Spirit of the Sea Festival comes to White Rock this weekend

July 29, 2011

The popular Spirit of the Sea Festival comes to White Rock

The popular Spirit of the Sea Festival comes to White Rock

The Spirit of the Sea Festival is an annual weekend-long celebration in the seaside community of White Rock. A variety of events span more than 2 kilometers along the waterfront overlooking the silver beaches of Semiahmoo Bay. This is a family oriented celebration of the water, land and life of the Semiahmoo Peninsula. Driven by the dedication and spirit of community partners, donors and volunteers, the Festival has evolved into a world-class event.

This weekend’s Spirit of the Sea Festival offers a little of everything – in the way of music and other entertainment – with a strong local bias in the lineup assembled for the Main Stage (West Beach), the East Beach Stage and the Spirit Stage (Semiahmoo Park bandshell, courtesy of the Semiahmoo First Nation) and a variety of after-hours venues.

Entertainment kicks off with two evening gigs on Friday – The Myles Bigalow Trio featuring guitarist Jim Black (Deluxe Restaurant) and The Malarkeys (Slainte By The Pier).

Saturday and Sunday sees children’s entertainment running at the Spirit Stage for most of the day before musical acts take over.

The weekend has full free fun for the whole family, included a children’s carnival and parade, beach games, races, fireworks and continuous live entertainment for all.

For further information, please click on Spirit of the Sea Festival.

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White Rock beach given the all-clear

July 28, 2011

White Rock has some of the best swimming around

White Rock has some of the best swimming around

Health officials have given beautiful White Rock beach the all-clear for swimming again.

Rob Thompson, the city’s director of engineering and municipal operations confirmed Wednesday afternoon that two consecutive tests of Semiahmoo Bay have shown the water is safe.

The beach was closed Sunday after a rare occurence when some food waste overflowed into a storm-water system.

Thompson said the blockage buildup – which appeared to involve food waste and grease – occurred sometime within the last three weeks, after the main was last flushed.

Thompson said city staff will be visiting restaurants and following up with a letter regarding the need to use separators.

Coun. Lynne Sinclair said changes to rules and regulations about separators in restaurants should be explored.

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Fraser Valley housing market favours buyers

July 21, 2011

Fraser Valley home sales starting to favour buyers

Fraser Valley home sales starting to favour buyers

For three consecutive months, the percentage of properties sold in the Fraser Valley compared to those that were available for purchase has remained at 16 per cent, reflecting a balanced market starting to favour buyers.

Sukh Sidhu, president of the Board, explains, “When supply and demand remain as consistent as they have since April, it indicates a stable market.”

“However, it is important for both buyers and sellers to be aware that Fraser Valley’s market is highly localized. In general, 16 out of every 100 properties sold in June, but that’s referring to every property type in all six of our communities. Be sure to ask your REALTOR® for the percentage of properties selling specific to your home in your area.”

The Board received 2,762 new listings in June, a decrease of 10 per cent compared to May and a decrease of 12 per cent compared to the 3,153 new listings received in June 2010.

Sidhu adds, “Although the volume of new homes coming on stream saw a seasonal dip in June, selection remains very good in particular for Fraser Valley apartments. With interest rates remaining stable, there are some excellent opportunities for first-time buyers this summer.”

In June, the benchmark price for Fraser Valley detached homes was $528,060, an increase of 1.9 per cent compared to $518,355 in June 2010 and a decrease of 0.3 per cent compared to May.

The benchmark price of Fraser Valley townhomes in June was $327,457, a decrease of 0.2 per cent compared to $328,080 in June 2010 and up 0.8 per cent compared to May. The benchmark price of apartments was $249,537 in June, an increase of 1.3 per cent compared to the $246,351 price in June of last year and down 0.6 per cent compared to May.

To take advantage of this favourable market, check out South Surrey’s newest townhomes at Pier 16 to experience a new, affordable way of living.

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Bank of Canada keeps key interest rate at 1%

July 19, 2011

BoC keeps interest rates steady

BoC keeps interest rates steady

Making homebuying even more attractive, the Bank of Canada held its benchmark interest rate steady today, as widely expected, as the global economy remained fragile amid debt problems in Europe and the United States.

But the central bank hinted higher borrowing costs could be coming sooner than later if the domestic economy maintains steady growth.

The bank’s lending rate has been at a near-historic low of one per cent since last September in an effort to spur economic growth following the downturn.

“To the extent that the expansion continues and the current material excess supply in the economy is gradually absorbed, some of the considerable monetary policy stimulus currently in place will be withdrawn,” the Bank of Canada said in its interest rate statement. “Such reduction would need to be carefully considered.”

