Vancouver's Real Estate Market

[GLOW]

Originally Posted by winson604

Those Thind properties though are so different vs any other Sales Centre I walk into i.e. Jameson, Polygon, Porte, the list goes on. The sales people are so much more low class in appearence and speech, you've got c lais working there pushing sales.

that's wack man. when i go to a show room i expect the sales people to look and dress like cactus club servers i'm there to check out the sales center myself and look through the literature. only thing i need them to say is hello and thank you for coming

[iEatClams]

Originally Posted by winson604

^^
Truth, that's all you can really do. Looked at the new property yesterday at Renfew and 1st with Grandma and I'm warning her not to consider because Thind is not a trusted developer and I don't give a crap how many properties they've done their name constantly comes up when it comes to negative shit. Omni is another one that's on my banned list.

Thind is terrible. avoid at all costs. They mostly do low-rise infill projects but have one highrise on kingsway/earles area.

their buildings have many issues and they employ "cheap" labourers / contractors.

[Wormiez]

Originally Posted by Harvey Specter

On the topic of presales, just got back from the Arc presentation centre and put down my $10k deposit. They'll let me know in a few weeks "if" I can get a unit. It's getting beyond ridiculous.

Goodluck in your pursuit of the unit.
I snagged a corner unit at the Arc during presale. Seems like Concord didn't expect such madness in phase 1 of presales. They seem to be releasing more units, which weren't forecast to be released until spring/summer.. And increasing the cost per release....

[Tapioca]

I don't get why there are still lineups for presale condos. From an investment perspective, you're looking at a 3-5% return these days which is pretty small. I guess the old Chinese mentality about real estate is hard to break (even though a strata lot is far from a piece of land).

In my experience, you're better off buying something that is around 3-5 years old. You'll have a better sense of the building's strengths and weaknesses, the strata and fees, and how the individual unit has fared.

All buildings have issues. Expect the worst, but hope for the best.

[winson604]

Originally Posted by GLOW

that's wack man. when i go to a show room i expect the sales people to look and dress like cactus club servers i'm there to check out the sales center myself and look through the literature. only thing i need them to say is hello and thank you for coming

You miss my point. I'm not expecting cactus club servers and people wearing Gucci suits but the cheapness of and quality of Thind is in line the moment you walk in and talk to these people. Aside from looking like shit they are also unorganized, unprofessional, and lack any knowledge at all. The most basic of questions one would ask such as strata price per square feet are met with i don't know period or oh I have to check. Do your homework and be prepared.

Again what you wear doesn't really mean shit but in the professional world it can often be but definitely not always a reflection of what you'll get. What I'm saying in comparing A sales centre for Thind vs basically anywhere else is night and day. The level of class and everything else doesn't even compare but still at the end of the day they'll always sell because despite all that and their shit quality people want and like a deal and they will either sacrifice knowing that, lie to themselves and think it ain't that bad or just not know at all.

[GLOW]

your point was not missed. i was being sarcastic and making jest at them as i cannot take it seriously. the ridiculousness of your example demonstrated that, my example just took it to the end of the spectrum. i knew i shoulda added a few emos

i have an example from a coworker that's even more ridiculous relating to contracts with one of those big developers and their sales lady. totally unbelievable when i heard it. but ya it pretty much summed up the quality of the "sales professionals". of which they are not necessarily realtors themselves but push the paper for the developer to complete a sale.

[Mike Oxbig]

The Lynda Steele Show: Is 2016 the year the Vancouver housing bubble bursts? | News Talk 980 CKNW | Vancouver's News. Vancouver's Talk

[winson604]

Originally Posted by GLOW

your point was not missed. i was being sarcastic and making jest at them as i cannot take it seriously. the ridiculousness of your example demonstrated that, my example just took it to the end of the spectrum. i knew i shoulda added a few emos

i have an example from a coworker that's even more ridiculous relating to contracts with one of those big developers and their sales lady. totally unbelievable when i heard it. but ya it pretty much summed up the quality of the "sales professionals". of which they are not necessarily realtors themselves but push the paper for the developer to complete a sale.

My sarcasm radar was not on, my bad lol.

[iwantaskyline]

Originally Posted by Wormiez

Goodluck in your pursuit of the unit.
I snagged a corner unit at the Arc during presale. Seems like Concord didn't expect such madness in phase 1 of presales. They seem to be releasing more units, which weren't forecast to be released until spring/summer.. And increasing the cost per release....

What are the prices like for the Arc?

[Harvey Specter]

Originally Posted by iwantaskyline

What are the prices like for the Arc?

1 bedroom - 513 s.f with 38 s.f balcony = $400k to $500k's

1 bedroom + den - 533-680 s.f with 34-841 s.f balcony = $480k - $700k's

2 bedroom + den - 868 s.f with 66-376 s.f balcony = $700k - $1.2 million

This is for the pacific collection, floors 2-18.

[Hondaracer]

jesus christ, when did 2 br + den's start getting to be under 900 sq feet?

appealing to the buyers who are coming over from China and used to living in Dog cages?

i kid, i kid

[Harvey Specter]

Sq footage is decreasing and prices going up. Older studios and 1 bedrooms in some areas of DT are inching close to $1,000 per sq/ft.

