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07-07-2019, 06:43 PM
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#14401 | | ninja edits your posts without your knowledge
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Originally Posted by SSM_DC5  Don't people generally go on vacation in the summer, which would mean buyers aren't around to buy if they're out of town.
I will admit, I did notice an influx of new listings right around first week of June compared to a few months prior. | People don't vacation for 3 months.
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07-08-2019, 10:58 AM
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#14402 | | My homepage has been set to RS
Join Date: Jun 2006 Location: Richmond
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thoughts on buying really old townhomes? i am looking for 2+bedrooms for under $650K in Vancouver/Burnaby areas but with that budget, they are all built in the early 80's
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07-08-2019, 11:08 AM
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#14403 | | RS.net, helping ugly ppl have sex since 2001
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They made good homes in the 80’s.
Your just going to get a closed layout and probably smaller windows. Like any place older then a few years, keep an eye on the stratas finances as well as any reports of the buildings condition.
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07-08-2019, 11:14 AM
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#14404 | | Willing to sell body for a few minutes on RS
Join Date: Jul 2001 Location: Cloverdale
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| Quote:
Originally Posted by CRS People don't vacation for 3 months. | Right? Lol, I find it hard enough to get away for a week during the summer.
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“The world ain't all sunshine and rainbows. It's a very mean and nasty place... and I don´t 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. That´s how winning is done. Now, if you know what you worth, go out and get what you worth.” - Rocky Balboa | |
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07-08-2019, 01:26 PM
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#14405 | | I have named my kids VIC and VLS
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Really old = built in the 80’s? Lol
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07-08-2019, 07:32 PM
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#14406 | | I contribute to threads in the offtopic forum
Join Date: Sep 2004 Location: Canada
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I took a bit of time to look up statistics to see how it compares to the things you guys have said in addition to the hearsay I got which lead me to the question i presented you guys.
I came across this site, which cites gvreb (from my search on that, should be reliable source) https://www.mortgagesandbox.com/burn...state-insights
There are graphs for 2017, 2018, 2019. For house, townhouse and condo, there is a distinct drop of purchases in July. If we take it a little further it drops Jul, Aug Sept before going back up a little.
Do we have different definitions of summer? Because i see summer as July Aug when kids have their summer vacations from school.
And yes, I do notice that Dec Jan is lowest out of the whole year. Is that what you guys mean by fall winter? Because I think of that as just winter.
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07-09-2019, 09:29 AM
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#14407 | | Need to Seek Professional Help
Join Date: Jan 2005 Location: Van
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All my realtor friends say may and june is the peak, and then it slowly begins to taper off until the following spring.
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07-09-2019, 09:54 AM
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#14408 | | I subscribe to the Fight Club ONLY
Join Date: Apr 2004 Location: BC, HK, USA
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June has been quite good; picked up a lot compared to the previous 6 months.
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07-09-2019, 11:01 AM
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#14409 | | I don't get it
Join Date: Jul 2001 Location: Parksville
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| Quote:
Originally Posted by Alpine All my realtor friends say may and june is the peak, and then it slowly begins to taper off until the following spring. | Yeah, this is what I've heard as well. Makes sense. Summer is when people are away on vacations and what not. Quote:
Originally Posted by 6793026 June has been quite good; picked up a lot compared to the previous 6 months. | Which is normal (as mentioned above -- peak is May and June). It's actually down compared to May though, and is trending downwards as usual.
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07-09-2019, 11:13 AM
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#14410 | | they call me the snowman
Join Date: Apr 2001 Location: online
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Originally Posted by 6793026 June has been quite good; picked up a lot compared to the previous 6 months. | Oh yeah?
Where did it pick up?
W.Van, where there were two sales?
Or Langley, where sales are down 65%?
Could you enlighten us here, or are you just fake news?
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07-09-2019, 04:25 PM
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#14411 | | RS.net, helping ugly ppl have sex since 2001
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Looks like Richmond is picking up for sure. Most of the places we've seen all had offers and was sold relatively quickly. Even the pieces of shits that we didn't like end up moving
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07-09-2019, 06:18 PM
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#14412 | | y'all better put some respeck on my name
Join Date: Dec 2002 Location: Vancouver
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Lol, only realtors and bankers will tell you the market is picking up...
