Home sellers appear to have fled the market as if by collective instinct.

This comes in the face of less intense demand and fewer buyers willing to go into bidding wars and offer over-asking prices.

Sellers are stepping back to await more auspicious times to list their properties.

“Where have all the sellers gone?” Dexter Realty asks.

The Vancouver realty company used the same question to headline its mid-month report, which it released Friday (July 16).

“With this trend likely to continue, we could see total active listings drop below 10,000 to start September for only the second time in the last 25 years,” states the report prepared by Kevin Skipworth.

Skipworth is a partner, managing broker and chief economist with Dexter Realty.

The report noted that from July 1 to July 15, realtors with the Real Estate Board of Greater Vancouver (REBGV) sold 1,692 properties.

Meanwhile, only 2,491 new listings of homes for sale came on the market during the same period.

“That number of new listings is a stark contrast from where we were at the mid-point of June,” Skipworth wrote.

The realty executive noted that as of June 15, there were 2,028 properties sold and 3,405 new listings.

“So, while sales are only down 17% compared to the mid-point of last month, new listings are down 27% leading to a decrease in the number of active listings in the market,” Skipworth noted.

Also, in the mid-point of May 2021, 2,183 properties were sold and 3,758 new listings came on the market.

Total active listings as of July 15 are at 10,958 compared to 12,458 on July 15, 2020.

Also, the report noted that there were 11,659 of total active listings at mid-month in June 2021.

Real-estate associations have also flagged the drop in home listings.

In a July 12, 2021 report, the B.C. Real Estate Association stated that total active residential listings were down 23.4 percent year-over-year in June.

The BCREA report by chief economist Brendon Ogmundson also noted that listings have “continued to fall on a monthly seasonally adjusted basis”.

Meanwhile, the REBGV reported on July 5 that there were 5,849 detached, attached, and apartment properties newly listed for sale in June 2021.

The board said that the number of new listings represents a 17.9 percent decrease compared to May 2021 when 7,125 homes were listed.

Also, the total number of homes listed for sale was 10,839, a 5.1 percent decrease compared to June 2020 (11,424) and a 1.2 percent decrease compared to May 2021 (10,970).

Also on July 5, the Fraser Valley Real Estate Board (FVREB) reported that it received 3,108 new listings in the month of June.

The new listings represent a 10 percent decline compared to last year, and a decrease of 21 percent compared to May 2021.

The FVREB noted that June 2021 ended with total active inventory of 5,474, a seven percent decrease compared to May, and 22.5 percent less than June 2020.

Going to the Dexter Realty report, Skipworth wrote that while sales have declined again in July, the “bigger decline is in the number of new listing coming on the market”.

“This is depleting an already low active listing count in Metro Vancouver and keeping competition amongst buyers going,” the report noted.

Moreover, there are “still buyers looking to take advantage of continued low interest rates”.

“All things considering, there is still strong activity in the real estate market but that could be hampered by the lack of listings as we move through the next month and a half,” the report stated.

(This story is sponsored by Coast Capital Savings.)

Martha Batke found Take a Hike at a pivotal moment in her life. Struggling with the format of the mainstream school system, Martha was skipping classes and close to dropping out of Kitsilano Secondary in her Grade 10 year. As a result, she fell through the cracks of the mainstream school system and began looking for alternative options.

Her search led her to a life-changing opportunity to step outside of her comfort zone in a program—Take a Hike—that uses the outdoors, adventure, and mental health and emotional well-being support to engage vulnerable youth in school. Despite her apprehension and self-proclaimed lack of athletic ability, Martha took a leap of faith.

Since 2000, Take a Hike has been leading the way in alternative high school education models—combining intensive and continual clinical counselling, adventure-based learning, outdoor experiences, and a tight-knit community to support British Columbia’s vulnerable youth. Partnering with five public school districts across the province, the program empowers youths with the skills and resilience they need to graduate high school, build healthy relationships, and navigate their own path to success. The program has transformed the lives of hundreds of youth in B.C. like Martha, along with their families, resulting in a 97 percent graduation rate among its 690+ youth and alumni—14 percent higher than the graduation rate for mainstream public education in 2019.

