Vancouver Off-Topic / Current Events The off-topic forum for Vancouver, funnies, non-auto centered discussions, WORK SAFE. While the rules are more relaxed here, there are still rules. Please refer to sticky thread in this forum. | | |
05-19-2013, 02:37 PM
|
#576 | I *heart* Revscene.net very Muchie
Join Date: Apr 2001 Location: Van, BC
Posts: 3,666
Thanked 728 Times in 435 Posts
Failed 33 Times in 19 Posts
|
According to condo kings theory, who is buying the paid off houses belonging to boomers allowing them to downsize and fund their kids' downpayments? Seems like a pretty big gap in the model he is proposing, addressing only the entry level market and those looking to cash out of the market.
|
| |
05-20-2013, 02:26 PM
|
#577 | Need to Seek Professional Help
Join Date: Jan 2005 Location: Van
Posts: 1,048
Thanked 542 Times in 291 Posts
Failed 27 Times in 15 Posts
|
Looking to move out within the next year or two and it is increasingly frustrating to see what people are willing to pay...
Apologies for the upcoming rant...
Checked out shoreline, the new development by polygon at Kent & Kerr in East Van. 2Bds start from 400 and run to about 550 (roughly $500/sqft), but strata fees are estimated to start at $0.38/sqft! That only covers heat, hot water, gas and the city water bill. Amenities will be restricted to a fitness room & a shared common lounge. The first phase was about 40% sold (most, if not all of the cheaper 2bds were taken) but I cannot imagine paying $360-400 a month in strata for those amenities. In comparison, the units at false creek that I've looked at were estimating strata fees at $0.35/sqft but that includes security, concierge and A/C in addition to covering heat, hot water and gas.
I've been following the alleged housing bubble and MOI/sales for the past year or so and my real estate outlook is quite bearish... but going out there and visiting some of the presale condos has me quite frustrated and confused.
|
| |
05-20-2013, 02:44 PM
|
#578 | I contribute to threads in the offtopic forum
Join Date: Jun 2006 Location: not vancouver
Posts: 2,642
Thanked 1,941 Times in 765 Posts
Failed 532 Times in 202 Posts
| Quote:
Originally Posted by Alpine Looking to move out within the next year or two and it is increasingly frustrating to see what people are willing to pay...
Apologies for the upcoming rant...
Checked out shoreline, the new development by polygon at Kent & Kerr in East Van. 2Bds start from 400 and run to about 550 (roughly $500/sqft), but strata fees are estimated to start at $0.38/sqft! That only covers heat, hot water, gas and the city water bill. Amenities will be restricted to a fitness room & a shared common lounge. The first phase was about 40% sold (most, if not all of the cheaper 2bds were taken) but I cannot imagine paying $360-400 a month in strata for those amenities. In comparison, the units at false creek that I've looked at were estimating strata fees at $0.35/sqft but that includes security, concierge and A/C in addition to covering heat, hot water and gas.
I've been following the alleged housing bubble and MOI/sales for the past year or so and my real estate outlook is quite bearish... but going out there and visiting some of the presale condos has me quite frustrated and confused. | that's because you're looking at presale/brand new - i'd never want brand new - buy a couple years old, get basically same benefits of new, but with all the kinks of a brand new building dealt with, and likely a slightly sweeter deal
or, if you don't like the cost - rent nothing wrong with renting, esp. a condo (i've posted a dozen times as to why i would never own a condo that i live in - and i can afford to buy my place handsomely... but i don't)
|
| |
05-20-2013, 04:15 PM
|
#579 | resident Oil Guru
Join Date: Mar 2005 Location: Vancouver
Posts: 7,716
Thanked 10,457 Times in 1,794 Posts
Failed 1,065 Times in 267 Posts
|
Any good resources for looking at older units listings? Posted via RS Mobile |
| |
05-20-2013, 04:35 PM
|
#580 | OMGWTFBBQ is a common word I say everyday
Join Date: Apr 2001
Posts: 5,027
Thanked 2,538 Times in 1,155 Posts
Failed 81 Times in 54 Posts
|
The question I ask everyone here (and myself quite often) is why don't we all just leave Vancouver? No jobs, no economic growth prospects, a bubble RE market, and snobbish attitudes to boot.
