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 08-27-2020, 02:14 PM   #16251
Need to Seek Professional Help
 
Join Date: Jan 2005
Location: Van
Posts: 1,041
Thanked 539 Times in 290 Posts
Failed 27 Times in 15 Posts
Entry detached is running away from the rest of the market. It's absolutely insane, anything that's not a tear down under 1.7M is gone in the blink of an eye. Prices are up 15% in 1 year and I think we're about to see ATH in this segment if we're not there yet... It definitely feels like 2016 again for anyone looking in this segment...

Your standard, well maintained, original van special is now selling for up to 1.6-1.7m...
2688 E45th just sold for 1.663M today (ask was 1.498. peak 2018 assessed was 1.453)...

*disclaimer: sold my Olympic village condo july 2019 hoping to make the jump to detached while headlines were screaming that sales were the lowest in 30 years... I got caught completely off guard with how fast the detached market was heating up, lost out on multiple offers over 8-9 months and ended up settling for a detached in west Coquitlam a few months ago. Hindsight is 20/20 but I lost out on over 100k in equity gains...
Advertisement

Last edited by Alpine; 08-27-2020 at 02:21 PM.
Alpine is offline   Reply With Quote
Old 08-27-2020, 02:56 PM   #16252
RS has made me the bitter person i am today!
 
Join Date: Apr 2014
Location: Van
Posts: 4,594
Thanked 1,947 Times in 1,029 Posts
Failed 206 Times in 125 Posts
I think it's cuz low rates. so Asians are getting jack shit for their gics and they are putting it into houses again. Cuz equity market are too risky for them
JDMDreams is offline   Reply With Quote
This post thanked by:
Old 08-27-2020, 02:58 PM   #16253
I don't get it
 
Join Date: Mar 2012
Location: GVR
Posts: 404
Thanked 339 Times in 144 Posts
Failed 66 Times in 8 Posts
Quote:
Originally Posted by fliptuner View Post
Low interest rates, a lot of people have cash and I suspect, soon, people will be moving back from HK.
Think of all the folks who live at home with their parents in the Lower Mainland. It's rather easy to save up money if you don't have much expenses
jcmaz is offline   Reply With Quote
This post thanked by:
Old 08-27-2020, 04:08 PM   #16254
I subscribe to the Fight Club ONLY
 
6793026's Avatar
 
Join Date: Apr 2004
Location: BC, HK, USA
Posts: 7,464
Thanked 2,400 Times in 1,005 Posts
Failed 166 Times in 73 Posts
Quote:
Originally Posted by jcmaz View Post
Think of all the folks who live at home with their parents in the Lower Mainland. It's rather easy to save up money if you don't have much expenses
Never happens...

I teach young kids and when they get into the mentality on a few raises and job changes.. they just spend more. When one started to move out.. they realized they were able to buy a place due to a bigger down payment, but realized they weren't used to the saving mentality and has a tougher time managing money.
6793026 is offline   Reply With Quote
Old 08-27-2020, 04:33 PM   #16255
It's like going crazy when you're already nuts
 
jing's Avatar
 
Join Date: Aug 2005
Posts: 5,900
Thanked 3,048 Times in 791 Posts
Failed 90 Times in 38 Posts
Quote:
Originally Posted by Tapioca View Post
Is anyone else buying and selling right now? Detached seems to be moving pretty quickly under the 1.3M mark.

We recently sold our townhouse in less than 1 week with multiple offers.
We're waiting on subject removal coming up in a few more days, but same situation with our 1br. Detached is too far of a leap with our current finances unless we move out way east which is out of the equation.
__________________
my feedback
jing is offline   Reply With Quote
Old 08-27-2020, 05:53 PM   #16256
RS.net, helping ugly ppl have sex since 2001
 
hud 91gt's Avatar
 
Join Date: Feb 2002
Location: Vancouver
Posts: 8,339
Thanked 3,985 Times in 1,537 Posts
Failed 35 Times in 27 Posts
Quote:
Originally Posted by bcedhk View Post
how much are those going for?

