Vancouver's Real Estate Market

[alphaspec1mens]

Originally Posted by lady_mapetite

actually.. Asians with old money don't flaunt wealth either.

my parents are millionaires, there isn't a hint that you can tell they're rich from outside appearance.

I agree, old people with $ are very low-key

[tastic]

Originally Posted by hud 91gt

Your saying renovated versus non renovated places go for less then their list price? You realize you can list your house at whatever list price you want. Confusing list with assessed value?

Nope, not confusing anything. I'm saying that when looking at what houses have been listing for and what the actual sale prices have been, it seems that the ones in this particular area at this particular time have been selling for approximately 1-2.5% below list value. Meaning that on average, buyers and sellers are accepting sale prices that are still a little below list. and within that group, the homes that have been well renovated or are newer with newer finishings etc have been selling for a little closer to the listed price than those that haven't.

Of course everyone can list their houses for what they want. But no one is even going to bother looking at anything that isn't reasonably priced for immediate comps.

All I'm pointing out, that it isn't a situation where, say, it is still a strong seller's market, where homes are scarce and most are getting bidding wars so they sell for a little above list. Nor is it a strong buyers market, where there are so many homes available that people can go in with bids 10% below asking and getting signed back at 8% or something like that.

[Mr.HappySilp]

Originally Posted by EvoFire

Can you give me any reason as to why? Its seriously up for consideration right now.

We have a friend of a friend, who bought into coop, and seems rather happy with it all. Though they might be in the honeymoon stage.

CHF Canada : What is a housing co-op?
What is a housing co-op?
Housing co‑operatives provide not-for-profit housing for their members.

The members do not own equity in their housing. If they move, their home is returned to the co‑op, to be offered to another individual or family who needs an affordable home.

Some co‑op households pay a reduced monthly rent (housing charge) geared to their income. Government funds cover the difference between this payment and the co‑op’s full charge. Other households pay the full monthly charge based on cost.

Because co‑ops charge their members only enough to cover costs, repairs, and reserves, they can offer housing that is much more affordable than average private sector rental costs.

Co‑op housing also offers security. Co‑ops are controlled by their members who have a vote in decisions about their housing. There is no outside landlord.

Each housing co‑operative is a legal association, incorporated as a co‑operative. Canada’s housing co‑ops are guided by international co‑operative principles, adapted for housing co‑op.

If you live in a non-profit housing co‑op you are:

A voting member who contributes to the governance of the co‑op
Part of a community where neighbours look out for one another
Living in housing that will stay affordable because it’s run on a non-profit basis and is never resold
Linked through the Canadian Co‑operative Association and the conseil canadien de la coopération with other Canadian co‑operatives active in banking, retail, farming, insurance, day care, health services and more
A member of a world-wide movement.

In a housing co‑op members have the right to:

Vote on the annual budget, which sets the monthly housing charges and affects the quality of your housing – for example, how much the co‑op will spend on property upkeep
Elect a board of directors made up of people who live in your co‑op
Run for the board of directors yourself
Receive audited financial statements that show how the co‑op spent your money
Pay only a limited portion of your income for your housing, if you meet eligibility rules
Live there for as long as you like, if you keep to the by-laws agreed on by the co‑op membership

For more information on what is required to create and run a co‑op, the laws and regulations governing co‑ops, and what sets co‑ops apart from other kinds of housing, see the Canada Mortgage and Housing Corporation’s “Guide to Co‑op Housing”.

So basically you are living with ppl who can't afford to pay rent at market levels. Mostly low income family, mental issue, health issue, or drug addicts.

[Gululu]

co op housing ruined olympic village. im still very upset with huge amounts of coop housing in false creek.

[Mr.HappySilp]

Originally Posted by Gululu

co op housing ruined olympic village. im still very upset with huge amounts of coop housing in false creek.

LOL that actually made the news. I was watching the news and it reported that from May 2013 up till July 2014 there were over 720 incidents where people have to call 911 in that area due to thief, crime, drug abuse etc etc.... that's almost twice a day! And that's just calls to the police I am sure there are many many incidents where it was not reported to the police.

What I don't understand how come those low income housing people gets to live in a 700k + apartment while I work hard for my money but can't even afford such places? If the gov wants to help these people build them affordable housing elsewhere that is much much cheaper such as mission, hope, detla etc etc.... why waste prime real estate location?