As of July there were 2315 properties for sale in Richmond with an average list price of $1,387,549. In June 106 properties sold with 100 properties selling below list price and 4 above list.
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07-09-2019, 08:00 PM
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#14413 | | RS.net, helping ugly ppl have sex since 2001
Join Date: Oct 2016 Location: Ricemond
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Yeah for sure all of them were below asking but still they were moving. All the ones we saw are now gone ��
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07-09-2019, 08:14 PM
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#14414 | | i like gifs
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| Quote:
Originally Posted by twitchyzero but winter is also when people pull their listing off the market
and arent preapprovals only good for 90 days | TD does 120 days
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07-09-2019, 08:26 PM
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#14415 | | I have named my kids VIC and VLS
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| Quote:
Originally Posted by Harvey Specter Lol, only realtors and bankers will tell you the market is picking up...
As of July there were 2315 properties for sale in Richmond with an average list price of $1,387,549. In June 106 properties sold with 100 properties selling below list price and 4 above list. | And the west side is down somthing crazy like 30% with zero movement
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Dank memes cant melt steel beams
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07-09-2019, 08:52 PM
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#14416 | | I subscribe to the Fight Club ONLY
Join Date: Apr 2004 Location: BC, HK, USA
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| Quote:
Originally Posted by originalhypa Oh yeah?
Where did it pick up?
W.Van, where there were two sales?
Or Langley, where sales are down 65%?
Could you enlighten us here, or are you just fake news? | Yup, it picked up in the realm of the 4 different realty & realtor offices I was in.
Not going to throw out statistics on specific regions.
Within the circle of realtors (my family & relatives) as well as the realtors who are my friends, their current supply of (30M+) existing residential listings, 5 of them closed, from 1.8 M to 700k apartments, were all solid in June.
1 realtor also signed 4 new listings as well.
So within the demographics of realtors; when one realtor who only sold 2 listings from January to May and now in June, 3 transaction was done (just residential) + 2 commercial pending, June has been like light at the end of the tunnel. Not going to count the assignments but there were 2 also completing soon.
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07-09-2019, 09:21 PM
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#14417 | | Need to Seek Professional Help
Join Date: Jan 2005 Location: Van
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Been keeping an eye on detached in East Van, seems like there is decent buying support at around 15-20% below assessed.
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07-09-2019, 09:22 PM
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#14418 | | I WANT MY 10 YEARS BACK FROM RS.net!
Join Date: Oct 2007 Location: Vancouver BC
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so still 1.2M+ for a crack house
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07-09-2019, 10:11 PM
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#14419 | | RS.net, helping ugly ppl have sex since 2001
Join Date: Feb 2011 Location: Richmond
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| Quote:
Originally Posted by Badhobz Looks like Richmond is picking up for sure. Most of the places we've seen all had offers and was sold relatively quickly. Even the pieces of shits that we didn't like end up moving | Come lowball my neighbor. They’ve had their house for sale for well over a year, seem to refuse to lower the price. As long as you don’t BLAST Chinese soap opera’s 24/7 like they do with all the windows open
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07-10-2019, 12:47 AM
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#14420 | | My homepage has been set to RS
Join Date: May 2001 Location: New Westminster
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It moves in Delta as well. Houses are "reasonably" priced as it's still pretty close to South Surrey, Richmond, Burnaby, New West, South Van.
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07-10-2019, 08:08 AM
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#14421 | | Need to Seek Professional Help
Join Date: Jan 2005 Location: Van
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| Quote:
Originally Posted by twitchyzero so still 1.2M+ for a crack house | Probably down to < 1M for a crack shack teardown in East Van. Assuming your expectations aren't too high, you can find a decent, liveable house in east van for 1.1? Might be a smaller lot, no rear lane access, etc. Van specials are still fetching about 1.3.
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07-10-2019, 08:56 AM
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#14422 | | they call me the snowman
Join Date: Apr 2001 Location: online
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| Quote:
Originally Posted by Harvey Specter Lol, only realtors and bankers will tell you the market is picking up... | 
hahaha, good eye on that one. Quote: |
As of July there were 2315 properties for sale in Richmond with an average list price of $1,387,549. In June 106 properties sold with 100 properties selling below list price and 4 above list.
| The numbers don't lie.
