Sun

After a three and a half year absence, the downtown Y is back! But it’s not the YMCA you once knew. The Robert Lee YMCA marks a whole new era in the YMCA’s 124-year history of bringing people together in Vancouver.

This light-filled space of 92,000 square feet has all the makings of a centre of community.

It’s a centre for the growing downtown population of young families: providing room to spread out, to learn and to play, and to get to know other families.

It’s equally a centre for downtown Vancouverites who are single: to stay fit and get involved, with special rates for seniors, and for young adults under 35 years of age.

It’s a home away from home for commuters who work downtown: whether it’s a quick bite with a friend at the cafe, a quiet moment in the Centre for Reflection, or a relaxing swim after a long day.

And it’s a centre for newcomers to Canada and Vancouver –and for others looking to make a fresh start–with programs and resources to practice English, find a job, start a business, build networks, and make new friends.

We are committed to accessibility so that no one is left out, regardless of financial or physical ability. As a charity, the YMCA is open to all.

Stand in the atrium and look up. There are no walls, no barriers. There is instead a world of opportunities, to strengthen yourself, your family, and your community.

Welcome to the new downtown Robert Lee YMCA.

The YMCA means many things to many people. To some, it’s the camp they went to as a child, where they tasted their first bit of independence from home. To others, it’s the place they go to workout, where they meet with friends and de-stress from the day. To still others, it’s the caring environment where they safely leave their children as they head out to work.

Throughout our 124-year history, we’ve seen that no matter what people’s interests are, they want a life that’s balanced, and they want to support each other in getting there. The biggest thing holding them back is the lack of opportunities to connect.

We thought a lot about what we can do to help make that happen when we were rebuilding the downtown YMCA. In the new Robert Lee YMCA, we’ve created a place where people can make those connections while pursuing a healthy and balanced way of life.

It’s a beautiful facility–bright, modern, and designed to be inclusive and accessible to all. But it’s what is inside that truly embodies the spirit of the YMCA: people of all ages and from all walks of life coming together to discover new opportunities, engage with others, and collectively strengthen our community.

It is only through the support of the community that this new flagship YMCA is now open, and our thanks goes out to all of them: the donors and capital campaign volunteers who believed in our vision; Concert Properties, whose partnership with us made this project happen; and our many other supporters and neighbours.

We see the new Robert Lee YMCA as our gift to the community, one that will be a vital part of downtown Vancouver for generations to come. By bringing people together and providing opportunities to connect, it will make our great city even better.

Bill Stewart, President & CEO, YMCA of Greater Vancouver

A Landmark Community Partnership

Concert Properties partners with the YMCA to strengthen Vancouver

 

Known as a ‘developer with a difference’, Concert Properties is an award-winning diversified real estate enterprise and the proud development partner of the Robert Lee YMCA in downtown Vancouver. Founded in 1989 and owned exclusively by Canadian pension funds, Concert has always been committed to building healthy communities.

For more than 60 years, the downtown YMCA offered the community a wide range of valuable programs and services in health, fitness and recreation, self employment, youth outreach, leadership development, social services and injury rehabilitation. When a new, accessible facility was needed, the YMCA began looking for a development partner that also believed in building vibrant communities and bringing people together. The YMCA ultimately selected Concert as its development partner and together they began investigating how to develop the heritage-designated site to include a brand new YMCA facility and residential tower.

Since its inception 20 years ago, Concert has demonstrated a true commitment to building communities. Concert has repeatedly provided project management services to community organizations; dedicated human, financial and in-kind donations to not-for-profit endeavours; and developed an impressive array of community amenities designed to add to the overall sense of community. In conjunction with the state-of-the-art Robert Lee YMCA, Concert developed Patina, a luxury 42-storey residential high-rise.

The unique partnership with Concert, together with the generosity of the YMCA’s capital campaign donors, allowed the YMCA to replace and upgrade its facility and to stay in the YMCA’s central location on Burrard Street. Concert is very proud to have contributed significantly to the successful redevelopment of this iconic property, ensuring that the YMCA can continue to meet and expand on its commitment to the downtown community for present and future generations.

