http://rossrebagliati.com/ViewBlog/ This page contains the blog. Mon, 06 Oct 2008 17:48:00 +0000 http://ubertor.com/?v=1.0 en This is an XML content feed. It is intended to be viewed in a newsreader or syndicated to another site, subject to copyright and fair use. http://rossrebagliati.com/ViewBlog/291/ http://rossrebagliati.com/ViewBlog/291/#comments Sat, 04 Oct 2008 14:44:09 +0000 General http://rossrebagliati.com/ViewBlog/291/ ET Canada coming to Lotus Land


Yvonne Zacharias, Vancouver SunPublished: Saturday, October 04, 2008


Entertainment Tonight Canada is coming west next week to shoot on location in Vancouver and Whistler.


Rick Campanelli, the perky, diminutive host of the show, sounded pretty pumped about coming out here when he showed up last week to host a red carpet event as part of the Vancouver International Film Festival.


"I love travelling Canada, I really do, whether it's out west or out east," said Campanelli over popcorn and shrimp wraps at a downtown bar.



ET Canada host Rick Campanelli loves visiting B.C.
Jenelle Schneider, Vancouver Sun


"Canadians have sort of followed my career when I first started 12 years ago on MuchMusic. The audience has grown up with me. At one point, I was dressing like a punk. Now I'm matured. Now I get to wear suits and ties. I think the viewers appreciate that as well."


Campanelli said ET Canada will use Vancouver as its studio with lots of outdoor shooting at places like Kitsilano Beach.


The agenda for the show includes a look at Michael J. Fox's favourite places, the Seth Rogan story, a feature on Michael Bublé, a set visit to the L Word, interviews with Jesse Metcalfe (Desperate Housewives) and Sarah MacLachlan, a set visit to The Guard, a whale watching excursion, a tour of Whistler with gold-medal-winning snowboarder Ross Rebagliati and Thanksgiving dinner with Rob Feenie.


"There is something about the western vibe," said Campanelli. "The westerners know how to do it up. It's more relaxed. The outdoor living is amazing."


After shooting for a week in B.C., the ET Canada team will head back to Toronto for Thanksgiving weekend, then back out to Calgary for a week of shooting there.

Read More]]> ET Canada coming to Lotus Land


Yvonne Zacharias, Vancouver SunPublished: Saturday, October 04, 2008


Entertainment Tonight Canada is coming west next week to shoot on location in Vancouver and Whistler.


Rick Campanelli, the perky, diminutive host of the show, sounded pretty pumped about coming out here when he showed up last week to host a red carpet event as part of the Vancouver International Film Festival.


"I love travelling Canada, I really do, whether it's out west or out east," said Campanelli over popcorn and shrimp wraps at a downtown bar.



ET Canada host Rick Campanelli loves visiting B.C.
Jenelle Schneider, Vancouver Sun


"Canadians have sort of followed my career when I first started 12 years ago on MuchMusic. The audience has grown up with me. At one point, I was dressing like a punk. Now I'm matured. Now I get to wear suits and ties. I think the viewers appreciate that as well."


Campanelli said ET Canada will use Vancouver as its studio with lots of outdoor shooting at places like Kitsilano Beach.


The agenda for the show includes a look at Michael J. Fox's favourite places, the Seth Rogan story, a feature on Michael Bublé, a set visit to the L Word, interviews with Jesse Metcalfe (Desperate Housewives) and Sarah MacLachlan, a set visit to The Guard, a whale watching excursion, a tour of Whistler with gold-medal-winning snowboarder Ross Rebagliati and Thanksgiving dinner with Rob Feenie.


"There is something about the western vibe," said Campanelli. "The westerners know how to do it up. It's more relaxed. The outdoor living is amazing."


After shooting for a week in B.C., the ET Canada team will head back to Toronto for Thanksgiving weekend, then back out to Calgary for a week of shooting there.

Read More ]]> http://rossrebagliati.com/ViewBlog/291/#comments http://rossrebagliati.com/ViewBlog/289/ http://rossrebagliati.com/ViewBlog/289/#comments Fri, 03 Oct 2008 16:53:00 +0000 General http://rossrebagliati.com/ViewBlog/289/ I'm heading to the Sheryl Crow concert tonight in Kelowna. Sindi Hawkins has a box for the night and invited Alexandra and I to go. I get to stay home and relax for only a few days before I have to hit the road again. I have to film some stuff for Entertainment Tonight Canada in Whistler next week. I think it is going to air on Oct. 9th. My Us Hummer commercial has started airing. I was watching CNN last night and saw the commercial so that was cool. I've been offered a few tv shows that my agent is talking over. I don't think I am going to get anytime off the winter! Things are stacking up back to back. I still have to finalize my RASTA camp dates. We are having to move the dates around to accommodate shooting schedules. One network wants to film the camps so we are trying to tie the dates into the World Cup Circuit. So much to do and so little time!


 


~Ross

Read More]]> I'm heading to the Sheryl Crow concert tonight in Kelowna. Sindi Hawkins has a box for the night and invited Alexandra and I to go. I get to stay home and relax for only a few days before I have to hit the road again. I have to film some stuff for Entertainment Tonight Canada in Whistler next week. I think it is going to air on Oct. 9th. My Us Hummer commercial has started airing. I was watching CNN last night and saw the commercial so that was cool. I've been offered a few tv shows that my agent is talking over. I don't think I am going to get anytime off the winter! Things are stacking up back to back. I still have to finalize my RASTA camp dates. We are having to move the dates around to accommodate shooting schedules. One network wants to film the camps so we are trying to tie the dates into the World Cup Circuit. So much to do and so little time!