There are 8516 listings in the Fraser Valley with an avg price of $753k, and a total of 1306 sales. That's 6 months worth of inventory sitting there, not moving. 3300 of those are long term, active listings.
Sellers want last year's pricing, while buyers want to pay next year's pricing. We're now in the midst of a market correction, aka crash.
The uber hot market in Langley had 76 sales last month with prices currently sitting 10% lower than they were at this time last year. That's a trend that makes me think that anyone buying real estate right now is throwing money away.
June 2017 had 234 active listings, and 171 sales in Langley with an avg price of $1,038,518. Equal to a half month's inventory.
Wow, things are sure picking up, aren't they?
The buyers probably listened to their realtors talk about Quote: |
June has been quite good; picked up a lot compared to the previous 6 months.
| Parasites.
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07-10-2019, 09:00 AM
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#14423 | | Willing to sell a family member for a few minutes on RS
Join Date: Apr 2011 Location: North vancouver
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I was talking to a realtor and he says now is the best time to buy he’s ever seen! He’s pretty sure the market will go up at least 10% next month. He told me to get in now or get left behind!
I mean, all the data in the world can’t be right if a realtor tells me it’s time to buy and the market is going well.
In other news I heard bitcoin is expected to make its biggest gains next week according to a bitcoin seller. Man I’m gonna be able to retire soon.
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Originally Posted by boostfever Westopher is correct. | Quote:
Originally Posted by fsy82 seems like you got a dick up your ass well..get that checked | Quote:
Originally Posted by punkwax Well.. I’d hate to be the first to say it, but Westopher is correct. | | |
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07-10-2019, 09:11 AM
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#14424 | | they call me the snowman
Join Date: Apr 2001 Location: online
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Originally Posted by westopher I was talking to a realtor and he says now is the best time to buy he’s ever seen! He’s pretty sure the market will go up at least 10% next month. He told me to get in now or get left behind! | Was it 6793026 you were talking to?
He knows realtors, you know. They sell things...
I wonder if they were involved in this sale? Quote:
1225 68 Smithe St
914 sq ft condo
Purchased in Sep/16 for $1.5M, $1.528M inc PTT
Listing History:
Mar/17: $1.78M
Jan/18: $2.28M
Mar/18: $2M
Apr/18: $1.89M
Aug/18: $1.698M
2019 assessment value $1.336M
re-listed:
Jan/19: $1.498M
Apr/19: $1.298M
Just sold for $1.25M
TOTAL LOSS on this CONDO including transaction costs is $315,000
If it sat empty for the last three years (most likely), you need to add in the carrying costs (interest, taxes, strata, etc) and they are looking at a cool half million in losses in under three years.
So tell me again, Mr. Realtor, about condos being immune from the real estate crash?
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07-10-2019, 12:16 PM
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#14425 | | Willing to sell body for a few minutes on RS
Join Date: Jul 2001 Location: Cloverdale
Posts: 11,573
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| Quote:
Originally Posted by originalhypa
hahaha, good eye on that one.
The numbers don't lie.
There are 8516 listings in the Fraser Valley with an avg price of $753k, and a total of 1306 sales. That's 6 months worth of inventory sitting there, not moving. 3300 of those are long term, active listings.
Sellers want last year's pricing, while buyers want to pay next year's pricing. We're now in the midst of a market correction, aka crash.
The uber hot market in Langley had 76 sales last month with prices currently sitting 10% lower than they were at this time last year. That's a trend that makes me think that anyone buying real estate right now is throwing money away.
June 2017 had 234 active listings, and 171 sales in Langley with an avg price of $1,038,518. Equal to a half month's inventory.
Wow, things are sure picking up, aren't they?
The buyers probably listened to their realtors talk about
Parasites. | I agree, if my subject offer ever completes I intend to rent for at least a year and see what the market does.
__________________
“The world ain't all sunshine and rainbows. It's a very mean and nasty place... and I don´t 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. That´s how winning is done. Now, if you know what you worth, go out and get what you worth.” - Rocky Balboa | |
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