renting used to make sense 5 years ago before prices caught up to existing mtg payments...1500 for a shoebox in the burbs...no sir

we'll find out soon? NAFTA might make or break us

I would only buy a home if your stable career is less than a 30 minute commute.
Seems like you don't really know what the future holds yet.

If I lived out of town, and really wanted to invest in some real estate i'd look into somewhere like Maui, or somewhere with a stable economy. A lot of money has been made in Vancouver but it's still a risk. Vacation spots take big hits in downturns but the rental income is massive if you pick the right spot. Maui is probably pretty high right now but there has got to be some better spots then Vancouver. Montreal has just started to see some price increases over the last couple years. It's still very reasonable and is a world class city. My own thoughts at least.

good family friend has a beautifull place in Waileia (sp) from what ive heard the RE market there sounds unstable af

also virtually impossible to get lending done in the states without citizenship or like 75% down

the wife and i were looking at belize.
very cheap property. beautiful waters. english first language. and a relatively stable government.

Isn't Belize pretty bad crimewise?

Great layout - I like the Nelson buildings at MET and did well on those presale. Had one myself too. Some follow up pro opinion from a realtor perspective:
- less hallways - no one spends time here, wasted footage for most part - some 2/3 bedrooms are terrible for that with tons of long hallways
- U shape generally is more popular but L shape has merits too in space saving. You'll find larger units generally shy away from L shaped or at least add an island where it serves as both as a high table/gathering point/hangout and bar area.
- separated bedrooms. Side by side layouts = not the best for sound proofing... use your imagination :fullofwin:
- western exposure - in non AC building like MET 1 - western exposure units were hot AF after 6pm. Stuffy! Remember hot air rises up and in concrete/glass type structure there's no where for the hot air to go but... UP.

https://i.imgur.com/X3NyfiWh.png

This layout is starting to grow on me now that I've done my walkthroughs. I wish the closets were a little larger, and the ensuite shower not so small.

Bit of a presales update - been busy hustling some assignments flipping last week.
VIP Presales event of the week was Onni's highly anticipated SOLO 3 Phase.

Mid height at 40 odd stories, priced well and only 20% deposit. likely 2% fee and considering BOSA Appia name, pretty solid offering right on Willingdon & Lougheed.
Considering $1200/ft standard set by Concord across the street - this is a relative bargain for a developed community, shopping right below and across from Amazing Brentwood. Better than Lumina and likely GP too.

Price here. Writing starts next week.
https://image.ibb.co/erYfBn/unnamed_178.jpg
https://image.ibb.co/f0D2P7/unnamed_179.jpg
https://image.ibb.co/go3QcS/unnamed_180.jpg

Can someone breakdown a "form J" for me?

I'm not sure if I'm interpreting it right.

Developer's rental disclosure form which will set precedent for rental restrictions for strata units until it is amended.

Any Form J filed before 01.01.2010 means all strata units allowed for rental remains eligible regardless of rental restriction bylaws UNTIL the original owner transfers title (sells it) or the expiry date on the Form J is reached, whichever is earlier. Subsequent purchasers may or may not be able to rent out their unit depending on whether rental bylaws are in place.

Any Form J filed 01.01.2010 and later, all strata units specified for rental can remain eligible as noted on the form (usually 99 years) as a rental regardless of subsequent rental restriction bylaws. It preserves the right for subsequent purchasers to be able to rent out their unit within the rental period date.

This normally is brought up for new construction or newer builds. Basically, unless noted on Form J by the developer, there will be no rental restrictions on units until the date on it expires.

http://liveinvictoria.com/listings?listing_id=30718

So condo listed Thursday and have 7 viewings done or booked. One is a second viewing Saturday. One realtor wants a heads up if any early offers come in ahead of Tuesday when we plan to view all offers.

Seems like a decent start but I don't know how many viewing usually turn into offers.

It's pretty much all in the city. And mainly gangs against each other. The rest of the country isn't bad from what I've heard.
But yeah. It is in Central America lol

Has anyone gotten a mortgage or locked in a rate recently? What kind of rate did you get? We were locked in at 3.19% but our presale might not be ready in time and we looking at 3.24% if we lock in again. Does this sound about right currently?

I asked my lawyer what the going rate was when I completed in February. He said average was 3.24%. I had locked in prior at 3.04% and he said he has only seen one rate better at that point. I don’t think rates have gone up since so your probably on par.

By "locked in", you mean the rate for a fixed rate mortgage, right? Scotia and Tangerine are both offering 3.24% for a 2 year closed term. HSBC was advertising 2.99% for 4 yrs fixed closed term, but I think HSBC is super, super picky about who they approve.

nice view of metrotown/baker from the current solo towers, i'm guessing this last one will block that view and vice versa for the downtown/north shore view? SeemsGood

Yeah 5 year fixed rate

You are right not only is HSBC super picky their customer service is crap. Is like they don't even want business from you if you don't speak Chinese and you need to be wealthy lol.

i got 3.08% 5 yrs fixed in December before the stress test. I was very very lucky in getting an accepted offer a week before my rate hold expires and it's my first time buying too. in case i didn't get the unit i wanted, i discussed with my mortgage specialist and he quoted 3.29% 5 yrs fixed but I'm sure i could get it down to 3.24% for 5 yrs fixed floor rate. apparently without the floor rate it's going for 3.4% (those who aren't doing their research and going by whatever the bank says). so that's the rate i know that's out there right now.

edit: this is for TD

Been in contact again recently with my mortgage specialist from TD and he gave me these current rates.

Get rates from mortgage brokers. Take that rate to a bank, and they will knock off another .1 from the broker rate to get your business.

Banks offered me X.65 a year ago, I told them I got X.55 from broker, then I got in for X.45 with the bank.

that's 600$ savings a year on a 300k loan.

Recently got mortgage for our own unit from HSBC. 2.89% in Nov 5 yrs fixed when most big banks were offering 3.20%+. Large enough difference we went with their overly complicated qualification. We did get a W\waived home inspection & conveyance fee ($1500 value) as some special package. But yes they did push hard on Premier Service account where you needed $100K balance just to get going.

I did go Wwent with TD before and got a sweet Var 5 yr closed, but like most in the business I've buttoned down on the risk profile esp with the way things are trending in NA/world with rate hikes. I suspect we will be closer to 4% in 2 years than at 3% so nice time to lock it down. So far it looks like it was a good call.

When I was a banker years ago with a big four, I recall HSBC had the most stringent qualifications. This was when CIBC and TD had aggressive equity mortgages (30-35%+ down and self declared mortgages), even with those HSBC wanted decent credits and reasonable A/L balance sheets.

For those shopping around for mortgage - never hurts to check with mortgage brokers. Unlike bankers, they don't have a salary and cushy office so they have to hustle for your business, whether its from a major 5 bank or from a second tier B lender etc. I've sent clients to mortgage brokers who got better rates than bankers did at their own firms. Also they are able to get some cash back on some occasions which they may be able to help out clients. I'd be happy to refer good brokers that some also do private lending now. HTH.

What are the best rates available now? I got under 3% @ 5 yrs for HSBC and 3.14% for the same duration under Rbc, however both are expiring in less than a month. Seems the next best posted rate is 3.19 @ HSBC. If anyone is getting better than this right now can you share?

Accepted an offer of 310k today subject to financing. Subject comes off Apr 20th. Young teacher with co sign from parents.

We had a bully offer of 305 yesterday (listed at 299,900) We had no more showings lined up and there was no sign other offers would come in Tues. We countered at 312,500 and they countered at 310k. We accepted.

Pretty happy given the market is slowing down over here. If you are a buyer be patient.