Jack FM plays day and night in my garage. This song gets played every day I’m sure. I laugh each time.

Yea whenever I hear it I laugh as well. The irony of thinking back to when a million dollars seemed like tonne of money :(

The crazy thing is, it's still a ton of money.
If you had a million bucks fall into your lap today, it would change your life. Not in a way that means you could retire and buy a private jet, but invested properly a million dollars is still worth about $80k a year in interest and dividends. Spend wisely, and it would last a long time.

Not sure about that. Most people who won the lottery actually end up wasting all their money and is actually in a worse spot then if they didn't win the lottery.

That only proves that some people don't deserve that kind of money to begin with. If you get a million dollars and somehow end up losing it all with nothing to show for it then you're just stupid.

can't take it with you when you die, so

Oh I don’t disagree. But back when that song came out people were buying houses for 200k and living good, productive lives with average day jobs and not really worrying about where their next meal is gonna come from

Fast forward to the present day and a lot of those same people who would be listening to the song when it came out magically had million+ dollar homes under their feet and struggling wit taxes etc

When that song was around a million might have well been the 50 mill lotto max to me.

Fliptuner you are going to love being so close to the elementary school. When my kids went to Castle Park school it was awesome just being able to get them ready 10 minutes before school and walking them over across the street. I am not sure if you have heard but they are opening up a new water splash park in Castle Park this summer....it should be great for your daughter!

I have been watching the prices of houses around here and it seems the prices are down about $100,000 from their peak in the summer of 2017. Who knows where prices will go but at least they are down from 2017 and 2018 prices.

I am not sure why anyone would tell hud 91gt to avoid Citadel Heights but after living here for 20 years we think it is great with lots of friendly neighbors and families with young kids. Since Citadel Heights is on a hill there are also lots of great views from many of the parks and houses.

I could've bought a house in Lower Maryhill but for the sake of the family and more monthly cashflow, we bought a TH up the street from the school. Low strata, good complex and we can still afford vacations, entertainment, toys. Castle is always recommended by my teacher friends and the park is top notch.

From complex entrance, I can watch her walk right to the entrance of the school. It's awesome.

Except money earned on interest is taxed at 50% and you throw in another 2% for inflation and you'd be at near poverty level.
Better fund them social programs.

https://www.cbc.ca/news/canada/briti...-age-1.5113115

People are having fewer children because of high housing costs according to the academics.

I'd believe it, we only had one due to the cost of daycare. It's one of my biggest regrets, should have done it anyway but now that my son is turning 13 next month I'm not ready to go back to the diaper stage at this point.

I have two dogs, I swear sometimes their almost as much work as my son was as a baby. Such a pain in the ass when you're trying to sell your house and one dog keeps eating the house not to mention having to get them out for 1-3 hours for every showing or open house.

Listed my house... realtors really need to get more creative... so far they all seem to be very reactive as in.. .'waiting for a call'. anyways, hope it sells -- i've only signed on with this specific realtor for 2 months - i even had to tell him to 'enhance' the realtor.ca listing description...sheesh. he missed things like air conditioning, radiant floor heating, etc etc.

Hey just curious as to how the market is doing now? Is there generally still a big appetite for new 1 bedroom condos in the 400-450k range for locations such as coquitlam / new west?

Starter condos still have a lot of demand. There has been a small correction, but nothing has dropped substantially until you get to detached. Supply is high, but people are waiting in the woodwork to buy in.

Not sure about condos but homes in my area "Cloverdale" down at least 10% in the last year. With the spring it's getting busier but stuff isn't getting snapped up.

I listed my house last Wednesday I believe, I've had probably a dozen private showings and another 20+ views through open houses. I had one offer day 2 which was a good offer we just couldn't agree on a possession date so it fell apart, they wanted 30 days and I wasn't working with anything less then 2 months.

I had another offer on Friday, not a good offer as it was low and they hadn't sold their home yet and wanted it contingency to that with no out clause for me, I wasn't going to tie up my house 1 week into the listing with the amount of action we've had so didn't even counter.

Same people came back yesterday with another offer contingent on selling their home but they gave us the 48 hour out if we get another offer and it was full ask, they also have to do their inspection in the next 12 days so assuming they sell their house end of May or something inspection BS will already be dealt with. That one was an easy yes, hope they sell their house but if someone else comes along ready to move on my house I'll entertain that as well.

I have the attitude that I'd like to sell but I want my number. If I don't get my number I'll take it off the market and renovate, re-evaluate in a couple years. My wife really wants to move but I'm content either way.

Most of the detached homes we're looking at have been sitting, they aren't selling and I think it's due to them not having (able to put) suites in them making it hard for people without a lot of equity to even consider buying them. If we're lucky enough to sell we should have 80% down so the stress test shouldn't be a problem for us.

Thanks for the detailed response Quasi!

Wow that seems like a great turn out considering you only listed last Wednesday and have gotten offers. That's pretty incredible for detached. I hope it all works out for ya!

If anyone has any info on the condo market, specifically 1 bedrooms outside of Vancouver/Burnaby that would be great. The vancouver/bby markets are just too expensive and I'm looking for more consumer data or themes within the coquitlam to new west region.

ahh okay. This is good. Looking to offload my starter condo and wanting to feel out what the market is like. When you mentioned supply is high are you referring to starter condo's or detached homes that are sitting on the market?

Are people still generally MORE interested in pre-sales now? Or are they pretty receptive to new builds sub 2 years old, ect.

Realtors are going to start to starve. Stick to one that has been in the business 20+ years. The newbies only knew the good times, and run their business as so.

People I would say are looking less into pre-sales. Since I can pick up a slightly used few year old condo for less than what I'm paying for a pre-sale few years down the road so the premium and uncertainty isn't worth it, unless you can't come up with the cash now. Market for the lower end stuff is still hot unless your place is beat up. From what I see most will get offers within one or 2 weeks. However I do still see people walking out of accepted offers.

That makes sense! When you mention people walking out of accepted offers -how does that work? If an offer is accepted isn't a deposit of some sort required ? (What is the deposit percentage anyways) Are people forfeiting their deposits?

I am new to this so forgive my ignorance. :)

Supply, realistically, is high on everything compared to most times over the last 10 years. Things still seem to sell quickly though when priced right, and entry level. To be fair though, I'm only interested in Vancouver/north van so it could be very different elsewhere.
I pay attention to home prices, as I still have the dream alive even though its fucking ridiculous, however, 1.2/3 gets you what 1.6 would have 1.5-2 years ago, at least as far as list prices go.

Accepted offer is a temp contract made out between seller and buyer, usually this is a 7 day period where buyers have to finalize their financing, inspection etc. The deposit isn't paid till the end of subject removal, this is when the contract is firm. After the 7 days and the buyer decides to go through with the deal. The buyer can always walk away within the 7 day period if they put the correct subjects.

That's not how taxes work, it gets added to your taxable income. That doesn't mean you get taxed marginally at 50% :badpokerface:

More or less :)

An accepted offer can still have conditions to the deal.

Accepted offer for $300K for 1BR condo for example...subject to:
1) buyer securing mortgage by ___ (date) for no more than 4%
2) inspections by ___ (date)
3) reviewing and approving strata docs, contingency funds, etc, ___ (date)

Should any of the conditional reviews not pan out or buyer isn't satisfied, no damage no harm for walking from the deal.

Also, deposit ($10-50K) simply just shows sincerity of the deal, and is held in trust by the buyer realtor firm anyhow. That's fully refunded if deal collapse.

This is why when market's hot, no condition offers are hard to beat. It's like buying a car just from looking at the surface and not even test driving it!