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Vancouver Off-Topic / Current EventsThe 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.
Kinda crazy how a few people who have land assembled and sold out got stuck with 18 month subject removal and by the time the 18 months is up they can't even afford to buy anywhere near the same area anymore as the prices have gone up so much.
Kinda crazy how a few people who have land assembled and sold out got stuck with 18 month subject removal and by the time the 18 months is up they can't even afford to buy anywhere near the same area anymore as the prices have gone up so much.
And the people who purchased all the land just flip the assembly and make a nice profit rather than having to risk the build
400 pages and almost 6 years later, after the first post of worry regarding a "crash" Prices are 50%+ higher in some cases
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Dank memes cant melt steel beams
Kinda crazy how a few people who have land assembled and sold out got stuck with 18 month subject removal and by the time the 18 months is up they can't even afford to buy anywhere near the same area anymore as the prices have gone up so much.
People should never agree to sell for an assembly unless there's an official community plan which supports multi family on your block. There's so much speculative assembly happening in Vancouver right now. Yes, the city has said that they want to rezone all arterials, but zoning outside the context of an OCP takes years.
Toronto market is softening with a glut of new supply the last few months.
Issue with Vancouver is that supply is still near record lows, and with so many first time homebuyers in the market trying to buy a place, will Vancouver follow Toronto in the coming months? Do we have a glut of supply coming down the pipeline? Doesn't seem that way...
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Quote:
Originally Posted by Liquid_o2
Do we have a glut of supply coming down the pipeline? Doesn't seem that way...
We could, but that means developers risking profitability, so that won't happen. Theres plenty of land, plenty of opportunity to build but when so few developers own so much of the land, they might as well just keep the supply low to keep demand high.
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Originally Posted by boostfever
Westopher is correct.
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Originally Posted by fsy82
seems like you got a dick up your ass well..get that checked
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Originally Posted by punkwax
Well.. I’d hate to be the first to say it, but Westopher is correct.
Toronto market is softening with a glut of new supply the last few months.
Issue with Vancouver is that supply is still near record lows, and with so many first time homebuyers in the market trying to buy a place, will Vancouver follow Toronto in the coming months? Do we have a glut of supply coming down the pipeline? Doesn't seem that way...
Toronto's real estate is slowing down in a similar way that Vancouver slowed down after the implementation of the foreign buyers tax. Toronto also can expand outwards. People are used to long commutes in Toronto (2 hours plus), whereas people here refuse to commute more than an hour each way.
I imagine that once the impact of the Ontario's taxes and rent control is understood, the pace in certain housing types, like condos and semis, and attached homes will pick up again. If people aren't moving to Vancouver, they're moving to Toronto.
There's supply coming, but it seems to be held up in permitting and occupancy.
Quote:
Originally Posted by westopher
We could, but that means developers risking profitability, so that won't happen. Theres plenty of land, plenty of opportunity to build but when so few developers own so much of the land, they might as well just keep the supply low to keep demand high.
Developers may own land, but most of it is zoned under different uses. As we're seeing down in Chinatown, even when a developer wants to build something on dormant land, it can get held up due to public opposition. People also complained when the River District was sold. People in Vancouver seem to have a lot of time to protest.
Of course, you also get extreme examples of densification at the other end of the spectrum. Burnaby has no problems approving towers in Brentwood, Metrotown, or Edmonds. However, industrial land is being lost and low-income residents are being forced out.
There's actually little virgin Crown, non-ALR land left in Metro Vancouver. Burke Mountain is one area that flew under the radar and is developing fast. Other areas, like the Township of Langley, are rezoning and building as fast as they can.
Originally posted by v.b. can we stop, my pussy hurts... Originally posted by asian_XL fliptuner, I am gonna grab ur dick and pee in your face, then rub shit all over my face...:lol Originally posted by Fei-Ji haha i can taste the cum in my mouth Originally posted by FastAnna when I was 13 I wanted to be a video hoe so bad
There really isn't a lot of land to develop locally here. We're surrounded by ocean and mountains. People keep holding out hope that local RE will magically become more affordable. I'm sorry to break it to you, but I don't see it happening myself.