Vancouver doesn't recognize talent and pays 15-30% less for those who are talented.
Last edited by Tapioca; 05-20-2013 at 04:40 PM.
|
| |
05-20-2013, 04:50 PM
|
#581 | Banned By Establishment
Join Date: Dec 2003 Location: New West
Posts: 3,998
Thanked 2,982 Times in 1,135 Posts
Failed 284 Times in 109 Posts
| Quote:
Originally Posted by Tapioca The question I ask everyone here (and myself quite often) is why don't we all just leave Vancouver? No jobs, no economic growth prospects, a bubble RE market, and snobbish attitudes to boot.
Vancouver doesn't recognize talent and pays 15-30% less for those who are talented. | Here's my opinion, and opinion only.
Rest of Canada:
Right now, I see 2 options. Alberta(oil patch for some, Calgary for others)and Toronto.
Calgary is fucking cold and Toronto is...an interesting place.
United States:
Well, choosing a place is overwhelming, but the problem is how to do it. You can get a job, and have them say they need you over an American. That will get you residency.
You can fuck your way to a citizenship, but you are screwed if you aren't the marrying type, or already have a SO.
World:
Good luck coming home.
So, we are stuck in Vancouver.
|
| |
05-20-2013, 05:02 PM
|
#582 | Willing to sell a family member for a few minutes on RS
Join Date: Apr 2011 Location: North vancouver
Posts: 12,632
Thanked 32,351 Times in 7,533 Posts
Failed 213 Times in 161 Posts
|
Agreed. For me, someone who wants to live in a moderate climate, and snowboard all winter, its my only option in Canada, other than Naniamo maybe. For my career, I really need to live in a big city. Essentially, some of us really just have to deal with it unless we are prepared to make certain sacrifices. At this point, I can't bring my self to make those sacrifices, so I make a poor financial decision to live here. Once my wife finishes her schooling, the states is an option, but being an LPN she is really only licensed to work as a nurse in canada. We aren't literally stuck, but we've stuck ourselves here with our decisions.
|
| |
05-20-2013, 05:22 PM
|
#583 | 14 dolla balla aint got nothing on me!
Join Date: Apr 2011 Location: Vancouver
Posts: 694
Thanked 818 Times in 177 Posts
Failed 88 Times in 27 Posts
|
I'm definitely getting the hell out of here with my family once I'm done schooling. Never understood why my parents choose Vancouver of all places anyways. I don't think I will ever understand the appeal of living in Vancouver. |
| |
05-20-2013, 05:39 PM
|
#584 | RS.net, where our google ads make absolutely no sense!
Join Date: Mar 2011 Location: Richmond
Posts: 916
Thanked 692 Times in 227 Posts
Failed 68 Times in 25 Posts
|
I see a lot of people complaining about the prices of condos and housing in Vancouver's hotspots. Why haven't you guys considered Surrey and Delta? Prices are still reasonable there. Sure, it's a bit of a commute, but you can't have everything right? I know people who are happily living in Surrey and work in Vancouver and they certainly aren't pulling 6 figures.
It seems like you guys are creating a false dilemma by restricting yourselves to only looking at the heart of Vancouver.
|
| |
05-20-2013, 05:59 PM
|
#585 | I *heart* Revscene.net very Muchie
Join Date: Apr 2001 Location: Van, BC
Posts: 3,666
Thanked 728 Times in 435 Posts
Failed 33 Times in 19 Posts
| Quote:
Originally Posted by Alpine Looking to move out within the next year or two and it is increasingly frustrating to see what people are willing to pay...
Apologies for the upcoming rant...