Robert Lee: It’s about community

 

It was more than 50 years ago when Robert Lee first joined the Downtown YMCA. He signed up for the usual reasons– wanting to lose a bit of weight and keep in shape–but what kept him going there, three times a week over the next five decades, was the people he met.

“As I became more successful, I particularly valued the fact that within these walls I was just one of the guys to the people with whom I worked out with…people I think of as friends,” he says.

Supporting the downtown Vancouver YMCA is his way of encouraging everyone, both young and old, to become more active. He strongly believes that a healthier lifestyle will create a better life not only for individuals, but also for their families and communities.

“It’s important to have places like the YMCA in our communities, places

where everyone is included,” he says. People can go there to get active and healthier, but they can also be educated at the YMCA, single mothers can find child care that allows them to go out and work, and people who are alone can find a place to belong.”

Robert Lee’s own parents immigrated to Vancouver from Hong Kong in 1916. Born and raised here, Robert lived with his family in Chinatown and then False Creek, attending King Edward High School. He graduated from UBC in 1956 with a Bachelor of Commerce and went on to build the formidable real estate business, the Prospero Group.

Robert Lee is very involved with the community as both a volunteer and philanthropist, wanting to give back to the city that has been instrumental to his success in life.

The Robert Lee YMCA… So Much More Than a Gym

 

Visit www.robertleeymca.caor call 604-689-9622

 

The Robert Lee YMCA is about more than just a healthy lifestyle. It’s about bringing people together to strengthen our community.

Inside the new YMCA, you’ll see people working out on the latest fitness equipment, swimming laps in the pool, and taking a yoga class. But you’ll also see seniors learning how to manage their heart condition, young people developing job skills, children discovering new things at preschool, and families spending time together.

This is what the YMCA is all about– helping people of all ages expand their horizons and grow in ways they never imagined.

Take a Look Inside

With more than 92,000 square feet of services and programs, this bright and open-concept six-floor building offers:

– 18,000 square feet of active lifestyle space

– Three fitness studios

– 25-yard UV filtered indoor pool

– Two rooftop playgrounds

– Strength and conditioning zones

– Cafe and lounge

– Gymnasium

– Centre for Reflection

– Squash and racquetball courts

– Computer lab

– Licensed preschool and child care

– Child minding

– Employment training

– Newcomers’ programs

– Youth programs

– Family Development Centre

– Healthy Living Kitchen

– Toy and book lending library

– Underground parking

– Wheelchair accessible facilities and equipment

Get Involved

There are many ways to make the Robert Lee YMCA part of your life.

– Become a YMCA member and fully enjoy the benefits of belonging. There are memberships for adults, children, families, youth and seniors, plus the facility’s inclusive and accessible features ensure that everyone can take part.

– Sign up for a YMCA program, including health and wellness, employment training, children’s programs, youth leadership development and programs for new immigrants.

– Volunteer or work at the YMCA and use your skills to help make people’s lives better. To learn more visit www.robertleeymca.caand click on “Get Involved.”

– Donate to the YMCA and make a difference in the lives of people living in your community. To make a donation, visit www.vanymca.organd click on “Donate Now” or call 604.622.4964.

Membership Info

We offer many types of month-to-month memberships-no locked-in contracts and rates you can afford.

Youth (under 18) Membership -$32

No longer a child, and not yet an adult? If you start a healthy and active lifestyle now, it will stay with you throughout life. Plus, you’ll meet new friends and have fun-guaranteed!

Young Adult Membership -$43

Are you under 35 and want to stay active but are paying student loans and high rent while working for lower pay? The YMCA understands. And, no locked-in contract!

Adult Membership -$53

Access to all YMCA fitness programs to enhance your life. Provides optional 4-month hold for when life takes you away. A partner can join you for just $43 a month and the rate for seniors is $43.

Plus Membership -$81

Looking for that little bit extra to make including fitness in your busy day a bit easier? Our Plus Membership offers extra amenities like towel service, body care products, private steam room and whirlpool. Plus Memberships for seniors over 65 are $65 a month while couples ages 19-64 pay $146 a month.

To learn more, go to www.robertleeymca.caand click “Join.”

