Will Metro Vancouver?s record property prices continue to soar into the stratosphere, or are they headed for a crash?

Derrick Penner
The Vancouver Sun

If recent history is a guide, homeowners and buyers can expect — within the next year — some sort of rebalancing in the market with respect to price increases, according to an analysis by the Real Estate Association of B.C.

While not forecasting any kind of crash or popping of a bubble, association economists tracked the rate at which prices have risen and fallen since the last big crash in 1981 and found that each steep run-up has been followed by a fallback to more of a moderate long-term average.

“This is not a forecast,” BCREA chief economist Cameron Muir stressed. “This is what has happened historically, and it gives you an idea (what might happen) from previous cycles.”

And over seven cycles since 1981, Muir and his team counted 46 months where the year-over-year increase in prices was steeper than 20 per cent.

The rebalance: Sharply rising interest rates and a subsequent Canadian recession, saw prices fall by October of 1990.

The run-up: Home prices rose steadily in 1994 to top out at a 23 per cent year-over-year rate of increase in February, 1995, during a boom period marked by strong immigration from Hong Kong ahead of its handover to China.

The rebalance: Prices started to decline within 12 months as the economy soured, the spectre of the developing leaky condo crisis loomed, and an exodus of population migration out of the province squelched housing demand.

The run-up: The economic rebound saw prices pick up speed in the early 2000s after a long period in the doldrums, with price increases topping 20 per cent, year-over-year, for six months in 2006.

The rebalance: Prices kept rising until the global financial crisis early in 2008, then fell until early 2009 during the ensuing recession.

The run-up: In the post-recession recovery, Metro Vancouver homebuyers sparked a steep increase in prices for increasingly scarce single-family homes, which topped 20 per cent. (Condominium prices, however, remained stagnant.)

The rebalance: The federal government imposed stricter rules to qualify for mortgage insurance, including reducing the maximum mortgage amortization period to 30 years (then to 25 years in 2012) from 40, which curbed demand and saw prices fall until early 2012.

The run-up: A frenzied Metro Vancouver housing market saw prices shoot up into the 20 per cent range at the start of 2016, with prices for single-family homes in particular approaching 30 per cent in some communities.

The rebalance: With buyers squeezed, Muir said the year-over-year pace of price increases eased back to 16.5 per cent by May.

“We’re looking at pricing data historically and modelling it in the sense of what (happened) in the past,” Muir said. “It’s illustrative of what we can maybe expect going forward, all things being equal.”

© 2016 Postmedia Network Inc.

Mayor Gregor Robertson announces some form of additional property tax will be implemented on completely empty properties, whether or not Victoria is on board

Joannah Connolly
REW

Homes left vacant 12 months a year in Vancouver will soon be subject to a new form of property tax – whether or not the BC government backs the idea, Vancouver Mayor Gregor Robertson announced June 22.

A report being put forward to Council next week will recommend moving forward with an empty homes tax in partnership with the BC government, but the City is prepared to take action on its own in absence of provincial response, according to a statement on the Mayor’s website.

The statement did not specify how much the tax would be, as it first needs to iron out what kind of a tax will be implemented – and that will depend on the provincial government.

“Vancouver housing is first and foremost for homes, not a commodity to make money with,” Robertson said in the statement. “We need a tax on empty homes to encourage the best use of all our housing, and help boost our rental supply at a time when there’s almost no vacancy and a real crunch on affordability. The BC government recognizes the need for more housing supply to address affordability and they can enable the best tool to help turn thousands of empty homes into rental homes. I’ve asked for the BC government’s urgent support to tax empty homes but the City needs to take action with or without other levels of government.”

The report suggests two possible options, described as follows:

1. The first, and preferred option, is for the BC government to create and administer a new “residential vacant” property class through BC Assessment. The City would work through the Assessment Roll to levy appropriate property taxes on empty and under-occupied investment properties, using data already collected on primary residence and rental income through the Homeowner Grant and income tax collection processes. The “residential vacant” classification would be administered annually and would likely involve a self-declaration and audit/complaint response process. 
2. The second option is for the City to establish and charge a new business tax on empty and under-occupied homes held as investment properties and not rented to local residents, with tax proceeds going toward funding other affordable housing initiatives.

