Whistler Real Estate - Jeff Hume

B.C. announces HST 'transitional rules' on new homes

2012-03-06T12:30:00.000-08:00

By Michael Smyth, The Province February 17, 2012

BC Finance Miniater Kevin Falcon has announced the details of the HST rollback on new homes, which will involve raising the HST rebate threshold until the tax is finally scrapped on April 1, 2013.Photograph by: Nick Procaylo , PNGVICTORIA — The government will raise its new-housing HST rebate threshold to $850,000 from the current $525,000 to help offset the consumer cost of the unpopular tax, until it is finally scrapped on April 1 next year.

It will also introduce a similar rebate for new recreational and secondary homes built outside of greater Vancouver and Victoria, to stimulate that market until the tax is gone.

The long-awaited HST “transitional rules” for the new-home market are designed to provide certainty and fairness until the tax is cancelled, said Finance Minister Kevin Falcon.

“The homebuilding industry has been looking for clarity and certainty and that’s exactly what we’re delivering today,” said Falcon, who also confirmed for the first time that the HST will be officially scrapped on April Fool’s Day next year.

The HST was voted down in last summer’s referendum, and Falcon defended the lengthy timeline for returning to the old provincial sales tax.

“When you are going backwards, this is uncharted territory — we’re the only jurisdiction in the world that has done this,” he said, while attacking a suggestion by NDP leader Adrian Dix that the HST should be scrapped by this June.

“It’s irresponsible to suggest ridiculous, unreasonable, irrational timelines like that,” Falcon said. “It would be a catastrophe.”

Instead, Falcon said winding down the HST on April 1 next year is “the fastest date we can get there responsibly” and the transitional rules for new housing will assist a market hit particularly hard by the tax.

Starting on April 1 this year, the government will provide a partial HST rebate on new homes priced at up to $850,000. The amount of the rebate will max out at $42,500, will apply to more than 90-per-cent of new homes, and will mean new home prices will be roughly the same under HST and PST. The HST does not apply on re-sale homes.

For secondary and vacation homes outside of greater Victoria and Vancouver, which had been subject to the full HST on the entire purchase price, the government will bring in same $850,000 rebate threshold.

“This will be a very positive impact for the industry,” Falcon said.

The government also announced that for newly built homes where construction begins before April 1, 2013, but ownership and possession occur after, purchasers will not pay the seven-per-cent provincial portion of the HST. Instead, purchasers will pay a temporary, transitional provincial tax of two-per-cent on the full home price.

New home builders, who earlier complained buyers were waiting on the sidelines until the HST was scrapped, were pleased with the transition rules.

“The industry is going to be quite happy,” said M.J. Whitemarsh, CEO of the B.C. division of the Canadian Homebuilders Association. “I think people will get out and start buying again.”

“We’re very happy with what has happened,” said Peter Simpson, president of the Greater Vancouver Homebuilders Association, and a fierce HST critic. “This gives us the clarity and relief we’ve been asking for.”

msmyth@theprovince.com

Ice skating coming to Whistler Olympic Plaza

2011-11-22T15:25:00.000-08:00

Christopher Poon

chris@whistlerquestion.com

Starting next month, Whistler Olympic Plaza will be transformed into a winter wonderland complete with an ice rink, snow play area and perhaps even sledding.
Read more »

WHISTLER OLYMPIC PLAZA OFFICIAL OPENING

2011-08-14T20:27:00.000-07:00

SHOWCASES A RANGE OF TALENT AT A SPECTACULAR OUTDOOR PAVILION

August 9, 2011: Whistler, BC - On Saturday, August 27, 2011, the Resort Municipality of Whistler (RMOW) will officially open Whistler Olympic Plaza, one of the most technically-sophisticated outdoor venues in Canada, showcasing a well-known roster of talented performers. CBC Radio's Jian Ghomeshi will host the evening as entertainers and special guests share stories of Whistler Olympic Plaza. For the first time, the stage, framed by the spectacular Whistler and Blackcomb mountains, will be set in the new pavilion with free concerts by Juno Award-winning Sam Roberts Band and Canadian alt-country star, Kathleen Edwards.

Whistler Olympic Plaza is the site where the best athletes in the world stepped up to the podium at Victory Ceremonies during the 2010 Winter Games and where the Paralympic Closing Ceremony concluded Whistler's role as Host Mountain Resort. "From the early '80s, Whistler visionaries designated this land as community space," says Whistler Mayor Ken Melamed, "and today, Whistler Olympic Plaza is consistent with the community's vision toward sustainability, including: supporting arts and culture, offering a gathering place where locals can meet visitors, building family amenities, expanding diversified tourism facilities, and more."

Weather or not...

2011-07-28T10:10:00.001-07:00

Cool temperatures, grey skies have mixed impact on resort business

By Andrew Mitchell

There's no question that it's been colder and greyer than usual in Whistler - up until Tuesday, July 26, the month of July 2011 is the coldest the resort has experienced since 1986, according to Environment Canada weather records.

With visitors to the resort booking later than ever - days or sometimes hours ahead of arrival rather than weeks or months out as they have in the past - weather does play a role in travellers' decisions. How big a role is debatable.

Despite the cold and grey, the summer is on pace to be one of Whistler's best ever - third best at this point by a few percentage points. Crankworx was a huge draw in recent weeks, and last weekend's unexpected sun probably helped convince some of our visitors to make last minute plans.

"The resort was literally buzzing (on the weekend)," said Breton Murphy, senior manager of communications at Tourism Whistler. "Definitely it was great for the resort and for the general morale in the community because we got great weather and a surge in visitation. But the interesting thing is that when we look at May (room nights) were down slightly, June was busier than normal and up nearly 20 per cent over last year. And now we're pacing in July and August to be stronger than the same months last summer... the pace of bookings is definitely looking a few percentage points above what we saw last summer."

Read more »

Property Disclosure statements: Think again!

2011-07-27T08:40:00.000-07:00

Whistler Blackcomb's new lift ticket app

2011-06-15T17:00:00.000-07:00

In the not-too-distant future, snowboarders and skiers won't have to queue up at the lift ticket window or deal with the flapping and ripping of paper tickets attached to jackets and pants.
Resort Technology Partners (RTP) has partnered with Whistler Blackcomb and TELUS, a Canadian telecommunications company, to create a smartphone app functionality that will allow riders to use their mobile phones as lift tickets.

The free "Whistler Blackcomb Live" app already has plenty of non-ticket features, including GPS trail maps with run tracking that lets users see their total vertical distance skied and what their maximum speed was, snow and trail conditions, access to webcams, and an integration with Twitter and Facebook.

Read more »

Runners comment on beauty of Whistler Half Marathon course

2011-06-06T10:53:00.000-07:00

June 4, 2011

Cori Alfreds
Special to The Question

With the first sunny day Whistler has seen in a while, friends, family and volunteers welcomed Jim Finlayson, winner of the inaugural Whistler Half Marathon, to the finish line this morning (Saturday, June 4).
The Victoria resident finished the 21.1 kilometre course in one hour, nine minutes and 25 seconds.

Finlayson is an avid jogger, but despite his extensive marathon track record he said he found the course beautiful yet challenging — especially the downhill sections.

"You're putting a lot more stress on the body, so you feel by the end of the hills you're running in quicksand. I found the steeper downhills the toughest," he said at the finish line in Whistler Olympic Plaza.

In the top 10 overall and the first female to cross the finish line was Care Wakely, who clocked in at 1:21:04. She said the uphill part of the course was most challenging.

Despite wanting to collapse by the last two km, Wakely said she couldn't help but notice the Whistler course's natural beauty.

She traveled from Victoria to participate in the race.

"I'm really excited to come to Whistler. I love coming here and the race was great, really well organized, and I am happy to have won," she said.

Among the more than 800 participants was first time half-marathon runner and Whistler local Karen Blaylock, who said she was just happy to have completed the course no matter how long it took her.

"It was so fun to finish it and now I won't have to do another one because I can say I have done it," she said with a laugh.

For full race results, click to http://racedaytiming.ca/whistlerhalf2011.html.

An Interview: Cameron Herold Author Of “Double Double”

2011-05-15T13:08:00.000-07:00

Vancouver speaker, businessman and author Cameron Herold has a new book out called “Double Double, How to Double Your Revenue and Profit in 3 Years or Less“. I have had the honor of speaking at a few events with Cameron across North America over the past few years and always pick up something new. I sent Cameron a quick email asking if he would answer a few questions. Check them out below as well as an opportunity to WIN a copy of his book “Double Double“.

Tell us about yourself?

I’m likely best known in the business arena for being the Chief Operating Officer & driving force behind 1-800-GOT-JUNK?’s spectacular growth from $2 Million to $105 Million in revenue in just six years (2000-2007). Now, As the founder of BackPocket COO, I mentor a select class of promising CEOs, entrepreneurs and their teams, helping them make their dreams happen. With my book Double Double & my speaking events I’ve reached an even broader audience of entrepreneurs on five continents.
I also love golfing, skiing, tennis, cooking, red wine and spending time with my kids.

Your new book “Double Double” just came out, how does it apply to Realtors?

It’s all about focus. Entrepreneurs, which Realtors are, need the systems & tools to grow their companies. There is so much noise in the business book area, and too many books that are just theory. My book Double Double was written for entrepreneurs, and written in the same way entrepreneurs tend to learn. It is loaded with easy to use systems to grow any company.

What advice do you have for todays Realtors, many of whom are working in struggling real estate markets?

It’s all about focus. Focus strategy, focused marketing, focused networking, focused efforts day-to-day, etc. Too many Realtors are trying to find the silver bullet – and their isn’t one. One of the top realtors I know has focused for the last 15 years on the same 16×16 block area, he drives every street in his area every day. He owns it. He’s focused. And I guarantee he isn’t wasteing time on social media, or marketing outside of his focus area. We can’t get more time, but we can get more focused.

How do you choose your Realtor?
I recently chose one in Whistler to purchase our chalet there in December. I went out to a few friends who owned there already and I asked them who was focused & hardest working. I found someone who has lived there for 20 years. Being a Realtor isn’t just a flash in the pan idea. Jeff Hume was focused. He showed us 18 places in one day, beating his previous showing by 10 He listened to us. He didn’t over sell on anything. He worked really hard to help us buy.

3 Responses to “An Interview: Cameron Herold Author Of “Double Double””

Robin Lear says:
4/17/2011 at 9:39 am
I saw Cameron at RE/MAX West conf. In Vancouver, and also had the pleasure of dealing with his realtor in Whistler, Camero’s message was missed by many in Vancouver as I heard some veteran realtors more offended by some of his cautionary tales and remarks. He’s very insiteful for a younger man of OUR generation. Can’t wait to get the book. Robin Lear

Bob Sheddy says:
4/17/2011 at 12:37 pm
I’m sitting at Chapters right now, and I was so intrigued that I bought the book. Thanks to Ubertor for suggesting and recommending the book. I agree with his comments that the best way to pick a Realtor is to find someone who is focused.
Bob

Dave Savage says:
4/18/2011 at 5:02 pm
Picked up a copy of Cameron’s book last week and can’t put it down. Especially like and agree about focus. Particularly like the Letters to Myself. Great book for small and large companies. Will be buying more copies and giving them out.

2011-05-09T16:55:00.001-07:00

May 6, 2011

Eric MacKenzie
eric@whistlerquestion.com

Think you had a busy ski season? There’s a pretty good chance that Stephanie Jagger’s got you beat.

The 30-year-old Vancouver resident broke the Guinness World Record for most vertical feet skied in one year, breaking the old mark of 4,146,890 feet on Thursday afternoon (May 5) on Blackcomb Mountain.

“I was having these panic attacks about falling on the last run,” she laughed. “I took it pretty slow and (broke the record) around twelve-thirty.

“I had some people to call… and had lunch and a boozey coffee to celebrate.”

Jagger, who considers Whistler Blackcomb her home ski area, traveled the world since July and skied on five continents while racking up the distance needed to set the new record before returning home to B.C. to break the record.

Jagger said she expects her final total to come in at approximately 14,000 feet more than the previous record, which was originally set by a British man in 1994.

As of Friday, Jagger was still awaiting confirmation from Guinness that she would be proclaimed the new official record-holder. She is expected to learn one way or the other before the end of the month.

In British Columbia, Asians Make the Difference

2011-04-01T10:18:00.000-07:00

By JOANNE BLAIN
Published: March 31, 2011
New York Times

VANCOUVER, BRITISH COLUMBIA — With a golf course designed by Jack Nicklaus outside its door and views of Olympic-caliber ski slopes from its master suite, the five-bedroom home in Whistler, British Columbia, could be a perfect fit for a well-heeled buyer.

But the house, listed at 3.5 million Canadian dollars, or $3.5 million, has languished on the market for more than a year. Other pricey properties in the ski resort area have a similar history.

There is a different story just two hours south in Vancouver, where a 5,985-square-foot, or 556-square-meter, house recently sold to a mainland Chinese buyer less than a month after it was listed, and at close to its 5.3 million dollar asking price.

Overseas buyers are playing significant roles in both real estate markets, but producing markedly different results.

In Vancouver, Asian purchasers, most from mainland China, are snapping up high-end houses and condos, keeping sales brisk and prices high. While in Whistler, sales have slowed, in part because the pool of U.S. buyers, traditionally the dominant foreign presence at the resort, has shrunk and other foreign investors have not picked up the slack.

“Whistler is having the perfect storm,” said Ross McCredie, president of Sotheby’s International Realty Canada. There has been a province-wide decline in sales of recreational property, which is Whistler’s main attraction; many Americans do not want to face the bureaucracy of frequent cross-border trips, and the Canadian dollar is almost at par with the U.S. currency.

American buyers now account for 7 percent to 8 percent of residential sales in Whistler, down from a norm of 10 percent to 12 percent, said Pat Kelly, owner of Whistler Real Estate Co.

To prospective U.S. buyers, Canadian properties no longer look like the bargain they were in 2002, when the Canadian dollar was worth just 62 U.S. cents, or even just a year ago, when it was at 79 U.S. cents.

“The enthusiasm for Whistler property has declined a bit as the currency exchange rate has reversed itself,” Mr. Kelly said. The drop has been exacerbated by a perception among U.S. buyers that real estate, particularly resort property, is not a good investment right now, he added.

Cameron Muir, chief economist for the British Columbia Real Estate Association, said, “It’s going to be a little while before we see recreational real estate buyers and investors return to the kind of numbers they were at prior to the recession.”

Despite their sharp interest in the Vancouver real estate market, buyers from mainland China have not been as captivated by Whistler, perhaps because skiing has only recently started to catch on in popularity with mainland Chinese.

Instead, buyers from Pacific Rim locations like Hong Kong, Singapore, Korea and Taiwan make up the second-biggest group of foreign investors in the resort community, Mr. Kelly said, though they have not filled the void left by U.S. buyers.

“We would certainly define this as a buyers’ market right now,” Mr. Kelly said. But with interest rates near historic lows, many prospective sellers are willing and able to wait for an upturn.

That means U.S. buyers, who have seen “fire sale” prices at some resort communities in Arizona, Florida and California “come up here expecting the same thing is happening in Canada, and it’s not,” Mr. Kelly said. “That usually catches them a little off guard.”

In Vancouver, U.S. investors have always been a small part of the market, but mainland Chinese buyers have a more recent, and rapidly growing, influence, Mr. Muir said.

Mr. McCredie, of Sotheby’s, said that in the past six months, the “vast majority” of sales of Vancouver-area homes priced at 2 million dollars or more have been to foreign buyers, most from mainland China. “Foreign buyers have driven up price points here, and they have heavily influenced local buyers,” he said, adding that from a sales perspective, “if we did not have foreign buyers, we’d be in a lot of trouble.”

British Columbia gets about 55 percent of all “investor-class” immigrants to Canada, Mr. Muir said, and the majority settle in the Vancouver area. To qualify as an investor-class immigrant, an individual needs to have a minimum net worth of 1.6 million dollars and be prepared to invest 800,000 dollars in Canada.

Many make that investment — and more — in real estate, which has helped drive the price of a typical single-family house up to 1.85 million dollars on Vancouver’s west side and close to 1.1 million dollars in Richmond, a southern suburb that has a large Asian population, according to a report in March from the Real Estate Board of Greater Vancouver.

In 2010, a record 375 Vancouver houses and condos sold for more than 3 million dollars, according to Multiple Listing Service records, including one single-family home that sold for 17.5 million dollars.

“From a global investment perspective, the real estate market in Canada is seen as relatively stable, not with the kind of volatility we’ve seen in the United States,” Mr. Muir said.

One high-profile project that has benefited from the strength of the Vancouver market is the Private Residences at Hotel Georgia, a luxury downtown condominium development still under construction that is attached to a refurbished heritage hotel.

Since sales began in 2007, more than 60 percent of its 156 suites have sold at prices ranging from 1.3 million to 9.6 million, and interest from international buyers has been particularly brisk in recent months, sales agents say.

Don't be caught between phases

2011-03-13T21:39:00.000-07:00

Sunday, March 13, 2011
By Ozzie Jurock, The Province

"We learn more by looking for the answer to a question and not finding it than we do from learning the answer itself." -American author Lloyd Alexander (1924 -2007).

Q: My husband and I want to buy a property at Whistler. We are confused between Phase 1 and 2 condos and nice-looking hotel-type units. Help?

A: Yes, it can be confusing. Phase 1 simply means: unlimited personal use (this is what you want!), and phase 2 means an assortment of limited personal uses: for instance, 28 days in winter and 28 days in the summer. (This is much less desirable).

Hotel-type units are a commercial-type investment. I have intensely disliked phase 2 and hotel units for 15 years. In the hottest real estate market of all time, you can buy Phase 2 (limited-use) condos at Whistler for 1996 prices, hotel-unit prices at the Four Seasons are off 45 per cent from 2008, and Phase 1 units and houses have doubled in value over the same period.

All prices at Whistler have come down, the Olympics having made no difference but I agree with you: Whistler prices may well be at the bottom.

Q: I read that I can make my home mortgage interest tax deductible. How do I do that?

A: It is called the "Smith manoeuvre." Type that into Google for a lot of answers. In a nutshell: You use your business or other income to pay the mortgage and borrow the money to pay your staff and other business expenses. That way, the interest on the money you borrow becomes tax-deductible over time while the mortgage on your home gets paid down.