Checked out shoreline, the new development by polygon at Kent & Kerr in East Van. 2Bds start from 400 and run to about 550 (roughly $500/sqft), but strata fees are estimated to start at $0.38/sqft! That only covers heat, hot water, gas and the city water bill. Amenities will be restricted to a fitness room & a shared common lounge. The first phase was about 40% sold (most, if not all of the cheaper 2bds were taken) but I cannot imagine paying $360-400 a month in strata for those amenities. In comparison, the units at false creek that I've looked at were estimating strata fees at $0.35/sqft but that includes security, concierge and A/C in addition to covering heat, hot water and gas.
I've been following the alleged housing bubble and MOI/sales for the past year or so and my real estate outlook is quite bearish... but going out there and visiting some of the presale condos has me quite frustrated and confused. | You shouldn't be frustrated at what people are willing to pay. If the market falls out, you'll be glad you didn't buy in, and you have a chance to capitalize. If the market remains stable or even goes up, the pricing was out of what you were willing to pay, no shame in that. Don't rely too much on presale strata fee estimates, on an 650sf unit the difference is $20/mth with the figures you posted. If $20/mth is going to tip you one way or another, you need to evaluate how much sense buying really makes. Looking for a good deal on a newish pre-owned, or even renting are great options right now. Stick to your guns and let your head do the thinking.
I'm more frustrated not being able to get a read on what my home is worth when we make our move. It seems like sales in our area are largely right place right time, with some units sitting idle and still on the market after 4-5 months and a couple units selling within 4-6 weeks. And I feel they are quite reasonable priced as well too. More difficult dealing with/maximizing your existing asset, than deciding what asset to buy into IMO.
|
| |
05-20-2013, 08:00 PM
|
#586 | WOAH! i think Vtec just kicked in!
Join Date: Apr 2004 Location: Vancouver
Posts: 1,687
Thanked 731 Times in 294 Posts
Failed 76 Times in 29 Posts
| Quote:
Originally Posted by Alpine Looking to move out within the next year or two and it is increasingly frustrating to see what people are willing to pay...
Apologies for the upcoming rant...
Checked out shoreline, the new development by polygon at Kent & Kerr in East Van. 2Bds start from 400 and run to about 550 (roughly $500/sqft), but strata fees are estimated to start at $0.38/sqft! That only covers heat, hot water, gas and the city water bill. Amenities will be restricted to a fitness room & a shared common lounge. The first phase was about 40% sold (most, if not all of the cheaper 2bds were taken) but I cannot imagine paying $360-400 a month in strata for those amenities. In comparison, the units at false creek that I've looked at were estimating strata fees at $0.35/sqft but that includes security, concierge and A/C in addition to covering heat, hot water and gas.
I've been following the alleged housing bubble and MOI/sales for the past year or so and my real estate outlook is quite bearish... but going out there and visiting some of the presale condos has me quite frustrated and confused. |
historically, prices lag behind sales about 9 months or so. Sales (number of transactions) have been 40% below 10 year averages, so many are starting to think prices will come down soon. If you can wait, wait.
False creek has been dropping their prices since last year. Richmond and westside have arleady seen a significant dent, just a matter of time before it comes around to other areas imo.
BTW - dont fully trust developers and the % sold that they claim, they only release certain number of units, and then when they sell out, they can advertise the "sold out" signs to create more demand that isnt really there, and then release more units.
|
| |
05-20-2013, 08:07 PM
|
#587 | WOAH! i think Vtec just kicked in!
Join Date: Apr 2004 Location: Vancouver
Posts: 1,687
Thanked 731 Times in 294 Posts
Failed 76 Times in 29 Posts
|
BTW - for those that say Vancouver has a lack of land which is why RE and land will always go up.
google Vietnam Real estate bubble, or vietnam property bubble. Vietnam has shiet loads of people and barely any land.