 


~Ross

Read More ]]> http://rossrebagliati.com/ViewBlog/289/#comments http://rossrebagliati.com/ViewBlog/287/ http://rossrebagliati.com/ViewBlog/287/#comments Wed, 01 Oct 2008 14:15:58 +0000 General http://rossrebagliati.com/ViewBlog/287/ Read More]]> Read More ]]> http://rossrebagliati.com/ViewBlog/287/#comments http://rossrebagliati.com/ViewBlog/285/ http://rossrebagliati.com/ViewBlog/285/#comments Wed, 01 Oct 2008 14:15:11 +0000 General http://rossrebagliati.com/ViewBlog/285/ Check out Ross on the latest Hummer commercial:


 


Hummer.com
Click on US
Click on the homepage image
The :60 spot will come up
Click on The Experience tab and you’ll find your web video there


 


Ross is one of the dirt bikers.

Read More]]> Check out Ross on the latest Hummer commercial:


 


Hummer.com
Click on US
Click on the homepage image
The :60 spot will come up
Click on The Experience tab and you’ll find your web video there


 


Ross is one of the dirt bikers.

Read More ]]> http://rossrebagliati.com/ViewBlog/285/#comments http://rossrebagliati.com/ViewBlog/284/ http://rossrebagliati.com/ViewBlog/284/#comments Tue, 09 Sep 2008 16:05:45 +0000 General http://rossrebagliati.com/ViewBlog/284/ Private investors dominate buying and selling sides, while industrial properties were most prominent assets traded in first half of 2008

Avison Young Mid Year 2008 British Columbia Real Estate Investment Review


Vancouver, BC— British Columbia’s commercial real estate investment market continues to show stability, with significant capital chasing a limited number of properties, according to the latest survey by Avison Young Commercial Real Estate.


“Despite the economic downturn in the U.S. and the turbulence in global financial markets, the BC economy continues to trend above the national average and demonstrate resilience, with solid economic fundamentals continuing to drive demand,” comments Avison Young principal, Bob Levine.


According to Avison Young’s Mid Year 2008 British Columbia Real Estate Investment Review, during the first half of 2008 the total value of office, industrial and retail investment transactions amounted to $535 million— up from $316 million in the first half of 2007 and on pace to meet the $967 million recorded in all of 2007. (Avison Young tracks investment sales in BC greater than $5 million.)


Total number of trades also rose from 24 in the first half of 2007 to 38 during the first half of 2008. Average sale price was $14.1 million, down from the average transaction size of $20.6 million in 2007. Private investors were at the forefront on both the buying and selling sides.


Industrial properties were the most prominent assets traded between January 1 and June 30, largely influenced by the disposal of Versacold Canada Corp.’s portfolio to Kingsett Capital, which accounted for six trades (in Abbotsford, Delta and Richmond) totaling $103 million.


“Buyers continue to outnumber sellers, and the current barriers to more activity are the lack of prime product available for sale; higher borrowing costs; and, for non-prime property, a gap between vendor and buyer expectations,” explains Douglas McMurray, Avison Young’s Managing Director.


“Many owners continue to be disinclined to sell investments, which currently outperform other options. Due in part to the ongoing credit crisis and economic concerns in the U.S., buyer urgency has left the market. However, there continues to be multiple offers for first-rate product,” he says.


According to the semi-annual survey, prices for well-located prime properties have not retrenched in value over the past six months. With interest rates remaining steady, capitalization rates for prime assets are anticipated to hold firm. However, the number of deals in secondary and tertiary markets has tapered amongst all product types, and capitalization rates have increased.


“Properties in weaker locations or with vacancy/tenant covenant issues (especially in the BC interior and on Vancouver Island) as well as development sites in inferior locations are witnessing a decline in value. This is due to a change in yield expectations from buyers who are perusing properties’ investment attributes more scrupulously,” notes Levine.


He continues: “With lending practices, including debt-service coverage and loan-to-value ratios, stricter than in previous years, investors requiring high leverage may be sidelined for now. Nonetheless, interest rates remain at historic lows and there have still been a reasonable number of trades involving buyers flush with equity.”


“The remarkable increases in land values and construction costs continue to challenge new construction agendas, and this has forced attention on and increased demand for existing product,” says Levine.


According to the survey, more product is anticipated to become available over the next 12 months, especially on a quietly-marketed basis with vendors unofficially offering their property to the market or buyers making unsolicited offers.


“Driven by macro financial influences, which take longer to affect investors, real estate cycles are often less volatile and returns are typically more predictable,” comments McMurray, who says the BC investment market appears to be returning to more realistic transactional levels following the high volume of deals experienced between 2003 and 2005. “The challenges facing the market currently are a lack of listings/offerings and market pricing expectations on the part of vendors.”


Other survey highlights:


Buyer Profile:


Private investors dominated the buyer side during the first six months of 2008, purchasing $319 million worth of investment properties— up from $199 million during the first half of 2007. This buying group accounted for 68% (26 of 38) of the trades and 59% of the dollar volume to-date in 2008.


There continues to be interest from large pension funds, which were responsible for 21% (8 of 38) of the transactions and 33% ($179 million) of the dollar volume during the first half of 2008. Meanwhile, REIT acquisitions have slowed due to lack of appetite from the capital markets to provide equity. There was also interest from government and public companies.


Avison Young principal Robert Gritten comments: “Buyers are generally confident in BC’s economy, willing to invest and have access to capital. They do, however, expect a better yield as a matter of course because that is what the rest of North America is experiencing.”


“Until the gap between what buyers are willing to pay and what sellers are willing to accept shrinks, activity volume will continue to be affected. The big challenge for some buyers will be availability of debt. However, while financing terms in the short run are more onerous, there are still significant levels of equity seeking deals,” says Gritten.


Seller Profile:


Private investors were also the largest class of vendors during the first six months of 2008, selling $337 million worth of property— up from $204 million during the first half of 2007. This seller group represented 68% (26 of 38) of the transactions and 63% of the dollar volume. The next most active groups were public companies, followed by institutional investors.