However, be rigorous in keeping documents, bank accounts and payments separate. If you pay your company utility bills and your home hydro bill with the same Visa, you are doomed.

Ozzie Jurock is a senior real estate adviser at www.jurock.com. He can be reached by email at oz@jurock.com

Maxed Out

2011-03-10T15:14:00.000-08:00

The locals test - take it if you dare
By G. D. Maxwell

Moving to a new place is a daunting prospect. Fitting into that place is even scarier. It's like going to a cocktail party where you don't know a single person... naked. Do you stand in the corner, admiring the host's art, perusing the bookshelves, fondling the priceless tchotchkes scattered tastefully around the room? Do you scam drink after drink from the servers gliding gracefully past, stuff your face with expensive hors d'oeuvres and ultimately either pass out in the guest room or don a lampshade and shout out, "Hey everybody, let's twist!"

Or do you work the room, introduce yourself, make small talk, discover something interesting about the person you're talking to, rely on the general good nature of other people to not completely snub you, not be completely put off when they do snub you, slip a roofie in their drink to get back at them for snubbing you, thank your host and clandestinely make off with one of her Hummel tchotchkes in revenge?

Or maybe a combination of all those things?

Fortunately, or not, there are many entrances into Whistler life. We are a young town, young both in age - present company excluded - and in spirit. Whistler's even young in actual chronological time, dating only from the early 1960s in its present incarnation. And as a bustling (bristling?) resort municipality, we run on volunteerism. Hell, even a lot of the paying jobs around here seem more like volunteering than working... especially when you open your first pay slip. In short, there are lots of ways, short of lying, one can become a Whistler local.

Ours is not the small, parochial attitude of, say, outport Newfoundland or the deep South. A favourite snub in small, southern towns is referring to outsiders as, well, outsiders. This despite the fact they may have been born there but were unfortunate enough to be born to parents who came from elsewhere, the next town over, perhaps.

This propensity to brand outsiders as the "other" is captured in one of the quaint, none-too-subtle, homespun sayings popular when speaking of first-generation interlopers with questionable roots in the community. "Jus' cuz the cat had her kittens in the oven, don't make 'em biscuits."

So I'm a bit taken aback that people think it's hard to blend into Whistler. I mean, every season we embrace a new batch of instant locals, don't we? I'm not certain asking someone, "Where you from?" is a blatant attempt to exclude them or question their localness. It's what we're supposed to do in a tourist town. It's friendly. It sparks conversation. It gives us a chance to answer their reply inquiry with, "Oh, I live here." and bask in the momentary glory of knowing they wish they were us, even as they insist we clean up their child's vomit.

This is especially true, but by no means exclusively so, if the person has a non-North American accent or we see them driving erratically, in which case we just presume they're from Washington.

But the question of whether someone's a local or not has been, for as long as I've lived here, perplexing. In my first half dozen years, I used to gauge my own localness by taking Peter Vogler's Local Test. True, every year I failed it miserably but it at least pointed me on the path to becoming a true Whistleratic.

With Peter back in town - not to mention the opportunity to only write half a column this week - we've collaborated on bringing the Local Test back to life, albeit with an update or three. So, here it is. See for yourself whether you can stand up in a crowd of old locals and proudly say, "Hey, I'm a local too!"

1. If you own a dog, one point. If it won't fit in a purse, five points. If it does, minus one point.

2. If you have a season ski pass, two points. If you paid full price, deduct two points.

3. Three points if you own your own business in Whistler. Zero points if it involves selling real estate. Five bonus points if your business includes the word 'freelance.'

4. Deduct three points if you don't own a bike. Five bonus points if you ride yours all winter long, two more if you carry skis or a snowboard on it.

5. Deduct five points if you own a BMW (sorry, Bob). Add eight if you got it for under $5,000. Two bonus points if you bought it at a local garage sale.

6. Two points if you've ever smoked pot on a chairlift. Add three more if you grew it. Deduct five points if the person sitting next to you was only 15. Add one point if it was his/her joint. If this question is too hard to follow in your current state of mind, add one bonus point.

7. Add five points if you live in employee-restricted housing. Deduct 10 points - and leave town - if you rent out a suite for more than the allowed rent.

8. Deduct nine points if you drive a pickup truck with a gun rack in the back. Five more if you can't see the gun rack because the snowmobiles block it from view. Add two points if it's stolen.

9. Add a point if you swim from the Lost Lake dock. Three more if you're nekkid.

10. Give yourself three points for every child you've had in Whistler (to a maximum of 10).

11. Deduct two points if you ski on Saturday. Add two if you're paid for it.

12. Deduct two points for every Whistler postcard you've sent this season.

13. Give yourself a point if you work for the muni. Give yourself five more if you've ever said, "I'd be happy to forego my raise to help balance the budget."

14. Give yourself a point for every hotel hot tub you've poached this season.

15. Give yourself a point for every letter to the editor you've had printed.

16. Add a point for every year you've lived in Whistler.

17. Three bonus points if you even know who the heck Peter Vogler is.

Scoring:

0-10 You probably haven't been here long enough to read this column.

11-20 You're likely a weekender, but there's a chance you're a local who's had a bad year and is driving a borrowed truck with a gun rack.

21-25 You're here for the season; enjoy it before you head back to Ontario.

26-30 You qualify as a local... but you could have been cheating.

31-? You're so local you've had it with this crazy place and moved away long ago.

If you scored 25 or better, you qualify for this special local's pass. Cut it out and see if any surviving merchant is crazy enough to give you 25% off.

A promising post-Olympic real estate market for Whistler

2011-02-24T15:12:00.000-08:00

Despite the global media attention generated by hosting the 2010 Winter Olympics one year ago, foreign ownership of Whistler real estate — namely condos and apartments — has diminished, according to a recent report.

The report, released this month by Landcor Data Corporation, is the summary of all Whistler property titles available from the B.C. Assessment Authority database as of Jan 24, 2011.

“The closest thing we compare Whistler to is Expo,” said Rudy Nielsen, Landcor president. “We saw Expo at $12 billion (in real estate sales) and in over three years it went to $28 billion.

“This is a different situation with a worldwide recession — it’s a tough market until next year, but it’s going to turn around; we’re going to see people coming back to Whistler.”

In 2005, foreign owners held 22.54 per cent of Whistler’s $7.15 billion residential value. Today, instead of a widely anticipated increase, that figure has eased to 21.02 percent.

Making up the bulk of foreign owners are Americans, who hold 9.11 per cent of the entire Whistler residential pool — down from 10.95 per cent in 2005 — while the dollar value of their holdings has also dropped from about $986 million to about $834 million.

“What happened with the mortgage crisis in the United States is there’s no equity left in some people’s houses,” said Nielsen, “and you know, a thirty percent drop — a lot of people had to sell their place in Whistler and get out.”

Pat Kelly, owner and president of Whistler Real Estate, said in addition to the real estate crisis, which has created a lack of confidence in the real estate market, the situation with the Canadian dollar having risen dramatically has also contributed to the slowdown of foreign investment.

“The Canadian dollar has strengthened significantly, which has made it attractive for some of our foreign owners who bought a few years ago to sell,” he said. “Quite frankly, they’ve made money on the exchange rate.”

“Whistler is still predominately a regional experience from a real estate perspective,” added Kelly. “Most of the buyers are from Vancouver or the Lower Mainland, or B.C.”

One year after the Olympics, Canadians hold 80.24 per cent of the now $7.878 billion in total assessed value in Whistler. Despite the slippage of sales to foreign owners, the sales of high-end single family detached homes have remained stable.

Heather Clifford, managing broker for Remax Whistler Sea to Sky, said she has seen an upward trend in the number of Lower Mainland purchasers who are taking equity out of their Vancouver properties to buy a dream home in Whistler.

“We seemed out of reach price-wise to most of the Lower Mainland for years and years,” she said, “and it took the last seven years of real estate values in the Lower Mainland to double to meet what we are now, and now they can look at Whistler.”

Clifford has also started to see an increase in purchasers from Hong Kong, which she attributes to the Approved Destination Status granted by China to Canada in late 2009, making group travel easier.

“There are statistics that tell you that to buy a property in Whistler, you need three to five visits here before you can commit to buying ahead,” she said. “But I can tell you when I meet new people when I’m in Whistler, I always say ‘And how did you find out about Whistler?’ and in the last year, it’s all been about the Olympics.”

Agreeing with Nielsen’s positive outlook for the future, Kelly said he expects that from now on Whistler will continue to reap the benefits of the investment that was made because of the Olympics, and the awareness that was created as a result.

“There’s a saying ‘it’s slow the year before, it’s slow the year of, and it’s slow the year after,’” he said. “Now we’re nine months after the Olympics and we are starting to see more activity.”

To view the Landcor report online, go to https://www.landcor.com/market/reports/whistlerforeignowners_201102.pdf.

Team Hoopla wins Peak to Valley Race

2011-02-07T20:43:00.000-08:00

Team Hoopla/Best of Both — comprised of team members Jeff Hume, Ryan Oughtred, Tove Pashkowski and Jayme Smithers — were the quickest group of four competitors in the annual two-day Appleton Rum Peak to Valley Race ending Saturday (Feb. 5).

The epic course — stretching from the top of Whistler Mountain to the Creekside base — was shortened slightly due to conditions on Friday but ran its full length on Saturday.

Team Hoopla was also tops in the combined age 149-and-under category with a time of 20 minutes, 15.01 seconds. Winning teams in other age categories were Toes First (150 to 174), Swiss Movement (175 to 199), Barry the Rooster (200 to 224), the Legacy Cruisers (225 to 249) and the Wild Eastern Flyers (250-plus).

Liz Thompson (4:29.08) of Barry the Rooster was the fastest female racer on Friday, while Oughtred (4:06.29) was the quickest male. On Saturday, Phil Beauregard claimed the men's fastest time (5:37.76) for Team Spirit and Swiss Movement's Janine Linder Joris was the fastest female (6:04.65).

BC's Tourism Heats Up

2011-01-31T12:25:00.001-08:00

For B.C.’s tourism industry, 2011 is increasingly looking like the year of the dragon.

While Tourism Vancouver is predicting that travel to Vancouver will increase modestly from most markets this year — with international exposure from the 2010 Olympics a primary reason — the big news is China, which is expected to lead the way in tourism with a 22-per-cent anticipated hike in overnight visitors to the city.

Tourism BC is predicting a 15-per-cent hike in Chinese visitors to the province as a whole.

Although China’s 2011 numbers will remain much lower than traditional sources including the U.S. and the U.K., there’s tremendous growth potential from the Middle Kingdom.

The reason?

Approved destination status with China, which came into effect in June 2010, now enables Chinese visitors to travel to Canada through organized, pre-sold group tours.

“It’s certainly one of the fastest growing markets,” said Stephen Pearce, Tourism Vancouver’s vice-president of leisure travel and digital marketing.

“But the total magnitude is still quite modest. We’re looking at 125,000 to 130,000 overnight visitors from mainland China [in 2011].

“We’ll probably see it as our largest overseas market [outside of North America] by the end of the decade.”

Cam Routledge, Tourism BC’s director of marketing, overseas, agreed.

“We have a forecast of 15-per-cent growth for China on top of 20-per-cent growth we experienced [for 2010] to the end of November. And that’s pretty heady growth.”

Routledge said China ranks fourth in terms of numbers of overseas visitors to B.C. after the U.K., Australia and Japan, but that “will likely change as growth patterns continue.”

According to Tourism Vancouver, overnight visits to Vancouver from all markets will rise 3.6 per cent in 2011 compared with 2010.

Besides China, travel to the city is expected to increase seven per cent from South Korea, five per cent from India, four per cent from Japan, three per cent from Australia, two per cent from the U.S. and one per cent from the U.K.

However, travel to Vancouver is expected to ease by four per cent from Mexico and one per cent from Germany.

As well, 2011 is set to be Vancouver’s strongest convention year ever (in terms of generated hotel room nights) with 22 conventions planned this year.

Those conventions are expected to result in 143,000 delegates and an estimated 222,000 hotel room nights (up from 166,000 in 2010).

According to the Ministry of Tourism, B.C.’s $13-billion tourism industry — which employs roughly 129,000 people — saw international overnight visitors to B.C. jump 7.5 per cent in November 2010 compared with November of the previous year, bringing 175,121 visitors to the province that month.

There were also sharp increases year-over-year in other key Asia-Pacific markets, including South Korea, India and Southeast Asia.

B.C.’s ski resorts have also been a draw for visitors, especially from the U.S., and that’s expected to continue this year.

“Our ski resorts are experiencing a great season so far, with record snowfall and heightened attention as a result of the 2010 Winter Games. We can expect more great things to come,” said Margaret MacDiarmid, minister of tourism, trade and investment.

Routledge agreed, noting U.S. visitors make up 19 per cent of visitors to B.C. and contribute 21 per cent of tourism revenue.

One company that anticipates more business this year — especially from emerging markets like India and Brazil — is Rocky Mountaineer, the Vancouver-based luxury train service that has moved over one million tourists on excursions through the Interior and to Whistler.

“We’re looking for double-digit growth this year,” said Ian Robertson, the company’s director of corporate communications. “Most of our business comes from Australia, the U.S., Europe and Canada.”

Robertson said that while Germany and India are the company’s two primary new markets, a growing Brazilian clientele is also a big part of Rocky Mountaineer’s plans.

“We’re starting to see the benefits of the Olympics in 2011,” added Robertson, who said both India’s and Brazil’s emerging middle and upper-middle-classes have a “huge desire to travel to Canada.”

bmorton@vancouversun.com

The Power of Positive Feedback

2011-01-27T11:54:00.000-08:00

Jan 27, 2011 |

There are a host of reasons, however, one that stands out in my mind is that positive feedback reinforces the likelihood that certain wanted behaviors will be repeated. It is also validation to someone that they are appreciated and that they belong. Providing positive feedback relates to two of Maslow’s five hierarchy of needs, Esteem and Self-Actualization.

One of the main reasons we provide positive feedback is to increase the likelihood of that same behavior to be repeated. As a very simple example, if an employee is always on time and a bit early for their workday, a simple “I appreciate you always being on time and here a few minutes early” goes a very long way in solidifying repeated behavior. As human beings we are consciously and sub-consciously always looking to be validated or accepted. To illustrate the power of positive feedback, a simple 10 second statement to an employee can often last for an entire lifetime – no kidding. (10 seconds of your time)

How To’s of Providing Positive Feedback

Positive feedback should follow immediately after the behavior which prompted the requirement for positive feedback. The longer the feedback from the time of the event the less powerful it becomes. If not immediate, the thinking with employees is that if it was that great, why my manager waited so long to tell me. Below is a brief checklist of the how to’s of providing positive feedback.

1. Do it immediately
Feedback goes stale when left unsaid too long, so give positive feedback as close to the event as possible.
2. In Public and In Private
Praise in public, criticize in private, that’s the general rule. But before you go praising in a public place think about what they would prefer. Some people get so emotional or embarrassed by public praise that it defeats your good intentions of doing it publicly. Do what’s right for the person.
3. Practice Makes Perfect
It’s easy to overlook good work or extra effort, so make it a habit to praise regularly.
4. Does the Reward Fit?
Keep the balloons and streamers for special occasions. Going over the top with rewards can be mis-interpreted as “buying” favours. Judge the amount of effort and reward appropriately.
5. No Favorites!
Avoid creating “favorites” by doing quick mental tallies of whom you’ve praised recently.
6. Be Clear and Mean It
The best positive feedback is sincere and specific. Tell the person exactly why you are praising them;
“Susan, that extra analysis was really appreciated by the project team and allowed them to make a decision immediately”.
Susan now knows exactly what to do next time to get praise.
7. Catch People Doing Things Right
The more you catch people doing things right, the more right things they will do! Encourage positive actions by letting people know when they do things well. Start today, and in only two-three weeks time, giving positive feedback will be a life-long habit.

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Whistler top Canadian adventure destination: Lonely Planet

2011-01-24T14:53:00.000-08:00

International visitors rise for the sixth straight month

Lonely Planet, one of the world's top travel guides has named Whistler its top adventure destination in Canada.

The accolade comes in the guide's online top-ten destination tips and articles. It outlines the vast skiing terrain for those looking for advice as they book vacations to Canada.

Also making the top ten list was Whislter's ziplining.

"...Ziplining turns out to be one of the best ways to encounter the Whistler wilderness," states the guide.

Meanwhile new figures from Statistics Canada show increases of more than 10 per cent in overnight visitors from the U.S. and China, key tourism markets for British Columbia.

That's contributed to the sixth straight month of gains in international countries, the Statscan numbers show.

International overnight visitors to B.C. jumped 7.5 per cent in November 2010 compared with November of the previous year, bringing 175,121 visitors to the province.

Canada, by comparison, saw a 6.3 per cent increase. Overnight visitors to B.C. from the U.S. rose 10.9 per cent, while overnight visitors from China jumped 10.4 per cent.

"Clearly, our targeted marketing campaigns are working, and people from around the world are realizing that B.C. is second to none as a place to visit, live, work and invest," said Margaret MacDiarmid, B.C.'s Minister of Tourism, Trade and Investment in a release.

Key markets in the Asia-Pacific region also posted gains in November, with overnight arrivals from South Korea up 21.9 per cent, India up 18.4 per cent, and South East Asia up 19.5 per cent.

Tourism was estimated to be worth $12.7 billion in 2009. It provides jobs for 129,000 employees in the province.

The numbers reported by Statistics Canada are based on international visitors who cross through Canada Customs into British Columbia. Actual numbers of visitors to B.C. are higher, as domestic visitors are not included. As well, more international visitors pass through customs outside of B.C. and then travel to the province.

