Richmond Real Estates

Factors to consider when buying a vineyard in BC

Whether you are buying an existing vineyard or starting one from scratch, check out all the factors critical for the success of a vineyard (e.g. orientation of land to sun, degree of shelter, soil suitability, drainage, varieties planted, room for expansion). It is almost impossible to get a site for your vineyard with all the factors scoring the maximum scale for vine production. When too many factors that don't merit a good positive score, you are unlikely to make a decent living out of your vineyard.

            Photo used under Creative Commons from southern foodways alliance
Soil Suitability

When buying a vineyard in BC, soil in the land you plan to buy for establishing a new vineyard is very important. The easiest way to test if the soil is suitable for planting a new vineyard is of course to have professional test made on the soil. This is a service you can buy as the composition of the soil can give you a clear idea of what type of grapes it would be suitable to plant on the land.

Climate and your site terrain

It is important to make sure the climate on the BC vineyard property you plan to buy for establishing a new vineyard is right! Find out if Basque Vineyard near Ashcroft at Thompson Valley is for you.

The altitude of your site will effect what grapes you can grow on the land. Most grapes are sensitive to frost - and this has to be taken into account. Will the grapes you plan to plant actually grow well on this height?

At what direction the sun rises and where does the sun set on your vineyard? What is the slop of the property if any and can you plant your vines so you get the right exposure to the sun for your vines to grow with maximum potential and quality?

You also need to take into considerations the wind condition, any frost in the spring, and snow in the winter? A sloping property can be planted on, but you need to plan for the machinery so the vines can be reached and worked on! Basque Vineyard has all the attributes required for a thriving vineyard - a property with magnificent 360 degree view!

Is the site suitable for the grape varieties you want to plant?

If you can’t plant the grapes you plan for your vineyard, then the land is no good to establish the grapevines you want to plant! Unless, you can substitute with other varieties that are suitable without compromising the quality fruits you want from your vineyard. There is a large variety of grapes you can plant in BC with anything from early maturity variety, frost resisting vines to vines that are more resistant against fungus.

Water for your vineyard

If the land is good for the vines you plan to use, the next test is getting abundant supply of good water! Although some region in BC may have enough rainfall to sustain your crop, the supply of water is critical to meet the needs of your plants. You will need lots of water for your vineyard, so making sure that the property you plan to buy has enough access to water. Water is absolutely essential for a vineyard. The Basque Vineyard has a water system that can supply over 150 gallons of water per minute.

Return to homepage.

Photo used under Creative Commons from Zest-pk
For Sale: Basque Vineyard - all the attributes of a good vineyard is here! View listing info.

Thompson - Okanagan's Basque Vineyard - a previously thriving commercial vineyard located in the Thompson Valley near Ashcroft was in operation from 1970 to 1985. The site is consisted of 12.2 acres gentle south facing slope with sandy loam soil - most ideal for cultivating grapevines. The water pump system with a 120 gallon an hour capacity is in place to supply all the water required for a commercial vineyard here. The adjacent 31 acres can be rented or acquired to expand your production. This magnificent viewed property is most ideal for your own private estate or boutique vineyard!

Sunlight is one of the most important consideration when choosing your property in the Okanagan Valley. You should ensure that your grapes will get enough sunshine to grow at their best. Thompson Valley near Ashcroft has ideal climatic condition for a vineyard. The valley experiences dramatic changes in the seasons, with wet cold winters, mild springs, hot, dry summers, and hazy autumns.

Position of the vineyard and altitude

Thompson Valley's Basque Vineyard is located on a gentle, south facing slope above the Thompson River, with gentle wind sweeping across the slope. Basque Vineyard has a climate unique to its site. You should consider all the local factors carefully when planning what varieties of grapevines that are most suited to the site.

View Basque Vineyard listing info here.

Return to homepage.

Richmond detached home prices heading higher?

There are definite signs that home buyers were bidding up home prices in Richmond the past few weeks. As of December 27, 2010, over a 27 days period  MLXchange reported the sales of 72 detached homes in Richmond. Very strong buyer interest was reported for older homes, and when the sales were analysed, 29 of the homes sold (40% of the homes sold) were 25 years and older. Ten of these 29 homes (34%) were selling above their listing prices.

As can be seen from the summary above, there were 4 homes that were sold more than $100,000 above their listing prices. One home at #6531 Dunsany Place was sold at $1,111,111 which was $313,111 above the asking price of $798,000!

What to expect for 2011?

Gauging from the sales of these homes and strong buying activities for older detached homes, 2011 could be a good year for the Richmond real estate market. The strong demand for building lots in the Seafair area in West Richmond had resulted in older homes there selling at ever higher prices. Home prices in Seafair area were selling at around $550,000 in 2008 to $750,000 in 2009 and now at the end of 2010, older homes in Seafair area are selling at around $950,000.  