“Take a Hike helps vulnerable youth who are scared, angry, hurt, and have fallen through the cracks of the system. They don’t trust anybody, they don’t feel safe. Take a Hike embraces them, provides them with clothes and food, and builds them up through outdoor adventures and trust exercises,” Martha shares.

At the heart of Take a Hike’s success is a unique program structure. Every aspect of its model is built on a foundation of safe and caring relationships, inclusive environments, tailored strategies, and high expectations for student success. It’s through this model that Martha found herself. Thanks to counsellors and teachers who continually go above and beyond, Martha’s outlook on life and on the world changed dramatically.

Before joining the program, Martha had never left the Vancouver city limits. Through Take a Hike, Martha was able to experience rowing in Deep Cove, climbing the Grouse Grind, mountaineering in Pemberton, and much more. It provided her with access to a completely different world, just an hour or two away from home.

Take a Hike also helped her to build a strong set of foundational core values. It taught her strength and resilience in the face of adversity; how to develop meaningful, trusting connections and relationships with her peers and teachers; and discipline in her pursuit of success. “You wouldn’t recognize me after the two years that I was there. I went from wanting to fade into the walls to avoid people to a very outgoing, confident young woman,” says Martha.

Now, Martha is living in the Kootenays, a mother to three children, and has been running a farm on her property for the last five years. In addition to valuable life skills, the program gave Martha a deep appreciation for nature that she has carried with her through to adulthood. Because of her experience with Take a Hike, Martha has made it a priority to connect with her community through activism and volunteering, working with local food security projects, and community halls.

Take a Hike has continued to grow, building its services in communities across British Columbia, and offering long-term programming with the support of donors and partners like Coast Capital, to reach and empower students across the province. Martha also hopes to give back to the foundation directly by donating and volunteering her time at Take a Hike’s West Kootenay location so she can help to positively impact youth to achieve their full potential.

As her children approach school age, Martha wishes programming like Take a Hike was a standard option as she firmly believes students from every walk of life would benefit from it. “Take a Hike is what school should be: it’s a healthy, accountable, respectful, rewarding interaction with the world.”

What’s a good deal in today’s market?

Vancouver realtor David Hutchinson asks this question as many probably see headlines proclaiming the five best deals or top 10 cheapest listings.

The Sutton Group-West Coast Realty agent notes that often, there is a catch, hence the need to look at the details.

“What constitutes a good deal? Certainly price, but price isn't everything,” Hutchinson told the Straight.

Citing a hypothetical example, the realtor explained that if one gets a $380,000 condo unit that is going to cost another $70,000 in maintenance and repairs over the next few years, that’s not a good deal compared to a $420,000 property that's in better condition.

“What’s a good deal?” Hutchinson asked. “It all goes into doing your due diligence, and finding the right fit for you and your budget, and how much you'd like to take on.”

Now, Vancouver may be one of the most expensive cities to buy real estate, but it doesn’t mean that there no cheaper options.

One is leasehold properties, and Hutchinson stressed that this can work out if the buyer is comfortable with the terms of leasehold ownership.

To illustrate, the Vancouver realtor provides a long listing of leasehold properties currently on the market, and many of these are below $400,000.

The lowest priced property is at 1906 1251 Cardero Street in the West End neighbourhood of Vancouver.

The 443-square-foot condo has an asking price of $299,900.

The lease for the property has been prepaid until December 31, 2073.

A leasehold unit is different from a freehold property.

In freehold, a person owns the unit and the land.

Applied to a freehold condo, the individual owns the unit, and shares with others ownership of the common spaces and land on which the development was built.

It’s not the same in leasehold, wherein an individual owns the home but not the land.

The lease can either be pre-paid or not. In addition, the development can either be strata or managed by a company.

At the end of the lease, the landowner can purchase the building at fair market value, which means leaseholds get something back.

The value of a leasehold property generally goes down as the end of the lease approaches.

A listing provided by Hutchinson suggests that some purchase leasehold properties and rent it out.

That may make some sense because leasehold is generally cheaper than freehold, so these can be investment properties.

The owner of 108 1250 Burnaby Street is willing to part with the one-bedroom West End condo unit for $305,000.

The 430-square-foot property is currently tenanted. The renter pays $1,600 a month.

Another leasehold property that is under $400,000 is 307 1720 Barclay Street.

The lease has been prepaid to the 625-square-foot condo unit, which means the future owner does not have to worry about lease payments to the land owner.