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If you drive like an asshole, you probably are one.
Quote:
Originally Posted by MG1
punkwax, I don't care what your friends say about you, you are gold!
There really isn't a lot of land to develop locally here. We're surrounded by ocean and mountains. People keep holding out hope that local RE will magically become more affordable. I'm sorry to break it to you, but I don't see it happening myself.
This argument's been used in San Francisco,a finance and tech hub with similar land "constraints" and real estate got squashed there during 2001-2003 and 2008-2010.
Before, you would enter, get greeted and there would be food and drinks served while you look around the displays and the showrooms.
But now, I was at the new pre-sale presentation for Joyce (to be built on top of Joyce Station). They have no food or drinks. They have no showrooms so you don't have a single clue as to what you are getting. The best part is that when asked why they didn't have any showrooms, they say they are so confident that they will sell out, there is no point in even having showrooms or anything. Just a brochure of what to expect.
Here is what is expected:
1 Bedroom: 437 Sq Ft. $500k Starting
No parking included for all units. Parking is $50k extra and only 2 bedrooms and above will qualify. 2 bedrooms are 731 sq ft (somewhere there?) and starting at 800k.
For those of you who live in a condo or used to live in one in Maple Ridge or Langley are there any buildings you would stay away from? At times I don't even have the ability to go over the strata documents to see what's been fixed up and what's needing to be fixed in the near future. Some of the listings I get sent to me are sold within days and I'm sometimes only able to see them on a weekend and I miss out on it. I don't want to live in a place that's going to be a money pit so is there any buildings you know of that are well worth keeping an eye on? I'd like to keep a little list to myself so I don't bother wasting my time going to a viewing that I won't be serious about.
Does anyone have a personal recommendation for a decently priced real estate lawyer?
Might be purchasing a presale this week (not Joyce), and I feel it would beneficial for a real estate lawyer to look over the contract.
just post it here and let Revscene's finest pick it apart!
if you can't find a lawyer, i think an experienced agent on your side should be able to do a review of the contract to provide a decent level of comfort. that is, after all, part of their job.
A buddies 1br loft in TO sold for 135k over asking a few months back, the realtor they had was somewhat inexperienced but even she had thought MAYBE 50-70 over based on the market at the time, ended up showing like 55 groups and having 12 offers by the second weekend. Stupid.
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Dank memes cant melt steel beams
That sounds like it was priced as a bidding war special. I'm sure it sold for more than it's worth, but not 125k more than it's worth.
Asking price means nothing. Comps are all that matters. Even then, 20-30k+ over comps can mean a lot of things - layout, location, condition, reno's, market, etc.
Originally posted by v.b. can we stop, my pussy hurts... Originally posted by asian_XL fliptuner, I am gonna grab ur dick and pee in your face, then rub shit all over my face...:lol Originally posted by Fei-Ji haha i can taste the cum in my mouth Originally posted by FastAnna when I was 13 I wanted to be a video hoe so bad
A buddies 1br loft in TO sold for 135k over asking a few months back, the realtor they had was somewhat inexperienced but even she had thought MAYBE 50-70 over based on the market at the time, ended up showing like 55 groups and having 12 offers by the second weekend. Stupid.
I can see it with lofts, because they're more unique and there usually isn't a huge supply of them.
Toronto's market seems premature compared to Vancouver. Even the agents aren't familiar with the multiple offer situations and dealing with china buyers..
Tough to find good value opportunities in Vancouver. Just about to finalize the purchase of another investment condo in Toronto downtown.
Can you blame developers for their pricing when the market for used homes is still crazy?
this guy is such a noob you can tell by the way he talks about the markets. Even as a realtor you should know its about the comps not about the asking price. If it goes that much over ask, you know its priced well below market. He also goes by charts and graphs which are one thing but as a realtor, you should also factor in the demand and foot traffic in open houses too. Man i would hate to be one of his clients..
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