TOURISM BY THE NUMBERS - STATS CANADA
- Total international overnight arrivals to B.C. rose 7.5 per cent in November, compared with November 2009, while Canada reported growth of 6.3 per cent.
- From Jan. 1 to Nov. 30, 2010, international visitor arrivals to B.C. grew 3.9 per cent to 4,006,896 visitors. Canada reported 2.3 per cent growth during this time.
- Overnight customs entries from the U.S. rose 10.9 per cent in November; compared with 2009, with Canada reporting a 6.7 per cent increase in its U.S. visitors.
- Overnight visitor arrivals from Asia-Pacific countries rose 2.5 per cent in November, compared with November 2009, while entries from Jan.1 to Nov. 30, 2010, were up 11.2 per cent, representing 750,718 visitors.
- Arrivals from China rose 10.4 per cent in November, compared with November 2009.
- Visitors from New Zealand were up 22.2 per cent, compared with November 2009.

Buying a Home for Your Child - Yahoo! Real Estate

2011-01-21T09:46:00.000-08:00

It used to be big deal if Dad bought you a car when you were old enough to drive – but now some parents are buying homes for their kids. It's a great investment and saves them from paying rent, whether they are attending college or university or are striking out into the working world.

A recent poll by TD Canada Trust says that 10 per cent of Canadians would consider buying a condo for their adult children. For the parents it offers some peace of mind, since the investment may help their children into better housing than they could afford if paying rent. For the kids, it's a way to learn about the pros and cons of looking after their own homes, and perhaps even get some experience at becoming a landlord.

The trend is growing in cities across the country. In Montreal, developers have offered incentives specifically geared to families who are buying a condo for a young adult. In Toronto and Vancouver, where Asian investors are buying up many of the new condos, it's not uncommon for a family to buy a unit for their child to live in while attending school. Sometimes they have long-range plans to move to Canada themselves, so they buy now and have their child live in the unit, or rent it out.

For students heading to a new city to attend college or university, buying a house or condo eliminates the need to search for sometimes pricey student accommodation. Some of these students live in the homes and rent out a basement apartment or have roommates to help offset costs.

As with any real estate investment, there are a number of financial, tax planning and social aspects to consider before buying a home for your child. The usual rules of real estate apply: location, location, location. Buyers must ensure that the property will be in demand for renters, because the child may not want to live there for long. If the unit is sold in a couple of years, will the buyer be able to recoup his investment?

Buyers must ensure that a property being purchased with a rental suite complies with local zoning bylaws, fire codes and electrical safety standards, and that the proper insurance is in place. Some municipalities have tried to clamp down on student housing in new developments because of complaints from the neighbours.

If the adult child is going to rent out part of the house or have roommates, even if they are moving in with friends, it's important that the living arrangements are spelled out in advance in a businesslike manner. Each renter should sign a written tenancy agreement that covers how much rent will be paid, what additional costs (such as utilities) will be paid by the renter, what facilities will be shared, and house rules such as whether pets are allowed, smoking policies and provisions for parking and laundry facilities if applicable.

In some provinces, if the kitchen and bathrooms are being shared, the provincial tenancies act may not apply. That gives the landlord the ability to evict a renter without going through a formal eviction process if they find out they can't get along with the roommate.

Kathy Monro and Caryn Watt of PricewatershouseCoopers recently wrote a paper ( Wealth and Tax Matters, Winter 2011 ) about the tax implications of buying a home for your adult child, setting out four options.

The first is purchasing a condo in your own name. The downside to this is that when the condo is sold, it will be subject to capital gains tax because it isn't your principal residence. Under Canada's tax law, you and your spouse (including common-law partners) and any unmarried children under the age of 18 are entitled to designate just one property as your principal residence for each year.

The advantage is that it may protect your investment if your adult child is married or gets married and then gets a divorce. In provinces like Ontario, the matrimonial home is included in calculating "equalization payments" even if the home was a gift or inheritance and even if it was owned by one of the spouses before the marriage. So, the other spouse is entitled to an equal share of the value of the condo. If the condo is in your name, it would not be subject to this rule.

Munro and Watt say the second option is giving a cash gift to your child to cover the cost of the condo. The child holds the condo in their own name, and as a principal residence it does not incur capital gains taxes when sold. It does not protect the condo from equalization in the event of a divorce.

Option three is lending the money to the child by way of a mortgage. The mortgage should be interest-free to avoid taxable income. "Because the child owns the condo subject to a mortgage, we understand that this plan could provide better protection to you and your child under family law legislation should the child divorce while owning the condo," say Munro and Watt.

The fourth option is setting up a family trust, which would then own the condo. "Family trusts are popular vehicles for sharing wealth with family members because they offer the trustees the flexibility to accommodate the changing and competing needs of the beneficiaries," say the authors.

Carney keeps rate at 1%

2011-01-18T15:02:00.001-08:00

The Bank of Canada elected to hold its benchmark overnight lending rate steady at one per cent in its latest policy decision on Tuesday.

"The global economic recovery is proceeding at a somewhat faster pace than the bank had anticipated, although risks remain elevated," the bank said in a statement.

"Any further reduction in monetary policy stimulus would need to be carefully considered."

The statement gave no clear indication as to when the bank might start raising rates again.

After cutting the rate to a record low of 0.25 per cent during the recession, the central bank raised the rate in June, July and September before standing pat in its three policy decisions since then.

Economists were expecting the bank to not change the rate — especially after the federal government moved to cool the housing market further on Monday by tinkering with mortgage rules.

However, the C.D. Howe policy council recommended last week that the time had come to start edging the rate toward meeting a target of 2.5 per cent by the end of the year.

BMO economist Michael Gregory predicted in a commentary released after the announcement that the bank would resume increasing rates in May.

With the Canadian dollar already strong, he said the bank "is going to want to see a persistent" improvement in the U.S. economy to avoid any American downturn that would push the loonie higher and make Canadian exports less competitive.

On the other hand, Pascal Gauthier, senior economist with TD Economics, predicted the bank is more likely to hold off until July before increasing rates while it waits for the U.S. Federal Reserve to finish its massive program of bond buying aimed at stimulating the American economy.

The bank usually signals a move in rates ahead of time. Its next statement in March "will be crucial to help determine whether markets should reasonably expect that to be as early as the spring or in the summer," said Gauthier.

High dollar a worry
The bank signalled it is clearly worried about the Canadian dollar, which is trading over parity with the U.S. currency, and the low productivity of Canadian businesses.

In its last projection, the central bank expected the loonie to remain around the 98 cents US level. But the dollar has been trading above parity with its U.S. counterpart for all of 2011 so far. The loonie was trading 0.54 of a US cent lower, to 100.78 cents, on Tuesday.

The loonie slid on the interest rate news even as the U.S. dollar weakened against other currencies including the euro.

"The cumulative effects of the persistent strength in the Canadian dollar and Canada's poor relative productivity performance are restraining this recovery in net exports and contributing to a widening of Canada's current account deficit to a 20-year high," the bank's statement said.

The bank projects the economy will expand by 2.4 per cent in 2011 and 2.8 per cent in 2012 — a slightly firmer profile than had been forecast in October.

Core inflation is projected to edge gradually up to two per cent by the end of 2012, as excess supply in the economy is slowly absorbed.

The bank did not change its target date for when it expects the economy to return to full capacity from the end of 2012.

As well, the bank continued to stress that risks to the global recovery remain "elevated" because of large government debt buildups, particularly in Europe, and the poor financial positions of international banks.

The bank will issue a new comprehensive outlook on the economy on Wednesday, when its intentions over interest rates might become clearer.

Solid weekend for Whistler's Janyk siblings

2011-01-11T16:50:00.000-08:00

January 10, 2011

Eric MacKenzie
eric@whistlerquestion.com

Britt Janyk has started to produce some consistent results on the alpine World Cup circuit in the past few events, while younger brother Michael had a return to form on the weekend as well.

Britt had a pair of top-15 finishes Saturday and Sunday (Jan. 8 and 9) at Zauchensee, Austria that came on the heels of a 13th-place showing in her last race before Christmas, while Michael secured his best finish of the season when placing fifth in slalom at Adelboden, Switzerland on Sunday.

Britt raced to 15th spot in Saturday's downhill and trumped that Sunday when reaching ninth place in super-G.

Wearing bib No. 2, Britt finished the super-G run in one minute, 14.26 seconds to be seven-tenths off the podium and place in the top 10 of a World Cup race for the first time in exactly one year.

Marie-Michele Gagnon was 30th and Georgia Simmerling placed 35th to round out the Canadian showing.

Britt Janyk had the top Canadian finish in Saturday's downhill as well, finishing slightly more than two seconds behind winner Lindsey Vonn.

Michael Janyk's fifth place highlighted a strong day for the Canadian men's technical team, as Brad Spence and Trevor White both cracked the top 20 as well.

The 28 year old was fifth after the first run and finished in that position despite adding more than a second to his second run. It's the first time Janyk has completed both runs of a World Cup race this season.

Janyk, who matched his best result from last season when he had three fifth-place finishes, rebounded from a tough outing at the Zagreb, Croatia slalom on Thursday (Jan. 6), when he missed qualifying for the second run by less than a tenth of a second and placed 33rd as the top Canuck.

No Canadian men qualified for the second run of Saturday's giant slalom at Adelboden, including Janyk, while fellow Whistlerite Robbie Dixon sat out the race with a suspected concussion.

Look for a more complete wrap of the Janyks' weekend performances in the Jan. 13 issue of The Question .

Professional Bums

2010-12-03T12:57:00.000-08:00

To bum or not to bum - skiers choose between lifestyle and a real life
By Stephen Smysnuik

Thomas Pavlik had a month left in Whistler and he didn't say it outright, but he had reservations about leaving. He looked down at the cigarette lodged between his fingers, at the smoke curling up toward his face.

He said, "I'm fighting what to choose - a nice life to do what I want, to enjoy my life and do some brainwashing job, or do I do something important, to keep my mind focused and develop my mind? I'm feeling this pressure again."

This is at 10 a.m. and the Czech-born lawyer has just woken up, eyes bloodshot, short crop of curly hair in tangles, smoking a cigarette on the deck. The luxuries afforded by Living the Dream in Whistler: frequent sleep-ins and very late nights. The drawbacks: being 28, sharing a home in Blueberry with six other people and making around $9 per hour.

He finished law school in 2006 and landed a job shortly after. It was a typical legal job in Prague: very stressful, working 10 hours per day, drafting the equivalent of million-dollar contracts overnight.

"One day, I was sitting in my office at, like, 12:30 in the morning and I was like, what am I doing? I looked around at myself and I was just producing the paper," he said.

He saw a future vision of himself in that position - probably a little wealthier, but in the same position more or less - in similar clothes, with more wrinkles on his face, having stayed in Prague because the routine of the Real World had him shackled to his seat under halogen lights in downtown Prague, transferring papers from one stack to another.

"That's when I decided to leave," he said.

He was one of a legion of young people who quit jobs in their career fields to "Live the Dream," in what is typically intended to be a final fling with juvenility before finally growing up and settling down. Whistler has one of the highest educated work forces in the country for a place that doesn't have many professional jobs to offer. Engineers work in the dish pit. People with medical degrees work ski patrol. Lawyers, like Pavlik, end up as shippers at Home Hardware.

This is what developmental psychologists call a moratorium on life and Whistler seems like the perfect place to do it. You can work and party and play with a stunning backdrop of mountains and trees, breathing in the fresh air while a rotating cast of beautiful people come in and out with the changing seasons. It's like travelling without having to travel.

"This place is like a non-reality sort of place," said Kelly Ford, a former lab technician from Perth. "It's like a - I don't know - like a fantasy land. You can be a different person here than what you are at home. It's addictive. No one knows you here. No one knows what you're about... In this town, it doesn't matter if you have a degree."

Erik Erikson, the developmental psychologist famous for his theory on social development of humans, believed that alternative experiences such as travelling help to establish the individual's identity. While the scientific community is divided on this issue, for some people a moratorium may, in some respects, help people explore options for where they want their life to head.

While some young people take a break from university or wait to start, others quit their careers altogether. Like Ford, who had reasonably well-paying gigs at labs - first in Perth, then in London. She did that for seven years. Then she bailed and moved to Whistler, where she spent two years rolling burritos at Dups before moving back to Perth in October.

"I like the classless society here," she said, back in September." It doesn't matter what you are. You can be a lawyer in the dish pit. It's classless. No one know what you've done or what you've studied. It only matters what you're doing and what kind of person you are, really. It's so addictive."

But she had been Doing Nothing, ignoring the Real World, for two years by the time she left. She was staring at the precipice of 30 and with that milestone looming she felt the anxious pull to grow up.

Marshall said there's no evidence to suggest that Getting It Out Of Your System works at all. It might work for some people, but for others it might make some people want that freedom even more. She says the pleasure principle inspires a "why work when you can play" attitude.

"There's no rational reason as to why you could get it out of your system. Catharsis doesn't work," she said. "If you get angry and blow up at somebody, does it get rid of the anger? No. It's the same thing. Does the blow out at Whistler get rid of anything? No."

She says there's no evidence to suggest that people who have explored the world are any more content than the people who haven't. The moratorium period is the most anxiety provoking, and for some people knowing the world is a diverse place makes them "delightfully less content and decidedly more bent on trying to change the world."

Whistler is considered a fantasy land because the people who live here have the resources to create it, and many of the young people who move here for a season or for a year come from privileged enough backgrounds to afford to take time away from life. Whistler is in many ways the province of the privileged and Marshall says that for people in lower socio-economic standings a visit to Whistler is akin to a visit to the moon.

"For every one that you can find with the privilege of being there, I can find you thousands who will think that it's a trip to the moon," Marshall says.

As a result, the idea of "finding yourself" in Whistler, or becoming fulfilled having Done Nothing for a while, may be linked more to opportunity and privilege than to the actual development of human identity, because - according to Marshall - it's easier to be well-adjusted and content when you aren't under the chronic stress of poverty.

But anyone who has lived the ski bum lifestyle knows a little something about poverty. It's not chronic for most and it's certainly instigated by a life choice, but it can lead to a prolonged period of floating. People wind up stuck here for years. People who once had ambition are now riding a cycle of seasonal work, drinking and/or doing drugs and skiing in the winter.

Jackie Dickinson, drug and alcohol education program coordinator for Whistler Community Services Society, says that every year she sees young people dealing with issues of anxiety and stress, as well as mental health and addiction issues, both within the local community and the transient population.

"Whistler is this place of excitement and adventure, but we all arrive here with this sense of a holiday mentality - where for most us we're thinking this is temporary with the idea of getting things out of our system," she says. "Like all of us, when we embrace that sort of holiday mentality, it's all about excess spending, partying and drinking, but eventually you have to promote a more sustainable lifestyle."

A lot of people end up staying, having found that sense of balance while they're here. Others move on or head back from whence they came. Many others end up stuck in a cycle of low-paying jobs and heavy partying that never really subsides and can be linked to stress and anxiety issues, trying to find that balance.

"There are a lot of young people who come here and eventually they deal with issues related to stress, anxiety and homesickness because after a few weeks the honeymoon period kind of disappears and they need the type of support network that they needed at home that doesn't exist here."

She says the WCSS is busier around late October and early November, once people have arrived but before the snow has hit. The clouds are low and it's not the happiest place to live. For some of them, the anxieties and stresses they were feeling at home - the ones they had tried to escape by going somewhere new - catch up with them as soon as that honeymoon period is over because, as Tony Soprano once said, "there's no geographical solution to an emotional problem."

Some people end up in a permanent moratorium - a perpetual state of floating.

"A person could go off to wherever they want to travel to, have a great experience and go 'Well screw that, I'm never going back to work because this is a heck of a lot of fun.' It hits their pleasure response in their brain," Marshall says.

She says these people tend to be high-risk sport types who will find every way possible to continue doing what they're doing - exactly the type of people who flock to Whistler every year for what may just be a season and end up staying here quite a bit longer.

"They won't settle down. They won't be more content. They'll never be more content, because contentment to them is high-risk sport," she says.

Like Ben Ashby, perhaps. He came to Whistler two years ago as a first stop on a world trip and has been here ever since. He has no intention of going back to Sydney, Australia where he worked as a mechanical engineer. He hated it there. He'd wake up at 7 a.m., eat breakfast, brush teeth, bike to work, and sit at a computer all day writing specs or altering drawings. Staring out the window at times. Attending meetings. Liaising with people. Holding half-hearted conversations about the weather with strangers at the deli down the road. Go home. Cook dinner. Watch TV. Go to bed. Wake up. Do it all again. Wait for the weekend.

"I hated it. I hated the city lifestyle. My job just wasn't doing anything for me. It's not that I was bad at it, I just had no passion for it," he says, sipping a cup of tea at the very messy kitchen table, of a messy kitchen, of a very messy house he shares with two other guys. A salt shaker knocked over next to a stack of dirty dishes. Beer cans and empty cups scattered around. A bottle of Visine on the windowsill.

"When I finally made the decision to 'retire'" - he laughs - "it just felt right. I don't know why but it just did. I was like, 'I can't do anything else but get out of this. I don't know what I'm going to do but it will all work out in the end.'"

His eyes relax and glaze over, staring out the window in front of him, and it's like he's really going back there, back into the void, in the office overlooking Sydney Harbour on a sunny day when his soul or whatever was crying to break free, to see something else, to meddle in nature and nothing else. But he's in Whistler now and had no problem trading a promising career to live the Whistler Dream, making money as a cab driver. Regardless what his parents think or what some developmental psychologist will say about why he's choosing the life that he has, he says he's happy just to float.

"I guess you could see it like that, but it just depends on what way you look at your life," he says. "I tend to look at it like, just love your life. Be happy with what you've got and don't be striving for something."

Olympic champ Montgomery wins world cup gold

2010-11-27T15:30:00.000-08:00

By BOB MACKIN, QMI Agency

WHISTLER, B.C. - The top step of the podium at the Whistler Sliding Centre ought to have a sign reading “this space reserved for Jon Montgomery”.

The 31-year-old Russell, Man. native won the first world cup skeleton meet of the season Friday on the same track where he won 2009 world cup gold and 2010 Winter Olympic gold.

“If I keep having success here it’s going start to feel like pressure coming back here,” Montgomery said. “The moment you place that pressure on yourself, you’re going to feel the burden to perform and that’s not what helps you realize the best performance.”

Montgomery had a two-run, combined time of one minute, 47.56 seconds, 0.28 faster than 2008 world champion Kristan Bromley of Great Britain and 0.32 better than 2010 Olympic bronze medallist Alexander Tretiakov of Russia.