The country had a crazy run up in RE prices due to speculation and cheap credit (sounds familiar to Canada doesn't it?), and RE prices started to come down.
|
| |
05-20-2013, 08:38 PM
|
#588 | I bringith the lowerballerith
Join Date: Mar 2002 Location: Vancouver
Posts: 1,103
Thanked 107 Times in 60 Posts
Failed 31 Times in 12 Posts
| Quote:
Originally Posted by LiquidTurbo Any good resources for looking at older units listings? Posted via RS Mobile |
Realtor or if you have a friend or acquittance in the building.
Generally you should be able to do some DD with your realtor's help.
__________________
ATTACK
|
| |
05-20-2013, 08:39 PM
|
#589 | I bringith the lowerballerith
Join Date: Mar 2002 Location: Vancouver
Posts: 1,103
Thanked 107 Times in 60 Posts
Failed 31 Times in 12 Posts
| Quote:
Originally Posted by Tapioca The question I ask everyone here (and myself quite often) is why don't we all just leave Vancouver? No jobs, no economic growth prospects, a bubble RE market, and snobbish attitudes to boot.
Vancouver doesn't recognize talent and pays 15-30% less for those who are talented. | People like the "West Coast" Lifestyle too much.
Grouse grind / The Chief
Seawall
Skiing / Snowboarding
Fishing
Dog parks
Girls in yoga pants.
Lists goes on....
__________________
ATTACK
|
| |
05-20-2013, 09:42 PM
|
#590 | OMGWTFBBQ is a common word I say everyday
Join Date: Apr 2001
Posts: 5,027
Thanked 2,538 Times in 1,155 Posts
Failed 81 Times in 54 Posts
| Quote:
Originally Posted by Geoc I see a lot of people complaining about the prices of condos and housing in Vancouver's hotspots. Why haven't you guys considered Surrey and Delta? Prices are still reasonable there. Sure, it's a bit of a commute, but you can't have everything right? I know people who are happily living in Surrey and work in Vancouver and they certainly aren't pulling 6 figures.
It seems like you guys are creating a false dilemma by restricting yourselves to only looking at the heart of Vancouver. | Even detached houses in Surrey/Delta cost at least a half million. For an average upper middle class couple making a combined income of $150K year, that is still significant, particularly if you have to pay off student loans and have been unable to accumulate much in savings because you've been living away from home. You also have to factor in commuting costs over say 5-10 years. If you have to commute to Vancouver from Surrey, that costs you about 5 grand a year in insurance, gas, and maintenance.
Even if you could afford to buy a home for a half million, you're tied to a city with limited career mobility and a ceiling in terms of your income. No one would be too concerned if you could easily make 6-figure salaries after 10 years, but the problem in Vancouver is that most people top out at 6 figures.
|
| |
05-20-2013, 10:12 PM
|
#591 | RS.net, where our google ads make absolutely no sense!
Join Date: Mar 2011 Location: Richmond
Posts: 916
Thanked 692 Times in 227 Posts
Failed 68 Times in 25 Posts
| Quote:
Originally Posted by Tapioca Even detached houses in Surrey/Delta cost at least a half million. For an average upper middle class couple making a combined income of $150K year, that is still significant, particularly if you have to pay off student loans and have been unable to accumulate much in savings because you've been living away from home. You also have to factor in commuting costs over say 5-10 years. If you have to commute to Vancouver from Surrey, that costs you about 5 grand a year in insurance, gas, and maintenance.
Even if you could afford to buy a home for a half million, you're tied to a city with limited career mobility and a ceiling in terms of your income. No one would be too concerned if you could easily make 6-figure salaries after 10 years, but the problem in Vancouver is that most people top out at 6 figures. | Limited career mobility? Hundreds if not thousands, of people cross the Alex Fraser, Patullo Bridge everyday to head to their workplace in Vancouver. Is it that unreasonable to them? Even if you live by 152nd St and work in North Van, that's a 45 minute commute according to Google maps. Considering how people put up with Massey Tunnel, it doesn't seem as bad.