You can view detached homes for sale in Richmond using the link below:

Return to Homepage.

McNair, Richmond  -  We invite everyone to visit our open house at 81-81-10640 No 4 Road on December 5 from 2:00 PM to 4:00 PM.

Property information

 Richmond Townhouse for sale

• 1,406 sq. ft., 2 bath, 3 bdrm 2 story - MLS® $429,000

McNair, Richmond  Townhouse

Nicely updated & rarely available 2-level 3-bedroom & den townhouse with a large private backyard at "Edgemere Garden" near Ironwood Plaza. Newer counter top & appliances, great floor plan with spacious dining & living room with gas F/P. The unit has a fenced east-facing yard, recent deck addition, updated bathrooms newer furnace & hot water tank. Newer roof, balconies & exterior paint. The amenities include heated swimming pool & basketball court. Close to public transit, school and shopping centers.

Property information

Richmond Condo market update

The condo market in Richmond follows the general housing market trend in metro Vancouver, and registered significant lower sales from June to September, 2010. The average 3 months sales as recorded for the month ending September at around 125 homes is some 30% to 35% lower than the sales of 170 to 200 homes from March to May. 

The overall months of inventory for all condos and apartments in Richmond at 5.9 as shown above signals a market cooling off. Sellers of condos under 5 years old are facing more competition, and the months of inventory has climbed to 7.

More listings of new or near new resale condos can be expected in the coming months. Lower sales during the seasonally low 4th quarter, and more listings coming onto the market will exert pricing pressure on condo sales - resulting in price decline.

The media and housing industry experts are projecting accelerated erosion in condo prices between 5% to 15%.     

Should you buy pre-sale condos now?

Some home buyers are attracted to buying presale condos at prices they feel are comparable to existing resale new condos. There are uncertainty in the market that if condo prices dropped significantly, buyers may be paying more than what the condos are worth 2 years down the road.

Developers for new condo developments are expected to have a more challenging time selling their units. Many of them are reported to have included the HST cost in the condo prices to attract pre-sale home buyers.  

Resale new condos pricing trend

The selling prices for 2-bedroom, 2 bath newer condos over the past 45 days ranged from $400,000 to $450,000 (for the larger condos around 900 sq ft). This is also the price range for most new pre-sale condos developments near to the City Center of Richmond. If the housing market declines in demand and prices as projected over the next 24 months, pre-sale new home buyers could be holding to homes at much higher prices than the market. 

You can view some of the resale multi-family homes near to the City Center of Richmond here.

Return to homepage.

Thinking of buying a Richmond townhouse?

A detached home is a better choice compared to a townhouse. When you are working on a budget, and you have only around $500,000 to buy a home in Richmond BC, you are better of buying a detached home. Below are some of the reasons why buying a detached home will be a better option to you:

1) You own your land - this is the single most important reason for buying a detached home as compared to a townhouse. The lot that your home is situated on belong to you and you only, and not a part of a "unit entitlement" if your home is a townhome. Your title allows you the sole discretion how you want to add or renovate your home, and not having to be subjected to "strata rules and regulations" if your home is a townhouse.

2) Your lot has a better appreciation value - new land cannot be created, and all new homes have to be either further away from the city center or built on existing land that are either redeveloped or rezoned for development. Such lands are always more expensive to be acquired and any new homes being built, are at market values. In Richmond's history, detached homes enjoyed the highest price appreciation as compared to townhouses and condos.

3) Burden of strata fees - Each month the strata fee that owners of townhouses have to pay say in the $200 to $300 range are equivalent to carrying mortgage loans of $40,000 to $70,000. These extra payments only go up in value every year as strata fees only go up and never come down. So, effectively when you buy a townhouse of $500,000 value, you are paying a value of $550,000 for living in a townhouse.   

4) Dealing with strata rules / regulations - some home owners are having problems dealing with the rules and regulations of living in a strata complex. Many home owners cited the "strata rules / regulations" as the reason they are selling their townhouses. You have no control over what you want to do outside the confine of your home. There are more complaints and problems dealing with neighbours and the strata corporation.

5) Changes in rules - when new rules are adopted and approved by the strata corporation, the resale value of your home may be affected. Rental restrictions may be implemented after you bought into a strata townhouse complex. This may not be to your liking as you are restricted in your future plan to keep the home and rent it out. You have to deal with the uncertainty that such changes may affect your futuere plan.

So, if you can avoid buying into a townhouse complex, you are better of buying your own detached home. Here are some Richmond homes at $500,000 range that are selling at around the same price of townhouses. You can budget to spend some money and make the changes to the home to make it suitable for you and your family. 

If you need help in looking for a suitable home, you can contact me for a discussion.

Return to homepage.