A few 1 bedrooms in YT averaging around 540sq/ft which came up for sale within the past few weeks have sold for $500k+, I reckon you'll see 1 bedrooms nearing $600k by end of the year if this trend continues.

[GS8]

As someone who is working class and lives Hakuna Matata, I don't get swept up in new builds but am currently perusing the realty ads looking for a nicely aged Condo.

So I went to realitylink.com and looked up condos with a set price range to not exceed $400k just to see what would come up.

I saw this.

Detailed Residential Listing

Is this on par with the market based on size, location etc? I'm new at all this and just gauging everything right now.

[westopher]

Originally Posted by Harvey Specter

1 bedroom - 513 s.f with 38 s.f balcony = $400k to $500k's

1 bedroom + den - 533-680 s.f with 34-841 s.f balcony = $480k - $700k's

2 bedroom + den - 868 s.f with 66-376 s.f balcony = $700k - $1.2 million

This is for the pacific collection, floors 2-18.

This is going to make me sleep so well tonight with my condo purchase. Those prices are fucking batshit.
From the renders the finishings look really nice though.

[Stormspirit]

Investment wise real estate, if you had 400k, would you buy a brand new Condo or a House in terms of renting it out and waiting for it to rise in value, which one would gain you the most money in the short and long term?

[kr4l]

Originally Posted by Stormspirit

Investment wise real estate, if you had 400k, would you buy a brand new Condo or a House in terms of renting it out and waiting for it to rise in value, which one would gain you the most money in the short and long term?

A house has the biggest chance to make money, but also has the biggest chance to lose money. Your Gamble

Personally, if I had that kind of money burning my pocket and could afford the mortgage, I would choose house hands down. Preferably with 2 basement units and a laneway home (if those were the only 2 choices)

[Traum]

Originally Posted by Stormspirit

Investment wise real estate, if you had 400k, would you buy a brand new Condo or a House in terms of renting it out and waiting for it to rise in value, which one would gain you the most money in the short and long term?

Hmm... is it just me? or does it seem like $400k is quite a small sum these days for RE purchase?

I really don't know how much you can get for such a small amount. Something in the 500 - 600 sq ft, 1 bedroom range if it is in Vancouver? Or if you move out to Coquitlam / Surrey, that can probably get you something in the 800+ sq ft range.

And if you want a house for that... well... I don't even know how far east you'd have to move. Maple Ridge? Mission? Abbotsford / Chilliwack?

[4444]

Originally Posted by Stormspirit

Investment wise real estate, if you had 400k, would you buy a brand new Condo or a House in terms of renting it out and waiting for it to rise in value, which one would gain you the most money in the short and long term?

if it doesn't cash flow positive, it's not an investment, it's speculation.

whichever one has the higher yield will provide greater downside protection.

as for upside potential, you look at the future potential for income growth.

this is the fundamental / financial view, not the speculative view (most have the latter, as Vancouver is entirely a speculative market right now)

[Manic!]

I Love Vancouver, But It Doesn't Love Me | Aaron Scott Hildebrandt

If you can find a job outside Vancouver move. there are better places than Vancouver.

[TouringTeg]

Lower Mainland migration behind increased real estate sales? | CHEK

I was just going to post that link as well as this one about Victoria prices starting to increase.

For $520k in July 2015 I bought a 1939 house on a 7500 sq ft lot a 10 min drive to my office and downtown, 4 bed 2 bath , living room, family room, dining room, office, two car in house garage plus a detached 700 sq ft workshop I rent out. I can see the ocean from the front porch too.

[Hondaracer]

What a bunch of fucking whining..

And another story of a couple that has a kid then complains it's not affordable, must have had excellent planning to realize that after the fact.

Guy is employed in an industry which will he completely extinct in 5 years and is complaining shit ain't affordable. Typical

[Z3guy]

Originally Posted by Manic!

I Love Vancouver, But It Doesn't Love Me$|$Aaron Scott Hildebrandt

If you can find a job outside Vancouver move. there are better places than Vancouver.

haha! so funny, I do agree for outsiders who don't understand how Vancouver works, it is very difficult to make friends, especially if you are an introvert. For whatever reason, Vancouverites stay with their same "clicks" that they have know since they were young....Toronto is probably the easy city to meet people in Canada because most young people move there for better career opportunities.
I grew up in the Oakridge area, heck I remember when Oakridge was an outdoor mall! His comments about daycare seems correct on the surface, but Vancouver is an odd city that you need to know someone to get what you want. Vancouver is a city all about connections, if you don't got them, it is very tough.
For my work, I have had to opportunity to travel all over the place from Sweden to South America and I have yet to find an overall blend of a better place to live and raise my family. Sure it is stupid expensive to live, but do you think people who choose to stay in Vancouver are dumb? Heck I could buy a 7000sq ft house on a 2 acre plot in Abbotsford, but I would rather have my 33x120 in Vancouver. Different strokes for different folks.......

[Gamed]

May I have you guys input on mortgage broker?

TD, RBC for mortgage?

[smoothie.]

when I shopped around managers at banks only gave me the best posted rate on websites,
then I hear how my friends got lower rates when renewing.

so theres that...

I like the idea of a mortgage broker, I just don't really like the lending institutes they pick which is usually some chinese lender

[unit]

who invites a dozen people for their birthday and has zero people show up? maybe its a problem with his personality that nobody wants to spend time with him.