John Fairbairn of Calgary was 11th. Mike Douglas of Toronto was 13th.

Montgomery’s other two world cup wins were at Cesana, Italy in 2008 and 2009. He said Cesana and Whistler are tree-lined tracks set among dramatic mountains, like Banff, Alta., that offer him a sense of comfort.

Montgomery said his world cup celebration would be subdued, compared to last February's legendary Olympic victory march through Whistler Village with a pitcher of beer.

“I’d probably have to be collected in the morning from the tank or get arrested,” he said. “I think you only get one free pass in your lifetime.”

Instead, he planned to shuck oysters and nurse a pint of beer indoors at his favourite eatery, the Bearfoot Bistro.

“It’s a culinary experience that’ll blow your doors off,” Montgomery said.

The three-day bobsled and skeleton world cup continues Friday with the women’s bobsled and concludes with the men’s four-man bobsled on Saturday.

Whistler Through an Economists Eyes…

2010-11-01T21:55:00.000-07:00

November 1, 2010 by whistlerheather

Whistler Chamber Breakfast

http://www.whistlerchamber.com/

The Whistler Chamber of Commerce invited economist, Bryan Yu from Central 1 Credit Union, to its October breakfast last week. Bryan, who specializes in macro and regional analysis, spoke to recent developments in the global and national economy and what it means for exchange rates, the provincial labour market and the tourism industry. http://www.central1.com/

Bryan Yu

In his presentation, Bryan referenced to the importance of Whistler as an economic engine for the province of BC and how Whistler’s business community can leverage opportunities emerging from the ongoing shifts in the global economy.

Key points:

Approved Destination Status with China now in effect

http://bit.ly/ahkPYC

In June 2010, approved destination status with Canada took effect, enabling Chinese visitors to travel to Canada through organized, pre-sold group tours. Thanks to the approved destination status, tourism businesses, destination marketing organizations and tour operators can actively market British Columbian, Canadian tourism products and experiences within China. Previously, Chinese travellers could get exit visas to Canada only if travelling for study, visiting friends and relatives, business or independent tourism activities.

It is also very important to understand that the middle class in China is growing very fast in numbers and in China that means millions of potential tourists for Canada. (Whistler)

We don’t often speak of South Korea as a powerhouse for tourism, but through Bryan’s report this very active country is definitely spending money in our land; and as such also plays a vital role in where our marketing dollars could also garner higher impact.

Germany as a country has regained strength and is emerging as a country to watch for on the economic radar screen. Already you will find throughout BC a lot of older German investment.

Build it and they will come?

Does Whistler have the infrastructure to appeal to this destination tourist - China, Germany or South Korea? It might be wise to assess our added value and cater to the tourists service requirements - which means we need to find out culturally what that is.

Canadian Dollar and Unemployment

The Canadian dollar hitting parity and staying strong through 2011 will affect our American visitor - along with the on-going struggle the US is up against: Economy (Foreclosures) the weakening of their dollar, Unemployment is close to 10% in the US. The verdict is they’ll be staying closer to home.

Unemployment in BC is at 7.5% – up from 4.5% in 2008

Whistler Real Estate

Whistler is unique on the real estate screen, it carries its own trends and over the next two years will be considerably slower… until the US turns the corner and starts to head in a healthier direction. Today Whistler is predominately regionally driven both in Real Estate sales and tourism. We could create something in the way of value for our local visitor to say thank you for their patronage.

Conclusion

According to the Gov’t of BC our job is to build relationships, through inviting immigration, nurturing our existing visitor upon each trip and delivering service that exceeds the expectations of our tourist. If we can continue this modest goal we will attract more tourism and grow as a country of value for the tourists dollar. We need to make sure we have in place activities beyond the Peak to Peak to keep any potential visitors here in town for a few days…not just a day trip!

http://ww1.whistlerblackcomb.com/p2pg/

Cheers!

Own a piece of Whistler!!

2010-10-19T16:07:00.001-07:00

Whistler Blackcomb to go for $14 to $15 a share, says investor
Sellers looking to sell resort for about $300 million
By Jesse Ferreras

Want a piece of Whistler Blackcomb? Soon you may be able to pick it up for $14 to $15 a share on the Toronto Stock Exchange.

In a preliminary prospectus filed with the TSX on Oct. 8, a group of underwriters including CIBC World Markets, RBC Dominion Securities, BMO Nesbitt Burns, TD Securities Inc. and Goldman Sachs Canada Inc. puts a major stake in Whistler Blackcomb Holdings Inc. up for sale to the public.

The prospectus doesn't include a proposed share price or what stake in a new company - Whistler Blackcomb Holdings Inc - will be up for sale. However, Pat Kelly, a Whistler investor and head of the Whistler Real Estate Company, said he got a call from his stock broker who told him the price for the initial public offering (IPO) is going to be set at $14 to $15 a share, with a six to seven per cent yield on the dividend.

That means dividends could make investors anywhere from $0.84 to $1.05 for every share they own.

Once the underwriters, led by CIBC World Markets, take Whistler Blackcomb around on a "dog-and-pony show" to various investors, the company will be made available for public investment, according to Kelly.

Asked how he feels about Whistler Blackcomb going public, he said he's not surprised. He believes the point of the exercise is to help pay down the debts of the parent company, Fortress Investment Group.

"It's not surprising personally," he said. "I'm not surprised they would take their primary asset and try to pay their debts down. It would be more interesting if that money was going to be reinvested back into Whistler and the mountains.

"It's being used to pay down Intrawest and Fortress's debts, it's not going to be going back into lift operations or more capital infrastructure."

In total, 37 million shares are being made available for purchase, according to Kelly, with 21 million going to the public and outside institutions. Intrawest and Nippon Cable, which appears to have increased its stake in Whistler Blackcomb from 23 to 25 per cent, will own the remaining shares of Whistler Blackcomb Holdings.

The new company was registered Oct. 4. Intrawest CEO Bill Jensen is chair of the board of Whistler Blackcomb Holdings. Other board members include Wes Edens, principal of Fortress Investment Group LLC; John Furlong, formerly chief executive officer of the Vancouver Organizing Committee for the 2010 Olympic and Paralympic Winter Games; and Cam Neely, a former hockey player and now president of the Boston Bruins Hockey Club.

The latter two have likely been appointed to the board in order to bring credibility to the board of directors, Kelly said.

"It's not unusual to put a high profile guy on your board," he said. "Every board member should bring something to the table, operations expertise, connections with important players. Certainly when Furlong walks into a meeting, he comes with a tremendous amount of credibility, so does Cam Neely."

The prospectus provides a broad picture of Whistler Blackcomb's performance as a ski area, something that hasn't been available to the public since Fortress purchased Intrawest in 2006. Whistler Blackcomb is described as the largest and most visited ski resort in North America, representing about 11 per cent of total skier visits on the continent.

Over the last 10 years it has averaged about 11 per cent market share of skier visits in the Canadian market and an approximately 2.7 per cent market share of visits in the North American market.

Whistler Blackcomb has averaged approximately 2,070,000 skier visits a year since 1997-98, when Whistler and Blackcomb Mountains merged into a single company, excluding the most recent ski season.

In 2007-08 the resort saw approximately 2,190,000 skier visits; in 2008-09 it had approximately 1,878,000 skier visits; and in 2009-2010, the Olympic year, it had 1,667,000 skier visits, owing to Olympic aversion. Without Olympic aversion management believes Whistler Blackcomb would have had 2.15 million skier visits.

Whistler Blackcomb's revenues varied over the past three years. In 2007 they totalled approximately $218 million; in 2008, $237 million; and in 2009, $219 million. With expenditures taken into account, the company made a profit of $52 million in 2007; $60 million in 2008; and $51 million in 2009.

Lift operations were cited as the single biggest operating segment for the company, having generated about 50 per cent of the company's revenue in the 2009 fiscal year, and they represent a key revenue generator throughout the year.

Lift ticket revenue from ski operations represents approximately 85 per cent to 91 per cent of the total lift operations revenue, with the remainder generated by summer activities.

Selling points for the company include competitive strengths such as Whistler Blackcomb's citation as the continent's "premier mountain resort," as well as favourable weather and snow conditions, and infrastructure investment such as the Sea to Sky Highway improvement and increased awareness abroad after the 2010 Olympic and Paralympic Winter Games.

Investment analysts have noted that Whistler Blackcomb is not expected to grow significantly - the company doesn't own substantial real estate holdings - so it would be a conservative investment, relying on steady, continuing operations and a loyal clientele.

Whistler Blackcomb is also said to depend on key employees, and the "unanticipated departure" of any key members of the senior management team could have a "material adverse effect" on Whistler Blackcomb and its prospects.

The filing cites key managers including Intrawest CEO Bill Jensen; Whistler Blackcomb President and Chief Operating Officer Dave Brownlie; Doug Forseth, Whistler Blackcomb's senior vice-president of operations; and Stuart Rempel, Whistler Blackcomb's senior vice-president of marketing and sales.

LA Mansion Selles For $50M

2010-10-10T23:31:00.000-07:00

A Los Angeles mansion that originally listed for $85 million has sold for $50 million. It's believed to be one of the highest-priced residential real-estate sales in the U.S. so far this year.

The home, which was owned by real-estate developer Mohamed Hadid, first listed for $85 million in 2009 but most recently asked $72 million. Public records list the buyer as Sarp Turanligil, owner of a Turkey-based yacht and furniture production company. A representative for Mr. Turanligil says he never owned the home, but was managing some business for a company that bought the home and is no longer affiliated with the property. The home has changed titles twice since it was purchased in June, to two different limited-liability companies, according to public records.

The 48,000-square-foot home, known as Le Belvedere, has 11 bedrooms and 14 bathrooms as well as a ballroom that can seat 250. The home has 19 fireplaces, a 5,000-bottle wine cellar, a Turkish hammam, a swan pond and a 70-foot long infinity pool. The estate, on 2.2 acres in Los Angeles's Bel Air neighborhood, requires a staff of about 15, says Mr. Hadid. "It has to be managed like a hotel," he says.

Stacy Gottula and Joyce Rey of Coldwell Banker Previews International had the listing.

Former Daly Estate Sells in Malibu:

The Malibu, Calif. home of the late philanthropist Nancy M. Daly, the ex-wife of former Los Angeles Mayor Richard Riordan, has sold for more than $40 million. It was first listed for $57 million and most recently asked $47 million.

The buyer, listed as a Delaware limited-liability company in public records, intends to lease the 13,000-square-foot mansion on Carbon Beach, according to a source with knowledge of the deal. Neighbors on "Billionaire's Beach" include Microsoft co-founder Paul Allen, David Geffen and Jeffrey Katzenberg. The home, on 0.75 acre with 180 feet of beach frontage, has eight bedrooms, nine fireplaces and a double-height living room with glass doors which slide into a wall. There's also a pool and a sports court. Ms. Daly built the mansion in 2002 after buying the three lots comprising the estate in the 1990s.

Ron de Salvo and Chris Cortazzo of Coldwell Banker Previews International shared the listing.

NFL's Buoniconti Cuts Asking Price on Florida Home
NFL Hall of Famer Nick Buoniconti has trimmed the asking price for his Coral Gables, Fla. home by 18% to $3.48 million.

The former Miami Dolphins linebacker who helped host HBO's "Inside the NFL" in 2005 bought the French-style villa with guest house—the total square footage is 4,600—for $1.98 million. He says his wife Lynn renovated the home anticipating they would move from their Key Biscayne home but "we couldn't leave the water."

Audrey Ross of EWM Realtors has the listing.

Corrections and Amplifications

The Los Angeles mansion known as Le Belvedere that sold for $50 million has changed titles twice since it was purchased in June, to two different limited-liability companies, according to public records. In addition, Stacy Gottula and Joyce Rey of Coldwell Banker Previews International shared the listing. An earlier version of this article incorrectly called the firms limited-liability corporations and cited only Ms. Rey as a listing agent.

—Candace Jackson and Juliet Chung

Golf business reflects shift to regional market

2010-09-19T09:18:00.001-07:00

By Stephen Smysnuik

The shift from destination visitors to a regional market has taken its toll on another side of Whistler business: golf.

Roger Soane, general manager of the Chateau Whistler and chair of Tourism Whistler, says that appealing to the regional market has reduced the rates for golf courses in Whistler. Like most of the hotels, the golf courses have been offering deals to woo customers.

"It's very similar to hotels," Soane said. "As the destination traveler has reduced because of the economics and the times we're in, we've gone to a regional model, so we're attracting more people from the region - which is great but chances are they're not going to pay the same type of rates as the international guests."

Soane says there hasn't been a drop in the number of golfers but the number of people willing to pay resort course fees has fallen.

For the Chateau Whistler, the drop in group business has had a negative impact on the golf course, which was built as an amenity to the hotel. The course is facing what the entire resort is facing: short end bookings and a failing American economy.

"When everyone is going through reduced business, as we have for the last two years, everyone is going to suffer, whether it be golf, restaurants (or) bike rentals. Anything that needs people has seen a downfall. Golf is no different to any other business," Soane said.

A recession that is particularly deep in the United States and a rising Canadian dollar slowed American visitors considerably, a market the resort had depended on. Destination travelers are sticking closer to home.

Earlier this year, Garibaldi Springs Golf Resort shut down after only six years of operation.

"Tourism was so high. The rates that were built around the resort area especially were created to reflect the popularity of Whistler. People came and they didn't really hesitate to pay a premium green fee for a premium product," says Paul Nijjer, general manager of Furry Creek Golf Club.

"While the product is still premium up there, people have tightened up the wallets since then.

He says his course is flat in rounds played to last year, and that "good news" is due largely to the completed Sea to Sky Highway expansion. Golf courses across B.C. haven't fared as well, and many of the courses he knows about are down compared to last year.

"That's not just golf, it's resort visitation in general," said Alan Kristmanson, general manager and director of golf at the Whistler Golf Club. "Corporations are more careful with their dollars and golf as an activity in a resort has definitely suffered from that, for sure."

Ro Davies, manager at Whistler Golf Club, says that while the customer base has changed over the years the Whistler golf club has been doing virtually the same number of rounds year after year.

He also says that the golf club fared better than others during the recession. According to statistics provided by Tourism Whistler, Whistler golfers tend to be affluent and avid players who take leisure golf trips frequently, even during economic downturns.

"People still play golf. We're a great golf course and there's still a bunch of people with money, so they're spending it here," he said. "We have a lot of loyal golfers that support our club and continue to support our club. You hear about courses in the States shutting down but we don't have as much product. You get a small percentage of hotel visitors coming to Whistler so if you get five per cent of those people interested in golf, all the courses in Whistler are full."

"We have minimum inventory a day," Kristmanson said. "It's not like the mountain where you put 18,000 people on the hill... If golf courses are managing their business properly you're going to target the mix of clientele that are coming, and for us that's regional."

Nijjer says there has been a noticeable boost in American tourists playing Furry Creek since the Olympics. The numbers are nowhere near the hey-day levels of the late 1990s and early 2000s, but any increase is good news.

"The rounds came down, there was a decrease, but if you were proactive enough in creating opportunities for people to play, they still came," he said. "It's such a sport that people absolutely love to play... it's consistently going to be at the forefront of activities that people will like to do," he said.

The economy is only part of the problem. The other problem, according to Soane, is that golf has become too big to sustain itself. In the U.S. in particular, where the real estate market drove the development of golf courses, there's a surplus of courses versus golfers. This isn't as much of an issue in Canada, which has the highest player rate per capita in the world, but it has affected business in Whistler.

"Golf, I think, as a product is over built, and I think the sport itself in its evolution has reached a peak," Soane said. "For the longest time, there was more and more golfers added every year and there was a great growth in golf. I'm not sure that's the case any more.

"I honestly believe golf as an industry has become too expensive," he added.

"A golf course will set its rate based on the times," Nijjer said. "When the economy is strong, it's easy to raise a rate and because of all the things that go in to the daily operation of a golf course you need to maintain a daily rate in order to have a successful operation. What ends up happening is you have to build opportunities for golfers of all types to come and enjoy your facility."

But with all the challenges facing the golf business in the Sea-to-Sky, there is optimism for the future of the sport. The four courses - Whistler Golf Club, Chateau Whistler, Nicklaus North Golf Course and Big Sky Golf and Country Club in Pemberton, have worked together to focus attention on the growing interest of women and junior golfers, offering a junior golf camp and ladies night. Targeting the younger demographic is of particular concern, as many have feared that as the baby boomers grow older the younger generations may not play in the numbers needed to keep the industry afloat.

Nijjer says that's not the case, noting that Furry Creek has a high proportion of players 21 to 35 years old.

"(The shift from older to younger players) will deplete the average amount spent per person, as with the baby boomers because they were spending the money, whereas the youth are a bit tighter with it. Then again, when you create the opportunities, you'll get them to your facility," he said.

"There's no reason to tell me that this won't turn around," Soane said. "As corporate business comes back, you'll see the golf courses becoming more prosperous again, but I also believe as an industry golf has to take a close look at itself and say, 'Are we priced in comparison to other activities?'"

The Great Comeback of Luxury Properties

2010-09-10T22:09:00.000-07:00

September 9, 2010 · Published in Jerseys by zhanglingjuan114 ·

Recreational and luxury properties were the hardest hit when real estate markets took a nosedive a few years back. The global financial crisis had led to the downfall of a lot of property development projects. In fact, most industry experts had described the high-end segment of the real estate market as one enormous sinkhole.Faced with increasing construction cost,If you can’t afford to buy luxury brand watches, the best choice for you is to buy nba jerseys. tight financing and dwindling sales, a lot of development projects went down the drain even before they could enter the market.

There is now a renewed interest in recreational and luxury residences. In fact leading indicators
seem to show that this segment is well on its way to full recovery. Nonetheless, most marquee developers are still reluctant to ride the tide to recovery and plunge into action. Since most development companies took a serious hit a few years back, they could not afford to overextend themselves unless the real potential of the real estate properties is carefully assessed.

Is it time to buy recreational or luxury residences? Real estate players are not aggressive this time around. Property developers and industry experts alike were caught off-guard when the full impact the financial crisis finally reached the high end segment of the real estate market. They were blindsided by the unexpected turn of events and the rate at which the market dried up at the height of the global financial crisis. When the problem was at its peak, sales of these properties went zilch.

