Who's to say what market value is. If I can find 1 crazy buyer willing to pay 50% over asking/market value, does that make it the new market value?

The sellers could/should have interviewed several realtors/brokerages before signing on with New Coast. If they didn't that is their fault. If they agreed, it's likely because new coast offered them the best package and outlook. All that stuff about price suppression etc, interviewing different realtors should should give the seller an idea of what the mark value is. With that said, why would a seller then agree to list with a realtor who has offered them the poorest market assessment?

My point is that there is value to realtors/firms who have connections to these deep pocketed buyers who can make these big offers and purchases, regardless of their business practices good or bad. Its ultimately the seller at the end of the day that decides what his own fair selling price is, nobody else. If the number is no good, he isnt forced to sell. What anything that I sold, then sells for the day after, has no relevance to me. Though I can see that if one were to 'miss out' on 100k+ why one would be peeved.

market value and price are two different things.

market value would be based on average comparables, considering certain factors like $/sq ft, rental yield, etc. but these, again, are based on actual sales of similar properties

price, as you refer to, happens when you have special interest purchasers (more a consideration for companies than residential real estate), crazy people willing to spend, one time, a crazy amount, differences due to negotiating skills, etc.

your one time example will end up as an outlier and is usually ignored for market value analysis.

what 4444 said.

yeah if u can find some dude willing to pay 50% more sure...

just like if u can sell your can of coke for 10 bux to someone... even though every vending machine is selling it for 1.25.

if you've ever traded stocks, it's the same thing. there's a market value... it's what most people will pay and sell it for.

you can also think of it like the used car market... you roughly know what year model car is worth based on assessed value... some idiot might be desperate and wanna buy it for more, and there are plenty of low ballers that want it for less.

BUT as a car salesman, you KNOW what you SHOULD be getting for the car, anything more is a bonus, anything less and you're the desperate one trying to dump the car.

depends on how the agent positioned the deal to you as.

if they told you "yah that's the best price you gonna get bro"
and then the next day they flip it for 100k more, you're obviously gonna be pissed.

the sellers obviously always want the "best" price. there's no way an agent can flip it for 100k more the next day, without somehow "scamming" the seller the day before, by lying to them.

unless they worded it like "this is a fair price to you?"
but no seller would just be like "yah"

they would obviously ask "is this the BEST price I can get it at?"
and if the agent says "yes". then they are lying and should be fined and have their licence reviewed by the agency enforcing these rules.

all brokers and agents for any buying/selling are supposed to be trust worthy... otherwise common people will just lose trust in them and there would be no PURPOSE of these agents existing...

who the fuck wants a slimy middleman when they're supposed to be helping you...

For those of you raised in Vancouver/Burnaby - would you make the move out to Coquitlam? It looks like you can still get detached homes for around 800k.

Molson Coors brewery site in Vancouver reportedly sold - NEWS 1130

Concord Pacific has apparently bought the Molson Coors brewery on Burrard for a reported $185 million.


Seems like bargain considering the size and location but
“As much as it might look to be a desirable site on False Creek, it’s dedicated industrial land. I can’t see that we can circumvent that,”

How old of a house and where abouts in Coquitlam?
Newer Duplexes with decent sq footage is going for close to a Mil now. We are talking in the Burquitlam Lougheed area.

you have to factor in the 20mm they will spend in lobbying and lawyer costs to get the land changed from industrial to residential. I don't Concord bought the land it keep it industrial......

Haha true

I doubt you can get detached anywhere in Coquitlam proper for 800K. You might be able to get a fixer-upper in PoCo on a standard 33 foot lot for that kind of money though.

Consider this: a mid-1980s townhouse, 2000 square feet, just off of Mariner Way sold for 700K a couple of months ago.

A couple of months ago, the realtor we worked with was selling an old bungalow on the edge of Burke Mountain for less than that. He got no offers the first week it was on the market (which is very rare), but I'm sure it's sold by now. It had a creek running through the property and only 1 full bathroom which limited its appeal. There may still be these types of properties on the market, but they're rare.

In the limited number of times I've ridden the West Coast Express, it's a pretty sweet commute considering the mess that is the Skytrain is these days. If your work schedule works with the limited operating hours of the WCE, it makes your commute a lot more enjoyable.

.

First place has been on the market for 8 days.
2016 assessment has it listed at $612K.
Built in 1980.
House is located on the east end of Coquitlam, just before Poco.

Second place is built in 1971.
Assessed at 490,300 but is in Poco.

