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Michele talks Stars, Feng Shui and the Most Affordable Places to Live in BC!
February 1, 2022 | Posted by: Michele Cummins
Warning! ;) This is a digitally automated transcript of the show so there will be mistakes throughout - including the spelling of Michele's name!
Curtis Pope:
it's time for the most a group show with myself Curtis Pope and of course the star of the show. Michelle Cummins. Good morning Michelle.
Michele Cummins - PREC:
Good morning Chris. You know I do have a star it's called the Michelle Nicole.
Curtis Pope:
That's right I remember you telling me about that.
Michele Cummins - PREC:
Yeah, I have a star application or app on my phone and I try to find it yesterday it's called Sky guide my app and so I was looking at the stars was cut a little after midnight and I was like, where's the Michelle Nicole? I couldn't quite find it but it's in the purse purse so anyways, I yes I have a star also to you later
Curtis Pope:
well hopefully it's still there you wouldn't want to buy a star you know get the rights to name a star and have it go supernova and disappear on you
Michele Cummins - PREC:
know well where did my star go?
Curtis Pope:
Because it takes you know, you know apparently long long long time for a star to you know go to white dwarf and all that stuff and then to supernova I don't remember the order don't send me nasty letters or anything. High school was a long time ago but the whole order of star goes in before it disappears.
Michele Cummins - PREC:
Oh, don't you do it? Well, you know I need to watch some more Star Trek episodes to get my you know constellations in my you know, all that.
Curtis Pope:
There you go. Yeah, yeah, I do my you know William Shatner, but nobody needs to hear that.
Michele Cummins - PREC:
It's so Chris the Pope's congratulations. You do you realize it's exactly your one year anniversary of your new home of your new property?
Curtis Pope:
Yeah, you know what? My wife said that to me yesterday. She's like, you know what's coming up and I went and the SIR rattling in my head. I'm like, what was no anniversaries in July? Her birthday is also in July. What am I forgetting? And then she looked at me she went I'll let you off the hook. We've been in the house for a year I went Oh, okay.
Michele Cummins - PREC:
Oh, good that it didn't go by fast.
Curtis Pope:
It went by really fast but the first year in new house always does because you have to unpack you you have to figure out the the best way to put the furniture in the living room and you're moving furniture around for those first few months and and things like that and just getting a feel for the place it definitely it definitely goes by fast.
Michele Cummins - PREC:
Yeah, and the nice thing isn't it fun when you the first season of being in your new property and it's like everything's new the first year because you have to go through all the seasons to really understand how your property works. Yeah and
Curtis Pope:
the great thing is because we have that great view of the mountains behind us and and watching the seasons change their you know the window from you know, we got in there in the winter and watching spring come and then summer and then fall and then we had all that snow this winter so that the the view is of this whole kind of beautiful, snowy, you know winter scape. It's it's been really cool.
Michele Cummins - PREC:
And then we're supposed to like go down to zero degrees and maybe have a bit more snow this coming week. Sounds like
Curtis Pope:
yeah, that's what they're saying that we could see a little bit more of the the white stuff on the ground so well that's good news for you. That keeps Richard out in the yard does shoveling that that long driveway of yours.
Michele Cummins - PREC:
That's the word we got I think the ATV for the side by side. Get rid of it that way bit packed hard. Actually, we still have huge snow mountain sides on the side of the field. That's still hard snow hasn't gone away yet. But hey, I also realized yesterday that the Groundhog Day is coming up. February 2.
Curtis Pope:
Yeah, I guess that just come to me. Yeah. It's one of those things that maybe it's just living in this part of the country, because our weather doesn't change that much in the winter really compared to other parts of the country? I don't know it's never been as big of a deal maybe just to me or maybe it's just being in in this area of the country. It's never that big deal like it is for other parts of the of North America.
Michele Cummins - PREC:
Yeah, and I think it's kind of been for me just because I've always watched Groundhog Day the movie on yesterday. Well, you gotta do that. Yeah, it's like watching Planes, Trains and Automobiles for Thanksgiving. You know, there's just It's A Wonderful Life for Christmas. And it was just certain ones you have to watch it so that's my excitement on Groundhog Day. And it's my sister in law's birthday.
