REVscene - Vancouver Automotive Forum


Welcome to the REVscene Automotive Forum forums.

Registration is Free!You are currently viewing our boards as a guest which gives you limited access to view most discussions and access our other features. By joining our free community you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. Registration is fast, simple and absolutely free so please, join our community today! The banners on the left side and below do not show for registered users!

If you have any problems with the registration process or your account login, please contact contact us.


Go Back   REVscene Automotive Forum > Automotive Chat > Vancouver Off-Topic / Current Events

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.

Reply
 
Thread Tools
Old 08-22-2018, 06:39 PM   #12876
Orgasm Donor & Alatar owned my ass twice!
 
Traum's Avatar
 
Join Date: Aug 2007
Location: Paradise, BC
Posts: 6,967
Thanked 6,702 Times in 2,705 Posts
Failed 255 Times in 141 Posts
Not trying to suggest anything. Just sharing my impressions and personal experience.

When I was applying for mortgage, both the pre-approval and subsequent real approval took quite a long time. Maybe my situation was complicated, maybe it was the timing, or maybe it was just bad luck. Whatever it was, pre-approval must have taken 3 - 4 weeks with my mortgage broker. And then when we actually had a place in mind, the process took another 10+ days. It was both lucky and ugly that I had a 2 weeks subject to finance clause in my offer. Even though the seller had accepted our offer, we really couldn't confirm with them to remove subjects until almost the very last day. It was a stressful experience because everybody involved was concerned: I was told by my broker that we should be approved, but things just kept dragging on with one additional paperwork request after another. The seller was concerned because there were likely other (lower) offers coming in, and we still weren't able to deliver. Our realtors and my mortgage broker were obviously concerned because they were all so close to sealing the deal, but it felt like a moving target.

Good luck with the sale.

Quote:
Originally Posted by Nabatron View Post
well update #2 doesn't look like we are getting any offers today as per my realtor. Who knows things could change but he also said out of all his listings we are the ones that are getting any traction whatever that means. He has said our listing is getting calls everyday and no offers as of yet. It hasn't been a week yet but does suck just waiting...I guess the waiting game will continue!
Advertisement
Traum is offline   Reply With Quote
This post thanked by:
Old 08-22-2018, 08:02 PM   #12877
I subscribe to Revscene
 
DA9ve's Avatar
 
Join Date: May 2001
Location: Vancouver
Posts: 1,980
Thanked 181 Times in 66 Posts
Failed 42 Times in 9 Posts
Quote:
Originally Posted by Traum View Post
Not trying to suggest anything. Just sharing my impressions and personal experience.

When I was applying for mortgage, both the pre-approval and subsequent real approval took quite a long time. Maybe my situation was complicated, maybe it was the timing, or maybe it was just bad luck. Whatever it was, pre-approval must have taken 3 - 4 weeks with my mortgage broker. And then when we actually had a place in mind, the process took another 10+ days. It was both lucky and ugly that I had a 2 weeks subject to finance clause in my offer. Even though the seller had accepted our offer, we really couldn't confirm with them to remove subjects until almost the very last day. It was a stressful experience because everybody involved was concerned: I was told by my broker that we should be approved, but things just kept dragging on with one additional paperwork request after another. The seller was concerned because there were likely other (lower) offers coming in, and we still weren't able to deliver. Our realtors and my mortgage broker were obviously concerned because they were all so close to sealing the deal, but it felt like a moving target.

Good luck with the sale.

i had to jump through tremendous hoops to get my mortgage approved (just today actually lol) but i get ya, its not easy but thats why everyone throws subject to finance especially in a buyers market to protect yourself. i couldn't have fathom throwing down an offer on a detached house back in 2017-2016- maybe even 2015 with no subjects just to beat the cash offer from other bidders. although the pre approval should somewhat tell you the range of how much you can borrow. i just know once it gets down to the nitty gritty, the lenders start to scrutinize you like a thief before they are willing to approve your mortgage.
DA9ve is offline   Reply With Quote
This post thanked by:
Old 08-22-2018, 10:08 PM   #12878
Willing to sell body for a few minutes on RS
 
Great68's Avatar
 
Join Date: Mar 2002
Location: Victoria
Posts: 10,574
Thanked 5,014 Times in 1,850 Posts
Failed 185 Times in 100 Posts
Quote:
Originally Posted by Liquid_o2 View Post
Did we have the same parents?