I also want to buy a little lot either up north or on the islands to build my own mid-life crisis/retirement home.
I purchased within a strata development where some of my family already owns called Woodland Shores.

This was a new release of 16 lots, and most sold within the first week. The cheapest 3-4 lots are still available. Ranges were 140-200k for about a 6k sq/f lot. Most with mountain/and or water views. Strata fees at $20 a month (for the private road). The entire area is from the same developer. The true selling feature of the lots is first access to a new marina being built by the developer in the spring. Lake living for a fraction of the price.
__________________
Crush - 1971 Datsun 240z - Build Thread
The Daily - Rav4 V6 - “Goldilocks”
hud 91gt is offline   Reply With Quote
This post thanked by:
Old 08-27-2020, 06:04 PM   #16257
in the butt
 
donk.'s Avatar
 
Join Date: Aug 2016
Posts: 2,840
Thanked 3,568 Times in 1,305 Posts
Failed 169 Times in 92 Posts
Quote:
Originally Posted by bcrdukes View Post
@donk - Please let me cum on your pillow. I'm sure it's not a big deal. But maybe not. you might like it.

when can we set this up? im lonely
__________________
Quote:
Originally Posted by Mr.Money
i hate people who sound like they smoke meth then pretend like they matter.

Originally Posted by ilovebacon
Does anyone have a pair of 25 pounds one-inch hole for sale at a reasonable price?


Originally Posted by mikemhg
Clothes come off and my car is permeated with the smell of fillet-o-fish and canned tuna.

donk. is offline   Reply With Quote
This post thanked by:
Old 08-27-2020, 06:43 PM   #16258
I WANT MY 10 YEARS BACK FROM RS.net!
 
twitchyzero's Avatar
 
Join Date: Oct 2007
Location: Vancouver BC
Posts: 22,100
Thanked 9,864 Times in 3,922 Posts
Failed 881 Times in 421 Posts
at some point even generational wealth can't bridge the gap on top of a 7-figure loan and 3 mtg helpers
curious to see where that limit is
twitchyzero is offline   Reply With Quote
This post thanked by:
Old 08-27-2020, 08:01 PM   #16259
RS has made me the bitter person i am today!
 
Join Date: Nov 2010
Location: /
Posts: 4,845
Thanked 2,557 Times in 980 Posts
Failed 253 Times in 72 Posts
Quote:
Originally Posted by donk. View Post
when can we set this up? im lonely
I'm in if dukes is in, let's break in that new condo
__________________


2022 Velo N
2005 S2000
2007 CSX Type-S [Sold]
2002 RSX-S [T-Boned]
Gerbs is offline   Reply With Quote
This post thanked by:
Old 08-27-2020, 08:17 PM   #16260
RS.net, helping ugly ppl have sex since 2001
 
Klobbersaurus's Avatar
 
Join Date: Mar 2002
Location: Lollipop Lane
Posts: 8,529
Thanked 194 Times in 97 Posts
Failed 11 Times in 7 Posts
Quote:
Originally Posted by bcedhk View Post
how much are those going for?

I also want to buy a little lot either up north or on the islands to build my own mid-life crisis/retirement home.
there's a 5 acre lot going for $389,900 in Qualicum beach area right now

I just got my place in Qualicum beach area, a bit over 1 acre, 900 sq ft workshop, 2018 sq ft house and i recently found out i have a cabin in the woods too, I paid $482,000

There are some good deals right now in little qualicum river and its a gated community
__________________
Its Klobbering Time!
Klobbersaurus is offline   Reply With Quote
This post thanked by:
Old 08-27-2020, 09:35 PM   #16261
OMGWTFBBQ is a common word I say everyday
 
Join Date: Apr 2001
Posts: 5,021
Thanked 2,531 Times in 1,151 Posts
Failed 81 Times in 54 Posts
Quote:
Originally Posted by Alpine View Post
Entry detached is running away from the rest of the market. It's absolutely insane, anything that's not a tear down under 1.7M is gone in the blink of an eye. Prices are up 15% in 1 year and I think we're about to see ATH in this segment if we're not there yet... It definitely feels like 2016 again for anyone looking in this segment...

