This Week's Overheards

This week I overheard two of my fellow Vancouverites, and their guest, talking about my transit ads on their local podcast channel.

For those of you not familiar with the podcast medium, podcasting is the act of creating lengthy audio files for 'at your convenience listening.' Podcasters sit in tiny rooms and record their conversations. They talk about cereal, wrestling, references from the 90s and Tinder (obsessively).

The specific podcast that referenced my work, was the locally recorded, "Stop Podcasting Yourself;" An appropriately named, but unheeded title. The show is hosted by Graham Clark, a local comic and all-around funny-man, and Dave Shumka, of CBC radio. Each week they have a guest on, who graciously joins them for just over an hour of audio.

Now, about two years ago, Dave and Graham were hosting an episode, sans guest. They came to the point in their podcast where they have a thrilling 'bit' on overheard or overread conversations. On this episode, number 230 (that's a lot of nights of sitting in the basement), Graham read an overread from a young lady in Ottawa who commented on a real estate ad she read on a bus bench. The connection of real estate and transit immediately triggers Dave's memory, as he quickly recalls one of my popular transit marketing campaigns, "Anthea in Transit." Dave explains the ad to the listeners, including a description of the source material, "Poetry in Transit." They make a few jokes about my last name, but all in all, a pretty good plug for my business. Thanks boys.

Fast forward to April of this year, when I receive a phone call from a friend. She tells me that the podcasters are at it again. Apparently my transit piece has made quite an impression amongst Vancouver's funniest people. This time a guest, Warren Bates mentions my static bench ad that has the tagline: "Anthea: The Only Name to Know in Vancouver Real Estate." Dave recalls my earlier transit ads and they all have a laugh at 'low-grade' celebrity.

Well boys, I can laugh with you. My ads are a little bit tongue and cheek, especially the Anthea in transit ones. The important thing to focus on is the exposure. I mean your podcast is heard by dozens of people across the country. That is priceless publicity.

I would also love to take you up on your reality show idea: "Ms. Poon - Can Sell Anything." We could start with Graham's old VHS tapes and move up from there. What do you think? I would offer to do a guest appearance, but the current Vancouver real estate market keeps me busy, pretty much all week.

Alright, back to work. See you in transit,

Anthea

Chinese Realtor in Vancouver

What does it mean to be a Chinese realtor in Vancouver? Everyone asks me if I speak Chinese.

Well, first of all, we need to clarify. There is no Chinese language. For all extents and purposes for all of you here in Vancouver, all you really need to remember is: I speak Mandarin AND Cantonese.

When I say that I buy and sell Vancouver real estate in English, French, Mandarin and Cantonese, it stirs some debate. Some of my Twitter and Google+ followers say that it imperative that new immigrants to Canada speak English.

So I'll add this.

BC welcomes everyone. And I am sure anyone coming here would love to learn. There are language courses, FREE language courses, that new immigrants can take once they arrive.

 The point is moot, anyway, most of my clients speak English as a second language.

 However. If you were going to buy a piece of property, wouldn't you prefer that the transaction was carried out in your first language? There is comfort in speaking your mother tongue. Also, the style of business changes from one culture to the next. I understand the differences between North American and Asian customs. My clients appreciate that I am familiar with their way.

 

Vancouver Real Estate - It's Time To Buy!

It's a buyer's market out there, people.

If you have been thinking about getting into the real estate game in Vancouver, now is your time to strike. The housing market is in a slump after a fiery summer, and you can finally get that Vancouver condo you've been after for a good 5-10% less than it was asking just six months ago.

Don't believe me? Do this little experiment on MLS.

Pick out an area and set some criteria, for example:

Townhouse/Rowhouse
2 bedroom +
1 bathroom +
West of Rupert
North of 41st
Between $400k and $500k

You will turn up about 15 places.

Click the link to see what I mean.

If you did this exact search 6 months ago - maybe 10.

Save the search, and do it again in a month's time. You'll see, it's a good way to get a feel for how the Vancouver housing market is doing.

Or, if you want a Vancouver real estate agent with her thumb on the pulse, and the negotiating skills to save you a bundle - well, there's always me.

Just sayin'!