Curtis Pope:
There we go. And of course gag. It's one of Bill Murray's finest performances. So
Michele Cummins - PREC:
yes, yes. And I so coming up and I wanted to mention for mostly Realtors This is a fantastic event coming up but the general public everyone I'm a member of ARIA it is an Asian Real Estate Association of America so it's so I'm a member of it and this year 2022 is the year of the Tiger and lungs way is very serious in the business in Asian and South Asians cultures but also obviously our area as well. And what is Fung? Fung Shui? So I have every year there's different aspects of it that you want to learn and then there's the main points that you want to learn and many many moons ago when I started doing staging for my listings, and I actually did the staging personally myself before I actually hired a professional stager. Yes, I did it but I wanted to know what is functionally How can I attract buyers and and what's the best place in a furniture and this and that so there's a lot that has to do with it and you know, but there is a strong purpose on it. And what roles does Fung Shui play in real estate within different cultures? Well, there is a free zoom events presented by ARIA Vancouver the membership I'm part of, it's on. Actually, well, the the bonus is that you can this event is replayed. So it is amazing. And once a year I go to it usually it's obviously where you're face to face but they didn't zoom this year so So ARIA in cases realtors out there listening ARIA Vancouver is honored to have international Fung Shui specialists and astrologer Dr Jin Z from Dubai to speak on Middle Eastern perspectives. And Lily Chung, a world renowned expert in Chinese metaphysics from San Francisco. And our very own Jerry Keane, also, a world renowned Fung Shui, and four pillars author and teacher from Vancouver will be on this video. So you definitely want to be part of it and see it if you want, you can contact me or you can you can, you know Google ARIA Vancouver and find the details. And so just wanted to mention that because good for realtors. And for the general public. This is good information, good stuff. So and I wanted to mention, okay, for later on in the show. The second session, we're going to actually have some fun, fun, Curtis,
Curtis Pope:
there's no fun allowed on this show, not on my watch.
Michele Cummins - PREC:
Time to have some fun. And we're going to talk about the 10 cheapest places to live in DC.
Curtis Pope:
I think that is an oxymoron. There are no cheap places in BC.
Michele Cummins - PREC:
I think it's about high time we find some. So we've done some digging, and we've got the 10. And that will be after the break. But for now I wanted to bring up something very timely. And it is about escalation in vacancy tax. So we've all received in the letters in the mail. And what though if you own a strata, so if you own a strata that let's say doesn't allow rentals and you're moving out, you don't want to sell it, you want to keep it maybe you want to keep it for yourself for you know, when you maybe vacation. But you don't want to sell it, let's say but you can't rent it. Well, what do you do because now your strata unit is not exempt anymore from the speculation and vacancy tax. It was last year, but no longer. So until now strat owners who were not permitted to rent out unit, they may have qualified that for that exemption. But that changes this year strata owners should be aware of this because you may be required to pay this ugly speculation and vacancy tax. If your property is unoccupied prior to the 2020 tax year if the strata owner had a covenant or a bylaw preventing properties from being rented out, then they would qualify for that exemption. This only applied if the rental restriction was in place honor before October 16 2018. Mind you and the owner also purchased the property before that date. For example, if a BC resident purchase a strata property prior to 2018, but under their strata bylaw, they are not allowed to rent it out. They will have qualified for the speculation vacancy tax exemption between 2018 and 2021 but they will have to pay the tax for 2022. If the unit remains unoccupied, so the they can see past speculation vacancy tax is an annual tax based on how owners use residential properties in major urban areas of BC. The annual tax rate is 2% of the assessed property value for properties owned by foreign owners and satellite Light families and point 5% for Canadian citizens or permanent residents. The minimum residency requirements to avoid the speculation vacancy tax are that the unit be occupied for six months 180 days out of every year. So last month the BC government released data on the speculation vacancy tax and BC residents who are captured by the tax rose by 51%. In the last year, while the number of non BC residents captured by the tax fell by 24%. The objective for the vacancy tax was to discourage housing, speculation and encourage people with vacant homes and BC to convert them to long term rentals. So that was that and quickly before we go to the break, that's it about speculation tax, you know, we bring up packs a lot because it's huge in real estate as it is in all of our daily lives every single day. But I wanted to talk now quickly about you know, commodities shipping, permits or driving up real estate prices home prices in throughout the Lower Mainland. Greater Vancouver Fraser Valley areas have steadily risen in decades regardless of economic conditions or new taxes. Governments Institute to curb market speculation. Commodity prices for things such as lumber and shipping costs are up in places like Vancouver have raised building permit fees by up to 5%. On top of that, their scarse labor, it's just been increasing and it's been a challenge and attracting labor has meant paying higher wages. Moreover, the Canadian Real Estate Association is expecting average home prices to increase this year, that's 2022 by up to 7.6%. Soaring shopping costs and other inflammatory forces reduce economic activity, which typically lowers rents and property prices could also be valuate. The Canadian Dollar consequently lower Canadian dollar would mean that the value of hard assets such as real estate would rise. So don't wait to buy. Buy. Now if you're wanting to put your money into something that steady, true, will go up and stay the test of time. It's a hard asset such like real estate. So that's my two cents on it.
