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18 OFFERS & OVER ASKING


On Monday I had a personal best for most offers on a listing. Fortunately, I was the listing agent. 744 East 7th Street, North Vancouver was listed for $1.2M with the intention of selecting a price that would illicit enough interest to generate multiple offers. After a week of intense marketing we generated 18 offers. All offers were at or over the listing price. The final selling price was $1.475M.



2012 Property Assessment


PROPERTY ASSESSMENT

 I trust your new year is starting out well. You no doubt have received your 2013 Property Assessment Notice last week.  This notice is BC Assessment’s estimate of your property’s value as off July 1, 2012.  The assessed value is used to determine your portion of property taxes payable.

 Your assessed value can differ dramatically from the actual value.  Since real estate market values have dropped since the assessment date (July 1, 2012) many assessed values are higher than today’s market value.  Furthermore, the assessor actually gets inside very few homes and any major updates would not necessarily be reflected in the assessed value.

 If your assessed value is too high you will pay a disproportionately higher share of property taxes, whereas if it’s too low you’ll pay a lower share. Property owners who feel their assessed value is too high should appeal the assessment by January 31, 2013. You can visit www.bcassessment.ca and then “e-valueBC” to compare your assessment with those of your neighbours.  Each year, typically less than 2% of all BC property owners appeal their assessment.

 Property owners should first contact their local assessment office and talk to staff who can make adjustments if there is an obvious error, for example if BCA included a complete renovation, when it was merely a spruce-up.  The phone number is 604-739-8588.

 Property owners who decide to appeal must complete a Notice of Complaint (Appeal) form and file it by January 31, 2013 at 11:59 PM.  For information, visit www.bcassessment.ca and select Property Assessment Review Process.  Then select Property Assessment Complaint Process – Step-by-Step Guide.

 If you need any help in this process please don’t hesitate to call me.  I can be reached at 604-990-6464.

 



LOCAL REALTOR CHARGED WITH LIGHTING REAL ESTATE MARKET ON FIRE


On January 25th, I listed a property at 4340 Highland Blvd for $870,000 which represented land value on a busy street near Edgemont Village.  I received 9 offers and sold it for $1,065,000.  Since then the following properties sold in the Edgemont area which represented lot value:

ADDRESS LIST PRICE SOLD PRICE
     
928 Wavertree Road 1,369,000 1,347,000
4342 Highland Blvd. 870,000 1,055,376
3910 Trenton Plac 989,000 1,030,000
3308 Vale Court 1,150,000 1,150,000
998 Melbourne Avenue 1,099,000 1,330,000
3246 Brookridge Drive 1,098,000 1,266,000
965 Leovista Avenue 1,200,000 1,267,000
4302 Canterbury 1,199,000 1,350,000
3898 Hillcrest Avenue 1,099,000 1,275,000

Last week I listed a nice family home in Lynn Valley at 4263 Nordby Place.  It sold for $1,002,000 which was $77,000 over asking price.

There's no telling what's going to happen now in Lynn Valley!



EARTHQUAKE SURVIVAL GUIDE


Here's a brief rundown of earthquake survival. At the end of this are two excellent links for in-depth information.

What to do in an earthquake

Earthquakes strike suddenly, violently and without warning. Identifying potential hazards ahead of time and advance planning can reduce the dangers of serious injury or loss of life from an earthquake.

Before

Check for hazards in the home.

Identify safe places in each room

  • Under sturdy furniture such as a heavy desk or table.
  • Against an inside wall.
  • Away from where glass could shatter around windows, mirrors, pictures, or where heavy bookcases or other heavy furniture could fall over.

Locate safe places outdoors

In the open, away from buildings, trees, telephone and electrical lines, overpasses, or elevated expressways.

Make sure all family members know how to respond after an earthquake.

Develop a family disaster plan.

Do some homework

Contact your local emergency management office, public library or Provincial Emergency Program for more information on earthquakes.

Have a disaster supplies kit on hand.

During

If indoors:

  • Take cover under a piece of heavy furniture or against an inside wall and hold on.
  • Stay inside.
  • The most dangerous thing to do during the shaking of an earthquake is to try to leave the building because objects can fall on you.

If outdoors:

  • Move into the open, away from buildings, street lights, and utility wires.
  • Once in the open, stay there until the shaking stops.

If in a moving vehicle:

  • Stop quickly and stay in the vehicle.
  • Move to a clear area away from buildings, trees, overpasses, or utility wires.
  • Once the shaking has stopped, proceed with caution. Avoid bridges or ramps that might have been damaged by the quake.

After

Be prepared for aftershocks

Although smaller than the main shock, aftershocks cause additional damage and may bring weakened structures down. Aftershocks can occur in the first hours, days, weeks, or even months after the quake.

Help injured or trapped persons

Give first aid where appropriate. Do not move seriously injured persons unless they are in immediate danger of further injury. Call for help.

Listen to a battery-operated radio or television for the latest emergency information.

Remember to help your neighbours who may require special assistance--infants, the elderly, and people with disabilities.

http://www.pep.bc.ca/hazard_preparedness/earthquake_preparedness.html

 http://vancouver.ca/emerg/prepyourself/earthquaketips.htm