Raj Sharma

September home sales in Greater Vancouver were consistent with activity experienced in the preceding two months across most categories.
The Real Estate Board of Greater Vancouver (REBGV) reports that the number of residential property sales in Greater Vancouver totalled 2,220 in September 2010. This represents a 0.8 per cent increase compared to August 2010 and 37.6 per cent decline from the 3,559 sales in September 2009.
In comparison, last month's residential sales represent a 40.1 per cent increase over the 1,585 residential sales in September 2008, a 20 per cent decline compared to September 2007's 2,776 sales, and an 11.9 per cent decline compared to September 2006's 2,519 sales.
"We've seen fewer properties coming on to the market over the last three months. This trend, combined with the continued attraction of low interest rates, is likely having the effect of less downward pressure on home prices," Jake Moldowan, REBGV president said.
Since spring, housing prices in the region have trended slightly downward, with a decrease of 2.7 per cent compared to the all-time high reached in April when the MLSLinkR Housing Price Index (HPI) residential benchmark price was $593,419. The overall benchmark price for all residential properties in Greater Vancouver over the last 12 months has increased 5.5 per cent to $577,174 in September 2010 from $547,092 in September 2009. The current price remains consistent with last month, rising just 0.1 per cent between August and September 2010.
Total active property listings posted on the Multiple Listing ServiceR (MLSR) in Greater Vancouver currently sit at 15,401, basically unchanged compared to last month and a 22 per cent increase from September 2009. Over the last three months, active listings in the region have declined12.3 per cent.
New residential property listings posted in September declined 17.6 per cent to 4,731 compared to September 2009 when 5,746 new units were listed.
"We saw signs of more stability in our marketplace last month than we have seen since spring based on a variety of indicators that we look at each month," Moldowan said. "At 56 days, it took, on average, three days less to sell a home in our region compared to August. This is the first month-over-month decline we've seen in this category since April."
Sales of detached properties in September 2010 reached 866, a decrease of 39.1 per cent from the 1,423 detached sales recorded in September 2009, and a 58.6 per cent increase from the 546 units sold in September 2008. The benchmark price for detached properties increased 6.7 per cent from September 2009 to $790,992.
Sales of apartment properties reached 971 in September 2010, a decline of 34.7 per cent compared to the 1,489 sales in September 2009, and an increase of 27.1 per cent compared to the 764 sales in September 2008.The benchmark price of an apartment property increased 3.7 per cent from September 2009 to $388,373.
Attached property sales in September 2010 totalled 383, a decline of 40.1 per cent compared to the 647 sales in September 2009, and a 39.3 per cent increase from the 275 attached properties sold in September 2008. The benchmark price of an attached unit increased 5.2 per cent between September 2009 and 2010 to $490,385.

Bob Dominick a long time Surrey resident and President and CEO of Lightyear Digital Theatre is said to have acquired the legendary Charles Aidikoff Screening Room - @ 150 Rodeo Dr. in the heart of Beverly Hills.

Lightyear recently contributed $50,000 to a theater at SFU Surrey

A recent demonstration at SFU by Lightyear Digital showed how digitization of motion picture technology permits theaters to carry out enhanced and interactive educational programming.

Lightyear Digital Theatre is launching a roll out of unique high defination 3D digital theatres from Surrey, BC.

Compact Interactive Theatre (CIT), the business model adopted by Lightyear Digital (www.lightyeardigital.com) will blend live events, theater, screened media, and digital technology to open a whole new world of exceptional quality entertainment, education, information arts and culture.

BC improves  access to Foreign Immigration : The demand for highly skilled graduates is rising in the province of British Columbia with over 95,000 jobs openings anticipated by 2020. Highly skilled labor is vital for the province to keep up in the future needs. One way of meeting this deed is attracting international post secondary students into the work force .

A three -year Pilot project by the province of B.C. will enable graduates from B.C.  masters and PhD Programs. in natural , health, and applied science to apply for immigrant status before receiving or accepting a full time offer for employment eliminating the need to wait for a job offer. B.C. is well positioned to tap into this market as it has more foreign students per capita than any other province.

Other changes to this program known as PNP or Provincial Nominee Program, will expand opportunities to include foreign gradutates students with degrees or diplomas from an eligible institutions across Canada, extend the application deadline form one to two years and broaden the range of employment options that qualify candidates for resident status.

Employers will find these changes critical as this will give them opportunities to find new and talented employees.

Coquitlam Council approved a development Permit for the rezoning of 500 block of Clarke Road. This is in anticipation of the Evergreen Line. Bosa Properties and Safeway have been working to make this project a reality.

The Mixed use high density project will include Two High Rises , Six townhouses, Three retail units and Grocery store.        

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Pitt Meadows has banned everything. In it's bylaws it has banned massage parlors, strip joints, X-rated video stores, nuclear power plants, hydroponic retail outlets, used car lots, including giant advertising icons on top of buildings. Now they are all set to ban medical marijuana production for personal use, despite the fact production of cannabis for medicinal purposes is legal, when sanctioned by Health Canada.

However, Individuals holding proper permits from Heath Canada can grow marijuana for medical consumption. Patients can obtain a permit from Health Canada allowing them to possess marijuana to alleviate symptoms associated with cancer, multiple sclerosis, HIV/AIDS, severe arthritis and spinal cord injuries and disease. Health Canada also issues a separate permit required to grow the drug.

The bylaw is apparently not aimed at individuals who grew a few marijuana plants for personal medicinal use, rather it was aimed at third-party operations selling marijuana to patients, who did not grow their own.