According to McMurray: “Although BC’s investment market has not been affected nearly as significantly as in other markets, it has not been impervious to the national economic slowdown, as evidenced by lower activity levels. As real estate pricing and activity levels typically trail the overall economy by months and sometimes years, vendors are not currently motivated to meet buyers’ expectations, which have changed for other than prime real estate. It may take several quarters for sellers’ expectations to adjust.”


Industrial Investment Market:


The industrial investment market remains active, with demand continuing to significantly exceed supply due to the lack of available product. During the first half of 2008, industrial investment trades accounted for 51% ($274 million) of the total volume. This already exceeds the $168 million worth of industrial properties traded in all of 2007.


The dwindling supply of industrial-zoned and serviced land has continued to drive escalating land values. This demand-supply imbalance has pushed up average land prices an astounding 75% over the past four years to more than $1 million per acre in most markets, and as much as $4 million per acre in urban Vancouver city locations.


Solid well-located, well-tenanted properties sell quickly, with numerous buyers vying for the opportunity. Capitalization rates, which have been steadily declining since 2004, are holding firm in the 6.0% to 6.5% range for premium properties in Vancouver and 7.0% to 8.0% range for secondary properties or those in smaller non-core markets.


According to Gritten, secondary markets will continue to see a widening of the spread in yields over primary markets. “Today a warehouse in Kamloops, BC will trade in the 7.5% to 8.5% range, while that same building in Burnaby will trade for 6.0% to 6.75%. In recent years, that gap would have been only 100 basis points instead of the 150 to 200 basis points experienced now. Prior to this bull market (pre-2000) the gap was 200 to 300 basis points, and over time this spread is expected to return,” he says.


The average value of an industrial building has risen dramatically over the past two years. “Property is selling at rates never seen before,” stresses Gritten. “There are current offerings at $150 to $170 per square foot (psf) for well-situated, single-tenant buildings.” The strata market also remains strong, with units now tagged at $180 to $230 psf. This is up 30% over the past two years, and 100% over the past seven years.


Adds Gritten: “Worth watching is how the recent rise in transportation costs, as a result of escalating energy costs, may force some national logistics companies to consider opening smaller distribution centres closer to the markets they serve. It makes little sense to ship Asian product landing in Vancouver, to a distribution centre in Alberta, and then back to the retailer in BC.”


Office Investment Market:


During the first half of 2008, the number of office property trades was spotty due to the scarce supply of quality office investment stock. Owners have been reluctant to sell due to a lack of re-investment options, and a belief that office rents have more room to grow than do retail and industrial rents.


Most of the recorded trades represented properties in Vancouver. There have been no sales in the financial core thus far in 2008. For buyers and sellers, escalating rents and low vacancies have created favorable market dynamics. While institutional players typically chase trophy properties, many other buyers are pursuing suburban buildings.


Land and construction costs have pushed the average replacement cost to more than $500 psf. Capitalization rates are holding steady in the 5.0% to 6.0% range. While the demand for strata space is strong, the price of admission remains high at $750 psf for shell space only.


“There are dispositions proceeding for the latter half of 2008, but unless sellers’ expectations meet those of buyers, some of these potential transactions may not complete,” notes Levine.


Retail Investment Market:


Stymied by a deficit of quality product for sale, the retail investment market remains relatively quiet. Between January 1 and June 30, retail investment trades accounted for 26% ($138 million) of the total volume— slightly below the activity levels of the previous six-month period but on track to meet 2007’s year-end performance.


While there are many buyers for premium retail centres, the market has witnessed a lack of enclosed mall sales. Most of the recent deals in the past year have involved grocery-anchored and neighbourhood strips, and smaller regional centres in the BC interior and on Vancouver Island. Capitalization rates in Metro Vancouver have generally remained stable in the 6.0% to 6.5% range for quality food-anchored and big box centres and in the 6.5% to 7.5% range for quality enclosed malls.


Elsewhere in BC, capitalization rates are starting to rise. “Many vendors have been seeking the same capitalization rates as in Metro Vancouver, but they’re not there to be had,” says Levine. “In the BC interior and on Vancouver Island, most product currently being offered is priced above what buyers are willing to pay. Many shopping centres have not sold because owners want last year’s price.”


Levine adds: “While the real estate market appears to be in a transitional period, the lending community is still paying attention to quality projects with quality borrowers. There is still a tremendous appetite for quality retail assets and significant capital is available.”


---


“Overall, while investors are not entirely immune from the capital markets issues south of the border, buyers continue to look favorably at BC’s real estate market,” comments McMurray. “There continues to be plenty of equity targeting real estate, as investors have historically been drawn to its relatively stable and predictable returns. All property sectors share positive prospects, and investment sales in all categories are still commanding high prices. We expect demand to remain healthy in the foreseeable future.”


Avison Young is a 100% partner-owned Canadian commercial real estate company comprising more than 300 real estate professionals in 11 offices across Canada. Through its alliance with Grubb & Ellis, one of America's largest commercial real estate firms, Avison Young is able to provide its clients with a full range of property solutions around the world.


For the full report-- “Avison Young Mid Year 2008 British Columbia Real Estate Investment Review”

Read More]]> Private investors dominate buying and selling sides, while industrial properties were most prominent assets traded in first half of 2008

Avison Young Mid Year 2008 British Columbia Real Estate Investment Review


Vancouver, BC— British Columbia’s commercial real estate investment market continues to show stability, with significant capital chasing a limited number of properties, according to the latest survey by Avison Young Commercial Real Estate.


“Despite the economic downturn in the U.S. and the turbulence in global financial markets, the BC economy continues to trend above the national average and demonstrate resilience, with solid economic fundamentals continuing to drive demand,” comments Avison Young principal, Bob Levine.


According to Avison Young’s Mid Year 2008 British Columbia Real Estate Investment Review, during the first half of 2008 the total value of office, industrial and retail investment transactions amounted to $535 million— up from $316 million in the first half of 2007 and on pace to meet the $967 million recorded in all of 2007. (Avison Young tracks investment sales in BC greater than $5 million.)