Furthest my parents took us was camping on Vancouver Island or the Okanagan. They threw everything on the mortgage, paid off their house in 10 years or something like that.
Oh man, that's my childhood too.

We had a truck, second hand camper and dinky 16' boat.

We had 3 camping trips a year:

1) May long weekend: Egmont on the Sunshine coast

2) One Week in July: Up to a lake in the interior, usually Green lake but some other lakes every now & then

3) One Week in August: Fishing in Bamfield on Vancouver Island

Not once in my childhood did we go anywhere that required a plane or hotel.

I didn't mind, I didn't know any better and when we did go camping it used to be with a whole bunch of other Aunts & Uncles with cousins my age (usually a good dozen of us kids running amok in the campsites, parents usually just let us go wild).

Kind of sad that I won't be able to give my kid quite the same experience. I mean I plan to take him camping and fishing, but he won't have the dozen other cousins etc his age to go nuts and explore life with.

Funny thing is that NOW my parents are all like "we need to do a family trip to Mexico or something, bring Colin he'll have a great time" and I say "Yeah, if you want to pay for it!"
__________________
1968 Mustang Coupe
2008.5 Mazdaspeed 3
1997 GMC Sonoma ZR2
2014 F150 5.0L XTR 4x4

A vehicle for all occasions
Great68 is offline   Reply With Quote
Old 08-22-2018, 10:23 PM   #12879
GS8
I *heart* Revscene.net very Muchie
 
GS8's Avatar
 
Join Date: Oct 2013
Location: The Fruit Loops
Posts: 3,628
Thanked 7,520 Times in 2,038 Posts
Failed 173 Times in 83 Posts
Back in the day, a Safeway Produce clerk was making the same, if not more than a University professor. It's no wonder people were able to buy houses like cars back then. If you wanted a rental property, you just bought a second detached.

Most of the those yester-decade jobs are either gone from the GVRD or downgraded to $15 / hour which gets you the latest iphone plan with Fido under your mom's name.

__________________
Quote:
Originally Posted by GS8 View Post
When I think about ewe, I touch myself
GS8 is offline   Reply With Quote
This post thanked by:
Old 08-22-2018, 11:41 PM   #12880
#savethemanuals
 
Join Date: May 2008
Location: Richmond
Posts: 3,980
Thanked 2,551 Times in 950 Posts
Failed 106 Times in 40 Posts
Metro Vancouver real estate prices are 65% overvalued: Economist

https://www.vancourier.com/real-esta...ist-1.23401335
Energy is offline   Reply With Quote
Old 08-23-2018, 01:04 AM   #12881
G
Banned (BBM)
 
G's Avatar
 
Join Date: Sep 2009
Location: None
Posts: 3,136
Thanked 667 Times in 265 Posts
Failed 86 Times in 39 Posts
Quote:
Originally Posted by Nabatron View Post
^thanks my dude! yeah we aren't in a huge rush to move wife still has to work a few months for her matt leave starts. Somewhat disappointing on no offers but I guess still have to realize how the market is right now, also that it hasn't been on the market for a week as well. He said just to stay the course and not worry. The place shows well and is move in ready, just need someone the right person haha
Don't worry, I am sure everything will work out. I am in the same boat, my apartment has been listed for over a month now, one offer that fell through and single digit open house visitors every weekend. It kind of sucks because I still live in the apartment so I have to clean up and make sure everything looks nice. I am not in a rush to sell, but at the same time it would be great if it did sell so I don't have to worry or keep everything tidy....

