They’ll spend heavily to keep their parents safe, in comfort and convenience.”

© The Vancouver Sun 2006

 

Kids have their say on top toys

Friday, November 3rd, 2006

Kids give nod to high-touch as well as high-tech toys

MIRELLA CHRISTOU
Sun

TOM HANSON/CANADIAN PRESS Eva Krzaniak, 12, shows off the Fly Pentop Computer, a learning tool that reads back what you draw or write.

Giant Sequoia Play Set

Casey Cogan, 11, plays with the Fly Pentop computer. — CANWEST NEWS SERVICE/OTTAWA CITIZEN PHOTOS

OTTAWA — A skateboardscooter combination, a smart pen that can read back what it has written and stuffed animals requiring Web attention to stay alive are among the top toys for 2007, according to Canadian Toy Testing Council’s annual report.
   Yet, while tech-savvy toys headlined this year’s report, released Thursday, its low-tech counterparts fared well among the children’s choice awards. Three interactive puppets employing a simple set of rings that allow children to manipulate their movements were among the 14 toys recognized.
   The Fly Pentop computer was awarded the council’s Energizer Battery Operated Toy of the Year. The pen-shaped mini-computer, with an attached video, recognizes messages written on a special piece of paper by reading it back through optical sensor technology, character recognition and speech synthesis. It also functions as a calculator, music maker and task scheduler.
   Sold as an education aid, the Fly Pentop ($100; spelling game program and journal making program sells separately for $35-40) is geared toward the eightto 12-year-old “tech-savvy tween market,” says LeapFrog vicepresident of sales Gord Terry.
   Eleven-year-old Kristi Korycki gave it her stamp of approval, calling it amazing and helpful. But she said she probably would not bring it to her Grade 6 class because of its price.
   Webkinz’s Adopt a Pet ($10-15) was among 14 children’s choice awards. Suited for children eight and up, the stuffed animals come with a special code used to create an online account on the Webkinz website (www.webkinz.com). Children can provide food, shelter and stimulation to help their pet grow, and play games to win points which can be used to buy goodies.
   The Fuzion Asphalt Ultimate Carving Scooter ($90-100), also won a children’s choice award for its skateboard-type design, and collapsible handle for easy storage and carrying.
   “Learning to carve may take a few tries but once you have the knack, you won’t look back! Everyone, even adults, have a blast with this smooth, freerolling, stylish scooter,” says the report, noting some of the child experts spent more than 30 minutes on the scooter and never got bored or tired.
Puppets, games among the runners-up
Other children’s choice awards:
Learn-Around Playground: (nine months to 3): Stand-up learning centre that teaches letters, colours and numbers, plays music and allows older toddlers to push three bright balls through a chute. Leap Frog. Magtastik Primary Deluxe: (3 and up): Magnetic building set includes large rods and balls and extra goofy bits to build structures. Mega Bloks Inc. Magtastik Magnimals: (3 and up): Three different animals built from magnetic parts. All body parts can be attached anywhere on the round body providing the opportunity to create traditional or unusual and bizarre animals. Mega Bloks Inc. Elephant Puppet (3 and up): Children can slip their hands into the soft underbelly, and using an innovative set of two pull rings, move the trunk up and down. Folkmanis Inc.
Peacock Puppet (3 and up): Includes a net comb on its head and a plumage of luxurious fabrics and trimmings. A pocket in his neck is for head movements and a glovelike set of pockets in his wings. Folkmanis Inc. Flamingo Puppet (3 and up): By manoeuvring two rings inside, children can manipulate the flamingo’s neck. Folkmanis Inc. Giant Sequoia Play Set (3 and up): Includes a giant sequoia tree hand puppet and six animal finger puppets that live in the tree, which has several holes and openings for the puppets to pop in and out. Folkmanis Inc.
V.Smile Jammin’ Gym Glass (4 to 7): By jumping on the numbers on the mat, children control and participate in 12 different educational games displayed on the television screen, such as finding healthy food choices, answering math questions and sequencing. Vtech Electronics Canada Ltd.
Paper Stained Glass (8 and up): Includes a book of transparent sheets outlined with designs to make “stainedglass” window art, and 12 numbered markers in a reusable storage pouch, each with a thick end and a thin end. Klutz Inc.
Lego Exo-Force, Sentai Fortress
(8 to 14): This 1,448-piece futuristic battle fortress set includes two large battle robots, three small robots, five warriors, and numerous colourful weapons and accessories. Lego Canada Inc. Zooreka (8 and up): Board game for two to four. Players compete to win food, animal, and habitat cards to build a zoo with four theme areas. Cranium
Luck of the Draw (9 and up): Four to eight players draw pictures as instructed on cards. Gamewright.
The CTTC’s full repor t can be read online at www.toy-testing.org/CTTCmm.htm