Your standard, well maintained, original van special is now selling for up to 1.6-1.7m...
2688 E45th just sold for 1.663M today (ask was 1.498. peak 2018 assessed was 1.453)...

*disclaimer: sold my Olympic village condo july 2019 hoping to make the jump to detached while headlines were screaming that sales were the lowest in 30 years... I got caught completely off guard with how fast the detached market was heating up, lost out on multiple offers over 8-9 months and ended up settling for a detached in west Coquitlam a few months ago. Hindsight is 20/20 but I lost out on over 100k in equity gains...
I've always had a soft spot for Vancouver specials as I grew up in one, but with the shift to working from home, at least on a semi-permanent basis, I'm not convinced of the value of paying those prices unless it's on an arterial for a future assembly. A family of four confined to the upstairs of an OG Vancouver special is not going to cut it when both parents are talking over each other on MS Teams in the dining room/kitchen. Lot value alone is 1.4-1.5 M considering the age of most of the OG specials, so if you tear it down to build a laneway and 3 story house with a basement suite, you're looking at about 2.3-2.5 M at the end of the day to have a Vancouver postal code.
Tapioca is offline   Reply With Quote
Old 08-27-2020, 11:37 PM   #16262
I WANT MY 10 YEARS BACK FROM RS.net!
 
twitchyzero's Avatar
 
Join Date: Oct 2007
Location: Vancouver BC
Posts: 22,100
Thanked 9,864 Times in 3,922 Posts
Failed 881 Times in 421 Posts
99% of vancouver low density can zone for a duplex

on a half decently wide lot that's 4 families let's say for 2.7M

with a few garage spaces in the back then it beats 1M+ townhomes per family with skyrocketing strata

thankfully never met anyone who cares about postal code...this aint malibu/hamptons
twitchyzero is offline   Reply With Quote
This post thanked by:
Old 08-28-2020, 04:30 AM   #16263
My homepage has been set to RS
 
Join Date: Feb 2002
Posts: 2,092
Thanked 485 Times in 149 Posts
Failed 80 Times in 15 Posts
Just accepted an offer on our th. 5 days on market, multiple offers over ask
Quote:
Originally Posted by Tapioca View Post
Is anyone else buying and selling right now? Detached seems to be moving pretty quickly under the 1.3M mark.

We recently sold our townhouse in less than 1 week with multiple offers.
Iron Chef is online now   Reply With Quote
This post thanked by:
Old 08-28-2020, 07:43 AM   #16264
Need my Daily Fix of RS
 
G0rilla's Avatar
 
Join Date: Feb 2017
Location: VAN604
Posts: 256
Thanked 690 Times in 130 Posts
Failed 14 Times in 5 Posts
Covid didn't do shit to the housing market because the only people who lost their jobs/faced struggles were those in the entry level jobs. Professional jobs were stable.

For those that are seeing detached sold over asking, on average how much over assessed was it? Was asking price on par with a assessed? In Richmond it seems most houses are listed 20% over assessed, and then still hoping for more which is ludicrous.
G0rilla is offline   Reply With Quote
Old 08-28-2020, 09:45 AM   #16265
RS has made me the bitter person i am today!
 
Join Date: Nov 2010
Location: /
Posts: 4,845
Thanked 2,557 Times in 980 Posts
Failed 253 Times in 72 Posts
Quote:
Originally Posted by G0rilla View Post
Covid didn't do shit to the housing market because the only people who lost their jobs/faced struggles were those in the entry level jobs. Professional jobs were stable.
From my understanding Real Estate usually lags 1 - 2 years before things take into effect on the market. People who lost their jobs will rely on savings / EI for a bit until they can find a job again. Once that's depleted is when they'll be forced to sell their homes.
__________________


