Newsletter



HERITAGE HOME NEWS

FALL 2014

Whatís Lurking in your Attic?

Lanzos Residence  

In the 1970s and 1980s, there was an insulation product used in many homes across North America called vermiculite insulation. It has exceptional fire-resistant properties and is a great insulator, but it also may contain asbestos.

 

If you are planning to sell your home and have vermiculite insulation in your attic, it is recommended that you have it tested for the presence of asbestos. If the vermiculite contains asbestos, buyers will insist that it is removed before buying your home. The cost of removal depends on the size of your attic but may approach $10,000 or more to remove and replace the insulation, and can take several weeks. If removal is required, it should be completed before listing your home for sale.

It is important to note that Health Canada states that vermiculite insulation with asbestos is not a health risk if it is sealed behind walls and floors or isolated in the attic. Health risks may exist if the insulation is disturbed during maintenance or renovation, but asbestos is most harmful if breathed at high levels and over sustained periods of time.

Please contact us for more information on the testing and removal of vermiculite insulation.

Heritage Spotlight

Creole Cottage North Vancouver Land and Improvement Co. Show Home
214 West 6th St. 1907.
Register Ranking: A

This striking residence was built by the North Vancouver Land & Improvement Company as one of the show homes for its Ottawa Gardens development.

It displays an unusual influence of the Italian Renaissance Revival style, rarely used in the Lower Mainland, and is distinguished by the use of a prominent three-storey tower at the entry, exaggerated proportions and multiple low-pitched rooflines. Its unusual architecture was employed to attract attention to the new neighbourhood.

By 1913, this residence was used as the Lynn College for Boys, a boarding and day school, which provided Ďspecial attention to morals, conduct and discipline.í

This property is currently under redevelopment with plans for a duplex at the rear of the property and the restoration of the heritage house.

North Vancouver Market Update

Houses

In June, July and August, there were a total of 314 houses sold compared to 292 sold over the same period in 2013.

The benchmark price this summer was $1,013,366.

The benchmark house price is up 6.9% from last summer’s benchmark of $948,200.

 

Apartments

In June, July and August, there were a total of 182 apartments sold compared to 172 in 2012.

The benchmark price this summer was $353,800.

This summerís benchmark apartment price is similar to last summerís benchmark price of $352,600.

Heritage

There were two heritage home sales in May in Edgemont and Lower Lonsdale, one in August in Lynn Valley and one in October on Indian River Drive.

For information on recent heritage sales or to inquire about the value of your home, please contact us.

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