Family Membership -$109/$119

Families that are active and play together grow strong together. Includes memberships to the Robert Lee YMCA, access to other YMCA facilities, and member rates for our summer residential and day camps.

Access Membership

YMCA Access Membership removes barriers to fitness, whether they are financial, physical or otherwise. We will work with you to meet your needs and help you reach your goals. At the YMCA, we believe nothing should stand in the way of pursuing a healthy life.

– Fees are subject to applicable taxes.

All memberships include:

– Secure locker access with membership cards

– Access to strength and cardio room

– Group fitness classes like yoga, pilates, and cycle-fit

– Unlimited fitness orientations led by certified YMCA Fitness Leaders

– Aquatics classes and lane swimming, open-pool and on-deck whirlpool and steam room

– Sports programs and open gym for drop-in bas ketball and other activities

– YMCA child minding

– Access to other YMCA of Greater Vancouver membership centres and YMCA health, fitness and recreation centres across Canada

A space for everyone

We reach out

 The YMCA has always been at the forefront of innovative outreach programs and community services. Over our 124 years in Vancouver, our programs and resources have evolved and grown with the community, to respond to its changing needs.

We’re here to support the healthy development of people from all walks of life: a recent immigrant eager to embrace a new life in Canada, a single mom who longs for the flexibility and challenge of her own at-home business, a young person stuck in dead-end jobs who is looking for that one big break into something new.

At the YMCA, they’ll find programs that provide a fresh start:

YMCA Connections: Newcomers meet new friends and get the help they need to make Vancouver home. Programs include matching new immigrants with local volunteer hosts, intercultural leadership training for youth, downtown community gardens, conversation clubs and social events.

YMCA New Ventures Network: People learn how to start their own business and achieve their goals. The program is geared towards Employment Insurance recipients who are ready to turn a great idea into successful self-employment, and includes support from experienced business advisors.

YMCA Youth Internship Programs: Youth ages 15 to 30 get the chance to be mentored while learning job skills for success. The goal is to help youth break the no work -no experience cycle, through programs that offer internships within federal government departments and non-profit organizations.

We care about families

 On the top two floors of the Robert Lee YMCA there’s a very special place: the YMCA Coast Capital Savings Early Childhood and Family Development Centres. Designed to support families while helping little ones to learn and grow, this bright, welcoming environment features three areas:

Child Care Programs: The YMCA’s toddler and preschool programs help busy parents get kids ready for kindergarten while nurturing positive self-esteem. The programs use the research-based YMCA Playing to Learn curriculum, which sets the foundation for language and literacy, math, science and the arts.

Healthy Living Kitchen: The YMCA’s instructional kitchen helps children, families, adults and seniors learn about healthy cooking and nutrition and provides a place to host gatherings, share recipes, and make friends.

Family Development Centre: This home away from home helps families spend time together and build relationships. Parents also find caring support and resources to help them in their most important job–raising a healthy family. Two rooftop playgrounds encourage safe, active play and a toy lending library will keep them coming back.

YMCA Donors, Partners and Friends Celebrate the opening of the Robert Lee YMCA

The new downtown YMCA has been 30 years in the making. It started with a vision to help more people in the downtown core with services to meet their growing and ever-evolving needs. But it took much more than just a vision to make the Robert Lee YMCA a reality. It took the support of countless YMCA donors, partners and friends who also share the goal of a stronger Vancouver. On Friday, April 30th, that group celebrated the opening of the new centre and the journey that made it possible.

1. Robert Lee cuts the ribbon and declares the new Robert Lee YMCA open. {L-R} YMCA Board Member Keith Purchase, YMCA President and CEO Bill Stewart, Leslie Lee, Carol Lee, Derek Lee, Robert Lee, Lily Lee, Graham Lee and YMCA Board Member John Willson.

2. More than 400 people celebrate the new Robert Lee YMCA with hands raised in the classic “Y” formation.

3. Teck Resources CEO, Donald Lindsay with Susan and John Willson.

4. David Podmore (Chairman and CEO of Concert Properties Ltd.), Darlene Poole, Robert and Lily Lee.

5. YMCA Heritage Club Member, May Brown, enjoys reconnecting with long-time YMCA friends.

6. Bill Stewart highlights Benjamin King, 13 year old member of the Highbury Foundation, as a symbol of the “next generation of philanthropists”.

