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Okeya Kyujiro

Okeya Kyujiro – As mentioned before, I am always a fan of Japanese cuisine. So when I came across Okeya Kyujiro on a friend’s Facebook page I knew I had to try it. It was first established in Montreal, and now they have opened their second location in Yaletown. This place is very unique as it provides a full on immerse omakase dining experience with a bit of a visual impact entertainment from the beginning to end. There are only two serving times and with a limited seating of 12 people. All the staff are dressed in more traditional Japanese wear and the food is flown fresh directly from Japan. You are introduced to the staff and watch how the chefs are making each item and have the servers explain each dish and will show you the ingredients prior to preparation. Each dish was incredibly delightful and delicious. It was clearly something I have never tried before and I was completely impressed with it. I enjoyed every aspect of the experience and the food. It’s definitely a place you should go at least once and on a special occasion since it’s priced on the high end side.
@foodblogprec

hangry_bunny

Highlights From the Real Estate Board January 2023

“Due to seasonality, market activity is quieter in January. With mortgage rates having risen so rapidly over the last year, we anticipated sales this month would be among the lowest in recent history. Looking forward, however, the Bank of Canada has said that it will pause further rate increases as long as the incoming economic data continues to support this policy stance. This should provide more certainty for home buyers and sellers in the market.”

“We know the peak for prices in our market occurred last spring. Over the coming months, year-over-year data comparisons will show larger price declines than we’ve been reporting up to now,” said Lis. “It’s important to understand that year-over-year calculations are backward-looking. These price declines already happened, and what we are seeing today is that prices may have found a footing, even if it’s an awkward one sandwiched between low inventory and higher borrowing costs.”

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,111,400. This represents a 6.6 per cent decrease over January 2022 and a 0.3 per cent decrease compared to December 2022.

Sales of detached homes in January 2023 reached 295, a 52.6 per cent decrease from the 622 detached sales recorded in January 2022. The benchmark price for detached properties is $1,801,300. This represents a 9.1 per cent decrease from January 2022 and a 1.2 per cent decrease compared to December 2022.

Sales of apartment homes reached 571 in January 2023, a 56.6 per cent decrease compared to the 1,315 sales in January 2022. The benchmark price of an apartment property is $720,700. This represents a 1.1 per cent decrease from January 2022 and a one per cent increase compared to December 2022.

“NOTE: this representation is based in whole or in part on data generated by the Chilliwack & District Real Estate Board, Fraser Valley Real Estate Board or Real Estate Board of Greater Vancouver which assume no responsibility for its accuracy.”

Download The Real Estate Board of Greater Vancouver’s January statistics Package. Click Here

Download Fraser Valley’s Real Estate Board’s January Package. Click Here

Food for Thought on Real Estate – January 2023

 
  • Seller’s market – A seller’s market is when there are more people looking to buy then there are homes available. This causes a rise in price above the long-term average rate of inflation. Typically this is indicated by a sales-to-active listings ratio of 20% or higher.
  • Buyer’s market – In contrast, a buyer’s market is when there are many more homes for sale than there are buyers. As a result, prices increase slower than the long-term average rate of inflation. In extreme circumstances this can cause prices to decline. Typically this is indicated by a sales-to-active listings ratio below 12%.e
  • Balanced market – A balanced market occurs when supply and demand are about the same, with home prices rising in line with long-term average rate of inflation. Typically this is indicated by a sales-to-active listings ratio between 12% and 20%.Summary Over a sustained period of time:
    • a seller’s market is represented by a ratio of 20% or higher
    • a buyer’s market is represented by a ratio of 11% or lower
    • a balanced market rests between 12-19%

February 2023 Newsletter Introduction

Valentine’s Day is upon us and a month have already passed since we kicked off 2023. Have you managed to fulfill your new years resolution or is that concept is completely irrelevant in this day and age? I have gotten a boost of motivation to focus on doing something more interesting by being invited to a podcast to talk about my journey as a realtor.  It was nerve wrecking and fun at the same time.  