Sad side-note: I also staged my own place by buying stuff from Winners and I just realized I passed the 30-day return policy I guess im stuck with a gift card till this place sells....
G is offline   Reply With Quote
This post thanked by:
Old 08-23-2018, 01:56 AM   #12882
I WANT MY 10 YEARS BACK FROM RS.net!
 
twitchyzero's Avatar
 
Join Date: Oct 2007
Location: Vancouver BC
Posts: 22,109
Thanked 9,871 Times in 3,926 Posts
Failed 881 Times in 421 Posts
Quote:
Originally Posted by Energy View Post
Metro Vancouver real estate prices are 65% overvalued: Economist

https://www.vancourier.com/real-esta...ist-1.23401335
my math can be off at 2am but a decent detached adjusted is still over 1M
still out of reach for almost every local
twitchyzero is offline   Reply With Quote
Old 08-23-2018, 09:32 AM   #12883
My homepage has been set to RS
 
Join Date: May 2011
Location: Langley
Posts: 2,297
Thanked 503 Times in 282 Posts
Failed 56 Times in 36 Posts
yeah he math with inflation doesn't make sense....obviously back in our parents day if they were making decent coin they could afford cheaper housing because well its a hell of a lot cheaper. The downside is the mortgage rates back then we crazy 18-20% but the house in general was a lot cheaper as well. But now houses are fucking way out of line on price and rates are a lot lower. People still cant afford to get places because peoples wage didn't increase through inflation.

I talked to one of my buddies yesterday he is married with 3 kids and lives/rents a basement suite. I was like fuuuuuuuuuck man that's crazy! He also said the suite is fairly large but even still. He is the only one working and the burden is all on him. The obvious downside is his job and most people jobs are down in the lower mainland. That is whats keeping him from moving out of here. The whole system sucks, your "decent paying job" is in the lower mainland so it pretty much requires you to live here or commute to work everyday for what exactly? to have a decent paying job so you can try and survive down here? I mean it sucks for a lot of people who want to get out but there job is dependent on living down here...
Nabatron is offline   Reply With Quote
Old 08-23-2018, 03:14 PM   #12884
My homepage has been set to RS
 
Join Date: May 2011
Location: Langley
Posts: 2,297
Thanked 503 Times in 282 Posts
Failed 56 Times in 36 Posts
update: had a showing today and have another one later today...plus got word have one more on Saturday lol...so far for the first showing my realtor said we may have an offer coming in! shits getting real!
Nabatron is offline   Reply With Quote
This post thanked by:
Old 08-23-2018, 03:38 PM   #12885
My homepage has been set to RS
 
Join Date: May 2011
Location: Langley
Posts: 2,297
Thanked 503 Times in 282 Posts
Failed 56 Times in 36 Posts
offer coming in tonight
Nabatron is offline   Reply With Quote
This post thanked by:
Old 08-23-2018, 03:41 PM   #12886
Proud to be called a RS Regular!
 
Join Date: Apr 2018
Posts: 113
Thanked 51 Times in 38 Posts
Failed 0 Times in 0 Posts
Goodluck! Great info for your realtor to tell the buyer realtor checking your home later
Acurapinoy is offline   Reply With Quote
This post thanked by:
Old 08-23-2018, 03:46 PM   #12887
RS has made me the bitter person i am today!
 
Join Date: Nov 2010
Location: /
Posts: 4,875
Thanked 2,584 Times in 995 Posts
Failed 253 Times in 72 Posts
Seems like the best solution is to become a software developer and work remote.
__________________


2022 Velo N
2005 S2000
2007 CSX Type-S [Sold]
2002 RSX-S [T-Boned]
Gerbs is offline   Reply With Quote
Old 08-23-2018, 03:46 PM   #12888
My homepage has been set to RS
 
Join Date: May 2011
Location: Langley
Posts: 2,297
Thanked 503 Times in 282 Posts
Failed 56 Times in 36 Posts
exactly! could bid each other up...that's if they like it as well!
Nabatron is offline   Reply With Quote
Old 08-23-2018, 04:16 PM   #12889
Orgasm Donor & Alatar owned my ass twice!
 