The statement added that, as the next steps, staff recommend that:

• Mayor Robertson, on behalf of Council, write to the Premier to request the Province confirm its support to create and administer a new “residential vacant” property class so the City (and other municipalities) have the option to set a different property tax rate for empty homes; and
• If the City does not receive a written response from the Province indicating its commitment to taking action on empty homes in partnership by August 1 2016, that Council direct staff to report back on next steps to implement a City-administered empty homes tax.

The announcement follows the publication of a City-commissioned report in March. which found that some 10,800 homes were vacant within Vancouver’s city limits. The report said that, at less than five per cent of total housing stock, this was an average vacancy rate for a city of Vancouver’s size.

However, rental vacancies are extremely tight, currently standing at 0.6 per cent in the City. Robertson told reporters outside City Hall June 22 that even if a third of those 10,800 homes could be pushed back into the rental pool because of the new tax, it would ease the rental availability crisis considerably.

Robertson added, “We’ll continue to pursue all possible options at City Hall to create opportunities for people struggling to find homes in Vancouver.”

© 2016 Real Estate Weekly

Mayor Gregor Robertson announces some form of additional property tax will be implemented on completely empty properties, whether or not Victoria is on board

Joannah Connolly
REW

Homes left vacant 12 months a year in Vancouver will soon be subject to a new form of property tax – whether or not the BC government backs the idea, Vancouver Mayor Gregor Robertson announced June 22.

A report being put forward to Council next week will recommend moving forward with an empty homes tax in partnership with the BC government, but the City is prepared to take action on its own in absence of provincial response, according to a statement on the Mayor’s website.

The statement did not specify how much the tax would be, as it first needs to iron out what kind of a tax will be implemented – and that will depend on the provincial government.

“Vancouver housing is first and foremost for homes, not a commodity to make money with,” Robertson said in the statement. “We need a tax on empty homes to encourage the best use of all our housing, and help boost our rental supply at a time when there’s almost no vacancy and a real crunch on affordability. The BC government recognizes the need for more housing supply to address affordability and they can enable the best tool to help turn thousands of empty homes into rental homes. I’ve asked for the BC government’s urgent support to tax empty homes but the City needs to take action with or without other levels of government.”

The report suggests two possible options, described as follows:

1. The first, and preferred option, is for the BC government to create and administer a new “residential vacant” property class through BC Assessment. The City would work through the Assessment Roll to levy appropriate property taxes on empty and under-occupied investment properties, using data already collected on primary residence and rental income through the Homeowner Grant and income tax collection processes. The “residential vacant” classification would be administered annually and would likely involve a self-declaration and audit/complaint response process. 
2. The second option is for the City to establish and charge a new business tax on empty and under-occupied homes held as investment properties and not rented to local residents, with tax proceeds going toward funding other affordable housing initiatives.

The statement added that, as the next steps, staff recommend that:

• Mayor Robertson, on behalf of Council, write to the Premier to request the Province confirm its support to create and administer a new “residential vacant” property class so the City (and other municipalities) have the option to set a different property tax rate for empty homes; and
• If the City does not receive a written response from the Province indicating its commitment to taking action on empty homes in partnership by August 1 2016, that Council direct staff to report back on next steps to implement a City-administered empty homes tax.

The announcement follows the publication of a City-commissioned report in March. which found that some 10,800 homes were vacant within Vancouver’s city limits. The report said that, at less than five per cent of total housing stock, this was an average vacancy rate for a city of Vancouver’s size.

However, rental vacancies are extremely tight, currently standing at 0.6 per cent in the City. Robertson told reporters outside City Hall June 22 that even if a third of those 10,800 homes could be pushed back into the rental pool because of the new tax, it would ease the rental availability crisis considerably.

Robertson added, “We’ll continue to pursue all possible options at City Hall to create opportunities for people struggling to find homes in Vancouver.”

© 2016 Real Estate Weekly

Gentle tourist town set to become major destination with unprecedented luxury condo and hotel development that could be a game-changer for entire Sunshine Coast

Joannah Connolly
REW

The gentle, historic, tourist town of Gibsons on the Sunshine Coast, popular with summer day-trippers and the retirement set, is about to undergo massive changes, the like of which locals have never seen before.

A new resort hotel, residential and marina development in the heart of the town is set to be a game-changer – not just for Gibsons but potentially for the whole of the Sunshine Coast.