The one-bedroom West End property has an asking price of $362,800.

Hutchinson noted that “Vancouver's best deals” is always an attention grabber.

“It all depends what you're looking for, and to be fully educated into what you're buying,” Hutchinson said. “That may actually be the deal for you, or you may have to keep looking. Either way, happy hunting.”

(This story is sponsored by CottonMouth Cannabis.)

In all honesty, it was cannabis that got us through the pandemic. While shows like The Queen’s Gambit and Schitt’s Creek helped pass time, smoking a fat blunt each day made life more enjoyable and less stressful.

Because of the health and safety regulations, many people had no choice but to become familiar with the online marijuana industry. But we quickly found out which virtual pot peddlers could be trusted and which ones should be avoided at all costs. Even though ordering cannabis from a website is convenient, you’re still unable to interact with the product or ask budtenders any questions.

If you prefer to rely on recommendations or advice from seasoned cannabis connoisseurs, it’s best to avoid shopping online. Thankfully, the world is reopening, which means that those who enjoy a little enlightenment can resume purchasing their pot in person.

However, if you wish to stay couchlocked, CottonMouth Cannabis will begin delivering products in August as the Province has revised its mandate. Simply log onto our website and order for local delivery and curbside pick up.

CottonMouth Smoke Shop opened its doors on April 20, 2005, in Vancouver’s West End and has been one of B.C.'s most trusted shops since. Customers are offered a friendly and unique one-stop-shop experience unlike any other cannabis store in B.C. 

CottonMouth’s knowledgeable team provides other self-proclaimed pot purveyors with education through tutorials, blogs, videos, and free workshops. But don’t let the cannabis boutique’s professional reputation fool you, its customers say that they “come for the grass, stay for the sass”.

The inclusive pot shop nestled within Davie Village (1120 Davie Street) welcomes members from all communities and appreciates the ongoing support from the surrounding LGBTQIA2+ community.

To reefer enthusiasts, CottonMouth is the mecca of high-quality cannabis products. From pre-rolled joints, vape cartridges, edibles, and CBD gems to teas, THC soft gels, and oral spray, CottonMouth has it all. The shop also carries a wide selection of cannabis buds available in different strains for those who like to grind and roll their own joints.

After visiting CottonMouth, be sure to check out the team’s favourite munchie spot next door.

At CottonMouth, happy hour is two hours long and occurs every day from 1 to 3 p.m. Customers can snag discounts on everything in the store, even the OG Chemdawg Live Resin and the Peanut Butter Mac pre-rolled joints.

Every Thursday is CottonMouth’s Smokin’ Senior Day. If you’re 65 or older, it’s happy hour all day.

Next time you’re hanging out in Davie Village—or when your stash needs to be replenished—swing by Vancouver’s most beloved boutique cannabis store. The CottonMouth team is eager to welcome

customers back and can’t wait to provide recommendations on their favourite products. Every day at this shop is a bong-show, in all the best ways.

For more information or to browse some of the products available at CottonMouth Cannabis, visit www.cottonmouth.com/. Follow the boutique cannabis store on Instagram and Facebook for updates.

(This story is sponsored by the Electronic Recycling Association.) 

While the pandemic disrupted our lives and added a couple of inches to our waistlines, it also brought some positive changes. Apart from providing us with the time to conquer baking a sourdough loaf at home, it forced countless companies to implement remote work for employees. 

Though the vaccine rollout is well underway, many Canadians have no intention to return to their company’s office after the pandemic ends. Chatting with coworkers by the water cooler is fun but it doesn’t beat wearing sweatpants 24/7 and skipping the daily commute. Because of this, businesses have been looking to downsize their physical office space in order to save money. 

With downsizing comes a lot of displaced office electronics, which can be harmful to the environment if thrown into the landfill. The Electronic Recycling Association (ERA) is a Canadian nonprofit organization that offers simple solutions to businesses looking to get rid of any operational office equipment. 

The ERA seeks to promote sustainability and reduce the amount of e-waste in Canada through reusing and recycling. It’s also actively bridging the digital divide by providing the refurbished electronics to charities that work with less fortunate communities. 