7. Robert and Diane Conconi of the Robert L. Conconi Foundation.

© Copyright (c) The Vancouver Sun

Joseph Pisani, Special from CNBC
USA Today

Heated pools, ocean views and media rooms are not what most people would expect to find in a foreclosed property, but more high-end homes — priced at more than a million dollars — have been falling into the hands of banks this year.

 

Foreclosures of homes worth more than $1 million began increasing at the end of 2009, according to data provided to CNBC.com by foreclosure tracking website RealtyTrac.

Foreclosures reached a high in February 2010, the last month data were available, when 4,169 high-end homes were somewhere in the foreclosure process; having received a foreclosure notice, had an auction scheduled or had ownership taken over by the lender. That’s a 121% increase from a year ago.

The deterioration comes just as housing experts say that foreclosures in the low and middle ends of the housing market are showing signs of stabilization.

Owners of expensive homes “were able to stave off foreclosure longer,” says independent real estate analyst Jack McCabe, CEO of McCabe Research and Consulting in South Florida. “Lower-end homeowners were the first ones to see the escalating foreclosures, because they generally do not have the cash reserves or credit available that the luxury homeowners do. They had the ability to take their credit cards and pull out thousands of dollars, while the lower-end buyers were already tapped out.”

McCabe expects foreclosures in the high-end market will increase into 2011.

Though the RealtyTrac data on high-end homes are not available on a regional or metropolitan basis, anecdotal evidence indicates the problem is cropping up across the country. High-end and luxury categories vary widely from market to market. In some suburban areas, in the Northeast and California, for instance, million-dollar homes are fairly common, but nationwide, they represent 1.1% of overall housing stock.

“We have seen an increase, in the million-plus range, of the number of foreclosures and short sales in the greater Chicago area,” says Jim Kinney, vice president of luxury home sales at Baird & Warner.

He says that of the 295 million-dollar, single-family properties sold in the first quarter this year, 37 were either a foreclosure or short sale, when a bank and homeowner agree to sell the home for less than the loan is worth. During the same period a year ago, 10 of 231 fell into those categories.

In the Fort Myers, Fla., area, Mike McMurray of McMurray and Nette and the VIP Realty Group says he has seen a few foreclosed high-end homes on the market compared with none last year. He’s currently showing a 4,800-square-foot, $3.65 million home on Captiva Island, where foreclosures are usually rare. The bank-owned home has five bedrooms and access to 150 feet of Gulf Coast beachfront.

“There are more we see coming down the pipeline,” McMurray says.

Data show that may be the case around the country. The 90-day delinquency rate on home loans worth more than a million dollars hit a high in February at 13.3%, above the overall rate of 8.6%, according to real estate data firm First American CoreLogic. Foreclosure proceedings generally start after a homeowner has been at least 90 days late on a mortgage payment, experts say.

One difference in the high-end market is that lenders are willing to do more to head off foreclosure by renegotiating the loan or accepting a short-sale transaction, which is essentially a last-ditch effort.

“Lenders are far more likely to go the short-sale route,” says Andrew LePage, an analyst at real estate research firm DataQuick. “There’s a lot more money at stake, and maintenance can be high if a foreclosure just sits there.”

A $1.15 million condominium in Chicago in the landmark Palmolive Building was initially offered as a short sale, but after a buyer did not materialize, it’s now owned by the bank, says Janice Corley, founder of Sudler Sotheby‘s International Realty, which is currently listing it. The condo has lake views and a long list of luxury-building amenities, including a steam room, doorman and gym.

The rise in luxury foreclosures has one Las Vegas real estate agent flying prospective buyers into the city via private jet. Luxury Homes of Las Vegas and JetSuite Air teamed to offer the complimentary trip for buyers flying from Los Angeles to view three foreclosed homes priced between $4.9 million and $6.1 million.

Agent Ken Lowman says he gave three tours over a one-week period and hopes to expand the offer to buyers from other West Coast cities.

There’s just too much competition, Lowman says. “It takes an innovative approach like this to get results.”