The George in Gibsons, named after the town’s founding father George Gibson, will comprise a 116-room five-star hotel, expansive conference facilities, a massive “destination” health spa, a new boardwalk with new restaurants, a new marina and a 40-unit luxury waterfront condo building. It is expected to be complete in early 2019.

Big Ambitions

The development, which is hoping to achieve LEED Gold construction standards, is intended to become a major economic catalyst for the town. It aims to diversify and stabilize the economy by adding around 150 full-time jobs upon completion, more than 245 man-years of construction employment, $1 million-plus in annual municipal and regional tax revenues, and bring to the town 32,000 visitors each year, which are expected to contribute $7.9 million in tourism spending.

Aside from the new resort itself, the development is expected to create vastly increased activity for other Sunshine Coast accommodations, shops and restaurants, as users of the exceptional spa and conference facilities choose to stay and eat elsewhere. The developer is also working on setting up partnerships with educational organizations such as Vancouver Community College, so that its hospitality students can work and learn their trade at the George.

Klaus Fuerniss, the Gibsons developer whose background is in the hospitality industry, including stints on the Vancouver Convention Centre and Expo ’86, and who also owns 10 Tim Horton’s restaurants and Gibsons Marina, is the seemingly tireless man behind the project.

Fuerniss told reporters on a recent media tour, “I’ve lived in Gibsons for 21 years and I have seen people make money in the summer and lose it in the winter. So I felt that the town needed something to help it on a year-round basis – and if there’s something that I know, it’s the hotel and convention business.”

Fuerniss purchased the large swathe of underdeveloped waterfront land in the heart of Gibsons, and its marina, many years ago. After more than a decade of public debate and two-and-a-half years in the planning process, the council finally voted to amend current zoning to allow the development to go ahead.

The George in Gibsons will comprise the large hotel, spa and conference building on one side of a public walkway and central plaza, the smaller private residences on the other side, and the new “seawalk” with restaurants and marina at the foot of the complex.

The Private Residences

The 40 high-end condominium units (see photo gallery above), in an Omicron-designed building that matches the hotel’s typical West Coast architectural style, will range from 600 square feet to 2,500 square feet, with some of the most desirable units boating two floors and a private elevator.

Feurniss told REW.ca, “Like the rest of the development, the condominiums are designed for comfort, with high-end finishings and interiors by False Creek Designs. They are intended for people who want to live here year-round. Residents will be able to get 24-hour concierge service, room service and maid service from the hotel and have a club membership to use the spa and conference facilities. It’s a lifestyle development that allows residents to take advantage of the location, the seawalk, the car shares and bike shares, the health and wellness aspects.”

Diana Robertson, marketing manager at Placemaker Marketing, which is marketing the condo units, told REW.ca, “Sales aren’t open yet, but the price point for the two-bedroom units, on the waterfront and around 900 to 1,000 square feet, will be around $699,000. There will be a few smaller one-bedroom units, around 600 to 700 square feet, but they haven’t been priced yet.”

She added, “We expect a lot of the buyers to come from the North Shore, lots of downsizers, probably in the 50- to 70-year-old range. People who want a two-and-a-half-bedroom suite, where they can stay here six months of the year, probably bought another property down south with the proceeds of their detached home sale… And some young professionals as well, and maybe some US buyers, with the low dollar. We’ve also seen some increasing interest from Asian buyers, although there is not a big Asian community in Gibsons.”

Facilities as a Destination

The five-star hotel on the other side of the plaza is what the development is really about, however. There will be four floors of 116 hotel rooms, most of which are 400 square feet and upwards in size, including some luxury suites.

The George will offer 14,000 square feet of state-of-the-art conference facilities intended to attract event planners and delegates from across the province – particularly from Vancouver.

And the pièce de resistance is the second floor of the sprawling hotel, the entirety of which will be taken up by an ultra-luxury, 21,000-square-foot health and wellness spa.

Feurniss said that he added the spa facilities to his vision because “health and wellness today is a tourist attraction.”

The spa is based largely on the European kur (“healing”) concept, which means there will be medical staff on site, healing pools and various different kinds of saunas to treat different needs, as well as swimming pools, exercise facilities, spa treatment rooms and so on.

Fuerniss said that the spa will be only the second of its kind in BC, with the only other comparable “destination” spa being Sparkling Hills in Vernon. He added, “Sparkling Hills, which is based on the same ‘kur’ concept, has been very successful – and that is a far-away location. Whereas the George in Gibsons will be very easily accessible from Vancouver.”