Notwithstanding the gravity of the situation then, the real estate markets made a strong rebound, and things are looking good again for real estate markets. Developers are again operating in positive territory, and the figures that are coming in point to a strong comeback across all segments of the real estate market.

What led to the dramatic shift? Experts attribute this positive development to the prevailing mindset of sellers. The global financial crisis had left a deep scar in the mindset of major stakeholders and high-priced property investors. Most, if not all of them, went into selling mode with the primary objective of unloading from their current portfolio high risk assets. The prevailing mood among these property investors was that they have missed the peak of the market, and they are left with no other option but to sell even below the assessed value of their properties.

This market situation bodes well for potential buyers of this type of properties. In urban centers, real properties with selling price above $3 million will attract few buyers, and in most cases it will take longer time before such properties are sold. The prevailing mood among sellers is that of the urgency to move the properties as soon as possible to cut their losses.

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Despite the positive development in real estate markets and encouraging leading indicators, experts are quick to point out that a recreational property is far from being a homerun purchase. Although there are great deals in the high-end segment, basic rules in real estate still apply. This means that the three most important variables that must be considered by buyers are location, location and location. For the high-end segment of real estate market, location is the number one driver of property values.

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Buyer’s market conditions continue in Greater Vancouver

2010-09-08T20:04:00.000-07:00

Tuesday, September 7, 2010

by RE/MAX Real Estate Services on Tue, Sep, 7, 2010 12:09 PM

VANCOUVER, B.C. – September 2, 2010 – Conditions in the Greater Vancouver housingmarket continued to favour buyers in August. Since April, prices have edged down slightly as the number of sales and the number of properties coming on to the market have been declining.

The Real Estate Board of Greater Vancouver (REBGV) reports that the number of residential property sales in Greater Vancouver totalled 2,202 in August 2010. This represents a 36 per cent decline from the 3,441 sales in August 2009, the second highest selling August ever recorded, and a 2.4 per cent decline compared to July 2010.

From a wider perspective, last month’s residential sales represent a 40.4 per cent increase over the 1,568 residential sales in August 2008, a 34.9 per cent decline compared to August 2007’s3,384 sales, and a 26.6 per cent decline compared to August 2006’s 2,998 sales.

New listings for detached, attached and apartment properties declined 17.5 per cent to 3,750 inAugust 2010 compared to August 2009 when 4,544 new units were listed. Total active listings in Greater Vancouver currently sit at 15,421, a 6.1 per cent decline from last month and a 29 percent increase from August 2009.

“We’re seeing moderate demand, low interest rates and a healthy but slowing stream of supply inour marketplace, all variables that favour those looking to purchase a home,” Jake Moldowan, REBGV president said. “The last few months have also shown some stability when it comes to price fluctuations in the region, which is a welcome trend after reaching record highs in April.”

Since spring, housing prices have decreased 2.8 per cent compared to the all-time high reached in April when the residential benchmark price was $593,419. Over the last 12 months, the MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver increased 6.9 per cent to $576,597 in August 2010 from $539,600 in August 2009.

“Canada remains an attractive destination for foreign buyers, a fact that continues to affect activity in the Greater Vancouver housing market,” Moldowan said.

Sales of detached properties in August 2010 reached 893, a decrease of 34.7 per cent from the 1,367 detached sales recorded in August 2009 and a 66.9 per cent increase from the 535 units sold in August 2008. The benchmark price for detached properties increased 8.5 per cent from August 2009 to $795,076.

2010-08-31T21:52:00.001-07:00

In a slower market like most of North America is experiencing, when is the right time to make a purchase? I think it comes down to the question: Is it a residential personal property or a resort property purchase?

Residential:

If it’s a residential property the main focus for the property is not investment but instead shelter and forced savings. Whether the market is declining or stable we all need a roof over our heads and thus not so dependant on timing. The important factors are interest rates and income that will factor into the mortgage and affordability.

Resort:

If it’s a resort property, your purchase could be for two reasons – as an investment or a lifestyle choice. As an investment, using an accountant and having a look at the revenue statements together with purchase price will decide your ROI (rate of return on investment) thus helping you make your decision.

As a lifestyle choice, it’s mostly based on emotion – where you are at in your life and personal enjoyment. Because we can take our computers and work with us on vacation it is making more sense today to pack up the family and have a place to go to on a more regular basis. Making a lifestyle choice purchase comes down to having a tangible asset opposed to having your money tied up in something you cannot touch like the stock market.

Timing:

A very important part in purchasing a resort property is timing due to a number of factors.

•seasonality (ski season, summer season, holidays, low rental season, school, personal holidays)
•mortgage rates
•exchange rates
•economic stability
•weather patterns
•your tax year
•purchase price
We’ve decided to touch on a couple of the above points that relate to Whistler. First and far most: our ski season. Most people choose to purchase prior to ski season to maximize their rental revenues during the peak season… i.e. Christmas/New Years is a popular time to bring families together. Historically this time of year has had phenomenal snow by mid December. For our American friends, their Thanksgiving falls in late November and this has typically been a popular time to take possession of a property. For both our local community and investors great consideration needs to be paid to homes with tenants. There are strict regulations under the BC Tenancy Act in regards to dealing with homes involving tenants… 60 days notice or are the tenants under a locked in lease? More detailed information can be found at: http://www.rto.gov.bc.ca/

Closing:

Typically a property takes anywhere from 30 -90 days to complete. Although closings can happen earlier and if the property is under construction it could take a lot longer. If the property is owned from someone other than a Canadian, a clearance certificate is required and could take up to 8 weeks or longer. Completion for a quarter share property can be orchestrated towards the next months owner’s usage.

Conclusion:

When it comes to purchasing real estate (especially in a resort) working with a local licensed real estate representative will always be your best choice. Start your search for a home with the end dates in mind, be pre-approved for the financing and make sure your deposit can be liquified within a one week time frame.

Special thank you to Carolyn who help write today’s blog while aboard the BC ferry – Women of Whistler fishing derby!

Why isn't my house selling??

2010-08-31T21:30:00.000-07:00

I have written a few blogs close to this subject before – lately however I have been asked to write on the following specific subject. “Why isn’t my House Selling?”

Most important – Price

If your house has been on the market for more than 4 months I would venture to say your price is too high. I would suggest you have your real estate representative prepare a new market analysis and consider only the most recent subject deals and sales. In a declining market it only takes two months for your property to become stale, you do not want to get into a spiral of following the market down. All homes will sell in any market it comes down to the value a purchaser perceives.

Restart the process

Take another good look at your competition - this would be any homes for sale around you or similar to yours in another area… think of yourself as the buyer and what you would look at if in the market for a home - if those properties still have not sold and you believe they show better than your home, you need to get your home priced below them. If your neighbor sells before you and the buyer picked their home over yours, your price in most cases needs to be below their sale. Unless of course the buyer could not afford your property and your property is bigger and better.

Motivation

While being motivated to sell is very important – I strongly recommend you figure out your needs versus your wants. Having to many homes for sale by sellers who are less than motivated creates a glut of homes and hurts the real estate market. As you know supply and demand determine price. An over abundance of supply sits, stagnates, and can often be used as a negative example of an over priced home in a buyers market. If anything remove your home from the market and seriously consider what improvements you need to make before entering the market again. I find a period of butting heads that goes on when a market change is clear, the buyer is expecting a great buy and the seller is refusing to negotiate. What tends to happen is our ego steps in and all sense and reason go out the window. I can relate as I was considering selling this month as well – and when my representative gave me the price and motivation speech, I was less than willing to listen to the realities of todays’ market.

The perfect “Doll House”

Top Ten Things to Do

1.A new market analysis (every 30 days)
2.Review the marketing efforts/ Incorporate Social Media
3.Have at least 8 pictures / video on MLS
4.Kitchen and Bathrooms need to be spotless
5.New paint / carpet
6.Showhome condition / stage
7.Open houses
8.Just reduced/listed cards to neighbors
9.Get feedback from potential buyers
10.Make sure you have the right agent!

Whistler Real Estate

I will admit Whistler has its unique differences to residential markets but the over all economy reflects our buyers ability to purchase homes. If our consumer feels worried about their own financial portfolios it takes more time to make a decision and sometimes up to five visits back to the resort to seal the deal. Patience is not always our virtue, nor is time always on one’s side. I still firmly believe that value sells and sometimes it takes more than one persons opinion of what that value is. Such as an investors value of Phase II properties in Whistler, the prices and cash flow make sense today. The abundance of supply on the market in Phase I & the residential market make it a great time to shop for your life style choice. If you’re a buyer – make your decision and move on it. If you’re a seller – price it right the first time.

Written by Heather Clifford

1000 Awesome Things!!!

2010-08-24T21:16:00.001-07:00

http://1000awesomethings.com/the-top-1000/

Why Now Is A Great Time To Invest In Resort Real Estate

2010-08-22T18:50:00.001-07:00

August 22, 2010 When Headlines Don’t Match The Real Data

Real estate, like life, follows a series of cycles. Whether you consider it locally, nationally, or globally – it’s an eternal exercise in ebb and flow, but one that over time tracks continually upwards. While the mainstream media is currently focused on eye-catching headlines reporting supposedly dire real estate economic conditions, it fails to recognize – and certainly fails to report – the differences between national, regional and local data, as well as the vast chasm between the primary vs. the vacation/secondary home market.

Current news trends amplify the real estate woes of only a handful of areas in the U.S., where speculating by ‘flippers’ and sub-prime loans to primary homebuyers have, admittedly, caused significant real estate downturns. However, while these issues affect perhaps 10% of the States in this country, markets in a large portion of the other 45 states are experiencing everything from a modest gain to a near-record high real estate environment.

One of the strongest segments of those rising market areas is the resort or vacation/second home market. Because of the nature of this market – where buyers are generally well-funded and financially capable of pursuing vacation or possibly future retirement area options – this real estate segment is typically less volatile than primary or investor-driven markets. Highly-leveraged buyers, those that help create volatility, represent only a small fraction of the resort/vacation/second home markets.

As a result, the economic forecast for this portion of the market continues on an upward swing. In 2006, vacation home sales accounted for 14% of all the nation’s home sales – according to the National Association of Realtors (a 2% increase over 2005). And even in the current economic climate, it is anticipated that 2007 statistics will continue to hold strong.

In fact, according to real estate market analysts such as renowned economist Harry Dent, the success of the resort/vacation/second home arena is truly nothing more than a simple ‘numbers’ game — driven by the sheer volume of Baby Boomers venturing ever closer to the retirement horizon.

“Rising Baby Boom birth trends…show a rising wave of peak vacation-home buyers from 2000 into 2024,” according to The Next Great Bubble Boom (H. S. Dent, 2006).

Indeed, the combination of the financial resources of the post-WWII generation, coupled with the continual rise of technological advances indicate a profound reinforcement of this prediction. No longer tied to the physical constraints of living in the city to remain commercially productive – Boomers are now recognizing their ability to live where they can play…….and rely on technology to maintain their career connection. As indicated by the chart below, the next great migration wave is off to the small towns and resort communities………and that’s precisely where the resort/vacation lifestyle is to be found.

All of these statistics and forecasts for the future of resort real estate, however, seem to fly in the face of what can only be considered by the news media: a “Great Bad News” reporting event. So it’s not surprising that the data of the past, current and future trends that investing in resort/vacation properties is well-supported – specifically those resorts located in the Rocky Mountains – is rarely seen.

In the more well-known and long-established ski resort areas – such as Jackson Hole, Wyoming and Aspen, Vail, Breckenridge, and Telluride Colorado – during the past 10 years, the value of resort properties purchased in these markets has risen from 23-28% annually. 2006 saw record results, with 2007 on track to break even those records. Condominiums typically lead this market with homes in a close second position — and as the Rocky Mountain lifestyle lends itself to year-round enjoyment of these second-home and resort properties – these statistics should really come as no surprise.

But the truth is – you won’t see them making headlines anytime soon.

Perhaps for the savvy real estate buyer, though — that’s good news. Few things are more satisfying than having done your own research, which leads you to making an advantageous and unique real estate investment. The Rocky Mountains cut a wide swath through the western U.S., and offers some of the most spectacular recreation, landscape, and lifestyles imaginable.

Look for resort areas that are earlier in the growth curve, and have a large, financially secure entity that supports massive infrastructure and community amenity improvements. These may include government supported improvements (roads, utilities, airport upgrades, etc.) or amenities (new ski lifts, golf courses, conference facilities and waterparks) that are developed by well-funded companies with a proven track record for quality. Whistler, British Columbia is one example of a location that had both strong government and corporate support twenty years ago, and real estate values have more than tripled there over the last decade.

While resorts like Aspen, Vail, Sun Valley and Jackson Hole are in their “maturing” stage, look towards those areas that have just recently “hit the radar screen”, like Central Oregon (Bend), Couer d’Alene, ID, Whitefish, MT and Kellogg, ID.

By purchasing in one of these “up and coming” resort areas, a smart buyer can still stumble into a ground-floor opportunity – similar to those seen in Vail and Aspen twenty years ago.

It’s simply a matter of reading between the headlines.

9 Lives Adventure

2010-08-19T10:05:00.000-07:00

Aug 18, 2010 1:05pm

By Dee Raffo

"I would rather die than be paralyzed." This is what Karen Darke thought the night before falling off a cliff at age 21 and becoming paraplegic with no feeling from the chest down. If we are honest, this is the attitude most of us would have, but read on. This story highlights the determination, ambition and downright refusal to live life at anything less than full throttle.

I met Karim Ladki at the end of June at Whistler's Trade Show, where local businesses and organizations were exhibiting their summer adventure products. His t-shirt was the first thing that caught my eye, a distinctive cat emblem with the name "9 Lives Adventures" across the front. Immediately I was intrigued. As he shook my hand he started to explain the logo and his reason for coming to the adventure mecca that is Whistler.

9 Lives Adventures is the brainchild of Ladki and best friend Matt Thola, rooted in an adventure of Ladki's own.

Like most people the travel bug had become an itch they just had to scratch and these boys had their sights set on Africa. The only consideration they had was that Matt is in a wheelchair. Back in May 2006 he was involved in a car accident that resulted in a spinal cord injury that left him unable to walk. Even though they shared the same sense of adventure and ambition, the thought of pushing a wheelchair through villages and on dirt roads depressed them both.

"I will never forget the day I told my friend Matt Thola I was going to Africa. He was genuinely happy for me, but you could tell he was eager to propose that he come. Instead, he replied 'I wish I could go'."

When Karim returned his head was spinning. Although it would have been a tougher journey he believed that the idea of Matt joining him would have been totally realistic. With an enthusiastic partner the cogs started to turn on an idea that would hopefully pave the way for more disabled travellers searching for the same excitement and adrenaline rush that these two were after.

"We are here to open up the world to every able person who has a strong mentality and has a will to fight for more in life. Together we will explore a path of adventure, excitement, and stimulation best fit for different individuals and different disabilities."

After meeting Karim, a quick search on the net revealed similar stories of grit and determination in overcoming disabilities. His statement reminded me of a quote that I had read from Karen Darke's website, which is the perfect example of making what seems an impossible task just another adventurous challenge.

"Someone once said to me, 'Disability is a state of mind not a state of body.' That's a notion that relates to us all, regardless of whether we have a physical disability or not. Our own mind is our biggest obstacle to living and achieving our wildest aspirations. What is life if it isn't an adventure? I'm constantly amazed by what can be achieved if we set our heart and mind to it. It's all about finding belief, confidence, motivation and commitment. And of course, friends. Then there are no limits."

When I started writing this article I was worried about the term 'disabled,' perhaps thinking that it is a far too broad a term to cover the intricacies that it tries to convey. However, I think Darke knocks it on the head - being disabled is a state of mind and more of us suffer from that than I think we realize. Overcoming our disabilities is a constant battle and simply part of life.

While researching, I came across another inspirational athlete that really threw my sheltered view of "disabilities" out the window. A few years ago I read Touching the Void. Written in 1988 by Joe Simpson, it's the tale of two climbers who have a series of accidents, which leads to the heartbreaking decision to leave a man behind. However the injured climber makes it back to base camp after dragging himself down the mountain and back to safety - a tale of pure human determination to survive.

BUT just imagine the strength of mind it would take to START by dragging yourself up the mountain and knowing that was the only way you were ever going to do it. Warren MacDonald has traveled around the globe, summiting Cradle Mountain and Federation Peak in Australia, Africa's Mt. Kilimanjaro, and America's tallest cliff face, El Capitan. What might surprise you is that at age 31 he was trapped under a one-ton boulder after a freak rock fall in Northern Queensland, Australia. His legs had to be amputated mid-thigh. You can imagine the possible responses to this situation (and Matt Thola and Karen Darke would have faced the same life changing moment). However his positive attitude was unwavering. The doctor had said he obviously wouldn't walk again and here was his response:

"I don't recall him saying anything about cycling, kayaking or climbing mountains..."

Karen also sees no limits. She is hoping to be part of the British Para Cycling team and is also preparing for a expedition to the South Pole in 2012. The team is called "The Pole of Possibility" (visit the links at the end of the article to see what it takes and donate to help her get there).

"Nothing is Impossible when we are prepared to face our fears, and believe in ourselves" - Warren MacDonald

With no limitations other than those we place on ourselves, adaptive sports have come a long way in a short space of time, the epitome of "if there's a will, there's a way."

After being in town to witness both the Olympics and Paralympics I was stunned by the courage and determination of both the able and disabled athletes. Canada came away with ten gold medals, five silver and four bronzes at this year's Winter Paralympics.

Canada's "Golden Girl" Lauren Woolstencroft contributed five of the ten gold medals in the alpine ski race events, setting a new Canadian record. Lauren was born missing both legs below the knee and her left arm below the elbow, but this BC Hydro electrical engineer has never let it stop her. She began skiing at the age of four, and has now set a benchmark of excellence for all her fellow athletes to follow, becoming a national hero in the process.

"If you can hear the crowd," she said, "then you're going way too slow."

Our first Canadian gold medal winner in the Paralympic games was Whistler's Stacy Kohut in Lillehammer, 1994. He broke his back in 1992 but continued his career in action sports - he just happens to be in a wheelchair.