Avery Shenfeld, chief economist at CIBC World Markets, “may be nudging the market into pricing greater odds of at least a modest dose of interest rate hikes before year end.”

“It dropped the word ‘eventually’ in reference to the need for rate hikes ahead, and while saying some of the pressure on core inflation is ‘temporary,’ it also attributed some to ‘more persistent strength in the prices of some services’.”

The Bank of Canada on Tuesday also revised its economic growth outlook for 2011 to 2.8 per cent, down from the previous estimate of 2.9 per cent. Left unchanged were growth forecasts for 2012, at 2.6 per cent, and 2013, at 2.1 per cent.

“Of course, the troubles abroad and challenges to net exports kept the bank from hiking as early as today, and it is still assuming a resolution of the eurozone debt issues,” Shenfeld said. “But signs of better growth in the U.S. and Canada in the second half would clearly be enough to tip the bank into hiking, and we should have enough of that evidence on hand by October.”

Still, some economists have pushed back the possibility of a rate hike until early next year due to continuing uncertainty outside Canada’s borders.

“Weighing-in on the stand-pat side, the U.S. economic soft patch is dragging on, as we count down to potential ‘credit events’ on both sides of the Atlantic,” said BMO Capital Markets economist Michael Gregory.

“Pulling on the tighten-soon side, Canadian domestic demand performance in Q2 might not be as bad as initially posited, owing to a surprising surge in home construction, while the output gap could be smaller, and closing quicker, if the latest Business Outlook Survey is any guide.”

The Bank of Canada is expected to provide more details on its economic outlook on Wednesday when its releases its Monetary Policy Report.

Source: The Financial Post

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Tour de White Rock road race starts today

July 15, 2011

Tour de White Rock road race

Tour de White Rock road race

Today sees the start of the Tour de White Rock Road Race. This is one of the most prestigious and historic races in North America and comprises a gruelling 130 km test of endurance and attrition. Semiahmoo Bay and Mount Baker provide picturesque backdrops as spectators line the waterfront or watch the action from restaurants along Marine Drive.

The hilly main streets of White Rock become transformed into a challenging race course for 150 elite cyclists, competing for $15,000 in prize money. The races conclude B.C. Superweek – Canada’s biggest week in cycling.

For more information, please click on this link Tour de White Rock.

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Canada’s new build homes and offices on the increase

July 14, 2011

Number of Canadian building permits rise

Number of Canadian building permits rise

Demonstrating the strength in the real estate economy, the value of building permits in Canada soared back in May after plunging the previous month, with particular emphasis on non-residential activity.

Statistics Canada said that permits jumped 20.9 per cent during the month to $6.4 billion, following a revised 21.5 per cent drop in April.

The federal agency said that higher construction intentions, particularly for commercial buildings and multi-family dwellings, were behind the advance.

Economists had expected permits to rise by three per cent in May.

“While the increase, the largest in over two years, came in well above expectations, it simply reverses the preceding month’s surprisingly sharp decline,” said Peter Buchanan, at CIBC World Markets.

“The residential numbers are consistent with our call for a deceleration in that sector, while the strong rise in non-residential applications points to continued strength in business investment, one of the economy’s main drivers in Q1.”

Non-residential permits rose by 50.9 per cent to $2.7 billion, following two straight monthly declines.

The residential sector increased 5.3 per cent to $3.7 billion, after a 12.1 per cent drop in April. Multi-family unit intentions accounted for much of the gain.

Source: Postmedia News

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New townhomes for sale in Surrey at Pier 16

July 12, 2011

Surrey townhomes for sale at Pier 16

Surrey townhomes for sale at Pier 16

Situated just minutes from the vibrant urban amenities of Morgan Heights, and close to the seaside town of White Rock, Pier 16 offers 43 sunny, coastal-inspired townhomes.  Here you’ll discouver an oasis of contemporary design quality finishings, and attention to detail.

The 3-and 4-bedroom homes have colour palettes that echoe the seaside with details like weathered grey plank flooring and white shaker cabinets. Many feature a full bathroom on the ground level [perfect for guests], a home office, play room or teen hideaway. Plus, the main living area is designed to function with galley kitchens that allow you to chat as you cook, and nooks that offer space for kids to relax and (hopefully!) focus on their homework.

Deluxe ensuites have marble countertops, his – and – hers sinks and oversized showers. Take a hot bath in that extra-deep soaker tub… a great escape from the stresses of life.

Finally Pier 16 offers spaces meant for living, which means thoughtful places to put all the things we cannot live without. Extra linen closets, a kitchen pantry, garage niches and art nooks are just some of the many standard features that set this community apart.

For further information, please contact 604 542 1616 or stop by the Pier 16 Presentation Centre at 16228 16th Ave, South Surrey.

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