Total number of trades also rose from 24 in the first half of 2007 to 38 during the first half of 2008. Average sale price was $14.1 million, down from the average transaction size of $20.6 million in 2007. Private investors were at the forefront on both the buying and selling sides.


Industrial properties were the most prominent assets traded between January 1 and June 30, largely influenced by the disposal of Versacold Canada Corp.’s portfolio to Kingsett Capital, which accounted for six trades (in Abbotsford, Delta and Richmond) totaling $103 million.


“Buyers continue to outnumber sellers, and the current barriers to more activity are the lack of prime product available for sale; higher borrowing costs; and, for non-prime property, a gap between vendor and buyer expectations,” explains Douglas McMurray, Avison Young’s Managing Director.


“Many owners continue to be disinclined to sell investments, which currently outperform other options. Due in part to the ongoing credit crisis and economic concerns in the U.S., buyer urgency has left the market. However, there continues to be multiple offers for first-rate product,” he says.


According to the semi-annual survey, prices for well-located prime properties have not retrenched in value over the past six months. With interest rates remaining steady, capitalization rates for prime assets are anticipated to hold firm. However, the number of deals in secondary and tertiary markets has tapered amongst all product types, and capitalization rates have increased.


“Properties in weaker locations or with vacancy/tenant covenant issues (especially in the BC interior and on Vancouver Island) as well as development sites in inferior locations are witnessing a decline in value. This is due to a change in yield expectations from buyers who are perusing properties’ investment attributes more scrupulously,” notes Levine.


He continues: “With lending practices, including debt-service coverage and loan-to-value ratios, stricter than in previous years, investors requiring high leverage may be sidelined for now. Nonetheless, interest rates remain at historic lows and there have still been a reasonable number of trades involving buyers flush with equity.”


“The remarkable increases in land values and construction costs continue to challenge new construction agendas, and this has forced attention on and increased demand for existing product,” says Levine.


According to the survey, more product is anticipated to become available over the next 12 months, especially on a quietly-marketed basis with vendors unofficially offering their property to the market or buyers making unsolicited offers.


“Driven by macro financial influences, which take longer to affect investors, real estate cycles are often less volatile and returns are typically more predictable,” comments McMurray, who says the BC investment market appears to be returning to more realistic transactional levels following the high volume of deals experienced between 2003 and 2005. “The challenges facing the market currently are a lack of listings/offerings and market pricing expectations on the part of vendors.”


Other survey highlights:


Buyer Profile:


Private investors dominated the buyer side during the first six months of 2008, purchasing $319 million worth of investment properties— up from $199 million during the first half of 2007. This buying group accounted for 68% (26 of 38) of the trades and 59% of the dollar volume to-date in 2008.


There continues to be interest from large pension funds, which were responsible for 21% (8 of 38) of the transactions and 33% ($179 million) of the dollar volume during the first half of 2008. Meanwhile, REIT acquisitions have slowed due to lack of appetite from the capital markets to provide equity. There was also interest from government and public companies.


Avison Young principal Robert Gritten comments: “Buyers are generally confident in BC’s economy, willing to invest and have access to capital. They do, however, expect a better yield as a matter of course because that is what the rest of North America is experiencing.”


“Until the gap between what buyers are willing to pay and what sellers are willing to accept shrinks, activity volume will continue to be affected. The big challenge for some buyers will be availability of debt. However, while financing terms in the short run are more onerous, there are still significant levels of equity seeking deals,” says Gritten.


Seller Profile:


Private investors were also the largest class of vendors during the first six months of 2008, selling $337 million worth of property— up from $204 million during the first half of 2007. This seller group represented 68% (26 of 38) of the transactions and 63% of the dollar volume. The next most active groups were public companies, followed by institutional investors.


According to McMurray: “Although BC’s investment market has not been affected nearly as significantly as in other markets, it has not been impervious to the national economic slowdown, as evidenced by lower activity levels. As real estate pricing and activity levels typically trail the overall economy by months and sometimes years, vendors are not currently motivated to meet buyers’ expectations, which have changed for other than prime real estate. It may take several quarters for sellers’ expectations to adjust.”


Industrial Investment Market:


The industrial investment market remains active, with demand continuing to significantly exceed supply due to the lack of available product. During the first half of 2008, industrial investment trades accounted for 51% ($274 million) of the total volume. This already exceeds the $168 million worth of industrial properties traded in all of 2007.


The dwindling supply of industrial-zoned and serviced land has continued to drive escalating land values. This demand-supply imbalance has pushed up average land prices an astounding 75% over the past four years to more than $1 million per acre in most markets, and as much as $4 million per acre in urban Vancouver city locations.


Solid well-located, well-tenanted properties sell quickly, with numerous buyers vying for the opportunity. Capitalization rates, which have been steadily declining since 2004, are holding firm in the 6.0% to 6.5% range for premium properties in Vancouver and 7.0% to 8.0% range for secondary properties or those in smaller non-core markets.


According to Gritten, secondary markets will continue to see a widening of the spread in yields over primary markets. “Today a warehouse in Kamloops, BC will trade in the 7.5% to 8.5% range, while that same building in Burnaby will trade for 6.0% to 6.75%. In recent years, that gap would have been only 100 basis points instead of the 150 to 200 basis points experienced now. Prior to this bull market (pre-2000) the gap was 200 to 300 basis points, and over time this spread is expected to return,” he says.


The average value of an industrial building has risen dramatically over the past two years. “Property is selling at rates never seen before,” stresses Gritten. “There are current offerings at $150 to $170 per square foot (psf) for well-situated, single-tenant buildings.” The strata market also remains strong, with units now tagged at $180 to $230 psf. This is up 30% over the past two years, and 100% over the past seven years.