"Society sure has a very, very rigid view of what someone like myself can do. I take a much broader, rounder approach to what I can do and that's my job. The people in wheelchairs and people with disabilities can do whatever they want. Just give us the ball, we'll run with it."

Kohut owns a bike called a Fourcross, which is a four-wheel downhill mountain bike. His stunts and athleticism are amazing, but he doesn't see it that way. While he acknowledges that disabled people are inspirational, when you're an athlete you're just another competitor wanting to be the best - and that's the pure entertainment value.

"These things, these wheelchairs, four-wheel mountain bikes and sit-skis, you know what they are? They're wings. I put these on and I get a set of wings and I can fly anywhere," says Kohut.

When Karim began to talk about his adventurous friend I started to wonder just what was out there for disabled people, how far they could push themselves and how much companies can facilitate and adapt to be inclusive of all abilities.

The Whistler Adaptive Sports Program (WASP) works hard to make alpine recreation accessible to everyone and is a centre of learning and sports excellence. It encourages independence, self-confidence and self-motivation for all participants. Chelsey Walker, WASP's Executive Director, said that when they initially started the program in 1999 they were delivering approximately 50 ski lessons per season. Now, that figure is up to 1,400. She anticipates a 300 to 400 per cent increase in summer activities, moving into canoeing, kayaking, hiking and biking.

"Hosting the Paralympics in Whistler created tremendous awareness in the disability community as to the services that the Whistler Adaptive Sports Program had to offer," said Walker. "In 2005, the Whistler Adaptive Sports Program created a vision document that outlined our want to lever the most we could out of being the local Adaptive Sport Organization in the host mountain resort. This vision, along with initial funding by Scotiabank, allow us to hire a full time year round executive director. Their mandate was to create a Whistler Centre for Adaptive Sport which would directly benefit from Games Legacies. I am happy to say that we have been successful in achieving that vision and now operate ten sports/programs on a year round basis."

WASP is a registered non-profit charity with funding from the Resort Municipality of Whistler, foundations, fundraisers, donations and private corporations. With no guaranteed funding, finding donations is a task that Walker is continually working towards.

Adaptive sports are not cheap; a handcycle can set you back $3,500 and a sit-ski from $2,500 to $5,000. These sports are made accessible to the average participant by WASP subsidizing the cost of participation to a more reasonable level.

So what's next for WASP?

"We are working on a capital project, the Jeff Harbers Adaptive Sports Centre," said Walker. "The initial funding for the project came through a bequest that Jeff made to the Whistler Blackcomb Foundation. We have since received funding through Scotiabank, the American Friends of Whistler, the Pan Pacific and Dubh Linn Gate, the Delta Whistler Village Suites and the Troustmen Club of Leisure. We are very close to finalizing the fundraising aspect of the project and anticipate completing the building in 2011. The Jeff Harbers Adaptive Sports Centre will be located at Olympic Station on Whistler Mountain."

I had the opportunity to head out with Canadian Snowmobile Adventures with Karim and Matt on their single track ATV tour "Call of the Wild." As the name suggests, Matt wasn't taking things slow or easy; I was in for a ride!

We meet at the Carleton Lodge; they're early and keen. I haven't met Matt before but before I know it he's shaking my hand and we're talking about the trip. He has no nerves or worries and his excitement is contagious as we head over to the bus.

This is our first hurdle; Karim had explained that Matt's attitude was if he wants to do it, he will. Karim lifted him in as his other friend Alex Relf, folded down the wheelchair and got on board. That was it; no drama, no fuss. We had a 20-minute drive out to the Callaghan and Matt's already chatting up the ladies who are up on a girl's weekend away. I ask Karim what they need to think about each time they do a trip like this and he explains it's all about preparation. He laughs as he says that Matt and himself aren't the best at being organized, but they're working on it.

They bring a backpack, which contains necessities such as catheters, gloves and different medications. He has to try and keep himself and the medical supplies sterile to avoid infection. I look at the dirt and dust as we pull into Canadian's base in the heart of the Callaghan; Matt follows my look and grins.

We are anxious to get out on the trails, Liz, our guide has promised us some gnarly single track and we're pumped. We skip taking Matt up to the cabin; the winding staircase puts us off, and besides that he's already heading over to the ATVs, lined up ready to go. As I pass him a helmet Karim offers to help him on, but as he says it Matt has already hopped onto the machine and is settling himself in. His upper body agility is amazing and we joke about his "guns," which like many wheelchair athletes are pretty impressive. As the others head over to their machines I mention I'll be at the back to stay out of the way. I only hope I can keep up.

Out on the trails we do a mixture of tree covered singletrack, open rocky vistas and dusty logging roads, which we really push the speed on. As I predicted I am finding it hard to keep up but the frequent stops for photo ops mean that I don't have to panic too much. I am watching Matt from behind and on the bumpy sections finding it hard to contemplate how that would feel if I could only use my arms to steady my body. My heart leaps as he slides dangerously to one side; he quickly rights himself but has come to a stop. I assume he wanted a break, however he just asked me to move his foot back into place, after that was done we were off again.

Liz takes us to some amazing spots where we look over the entire valley; we can see Black Tusk in the background and around the corner is a waterfall pounding at the rocks below. It is truly amazing.

Back in the village we decide it's time for a drink. However, Matt is so pumped he is watching the mountain biker's head down the hill and contemplating his next adventure. People stare at us as we enter the bar; we are covered head to toe in thick dust, apart from the band around our eyes where the goggles were. Now we have bonded over a three-hour ATV tour I feel I can ask some more serious questions.

Matt was the passenger in a car that hit a lamppost at 180 km per hour and Karim dived from a boat into shallow water, landing headfirst. Both broke their seventh cervical vertebrae and both are lucky to be alive. This is what inspired the name "9 Lives Adventures" - they had a close brush with death and used up a life, and now the question is what to do with the rest of them.

Karim and Matt only met each other a year ago but I feel as if I am amongst brothers. Karim saw Matt struggling with groceries when they were both over in Victoria and after having a chat they both hit it off and with their shared experience and common ground. Now they are sitting in Whistler, B.C. hitting us up for all of our adventure sports. The week's agenda includes bungee jumping, jet boating and rally racing. They have just come from Ucluelet where Matt tried surfing and kayaking.

He really feels that there are no limits. He admits to having had some dark moments but it's hard to imagine that now; he's so full of life and a smile is never far from his face. They are off to Australia and New Zealand for their next set of adventures (you can follow their blog to keep up to date).

As I say my goodbyes I hope that I will remember this experience for the rest of my life. When faced with adversity they have conquered it and come through on top. I can only hope that if it is something that I ever have to deal with that I will have the courage, grace and determination that all these people have in abundance.

"We are alive. We are individual. We are able." That's the 9 Lives Adventures slogan.

www.9livesadventures.com

http://www.karendarke.com

http://www.warren-macdonald.com

www.whistleradaptive.com

2010 Second Home Trend Report

2010-08-17T08:58:00.000-07:00

August 16, 2010 4:05 AM EDT

The 2010 Second Home Trend Report indicates 45% of existing second home owners believe that now is a good time to buy an additional second home.

(PRWEB) August 16, 2010 -- E360’s Second Home Trend Report, surveys existing second home buyers on the preferences of timing, attributes, location, and pricing of an additional second home purchase.

Of those 45% indicating that they are in the market for a second home, Mexico is the top international destination with more than half of the total interest. E360’s Global Research Analyst, Chad Martin said “although only half of our respondents believe now is a good time to buy, it is impressive that there is a strong second home contingent looking at a market like Mexico.”

More impressively, of the remaining 54% who indicated that now would not be a good time to buy 79% indicated that they would be likely or very likely to purchase in the next 2 years. Martin says “this is a strong indication that demand will continue to grow over the next two years and will strengthen the second home market”.

As consistent with current market trends, lifestyle and vacation attributes are the leading motivator at 46% for second home buyers with investment purposes coming in next at around 41%. Second home purchases for the purpose of retirement ranked 3rd at just over 11%.

The desire for a second home geared for vacation purposes is not a surprising finding. Martin said “this is a consistent trend with the preferred attributes of the buyer being water views and proximity to water or mountain activities.” Lake and ocean views combined for an overwhelming majority of the preferred attributes surveyed with mountain views coming second.

Martin adds “While spa and medical facilities have exhibited recent high growth rate forecasts in recent studies respondents did not translate that growth into the highest motivation for a second home purchases. Green based second homes did not show the highest appeal translating into a purchase motivation. Golf has not clearly shown itself as primary appealing attribute as it translates to real estate buyers when compared to other second home attributes.”

Although most respondents indicated they would be looking in International markets for a second home, nearly 49% of purchasers will be looking domestically. “although most of these buyers plan to wait 1-2 years, this is great news for the US Second Home market. Over the next few years we anticipate that the second home market in the US that are focused 100-1000 miles from highly populated areas will see an increase in demand.”

According to the study, 40% are looking at areas 500-1000 miles away and nearly 30% are looking from 100-500 miles away from their homes. The numbers over 1000 miles dropped significantly to 11%. This supports the trend that of those interested in a domestic or Mexico second home market, nearly 39% of buyers are looking in rural areas throughout the US.

Of the same second home buyers looking at a US purchase, 49% are looking for a single family home and 60% preferred a smaller 2-bed, 2-bath floor plan.

These respondents are interested in the $200,000 to $400,000 price range and 60% are not interested in receiving financing for the purchase.

Woods at Rainbow

2010-07-14T22:02:00.001-07:00

How to Keep Email From Killing Your Company

2010-07-14T18:03:00.000-07:00

Jul 07, 2010 -

Managing email now accounts for about half of the average employee's workday. It's an overused tool; and because of its sheer volume, can lead to miscommunication, conflict and more time taken out of the workday.

"Multi-tasking” with email may make you feel busy, but it doesn't drive results. You can’t check and reply to emails constantly while trying to focus on your important tasks for the day.

Yes, email helps us, but the people getting the most done are not checking email first thing in the morning or all through the day. The most productive people are the ones who start their days by working on their most important task.

When task one is done, they start on task two. Only then do they get to their email.

You’ve probably heard this dozens of times. So why are you still choosing to be unproductive by constantly checking email?

Stop the Insanity

Your company likely needs to reply to customer inquiries fast in order to avoid losing a deal or hurting your brand. For this, designate employees who are responsible for checking email frequently. Surely not everyone in your company has to be glued to their inbox. For you and your employees not on fast response duty, try these tips for handling high-volume email.

Limit the use of cc: and reply all. Be selective and think before you send, ‘Do each of these people really need to read this?’
Don't use emails to bounce ideas off people and discuss things. Push people to make lists of things they want to discuss, share, question, etc. that they should then bring up in one-on-one or team meetings.
When sending anyone an email that requires action, add to the subject line or first sentence the date/time for when a reply is needed so those receiving the email know how to prioritize.
Indicate if the email requires Same Day reading by marking it as High Priority.
Put CLEAR instructions at the top of all emails as to what you want the readers to each do with it.
If you’re a business owner or top executive and don’t have an assistant, then get one. A good friend of mine once said, “If you don’t have an assistant, you are one.” Get an assistant to manage your email for you.
Your email inbox should be empty at the end of each day: ALL emails anyone gets should be Read once, and then either acted on immediately if urgent, delegated to the proper person, or dragged to one of these 3 folders: End of Day, End of Week, or Casual Reading (I delete these if older than 2 months).
My recommendation: Do Not check your emails before 3 pm unless you are quickly scanning for an expected reply. You have more important things to do. I mentored a CEO who only checks his emails on Friday. And he’s still very actively involved in his fast-growing company.

In his best selling book, The Four Hour Workweek, Tim Ferris popularized the use of auto replies, which you can set up to tell people when to expect you to read and reply to their emails.

Bottom line: Find the right environment for you to focus and your productivity will improve – and so will the quality of your work. Try turning off your cell phone, shutting email and just focusing on projects for a little bit each day. You’ll be amazed at how much you get done.

Cameron Herold is the founder of BackPocket COO, where he coaches CEOs and entrepreneurs, and the former COO of 1-800-GOT-JUNK? He is a speaker resource for the Entrepreneurs Organization http://www.eonetwork.org and Young Presidents’ Organization http://www.ypo.org, global networks of more than 24,000 business leaders in over 100 countries, and has spoken to entrepreneurs in 17 countries and in groups as large as 2,000 people. His blog can be found at http://www.BackPocketCOO.com/blog.

Are you fit to sell - Depersonalizing

2010-07-09T15:12:00.000-07:00

Are you fit to sell? - Curb Appeal

2010-07-09T15:09:00.001-07:00

Are you fit to sell?

2010-07-09T14:21:00.000-07:00

BC's 100 Top Companies By Revenue

2010-07-08T17:02:00.001-07:00

http://www.bcbusinessonline.ca/files/2010_Top100_Overall_10.pdf

2010-06-29T12:21:00.000-07:00

Chinese investors fuel population growth in B.C.

By Todd Coyne, Vancouver Sun June 29, 2010

The population of Canada has surpassed 34 million, and British Columbia again has the highest rate of growth among the provinces.
According to new Statistics Canada figures, B.C.'s population grew by 16,626 people in the first four months of the year, bringing the total to 4,510,858 residents.
The largest driver of this immigration boom?
Chinese investors.
According to the B.C. government's most current statistics, Asian immigrants made up nearly three-quarters of new arrivals to B.C. in 2009 (29,455 of 41,434).
Of these, 9,375 were Chinese, ranking China well ahead of second-place India's 6,078 immigrants and the third-place Philippines' 4,623.
Perhaps most surprising, however, is that well over a third of these Chinese immigrants -- 3,977, to be exact -- are categorized as financial investors.
Compare this with the 101 Chinese immigrants classified as entrepreneurs.
Or the mere 42 and 64 investors from India and the Philippines, respectively, and a picture begins to emerge of a new kind of migrant to Canada's West Coast.
According to Henry Yu, an associate professor of history at the University of B.C. who specializes in Chinese immigration, the new wave of Chinese investors are, in fact, coming more for lifestyle reasons than investment opportunities.
"I'll tell you: What they're not coming here to do is to make a lot of money. It's very hard to make money in Vancouver compared to, say, Shanghai or Beijing," said Yu.
"So even though government programs may be opening doors to them as business investors, it's not actually a great place to invest to make high returns."
It is a good place, however, for economic and social stability, higher education, and a better quality of life, Yu said.
According to Yu, although most of the Chinese investors coming to B.C. are still chiefly wealthy, business-oriented men, they are turning their backs on China's booming economy, opting instead for "the good life" in the Lower Mainland.
And, when they can, they're bringing their families.
"During earlier waves you had a different set of ethnic Chinese from Hong Kong, and these were very different people that were coming in the late '80s, early '90s because they wanted to basically have a way out ... in case things went sour after the handover.
"And they stopped coming, basically, in 1997."
According to Yu, those who are still coming to Canada with ambitions of wealth are bypassing Vancouver and heading for Toronto.

tcoyne@vancouversun.com
© Copyright (c) The Vancouver

2010-06-14T21:21:00.000-07:00

Second Homeownership and Interest in Vacation Rentals Continue to Remain Strong through Economic Recession

RISMEDIA, June 4, 2010—Second homeowners who rent their homes to travelers, on average, generate more than $35,000 in rental income each year, according to HomeAway, one of the world’s leading online vacation rental marketplaces which recently released its quarterly “HomeAway Vacation Rental Marketplace Report.”
On average, second homeowners are renting their properties to travelers 20 weeks a year, and the rental income generated is helping many owners offset mortgage and upkeep costs. In fact, the HomeAway report found 38% of owners generate enough rental income to cover 75-100% of their mortgage. Nearly two-thirds (63%) of owners earn enough to cover at least 50% of their mortgage.
“Owning a vacation property is not just for older Americans or the affluent. Many owners are discovering they can offset the costs of the home by renting to travelers when they’re not using it themselves, and they’re having good success lining up renters by marketing their homes online,” says Tom Kelly, Real Estate expert and author of How a Second Home Can Be Your Best Investment. “The rental income they earn can go toward paying the mortgage, home insurance, utilities and general maintenance.”
According to the HomeAway report, several markets around the country have seen significant increases in new vacation rental listings. For the fourth consecutive quarter, both New Orleans and Austin, Texas appear in the top 10 destinations with the largest increase in new listings. Sunset Beach, N.C. retains its top position from the last quarter and Telluride, Colo. dropped a spot from second to third.
More second home owners turn to renting their homesTop Markets with Largest Increase in New Vacation Rental Listings:

-Sunset Beach, N.C.
-Austin, Texas
-Telluride, Colo.
-New Orleans
-Sevierville, Tenn.
-Jackson Hole, Wyo.
-West Hollywood, Calif.
-Truckee, Calif.
-Whitefish, Mont.
-Eden, Utah

And despite the sluggish economy, second homeowners in these markets and throughout the country find that travelers are continuing to book stays, due in large part to the value afforded by a vacation home compared with a traditional hotel. Approximately 62% of second homeowners report their bookings for this summer are about the same or higher than last summer.
Now’s the time to buy vacation real estateGiven the success second homeowners have renting their homes to travelers, some are considering buying additional properties. Of the owners who cover 50% or more of their second home’s mortgage with rental income, 38% of them say they had considered buying an additional vacation home within the past year.
“There’s never been a better time in the past seven years to ‘buy low’ with the prospect of eventually ’selling high,” says Kelly. “Prices are down in just about every location, and mortgage interest rates are hovering at some of the lowest levels in history.”
Coastal areas, mountain and city destinations lure travelers looking for vacation rentalsWhether looking to buy a vacation home or just rent one for a personal vacation, finding the right destination is important. Miami and New York, again, rank in the top five most popular destinations to rent a vacation home this summer, based on traveler inquiries made on HomeAway.com between February and April 2010.
The top five most popular summer travel destinations include:Orlando, Fla.New York, N.Y.Cape Cod, Mass.Miami, Fla.Myrtle Beach, S.C.
However, when it comes to the fastest growing destinations among travelers, Beverly Hills and West Hollywood reappear as emerging hot spots, growing 119% and 130% respectively–compared to the same time last year in which they had already grown by 239% and 196%.
Emerging travel hotspotsTop 10 destinations with the largest percent increase in traveler interest from Q1 2009 to Q1 2010Telluride, Colo. (270%)Marina del Rey, Calif. (267%)New Orleans (220%)West Hollywood, Calif. (130%)Boca Raton, Fla. (129%)Cambridge, Md. (128%)South Yarmouth, Mass. (121%)Beverly Hills, Calif. (119%)Windham, N.Y. (108%)Flagstaff, Ariz. (107%)
Home-like experience of a vacation rental also big draw for travelersIf choosing between a vacation rental and a similarly priced hotel, 77% of travelers say they would choose a vacation rental over a hotel because of the home-like experience.
Deals and discounts on top of value provided by vacation rentalsWhile fewer vacation homeowners are offering deals or discounts this summer (55%) compared with last summer (66%), there are still plenty of deals to be had.
Of those owners who are offering deals this summer:

-43% plan to offer a specific percentage off the rental rate
-44% plan to offer a specific dollar amount off the rental rate
-31% plan to offer a free night with the purchase of a specific number of nights
-24% plan to offer free cleaning services
-11% plan to offer complimentary products or services, such as free tickets to a theme park
-10% do not plan to require a minimum-night stay

2010-05-12T21:41:00.000-07:00

Before you read the article you have to take a look at this short video clip on Whistler: http://www.whistler.com/about What a place!!!