Curtis Pope:
And if that doesn't work, we're gonna introduce the Cummins coin Bitcoin here next week. No just kidding.
Michele Cummins - PREC:
Hey, not a bad idea. Hey, John Lennon once said don't sit on any good idea if you have it today. Run with it.
Curtis Pope:
Okay, we'll start our Bitcoin operation on the side on the slide here. I will figure that out while we go to break here so if people want more information about you and what you do as a realtor, where can they go? Michelle, come and stop ca we're back with more right after this. She it becomes real estate group show with Michelle Cummins and myself Curtis Pope. Now Michelle, you threatened that we were going to have fun this segment.
Michele Cummins - PREC:
Oh yeah. Hold on to your hat. Hold on to your horses. And strap up those who we are on for a ride. Have fun times ahead.
Curtis Pope:
All right, well, I hope you're not over promising here.
Michele Cummins - PREC:
Well, it's the cheapest places to live in BC. If one thing is laughable. Funds laugh right. Now okay, I stretch it. Okay. So British Columbia, you know, it's a very attractive place to live. I have chosen live here. You've chosen live here. Everyone who lives here has chosen to live
Curtis Pope:
here but it wasn't I know, I didn't choose I was born here. I just haven't been smart enough to leave.
Michele Cummins - PREC:
Because you realize it's so picturesque. I mean, beautiful British Columbia. That is our saying,
Curtis Pope:
oh, you know what, and there is something to that. Sure. It's not Not cheap to live here. But you do a little bit of traveling around the country and you're like, I really do live in the best part of the country. Why would I want to move?
Michele Cummins - PREC:
Yeah, exactly. People from that have properties all over the world love this area and call it their home because it's so Scenic. And there's so many opportunities. You can actually live a pretty fulfilling life here in DC. And so you'll see all the tactical mountain views everywhere you look practically it's gorgeous. The cost of living would be in BC, though, that that seems pretty expensive, especially in major cities like Vancouver, where buying a house will cost you over well over a million dollars. Fraser Valley, well, over a million dollars going out to Chilliwack is now over a million dollars and accuracy. Over a million dollars. I mean, it's over a million dollars. Okay, so, do you want to live in DC? But are you on a tighter budget? We've got you covered here because we have the most affordable cities in British Columbia for 20 to 10 of them let me ask you this why do people move to BC?
Curtis Pope:
Well, I think there's a number of reasons for that. Number one, we do have a quality of life here that I think is hard to beat especially here in the lower mainland where we have you know, a lot milder weather than the lead the rest of the country. But you know, and just the the ability to get out into the into nature, we have that even in Vancouver 20 minutes, you're on a mountain.
Michele Cummins - PREC:
So true. Exactly the stunning nature views. The my weather the cultural diversity is so fun that you know, life is about humans and about you know, human beings and it's so neat to just learn. Like just, of course, the actor in me loves studying people and I love character and people are that and that's exactly what you said the outdoor recreational activities skiing, hiking, fishing, ATV, motorcycling, mountain biking, oh, there's so much but they also the employment and investment opportunities. So good, like amazing. And we actually have really low crime rates compared we really do and top notch educational institutions too. Oh, and the film industry huge. I did a whole TV segment on that like, part of that. But okay, so let's get into the top 10 cheapest city. Chris, what do you think? What do you think is the the cheapest the number one on the list?
Curtis Pope:
You know, I? I don't want to be a jerk and I don't want to make the joke because everybody picks on it but I want to say Kamloops has to be on the list because nobody really wants to live in Kamloops.
Michele Cummins - PREC:
Well, you know The first one is Smithers,
Curtis Pope:
Smithers okay. Yeah, Smith interesting. You know, I lived up North for a while not too far from Smithers funny enough never made it out there. But I do know that that there was talk are people wanted to make their ski hill into a more of a world class resort. You know, they want to compete with you know, like Whistler and sun peaks and all these places. And I imagine if that ever happened, it wouldn't be the one of the cheaper places to live.
Michele Cummins - PREC:
No, it wouldn't. But that's a fabulous idea. Wow, that wouldn't bring a lot of visitors a lot of people
Curtis Pope:
I have good I never made it quite out there I went fishing near it and for whatever reason thought I'll go to Smithers next time never actually made it to town. But I do here it's a quite a quaint and pretty little city. I just I've never been there.
