Located in the heart of Commercial Drive and seamlessly connected to the downtown core, EC3 is a new community built for a modern lifestyle. This boutique project features 8 architecturally designed 2 & 3-bedroom townhomes built with care by boutique builders, The Saint Group. These sophisticated residences offer luxury, comfort, and community at an accessible price point for both young professionals and families alike. So what are you waiting for? East is calling!

THE COMMERCIAL DRIVE NEIGHBOURHOOD

Along Commercial Drive you can find everything from Italian delis to Mexican taquerias, from vintage clothing shops to independent bookstores. There is a strong arts and cultural scene, with numerous galleries, theaters, and music venues. There are also several annual festivals and events that take place on The Drive, such as the Italian Day festival in June and the Car-Free Day festival in July.

EC3 FLOOR PLANS

EC3 PRICING

UNIT 101 - 1550 E 3rd Avenue : $1,274,900
includes a parking stall

UNIT 102 - 1550 E 3rd Avenue : $1,624,900
includes a parking stall

UNIT 103 - 1550 E 3rd Avenue : $1,624,900
includes a parking stall

UNIT 104 - 1550 E 3rd Avenue : $1,249,900

UNIT 121 - 1552 E 3rd Avenue : $924,900

UNIT 122 - 1552 E 3rd Avenue : $1,524,900
includes a parking stall

UNIT 123 - 1552 E 3rd Avenue : $1,524,900
includes a parking stall

UNIT 124 - 1552 E 3rd Avenue : $999,900

DEVELOPMENT AND CONSTRUCTION BY THE SAINT GROUP

The Saint Group of Companies has been a trusted, high quality, development and construction company in Vancouver since 2011. Known for operating with integrity and transparency, the Saint Group prides themselves on providing an uncompromised product to their clients. Scott Sheen, the founder of Saint Group of Companies, had a vision to create a construction and development company that had a positive impact on the community and provided opportunities to the families and individuals who live and work in them. The Saint Group is on a mission to become the most trusted name in development and construction in Vancouver. Learn more about the Saint Group and all of the team players that have contributed to EC3 in the video below.

If you'd like to know more about EC3, get in touch with Shawn Lee or Christa Lee Ferris and they will be happy to answer all your questions.

Can you believe it's already July? Time sure flies, doesn't it? Summer is in full swing, and we're already halfway through 2023! It's a season of sunshine and good vibes, especially here in Beautiful BC. We hope you're savouring every moment of this delightful time, whether you're basking in the sun or embarking on exciting adventures across our picturesque province. So, slap on that sunscreen, grab your inflatable unicorn, and get ready for the most epic newsletter ride of the season.

Now, let's dive into the exciting world of real estate and uncover where we've been and where we might be headed. Buckle up!

After a somewhat tumultuous 2022, marked by an early boom followed by a gradual bust in the composite MLS HPI, 2023 has been a year of recovery. We've witnessed a steady 8.1% increase Year-to-Date (YTD), painting a positive picture on the charts. Higher interest rates may have slowed down some buyers, but the demand continues to outpace supply, resulting in price increases across the board.

MLS HPI PRICE GRAPH:

However, it's important to approach the future with a cautious perspective. This week's rate hike might have significant implications for variable rate mortgage holders and those approaching renewal. For instance, imagine you have a $563,000 mortgage (the city average according to Google) on a 5-year fixed rate about to be renewed. Brace yourself because your monthly payment is set to rise from approximately $2,700 to $3,500 - a substantial 30% increase. Given that most households exceed the recommended 36% Debt-to-Income ratio, many might find themselves in water hotter than Meager Creek Hot Springs (the most visited non-commercial Hot Springs in BC prior to the 2010 landslide).

Now, let's not get too pessimistic. The market is still performing well, but it's essential to acknowledge the growing difficulty of mortgage payments for many Canadians. This situation might have implications, particularly for investment properties, as rising mortgage payments outpace rental income. As we dive into summer, it's worth keeping an eye out for potential opportunities that might arise - particularly in downtown condos.

Speaking of summer, it's a time when the real estate market tends to slow down as buyers and sellers shift their focus to enjoying the beauty of BC's mountains and beaches. Open houses and house hunting might take a backseat as everyone indulges in the delights of the season.

However, once supply comes back on track in the fall, we may find ourselves in multiple offer situations once again. After all, who doesn’t want to move here when we have weather like this?