Olympians go to bat for tourism McIvor, Ricker part of Locals Know campaign

By Andrew Mitchell

One of the promises of hosting the 2010 Olympic Games was a wider awareness of tourism in Canada and B.C., using the unprecedented global exposure to revive an industry that has been on the decline in recent years. One report from the Conference Board of Canada found that U.S. visitation to Canada had declined 52 per cent since 2001.
The drop in visitation to B.C. is not as severe, but between 2001 and 2008 the number of overnight U.S. visitors dropped by roughly 18 per cent. Overall, including Asia and Europe, visitation dropped 11.2 per cent during the same period.
While it's too early to determine what impact the Games may have when it comes to reversing that trend, the Canadian Tourism Commission is lauding a poll by Lonely Planet where 73 per cent of respondents said that Canada "has it all," including wilderness escapes, cosmopolitan cities, hospitality and friendliness.
To help keep the Olympic moment going the CTC and partners at Westjet have recruited 30 Olympians and celebrities to share their favourite Canadian vacation spots at www.localsknow.ca/gold-medal-getaways. The showcase of destinations includes a Gold Medal Getaway Contest that runs through June 20, where the winner can earn 16 one-way flights between Westjet destinations in Canada - a value of approximately $12,800.
The list of athletes appearing in the ads includes snowboardcross gold medallist Maëlle Ricker, ski cross gold medallist Ashleigh McIvor, mogul skiing gold medallist Alexandre Bilodeau, skeleton gold medallist Jon Montgomery, hockey gold medallist Hayley Wickenheiser, speed skater Clara Hughes and figure skater Joannie Rochette.
Ricker picked Pacific Rim National Park as her favourite getaway, while McIvor went for nearby Tofino for the surfing opportunities.
Of course the contest is only the tip of the iceberg. Both Tourism Whistler and Tourism B.C. - now a branch of the Ministry of Tourism, Culture and the Arts - have announced campaigns to capitalize on the global awareness of the Games. In addition to the Gold Medal Getaways promotion, the CTC also committed to a $26 million campaign surrounding the 2010 Games that is currently underway.
McIvor also appeared in San Francisco last month at the Ministry of Tourism's B.C. Experience showcase. Whistler's Ziptrek Ecotours was operating at 600-foot zipline in Embarcadero Square from April 8 to 18 as part of the tourism promotion.
While the Locals Know campaign is global in reach it is targeting Canadians specifically.
"The campaign focuses on the unexpected - encouraging Canadians to seek out new and exotic experiences they didn't know existed," said CTC president and CEO Michele McKenzie. "Canada's Games have offered us the opportunity to identify with our country in a deeper and more meaningful way. Who better to inspire Canadians to get out there and explore than our iconic 2010 Olympic heroes?"
The timing of the message is also important as the Canadian dollar hovers around parity with the U.S. dollar, which may encourage more Canadians to vacation in the U.S.
The Gold Medal Getaways promotion is just one way that the CTC is looking to leverage the Games.
For example, the CTC is working with others in the tourism industry, travel trade and travel suppliers to encourage more bookings to Canada in 12 key markets. The emphasis on travel experience packages, price points and "tactical offers."
"For us it's about converting 'someday' travellers to book now," said CTC spokesperson Kelly Laver.
"We've developed strategically tailored marketing campaigns in our key markets and are working to leverage the excitement and the afterglow of the Olympic Games and turn travellers wanting to visit Canada "some day" to visit Canada soon.
"For example, Canada saw strong culinary coverage during the Games. As 'local flavours' is a strong motivating factor for South Koreans to travel long-haul, the CTC is partnering with Agriculture and Agri-Food Canada for a Canadian culinary pilot project to increase awareness of Canada as a premier travel destination offering award-winning local cuisine."
Laver says the CTC has several similar strategies and campaigns for each market.

2010-04-28T12:06:00.000-07:00

April 26, 2010

Luxury home sales soar: report

By CBC NewsCBC News

Luxury homes in Canada sold briskly during the first three months of this year, shattering records for first-quarter activity in nine of 13 Canadian markets.
Luxury homes in Canada sold briskly during the first three months of this year, shattering records for first-quarter activity in nine of 13 Canadian markets, a RE/MAX report says.
The report called Upper End 2010 cites improved economic performance, increased personal wealth, immigration and foreign investment as catalysts in the sales surge.
The recovery in luxury home sales is "nothing short of remarkable," said Elton Ash, regional executive vice-president of RE/MAX in Western Canada.
"This segment of the market was hardest hit when the recession took hold, yet its comeback has been fast and furious."
Sales rates over the same period last year increased 700 per cent in Kelowna, B.C., 300 per cent in Montreal and 263 per cent in the Greater Toronto Area, RE/MAX says.
The entry point for high-end homes in Vancouver hit $2 million, with Toronto and Montreal posting entry-level luxury home prices of $1.5 million.
The most affordable luxury homes in Canada are in St. John's, N.L., where the starting price is $400,000, and in Halifax-Dartmouth, where luxury homes start at $450,000, the report says.
The company's biggest luxury home sale in Canada during the first three months of 2010 was an 11,600 square-foot house on the west side of Vancouver that changed hands for $10.06 million.
The most active buyers so far this year have been business executives, entrepreneurs and professionals.
The vice-president of RE/MAX in the Ontario-Atlantic region said he is optimistic about real estate sales at every level.
"Real estate continues to resonate with purchasers at every price point," Michael Polzler said.
"With the top end of the market shifting into high gear, every segment of the residential real estate sector is now operating in tandem," he said.
Ash told CBC News he believes higher prices and renewed activity are here for the long term. He pointed to the slow but steady recovery of economies in the United States and United Kingdom.
"As those much larger economies continue to improve slowly and cautiously, that will help us," Polzler said, "So is there a real estate bubble? I think it's unlikely, given the other circumstances at play."

Top Ten Tips For Selling This Spring

2010-04-13T19:32:00.001-07:00

http://ow.ly/172jVx

2010-04-08T11:44:00.000-07:00

Big news in Real Estate for Vancouver – What does it mean for Whistler?

Running the treadmill this morning I was listening to Cameron Muir - Chief Economist at the Real Estate Council of British Columbia - Cameron was talking to CTV News about sales for the month “MARCH 2010″ What I found interesting and then later googled like crazy to no avail was his comment about real estate in Greater Vancouver being unprecedented because of an 18 year boom the city has experienced….. with only a few down years. Cameron is someone I have followed for years - and I like to question him on his predictions and statements.

Vancouver ’s average house price hits $1,000,000 - what needed to be explained was the real price of what they called a “Standard Detached Home” was $800,000 up from a year ago of $650,000 - I am not sure where they cut off what is considered high-end housing and then determined Standard???? There were 1300 sales in the month of March - the dollar volume amounted to $1.35 billion.

The interview also showcased a local realtor who said Vancouver was one of the best real estate markets in the world… I agree that the market is not entirely fueled by the 2010 Olympic & Paralympic Games, he also said that the weather plays an important factor in deciding where you are going to live. After spending time in Victoria I would agree on this point – but most certainly there are other important factors for people to consider.

If first time buyers and investors fueled the Vancouver market for the last few years due to low-interest rates and affordability – it would seem Vancouver is about to experience a slow down in high-end sales. It now will cost the purchaser more to buy the property, more in monthly mortgage payments, and in 2 1/2 months more $$$$ to close on that property… even if the property is not new construction.
Which brings us to Whistler…. Mother Natures Playground.
Why not drive up and revisit that dream you once thought unattainable? Condo’s, Townhouses, and even Chalets (detached homes) are well below the million dollar mark – perhaps this is finally Whistler’s time to shine again in the real estate market - I mean if Vancouver is out of reach – Whistler is only an hour or so away.
Benefits
One of the top tips today in the Globe and Mail about working with the new value of our Canadian dollar was to buy real estate in the US – I think we should always consider our home land first – traveling is easier, and you’ll be able to vacation more often…. think about Thanks Giving Dinner in the mountains, an evening BBQ with friends on your sunny deck… why not lend the cabin to a local charity within your community, it would make a fabulous auction item – the benefits of owning real estate in Whistler are really endless – that’s the glory – It is yours to choose!
Happy Negotiating!
Two more very good articles I was reading today:
http://bit.ly/648nD Global Real Estate Trends
http://bit.ly/dA6GUk National association of Realtor – Resort Properties

2010-03-18T16:39:00.001-07:00

Whistler real estate, and trying to gauge the Olympic effect'
Friday, January 29th, 2010 6:01 pm By Canwest Global

VANCOUVER – Let the sales pitch begin.
With the 2010 Olympics at Vancouver and Whistler's doorstep, one local real estate insider has crunched a decade's-worth of Whistler sales results to make the case that the 2010 Olympics have given the resort's real estate a boost, and that – despite the recent global recession – property there is still a good investment.
"I still think there will be a good positive side to the Whistler story," Rudy Nielsen, president of research firm Landcor Data Corp., said in an interview.
Nielsen chronicles a doubling of Whistler's property values and widening sphere of international buyers there over the last decade to support his case.
Others are skeptical that the massive free-advertising campaign of the Olympics is having more of an effect on Whistler real estate than the improvement of transportation infrastructure on the Sea to Sky corridor, but Nielsen believes the exposure has to count for something.
"I think people will realize that this is a world-class place to be, and not only Whistler but Vancouver and British Columbia," he said.
Landcor, in a report released this week, has compiled a list of trends from examining the resort community's sales as recorded by the B.C. Land Titles office.
Between 2000 and 2010, with the 2008 financial crisis that dented markets everywhere notwithstanding, Whistler saw 8,990 property sales among the 13,134 residential properties within the resort.
And the Landcor data records dramatic price increases over the decade, with a lot of the gains coming in the first half of the decade.
The average price for a condominium, Landcor found, rose 101 per cent over the decade to $380,000 by 2010.
Townhouse average values increased 104 per cent to $677,000 over the same time period.
Detached homes, Landcor said, saw the biggest gain, rising 141 per cent to hit an average of almost $1.4 million in 2010.
And Whistler's global circle has become wider, the Landcor data suggests, with the resort recording owners from 40 different countries compared with 13 countries just a few years ago.
Granted, the number of international owners outside of North America is still small, just 556, but Nielsen sees it as significant that the audience for the resort has widened. Some 83 owners are from South Pacific locales, three are from the Middle East, 13 hail from the Caribbean and even one from Africa.

In Whistler right now, Lisa Bjornson, general manager of the Whistler Real Estate Company, said it is difficult to tell what effect the Olympics are having on the market, but there is an assumption they will.
Bjornson said the community's real estate counterparts in Park City Utah, host of alpine events for the 2002 Salt Lake Olympics, told them to expect sales to dry up in the three months leading up to and three months following the Games, but agents have been making sales.
Bjornson added that the last quarter of 2009 saw Whistler's real estate sales recover from the downturn that hit in the last half of 2008.
And Bjornson said agents in her office have been booking appointments with clients for showings during the Olympics, so they do expect to be open for business.
"We just don't know who, if anybody, is buying after the Games as a result of the exposure yet," Bjornson said. "We just know that a lot of people are going to be here."
However, University of B.C. real estate expert Tsur Somerville expects that the gains Whistler is seeing come more from the improved Sea to Sky Highway and not the additional exposure.
"I'm not saying it's zero," Somerville said in an interview, but he is skeptical that the Games will give Whistler better exposure to the market of buyers likely to buy ski-resort property than it has already had.
Somerville, director of the centre for urban economics and real estate at the Sauder School of Business at UBC, released a report, co-authored with PhD candidate Jake Wetzel, on the effects that staging Olympics have had on property prices in host cities.
In their work, Somerville and Wetzel found that being an Olympic host city did not bump property prices up any more than surrounding, non-host locations.
Any gains, Somerville said, were more attributable to general economic conditions that were shared by non-host regions, or as a result of infrastructure improvements independent of the Games.
However, for Nielsen, who is also involved in developing recreational real estate with his other companies, a bit of a sales pitch can't hurt.
"[B.C.] is the greatest place on earth to live and I'm trying to promote it the best I can," he said.
depenner@vancouversun.com

2010-03-18T16:37:00.000-07:00

Local NewsReal estate boom coming: report Local investor predicts increase in demand, price two to five years after Olympics

Real estate boom coming: reportLocal investor predicts increase in demand, price two to five years after Olympics

March 10,2010 Jennifer Miller jmiller@whistlerquestion.com

According to a recent report by a local real estate investor, there will be more interest in the Whistler market and an increase in real estate values because of the 2010 Olympics — but it will take two to five years for those benefits to be realized.
In the short-term future, the local real estate market will likely remain quieter than a non-Olympic year, said Peter Gorski, owner of Westbound Ventures. It seems to be normal that sales slow down before and after the event in most host cities, he said.
In Park City, Utah, which is often regarded as the closest comparison to Whistler, sales slowed down for up to a year before and a year after the resort hosted the 2002 Winter Games, Gorski said.
According to Bill Malone, president of the Park City Chamber of Commerce, the real estate market was “sketchy” in Park City for about 16 months after the Games. Potential buyers were uncertain about whether prices were good, bad, represented the “new” post-Olympic prices in the months following the event, he told The Question last month.
Gorski said it will take time for the increased tourism expected because of the Games to translate into a greater demand for real estate in Whistler and increased prices. For example, people who visited Whistler for the first time because of the Olympics will likely “fall in love” with the resort over the course of a year or two and then decide to buy property, he said.
“Research would show that it’s probably in a two- to five-year timeframe from now,” he said.
While Park City saw real estate prices jumped by as much as 250 per cent by 2007, Gorski and at least a couple of local realtors agree that it’s unlikely Whistler will see that kind of increase. Other factors were at play for Park City, such as a “huge real estate boom” in the rest of the U.S. during the same time, Gorski said.
“I personally think the impact here will be less,” he said. “Whistler will outperform other similar real estate markets in the region or in the country, but probably not to that extent.”
Values have come down in Park City since 2007, he added.
Longtime local realtor Craig Mackenzie includes a graph of average real estate prices in Park City from 2003 to 2009 in his blog (whistler-resort-real-estate.com). Mackenzie writes that he doesn’t think Whistler will see as drastic a price increase as Park City because Whistler’s post-Olympic prices are starting at a higher value.
Gorski’s 40-page report is titled The Olympic Effect: Profit From Whistler’s Next Real Estate Boom. He said he’s been doing research on the local real estate market for the past couple of years and has been “really intrigued” by what the effects might be from hosting the Games.
While much attention has been paid to how increased publicity and media exposure for Whistler through Olympic coverage will be positive for the resort, Gorski said his research instead focused on “economic fundamentals” such as the upgraded highway, Games venues, and political policies that will help bring more people to town.
He said he sees the “hype” about media exposure more as “speculation,” while tangibles such as new tourist attractions and data are more appealing to investors.
Improved transportation to Whistler, the appeal of Olympic venues, and the provincial government’s plan to leverage the Games by attracting more sports competitions to the sliding centre and Whistler Olympic Park will all translate into more visitors, Gorski said.
There is a “strong correlation” between the number of visitors and the value of real estate, he said.
“The more people who come here, the more people want to move here,” he said.

2009-10-22T15:23:00.000-07:00

2010 Olympics - Property Vancouver, Whistler, Canada
Taking a look at the positive effect the 2010 Winter Olympics is having on property in Whistler and Vancouver, Canada
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The Vancouver Olympic Games Organizing Committee will today unveil a massive clock at the Vancouver Art Gallery to begin counting down towards the 2010 Winter Olympics in Canada that will open in exactly three years time and bring the global spotlight to Whistler and Vancouver - the joint hosts of the games.
Little has been said about the impact that the 2010 Winter Olympic Games will have on property in Vancouver and Whistler in Canada and it is only now that public awareness is starting to realise that there could just be a real estate investment opportunity in the offing that deserves closer inspection.
As part of the development and construction work underway in Vancouver for the 2010 Winter Olympics all major roads are being improved and seven hundred and seventy five million Canadian dollars is being spent on upgrading the road that links Vancouver to Whistler. What’s more, almost two billion dollars is being spent on a brand new fast transit train line which is being constructed to link Vancouver airport with Richmond, the city centre and the athlete’s village in False Creek – and this transit line has already had a very positive effect on the commercial property market in Greater Vancouver.
The transit line makes certain areas of the city far more accessible now and as a result commercial activity in the West Broadway area in particular is heating up. Companies that are being priced out of the central business district (CBD) are happy to have the opportunity to rent out or buy up real estate and premises in the Broadway corridor now that it is an area of Greater Vancouver so much more accessible than before.
Vacancy rates have dropped dramatically and rental rates have gone up in the last year as demand for light industrial and office space in the Broadway corridor just keeps on increasing. In spite of the increase in rental rates the area is still highly attractive and will remain so because operating costs outside of the CBD are so much more affordable and real estate in this area is now so much more attractive thanks to the Winter Olympics investment into the transit line.
An encouraging knock on effect of the development of this area of Greater Vancouver as a business hub is the fact that retail space is now being constructed in the immediate vicinity to service the greater number of consumers flooding in – this creates more and diverse opportunity for property investors and you could say that the property market in Vancouver is on a positive roll.
But it’s not just the transit line having a positive effect on property prices in Vancouver; all of the massive infrastructure developments for the Winter Olympics will have an incredibly positive knock on effect for property prices. Furthermore, Whistler which is already an incredibly attractive international ski and winter sports resort and which has correspondingly high property prices will gain a global audience when it showcases the superiority of its natural amenities and enhanced facilities in 2010 and this is expected to bring an increase in tourism traffic.
As the resort of Whistler is being made even more accessible to visitors thanks to the Winter Olympics funded upgraded road linking Vancouver, its international airport and Whistler this will have a positive effect on real estate prices going forward and so those who buy in today have a great asset that will derive them an income immediately and generate them a nice increase in underlying capital over the medium term.
In terms of where to buy real estate in Canada and what to invest in, investors need to take a close look at which areas of Vancouver are being positively affected by the 2010 Winter Olympics, where amenities, facilities and infrastructure are being improved upon or added to and then consider whether the benefit will be for commercial or residential interest and purchase property accordingly. In terms of what property to buy in Whistler, anything that will let out to short term tourism traffic will generate the best income potential and be the easiest type of real estate to resell. Bear in mind that those coming for winter sports need to be within very easy reach of slope access as well as close to social amenities.