In addition, there will be a new restaurant on the waterfront, a more casual family restaurant along the new seawall, and a private dining room on the hotel’s conference level.

The new boardwalk will be attached to an expanded marina, which will become part of the existing Gibsons Marina. This will encourage boat owners to dock and stay at the resort, and – more importantly – allow for the George’s planned private charter boats to transport hotel, conference and spa guests directly to the front of the George from downtown Vancouver in 30 minutes.

Fuerniss said, “We will be offering packages of conference or spa stays, including hotel accommodation, use of the facilities and boat transport direct from downtown Vancouver.”

He is also expecting that BC companies will use the hotel for conferences and awards ceremonies both small and large, and that private guests will book the space for weddings. “We have one room that accommodates over 300 people for dinner, as well as a 120-seat chapel, and lots of outdoor space for events,” he said.

The developer said that, with these seemingly unrivalled facilities, he expects a flood of guests from around BC, especially Vancouver, throughout the year.

“My biggest fear about it all is that it will be too small,” added Fuerniss with a laugh.

© 2016 Real Estate Weekly

Ephraim Vecina
Mortgage Broker News

Sharp price drops are a distinct possibility in the event of a housing collapse similar to what the United States experienced nearly a decade ago, according to a recent analysis by Moody’s Investors Service.

In Barbara Shecter’s report for the Financial Post, Moody’s warned that the “systemic vulnerabilities” inherent in the Canadian mortgage system would induce a strong downward pressure on prices that would lead to nearly $12 billion in losses should the country plunge into a U.S.-style financial crisis.

Moody’s noted that the Canadian system’s level of exposure to risk stems from the fact that nearly nine-tenths of the country’s mortgage holders loan from banks or co-operatives. Complicating matters is that Canada’s six biggest banks currently hold around 75 per cent of outstanding mortgage debt.

While the ratings agency stated that these institutions will not suffer a “catastrophic” impact from such a downturn, house prices could decline by 25 per cent nationwide and fully 35 per cent in the hottest markets due to the resulting aftershocks on borrowers’ purchasing power.

“In the event of a housing downturn, [the] riskier loans could exacerbate price declines,” Moody’s said, adding that a vicious cycle of defaults and mass selling would feed into the rapid fall in prices.

“When those houses are sold in foreclosure, prices of nearby properties fall…. A close analogy would be a tinder box,” Moody’s assistant vice president Jason Mercer said.

Over the past few quarters, various observers have voiced their concerns over the Canadian housing market, saying that the sustained dynamism and growth mask the overvalued, overheated, and overburdened nature of the sector, especially in Vancouver and Toronto.

Copyright © 2016 Key Media Pty Ltd

Steve Randall
REP

A report from an economist at Capital Economics says that Canada is in a “very big” housing bubble fuelled by high prices and “risky” mortgages.

Author Paul Ashworth says that it will “end in tears” and that its Canadians that are to blame rather than foreign investors: “House prices have been boosted by domestic credit growth, fuelled by relaxed lending standards.”

He says that high levels of debt, exacerbated by low interest rates, has combined with banks increasing amortization periods on uninsured mortgages.  Copyright © 2016 Key Media Pty Ltd

Vancouver Island development offers harbourside living

? SIMON BRIAULT
The Vancouver Sun

Project: Heron View Villas

Project location: 6995 Nordin Road, Sooke

Project size: 91 townhomes, 3 bedrooms, 1,550 — 1,700 square feet, priced between $430,000 and $440,000

Developer: Silvercreek Development LP

Architect: Concept Design Ltd.

Interior designer: Adriana Wooton

Sales centre: On site at 6995 Nordin Road

Hours: noon — 4 p.m. every day except Wednesday

Telephone: 778-425-4130

Website: www.heronview.ca

Occupancy: Fall 2016

Retiring or moving out West is a well-established Canadian trend. But with prices in the Lower Mainland making that dream unaffordable for many, Silvercreek Development believes it’s on to a winner with its resort-style townhome complex in Sooke on Vancouver Island.

When fully built, Heron View Villas will be a development of 91 three-bedroom townhomes of between 1,550 and 1,700 square feet. The community sits on 10 acres of oceanfront property and the developers have had interest from Alberta, Saskatchewan and Ontario, as well as from the Lower Mainland and Vancouver Island.