As for the market – after that final interest hike back in January, and Lunar New year have passed there has been a surge of activity where buyers are entering into the market and ready to start looking again. The 3 day recession period that took affect won’t be in much use at the moment since the market has become a lull due to the interest hike. However, this implementation is a good way to think ahead when the time comes when it is needed during a heated market. Although the interest rates have gone down slightly, but it’s still ways away from being the 0% rates we had seen and experience a couple years ago. So the chances of the market being relatively hot will be slim as the economy as a whole is at a lull due to the high inflation costs. 

– Sam

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Chez Temporel

Chez Temporel –This is my third visit to Quebec and every single time it gets better and better. We decided on Chez Tempurl as our dinner for the evening in the heart of old Quebec City. A little quaint restaurant of 50 years of business that creates comfort home cooked Quebec dishes. One great thing that I liked was that the menu was very small. It demonstrates to me that they make only what they know best and they are proud of it. We ordered French onion soup, duck confit, mushrooms and risotto, and the lamb shank. Just like in Paris, the style of dining is very relaxing and slow paced. The chef is very passionate about the dishes they serve so it does take some time. Each item that we ordered was fantastic. The food was made with a lot of patience which can be tasted in each bite. There was plenty of flavour that layers itself for each dish. I can’t say which dish was my favorite since each one complemented each other so that one didn’t stand out from another. They all worked together fantastically. It made the meal all more enjoyable. I would definitely go again and I would highly recommend anyone to give it a try since it’s slightly off the path of the main streets of old Quebec City yet it’s the perfect place to be if you want to wind down and avoid the heavy foot traffic.
@foodblogprec

hangry_bunny

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Northern Cafe & Grill

Northern Cafe & Grill – This place is so worldly famous – no seriously! Many tourist from around the world would come to this cafe. An interesting back history on this unique diner. The diner is situated in a lumber yard in a somewhat makeshift space above the lumber yard office. You wouldn’t even know this place existed unless you purposefully look for it. A greasy spoon that is run by an immigrant Asian family that serves a mix of Cantonese style noodles / rice and you’re typical breakfast and sandwich orders. Ordered their bacon cheese burger, wanton soup and their breakfast pancakes. All I can say that – WOW to the comfort food. All the ingredients are super fresh and made with care. Dishes are super hearty and generous. My biggest surprise was the wontons. I didn’t expect a place like this to have such incredible wontons. The texture and bounciness of the meat inside gives that nice bite. You can’t go wrong with this place. Don’t be fooled by the state and condition of the place – the food is legit!
@foodblogprec

hangry_bunny

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Personas

Personas – I don’t usually like trying out places in hotels as I find their food quality tends to be mediocre. I was invited for lunch there so I decided the sandwich for lunch. The item that caught my eye was the wicked tuna club. I really enjoy a good ahi tuna burger, and my favourite one was from Joeys. Sadly, they took that item off the menu a few years back. When it arrived, it was nicely presented with some fresh cut fries on the side. The sandwich itself was served on a nice buttered brioch bun, with bacon slices, an onion ring and their red pepper jam. The flavour combination wasn’t bad but sadly the tuna was overcooked to my liking. So it was drier than I had expected, so the jam and bacon just masked the dry texture of the tuna a bit. So, I would say it was disappointing but I should have known better and picked something safer to try the first time. I would give this a second try and see if the other items are any better. 
@foodblogprec

hangry_bunny

Highlights From the Real Estate Board December 2022

After seeing record sales and prices during the pandemic, Metro Vancouver’s* housing market experienced a year of caution in 2022 due to rising borrowing costs fueled by the Bank of Canada’s ongoing battle with inflation.