If you drive a 100km a day to work and back, that would only be around 7-8L in a Honda Civic making around 10 dollars for a daily work commute, not too bad considering people who take public transportation costs around 2000 a year (3 zone pass)
|
| |
05-20-2013, 10:35 PM
|
#592 | I STILL don't get it
Join Date: Aug 2006 Location: Vancouver
Posts: 468
Thanked 506 Times in 123 Posts
Failed 5 Times in 3 Posts
| Quote:
Originally Posted by Alpine Looking to move out within the next year or two and it is increasingly frustrating to see what people are willing to pay...
Apologies for the upcoming rant...
Checked out shoreline, the new development by polygon at Kent & Kerr in East Van. 2Bds start from 400 and run to about 550 (roughly $500/sqft), but strata fees are estimated to start at $0.38/sqft! That only covers heat, hot water, gas and the city water bill. Amenities will be restricted to a fitness room & a shared common lounge. The first phase was about 40% sold (most, if not all of the cheaper 2bds were taken) but I cannot imagine paying $360-400 a month in strata for those amenities. In comparison, the units at false creek that I've looked at were estimating strata fees at $0.35/sqft but that includes security, concierge and A/C in addition to covering heat, hot water and gas.
I've been following the alleged housing bubble and MOI/sales for the past year or so and my real estate outlook is quite bearish... but going out there and visiting some of the presale condos has me quite frustrated and confused. | was in your position this time last year and decided to rent. was frustrated as well and there are many perks to renting that have already been mentioned. looking to move into another area as my neighbours above are starting to get noisy as hell with their newborn.
|
| |
05-20-2013, 10:38 PM
|
#593 | Hypa owned my ass at least once
Join Date: Mar 2002 Location: Japan
Posts: 6,745
Thanked 1,314 Times in 540 Posts
Failed 124 Times in 79 Posts
| Quote:
Originally Posted by Geoc Even if you live by 152nd St and work in North Van, that's a 45 minute commute according to Google maps. | Sure, if you're commuting anytime past 10pm. In normal business/traffic hours, getting around from one end of Surrey to another is a close 30 (or more) minutes in itself.
Hell, before I moved out of Surrey, I had to budget an extra 30 minutes on my commute just to get on the Portman Bridge before the twinning. (i have no clue what it's like now)
|
| |
05-20-2013, 10:40 PM
|
#594 | OMGWTFBBQ is a common word I say everyday
Join Date: Apr 2001
Posts: 5,027
Thanked 2,538 Times in 1,155 Posts
Failed 81 Times in 54 Posts
| Quote:
Originally Posted by Geoc Limited career mobility? Hundreds if not thousands, of people cross the Alex Fraser, Patullo Bridge everyday to head to their workplace in Vancouver. Is it that unreasonable to them? Even if you live by 152nd St and work in North Van, that's a 45 minute commute according to Google maps. Considering how people put up with Massey Tunnel, it doesn't seem as bad.
| I was referring to Metro Vancouver, not Surrey.
|
| |
05-21-2013, 11:02 AM
|
#595 | I STILL don't get it
Join Date: Jan 2005 Location: Vancouver
Posts: 483
Thanked 186 Times in 56 Posts
Failed 19 Times in 6 Posts
|
Commuting and consuming 2-3 hours of my life (plus added stress that far, every day) is worth the extra money (~1K more per month in rent) I spend to live 5 minutes from work downtown. I used to live in coquitlam, and that was bad enough. I'm so much more relaxed when I get home.
Waiting patiently for the bubble and growing a down payment in the meantime.
__________________ 1992 Civic DX Hatch [daily]
1997 Integra Type-R [track] |
| |
05-21-2013, 11:10 AM
|
#596 | reads most threads with his pants around his ankles, especially in the Forced Induction forum.