Electronics that have already reached the end of their life cycle will be recycled in a way that is responsible and environmentally friendly. Any functional computers and laptops get donated to other nonprofit organizations like United Way, Boys & Girls Club, Big Brothers Big Sisters, Centre for Newcomers. 

“Due to the pandemic, computers are at a higher demand now than ever before with a greater number of people unable to afford one,” says Julia Armstrong, Marketing and Donations manager at the ERA. “Your preloved laptop that you no longer use can have a huge impact in the life of a student, senior, newcomer, or charitable organization.” 

Along with becoming part of the circular economy and helping others, the nonprofit ensures that any personal data is wiped from each device before it is recycled. The ERA’s data security guarantee saves busy IT staff plenty of time and effort. Taking it a step further, the ERA also prepares inventory reports of the retired assets, which includes hard-drive serial numbers, make, model, and tag numbers. 

Last year, the ERA initiated a scholarship program to give students the opportunity to win up to $10,000 by hosting an e-waste collection event. Students became involved in their community, gained organizational and marketing experience, and built up their résumés. The program was such a success that it will take place again this year.

The ERA serves small, medium, and large businesses, and has recycling depots in Vancouver, Calgary, Edmonton, Saskatoon, Winnipeg, Montreal, and Toronto. The nonprofit will also responsibly recycle or donate any unwanted personal electronics from people living within these communities. 

If your company is downsizing office spaces or looking to update its electronics, click here to book a pickup. For more information on the ERA and its charitable initiatives, visit www.electronicrecyclingassociation.ca/.

(This story is sponsored by Ghost Drops.)

Perhaps the most iconic legacy cannabis brand in Canada, Ghost Drops is stepping up and bringing its notorious underground quality and identity to the legal market.

The Toronto-based company will launch into the legal market with a national supply chain, delivering across the country its exclusive genetics catalogue from its network of partnerships with award-winning legacy geneticists and cultivators.

One step towards that goal is the hiring of global cannabis expert Gene Bernaudo as Ghost Drops’ Chief Executive Officer and interim Chief Operating Officer. The former president and global head of cannabis for Ignite, Gene Bernaudo brings to Ghost Drops a wealth of business experience establishing and growing cannabis brands in Canada.

“The decision to make the move was easy,” he says. “I was attracted to Ghost Drops because of its authenticity, culture, quality and reputation in the cannabis community. When I was asked to take on the role of CEO, I knew this would be a brand that I could get behind and help propel to the forefront of the legal market. The story is real, the team is the best I have ever worked with, and I truly look forward to being part of this legacy.”

Under Bernaudo, Ghost Drops looks to capitalize on the very essence of what the legal market has been trying to achieve since it came into existence in 2018: bringing legacy customers to the legal market on a large scale, while still delivering the quality and innovation those customers have come to expect. 

It’s about being the best possible version of the company in this new incarnation, Bernaudo explains: “We’ve taken it upon our shoulders to convert legacy market consumers into legal market consumers.”

It’s a pragmatic decision, he explains; the trick is learning from what worked in the company’s earlier incarnation and carrying it over to the other side.

“Ghost Drops has been operational in the legacy market for about six years,” Bernaudo says. “During this time period we were able to capture valuable data in relation to consumer habits, demand, tastes and spending patterns. Analysing this data is perhaps the most important piece of what we have developed, as it has contributed to our product offerings and overall consumer experience. Data has had a huge impact on how the brand has developed over the course of these years and has proven to be an asset as we enter the legal market.”

He’s also quick to reassure the company’s fanbase that while the market might be different, the brand isn’t going to change. 

“Our history is what made us,” he says. “With over 20,000 Instagram followers, 80,000 website subscribers and a 78% returning customer rate, it’s easy to see how Ghost Drops has developed a cult-like following and become one of the most loved and respected cannabis brands in Canada. We know what our consumers want from us. We’re not going to change what makes us the best.”

If anything, the brand might change the market.

“Our passion and expertise drive us to keep innovating, pushing boundaries and disrupting the status quo. We aren’t just in this game,” Bernaudo says, “we’re changing the way it’s played.

“Connoisseur consumers are willing and eager to invest in quality products they know and love. And by converting Ghost Drops’ database of loyal legacy customers, the legal market will become more informed, better educated and more diverse.” 

Follow Ghost Drops on Instagram @ghostdropscannabis or learn more at www.ghostdrops.com