Copyright 2010 USA TODAY

People can judge the real thing

Province

THE FACTSWHAT: Four-storey building with 56 homes

WHERE: 33898 Pine Street, Abbotsford

DEVELOPER: Redekop Kroeker

SIZES: 1 bed, 735 sq. ft.; 2 bed 895-990 sq. ft.

PRICES: 1 bed from $164,900; 2 bed from $209,900

OPEN: sales centre, 33898 Pine Street; Hours, noon to 5 p.m., Sat –Thur

Developer Redekop Kroeker began the construction on its Gallantree residential building in the fall of 2008 — at the height of the recession. Various options were considered as the market plummeted, but the developer opted to carry the construction costs for the 56-unit Abbotsford project and proceed, without any pre-sales.

“Now we can point people toward the high quality of the finishing details and construction,” says Robert Marchand, director of sales for real estate marketer Magnum Projects. “They aren’t buying pre-sale, we’re showing them fact.”

The sales team at Gallantree makes it standard practice to show potential customers the view from the top floor of the four-storey, wood-framed building. From there, you can see tidily painted houses and neatly kept lawns, as well as a large elementary school field immediately next door to the project.

Each condo has a nicely sized balcony. Inside, the well-planned suites feel spacious both horizontally and vertically, with nine-foot ceilings. Central hallways and the lobby areas on each floor are enormous. Kitchens have been designed so you can use more than one appliance at a time without having to squeeze by another person.

There are no appliances in the laundry rooms/ pantry areas just off the kitchens, since clients can choose their own washers and dryers, and in return, be given a credit.

“There are so many models of washers

and dryers these days, and it seems like such a personal choice,” Marchand says. “We figured this way it’s easier for people to get exactly what they want.”

That was part of the thinking, too, with the interior design, says Mae Suffron, principal of Creative Design.

“We went with two colour schemes for the cabinets (white birch and maple walnut), in the hope of being accessible to everyone. For instance, with the darker cabinetry, it’s a solid wood Shaker door. It’s still a Shaker door — which is traditional — but the colour is contemporary, so it appeals to a wide mix of people.”

Affordability has been built into the pricing, says Marchand. Suites at Gallantree are selling for around $238 per square foot on average; at the height of the market two years ago, Abbotsford properties were going for approximately $300 a square foot.

For that, he says, you get a location that is less than a kilometre away from a section of historical downtown Abbotsford that is experiencing a transformation, with new merchants and new facades.

A little further out there are larger retailers and the Abbotsford airport. Gallantree is also a short drive from the University of the Fraser Valley and within a quick connection to the Clearbrook highway interchange, which is expected to be finished next spring.

© Copyright (c) The Province

Increasing inventories helps take pressure off

Derrick Penner
Sun

April was a continuation of the trend that has seen sales ease off in Lower Mainland real estate markets and listings rise, which has taken a lot of the pressure off property prices, one economist said Tuesday.

Both the Real Estate Board of Greater Vancouver and Fraser Valley Real Estate Board released April sales figures Tuesday showing higher sales than a year ago when markets were just emerging from their doldrums, but a less frenzied pace of transactions than at the end of 2009.

“What I’ve been watching is a market that has returned to where you would think the market should stand just now coming out of a recession,” said Cameron Muir, chief economist for the British Columbia Real Estate Association.

Muir said those people looking to buy homes as B.C. came out of the recession have largely made their purchases. From here on in, he expects that rising interest rates and stricter mortgage qualifications will crimp the ability of new buyers to get into the market.

The net result, he added, is that prices “will likely face little upward pressure for the balance of the year.”

In Metro Vancouver, the board reported 3,512 home sales through the Multiple Listing Service in April, 18 per cent above the same month a year ago.

At the same time, would-be sellers poured 7,648 new listings onto the market, almost 65 per cent more than were put on the market in April 2009. That brought the region’s total inventory to 15,901 units, up 17 per cent from March and 11 per cent from April 2009.

The region’s benchmark price for a detached home, an average price for typical homes sold, hit $818,403 in April, up 21 per cent from the same month a year ago, and up 2.2 per cent from March.

In the Fraser Valley, realtors recorded 1,793 sales through the Multiple Listing Service, some 39 per cent higher than April 2009.

