Vancouver's Real Estate Market

[nah]

the local market needs a bit of this...

[Hondaracer]

Went to an open house yesterday, kamloops and Pandora east Van

Original structure was built in 95, partially gutted by a fire, completely reno'ed in 2006. Hardi siding, cedar shingle facad etc

Interior finishing were pretty meh, has a 680 sq foot suite basement entry, seperate laundry. Detached garage and a parking pad for the suite

1.899

[westopher]

Its funny. 2 years ago that would have been my e30 m3 of homes. A dream, but a 100% attainable dream. Now its my 550 maranello with gated shifter. I still want it, but its never ever going to happen, and even if I had the money there are hundreds of things I'd rather spend it on.

[dat_steve]

heavy thoughts for a monday morning dude

[westopher]

Lol. Its my weekend.

[IGTBAR]

.

[smoothie.]

of course they are

those homes were 200k cheaper a year or two ago.

[Hondaracer]

Lots of new west still feels ghetto as fuck to me. It's crazy how different the feel is just across the highway. On the last few pages I saw a lot of people talking about the high gate area etc being ghetto but I think I'd rather be there than most of new west

With that said there are some really nice spots around, but anything close to downtown new west up till about 6th ave (think that's the crossing) always feels dirty to me

[adambomb]

For me, New West ain't ghetto no mo son.

There have been massive improvements in all neighbourhoods in New West. The only ghetto areas are around Douglas College and that ain't as ghetto as it used to be when the strip clubs were in that hood. There are less visible transients with shopping carts cruising the alleys than their used to be.

If you have a fairly stable career, an oversized beard, a wife who cooks brown rice instead of white rice and loves character homes. New West is the place to live now that Kits and parts of Hastings-Sunrise are completely out of the reach for most people.

[Tapioca]

Originally Posted by IGTBAR

What does everyone think about New West?
Seems that there are still some deals to be had for detached homes (crazy that a "deal" is now pushing a mill these days).

New West is unique several respects. It's a relatively small city with little heavy industry, so its residents pay higher property taxes than average. Also, while it's in the centre of Metro Vancouver, people travel through New West to get somewhere else, so there are traffic issues. Furthermore, the city is not contiguous - you have part of the city cut off from the rest via the Queensborough Bridge. There's only one high school that serves the entire city.

With that said, New West has history (it was the original capital of BC) and a variety of housing stock that comes with it. Recent city councils have tried, with mixed success, to redevelop the downtown core. There's Skytrain and adequate bus service. There's a certain grittiness to the city that reminds you of East Van maybe 25 years ago. For these reasons, the Georgia Strait called New West "Vancouver's Brooklyn" a few years back.

Like other cities in Metro Vancouver that are not Maple Ridge or Mission, New West was a relative bargain about 5 years ago. You could have definitely gotten a modest bungalow for about 500K.

[IGTBAR]

Depends on what everyone defines as ghetto.
Feel safe walking around at night or raising your kids in the area?

Is there a high car/home crime rate?

The homes do look nice and the pricing is still within reach for some for a detached.

[originalhypa]

Originally Posted by Hondaracer

Lots of new west still feels ghetto as fuck to me. It's crazy how different the feel is just across the highway. On the last few pages I saw a lot of people talking about the high gate area etc being ghetto but I think I'd rather be there than most of new west

Agreed.
I went to a wedding at the Quay last summer, and saw a lot of the New West hood rats going to and from the beer store there. Close to the water is still pretty ghetto, although the further up the hill you go the better it gets.

I play at the little rink on 8th and 8th, and regularly leave the area late at night. I have no fear at all of being alone at midnight out there. A decade ago I sure would be leery though.


On a side note, my old apartment at 715 Royal ave is up for sale. I paid $80k in the late 90's, and sold in the early 2000's for $125k. The same place is listing for $168,900 now. I guess that some properties aren't seeing the high price jumps. It was a sketchy building, in a sketchy area though.

[Liquid_o2]

Old properties in various areas of Metro Vancouver have not seen large price increases. My friend lives in an older condo near Lougheed Mall and has not seen almost any price appreciation over the past few years.

[Hondaracer]

Originally Posted by IGTBAR

Depends on what everyone defines as ghetto.
Feel safe walking around at night or raising your kids in the area?

Is there a high car/home crime rate?

The homes do look nice and the pricing is still within reach for some for a detached.

I used the term ghetto relatively. IMO there are very few "bad" neighbourhoods in the lower mainland where I wouldn't walk at night etc. parts of surrey, downtown east side, etc and even then it's not like your gonna get shanked in these places.

I just find a lot of new west is very old and run down. Neighbourhoods with decent houses around have old cracked side walks, unkept trails/green spaces, the odd delapidated property here and there.

