A recent personal experience has compelled me to write today’s blog entry in hopes of preventing unnecessary misfortune. If you are a renter and you think your landlord’s insurance covers your belongings, think again. Your landlord’s policy covers the building, but not your computer, clothing, and electronics. That’s up to you. That’s why it’s so important to cover your possessions with renters insurance.

Need more convincing? Renters are 50% more likely to be the victim of a residential burglary. Insured losses in the U.S. during the first half of 2011 hit $17 billion from thunderstorms, tornadoes, and wildfires. Those are debilitating events that can be tough to deal with in the best of times. A renter’s insurance policy will help you recover.Like almost anything else in our world, there are myths about rental insurance. Myths arise from people that are uneducated about the certain cause yet are still expensing advice. These myths get accepted as fact because they are often the easy way out, and people rarely ever want to dig deeper. Well, we got news for you: you are going to want to dig deeper if you are to avoid succumbing to these common rental insurance myths.

Common Myths

My landlord has it covered- You would be amazed how often people think they are covered by their landlord insurance. A landlord’s insurance only covers the building you live in, not your personal belongings. If your apartment were to be damaged in some way then you are covered, but if someone steals your TV you are out of luck.

 I don’t own much- Many people don’t think their possessions are worth as much as they think they are. Even if you are living on your own for the first time, chances are you have some valuable accessories. Your Ipod, TV, and DVDs can add up to a lot more than you think.

 The benefits don’t outweigh the costs- People think of insurance and they think of auto and home insurance, policies that can come with premiums of hundreds of dollars a month. In reality, renters insurance will only cost you $100-$200 a year, very affordable for even the poorest college student.

 I’m not liable- Most renters do not even consider liability issues from events that occur inside their place of rent. If someone else gets injured in your house or apartment you are liable for what happens to them, and your landlord’s insurance is not going to cover it.

 My parent’s policy covers my stuff- For most first time college students living on their own it is a common belief that their possessions, once insured by their parent’s home insurance, will still be covered after they move out. This could be true in some cases, but in reality once you move out those possessions no longer reside under that policy.

It is important for Landlords to notify tenants about renters insurance as these things can affect a relationship.

Contact your insurance provider today to find out more information about protecting your belongings.

Telus has sold out the first condo development it has ever built, before a planned formal launch in mid-April, making it the second largest Vancouver project to sell out almost instantly in the past month. The plan includes a 22-storey office tower for the communications company’s headquarters. Designed by Henriquez Partners Architects, it will be the first of its kind in Canada built to the environmental LEED Platinum standard, according to the company. Once complete, Telus’s new headquarters will be unique in North America, featuring 10,000 square feet of green roofs providing organic produce for local restaurants, two elevated roof forests, British Columbia artwork, LED lighting on the western façade projecting programmable colored images on to fritted glass, and media walls where cultural events such as symphony concerts can be broadcast to the public.

Transportation is the new green – That’s why projects like Marine Gateway, a tower that will be part of an office and entertainment complex at the foot of Cambie next to a Canada Line station, and Telus Garden, with 428 units in a 53-storey tower a block from Vancouver’s key downtown intersection, are being gobbled up at a rate not matched elsewhere in the region.

Karim Virani, Founder of Virani Real Estate Advisors believes it is not foreign investors driving the market for the successful projects, but local investors and people planning to live in the condos themselves. These people are also buying something for their children to move into some day and renting it in the meantime, and/or are looking for an investment that’s more stable than the stock market appears to be right now.

Telus offered its employees priority in sales at Telus Gardens and 150 of them bought, even though the price discount was a modest one per cent. The project’s developers, Telus and Westbank Projects, also didn’t allow anyone to buy more than two units.

Contact our Advisors today at 604-695-1000 to find out more about upcoming local investment opportunities.

Marine Gateway, and the 415 pre-sale units that sold, is big news because at a time when listings are soaring and sales have been falling off a cliff, the pre-sales at this development have bucked the negative trend.

A sell-out of pre-sale condo unit offerings hasn’t happened in Vancouver in over six years. As Global TV noted in this story, you have to go back to the Woodward’s presale in 2006 – before the collapse of the world financial markets – to match an opening day pre-sale sellout of a condo development.

Marine Gateway sold out even faster than that Woodward’s development.  Woodwards (with similar prices) took 12 hours to sell 536 units. At Marine Gateway people started lining up last Thursday. As the lineups began, news spread that over 11,000 people had pre-registered for this development.

We were witness to  THE MOST SUCCESSFUL pre-sale launch in Vancouver history, a perfect event for what is touted as the cutting edge model of what’s crucial to real estate sales in the modern city.

All accomplished in the midst of a market which has been screaming negativity week after week from the likes of the mainstream press with their talk of a housing bubble ready to burst.

Contact us today at 604-695-1000 to find out more information on upcoming projects throughout our city.