However, the regional inventory rose to near-record levels with the addition of 3,760 new listings, bringing a total inventory of 10,635 units.

The Valley’s benchmark price for a typical detached home hit $520,423 in April, up 13 per cent from $460,299 a year ago. Compared with March, that price represented a 1.1-per-cent increase.

However, a few price points in both board areas eased off their March highs.

In the Fraser Valley, for instance, the benchmark detached-home price in Langley dropped three per cent from March, to $523,065. The benchmark Abbotsford condominium price slipped 1.3 per cent from March, to $324,480.

Deanna Horn, president of the Fraser Valley board, said the statistics seem to indicate that demand is declining most among higher-priced properties, with strong interest still being shown in the “typical” benchmark range.

“You’ll see incremental price increases and decreases depending on the area and the property type,” Horn said, but on balance the market is “quite stable.”

In Metro Vancouver, the benchmark price for a Burnaby detached home slipped 1.5 per cent to $791,994 compared with March. The benchmark North Vancouver apartment price was down 4.4 per cent from March at $390,383.

However, Muir said not a lot can be read into one month’s figures.

“If listing inventories climb dramatically and sales drop off current levels, of course there is potential for home prices to edge lower,” he said. “But at this point it’s too early to make that kind of call.”

© Copyright (c) The Vancouver Sun

Garry Marr
Sun

Here’s one way to tackle the red-hot Canadian housing market: Get someone to buy you a home. That someone would be your parents.

According to a new survey from TD Canada Trust, 10% of Canadians are considering buying a condominium for their adult children. A year ago, only 5% of parents thought about buying the kids a condo.

“It could be something that the parents are looking at as a long-term source of income, letting their children live in it for now,” says Chris Wisniewski, associate vice-president of real estate and secured lending with TD.

It could also be that parents know condominium prices, like detached homes, have climbed to unprecedented levels, making it difficult for adult children to come up with a minimum 5% down payment, let alone the 20% needed to avoid costly mortgage default insurance.

Toronto condo research firm Urbanation Inc. says the average existing condominium in the city sold for $331,000 in the first quarter of 2010.

Based on an average $369-per-square-foot price, that’s a 900-square-foot unit.

For a new one, prices averaged $443 per square foot in the first quarter, so about $400,000 for that same-sized condo.

Ms. Wisniewski says low interest rates are convincing parents to step up and buy their children homes. The condominium represents an attractive alternative to those parents because the costs are stable.

“They know what the maintenance costs will be,” she says. “[Parents] are thinking, ‘I’m not worried my children are too young to accept the responsibilities of home ownership if I set them up in an apartment. They don’t have to recognize the responsibilities of maintenance in an apartment.’ “

Parents might also see a condominium as a way to get their kids to start a family. The survey found 36% of Canadians are willing to raise families in a condo.

“One of the reasons for that is affordability,” says Ms. Wisniewski. “Where are the new condominiums being built? They are being integrated in really nice existing neighbourhoods with all the infrastructure and all the schools and amenities.”

Brian Johnston, president of developer Monarch Corp.’s Canadian division, says he doubts families will ever be integrated into the condominium stock, but does agree with the premise that parents are helping to buy housing for their children. He says parents often want to keep children close to them so they’ll chip in for a condominium in a nearby neighbourhood.

“How do we know they’re helping out? They tell us when they are writing the cheques for the deposit,” Mr. Johnston says.

Mr. Johnston said when it comes to recent immigrants to Canada, there is “lots of help” from family members to get that first home. “Condominiums are not inexpensive and they’re going to need that help, particularly if the younger ones have not had time to build up their finances.”

The builder has his own children and, based on today’s prices, he figures he’s going to have to lend a helping hand. “I don’t expect them to be able to buy a condo … before they are 30. That is just part of the deal [for parents],” says Mr. Johnston.

It’s not like Baby Boomers don’t have the cash. There have been endless studies that suggest the Boomers are set to inherit billions of dollars in the coming years from their parents.

Craig Alexander, deputy chief economist with TD Bank Financial Group, says there is no hard data to suggest how much parents are helping children, but they certainly have the financial capacity to lend a hand.