Before we wrap up, we have some exciting news to share with you! We're thrilled to welcome two new faces to our team: Donita Dyer (left below) and Christa-Lee Ferris (right below).

Their expertise and passion for real estate will undoubtedly enrich our services. Additionally, we're busy preparing marketing materials for our upcoming projects with the Saint Group of Companies. Keep an eye out for these East Van beauties that will be offered to you, our valued subscribers, for the first look.

As always, we are immensely grateful for your continued support and dedication to Blu. Our mission is to provide you with valuable insights and information to navigate the real estate landscape. Whether you're enjoying the summer sun by the pool or exploring the breathtaking wonders of BC, rest assured that we are here to support you every step of the way.

Wishing you a cool and enjoyable summer!

Warm regards,

The Blu Team

P.S. Most inflatables end up in the landfill (or river bottom), so please be kind to our environment.

LET'S TALK ABOUT CO-OP'S WITH CANDICE CHARRON

Candice Charron is Blu Realty's resident Co-Op Queen, well-versed in Co-Operative buying, selling, and financing. She's guided dozens of clients through the intricate process, securing deals without pomp and pageantry.

DECLARE YOUR PROPERTY STATUS FOR EMPTY HOMES TAX

Just a friendly reminder from your real estate friends at Blu Realty that you must declare your property status for the Empty Homes Tax (Vacancy Tax) by the end of this year. Even if you don't own a home yourself, this is helpful information for you to share with your loved ones who do own property. Residential property owners are required to make a property status declaration each year to determine whether their property will be subject to the Empty Homes Tax. Even if you live in your home, you must make a declaration every year. If you fail to declare by the deadline, your property will be deemed vacant and subject to a tax of 3% of its assessed taxable value for the 2022 tax year, and a $250 by-law ticket.

Here are some important dates to note:
• February 2, 2023 is the deadline for your declaration for 2022.
• April 14, 2023 is the deadline for your payment for 2022.

Click here to go to the Declaration Website for more information.

Back in the day, the West End was the peninsula's most upscale neighbourhood, home to super rich (and mainly straight ;) ) railroad families.

The West End of today is lively, funky and the heart and soul of Vancouver’s gay and lesbian community. It’s also a mecca for character buildings and cheap eats; the gateway to stunning Stanley Park, and pleasantly progressive. The perfect place to put down roots and let your freak flag fly!

Old and new, big and small, affordable and expensive, there really is something for everyone in this neighbourhood, but the West End has more than just Freehold properties. Here you’ll also find Leaseholds and Co-Ops. Plus, there are so many unique pockets offering endless entertainment and activities to explore. And I’m here to break it all down for you.

WEST END POCKETS

WEST OF DENMAN

The area “West of Denman” is the seventeen block area bordered by Stanley Park, Beach Ave, Georgia Street and Denman Street. An area once awash with mansions and row homes before the Second World War, is now filled with mid-century residential buildings. Being right next to Stanley Park, naturally this part of the peninsula was the first to be developed.

DAVIE STREET

This is the LGBTQ headquarters of the city and for good reason! Davie Street is home to some of city’s most colourful entertainment venues, restaurants, and businesses. This street is also lined with rental properties, but in recent years there has been an uptick in new high-end high-rises and cafes, with some very exciting projects coming up.

BEACH AVENUE

When you live moments from the beach — long walks on the sea wall, and picnics on Sunset or English Bay become a part of your lifestyle. It’s truly the sunsets, sea breeze and play time that make living on or around Beach Ave so compelling.

IN AND AROUND THE WEST END

With building names such as Ocean Villas, Ocean Plaza, and Ocean Apartments, it’s hard to forget that these condos are close to… yes, the ocean! Whether or not your building has amenities in-house, you can always bask in sunsets at English Bay, or stroll along the seawall around Stanley Park.

Two wheels and two feet will get you far in the neighbourhood. There are lots of shops, bars, cafes, restaurants, and things to do in the West End. Most people that live in the neighbourhood rely on walking or cycling. There is ample parking reserved for residents by the city (regulated by permits) if you like to drive.

The West End is ground-zero for many festivals in the city. The yearly Fireworks Extravaganza and Pride Festival are some of the many loved events that bring hoards of people to this neighbourhood. Some other neat activities include shopping at the West End Farmer’s Market, or dancing to the beat of the drum at the Third Beach Drum Circle.

FIVE FAVOURITES IN THE WEST END

STANLEY PARK

Play tennis, pitch ‘n putt golf, lawn bowling, swimming in the outdoor pool, running, walking, or roller blading; there’s literally a million things to do in this huge park.