Join Date: Mar 2004 Location: Vancouver
Posts: 10,645
Thanked 2,191 Times in 1,131 Posts
Failed 929 Times in 340 Posts
| Quote:
Originally Posted by N8 Commuting and consuming 2-3 hours of my life (plus added stress that far, every day) is worth the extra money (~1K more per month in rent) I spend to live 5 minutes from work downtown. I used to live in coquitlam, and that was bad enough. I'm so much more relaxed when I get home.
Waiting patiently for the bubble and growing a down payment in the meantime. | What if there is no bubble? |
| |
05-21-2013, 11:32 AM
|
#597 | Banned By Establishment
Join Date: Feb 2009 Location: bedroom
Posts: 3,112
Thanked 3,492 Times in 1,176 Posts
Failed 441 Times in 145 Posts
|
Delta is a great place to live. I grew up there and you can still buy lovely single-family homes for under well under $500k (not AT LEAST) not to mention 2 bedroom condos in the $200k range.
People always talk about commuting, but in reality, how many of you ACTUALLY work IN Vancouver let alone downtown Vancouver? I have never had a job in Vancouver (always been Surrey, Richmond, North Burnaby, and Maple Ridge).
Living in Delta for roughly 24 years, I never felt far away from things.
|
| |
05-21-2013, 11:39 AM
|
#598 | Willing to sell body for a few minutes on RS
Join Date: Mar 2002 Location: Victoria
Posts: 10,579
Thanked 5,017 Times in 1,853 Posts
Failed 185 Times in 100 Posts
| Quote:
Originally Posted by Mr.HappySilp What if there is no bubble? | I said fuck it and went for it. Just handed over my deposit last thursday.
House prices around here have already dropped considerably. The sellers I'm buying the house from are losing almost 70k from when they bought in 2010. So the time is right for me.
__________________
1968 Mustang Coupe
2008.5 Mazdaspeed 3
1997 GMC Sonoma ZR2
2014 F150 5.0L XTR 4x4
A vehicle for all occasions
|
| |
05-21-2013, 11:51 AM
|
#599 | Banned By Establishment
Join Date: Dec 2003 Location: New West
Posts: 3,998
Thanked 2,982 Times in 1,135 Posts
Failed 284 Times in 109 Posts
| Quote:
Originally Posted by Great68 I said fuck it and went for it. Just handed over my deposit last thursday.
House prices around here have already dropped considerably. The sellers I'm buying the house from are losing almost 70k from when they bought in 2010. So the time is right for me. | Out of curiosity, do you know why they are willing to take a 70k to move?
|
| |
05-21-2013, 12:36 PM
|
#600 | My homepage has been set to RS
Join Date: May 2005 Location: #604
Posts: 2,267
Thanked 2,454 Times in 813 Posts
Failed 146 Times in 72 Posts
| Quote:
Originally Posted by Alpine Looking to move out within the next year or two and it is increasingly frustrating to see what people are willing to pay...
Apologies for the upcoming rant...
I've been following the alleged housing bubble and MOI/sales for the past year or so and my real estate outlook is quite bearish... but going out there and visiting some of the presale condos has me quite frustrated and confused. | I have to agree with others. I don't know what your budget is, but if it isn't around $300-450k you won't be getting a 2 bedroom in Vancouver/Burnaby thats brand new. Typical 1 bedrooms I've seen are around the $235k mark, for a brand new development. (And don't forget, this will be for maybe 600 sq.ft.)
You can't have your cake and eat it. Lots of compromises have to be made.
__________________ Quote: [17-03, 09:23] Amuro Ray is it normal for my dick to have things growing on it? | Quote: [15-05, 13:34] FastAnna You guise are like diet coke and I am the mentos
[15-05, 13:34] FastAnna Incredible. How easy it is. | Quote:
Originally Posted by murd0c I'm scared of spiders... When I see one I toss my cats at it | |
| | | |
Posting Rules
| You may not post new threads You may not post replies You may not post attachments You may not edit your posts HTML code is Off | | | All times are GMT -8. The time now is 11:14 PM. |