“The headline story in our market in 2022 was all about inflation and the Bank of Canada’s efforts to bring inflation back to target by rapidly raising the policy rate. This is a story we expect to continue to make headlines into 2023, as inflationary pressures remain persistent across Canada,”

“Closing out 2022, the data show that the Bank of Canada’s decisions to increase the policy rate at seven of the eight interest rate announcement dates in 2022 has translated into downward pressure on home sale activity and, to a lesser extent, home prices in Metro Vancouver,” Lis said.

“While the consensus among many economists and forecasters suggests the Bank of Canada may be near the end of this tightening cycle, rates may remain elevated for longer than previously expected since the latest inflation figures aren’t showing signs of abating quickly. We’ll watch the 2023 spring market closely to see if buyers and sellers have adjusted to the higher borrowing-costs and are participating more actively in the market than we have seen over the last 12 months.”

Sales of detached homes in December 2022 reached 371, a 53.3 per cent decrease from the 794 detached sales recorded in December 2021. The benchmark price for a detached home is $1,823,300. This represents a 5.1 per cent decrease from December 2021, a 1.8 per cent decrease compared to November 2022, and a 11.4 per cent decrease over the past six months.

Sales of apartment homes reached 702 in December 2022, a 52 per cent decrease compared to the 1,464 sales in December 2021. The benchmark price of an apartment home is $713,700. This represents a 1.7 per cent increase from December 2021, a 0.9 per cent decrease compared to November 2022, and a 6.9 per cent decrease over the past six months.

“NOTE: this representation is based in whole or in part on data generated by the Chilliwack & District Real Estate Board, Fraser Valley Real Estate Board or Real Estate Board of Greater Vancouver which assume no responsibility for its accuracy.”

Download The Real Estate Board of Greater Vancouver’s December statistics Package. Click Here

Download Fraser Valley’s Real Estate Board’s December Package. Click Here

Food for Thought on Real Estate – December 2022

 
  • Seller’s market – A seller’s market is when there are more people looking to buy then there are homes available. This causes a rise in price above the long-term average rate of inflation. Typically this is indicated by a sales-to-active listings ratio of 20% or higher.
  • Buyer’s market – In contrast, a buyer’s market is when there are many more homes for sale than there are buyers. As a result, prices increase slower than the long-term average rate of inflation. In extreme circumstances this can cause prices to decline. Typically this is indicated by a sales-to-active listings ratio below 12%.e
  • Balanced market – A balanced market occurs when supply and demand are about the same, with home prices rising in line with long-term average rate of inflation. Typically this is indicated by a sales-to-active listings ratio between 12% and 20%.Summary Over a sustained period of time:
    • a seller’s market is represented by a ratio of 20% or higher
    • a buyer’s market is represented by a ratio of 11% or lower
    • a balanced market rests between 12-19%

January 2023 Newsletter Introduction

Happy New Year!!! 2023 has arrived! I swear, as I get older I feel like time flies by way too quickly. The common phrases of “where has the time went?” “Time flies” “It seems like yesterday that we were just all here” etc. They are all so true. I can’t say the same for others, but I get that sense for myself. Due to weather conditions and being sick my Christmas this year was a little quiet but I don’t mind it one bit!

So what changes have happened that would impact the real estate market? Well, it’s been announced there is a ban for all foreign buyers to purchase real estate for 2 years. Honestly, this implementation doesn’t impact the market much as this seems more like a political move made by our government to show that they’re making changes to curb housing markets as there has been no indication of large amount of homes being bought by foreign buyers since 2017. The second change is a game change for buyers. The three day recession period is now a mandatory rule for all home purchases.

Buyers will have three business days to back out of a residential purchase after signing the contract. This applies to all contracts, regardless of subjects. We’re asking the government for clarity on what constitutes a “rescission” (cancellation). The period is mandatory and can’t be waived. Buyers who back out of a contract within this three-day period will have to pay a rescission fee of 0.25%. For example, if the purchaser exercises the right of rescission on a $1-million home, they’d be required to pay the seller $2,500. The rescission fee is paid to the seller. 

– Sam

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