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Shuchat Group Real Estate Blog

Human nature fascinates me. I have to admit that there was a period when the movie Jaws came out that I consciously made decisions while at various beaches, to not enter the water. It was only a movie. But the pervasiveness of the story and my imagination caused me to think that if conditions were not a absolutely perfect, then I wouldn’t bother entering the water.

Well this aspect of human nature also applies to investing. Jaws or FTX and the entire ocean of technology starts to be judged from a mindset of fear. We need time to process and adjust our confidence levels to get back into the water; but we inevitably will do that. Realizing this, is it not time to acknowledge that it was just a bad movie? How much time?

Well let us separate crypto and coinage from blockchain technology. The technology is incredible and not that complicated. The various coins and sharks demand a little more study.

My mind keeps taking me back to the theatre and prospects of war; Ukraine for example....
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Please visit our Open House at 34 7540 ABERCROMBIE DR in Richmond. See details here

Open House on Saturday, November 19, 2022 2:00PM - 3:30PM

Corner unit with own entrance recently renovated with updated flooring, kitchen bathrooms and countertops. Quick possession possible. Huge and airy solarium off kitchen with 2 sets of French doors for either flow through to kitchen and living room or complete privacy as a guest room or den. Large storage locker for exclusive use of unit to the right of main entrance and a private patio to connect with the outdoors. Elevator from parking lot to entry level makes grocery shopping a breeze! Open House Sat Nov 19 2-3:30

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In a recent ruling of  the Supreme Court of Canada in Annapolis Group Inc. v. Halifax Regional Municipality,  2022 SCC 36, property rights got a major boost.  It has long been argued that onerous zoning by a municipality is akin to “a taking of property” which should trigger compensation under the relevant Expropriation Act.  However, that has not been the law.  In the above case, the City of Halifax refused development applications by the appellant preferring park use.  The court held that although the test of whether an interest in property had been taken has been set out in Canadian Pacific Railway Co. v. Vancouver (City),  [2006] 1 S.C.R. 227, 2006 SCC 5  as: (1) whether the public authority has acquired a beneficial interest in the property or flowing from it; and (2) whether the state action has removed all reasonable uses of the property, there need not be an actual beneficial interest acquired if an advantage had been conferred...

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Here are some graphs which clearly illustrate the state of our real estate market in the Metro-Vancouver area.

On the inventory side, listings are very similar to last year. On all three property types, the total inventory is up by around 11%:


As far as the number of days on market, contrary to the fear in continuous media outlets about a market crash across the country, the time to sell a property has not materially increased since last year.  It has gone from 11 days to 14 days across all property types. Most appraisals will base the market value price of a property on an assumption that the property is marketed in an open market for 3-6 months. The 14 days is akin to real estate liquidity.

However, looking at the actual sales side of things we can see a marked slowdown which should be an indicator that prices should drop.


From a product absorption view, the sales to active listing ratio is comparable to October 2019. Sitting in the low 20% area represents a much more balanced market...

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This 5 minute video is a short legal history of how we got to the point where our government can intervene in a private contract. It imports references from the BNA Act, The Canadian Charter of Rights and most recently, The Property Law Amendment Act of British Columbia which provides buyers of residential real estate with a right of rescission with respect to contracts of purchase and sale for residential real estate.

https://www.loom.com/share/bda4a2f34e06490ca737f2db4596f6e0

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I just got back from the 2022 IOI Summit Conference which was all about the future of real estate technology. But before I post anything about the technology side of the event, I want to deal with the elephant in the room and say what must have been nagging at the back of some attendees' minds, depending upon their year of birth, and, sorry ladies, but I think this is a man thing. I only heard one comment on this topic but something immediately clicked in my head: it wasn’t just me.

I am not a fashionista. I am a down to earth guy struggling with Whistler/Blackkomb Mountain’s definition of a senior. So when I packed my lightest possible version of comfortable clothes for this overnighter, a debate raged in my head about the appropriate level of “executive” footware having regard to image, comfort, style and traditional business “oxfords”. I opted for comfort and chose the purest reflection of my defiant persona eschewing that Harvard/Bostonian look...
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Please visit our Open House at 34 7540 ABERCROMBIE DR in Richmond. See details here

Open House on Saturday, September 24, 2022 2:30PM - 4:00PM

Corner unit with own entrance recently renovated with updated flooring, kitchen bathrooms and countertops. Quick possession possible. Huge and airy solarium off kitchen with 2 sets of French doors for either flow through to kitchen and living room or complete privacy as a guest room or den. Large storage locker for exclusive use of unit to the right of main entrance and a private patio to connect with the outdoors. Elevator from parking lot to entry level makes grocery shopping a breeze! Open House Sat Sept 24 2:30-4 pm.

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I have listed a new property at 34 7540 ABERCROMBIE DR in Richmond. See details here

Corner unit with own entrance recently renovated with updated flooring, kitchen bathrooms and countertops. Quick possession possible. Huge and airy solarium off kitchen with 2 sets of French doors for either flow through to kitchen and living room or complete privacy as a guest room or den. Large storage locker for exclusive use of unit to the right of main entrance and a private patio to connect with the outdoors. Elevator from parking lot to entry level makes grocery shopping a breeze!

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I have sold a property at 305 1045 HOWIE AVE in Coquitlam.
Penthouse Floor! Who wants to pay for someone else's idea of what good taste is? This unit has been discounted by $50,000 to give you all of the budget to renovate it professionally to your taste! Located about 200 meters from King Albert Park, and within view of your grocery and retail shopping, this is a prime and convenient location in which to live. Great space; Great street and great walks. Bring your dreams and vision and start building your real estate position here. One small dog, or one cat or two caged birds are allowed. Up to 3 units may be rented. There is currently a waitlist of 4 units. Pkg #54 Storage #305.
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I have sold a property at 305 13380 108 AVE in Surrey.
RFreshly painted and right in the centre of the city next to sky train and a short walk to Surrey Memorial Hospital. All of the local shopping you need right in the 'hood. Ask your Realtor to make an appointment. No dogs; 1 cat allowed. No Airbnb ST type rentals. No smoking/vaping. Ready for immediate occupancy!
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