Recently Published

Last week I was contacted by the Vancouver Observer to comment on the news that Vancouver home prices now exceed New York and London. I was asked a number of questions about the current housing market in Vancouver. Below I have posted the entire article written by Jenny Uechi, the Managing Editor of the Vancouver Observer.

Andrew Hasman has been in the business since 1993.  

"The local person is completely out of this market," he said. While skyrocketing prices have made business good, Hasman said that the current market, with housing prices rising 10-15 per cent each year, is unhealthy.

"Anytime you have extremes in markets, it's never healthy," he said. "You end up with a bubble. If the local economic base can't support these levels, then at some point you're going to have a lot of people burned big time.  It's not sustainable."

Leading real estate professionals reacted today to yesterday's news that home prices in Vancouver now exceed New York and  London's. One realtor said he believes that buyers from Mainland China have pushed the local buyers out of the market. Each cited homes bought and traded like stocks and bonds and investment properties sitting empty, but some see the Chinese home rush as a bonus to Vancouver, while another sees it as a liability.

"Many people who buy here aren't buying because they're moving here," said Hasman. 

"They're buying on speculation or to park money here ... There have been cases where people come and purchase five or six houses. No one needs five to six houses unless you're speculating."

Overseas buyers from Mainland China have been the driving force behind the price rise, Hasman said. "That's what's driving the market, really -- of single family homes that have sold in the last 18 months, I would say, they're conservatively 70 per cent, probably 80 per cent of the buyers," he said. 

He said that in some cases, the houses are placed back on the market within weeks, at a 10 per cent higher price, or simply remain empty.

Anthea Poon is a local-born agent who speaks Cantonese and some Mandarin as well as English and French. She said her skills have helped significantly in serving the Chinese clients, who  make up half of her clientele. 

Poon said that Chinese buyers view West Vancouver as the most desirable location, though East Vancouver has also started to be in demand. "Many of them are coming with cash on hand, literally. And they're buying properties at that moment." She said that the typical house in the Cambie area -- which is "hot" at the moment  -- average around $1.4 - $1.5 million, while homes in the Dunbar area are closer to $2 million. 

The high volume of foreign home buyers has provoked some unease among locals in Vancouver. Real estate entrepreneur Cam Good, whose company The Key caters largely to China-based clients, wrote in The Vancouver Sun that his office was recently "inundated with emails" by people fearing a "Chinese takeover". 

Poon said that the fear of outside buyers is unfounded, and that many Chinese buyers are here with the intention of settling down for their child's education or to enjoy a higher quality of life. "I've been fortunate to work closely with Chinese buyers and investors over the years and they are very humble, genuine and open minded people," she said. 

However, with the average Vancouver home costing many times above the average annual income (the average home in Vancouver is 9.5 times the city's median houshold income of $63,000), some people have been calling for government to step in and restrict foreign ownership. Former city councillor Peter Ladner said last month that  countries like Australia restrict foreign ownership and that Vancouver should be considering the idea. 

Poon, however, believes that shutting out Asian investors would be a mistake and would reflect negatively on Vancouver's reputation. 

"Chinese investment is a big reason we were able to survive the global economic downturn as well as we did," she said. "How can we set impositions on the very people who believed in and supported us throughout the economic recession?" 

Hasman, meanwhile, believes that government may have to step in to bring the prices down and make housing more affordable.  

-Jenny Uechi

The WestEnder

The West End is a unique corner of Vancouver's ever expanding community. It contains high-rises, character homes, quaint townhouses and plush condominiums. It is the most densely populated area in all of Canada. It also borders Canada's largest urban park.

The seawall that surrounds it offers panoramic views of the Coastal Mountains, English Bay, Kitsilano and False Creek. The bike lanes running through it offer alternative byways for transportation. The sporadic parks, built to reduce direct motor vehicle traffic, offer community gardens, social areas and green nooks for escape.

Denman, Davie Burrard and Robson are lined with culinary offerings from around the world. Always busy, these streets see more pedestrian traffic than any other sidewalks in Vancouver. Walk to dinner, then the theatre, then a late-night haunt; all can be found within blocks of each other.

The West End contains Vancouver's cultural heart, it's largest green space and the homes to some of the cities wealthiest and most important citizens.

Your entrance into this world can be facilitated through the services of Anthea Poon.