FINE DINING

Check out a restaurant on Davie or Denman.

ENGLISH BAY

Pack a picnic, toss a ball, bring your dog and invite your friends too.

THIRD BEACH

Stunning sunsets, tanning, and Drum Circles on Tuesday evenings.

DAVIE VILLAGE

Catch a drag show, sing your lungs out at Karaoke and dance the night away.

 
Nothing beats Summer in Greater Vancouver! It’s fun, festive, and the time of the year that our city truly shines. Spring 2022 was one of the wettest on record and we certainly deserve the hot temps and glorious sunshine we’ve been receiving. In fact, it looks like the PNE might even break its rainy jinx this year, and we can’t remember that EVER happening. But with just 2 weeks left in August, it’s now time to switch our focus back to school and back to work. It’s also an excellent time to look at what the Real Estate Market is up to and to make plans for a move.

After several extremely positive years of growth, our Summer market reacted in a fairly “typical” fashion by slowing down and balancing out. The biggest contributing factor to this slowdown was the rise of interest rates. We haven’t experienced changes like this in many years and it quickly stalled some market segments and brought normality to others. Home buyers suddenly had more options to choose from and more time to make decisions. We expect this trend to move into fall with a slight increase in supply and activity as people quit tanning and start house hunting.

According to the Google, the term “what goes up must come down” means things that rise must eventually return to the earth due to gravity. However, we’re not sure Vancouverites would agree that the real estate market follows the same rules. The last 10 years have seen the Housing Price Index rise a whopping 83% from $659,500 to $1,207,400. But, there have been little hiccups along the way.
 

The recent numbers show that we may be experiencing one of those hiccups right now. After all those massive pandemic gains, it was inevitable that the rules of gravity would eventually take effect. But, if we take the same graph and equalize it, we see that there has been a healthy 8% increase per year and these little dips offer can offer opportunities for investments and long-term growth.

It is next to impossible to time the ups and down of the market perfectly. However, if you are in the market for the long term, the numbers show that Vancouver real estate is a healthy investment and growth is inevitable. Also, it is important to look at the micro-markets within the general market. This is where Blu’s experienced and knowledgeable agents can help guide you. There are always opportunities out there.
 

Our Saint Group Projects Finch + Benson and Main & Maison have officially hit the market so we decided to celebrate with a Field Trip to Walk On Plans. Owner Andrew Vanderwoerd toured us through life-sized floor plans and renderings of the impressive projects' 2 & 3 bedroom units, and blew us all away. For custom tours, hit up our friend Andrew and for a closer look at these modern, architecturally designed homes coming to East Vancouver in 2024, have a look here blurealty.com/saint-group-partnership.

2186 E 4th Avenue, Vancouver

Fall in love with this charming character home in the heart of family-friendly East Vancouver. A 1,274 sq ft, 3 bedroom, 2 bathroom home has been meticulously designed and renovated to maximize every square foot. Fully permitted and engineered additions like a new front porch and entryway as well as expanded south facing back deck surrounded by gardens and fruit trees.

Inside, the kitchen has been redesigned with custom cabinetry, integrated appliances, a gas range, and high-end Kohler fixtures. There's even a cozy breakfast banquette with storage built in. This character home also embraces the latest in technology, with Smart Home lighting by Lutron and NuHeat in floor heat plus hot water on demand.

The garage has been converted into a stunning, fully wired, heated, and insulated studio. This beautiful 'escape' space is perfect for a home office or workshop and is elevated by skylights, a vaulted T&G ceiling, and lovely French doors opening out to a fully fenced and landscaped yard.

1243 Homer Street, Vancouver

The Iliad, a true boutique building in the heart of Vancouver with its quintessential New York vibes! This iconic building is like no other in Vancouver, with only 11 unique and individual units, this is truly a one of a kind opportunity. Ground floor entrance townhouse on great block of Homer Street. Customized from top to bottom including cinematic lighting and a gourmet kitchen with an island that can transform from seating 4 guests to 12. Upstairs has polished concrete floors throughout, spacious living room with 10' ceilings and a king size primary bedroom suite with private en suite. Full second bedroom currently set up with a murphy bed, and second spa like bathroom. This place is pure boujee. Located just off of Davie Street and two blocks from the seawall, the best Vancouver has to offer.

For more information contact Justin Sturby at 604.999.3906 or justin@blurealty.com