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 01-04-2020, 11:08 AM   #15176
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
Maybe part of the reason why insurance for apartments have gone is due to international students or new immigrations not knowing how things work in Vancouver?

In my pervious (Apartment was completed in 2017, move in July 2017 in Burnaby) Within a year there was already 3 times of major damage (maybe 4) Is all due to people not knowing how the sprinkler system works.

1st time 32 or 33rd floor someone though the sprinkler was used to hang clothes so she hang her clothes on it and BAM sprinkler went off flooded all the way to 12 floor over 20+ units were affected some need major reno coz of water damage.

2nd time Someone was cooking and I guess it caught on fire fire something and I guess they didn't put out the fire on time and sprinkler went off again. Not sure how many units was affected but it was pretty bad.

3rd time a bunch of international students rented a 2 bedroom apartment and I guess one of the bookshelf they had was too tall so it hit the sprinkler when they try to move it and sprinkler went off. Damage I think was 8 to 9 floor. Again major damage and people have to move out when reno was being done.

This is all within a year in a brand new building. There should be a policy/law if you are too stupid/dumb/do dumb things that cause major damage you should be 100% liability for all the damage not the strata. Strata can't fix stupid.
Advertisement
Mr.HappySilp is offline   Reply With Quote
This post thanked by:
Old 01-04-2020, 12:23 PM   #15177
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
Quote:
Originally Posted by mr00jimbo View Post
Now his assessment has gone from 500 to 467. I wonder if I should contact him again and see if they would consider my offer now. I don't need to be friends with the guy, I just think his place is perfect for what I want. But i have a limit to what I can spend, and if it was such a good price, why would it be on the market for so long?
Which unit is this? Imagine you offend him again by offering listing price
__________________


2022 Velo N
2005 S2000
2007 CSX Type-S [Sold]
2002 RSX-S [T-Boned]
Gerbs is offline   Reply With Quote
Old 01-04-2020, 12:41 PM   #15178
Need to Seek Professional Help
 
Join Date: Jan 2005
Location: Van
Posts: 1,048
Thanked 542 Times in 291 Posts
Failed 27 Times in 15 Posts
Quote:
Originally Posted by Mr.HappySilp View Post
Maybe part of the reason why insurance for apartments have gone is due to international students or new immigrations not knowing how things work in Vancouver?

In my pervious (Apartment was completed in 2017, move in July 2017 in Burnaby) Within a year there was already 3 times of major damage (maybe 4) Is all due to people not knowing how the sprinkler system works.

1st time 32 or 33rd floor someone though the sprinkler was used to hang clothes so she hang her clothes on it and BAM sprinkler went off flooded all the way to 12 floor over 20+ units were affected some need major reno coz of water damage.
A renter at my mother in law's building did this. They hung clothing off the sprinkler head and set it off. Did you happen to live in Met 1?
Alpine is offline   Reply With Quote
This post thanked by:
Old 01-04-2020, 12:53 PM   #15179
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 Alpine View Post
A renter at my mother in law's building did this. They hung clothing off the sprinkler head and set it off. Did you happen to live in Met 1?
Met 2.
Mr.HappySilp is offline   Reply With Quote
Old 01-04-2020, 01:13 PM   #15180
Willing to sell body for a few minutes on RS
 
Jmac's Avatar
 
Join Date: Aug 2004
Location: Duncan, BC
Posts: 10,127
Thanked 5,568 Times in 2,107 Posts
Failed 231 Times in 90 Posts
Quote:
Originally Posted by underscore View Post
That's how it was always explained to me, and logically it makes sense. Though unless the total tax amount the city wants is identical to last year the actual taxes you pay might not be down 8% and 3%. It sure would end a lot of confusion if it just said that on your property taxes.
https://info.bcassessment.ca/propertytax
Jmac is offline   Reply With Quote
This post thanked by:
Old 01-04-2020, 09:06 PM   #15181
I *heart* Revscene.net very Muchie
 
Join Date: Jun 2002
Location: Vancouver
Posts: 3,688
Thanked 627 Times in 358 Posts
Failed 20 Times in 17 Posts
Quote:
Originally Posted by Mr.HappySilp View Post
Maybe part of the reason why insurance for apartments have gone is due to international students or new immigrations not knowing how things work in Vancouver?

In my pervious (Apartment was completed in 2017, move in July 2017 in Burnaby) Within a year there was already 3 times of major damage (maybe 4) Is all due to people not knowing how the sprinkler system works.