Canadians have $1.5-trillion invested in stocks and mutual funds with $500-billion of that figure in capital gains.

“The generation before the Baby Boomers were big savers and, as a consequence, there is a very large income transfer going to take place over time,” says Mr. Alexander, adding it makes sense that some of that money is going to end up in housing and real estate.

For first-time buyers facing rising rates and increasing prices, the helping hand couldn’t come at a better time — just ahead of tighter mortgage financing rules. Most of them probably hope their folks go from “considering” buying a condo to actually doing it.

© Copyright (c) The Vancouver Sun

Real-estate agent, lawyer, inspector, stager are the authors of ‘Real Estate Process’

Pedro Arrais
Sun

A Victoria real-estate agent has teamed up with a lawyer, a home inspector and home stager to coauthor a book that helps demystify the process of buying or selling a home.

The idea of writing The Real Estate Process occurred to Vi Brown, an agent with DFH Real Estate, because she frequently had to give the same advice to prospective buyers and sellers.

1. The agent

“So few people understand the whole process,” says Vi Brown, who has been selling real estate for more than 20 years. “It is a simple process that has never been fully explained.”

Because there is so much involved, even real-estate agents are not likely to cover every detail, she says. Although the book was written for the layperson, Brown says a number of copies have been purchased by other real-estate professionals. Although many will give the books to clients, she suspects others, especially new real-estate salespeople, might find the information valuable.

“These days, there are no formal mentoring programs for new (agents),” says Brown. “No one in the industry would refuse a request for help, but a guide such as this that explains how things work would be helpful for some of my newer colleagues.”

The book is not meant to be encyclopedic in scope, Brown stresses, but it covers enough ground for people to be empowered.

“People couldn’t find answers, because they just didn’t know enough to ask the (right) questions,” she says. “The book gives them a road map of the process so that they know whom to go to and whom to ask the question of.”

2. The lawyer

The role of a lawyer is to gather the necessary information, transfer the property and collect and disburse funds to the different parties in a sale or purchase.

“My job is to make sure the client understands the legal implications of the real-estate process,” says Kelly Orr, a lawyer who handles a lot of real-estate transactions with Browne Associates. “I check for covenants, limitations and encumbrances on the property.”

She says most legal documents in real estate today have been simplified. Documents that at one time had to be filed manually can now be registered online.

“They are now written in plain English so that a layperson can understand,” says Orr, a graduate of the University of Victoria who has more 15 years’ experience. Mortgage documents, which, at one time, were more than 40 pages long, “are now only four to five pages — but with a set of terms to reference the missing information.”

3. The home inspector

A house inspection, while not mandatory, is often recommended as a prerequisite to purchasing and sometimes selling a house. With home prices what they are today, buyers and lenders feel more comfortable going ahead with a purchase on the basis of a clean inspection report.

“I approach each house as if it is hiding something from me,” says Robert Hughes, owner of Fleetwood Building Inspections. “I see every house as a new mystery that we have to solve in three to four hours.”

He says business has never been better, as banks and other lenders either request or require a home inspection report. In Ontario, it’s even customary to have a pre-listing inspection to take the mystery out of the property.

“There’s so much riding on that report.”

4. The home stager

“Everybody wins when the house sells faster.”

Clutter and the look of a “well lived-in” house can delay and lower the selling price of a house. In order to obtain the best price for a seller, a listing real-estate agent might suggest clients engage the services of a home stager, the most recent discipline in real estate.

“First impressions don’t just count; they are the most important,” says Josee Lalonde, a certified Canadian staging professional and owner of Josee Lalonde Real Estate Staging. “For a house to be competitive today, it has to look nicer than the other homes.”

Most of the time, Lalonde will work with the client’s furniture and augment it with items to modernize the look. On a few occasions, she has had free rein to strip wallpaper, paint walls and to dress a house up with new furniture, artwork and accessories.

For an extensive redo, Lalonde recommends clients move out of their homes for up to two days. She says her favourite part of the job is seeing the look of the client when she reveals the staged house for the first time.

The costs vary, depending on what services are needed, but, on average, sellers can budget up to half a per cent of the asking price.

© Copyright (c) The Vancouver Sun