Traum's Avatar
 
Join Date: Aug 2007
Location: Paradise, BC
Posts: 6,967
Thanked 6,702 Times in 2,705 Posts
Failed 255 Times in 141 Posts
Quote:
Originally Posted by Nabatron View Post
offer coming in tonight
Great news! Regardless of the total number of offers you might be receiving, bear in mind that a good realtor can always do some off-record / unofficial negotiations for you with their counterpart. If I am understanding a realtor's typical practice correctly, the buying and selling realtors often perform additional unofficial probes or negotiations with each other in attempt to secure a "best offer" for their clients. All of this happens after an offer is made to purchase a property, but before any offer is accepted or rejected by the seller.

Esp given the current market conditions, this may or may not work in your favour. Nevertheless, esp if there are competing bids, your realtor can probably employ this tactic in attemt to squeeze an extra $5 - $10k out of the buyer.

On the flip side, the buyer might also employ the same tactic to probe your agent to see where your bottom line price lies. Ultimately, you're the one that makes the final decision on what price you're willing to accept, and whether you should follow your realtor's recommendations and/or market analysis.

Once again, good luck!
Traum is offline   Reply With Quote
This post thanked by:
Old 08-23-2018, 05:05 PM   #12890
My homepage has been set to RS
 
Join Date: May 2011
Location: Langley
Posts: 2,297
Thanked 503 Times in 282 Posts
Failed 56 Times in 36 Posts
offer came in lowball but will update u guys tomorrow to see what happens
Nabatron is offline   Reply With Quote
Old 08-23-2018, 05:53 PM   #12891
My homepage has been set to RS
 
Join Date: May 2011
Location: Langley
Posts: 2,297
Thanked 503 Times in 282 Posts
Failed 56 Times in 36 Posts
Hoping the people who are over like the place as well and want to put in an offer!
Nabatron is offline   Reply With Quote
Old 08-23-2018, 05:53 PM   #12892
Proud to be called a RS Regular!
 
Join Date: Apr 2018
Posts: 113
Thanked 51 Times in 38 Posts
Failed 0 Times in 0 Posts
How bad of a lowball was it? Was it RS style lowball?
Acurapinoy is offline   Reply With Quote
Old 08-23-2018, 08:17 PM   #12893
reads most threads with his pants around his ankles, especially in the Forced Induction forum.
 
Mr.HappySilp's Avatar
 
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 Nabatron View Post
offer came in lowball but will update u guys tomorrow to see what happens
I think most people will offer an lowball offer expecting the seller to reject the offer or negotiate a better deal. When I made my first offer I expect the seller to negotiate or reject it. It was a a lot lower than what I expect to pay.
Mr.HappySilp is offline   Reply With Quote
Old 08-23-2018, 10:57 PM   #12894
My homepage has been set to RS
 
Join Date: May 2011
Location: Langley
Posts: 2,297
Thanked 503 Times in 282 Posts
Failed 56 Times in 36 Posts
Update! Got an accepted offer they have one week to remove subjects....they have an accepted offer on their condo so everything is pretty much subject lol....didn't get exact offer on our place but pretty close in this type of market ...
Nabatron is offline   Reply With Quote
This post thanked by:
Old 08-23-2018, 11:21 PM   #12895
#savethemanuals
 
Join Date: May 2008
Location: Richmond
Posts: 3,980
Thanked 2,551 Times in 950 Posts
Failed 106 Times in 40 Posts
Congrats! Hope everything works out for you.
Energy is offline   Reply With Quote
Old 08-23-2018, 11:53 PM   #12896
Proud to be called a RS Regular!
 