Adds Gritten: “Worth watching is how the recent rise in transportation costs, as a result of escalating energy costs, may force some national logistics companies to consider opening smaller distribution centres closer to the markets they serve. It makes little sense to ship Asian product landing in Vancouver, to a distribution centre in Alberta, and then back to the retailer in BC.”


Office Investment Market:


During the first half of 2008, the number of office property trades was spotty due to the scarce supply of quality office investment stock. Owners have been reluctant to sell due to a lack of re-investment options, and a belief that office rents have more room to grow than do retail and industrial rents.


Most of the recorded trades represented properties in Vancouver. There have been no sales in the financial core thus far in 2008. For buyers and sellers, escalating rents and low vacancies have created favorable market dynamics. While institutional players typically chase trophy properties, many other buyers are pursuing suburban buildings.


Land and construction costs have pushed the average replacement cost to more than $500 psf. Capitalization rates are holding steady in the 5.0% to 6.0% range. While the demand for strata space is strong, the price of admission remains high at $750 psf for shell space only.


“There are dispositions proceeding for the latter half of 2008, but unless sellers’ expectations meet those of buyers, some of these potential transactions may not complete,” notes Levine.


Retail Investment Market:


Stymied by a deficit of quality product for sale, the retail investment market remains relatively quiet. Between January 1 and June 30, retail investment trades accounted for 26% ($138 million) of the total volume— slightly below the activity levels of the previous six-month period but on track to meet 2007’s year-end performance.


While there are many buyers for premium retail centres, the market has witnessed a lack of enclosed mall sales. Most of the recent deals in the past year have involved grocery-anchored and neighbourhood strips, and smaller regional centres in the BC interior and on Vancouver Island. Capitalization rates in Metro Vancouver have generally remained stable in the 6.0% to 6.5% range for quality food-anchored and big box centres and in the 6.5% to 7.5% range for quality enclosed malls.


Elsewhere in BC, capitalization rates are starting to rise. “Many vendors have been seeking the same capitalization rates as in Metro Vancouver, but they’re not there to be had,” says Levine. “In the BC interior and on Vancouver Island, most product currently being offered is priced above what buyers are willing to pay. Many shopping centres have not sold because owners want last year’s price.”


Levine adds: “While the real estate market appears to be in a transitional period, the lending community is still paying attention to quality projects with quality borrowers. There is still a tremendous appetite for quality retail assets and significant capital is available.”


---


“Overall, while investors are not entirely immune from the capital markets issues south of the border, buyers continue to look favorably at BC’s real estate market,” comments McMurray. “There continues to be plenty of equity targeting real estate, as investors have historically been drawn to its relatively stable and predictable returns. All property sectors share positive prospects, and investment sales in all categories are still commanding high prices. We expect demand to remain healthy in the foreseeable future.”


Avison Young is a 100% partner-owned Canadian commercial real estate company comprising more than 300 real estate professionals in 11 offices across Canada. Through its alliance with Grubb & Ellis, one of America's largest commercial real estate firms, Avison Young is able to provide its clients with a full range of property solutions around the world.


For the full report-- “Avison Young Mid Year 2008 British Columbia Real Estate Investment Review”

Read More ]]> http://rossrebagliati.com/ViewBlog/284/#comments http://rossrebagliati.com/ViewBlog/282/ http://rossrebagliati.com/ViewBlog/282/#comments Tue, 09 Sep 2008 16:02:37 +0000 General http://rossrebagliati.com/ViewBlog/282/ New MLS® residential listing levels reach new heights in July


OTTAWA – August 29th, 2008 – The number of new listings of homes for sale on the Multiple Listing Service® (MLS®) of all real estate Boards in Canada set a new record in July 2008, according to MLS® statistics released by The Canadian Real Estate Association (CREA).


New MLS® residential listings numbered 80,147 units in July 2008, up 1.4 per cent from the previous month and 0.5 per cent above the previous record set in May 2008. This is the first time in any month that new listings surpassed eighty thousand units.


The number of new listings scaled to new heights in Ontario and Quebec, and in Manitoba climbed to their second-highest level since the beginning of the new millennium. This more than offset a monthly decline in the number of new listings in Alberta, where levels continue retreating from the peak reached in March.


Seasonally adjusted national sales activity in July 2008 was stable compared to the previous month. It has been holding steady since posting a 6.0 per cent month-over-month decline in February. Monthly activity rose in Alberta, Nova Scotia and Prince Edward Island for the second time in as many months. Activity also rose on a month-over-month basis in Newfoundland & Labrador. The monthly increase in activity in these provinces was offset by a monthly decline in activity in British Columbia, Ontario, and Quebec.


Sales activity set a new monthly record in Manitoba, and in Newfoundland & Labrador. It also climbed to its highest point on record for the year-to-date in these provinces.


Resale housing market balance is represented by sales as a percentage of new listings. The continuing rise in the number of new listings is resulting in a considerably more balanced resale housing market this year than buyers faced last year. This trend is most apparent in British Columbia and Saskatchewan, which remained the most balanced provincial markets in July. The market is showing signs of stabilizing in Alberta, where new listings have declined and market balance has tightened in each of the months from April to July 2008.


The national MLS® residential average price eased by 2.4 per cent year-over-year in July 2008, compared to the average price decline of 3.6 per cent in the major markets in Canada reported by CREA earlier this month. The MLS® price decline reflects softening average prices in Alberta and an increase in the province’s share of national sales activity compared to year-ago levels. By contrast, residential average price climbed to its highest level for the month of July in all other provinces except British Columbia, and its highest level ever in Newfoundland & Labrador. Average price for the year to date (as of July 2008) is 2.7 percent above where it stood over the same period last year.


Seasonally adjusted dollar volume for MLS® sales totaled $11.8 billion in July 2008, climbing to the highest level ever in Manitoba and Nova Scotia. It also reached the highest level on record for the month of July in Quebec, New Brunswick, and Newfoundland & Labrador. Volume for the year to date in July also achieved the second highest level on record, down 16.6 per cent from the peak last year.