2022 Velo N
2005 S2000
2007 CSX Type-S [Sold]
2002 RSX-S [T-Boned]
Gerbs is offline   Reply With Quote
This post thanked by:
Old 08-28-2020, 09:47 AM   #16266
Need to Seek Professional Help
 
Join Date: Mar 2003
Location: Vancouver
Posts: 1,091
Thanked 164 Times in 83 Posts
Failed 15 Times in 7 Posts
its insane out there. went to an open house for a brand new build 2M+ and there were 50+ ppl signed up in over 3 hours...it obviously sold shortly after for slightly over asking...nuts
Sw0op is offline   Reply With Quote
Old 08-28-2020, 10:10 AM   #16267
HELP ME PLS!!!
 
Join Date: Nov 2003
Location: Vancouver
Posts: 5,540
Thanked 980 Times in 166 Posts
Failed 399 Times in 67 Posts
Quote:
Originally Posted by Sw0op View Post
its insane out there. went to an open house for a brand new build 2M+ and there were 50+ ppl signed up in over 3 hours...it obviously sold shortly after for slightly over asking...nuts
which area?
alex.w *// is offline   Reply With Quote
Old 08-28-2020, 10:19 AM   #16268
Need to Seek Professional Help
 
Join Date: Mar 2003
Location: Vancouver
Posts: 1,091
Thanked 164 Times in 83 Posts
Failed 15 Times in 7 Posts
north burnaby
Sw0op is offline   Reply With Quote
Old 08-28-2020, 10:29 AM   #16269
OMGWTFBBQ is a common word I say everyday
 
Join Date: Apr 2001
Posts: 5,021
Thanked 2,531 Times in 1,151 Posts
Failed 81 Times in 54 Posts
Quote:
Originally Posted by twitchyzero View Post
99% of vancouver low density can zone for a duplex

on a half decently wide lot that's 4 families let's say for 2.7M

with a few garage spaces in the back then it beats 1M+ townhomes per family with skyrocketing strata

thankfully never met anyone who cares about postal code...this aint malibu/hamptons
Virtually all new duplexes in the city of Vancouver are strata titled, which still poses some risks in terms of rising insurance costs. Right now, the insurance market is not really discriminating for any condo property - they're all high-risk as far as insurers are concerned. And all of the Strata Property Act provisions apply, whether the owners comply with them or not.

You can save on maintenance with a duplex though, if you place no value on your time and if you get along with your neighbour(s).

A 15' duplex is no better than a typical narrow strata townhouse that you find in the suburbs. I think a 22'-25' wide rowhouse is the ideal width for this form of home. Better if it's titled as a non-strata rowhome.

Quote:
Originally Posted by G0rilla View Post
Covid didn't do shit to the housing market because the only people who lost their jobs/faced struggles were those in the entry level jobs. Professional jobs were stable.

For those that are seeing detached sold over asking, on average how much over assessed was it? Was asking price on par with a assessed? In Richmond it seems most houses are listed 20% over assessed, and then still hoping for more which is ludicrous.
A few examples over the last 30 days:
13 Ravine Drive
Assessed: 1.045 M
Sold: $1.203 M

1283 Tercel Court
Assessed: $1.073 M
Sold: $1.301 M

2574 Steeple Court
Assessed: $1.059 M
Sold: $1.23 M

1616 Hemlock Place
Assessed: $1.159 M
Sold: $1.49 M

2516 Diamond Crescent
Assessed: $1.02 M
Sold: $1.231 M
Tapioca is offline   Reply With Quote
Old 08-28-2020, 10:30 AM   #16270
I Will not Admit my Addiction to RS
 
JayEch's Avatar
 
Join Date: May 2011
Location: vancouver
Posts: 532
Thanked 422 Times in 70 Posts
Failed 68 Times in 16 Posts
Anyone have experience living in Queensborough vs Guildford Area. Wife works near Renfew area in Vancouver and I work near Kerrisdale (WFH for the foreseeable future). We dont go downtown too often.

For Queensborough, I'm worried about the limited shops, traffic/noise, and floodplain issues.

