TransLink considers selling property to raise funds.

TransLink is revisiting a plan to sell assets, like the Oakridge transit station, to fund its operations, warning that while such a move is not sustainable long-term, it beats cutting much-needed transit services.

The move has surprised regional mayors — who warn it’s a “slippery slope” to take — but CEO Ian Jarvis said selling the centre and moving it to a new location could bring in $220 million. Without the sale, he said, the beleaguered transportation authority would have to rely on its surplus reserves, which would likely be depleted by 2014.

Read more: http://www.vancouversun.com/business/TransLink+considers+selling+property+raise+funds/6668897/story.html#ixzz1vnTAliB6

Home listings double in Dunbar since last year.

With more than double the number of listings from last year, homebuyers on the West Side can apparently afford to take their time.

The number of homes on the market in the Dunbar area is up almost double from this time last year, according the Real Estate Board of Greater Vancouver. Board president elect Sandra Wyant said the increased supply means buyers have more time to shop around.

A look at assessed values for single family homes across Metro Vancouver shows that approximately 70% of Metro Vancouver’s “luxury homes” are located in the City of Vancouver. Luxury homes are defined here as single family dwellings with a 2012 assessment of over $2,000,000. West Vancouver, which has long been a luxury home market, represents a further 20%, with the balance spread out across the lower mainland.

A telling statistic is that over 26% of single family dwellings in the City of Vancouver are now assessed at over $2,000,000. Over 55% of homes in the City of Vancouver (including East Vancouver) are now valued at over $1,000,000. It will be interesting to see how future economic and interest rate movements affect these numbers.

Source: BC Assessment Data