"To keep things in perspective, 2007 was a record year for MLS® sales in Canada," says the President of The Canadian Real Estate Association, Calvin Lindberg. "The fact that sales volume continue at levels so close to that record year indicates what a dynamic and active real estate market there is in many regions of the country."


"The other factor is that the more listings there are on the market, the bigger the impact on the average price," the CREA President adds. "It means a market when buyers have more options, and sellers must be realistic in their pricing expectations. A REALTOR® has expertise and marketing resources to help both."

"The trend for new listings generally reflects recent price trends," said CREA Chief Economist Gregory Klump. "While still elevated, new listings in Alberta are easing and market balance is stabilizing now that prices there have softened. Similar trends are expected to play out in other western provinces where prices posted sharp gains last year," he said.
Read More]]> New MLS® residential listing levels reach new heights in July


OTTAWA – August 29th, 2008 – The number of new listings of homes for sale on the Multiple Listing Service® (MLS®) of all real estate Boards in Canada set a new record in July 2008, according to MLS® statistics released by The Canadian Real Estate Association (CREA).


New MLS® residential listings numbered 80,147 units in July 2008, up 1.4 per cent from the previous month and 0.5 per cent above the previous record set in May 2008. This is the first time in any month that new listings surpassed eighty thousand units.


The number of new listings scaled to new heights in Ontario and Quebec, and in Manitoba climbed to their second-highest level since the beginning of the new millennium. This more than offset a monthly decline in the number of new listings in Alberta, where levels continue retreating from the peak reached in March.


Seasonally adjusted national sales activity in July 2008 was stable compared to the previous month. It has been holding steady since posting a 6.0 per cent month-over-month decline in February. Monthly activity rose in Alberta, Nova Scotia and Prince Edward Island for the second time in as many months. Activity also rose on a month-over-month basis in Newfoundland & Labrador. The monthly increase in activity in these provinces was offset by a monthly decline in activity in British Columbia, Ontario, and Quebec.


Sales activity set a new monthly record in Manitoba, and in Newfoundland & Labrador. It also climbed to its highest point on record for the year-to-date in these provinces.


Resale housing market balance is represented by sales as a percentage of new listings. The continuing rise in the number of new listings is resulting in a considerably more balanced resale housing market this year than buyers faced last year. This trend is most apparent in British Columbia and Saskatchewan, which remained the most balanced provincial markets in July. The market is showing signs of stabilizing in Alberta, where new listings have declined and market balance has tightened in each of the months from April to July 2008.


The national MLS® residential average price eased by 2.4 per cent year-over-year in July 2008, compared to the average price decline of 3.6 per cent in the major markets in Canada reported by CREA earlier this month. The MLS® price decline reflects softening average prices in Alberta and an increase in the province’s share of national sales activity compared to year-ago levels. By contrast, residential average price climbed to its highest level for the month of July in all other provinces except British Columbia, and its highest level ever in Newfoundland & Labrador. Average price for the year to date (as of July 2008) is 2.7 percent above where it stood over the same period last year.


Seasonally adjusted dollar volume for MLS® sales totaled $11.8 billion in July 2008, climbing to the highest level ever in Manitoba and Nova Scotia. It also reached the highest level on record for the month of July in Quebec, New Brunswick, and Newfoundland & Labrador. Volume for the year to date in July also achieved the second highest level on record, down 16.6 per cent from the peak last year.


"To keep things in perspective, 2007 was a record year for MLS® sales in Canada," says the President of The Canadian Real Estate Association, Calvin Lindberg. "The fact that sales volume continue at levels so close to that record year indicates what a dynamic and active real estate market there is in many regions of the country."


"The other factor is that the more listings there are on the market, the bigger the impact on the average price," the CREA President adds. "It means a market when buyers have more options, and sellers must be realistic in their pricing expectations. A REALTOR® has expertise and marketing resources to help both."

"The trend for new listings generally reflects recent price trends," said CREA Chief Economist Gregory Klump. "While still elevated, new listings in Alberta are easing and market balance is stabilizing now that prices there have softened. Similar trends are expected to play out in other western provinces where prices posted sharp gains last year," he said.
Read More ]]> http://rossrebagliati.com/ViewBlog/282/#comments http://rossrebagliati.com/ViewBlog/280/ http://rossrebagliati.com/ViewBlog/280/#comments Tue, 09 Sep 2008 16:02:07 +0000 General http://rossrebagliati.com/ViewBlog/280/ Revelstoke


From a charming community town to an emerging world-class resort


In January of 2007 an anticipated major public announcement was presented to the local citizens and various media personnel. A $1 billion four-season resort will be built and completed over 15 years which will include housing units, hotel suites, commercial and retail space, plus a signature golf course designed by Nick Faldo.


A picturesque four-season resort community of just over 8,000 residents, Revelstoke, B.C., is located on the Columbia River between the Selkirk and Monashee mountains, surrounded by deep glacial lakes and pristine alpine terrain. It's 190 km northeast of Kelowna, 631 km east of Vancouver and 413 km west of Calgary in southeastern B.C. Incorporated in 1899, Revelstoke is known for its Victorian-era heritage buildings, 12 metres or more of powder annually and small-town hospitality. Community events like farmers' markets, winter festivals and live summer entertainment make Revelstoke a popular year-round destination, in addition to the phenomenal ski and snowmobiling terrain.


