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Opal MLS® Listings
176 438 W KING EDW.. 2 Bed, 2 Bath,1000 Sqft. $1,388,000Dexter Realty
402 438 W KING EDW.. 1 Bed, 1 Bath,836 Sqft. $1,498,000Sutton Group-West Coast Realty
577 438 W KING EDW.. 1 Bed, 1 Bath,728 Sqft. $1,288,000Sotheby's International Realty Canada
577 438 W KING EDW.. 1 Bed, 1 Bath,728 Sqft. $1,288,000Sotheby's International Realty Canada (Nearby Listing)
MLS® Disclaimer for BC: This representation is based in whole or in part on data generated by the Chilliwack & District Real Estate Board, Fraser Valley Real Estate Board or Real Estate Board of Greater Vancouver which assumes no responsibility for its accuracy.
Building Info
Element Lifestyle Retirement - 438 West King Edward Avenue, Vancouver BC.
OPAL by element - located on King Edward Avenue between Cambie and Yukon Stree, next to the King Edward Canada Line station, within a couple of blocks are Hillcrest Community Centre and Queen Elizabeth Park. Estimated completion in Summer 2018.
There will be 43 condominiums and 56 rentals as Independent Living, all registered for Assisted Living so that residents can stay in their same suite as long as possible. Within the same residence are 30 units of Licenced Complex and Memory Care, one of which will be double occupancy. Element's founder and key executives are well respected and established leaders in this industry, known particularly for pioneering and perfecting the Continuum-of-Lifestyles model.
A total of over 30,000 square feet of amenities, both indoor and outdoor, offers programs that accommodate individual interests and passions. Taking an approach of engagement, OPAL by element very much welcomes and encourages residents to give input to shape programming of activities within our spaces - in advance of residence opening, but also to continue on an ongoing basis.
A natural wellness providing an oxygenated infrared sauna, hydrotherapy tub, experiential rainshower, and Himalayan rock salt walls creating negative ion environment within the sauna and movement studio. The movement studio will have a dynamic program including yoga, dance, TaiChi and QiGong. The rooftop patio, with views of downtown and QE Park, will be an area for outdoor exercise classes. It will have many planters for residents to grow herbs and vegetables that will supply our kitchen. To complement the gourmet fine dining program there will also be a wine and scotch tasting bar and a piano lounge. The art room will facilitate professional art classes, and the theater will accommodate avid resident musicians and dancers.
Due to the demographics of the neighborhood, the aim is to have Chinese-speaking staff. To complement widely popular Western activities and cuisine, there will also be sound-proofed Mahjong rooms and authentic Asian cuisine.
NOTE: Pricing on Assisted Living is for monthly rental, including accommodations, housekeeping and 2 meals a day. Additional personal or care support is charged either a-la-carte or by package, as resident prefers. Condominium owners pay property taxes and strata fees as for any condominium; the $1500 monthly membership fee is for access to amenities, programmed activities and meal credit. Care pricing will be established closer to opening for occupancy in Summer 2018. All fees are preliminary and subject to adjustment up until 6 months prior to opening.
Sales for May are up 34% from April and down 44% for May last year. Listings are down 37% from the same period last year, but 59% increase over April listings
BCREA Housing Market Update (June 2020)
Province May sales were down 45% compared to May 2019. Listings are down 10% year-over-year.
Market Insights April 2020
April Sales in COVID-19 time were down 40% from same period last year. Listings were also down by 60% from the same period last year.
BCREA Housing Market Update (May 2020)
Sales across BC fell 50% in April. Listing are down by 43%
Real Estate Related News Articles(Sun and Province)Search News
Reverse mortgage as an exit strategy is a good idea?
Pimento suggests brokers offer using a reverse mortgage when building an exit strategy out of a high-interest alternative mortgage. Offering a lower interest, long-term strategy will not only benefit the homeowner, but adds an additional commission stream for the broker. Clients can use funds from a reverse mortgage to pay exit penalties from an alternative mortgage, and free themselves from a high-interest loan.
Conference Board of Canada foreseeable outlook for Canadian Real Estate economy
The Board’s Canadian Outlook Summary: Summer 2020, in contrast to projections made by institutions like the Canadian Mortgage and Housing Corporation, predicts less dramatic declines in housing prices, but its remaining insights track closely with projections that see the damage done to Canada’s economy at the hands of COVID-19 lingering well into 2021.
CRA’s eyeing tax audit for Canadian property transaction in the US
A Canadian taxpayer who is reassessed through this audit can face substantial tax penalties on top of interest, not to mention the professional and legal fees required to respond and object to the audit. There is also a possibility of prosecution for tax fraud or tax evasion. This article will break down the typical issues that could come up in a tax audit of undeclared real estate property or unreported real estate transactions.
REW, B.C’s real estate leading platform expanding their established listing adding rental properties.
In addition to listings, REW.ca says renters will have access to videos, virtual tours, market insights, and detailed descriptions of the rental properties, including their location, nearby schools, and amenities.
When asked about REW’s strategy, Bray added that, “our goal is to help Canadians find their next home, no matter what that looks like. Whether it’s buying a brand-new development, browsing a listing down the street, or finding a great rental apartment, REW is focused on delivering a complete real estate experience for everyone.”
Prices steady as resale home sales increase Metro Vancouver's June housing sales up month-over-month and 17 per cent above June 2019 with prices higher than a year ago
The total number of homes currently listed for sale on the MLS system in Metro Vancouver is 11,424. That's 23.7 per cent down from the 14,968 homes that were listed for sale in June 2019, but up 15.1% per cent from the 9,927 listed properties in May 2020.
For all property types, the sales-to-active listings ratio for June 2020 was 21.4 per cent. By property type, the ratio is 19.9 per cent for detached homes, 25.2 per cent for townhomes, and 21.3 per cent for apartments. Real estate insiders tend to describe the market as a “buyers’ market” when the sales-to-active-listings ratio is less than 12 per cent, and a “sellers’ market” when that ratio is above about 20 per cent for several months in a row.
Sales of detached homes in June reached 866, up 16.1 per cent from the 746 detached sales recorded in June 2019. The benchmark price for a detached home was $1,464,200, up 3.6 per cent from June 2019, and up 0.5 per cent from May 2020.
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