1st time 32 or 33rd floor someone though the sprinkler was used to hang clothes so she hang her clothes on it and BAM sprinkler went off flooded all the way to 12 floor over 20+ units were affected some need major reno coz of water damage.

2nd time Someone was cooking and I guess it caught on fire fire something and I guess they didn't put out the fire on time and sprinkler went off again. Not sure how many units was affected but it was pretty bad.

3rd time a bunch of international students rented a 2 bedroom apartment and I guess one of the bookshelf they had was too tall so it hit the sprinkler when they try to move it and sprinkler went off. Damage I think was 8 to 9 floor. Again major damage and people have to move out when reno was being done.

This is all within a year in a brand new building. There should be a policy/law if you are too stupid/dumb/do dumb things that cause major damage you should be 100% liability for all the damage not the strata. Strata can't fix stupid.
Afaik strata insurance covers common property and building only. Individual units have to have their own water damage coverage. For our building if someone is found responsible for starting water damage to the building and affecting other units they will have to cover the strata $25k deductible.
6thGear. is online now   Reply With Quote
Old 01-04-2020, 11:06 PM   #15182
RS.net, helping ugly ppl have sex since 2001
 
Badhobz's Avatar
 
Join Date: Oct 2016
Location: Ricemond
Posts: 9,190
Thanked 10,689 Times in 3,836 Posts
Failed 478 Times in 242 Posts
so is it a bad deal in this current market if you purchase a house at assessment or slightly above it?
Badhobz is online now   Reply With Quote
Old 01-04-2020, 11:17 PM   #15183
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 6thGear. View Post
Afaik strata insurance covers common property and building only. Individual units have to have their own water damage coverage. For our building if someone is found responsible for starting water damage to the building and affecting other units they will have to cover the strata $25k deductible.
But even when the owner responsible for causing the water damage is the one that pays up for the whole strata deductible, a strata insurance claim is still made to the insurance corp. And then the next year when renewal comes around, the strata is still going to be hit with a rate hike (because they made a claim).
Traum is offline   Reply With Quote
Old 01-04-2020, 11:52 PM   #15184
I *heart* Revscene.net very Muchie
 
Join Date: Jun 2002
Location: Vancouver
Posts: 3,688
Thanked 627 Times in 358 Posts
Failed 20 Times in 17 Posts
Quote:
Originally Posted by Traum View Post
But even when the owner responsible for causing the water damage is the one that pays up for the whole strata deductible, a strata insurance claim is still made to the insurance corp. And then the next year when renewal comes around, the strata is still going to be hit with a rate hike (because they made a claim).
Yes. Very true. But it kind of puts part of the responsibility onto the owner as well to know they can be on the hook for such a large deductible
6thGear. is online now   Reply With Quote
Old 01-04-2020, 11:58 PM   #15185
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 Badhobz View Post
so is it a bad deal in this current market if you purchase a house at assessment or slightly above it?
For a primary residence, I would say it is still a good deal if you like the house enough to make it your home.

A few years ago when we wanted to upsize from our tiny 2-bedroom unit, we got outbid by the other buyer by $10k. The wifey and I really liked that larger unit we made the offer on, but at the time, I wasn't too comfortable with splurging that extra $10k+ for the higher bid. But later on when I looked back at my outbidded offer, even if I offered $20k over, it would only have been an extra $4 - 5k per year if we stay there for 4 - 5 yrs.

We liked the place, but I just didn't know how to play the game well enough. I told myself not to make that mistake again.
Traum is offline   Reply With Quote
This post thanked by:
Old 01-05-2020, 02:22 AM   #15186
Need to Seek Professional Help
 
Join Date: Jan 2005
Location: Van
Posts: 1,048
Thanked 542 Times in 291 Posts
Failed 27 Times in 15 Posts
Quote:
Originally Posted by Badhobz View Post
so is it a bad deal in this current market if you purchase a house at assessment or slightly above it?
You buy/sell houses baed on comparables. Ie If you and your neighbour have identical houses and they sell theirs for 1.5, then if you pay more that's could be seen as bad, pay less thats good. Dont look at assessments for what the house is "worth."
Alpine is offline   Reply With Quote
This post thanked by:
Old 01-05-2020, 12:23 PM   #15187
y'all better put some respeck on my name
 
Harvey Specter's Avatar
 
Join Date: Dec 2002
Location: Vancouver
Posts: 18,408
Thanked 9,464 Times in 2,439 Posts
Failed 393 Times in 159 Posts
Quote:
Originally Posted by Badhobz View Post
so is it a bad deal in this current market if you purchase a house at assessment or slightly above it?
It depends on buyer trends moving forward. Over the past few years assessments didn't mean much because everything was selling way above. Now it seems like buyers are more concerned about assessments and sellers will have to adapt and be willing to sell at or near assessment.