Revelstoke ? the mountain & resort:


The Mountain
Official mountain name: Mount Mackenzie
Mountain range: Selkirk Range, Columbia Mountains
Base elevation: 500 metres
Summit elevation: 2460 metres
Vertical drop: (2008-9) 1829 metres
Average annual snowfall mid-moutain: 12 metres


The Resort
New resort name: Revelstoke Mountain Resort
Development company: Simpson Property Group Canada
Capital investment: more than $1 billion
Master plan: More than 5,000 homes, including 2,000 hotel suites, 1,500 condo units, 850 townhomes and 550 single family lots. More
than 500,000 square feet of commercial/retail space is also proposed. An 18-hole signature golf course, summer sightseeing gondola,
extensive hiking and mountain biking trails, and a village heli-centre are all part of the proposed village master plan.


Check out these wonderful properties in great locations:


Simpson Property Group: Revelstoke Mountain Resort
BC Business: How Revelstoke was Built (slide show)

Read More]]> Revelstoke


From a charming community town to an emerging world-class resort


In January of 2007 an anticipated major public announcement was presented to the local citizens and various media personnel. A $1 billion four-season resort will be built and completed over 15 years which will include housing units, hotel suites, commercial and retail space, plus a signature golf course designed by Nick Faldo.


A picturesque four-season resort community of just over 8,000 residents, Revelstoke, B.C., is located on the Columbia River between the Selkirk and Monashee mountains, surrounded by deep glacial lakes and pristine alpine terrain. It's 190 km northeast of Kelowna, 631 km east of Vancouver and 413 km west of Calgary in southeastern B.C. Incorporated in 1899, Revelstoke is known for its Victorian-era heritage buildings, 12 metres or more of powder annually and small-town hospitality. Community events like farmers' markets, winter festivals and live summer entertainment make Revelstoke a popular year-round destination, in addition to the phenomenal ski and snowmobiling terrain.


Revelstoke ? the mountain & resort:


The Mountain
Official mountain name: Mount Mackenzie
Mountain range: Selkirk Range, Columbia Mountains
Base elevation: 500 metres
Summit elevation: 2460 metres
Vertical drop: (2008-9) 1829 metres
Average annual snowfall mid-moutain: 12 metres


The Resort
New resort name: Revelstoke Mountain Resort
Development company: Simpson Property Group Canada
Capital investment: more than $1 billion
Master plan: More than 5,000 homes, including 2,000 hotel suites, 1,500 condo units, 850 townhomes and 550 single family lots. More
than 500,000 square feet of commercial/retail space is also proposed. An 18-hole signature golf course, summer sightseeing gondola,
extensive hiking and mountain biking trails, and a village heli-centre are all part of the proposed village master plan.


Check out these wonderful properties in great locations:


Simpson Property Group: Revelstoke Mountain Resort
BC Business: How Revelstoke was Built (slide show)

Read More ]]> http://rossrebagliati.com/ViewBlog/280/#comments http://rossrebagliati.com/ViewBlog/278/ http://rossrebagliati.com/ViewBlog/278/#comments Tue, 09 Sep 2008 16:01:16 +0000 General http://rossrebagliati.com/ViewBlog/278/ Congratulations to our Canadian Olympic Medal winners!


3 Gold 9 Silver 6 Bronze


What made these incredible athletes perform to Olympic levels? Besides their god-given talents and hard work, it's also the place they call home that implanted the seeds to becoming the great athletes that they are today.


Here are some links to the cities of some of our medaled athletes from BC.


Mike Lewis, Howard Malcolm, Dominic Seiterle, David Calder - Rowing / Simon Witfield - Triathlon / Ryan Cochran - Swimming: Victoria
Ian Brambell - Rowing: Brentwood Bay
Kevin Light - Rowing: Sidney
Ben Rutledge - Rowing: Cranbrook
Kyle Hamilton - Rowing: Richmond
Carol Huynh - Wrestling: Hazelton
Scott Frandsen - Rowing: Kelowna

Read More]]> Congratulations to our Canadian Olympic Medal winners!


3 Gold 9 Silver 6 Bronze


What made these incredible athletes perform to Olympic levels? Besides their god-given talents and hard work, it's also the place they call home that implanted the seeds to becoming the great athletes that they are today.


Here are some links to the cities of some of our medaled athletes from BC.


Mike Lewis, Howard Malcolm, Dominic Seiterle, David Calder - Rowing / Simon Witfield - Triathlon / Ryan Cochran - Swimming: Victoria
Ian Brambell - Rowing: Brentwood Bay
Kevin Light - Rowing: Sidney
Ben Rutledge - Rowing: Cranbrook
Kyle Hamilton - Rowing: Richmond
Carol Huynh - Wrestling: Hazelton
Scott Frandsen - Rowing: Kelowna

Read More ]]> http://rossrebagliati.com/ViewBlog/278/#comments http://rossrebagliati.com/ViewBlog/276/ http://rossrebagliati.com/ViewBlog/276/#comments Mon, 08 Sep 2008 20:22:09 +0000 General http://rossrebagliati.com/ViewBlog/276/ PEAK 2 PEAK GONDOLA ROPEWORK COMPLETE


Twenty-eight Sky Cabins arrive from Switzerland including two with glass floors





WHISTLER, BC, September 8, 2008 –The completion of the PEAK 2 PEAK Gondola ropework and the arrival of 28 Sky Cabins set the stage for what will be the biggest construction milestone of the lift installation – the first Sky Cabin to cross the record-breaking 3 kilometre/1.88 mile, unsupported span between Whistler and Blackcomb mountains.


 


“With the haul rope spliced and all 28 Sky Cabins transported to the Blackcomb terminal, our next objective will be to get the cabins on the line and to send 12 across the span to Whistler,” says Rick Temple, PEAK 2 PEAK Gondola Construction Manager. “We are aiming to send them over by mid to late September, and are on track for the upcoming December grand opening.”


 


The Sky Cabins were shipped across the Atlantic from Olten, Switzerland where they were manufactured by CWA, global leader in design and construction of cableway vehicles. The Sky Cabins were then loaded onto ten trucks for the journey through Canada. Two cabins feature glass floors, enclosed by a railing, for a bird’s eye view of the Fitzsimmon’s Valley 436 metres/1,430 feet below.