Join Date: Apr 2018
Posts: 113
Thanked 51 Times in 38 Posts
Failed 0 Times in 0 Posts
Congrats nabatron. Hope that offer works out
Acurapinoy is offline   Reply With Quote
This post thanked by:
Old 08-24-2018, 07:05 AM   #12897
I have named my kids VIC and VLS
 
Hondaracer's Avatar
 
Join Date: Oct 2001
Posts: 37,742
Thanked 15,067 Times in 6,026 Posts
Failed 2,068 Times in 693 Posts
Nice, nice to get it over relatively quickly, congrats
__________________
Dank memes cant melt steel beams
Hondaracer is offline   Reply With Quote
This post thanked by:
Old 08-24-2018, 08:02 AM   #12898
My homepage has been set to RS
 
Join Date: May 2011
Location: Langley
Posts: 2,297
Thanked 503 Times in 282 Posts
Failed 56 Times in 36 Posts
Thanks guys! Hopefully subjects removed and then everything works out
Nabatron is offline   Reply With Quote
Old 08-24-2018, 08:06 AM   #12899
Willing to sell body for a few minutes on RS
 
quasi's Avatar
 
Join Date: Jul 2001
Location: Cloverdale
Posts: 11,574
Thanked 3,781 Times in 1,345 Posts
Failed 83 Times in 42 Posts
I spoke to one realtor on Wednesday meeting another one today. After speaking with the first one some of the stuff he said made a lot of sense.

I have one of the Clayton specials 3 levels, 5 bedrooms 2650sf basically designed to have the owner live top two floors with a 2 bedroom suite in the basement. We bought new and have never had a suite but the basement is wired for it, there is plumbing, a 240 in the wall and venting downstairs if you wanted to add washer/dryer.

The way the lending has been tightened up most the people looking in our area are obviously looking to buy a place with a suite and most of them are tapped. Not having one makes my home not nearly as desirable and ultimately harder to sell. If I want to sell I pretty much have to put the suite in which honestly isn't that big of a deal I figure it will cost me $10,000 at the most if I do it myself I just need to install cabinets, sink and appliances. The return I'll get will be greater then the cost of putting it in. The one good thing is if I was putting a suite in to rent it out myself well living there I'd do sound proofing ripping all the ceilings apart adding more expense but if it's more for staging and a selling feature fuck it, just paint and add kitchen.

The realtor showed me the inventory in the area, how long it's sitting right now and it's very competitive. Stuff isn't really selling so I think if we move forward we'll do the suite over the fall, list in the spring. I think that would also give the market more time to correct itself with the way inventory is moving or maybe I should say isn't moving, yes less for ours but since we're upgrading less for what we'd be looking to buy.
__________________



“The world ain't all sunshine and rainbows. It's a very mean and nasty place... and I donīt care how tough you are, it will beat you to your knees and keep you there permanently, if you let it. You, me or nobody, is gonna hit as hard as life. But ain't about how hard you hit... It's about how hard you can get hit, and keep moving forward... how much you can take, and keep moving forward. Thatīs how winning is done. Now, if you know what you worth, go out and get what you worth.” - Rocky Balboa

Last edited by quasi; 08-24-2018 at 08:12 AM.
quasi is offline   Reply With Quote
This post thanked by:
Old 08-24-2018, 08:21 AM   #12900
My homepage has been set to RS
 
Join Date: May 2011
Location: Langley
Posts: 2,297
Thanked 503 Times in 282 Posts
Failed 56 Times in 36 Posts
Yeah with the amount of inventory out on the market and with only one offer that came in for us we decided to pull the trigger. I mean we didn't get what we were asking for but was close enough. The market right now is slow and my realtor said mine was the quickest to be offered anything that he has. I mean we could have took a gamble and waited for another offer but with the market the way it is we decided not to. Say if we waited and got no offered then we would have to reduce the price anyways. All in all we its still a waiting game with them removing their subjects.
Nabatron is offline   Reply With Quote
This post thanked by:
Reply


Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off



All times are GMT -8. The time now is 04:18 AM.


Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2024, vBulletin Solutions Inc.
SEO by vBSEO ©2011, Crawlability, Inc.
Revscene.net cannot be held accountable for the actions of its members nor does the opinions of the members represent that of Revscene.net