Third place is built in 1982.Again, on the east side of Coquitlam.

Fourth one is built in 1981 and again on the east side of Coquitlam.

Fifth one is built in 1981 and again on the east side of Coquitlam.

Let's check again in a month to see how much they sell for.

The commute from New Horizons to Vancouver can be a bitch. Pipeline, Westwood and Lougheed traffic before you even reach the freeway. The houses are old and very close to neighbors.

South PoCo has better lot sizes and is closer to the freeway but for 800k, you're getting a fixer upper. Anything decent, in move in ready condition, will sell for closer to 900+ to start.

I moved from East Van to Maillardville, ages ago. If I didn't have family and need the space, I'd stay in Van/Bby, in a duplex.

Realistically what would be the drive time from East Coquitlam to Vancouver during rush hour? 30-45 mins?

From New Horizons to Grandview/Rupert, leaving at 730, 45ish. Leaving there at 430, to go home,45-50+

lol damn, you've got almost the same commute as i do
northeast poco to willingdon takes me about 40ish mins
i suggest a good podcast...i don't notice the time much these days. Unless an accident happens

At 6:30 am, it takes me 20-25 minutes to drive from SFU to Chinatown.
When I leave work at 4 pm, it takes me 35 minutes to get home.

According to Google maps, at 11 am, it would take 32 minutes to go from Coquitlam center to Chinatown if you took Hwy 1 or 37 minutes along Barnett and Hastings.

Lol, I try to avoid all that crap altogether by starting before 7 and leaving before 3 or after 6

Crazy. Anything above 45 minutes commute one way in a car - is it worth it?
Not sure anymore.

Unless you live right by Evergreen line or WCE and work right along the same lines - that 1.5-2 hours in a car each day really adds up over the course of a week/month.

depends on the person i guess, mind you i have no kids yet so that may change in the future.

I thought it would bother me a lot but I got used to it...people will point to the minutes commuting and how it adds up but i'd probably just be dicking around at home thinking about what to eat with the extra time anyway.

To be honest, I hate driving in Vancouver more...25 mins in non rush hour and I can go from PoCo to downtown Van.
My parents take 30-40 mins to go from their place in Strathcona to Southwest Vancouver in non-peak hours, worse in the summer when there's construction going on.

Sometimes you don't have a choice. Suitable (obviously depends on person) rental vacancies are hard to come by (even more so if you have a family in tow). Some people can't just drop their current jobs in favour of something closer to where they live. The "vice-versa" scenario of looking to live where you work is even more difficult, especially if you work in Vancouver/Burnaby.

People do what they can if they want to continue to live here.

Depends how much value you put on money/location/house size/time with family and obviously, what your budget is.

I understand where you're coming from. I did the Skytrain commute from Brentwood to my office downtown for 8 years. A half-hour commute is ideal.

As most Econ professors will teach you, there's no "free lunch". You either pay for it in cash, or time. As others have said, Brentwood is very hot right now. You can get a good return on the equity you've built in your condo if you sell it today. Based on your income, you and your husband can go all in and buy a stacked townhouse on Commercial Drive for 850-900K. Huge risks with that of course, but if you really, really want to buy, then that is the risk you have to take. Even renting in today's market is fraught with risk. So is putting your equity into the market and hoping for 6-8% after taxes over the long term.

Or, you could buy something like this for 500-525K:

458 Carlsen Place - r2056094 : Port Moody Townhouses, Port Moody Townhomes : Portmoodytownhouse.com

Minutes away from the water, shopping, and the future Inlet Centre Skytrain station. Good schools in the area and a median household income over 100K. Save the rest on what you would have spent on your mortgage and put it into your future children's RESPs, passive index funds, etc.

I think it's very tough to make the jump from condo to freehold, detached unless you're going from Yaletown to somewhere like Pitt Meadows. It is what it is.

Ironically, I've been keeping an eye on Pitt Meadows, since the Poco market went full retard. Very few listings come up and there's only one way in and out. Also, since it's such a small city, property taxes are higher than you'd expect.

If you can get a property close to Harris Road, you're good. Based on my conversations with people who live there, they enjoy the city, but if they're looking to upgrade, they have little choice because Pitt Meadows has limited housing stock. I've been told that residents seem to prefer Walnut Grove over Maple Ridge.

Pitt Meadows will always have a niche that Maple Ridge won't. Based on growth projections, Maple Ridge could well become the next Coquitlam in 20 years. Lots of land that isn't ALR.