 


Another significant milestone was the splicing of the haul rope to create a continuous loop, which took place August 29 and 30.  The splice was 68 metres/220 feet long, and took a crew of 14 people over 15 hours to complete.  Norm Duke, a FATZER AG certified splicer from Wyoming, lead the team of seven Whistler Blackcomb employees and six Doppelmayr/Garaventa employees to complete the job. Duke has spliced many of Whistler Blackcomb’s FATZER AG ropes and spliced the Symphony Express rope in 2006. The splice was achieved by untwining strands from each end of the steel cable and then re-braiding them together to ensure a perfect bind that maintains the haul rope’s diameter of 46mm.


 


Doppelmayr’s unique 3S gondola technology has each cabin traveling along two 56mm track ropes which bear the weight of the Sky Cabins, with the haul rope pulling in the middle of the two tracks. The haul rope was the only splice needed for the PEAK 2 PEAK Gondola since the track ropes are stationary and do not loop from Blackcomb to Whistler.





The terminal buildings are nearing completion with cladding installation in the final stages and station set-up taking place. Construction progress of the PEAK 2 PEAK Gondola is captured daily via webcams, and weekly via photography and construction blogs on the PEAK 2 PEAK Gondola microsite at www.whistlerblackcomb.com. The PEAK 2 PEAK Gondola will open in December.

Read More]]> PEAK 2 PEAK GONDOLA ROPEWORK COMPLETE


Twenty-eight Sky Cabins arrive from Switzerland including two with glass floors





WHISTLER, BC, September 8, 2008 –The completion of the PEAK 2 PEAK Gondola ropework and the arrival of 28 Sky Cabins set the stage for what will be the biggest construction milestone of the lift installation – the first Sky Cabin to cross the record-breaking 3 kilometre/1.88 mile, unsupported span between Whistler and Blackcomb mountains.


 


“With the haul rope spliced and all 28 Sky Cabins transported to the Blackcomb terminal, our next objective will be to get the cabins on the line and to send 12 across the span to Whistler,” says Rick Temple, PEAK 2 PEAK Gondola Construction Manager. “We are aiming to send them over by mid to late September, and are on track for the upcoming December grand opening.”


 


The Sky Cabins were shipped across the Atlantic from Olten, Switzerland where they were manufactured by CWA, global leader in design and construction of cableway vehicles. The Sky Cabins were then loaded onto ten trucks for the journey through Canada. Two cabins feature glass floors, enclosed by a railing, for a bird’s eye view of the Fitzsimmon’s Valley 436 metres/1,430 feet below.


 


Another significant milestone was the splicing of the haul rope to create a continuous loop, which took place August 29 and 30.  The splice was 68 metres/220 feet long, and took a crew of 14 people over 15 hours to complete.  Norm Duke, a FATZER AG certified splicer from Wyoming, lead the team of seven Whistler Blackcomb employees and six Doppelmayr/Garaventa employees to complete the job. Duke has spliced many of Whistler Blackcomb’s FATZER AG ropes and spliced the Symphony Express rope in 2006. The splice was achieved by untwining strands from each end of the steel cable and then re-braiding them together to ensure a perfect bind that maintains the haul rope’s diameter of 46mm.


 


Doppelmayr’s unique 3S gondola technology has each cabin traveling along two 56mm track ropes which bear the weight of the Sky Cabins, with the haul rope pulling in the middle of the two tracks. The haul rope was the only splice needed for the PEAK 2 PEAK Gondola since the track ropes are stationary and do not loop from Blackcomb to Whistler.





The terminal buildings are nearing completion with cladding installation in the final stages and station set-up taking place. Construction progress of the PEAK 2 PEAK Gondola is captured daily via webcams, and weekly via photography and construction blogs on the PEAK 2 PEAK Gondola microsite at www.whistlerblackcomb.com. The PEAK 2 PEAK Gondola will open in December.

Read More ]]> http://rossrebagliati.com/ViewBlog/276/#comments http://rossrebagliati.com/ViewBlog/274/ http://rossrebagliati.com/ViewBlog/274/#comments Sat, 26 Jul 2008 14:27:27 +0000 General http://rossrebagliati.com/ViewBlog/274/

Sea-to-Sky Feast of Fields


 


Rebagliati Park, Whistler. Aug 30. 1-5pm




 
    
     Join the good folks from Farm Folk City Folk, for the their annual, Sea-to-Sky Feast of Fields --- a gourmet, wandering, picnic harvest festival. With a wine glass and linen napkin in hand, you can taste the very best of BC from Chefs, Vintners, Brewers, Farmers, and Food Artisans from across the Province.

     Connections are made between producers and chefs, food producers and consumers, farm folks and city folks. These connections provide an increased awareness of and appreciation for local food and agriculture, making Feast of Fields a gastronomic journey towards a sustainable, local food system.


 
    
     Tickets are $85 (children 7-12, $15; under 7, free), and they're available on-line. For more information about the event, and to purchase your tickets, click here.



Read More]]>

Sea-to-Sky Feast of Fields


 


Rebagliati Park, Whistler. Aug 30. 1-5pm




 
    
     Join the good folks from Farm Folk City Folk, for the their annual, Sea-to-Sky Feast of Fields --- a gourmet, wandering, picnic harvest festival. With a wine glass and linen napkin in hand, you can taste the very best of BC from Chefs, Vintners, Brewers, Farmers, and Food Artisans from across the Province.

     Connections are made between producers and chefs, food producers and consumers, farm folks and city folks. These connections provide an increased awareness of and appreciation for local food and agriculture, making Feast of Fields a gastronomic journey towards a sustainable, local food system.


 
    
     Tickets are $85 (children 7-12, $15; under 7, free), and they're available on-line. For more information about the event, and to purchase your tickets, click here.



Read More ]]> http://rossrebagliati.com/ViewBlog/274/#comments