Today is Twitter is 6 years old. It is no longer the fresh new internet baby, instead Twitter can be jealous of Pinterest, the new internet baby darling. Some interesting facts about Twitter:

1. Twitter reached 500k users 1 year and a half after launching
2. Twitter reached 1 billion tweets shortly after 3 years.
3. Today Twitter easily has more than 250 million tweets per day.

What I also find fascinating about Twitter, and internet technology in general is just how quickly new technologies change the way we communicate, find interesting and relevant information, and market our businesses.

Check out this excerpt from a fascinating Twitter infographic:

I love that women represent such a large majority of Twitter users. I do wish though that we were using it more for business and research, and not only to keep up with friends. One way or another, tough,  Twitter has found its way into our lives, and whether you use Twitter regularly, or have ever tweeted before, clearly this is a medium that  is growing and changing the way humans all over the world communicate.  All of us heard a year ago how Twitter played a central role in the Arab Spring uprisings.  The fact that Twitter provided a place for people to voice their dissent, organize, and get the word out to the rest of the world of what was really going on in Egypt and Tunisia. How cool to know that a company built for profit, in one of the biggest capitalist countries in the world, aided a movement for freedom and democracy to people so far away ?

So as Twitter celebrates its 6th birthday, no longer in its infancy, I am curious. How do you use Twitter? Why do you use Twitter?

If you’re thinking of buying a condo but don’t find the newer offerings too nice, consider Vancouver’s stock of vintage buildings. There are many benefits to buying ‘antique’.

Many love mid-century apartments for their clean lines, durable materials and full-spectrum natural light and would rather let maximum sunlight into their homes than worry about their furniture fading. We live in such a grey climate; older buildings often have large, beautiful windows that let in lots of light. Another bonus: price.  Some of the best value in the city is 1950s freehold strata with no balconies. Those who are willing to sacrifice amenities can get a large, solid apartment for less money.

 While you most likely won’t get a gym or a pool in your vintage building, you may see the tradeoff in hard-to-find heritage features like original hardwood flooring, retro ceramic tiles, soaring ceilings and radiant hot-water heating. Even seemingly missing elements can be a blessing in disguise. For example, the lack of underground parkades in buildings pre-dating the ’50s is an advantage from the perspective of costly building repairs as it reduces the likelihood of water penetration and erosion of the foundation. For those concerned with the ‘health’ of an older building, don’t worry. Buildings from the 1960s and earlier totally bypassed the leaky condo syndrome that hit Vancouver in the 1980s and 1990s.

 Maybe it’s time you some paid closer attention to Vancouver’s older gems! If so, you might be lucky enough to find:

• plaster walls instead of sheetrock — a more interesting texture and more sound-absorbing
• a large expanse of non-tinted windows which open wide, allowing for full-spectrum natural light and fresh air intake
• original wood flooring — fir, maple or narrow-plank oak
• a simple layout that you walk in and understand — no strangely rounded walls, cramped “dens”, or long and narrow rooms
• radiant hot water heating, either through steel baseboard or cast iron radiators — this system relies on circulating hot water for the entire building, resulting in greater energy efficiency than individual electric-powered baseboard heaters; and hot water radiant heating does not build up static electricity or circulate dust
• a breathable building envelope which allows for natural air exchange
• desirable, central locations in vibrant, established neighbourhoods
• original ceramic or cast iron kitchen and bathroom fixtures that are harder to find now and/or costly
• plywood kitchen cupboards that don’t off gas formaldehyde, can be painted many times, and are much more durable than laminate
• fun little nooks and cupboards — an ironing board cupboard, a spice cupboard, a telephone nook
• over height ceilings and coved ceilings
• pleasingly timeless or beautifully ornate exterior design

 Some of our favorite local heritage properties include the Queen Charlotte (1101 Nicola Street; circa 1928), featuring Vancouver’s last brass-gated birdcage elevator, and Hycroft Towers (1445 Marpole Avenue), with original wall-to-wall Critall windows from Britain and oak floors.

 It is our job to help you make informed decisions. Contact us today at 604-695-1000 and we will help you determine the criteria for your new home!

On March 1, 2010, secondary suites became legal in West Vancouver. The Secondary Suite Program was created to help homeowners complete all the life/safety requirements to legalize their existing suite in a way that is affordable. This incentive program ends May 31, 2012. After that time, secondary suites must be registered and comply with the BC Building Code, which will require homeowners to take out permits to complete work that could cost homeowners from $5,000 to $15,000.

Homeowners who apply to register existing suites before May 31 are able to legalize their suites at a much lower cost. The benefits of registering include:

• The suite gets inspected under the program
• Both the owner and tenant are assured of their safety
• The value of the home on the real estate market is increased
• Legal suites are covered by insurance in the case of fire
• Police and Fire departments are aware of the suite in case of emergencies

What is a Secondary Suite?