For Guildford, I'm worried about commute, traffic, and crime (heard its not bad though). What are the nice areas of Surrey?

Thanks
JayEch is offline   Reply With Quote
Old 08-28-2020, 10:31 AM   #16271
RS.net, where our google ads make absolutely no sense!
 
heleu's Avatar
 
Join Date: Sep 2008
Location: Rmd
Posts: 924
Thanked 435 Times in 194 Posts
Failed 16 Times in 13 Posts
What are some local real estate sites you guys use?

I use:
zolo.ca to browse listings
zealty.ca to look at asking price vs sold price
bcassessment.ca for assessed price

Any others?
heleu is offline   Reply With Quote
Old 08-28-2020, 10:35 AM   #16272
Waxin’ Punks
 
punkwax's Avatar
 
Join Date: Jun 2006
Location: South Surrey
Posts: 7,197
Thanked 6,083 Times in 2,099 Posts
Failed 215 Times in 113 Posts
Quote:
Originally Posted by JayEch View Post
Anyone have experience living in Queensborough vs Guildford Area. Wife works near Renfew area in Vancouver and I work near Kerrisdale (WFH for the foreseeable future). We dont go downtown too often.

For Queensborough, I'm worried about the limited shops, traffic/noise, and floodplain issues.

For Guildford, I'm worried about commute, traffic, and crime (heard its not bad though). What are the nice areas of Surrey?

Thanks
South Surrey. Quick access to hwy 99 and far nicer than Guildford.
__________________
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
This post thanked by:
Old 08-28-2020, 10:44 AM   #16273
OMGWTFBBQ is a common word I say everyday
 
Join Date: Apr 2001
Posts: 5,021
Thanked 2,531 Times in 1,151 Posts
Failed 81 Times in 54 Posts
Quote:
Originally Posted by JayEch View Post
Anyone have experience living in Queensborough vs Guildford Area. Wife works near Renfew area in Vancouver and I work near Kerrisdale (WFH for the foreseeable future). We dont go downtown too often.

For Queensborough, I'm worried about the limited shops, traffic/noise, and floodplain issues.

For Guildford, I'm worried about commute, traffic, and crime (heard its not bad though). What are the nice areas of Surrey?

Thanks
South Surrey is nice, but the housing prices reflect that.

Fleetwood is a good compromise I think, though the plans for Skytrain have likely raised prices there.

North Delta might be worth looking at too since you have access to the Alex Fraser and Highway 91.

With Queensborough, you should absolutely be concerned about the flood plain.
Tapioca is offline   Reply With Quote
This post thanked by:
Old 08-28-2020, 10:46 AM   #16274
Orgasm Donor & Alatar owned my ass twice!
 
Traum's Avatar
 
Join Date: Aug 2007
Location: Paradise, BC
Posts: 6,917
Thanked 6,650 Times in 2,679 Posts
Failed 253 Times in 139 Posts
Quote:
Originally Posted by JayEch View Post
For Queensborough, I'm worried about the limited shops, traffic/noise, and floodplain issues.
Shopping should be a non-issue at Queensborough -- you are literally 10 min away from a gob ton of shops, markets, and restaurants in Richmond, and 15 min away from the Marpole neighbourhood when traffic flows well. Once you've learned the traffic patterns and schedules, I'm sure you can work around it.

But during the busy hours, traffic is an absolute shxt show.
Traum is offline   Reply With Quote
This post thanked by:
Old 08-28-2020, 01:08 PM   #16275
I contribute to threads in the offtopic forum
 
SSM_DC5's Avatar
 
Join Date: Sep 2004
Location: Canada
Posts: 2,906
Thanked 1,284 Times in 533 Posts
Failed 28 Times in 12 Posts
Quote:
Originally Posted by heleu View Post
What are some local real estate sites you guys use?

I use:
zolo.ca to browse listings
zealty.ca to look at asking price vs sold price
bcassessment.ca for assessed price

Any others?
myrealtycheck to track if the list price has gone up or down when someone relists
rew.ca to browse listings.
SSM_DC5 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 12:40 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