Michele Cummins - PREC:
You know what I haven't either. I know the little. What they say about is that it's known for its top rated scheme facilities. As you mentioned, I think they are really gung ho about making that a major thing and excellent variety of recreational activities for all ages. And there's so much to see and explore and Smithers and it's definitely a city for an adventurous person. I think of my younger sisters so adventurous and house prices in Smithers are extremely cheap compared to the rest of BC. And average only $330,000 and rent is also very cheap in Smithers and can cost you only like 1300 for a two bedroom apartment. Oh wow. Yeah. Second, can you guess?
Curtis Pope:
Vanderhoof
Michele Cummins - PREC:
no second on the list is Castle guard National Guard. Okay. Yeah, so Castlebar so if you love anything that has to do with the outdoors and our castle gar is the place for you. The average house price in Castle Rock is around 400,000 which is very affordable and random kaskell guards is also affordable and averages $1,500 for a two bedroom apartment. The third on the list is Cranbrook.
Curtis Pope:
Thanks for sticking in the crew in the Kootenays here okay,
Michele Cummins - PREC:
yeah, in the good old coot me and no is known for its unique craftsmanship and outdoor activities. Cranbrook is a small and family friendly town of just a little over 20,000 people situated in a vehicle Nice. As you mentioned, the average house price in the Cranbrook is again very cheap like using that word right now I just keep on thinking of a little burgling. And it's around $400,000 for house situated on a half note a quarter acre. land rent is relatively affordable for the area with an average price of 1600 for two bedroom apartments. And number four on the list is Prince Rupert. Now located northwest of Vancouver Prince Rupert is known for its epic wildlife recently, orcas bears, along with his job opportunities in the fishing industry, house prices are cheap and average $430,000 rent is also affordable with an average price of 1300 for a two bedroom apartment. And number five on the list is Vernon Yep, located on the north side of Kelowna Vernon is a family friendly city with great job opportunities and inverting you can enjoy skiing, relaxing in a park with a picturesque view and spending some family time at the beach. House prices in Berlin are affordable and average at $440,000. Random Berlin is also affordable and averages about $1,500. I just had clients, I just refer them to an amazing Realtor in Berlin. And in fact, I if anybody's wanting to move to any of these 10 cheap places to live in BC, call me I will definitely have a good realtor for you. That will I will call them make sure they have time and they'll help you and they are good. I've spent many years really gaining good relationships and learning the realtors in the different areas because I have so many clients that move out of town of course. So anyway, so Verdun, that's great. Number six on the list is Prince George, the Prince George's suitable for outdoor lovers been golfing trails for hiking and mountain biking, you name it, it's got house prices are affordable and average at around 450,000. And right it's also cheap, an average of 1295 for a two bedroom apartment.
Curtis Pope:
And I can tell you about Prince George's. I lived there for seven years. And that market has come up quite a bit when we bought our first house there. In 2002. We bought it for under $100,000. Wow. And we sold it two years later. For double what we paid for it. Boom. Yeah, so it really it had a big jump in the in the early 2000s. They had a big jump in in the prices up there because it was once very cheap to live there.
Michele Cummins - PREC:
Okay, wait a second. How long do you live there again?
Curtis Pope:
Seven years?
Michele Cummins - PREC:
Seven years? Wow. Yeah, so seven years
Curtis Pope:
2000 to 2007. Baby
Michele Cummins - PREC:
2007 is when I moved to Michigan and from Langley and I paid 450,000 For my my place and it doubled to wow. Okay, number seven talking about seven. My property was on Seventh Avenue and you've lived there seven years and now we're on number seven for the cheapest places in DC. Vail mount I don't know this place personally,
Curtis Pope:
Belmont is it's it's like kind of towards towards Alberta in the north. You know, up and up sorted by Prince George but not really only subjectively.
Michele Cummins - PREC:
Okay, now I never had any clients who's there everywhere else on this list? Yes, but not there yet. So I'm looking for somebody wants to move there. I'm out to go visit it. I love visiting places. Okay, so I love traveling. Maybe ride my motorcycle. So this town is recognized for its lovely six snowfall training, picturesque sceneries and excellent sledding opportunities. Ah, letting they're mostly cottages and making the area very calm and serene. So it has very affordable housing. They say around 450,000 is the average price there and you can rent a two bedroom apartment for less than $1,000 which is extremely cheap for BC and talking about rents in less than 1000. I have somebody I'm listing a property this next week. And he's going to be looking for a place he wants a place to rent anywhere from mission to home. Under $1,000 A single guy, really nice guy. And if anybody has a place for rent, you know, please let me know so I can let him know. Anyways, I'm not a property manager. I'm just the messenger there for that one and wanting to help them out. So number eight on the list is somewhere local.