A secondary suite is a separate residential unit within a home, generally located in the basement, and significantly smaller than the dwelling in which it is located. The size must be either 40% of the square footage of the home, up to a maximum of 968 sq.ft., whichever is less.

Why Has The Deadline Been Changed?

Since the secondary suite program was originally launched in March 2010, certain changes have been made to the requirements to meet the needs of West Vancouver residents. The deadline was extended to allow home owners affected by these changes to register their suites under the program. These changes include:

• Expanded to allow non-owner occupied homes
• Renewal fees for non-rented (unoccupied or family use) suites lowered to $85
• Parking requirements have been reduced for existing suites

There will be no further extensions to this incentive program.

What Are the Fees to Register a Secondary Suite?

• The application fee is $450, which covers the inspection and the first calendar year license fee. 
• The annual renewal fee for rented suites in non-owner occupied homes is $450
• The annual renewal fee for rental suites in owner-occupied homes is $350
• The annual renewal fee for non-rented (unoccupied or family use) suites is $85

Why Does the District West Vancouver Require an Annual Fee?

The annual fee is intended to cover a portion of the additional costs to the District of West Vancouver of providing services to the tenant of the suite.  Such services include, but are not limited to, the Library, the Seniors’ Centre, the Aquatic Centre, the Community Centre and Police and Fire Department Services.

What is the Implication if a Suite is Not Registered Before the Deadline?

Homeowners with an unregistered suite after May 31, 2012, are assuming numerous financial, health and safety risks that could have been managed at a reasonable cost prior to that date. While the incentive program is in place, registering your suite is relatively simple and inexpensive. Should an unregistered suite be identified after the incentive program ends on May 31, 2012, the cost of upgrading your suite to meet the BC Building Code requirements could be quite significant.

What Are the BC Building Code Requirements?

After May 31, 2012, all owners will be required to comply with the full BC Building Code Standards which may incur extra costs by requiring them to:

• provide a separate heating system for the suite
• add or alter an existing sprinkler system
• provide a 45 minute fire separation between the suite and dwelling
• provide both an ionized and photo-electric interconnected hard wired smoke alarm in the suite and dwelling
• increase the width of the exit stairs or corridors to the suite
• provide a self closing solid core door between the dwelling and the suite
• provide an exit door to the suite which swings on a vertical access (no sliders)
• remove or provide protection to doors and windows of the dwelling that could expose the suite exit stairs to fire enclose exposed combustible plumbing piping in the suite as it is not permitted to pass through the rated floor system
• upgrade the electrical and plumbing systems to those code standards
• make any other alterations necessary to bring the suite and the dwelling into compliance with the BC Building Code or other provincial regulations

What Are the Risks of Having an Unregistered Suite?

Unregistered suites are in contravention of the Zoning Bylaw and owners may be subject to fines and/or other enforcement, including:

• Fines may be as high as $10,000
• A lien may be placed on the property to prevent it from being sold with contraventions in place
• A Court Order requiring the owner to take remedial action (stop renting, remove the suite, apply for permits etc.)

Other implications of having an illegal suite:

• The value of the home on the real estate market is decreased
• Illegal suites are not covered by insurance in the case of fire
• Basic life and safety features may not be available including sufficient emergency egress, fire extinguishers and smoke detectors

Contact us today at 604-695-1000 to find out about which incentive program you qualify for.

Click here to view a recent article that was written for  Overseas Property Professional Magazine which includes an interview with Karim Virani and showcases our listing on 5051 Meadfeild Road!

Mulgrave School is hosting their annual Spirit Week and this year the organization they are supporting is NOT FOR SALE, a non-profit organization based out of California. “Not For Sale equips and mobilizes Smart Activists to re-abolish slavery — in their own backyards and across the globe. Not For Sale believes every individual has a skill they can contribute to fight human trafficking, and together we can end slavery in our lifetime”.NOT FOR SALE works to involve individuals in the abolitionist movement through a variety of grassroots initiatives and innovative new technologies. The organization also has several international projects, working to identify victims of human trafficking, collaborating with local law enforcement to assist them, and providing survivors with essential aid after they have been rescued. The organization currently helps victims of human trafficking overseas in Thailand, Uganda, Peru, Cambodia, Romania and additionally has various awareness and action-based projects running in the United States.

Natasha Virani, Melissa Godin and Hannah Radford along with Mulgrave’s Student Action Council have decided to host a benefit concert to raise money and awareness for this significant cause. The performers will be students from Mulgrave School, local high schools as well as a surprise hip hop guest. Representatives from the foundation will also attend in support of this benefit including the founder’s brother – Mr. Ethan Batstone. Everyone in grades 7-12 from the schools below are welcome to join us in raising awareness about human trafficking!