“The biggest selling point here is the West Coast lifestyle that we’re offering,” said Silvercreek’s Bob Vaughan. “The complex is beautifully landscaped and we’re right on the water in the Sooke harbour. There’s a marina right out front. We have a pool, a gym, a hot tub, a sauna and an owners’ lounge, all with unobstructed ocean views. There are also tennis courts on site.”

Silvercreek Development is launching the fourth of 11 phases this summer.

Phase four consists of six 1,650-square-feet townhomes, with prices between $430,000 and $440,000. The homes will be move-in ready by November at the latest and all the amenities at Heron View Villas were completed with Phase 1.

Those amenities were a big part of the appeal for Dave Scott, who is recently retired and bought a townhome at Heron View Villas with his wife after they sold their house in Victoria.

“We were looking for something newer,” he said. “We had an oceanfront home, but it was built in 1975 and, although it was a very nice character home, it was going to need some work. When we came across Heron View, we decided it was exactly what we were looking for.”

“When I retired, we were really looking for a lifestyle shift,” Scott added. “We had a beautiful piece of property, but it required a fair deal of maintenance and by moving into Heron View, we’re now part of a strata and we have all of that stuff taken care of. Now we can just turn off the water, lock the door and go away for a couple of weeks without having to worry about the house.”

Scott explained that he and his wife both grew up in Victoria and are very familiar with the area. They wanted to stay close enough to town to be able to visit their grown-up children, who still live there.

“We were also looking for a slightly slower pace of life,” he said. “My wife was looking at various places between Sooke and Victoria and when she walked into Heron View, she knew immediately that this was exactly what we were looking for.”

“We’re making full use of the amenities on site,” Scott added. “I use the gym every day. We both play tennis and there’s tennis courts right there. I’ve just taken up kayaking and because we’re on Sooke harbour right by the water, it’s very easy for me to put a kayak in and go out for a paddle for an hour or two.”

Quite apart from the oceanfront location, the developers have taken care to make these homes appealing to downsizers who are used to the comforts of single-family living. The townhomes at Heron View Villas are larger than most. They feature West Coast craftsmaninspired architecture, natural gas barbecue outlets and double car garages. Kitchens come with European cabinets; quartz stone countertops and eating bars; double compartment stainless steel sinks; and deluxe appliance packages.

Main bathrooms feature soaker tubs and shower tile surrounds in select homes, while some ensuite bathrooms feature a one-piece Fiberglas combo tub and shower. There’s also ceramic tile flooring, designer toilets and wash basins, chrome faucets and full vanity mirrors.

But Vaughan is keen to stress that the biggest draw for buyers is the setting and the lifestyle that Heron View Villas offers.

“You’re within minutes of some of the best fishing in the world and 20 minutes away you’ll find a great spot for surfing,” he said. “The scenery is incredible. Drive 45 minutes and you’ll find yourself in a thousand-year-old forest in the Carmanah Valley. Then you can go 40 minutes the other way and you’re in downtown Victoria. It’s just an amazing place to be and I think that’s what’s so appealing for people coming to live here.”

Dave Scott agrees that the setting of Heron View Villas was one of the key things that sealed the deal for him and his wife.

“The quality of the construction is very impressive as well,” Scott added.

“When you live in a townhome complex, you sometimes fear that you’d hear your neighbours, but the construction is such that we’ve yet to hear anybody on either side of us.”

© Copyright (c) The Vancouver Sun

Intracorp opting to slot its townhomes into an ?infill? environment with existing residences

CLAUDIA KWAN
The Vancouver Sun

The Intracorp Townhome Collection

Project location: 218 – 282 W. 62nd Ave.; 7430 – 7488 Granville St; Granville St & W. 57th Ave., Vancouver

Residence size: Two- and three bedroom townhomes, 1,617 – 2,650 sq. ft

Prices: from $1.49 million

Developer: Intracorp

Architect: 218 – 282 W. 62nd: EKISTICS; 7430 – 7488 Granville: Shift Architecture Inc.

Interior design: Trepp Design

Sales centre: 266 W. 62nd Ave, Vancouver

Hours: By appointment

Telephone: 604-891-1288

Website: www.intracorptownhomes.ca

Sales began: fall 2015

Occupancy: Spring 2018 and beyond

Call it an experiment, if you will, but it’s one that Intracorp says is going well. The company is currently engaged in building small townhouse developments in southwest Vancouver, roughly between Granville Street and just east of Cambie Street, and south of West 57th Avenue.