Curtis Pope:
You lie there's nothing local cheap.
Michele Cummins - PREC:
It we have a local on the list. And it is what nothing's past. What do you say? You coined it last week?
Curtis Pope:
Oh, if you're if you're beyond hope you're beyond hope.
Michele Cummins - PREC:
It's hope. Hope is situated less than two hours in Vancouver and hope is stunning the curb it's where rich history movies are made their films. House prices are cheap, and average. $450,000 rent is also affordable still, I've never just 1500 for a two bedroom and then the ninth one on the list is Nelson. Oh, Nelson also known as the Queen City, Nelson has exceptional skiing opportunities and studying architecture dating back to the silver rush days. And it's where they filmed Roxanne remember that movie comedy. Love it. House prices are affordable and Nelson an average $470,000 and rent to Nelson average is 1500 for two bedroom and number 10 and final on our list is Penticton. Huntington is the curb cuts per barrier of Kelowna and it's known for its great year round weather golden beaches and winery. The average house price in the kitchen is $500,000 which is a bit pricier than some other cities in BC but much more affordable than Vancouver or Fraser Valley and rent is very cheap at $1,700 for a two bedroom apartment so there you have it those are the top 10 cheapest places in DC to live
Curtis Pope:
yeah no it's interesting places on that list some places that make sense and I'm to be quite honest, I'm a little surprised Penticton would be that price because the whole Okanagan is is usually not the cheapest place to live when it comes to buying a home but it looks like Penticton is still affordable.
Michele Cummins - PREC:
Yeah, exactly. Good. Okay. Are we out of time
Curtis Pope:
we're getting there.
Michele Cummins - PREC:
Okay, so I guess I have to maybe pass something I was going to we can maybe bring it on another time but new listings because I have to talk about my new listing. So got one right now at 33107 Myrtle Avenue. We have an open house there today. And tomorrow. Please stop by Steph from my office is going to host it it's between one and 4pm She's fantastic. You will love this house. It's a rancher. It's two bedroom, one bathroom. It's on a 4000 adorable lot 1980 bills and just almost 1100 square foot house so the price on it is 799,000 cheap. And we're going to look at any and all offers on February 1 at 6pm. So come through open houses schedule a private showing. That is the newest listing that's coming through coop and it is Colas to with Christine Allen out of my REMAX little oak office admissions. I have an announcement ledgeview Park Row home 17 row homes in upscale East Abbotsford by the beautiful luxury trails and across and a few steps away from ledgeview Golf and Country Club the pre sale questionnaire our surveys going out the last day of this month. So if you want to get your hands on one of these roll homes then you have to be registered on our website at ledgeview homes.ca. so you don't miss out. Surveys will say what units you want price ranges you want all that good stuff because we are only releasing nine of the 17 rowhomes and we will release them mid February we will come out with prices mid February. And and we only have nine and we've got hundreds of people registered for this for this beautiful beautiful rowhome project so nine will be released. So be part of that and coming in the next couple of weeks. Keep an eye out we have a three bedroom, two bathroom corner condo and mission office Second Avenue coming up and they allow rentals in the building a throne like you could walk across the street, your downtown mission. The West Coast progress is right there to bring you downtown to Vancouver and we got a preconstruction two bedroom plus den coming up in rent and Raven we just sold the three bedroom and we just just yesterday got announced that we are at listing at Two bedroom plus den in there, and then also a two plus bedroom module home with lake views in Ruskin Park off Wilson admissions. That one's gonna be coming up. So keep an eye out. And, Chris, you have our quote of the week. I do
Curtis Pope:
have our quote of the week and I think you'll like this one. It's it's a pretty simple one. But, you know, I think it's a good reminder now and then. And it's if you let your head get too big, it'll break your neck. And that is from the King rock and roll Elvis Presley.
Michele Cummins - PREC:
Oh, cool. Oh my gosh, the keys and
Curtis Pope:
some good advice to stay humble. Yeah, very
Michele Cummins - PREC:
good. And it's literally true and figuratively true?
Curtis Pope:
Absolutely. All right, well, if people want more information about your listings, and what you do as a realtor, where can they
Michele Cummins - PREC:
go? They'll come and talk to you.
Curtis Pope:
And join us again next week when we will talk real estate in order to unlock your real estate potential on the show real estate is maximized. Thanks for listening
If you missed last weeks episode where Michele and Curtis talk Crypto, Land Assemblies and French Baking, please go back and take a listen - it's well worth it!