This Benefit Concert will be held Wednesday March 7^TH   at 6:30pm in the theatre at Mulgrave School – 2330 Cypress Bowl Lane, West Vancouver, BC V7S 3H9

Tickets will be $12 and are being sold at lunchtimes in the Mulgrave foyer.

There will also be tickets on sale at the door.

For further information about Not For Sale, please contact Natasha Virani at 604-695-1000 or visit their website at http://www.notforsalecampaign.org/

Please wear as much orange as you can in support of this organization

Kids helping Kids is matching donations

Spirit Week shirts are being sold for $30.00

School spirit can improve a student’s commitment to education and creates a positive learning environment for both students and teachers.  Having a positive learning environment is one of the many things that make going to school so exciting. School spirit helps to develop and foster relationships among people. Having charity awareness creates a desire to help others and by this, enables a person to think of ways and means to build bridges to deliver the mission. We ask that our community join the movement and take action. Hope to see you all on March 7^th.

Even if you may not be able to attend, feel free to buy a ticket, simply to support the cause!

8 Cool Home Buyer Tips For Today’s

Real Estate Market

So you’ve finally decided to buy your next home.  Problem is while you were making up your mind, other fence sitters jumped into the home market too.  Now you may be facing some competition for the best properties.  What to do?

Just because there are other buyers in the market doesn’t mean you can’t come away with your dream house.  But to be a successful buyer in today’s real estate market you’re going to need help.

Your first best move is to know a few inside tricks.  As experienced real estate professionals we have many more than eight ways to increase your chances of landing a prize property despite heavy competition.  The following tested tips will increase your market savvy and sharpen your competitive position.  Then you’ll be ready to act quickly the minute you see that perfect house you don’t want to get away.

Eight Simple Secrets To Avoid Costly Mistakes Buying Your Dream Home Today

1. Get Pre-Approved.

To be pre-approved for a mortgage loan is your fist best move.  You will go through what amounts to a mini-application process (paperwork, credit check, etc.)  prior to shopping for a house.  Pre-approval is more effective than pre-qualification, which only gives you a rough idea of the amount a lender will lend you – assuming no hang ups in the credit and income checking process.  When you are pre-approved it’s like carrying around a suitcase full of money.  In the eyes of the seller, pre-approval makes you a very desirable “cash” buyer.  That’s a real advantage over another buyer whose financing is uncertain.

1. Beat The Competition To New Listings

Once we know your specific price range and tastes, we can regularly do a computerized market sweep for new listings.  We’ll send you a hot list of attractive properties as they come on the market.  That way you’ll get a jump on other buyers before the new listings are advertised or help open.  Timing can be everything today.

1. Do Your Research.

Make yourself a “value expert” by investigating local properties to get an idea of price points, listing-to-sale-price ratios, hottest areas, and best places for a bargain.  Once you know what your money will buy, as your buyer specialists, we’ll add our up-to-the-minute knowledge of what comparable properties sell for in specific neighbourhoods and what impact specific features have on price.  Together we’ll guarantee you the best price and terms.

1. We Can Present Your Offer In Person

Nobody wants their offer languishing on a fax machine in the listing agent’s office while other buyers are putting offers on the seller’s kitchen table.  When the situation calls for that personal touch, you’ll gain an advantage by having us present your offer in person, plus we may pick up critical intelligence on any competing offers by being on the scene.

1. Prove You Mean Business.

There are few better ways to show you are serious about buying a property than by including a good faith deposit along with your offer.  A competitive deposit could be as much as 5% of your bid price to be sure it gets the seller’s attention.

1. Don’t Lose Your Head.

Just because the market is active doesn’t mean you should be willing to pay any amount to get your dream home.  Sure you may have to offer something other than the asking price, such as paying some or all points, inspections, closing costs, or offering a settlement date that fits the seller’s timetable.  But don’t go crazy.  Remember you may have to sell this house one day, and overpaying now will make it harder to get your value back when you sell.

1. Keep It Simple And Clean.

Make sure your headache-free contract itself isn’t messy, or overly cluttered with unnecessary contingencies, especially repairs.  Keep contingencies to a minimum.  Better yet, offer to be helpful, such as order an inspection in 48 hours or be willing to take care of any required local certificates such as smoke detectors or water safety.  Be flexible.  A buyer who will accommodate a seller’s needs is a smart buyer.

1. Don’t Be A Lone Wolf.

What you need most in today’s market is experiences professional guidance.  As your neighbourhood real estate specialists we can help you get pre-approved, find a prize property, and negotiate the best deal on your next home no matter how heated the competition.  Call us today.  We’ll help you be a cool client.

Please feel free to contact the VIRANI SALES TEAM at 604.695.1000 if you would like further explanation on any of these topics, or if you have any real estate questions at all. We simply see our mission as striving to be as helpful as we possibly can to area home owners.