Unlike some master-planned communities, where a developer has a large parcel of mostly untouched land — with a fair bit of leeway in terms of planning where homes and neighbourhood amenities will be located, Intracorp is working with an ‘infill’ environment.

Its team is assembling small parcels in areas with existing homes and ensuring they will slot in seamlessly within their existing neighbourhoods.

“For the most part, our townhomes have been incredibly well received,” explains Barrett Sprowson, director of sales for Intracorp.

“In almost every case, the interest is coming from people who are already living in the area, have family in the neighbourhood, or grew up here and are looking for an opportunity to come back.

“We’ve actually already seen a very interesting aspect of generational buying, where one family bought a townhouse in our West 62nd development, and the parents-in-law were so intrigued, they picked up a nice corner unit in the same project.”

Two of the families from whom Intracorp purchased the original properties have also said they are strongly interested in buying in one of the new developments. Sales began for 218 – 282 W. 62nd in fall of 2015, and that project is now sold out. Intracorp says it is pleasantly surprised by the appetite it is seeing for luxury townhouses in the region.

Technically speaking, the Intracorp Townhome Collection began with Coquitlam’s The Black + Whites on Foster. However, the current push in Vancouver begins with the W. 62nd project, and extends to 26 homes at 7430 – 7488 Granville, (which the company refers to as Granville and 59th), and 14 townhomes at Granville and 57th. There are already plans in the works for another townhouse complex to come in 2017, but Intracorp isn’t ready to reveal all the details yet.

An important piece of the puzzle here, says Sprowson, is that current and prospective purchasers don’t see the townhomes as a compromise or lesser housing choice than single-family homes.

“The move-up buyers have a condo in another part of town, and maybe they need a little more space; with a little help from their parents, they’re getting a chance to live in their old neighbourhood again without taking on the cost of a whole house,” he details. “The downsizers get to stay in their neighbourhood, and they don’t have to mow a lawn or do house maintenance any longer.”

That having been said, Intracorp wanted to ensure that some of the best aspects of single-family home-style living were retained in the townhomes. Residents can walk up to their own street level front entryways, with landscaping delineating private spaces. When returning home from a driving trip, they can pull up into private parking spaces nestled underground, under the main floor and patio spaces of their homes. Then they can unlock doors that lead directly into their homes.

The lowest floor includes a cleverly designed laundry room with full-sized washer and dryer, storage space for linens and detergent, a laundry sink, and a folding counter – the equal to what you might see in a house. Storage space is also included on this level; in some homes, it would be large enough to serve as a small home gym, library, or even guest accommodations in a pinch, but Sprowson says most people have said they think they will use it as originally intended.

On the main floor, there is some variance between floor plans in terms of where a kitchen island is placed and its overall length, but all of the homes share full ninefoot-high ceilings here, and kitchens made to entertain. Guests can mingle easily before heading out to the patio, or ducking in quickly to the powder room conveniently located on this floor.

There are two bedrooms on the third floor, separated by a bathroom. One of the bedrooms can access the bathroom as an ensuite, by walking through a short hallway lined on either side by single closets, while the other bedroom has one double closet and accesses the bathroom through the main hallway. In most townhouse complexes, this is where the homes might end.

However, with ample space to play with, the master bedroom suite gets to take full advantage of a fourth floor, with a luxurious walkin closet, and an ensuite bathroom with soaker tub, standalone shower, and double sink vanity. There is also a rooftop deck for morning cups of coffee, quiet moments of contemplation, or one last glass of wine before turning in for the night.

The materials used throughout are as sophisticated as you might expect for a higher-end buyer like this: gloss or wood veneer cabinetry, engineered stone or marble countertops, stainless steel or paneled appliances, and engineered hardwood.

At Granville and 59th, Intracorp went a step beyond by laying the foundation for the creation of smart homes.

It teamed up with local company La Scala to create five zones in the homes for automated adjustments of lighting and temperature controls; pre-wiring is also available for motorized blinds.

“At these price points, we have the ability to give our consumers more, but I also think there’s the expectation that we are upping the ante and offering a little more too,” says Sprowson.

© Copyright (c) The Vancouver Sun