My company provide cable to one of those co op housing and is a nightmare. You have people who don't have their bills for months and when you cut them off them come to your office and threaten you (we have to call police twice due to this). Their unit is also very dangerous (fill with needles, not clean, bed bugs) Our techs have refuse to complete install or even go into the suite due to this and the people gets piss coz they don't bother to take 30mins to at least tidy their units. So what do we do? No more co op housing for us and we only do basic cable there now so none of our techs needs to deal with this.

A co-worker who also rents near a co op building and he have since moved due all the mess. There are fights at night, people screaming, doing drugs on the street, selling drugs. One time he even saw an attempted murder there. And he lived 2 streets form a co op housing. Image living with them.

[EvoFire]

Originally Posted by Mr.HappySilp

CHF Canada : What is a housing co-op?
What is a housing co-op?
Housing co‑operatives provide not-for-profit housing for their members.

The members do not own equity in their housing. If they move, their home is returned to the co‑op, to be offered to another individual or family who needs an affordable home.

Some co‑op households pay a reduced monthly rent (housing charge) geared to their income. Government funds cover the difference between this payment and the co‑op’s full charge. Other households pay the full monthly charge based on cost.

Because co‑ops charge their members only enough to cover costs, repairs, and reserves, they can offer housing that is much more affordable than average private sector rental costs.

Co‑op housing also offers security. Co‑ops are controlled by their members who have a vote in decisions about their housing. There is no outside landlord.

Each housing co‑operative is a legal association, incorporated as a co‑operative. Canada’s housing co‑ops are guided by international co‑operative principles, adapted for housing co‑op.

If you live in a non-profit housing co‑op you are:

A voting member who contributes to the governance of the co‑op
Part of a community where neighbours look out for one another
Living in housing that will stay affordable because it’s run on a non-profit basis and is never resold
Linked through the Canadian Co‑operative Association and the conseil canadien de la coopération with other Canadian co‑operatives active in banking, retail, farming, insurance, day care, health services and more
A member of a world-wide movement.

In a housing co‑op members have the right to:

Vote on the annual budget, which sets the monthly housing charges and affects the quality of your housing – for example, how much the co‑op will spend on property upkeep
Elect a board of directors made up of people who live in your co‑op
Run for the board of directors yourself
Receive audited financial statements that show how the co‑op spent your money
Pay only a limited portion of your income for your housing, if you meet eligibility rules
Live there for as long as you like, if you keep to the by-laws agreed on by the co‑op membership

For more information on what is required to create and run a co‑op, the laws and regulations governing co‑ops, and what sets co‑ops apart from other kinds of housing, see the Canada Mortgage and Housing Corporation’s “Guide to Co‑op Housing”.

So basically you are living with ppl who can't afford to pay rent at market levels. Mostly low income family, mental issue, health issue, or drug addicts.

Yeah I read those. I really don't have a problem with how its run. We checked out the place that we were looking at, other than being a little old I didn't find anything that I had any problems with in particular.

Originally Posted by Mr.HappySilp

LOL that actually made the news. I was watching the news and it reported that from May 2013 up till July 2014 there were over 720 incidents where people have to call 911 in that area due to thief, crime, drug abuse etc etc.... that's almost twice a day! And that's just calls to the police I am sure there are many many incidents where it was not reported to the police.

What I don't understand how come those low income housing people gets to live in a 700k + apartment while I work hard for my money but can't even afford such places? If the gov wants to help these people build them affordable housing elsewhere that is much much cheaper such as mission, hope, detla etc etc.... why waste prime real estate location?

My company provide cable to one of those co op housing and is a nightmare. You have people who don't have their bills for months and when you cut them off them come to your office and threaten you (we have to call police twice due to this). Their unit is also very dangerous (fill with needles, not clean, bed bugs) Our techs have refuse to complete install or even go into the suite due to this and the people gets piss coz they don't bother to take 30mins to at least tidy their units. So what do we do? No more co op housing for us and we only do basic cable there now so none of our techs needs to deal with this.

A co-worker who also rents near a co op building and he have since moved due all the mess. There are fights at night, people screaming, doing drugs on the street, selling drugs. One time he even saw an attempted murder there. And he lived 2 streets form a co op housing. Image living with them.

This is more like what I am looking for, I guess real reasons or news that coop would be a bad idea.


And to 4444, I'm not sure why the failing. If I know I wouldn't be asking about it.

[alphaspec1mens]

Originally Posted by Mr.HappySilp

CHF Canada : What is a housing co-op?