2009-09-26T15:10:00.000-07:00

Whistler Blackcomb has done it again.

B.C.'s Olympic co-host venue has been rated No. 1 by Skiing Magazine for the 13th year in a row.
"We are thrilled to be on top again this year," said Dave Brownlie, president and chief operating officer at Whistler Blackcomb.
"We are extremely fortunate to be blessed with the incredible physical attributes that our mountains offer -- their size, scope and variety of terrain tops the rankings every year."
The magazine rates resorts based on several criteria and Whistler Blackcomb gets consistently high marks for terrain quality and variety, thanks to its 3,300 hectares.
"It's a poll of our readers, not the editors. And the readers overwhelmingly chose Whistler," said Jake Bogoch, editor of Skiing Magazine.
Apres-ski and nightlife also rated high. "Whistler exudes an energy that is difficult to replicate anywhere else, and guests love it, citing it as one of the key reasons they come back year after year," said Brownlie.
Ninety per cent of Whistler Blackcomb's terrain will remain open during the 2010 Olympic and Paralympic Winter Games.
The resort was also rated No. 1 by Freeskier magazine and No. 2 by Ski magazine.
Whistler Blackcomb's official opening day this year is Nov. 26.

2009-09-26T15:08:00.000-07:00

News

Published 2009-09-23 14:07:21

Whistler Blackcomb top rankings, again Skiing Magazine readers rank Whistler first for 13 years
By Andrew Mitchell

Whistler Blackcomb is heading into what's likely to be a difficult season with an early shot in the arm from some of the industry's biggest magazines.
Skiing Magazine's annual readers poll ranked Whistler Blackcomb as the number one resort in North America for the 13th year in a row, as well as the resort readers want to ski more than anywhere else.
Freeskier Magazine also ranked Whistler Blackcomb in the top spot.
And in Ski Magazine, Whistler Blackcomb moved up one spot from third to second this year, behind Deer Valley, Utah.
While visitor numbers are expected to be down this season as a result of reduced access during the 2010 Winter Games, as well as something called the "Olympic aversion effect," Whistler Blackcomb is counting on regional visitors and regular customers to help make up for the loss in destination business. As well, Whistler Blackcomb expects residents and pass holders to take advantage of mountains that will likely be less busy than usual even though 90 per cent of terrain will be open to the public all season.
Do rankings matter? Dave Brownlie, president and COO of Whistler Blackcomb thinks they do, even if not every reader will book a trip right away or even for this season.
"I think (the rankings) certainly get people's attention, and we definitely want to be up near the top in how the skiing and snowboarding public out there is rating us," Brownlie said.
"At the end of the day these are from people out there in North America who are telling the magazines what they think, so it's important to be up there and recognized for what we do."
Thirteen years is a long time at the top of the Skiing Magazine poll given the amount of competition from other resorts in Canada and the U.S. Meanwhile, the top ranking in Freeskier was welcome given the younger, more park-oriented readership of that magazine. Brownlie says those rankings, coming from readers instead of editors, will keep Whistler Blackcomb front and centre in the minds of people "who aspire to ski here."
The awards are sure to keep coming as other polls are released. Notably, Whistler Blackcomb was voted the top resort by Transworld Snowboarding readers for three years in a row, as well as number one for terrain parks.
In recent years Whistler Blackcomb and the resort in general have also won awards from travel publication Conde Naste Traveler, Forbes, Sunset Magazine and other publications that are not as industry specific as ski and snowboard magazines.
Brownlie says those awards are always the least expected but most gratifying in terms of what all of Whistler is trying to accomplish as a destination that can offer something for everybody.
"The question has always been 'how do you appeal to the broadest network of folks out there?'" he said. "We're a big resort and we need people from all walks of life and geography to come and want to be here to sell this place. I think it's great, we have our high-end clientele at places like Fairmont and Four Seasons, we have the more budget-conscious people who might stay at other hotels, and the young folks who come and stay at the hostel. Some of those people are coming to enjoy the skiing and snowboarding, but some are also coming to enjoy our other offerings like the nightlife, our restaurants and other activities off the mountain.
"To be recognized for those things as well as skiing and snowboarding is really the icing on the cake for us."
Whistler Blackcomb was the only Canadian resort to crack the top 30 in Ski Magazine's poll this year and the top 10 in Freeskier. Ski Magazine also voted Whistler as the top resort to party, with nods also going to Canada Olympic Park in Calgary and Mont Tremblant in Quebec.

Should I Purchase Now or Wait??

2009-09-17T14:21:00.000-07:00

Should I Purchase My Home Now or Wait for the Market to Stabilize?

Many people are debating whether they want to buy a property now or whether they should wait. They are getting mixed messages from the media about the market conditions and the state of the economy. Reports are indicating that the real estate market is rebounding. However, we are still hearing negative news about businesses folding and job losses. So is now a good time to buy?
The decision whether to buy a home now or wait is very tricky at the moment. On the one hand you have very low mortgage rates as the Bank of Canada had cut the interest rate several times in the last few months to try and get the banks lending again. Deals as low as 2.75% are being advertised to entice new customers into the market and get the chain moving again. Also, property prices have dropped in the last year and there are many good deals to be made.
On the other hand, there is still the question whether housing market prices will hold or drop further. Potential buyers are wary about taking on such a huge borrowing to find that the dream house they have just bought may be worth appreciatively less in six months’ time.
House prices are cyclical. A low market is always a good time to buy even though it may be several years before the market rebounds. The property market will rebound. If you are in a position to buy a house and can afford the repayments, buy now. Waiting to buy could result in paying much higher prices in a rising market.
Are you really ready?It is also important to consider how long you will be in the home that you are about to purchase. Once you buy the home, it may be very difficult to resell right now. If the market continues to drop and you end up moving and selling in a year, you may have been wiser to wait a bit longer. So that is something that you want to make sure that you consider when making the decision to purchase a home.
Of course, if you have a long-term plan to be in the home, the fluctuations and potential decrease in value in the near term doesn’t need to get you down, as the only price that matters is the price you are able to sell for when you need or want to move.
Another thing that you need to think about is if you can afford the home that you are considering buying. While prices have dropped recently, you want to make sure that you find a home that is going to fit your budget. As a precautionary measure you should also budget for the fact that the cost of living might rise even further, and that being able to afford these increases will be important.
If you have the funds available for a down payment and you are eligible for a mortgage, and feel comfortable about your job security, and currently meeting the rising costs of living fairly easily; then the time is probably right for purchasing property. It is still a buyer’s market, so find your dream home, negotiate your best deal and jump in. Buying property now is one of the best times in the last hundred years to get a bargain.

2009-08-28T11:34:00.001-07:00

Recession over, Bank of Canada says
July 24th, 2009
The recession is over, the Bank of Canada said in its quarterly Monetary Policy Report released Thursday.
After shrinking since the last quarter of 2008, the Canadian economy will grow by an annualized rate of 1.3 per cent in the current quarter, the bank said.
“We are on track for the recovery both in Canada and globally,” Bank of Canada governor Mark Carney told reporters.
However, unemployment will continue to rise, he said.
For many Canadians, “it’s not a recovery until they start getting their jobs back. And on that score, we could still be in for a long wait,” Avery Shenfeld, CIBC economist, said in a report published Thursday.
“Don’t break out the champagne yet,” said Patricia Croft, chief economist of RBC Global Asset Management.
The return to growth after three quarters of decline signals the end of the recession, defined as two consecutive quarters of shrinkage.
Growth will accelerate through late 2009 and by the first half of 2010, the Canadian economy will be booming along with four per cent growth. But that will begin to taper off to less than three per cent by the last half of 2011, the bank said.
Carney said consumer spending and housing are pulling the growth, especially in the U.S. But there is a “speed limit” to that kind of growth, and the economy will hit it after the burst in 2010, he warned.
The bank said in its report that “stimulative monetary and fiscal policies, improved financial conditions, firmer commodity prices, and a rebound in business and consumer confidence are spurring domestic demand growth.”
“However, the higher Canadian dollar, as well as ongoing restructuring in key industrial sectors, is significantly moderating the pace of overall growth.”
The loonie was up 1.14 cents to 92.17 cents US, which may have been a reaction to the bank’s forecast.
The economic outlook is not much changed from its April report, although it says “the growth profile is slightly altered by a faster rebound in domestic demand,” the bank said.
It projects that real gross domestic product, a measure of the economy, will fall 2.3 per cent this year, then grow three per cent in 2010 and 3.5 per cent in 2011.
Its 2009 forecast is in line with other projections, but it’s more bullish about 2010 than many other projections.
However, the economy will not reach capacity, when supply and demand are in balance, until 2011.
Carney said the prospect of “extreme financial risk from beyond our borders” is no longer an issue, but the recovery is not certain.
Inflation, which has fallen with energy prices, will not increase to the target rate of about two per cent until the second quarter of 2011.
But “significant upside and downside risks remain to the inflation projection,” particularly from the volatile loonie, the bank said.
The bank will set policy to ensure the inflation target is met, Carney said
Source: CBC News website 23 July 2009

2009-08-12T21:25:00.000-07:00

It's a recession, not a depression

The analogy between today's economic woes and those of the early 1930s is being overplayed

Michael Nairne, Financial Post Published: Tuesday, April 21, 2009

Tacita Capital, Andrew Barr, National PostStocks And The Great Depression.
As jobless rates skyrocket, numerous pundits have raised the spectre of the Great Depression, capturing headlines and garnering lucrative speaking venues as they prophesize inevitable devastation. Already overwhelmed by painful losses, many investors capitulate, preferring the refuge of cash to the prospect of utter ruin.

Fortunately, the analogy between today's economic woes and those of the early 1930s is overplayed by many self-interested scaremongers. There is one fundamental similarity -- in both cases, very severe economic contractions were triggered by credit crises when excessive asset prices, inflated by too much leverage, poor underwriting practices and speculation, collapsed. Stocks and margin accounts were the culprits in 1929, housing and mortgage-backed securities in 2007. Both then and now, the credit crunch and contagion of fear spread to other sectors of the global economy and sent it into a tailspin.

The differences between these crises, however, are telling. Today's economy is much more resilient than that of the 1930s. Indeed, automatic stabilizers did not exist then as there were no social security or unemployment benefits and few private or public pensions. Other stabilizers that exist today -- more dual-income households, a high proportion of public sector and health care workers and a more diversified, service-oriented economy -- should mitigate this downturn relative to the 1930s.

Today's greater resilience already manifests itself. Based on U. S. statistics, this downturn is just over 15 months old. By October, 1930, 15 months into the onset of the Great Depression, production had fallen by 26%, prices by 14%, and personal income by 16%. The U. S. economy is nowhere near experiencing that broad level of decline. In 2008, the first full calendar of this contraction, real U. S GDP in the fourth quarter declined by less than 1% versus the prior year's fourth quarter; in 1930, real GDP declined by almost 9%.

A second pivotal difference is the failure rate of banks. With no federally guaranteed deposit insurance, fearful depositors in 1930 triggered a widespread run on U. S. banks that resulted in 1,352 bank failures. At its height, 256 banks failed in November followed by 352 failures in December. By the time President Roosevelt signed the Emergency Banking Act in March, 1933, over 9,000 banks had ceased operation -- nearly one in five banks. In comparison, since December, 2007, 42 banks have closed in the U. S., many of those acquired by other institutions. At the end of 2008, the Federal Deposit Insurance Corporation (FDIC) identified 252 banks in trouble, just over 3% of the 8,305 banks and saving institutions in the U. S.

In the first three years of the Great Depression, depositors and creditors suffered billions in losses as banks closed their doors. Depositors today who have account balances guaranteed by the FDIC suffer no losses when a bank closes. In fact, the FDIC was created in 1933 to stabilize the banking sector and prevent panic-induced bank runs.

Bank closures contributed to the rapid decline in the stock of money, which fell by over one-third from August, 1929, to the trough of the Great Depression in March, 1933. This contracting money supply reinforced deflationary trends which in turn thwarted economic recovery by inhibiting consumption and driving up real interest rates. Learning from this experience and no longer hampered by the gold standard of the early 1930s, the Federal Reserve has engineered a 14% increase in the money supply since December, 2007. It has also reduced interest rates and ensured liquidity is flowing to financial institutions as well as key credit markets.

Finally, the U. S. government has responded to today's economic crisis with speed. The Treasury announced the $700-billion Troubled Asset Relief Program (TARP) 10 months into this downturn. In contrast, Andrew Mellon, who was the Secretary of the Treasury from 1921 to 1932, advocated spending cuts to balance the budget and opposed support for the banking sector. He is infamous for his advice to President Hoover to "liquidate labor, liquidate stocks, liquidate the farmers, liquidate real estate." It wasn't until Hoover belatedly acted in 1932, followed by Roosevelt's many initiatives when he took office in March, 1933, that the government dealt forcefully with the collapse of the banking sector and the economy.

The Great Depression alarmists also stress the shattering 86% decline in stock prices that occurred from Sept. 7, 1929 to June 1, 1932. They are right to point out the massive damage to equity investments but fail to tell the whole story. First, dividends have to be included to provide a picture of total return. Second, the returns have to be stated in real, not nominal, dollars. Wealth is about purchasing power, and in a period of falling prices it is real wealth that matters. Finally, they leave out any discussion of the ensuing recovery.

Incorporating these three elements -- dividend returns, real prices and the recovery -- a more accurate picture emerges. Despite the colossal market plunge, patient investors saw the purchasing power of their equity capital fully restored by November, 1936, the year when real GDP had finally recovered to its 1929 level. In fact, the market began to recover in the summer of 1932 with a stunning rally that saw the stock prices nearly double in three months. The catalyst was the first large open market bond purchases by the Federal Reserve and the initiation of a lending program to banks by the newly created Reconstruction Finance Corporation. This script is being followed today by the Fed and Treasury, but they are acting in the first year of the downturn, not in the third.

However, very few investors are invested solely in equities. A more illustrative portrayal of the Great Depression investment experience is that of a balanced investor. The accompanying graph tracks the cumulative real return of a portfolio invested 20% in government bonds, 15% in corporate bonds and 65% in stocks during the Great Depression starting with an index of 1.00 at the market peak in 1929. In this example, we have assumed the portfolio asset mix is not rebalanced.

A more positive picture emerges. At its worst moment in May, 1932, just before the market rallied, the real value of the balanced portfolio was down 37%; an incredibly challenging investment experience, but far from total desolation. A balanced investor would have spent only 16 months where the real value of their portfolio had declines greater than 20%, would have broke even in June, 1935, and would have gone on to enjoy a cumulative 35% real wealth gain by the end of 1936.

What if an investor had the fortitude to rebalance his portfolio back to the initial asset mix by selling bonds and buying stocks whenever the allocation to stocks fell too far, and, alternatively, selling stocks and buying bonds whenever the stock allocation rose too high?

The above graph tracks the cumulative real return of a the balanced portfolio with the same initial asset mix of 20% in government bonds, 15% in corporate bonds and 65% in stocks starting with an index of 1.00 at the market peak in 1929. In this example, we assume the portfolio is rebalanced whenever the stock allocation varies more than 20% from the initial target of 65% of the portfolio.

The rebalanced portfolio suffers deeper declines than the previous non-rebalanced portfolio, losing nearly 50% of its value by the market's nadir. This is caused by a rebalancing in 1931 when bonds were sold to buy stocks. The benefit is that as the market rallies, the higher equity exposure rebuilds value more quickly. An investor with this rebalanced portfolio would have broken even in May, 1933, and would have gone on to enjoy a cumulative 79% real wealth gain by the end of 1936.

Balanced investors were badly mauled in the Great Depression, but those with the fortitude and patience to stay with their long-term plans emerged with their real wealth not only intact but enhanced. Investors today with sound, diversified investment strategies should take note and heart.

There is no question that we are enduring a very severe recession. Although the fourth-quarter 2008 real GDP decline in the U. S. was smaller than drops in both 1980 and 1982, the prognosis is that further contractions this year will make this the worst downturn since 1946. Yet, a more resilient economy, early and extensive support to the banking sector by the Treasury and dramatic action by the Federal Reserve strongly suggest a catastrophe like that of the early-1930s will be averted. This is the Great Recession, not a replay of the Great Depression. - Michael Nairne is president of Toronto-based Tacita Capital.

I love Whistler

2009-08-02T11:31:00.000-07:00

Here's a great article on Whistler published in the July 29 Pique Newsmagazine:

http://www.piquenewsmagazine.com/pique/index.php?cat=C_Frontpage&content=Feature+1631

Dine in Whistler Specials April 27 - June 25

2009-05-05T10:58:00.000-07:00

Here are some great deals for dining out in the spring. We always like to take advantage of the half price food this time of year.

Jeff

http://www.whistler.com/dinein