The thing you have to consider is assessments might go down further next year, if this happens expect prices to follow. If you're buying for long term this shouldn't matter as much because prices will eventually start trending up but if you're buying to flip in a few years assessments are going to play a bigger roll when selling so buy accordingly.
Harvey Specter is offline   Reply With Quote
This post thanked by:
Old 01-05-2020, 09:46 PM   #15188
Need to Seek Professional Help
 
Join Date: Jan 2005
Location: Van
Posts: 1,048
Thanked 542 Times in 291 Posts
Failed 27 Times in 15 Posts
Does anyone have any experience living in Delta (specifically the Sunshine Hills area)? Is it a great place to start a family?
Alpine is offline   Reply With Quote
Old 01-05-2020, 10:00 PM   #15189
Waxin’ Punks
 
punkwax's Avatar
 
Join Date: Jun 2006
Location: South Surrey
Posts: 7,203
Thanked 6,087 Times in 2,103 Posts
Failed 215 Times in 113 Posts
^lived near there growing up and I’d say yes. Nice neighbourhoods around the watershed.
__________________
If you drive like an asshole, you probably are one.

Quote:
Originally Posted by MG1 View Post
punkwax, I don't care what your friends say about you, you are gold!
Quote:
Originally Posted by mikemhg View Post
What do your farts sound like then?
punkwax is offline   Reply With Quote
Old 01-06-2020, 07:02 AM   #15190
I *heart* Revscene.net very Muchie
 
Join Date: Nov 2004
Location: vancouver
Posts: 3,668
Thanked 761 Times in 384 Posts
Failed 150 Times in 49 Posts
got my assessment, down 11%

single family, coquitlam center area
blkgsr is online now   Reply With Quote
Old 01-06-2020, 07:06 AM   #15191
I answer every Emotion with an emoticon
 
6793026's Avatar
 
Join Date: Apr 2004
Location: BC, HK, USA
Posts: 7,500
Thanked 2,424 Times in 1,018 Posts
Failed 166 Times in 73 Posts
Quote:
Originally Posted by Traum View Post
It would only have been an extra $4 - 5k per year if we stay there for 4 - 5 yrs.
Not sure if my math is wrong, if it is 4k-5k more on the mortgage per yr is quiet a bit.
I was caught on this dilemma also, but I went on the crazy safe side. I can float 400-500 dollars per year more cause its only 40 dollars per month on the mortgage, if it it was 4-5k per yr, 400 dollars more on a mortgage is a big chunk.

Now, having 1 income and being sole contributor is rougher to find an extra 5k per yr, guess its a bit diff if it was a married couple.
6793026 is online now   Reply With Quote
Old 01-06-2020, 08:27 AM   #15192
Pull Out Towing. Women rescued for free.
 
SumAznGuy's Avatar
 
Join Date: Mar 2002
Location: Hongcouver
Posts: 8,449
Thanked 2,414 Times in 1,283 Posts
Failed 128 Times in 71 Posts
Quote:
Originally Posted by 6793026 View Post
Not sure if my math is wrong, if it is 4k-5k more on the mortgage per yr is quiet a bit.
I was caught on this dilemma also, but I went on the crazy safe side. I can float 400-500 dollars per year more cause its only 40 dollars per month on the mortgage, if it it was 4-5k per yr, 400 dollars more on a mortgage is a big chunk.

Now, having 1 income and being sole contributor is rougher to find an extra 5k per yr, guess its a bit diff if it was a married couple.
It all depends on how much their budget was in the first place. If they were ultra conservative then an extra $400 per month isn't much.
If they were mortgaged to the tits, then an extra $400 is a lot.
__________________
Originally posted by Iceman_19 you should have tried to touch his penis. that really throws them off.
Originally posted by The7even SumAznGuy > Billboa
Originally posted by 1990TSI SumAznGuy> Internet > tinytrix
Quote:
Originally Posted by tofu1413 View Post
and icing on the cake, lady driving a newer chrysler 200 infront of me... jumped out of her car, dropped her pants, did an immediate squat and did probably the longest public relief ever...... steam and all.