So basically you are living with ppl who can't afford to pay rent at market levels. Mostly low income family, mental issue, health issue, or drug addicts.

if you're 6'1 and good-looking, you can make a lot $ in sales having your business

[Gululu]

lineup for Brentwood TWO preview today

[cheeky_scrub]

How many office towers are they building at Brentwood? I think it would make sense to soak up the business demand in North Burnaby. This would encourage young workers to live and work in a densified location close to transit, instead of the out-of-the-way business parks in Big Bend/Still Creek/Canada Way.

[cheeky_scrub]

Originally Posted by alphaspec1mens

my parents are millionaires, there isn't a hint that you can tell they're rich from outside appearance.

Zimbabwean dollars don't count, sorry bruh.

[4444]

Originally Posted by Gululu

lineup for Brentwood TWO preview today

Lambs to the slaughter.

Buying prebuild for one of the earliest built in a development. That kind of risk would give me nightmares.

Flexible and liquid this is not

[lady_mapetite]

Originally Posted by alphaspec1mens

my parents are millionaires, there isn't a hint that you can tell they're rich from outside appearance.

I agree, old people with $ are very low-key

they don't have to, you're doing it on their behalf.

Originally Posted by 4444

Lambs to the slaughter.

Buying prebuild for one of the earliest built in a development. That kind of risk would give me nightmares.

Flexible and liquid this is not

agreed - i always tell my friends to stay away from purchasing prebuilds. i would feel more confident in buying a property that i can see and walk around versus what's on a map plan plus i personally don't think the discount from buying prebuilds is worth the risk, too many horror stories/surprises

[Mr.HappySilp]

^^ Is also public meaning a lot of good units have been purchase already from VIP, PRE-sales and workers.

Same thing happen I got in on the first day of pre sale(is not even out to public or VIP yet just employee) So I was able to pick a good unit at a price. For us it was +$1000 per floor, when it goes to public it wast +$2000 per floor not to mention a lot of the units are sold already so it doesn't matter how early these people line up for they aren't getting the good units they hope for.

[iEatClams]

Originally Posted by cheeky_scrub

How many office towers are they building at Brentwood? I think it would make sense to soak up the business demand in North Burnaby. This would encourage young workers to live and work in a densified location close to transit, instead of the out-of-the-way business parks in Big Bend/Still Creek/Canada Way.

not enough imo. They need more office towers near skytrains but I dont know why the city doesnt get on it.

they built Metrotower III in metrotown, but burnaby city's planners are dumb. should just restrict space or negotiate more office towers in exchange for more residential towers or higher bldgs or more density.

[EvoFire]

Originally Posted by iEatClams

not enough imo. They need more office towers near skytrains but I dont know why the city doesnt get on it.

they built Metrotower III in metrotown, but burnaby city's planners are dumb. should just restrict space or negotiate more office towers in exchange for more residential towers or higher bldgs or more density.

That, and they wouldn't have let the 5 station square towers go up, plus the 5 other ones around the area.

[alphaspec1mens]

Originally Posted by lady_mapetite

they don't have to, you're doing it on their behalf.

I don't really flash $ when I have it either, im already 6'1 of pure of ALPHA.

[Energy]

Its a shame that despite your supposed money and height you are still lacking in class and good manners. No one respects you and you are not truly an alpha. Too bad.

[alphaspec1mens]

Originally Posted by Energy

Its a shame that despite your supposed money and height you are still lacking in class and good manners. No one respects you and you are not truly an alpha. Too bad.

alphas don't need approval

[Energy]

Originally Posted by alphaspec1mens

alphas don't need approval

Unfortunately, the fact that you frequently come in here and post about your supposed money and height does not agree with that statement.

It seems that aside from manners and class, you are also lacking in intelligence and common sense.

[alphaspec1mens]

Originally Posted by Energy

Unfortunately, the fact that you frequently come in here and post about your supposed money and height does not agree with that statement.

how tall are you?

[Energy]

Originally Posted by alphaspec1mens

how tall are you?

Tall enough to not worry about my height.

Did you graduate from high school? You talk like an immature kid.

[alphaspec1mens]

Originally Posted by Energy

Tall enough to not worry about my height.

Did you graduate from high school?

I have enough $ that I never really worry about it

[Energy]

Money does make up for some of our flaws.

Its great that you supposedly have so much $ because it seems like you need a lot of it.

[alphaspec1mens]

Originally Posted by Energy

Money does make up some of our flaws.

Its great that you supposedly have so much $ because certainly you need a lot of it.

it does

I can go out and have fun everyday do whatever I want without thinking of ever going to a job

[Energy]

Originally Posted by alphaspec1mens

it does

I can go out and have fun everyday do whatever I want without thinking of ever going to a job

That's really nice that you can supposedly do all that fun stuff. Good for you.