Preparing Richmond residences for any imminent earthquake!

September 5th, 2014

Richmond bc apartments may face earthquake riskInterestingly Richmond’s soil boasts of two components sand and silt. Making it one of the richest locations on British Colombia’s cost. Richmond BC condos and the earthquake danger are not new and a lot of preparation has been made to avoid this type of catastrophe. Any new buildings must meet the set down BC building code standards to save both human and protect property from extensive damage. Is Richmond a tsunami prone area? No! Despite it being an island enough dikes are in place and consequently checked. When it is considered that this is an earthquake prone area a lot of fear is instilled in its citizens and visitors.

This need not be the case, Richmond apartment residents have been educated adequately from time to time on precautions to take in case of such eventualities. Richmond condominiums are particularly in imminent danger by it having only covered just one meter above the sea level. The incidences of earthquakes that have taken place are known not to have caused extensive damage to buildings but injuries through flying objects and broken glass to those in the vicinity. This is where earthquake insurance comes in protecting property and paying for medical charges to the affected. It is true that Richmond is vulnerable to two or three types of earthquakes each single year.

Mostly known to occur on the interface or earth’s crust plates and enough preparedness have to be put in place. The effects are sometimes too mild to be felt or can be massive enough to cause extensive damage. All new buildings must meet the 1955 edition Building Code especially for Richmond, where the area has been built as of the last 20 years. Building owners who are not sure whether their buildings meet such standards should check with this body. So apparently, this Richmond BC apartments scare and the earthquake danger have also been adequately taken care of by National Building Code of Canada (NBCC) in handling any imminent major quakes.

A leading agency firm in Richmond, has mentioned that the threat is not eminent for the apt which as not on a firm foundation like in Vancouver. However, many UBC engineers including the UBC Real Estate division is not as certain.

For more information on this you may contact us. However, due to this danger and risk we are encouraging our investors to seek insurance for such occurrences if they do arise. It is always best to keep any real estate safe, but particularly in this case as Richmond real estate is quite prone to this type of disaster. I would recommend if you are an investor to go for something like Vancouver condos as they are a safer bet: http://www.worldpropertylinks.com/vancouver-west-condos/.

One once of prevention is worth a dozen of cure. I myself have stayed away from being too close to Richmond’s edge along the banks of the river. Having bought quite a few commercial properties in Richmond I know full well where the areas that are best suited to not be prone to such flooding that may occur.

If you would like to be in touch for my expert investment techniques into Richmond houses, condos or commercial property please contact me at paulocoelho79@outlook.com.

Real estate market in Richmond BC Canada 2014

August 29th, 2014

richmond bc propertiesIn 2012 February the home sale in Richmond increased as compared to the previous month’s sale by 52% according to Richmond Real Estate City Division. The listed houses, condos and apartments for sale in February were 6% more than January 2012. The maximum increase in for sale listings was for condos. The increase in other types of homes was not too much and almost negligible The town homes, detached homes and condos in January 2014 were almost the same as in the previous months. With a large number of houses available to choose from the market in Richmond favors the buyers. How the Richmond market will do in 2014 depends much on the business that will be done in the next two months. Even though the house selling is not so fast but the sellers are not under pressure to cut the prices of houses drastically. Home sellers who were happy enough to sell the houses at reduced prices made good sales. The prices were at their peak about seven months ago, but now with so many choices with the buyers, homes can be owned at 5% to 7% less than the prices seven month earlier. However, the resale market for the condos will be a lot challenging for the home sellers with already reduced prices.

The new condos and houses are going to create a stiff competition to the resale condo markets according to this agency. The new house developments in Richmond are offering many incentives and offers to the buyers which makes resale even a tougher challenge. People will naturally prefer to buy home in new developments. Credit is also offered by Provincial authorities for the first time home buyers in Richmond. With this tax credit being introduced and already very low interest rates are surely going to benefit the home buyers. The Richmond real estate market in 2012 has something to offer both to the buyers and the sellers.