(11-0-0) Buy/Sell rating
Christine
Shitvic
Pull Out Towing
SumAznGuy is offline   Reply With Quote
Old 01-06-2020, 08:41 AM   #15193
Performance Moderator
 
68style's Avatar
 
Join Date: Jun 2001
Location: Richmond
Posts: 16,667
Thanked 17,353 Times in 5,806 Posts
Failed 291 Times in 187 Posts
Anyone see that letter in the Province discussing how many people have effectively failed the stress test and be unable to renew their mortgages because of the property value decline?

Going to cause a major shitstorm.... government learning at our expense that they can’t regulate their way out of fuckery!

https://theprovince.com/opinion/lett...box=1578276965
68style is online now   Reply With Quote
This post FAILED by:
Old 01-06-2020, 08:50 AM   #15194
RS has made me the bitter person i am today!
 
Join Date: Apr 2014
Location: Van
Posts: 4,657
Thanked 1,973 Times in 1,042 Posts
Failed 209 Times in 126 Posts
I don't think they should have any issues renewing if they stay with the same lender. I haven't heard of people having to requalify to renew. Their current lender should want to keep that business. What I'm worried about is if the lenders will do anything since the property is worth $200k less. But they shouldn't as lenders usually do their own appraisal independent of assessment. And it sounds like they went to a private lender, I also have never heard of anyone purposely wanting to do a 1 year mortgage unless they want to flip, or is at a private lender. As the rate is stupid high for 1 year. Most lenders want you to lock you in for longer.
JDMDreams is offline   Reply With Quote
This post thanked by:
Old 01-06-2020, 09:11 AM   #15195
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
sounds like they were stretched quite thin to begin with
and if you bought in 2019 it was already starting to look bleak...yet signed on a 1 year term?
twitchyzero is offline   Reply With Quote
Old 01-06-2020, 10:02 AM   #15196
Pull Out Towing. Women rescued for free.
 
SumAznGuy's Avatar
 
Join Date: Mar 2002
Location: Hongcouver
Posts: 8,449
Thanked 2,414 Times in 1,283 Posts
Failed 128 Times in 71 Posts
Quote:
Originally Posted by 68style View Post
Anyone see that letter in the Province discussing how many people have effectively failed the stress test and be unable to renew their mortgages because of the property value decline?

Going to cause a major shitstorm.... government learning at our expense that they can’t regulate their way out of fuckery!

https://theprovince.com/opinion/lett...box=1578276965
No evidence backing any of those claims. All hearsay and opinions that doesn't pass the sniffer test.
__________________
Originally posted by Iceman_19 you should have tried to touch his penis. that really throws them off.
Originally posted by The7even SumAznGuy > Billboa
Originally posted by 1990TSI SumAznGuy> Internet > tinytrix
Quote:
Originally Posted by tofu1413 View Post
and icing on the cake, lady driving a newer chrysler 200 infront of me... jumped out of her car, dropped her pants, did an immediate squat and did probably the longest public relief ever...... steam and all.

(11-0-0) Buy/Sell rating
Christine
Shitvic
Pull Out Towing
SumAznGuy is offline   Reply With Quote
Old 01-06-2020, 10:40 AM   #15197
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 SumAznGuy View Post
No evidence backing any of those claims. All hearsay and opinions that doesn't pass the sniffer test.
Well it is a letter to the editor, which is just an opinion piece. The fact that they blame the wrong government for implementing the stress tests speaks volumes about how misinformed or dumb the average person is in this province.
__________________
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 01-06-2020, 11:33 AM   #15198
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
As I understand it, if the mortgage renewal is done with the same lender, it is unnecessary to go through the stress test again. However, if you switch lender, the stress test will once again become necessary. In a sense, that may deny the borrower from shopping around to get a better rate.
Traum is offline   Reply With Quote
Old 01-06-2020, 11:39 AM   #15199
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 blkgsr View Post
got my assessment, down 11%

single family, coquitlam center area
Went down 14% apartment also near Coquitlam center. However I have a feeling property tax will go up by 5% or more this year.
Mr.HappySilp is offline   Reply With Quote
Old 01-06-2020, 01:28 PM   #15200
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
Would you have an issue refinancing for the following?

Purchase a home for $900,000
$180,000 down payment

$780,000 left on mortgage after five years.

Assessed value / Independent Asseses value is $690k? Household Income has stayed flat at $145k
__________________


2022 Velo N
2005 S2000
2007 CSX Type-S [Sold]
2002 RSX-S [T-Boned]
Gerbs is offline   Reply With Quote
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 07:58 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