As well, new west throughout seems to have a ton of old run own businesses, thy area where the save on etc is seems like its been somewhat rejuvenated but everything else around it is kind of grungy and run down.

New west also has a shit load of the older low-rise rental units. Some I'm sure are fine but a lot of them just look like te type where your unsavoury characters probably reside.

With that said, all those factors could be ideal in finding some actual "value" for once, and odds are eventually te areas I'm talking about will be updated or torn down. Lots of development opportunities with all those old rental building.

[IGTBAR]

Originally Posted by Hondaracer

I used the term ghetto relatively. IMO there are very few "bad" neighbourhoods in the lower mainland where I wouldn't walk at night etc. parts of surrey, downtown east side, etc and even then it's not like your gonna get shanked in these places.

I just find a lot of new west is very old and run down. Neighbourhoods with decent houses around have old cracked side walks, unkept trails/green spaces, the odd delapidated property here and there.

As well, new west throughout seems to have a ton of old run own businesses, thy area where the save on etc is seems like its been somewhat rejuvenated but everything else around it is kind of grungy and run down.

New west also has a shit load of the older low-rise rental units. Some I'm sure are fine but a lot of them just look like te type where your unsavoury characters probably reside.

With that said, all those factors could be ideal in finding some actual "value" for once, and odds are eventually te areas I'm talking about will be updated or torn down. Lots of development opportunities with all those old rental building.

Fair enough. I guess it's up to the individual if they can handle being in the middle of all of this and wait it out for gentrification.

I also think about opportunity cost of time as well. If it takes 20 years for the area to clean up and I'm 50 years old, is it going to be as enjoyable to me or am I going to want to start looking at place I can retire at? At that point I'm not reaping the benefits of the place I waited so patiently for.

[Hehe]

I currently live in Queensborough and I find it to be fine. Other than having to deal with bridge traffic during rush hours, I don't have anything to pick with the area.

Over on the mainland part though, the area between the 2 skytrain stations can be sketchy from one block to another, but a friend of mine bought a oldtimer (fully renovated though) near Moody park and I think it's awesome. Other than the fact that most of your neighbours would be in the 60s or more, 0 problem and very nice park.

[Gululu]

Escala Brentwood near the creepy cemetery where the crows gather. pretty undesirable imo. Although Escala at $550/sqf is still a bargain than metrotown condos.

[Hondaracer]

that TH110 1225sq ft for $682, not bad..

[Bonka]

Originally Posted by IGTBAR

What do you guys think about this place: https://www.realtor.ca/Residential/S...olumbia-V5N3Z2

Under priced for a bidding war?

Any thoughts on what it will sell for?

Sold for $890k no conditions.

[Liquid_o2]

Originally Posted by Bonka

Sold for $890k no conditions.

WAT

Are we nearing $1 million for east side townhouses now?

[smoothie.]

seems right.

keep it going!

[GLOW]

Originally Posted by Bonka

Sold for $890k no conditions.

that sold for more than my east van detached house did over a year ago

[Nlkko]

You know we'll see these soon lol. Nice Vancouver condo from only $,$$$,$$$

[winson604]

Originally Posted by Gululu

Escala Brentwood near the creepy cemetery where the crows gather. pretty undesirable imo. Although Escala at $550/sqf is still a bargain than metrotown condos.

Depends, cemetery doesn't bug me personally. Imo if you want like Brentwood area this spot is great. Close to all the Brentwood action but closer to Boundary side makes for quicker escape if you head out West for work. Boundary to Willingdon doesn't seem far but being just East of Willingdon vs being here at Gilmore and heading West is a difference. Man avoiding the cluster fuck around Willingdon in general is a plus for me.

Prices I mean in this market are pretty good and Lancaster has been developing for 100 years and by all accounts seem to have a good rep.

[Tapioca]

Those Escala townhomes are likely stacked which is less desirable than the rowhome form (I'm guessing by the size of the site itself). No garages and you may be above/below someone vis-a-vis the concrete townhomes at the base of the concrete tower. However at 563K, they seem a bargain in this market considering the location. With the cemetery, at least if you're on that side of the building, your view will never disappear.

Even the starting prices for the concrete units don't seem that bad. People are paying over 500K for similarly-sized units in Tandem, the Marquis Grande, the Buchanan, and One Madison Avenue which are over 10 years old. With modern condos, you live in them for 5-8 years and hope someone buys your unit before the double-glazed windows, elevators, and boiler need to be replaced.

BTW, the crows tend to gather towards One Madison Avenue. They will likely occupy that new Polygon tower Fulton House a fair bit too. Good luck with the landscaping there.