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08-27-2020, 02:14 PM
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#16251 | | Need to Seek Professional Help
Join Date: Jan 2005 Location: Van
Posts: 1,051
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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...
Last edited by Alpine; 08-27-2020 at 02:21 PM.
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08-27-2020, 02:56 PM
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#16252 | | RS has made me the bitter person i am today!
Join Date: Apr 2014 Location: Van
Posts: 4,798
Thanked 2,014 Times in 1,069 Posts
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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
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08-27-2020, 02:58 PM
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#16253 | | I don't get it
Join Date: Mar 2012 Location: GVR
Posts: 404
Thanked 339 Times in 144 Posts
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Originally Posted by fliptuner  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
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08-27-2020, 04:08 PM
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#16254 | | I answer every Emotion with an emoticon
Join Date: Apr 2004 Location: BC, HK, USA
Posts: 7,536
Thanked 2,438 Times in 1,027 Posts
Failed 166 Times in 73 Posts
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Originally Posted by jcmaz 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.
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08-27-2020, 04:33 PM
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#16255 | | It's like going crazy when you're already nuts
Join Date: Aug 2005
Posts: 5,910
Thanked 3,068 Times in 795 Posts
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Originally Posted by Tapioca 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.
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08-27-2020, 05:53 PM
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#16256 | | RS.net, helping ugly ppl have sex since 2001
Join Date: Feb 2002 Location: Vancouver
Posts: 8,348
Thanked 3,990 Times in 1,540 Posts
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Originally Posted by bcedhk 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.
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08-27-2020, 06:04 PM
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#16257 | | in the butt
Join Date: Aug 2016
Posts: 2,882
Thanked 3,659 Times in 1,331 Posts
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Originally Posted by bcrdukes @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
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Clothes come off and my car is permeated with the smell of fillet-o-fish and canned tuna.
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08-27-2020, 06:43 PM
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#16258 | | I WANT MY 10 YEARS BACK FROM RS.net!
Join Date: Oct 2007 Location: Vancouver BC
Posts: 22,111
Thanked 9,871 Times in 3,926 Posts
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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
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08-27-2020, 08:01 PM
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#16259 | | RS has made me the bitter person i am today!
Join Date: Nov 2010 Location: /
Posts: 4,928
Thanked 2,647 Times in 1,021 Posts
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Originally Posted by donk. when can we set this up? im lonely | I'm in if dukes is in, let's break in that new condo 
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2022 Velo N
2005 S2000
2007 CSX Type-S [Sold]
2002 RSX-S [T-Boned]
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08-27-2020, 08:17 PM
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#16260 | | RS.net, helping ugly ppl have sex since 2001
Join Date: Mar 2002 Location: Lollipop Lane
Posts: 8,529
Thanked 194 Times in 97 Posts
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| Quote:
Originally Posted by bcedhk 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
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Its Klobbering Time!
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08-27-2020, 09:35 PM
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#16261 | | OMGWTFBBQ is a common word I say everyday
Join Date: Apr 2001
Posts: 5,034
Thanked 2,552 Times in 1,158 Posts
Failed 81 Times in 54 Posts
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Originally Posted by Alpine 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.
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08-27-2020, 11:37 PM
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#16262 | | I WANT MY 10 YEARS BACK FROM RS.net!
Join Date: Oct 2007 Location: Vancouver BC
Posts: 22,111
Thanked 9,871 Times in 3,926 Posts
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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  | |
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08-28-2020, 04:30 AM
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#16263 | | My homepage has been set to RS
Join Date: Feb 2002
Posts: 2,092
Thanked 485 Times in 149 Posts
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Just accepted an offer on our th. 5 days on market, multiple offers over ask Quote:
Originally Posted by Tapioca 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. | | |
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08-28-2020, 07:43 AM
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#16264 | | Need my Daily Fix of RS
Join Date: Feb 2017 Location: VAN604
Posts: 256
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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.
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08-28-2020, 09:45 AM
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#16265 | | RS has made me the bitter person i am today!
Join Date: Nov 2010 Location: /
Posts: 4,928
Thanked 2,647 Times in 1,021 Posts
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Originally Posted by G0rilla 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.
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2022 Velo N
2005 S2000
2007 CSX Type-S [Sold]
2002 RSX-S [T-Boned]
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08-28-2020, 09:47 AM
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#16266 | | Need to Seek Professional Help
Join Date: Mar 2003 Location: Vancouver
Posts: 1,091
Thanked 164 Times in 83 Posts
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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
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08-28-2020, 10:10 AM
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#16267 | | HELP ME PLS!!!
Join Date: Nov 2003 Location: Vancouver
Posts: 5,540
Thanked 980 Times in 166 Posts
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Originally Posted by Sw0op 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?
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08-28-2020, 10:19 AM
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#16268 | | Need to Seek Professional Help
Join Date: Mar 2003 Location: Vancouver
Posts: 1,091
Thanked 164 Times in 83 Posts
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north burnaby
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08-28-2020, 10:29 AM
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#16269 | | OMGWTFBBQ is a common word I say everyday
Join Date: Apr 2001
Posts: 5,034
Thanked 2,552 Times in 1,158 Posts
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Originally Posted by twitchyzero 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 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
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08-28-2020, 10:30 AM
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#16270 | | I Will not Admit my Addiction to RS
Join Date: May 2011 Location: vancouver
Posts: 532
Thanked 422 Times in 70 Posts
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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
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08-28-2020, 10:31 AM
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#16271 | | RS.net, where our google ads make absolutely no sense!
Join Date: Sep 2008 Location: Rmd
Posts: 924
Thanked 435 Times in 194 Posts
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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?
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08-28-2020, 10:35 AM
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#16272 | | Waxin’ Punks
Join Date: Jun 2006 Location: South Surrey
Posts: 7,217
Thanked 6,101 Times in 2,111 Posts
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Originally Posted by JayEch 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.
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Originally Posted by mikemhg What do your farts sound like then? | | |
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08-28-2020, 10:44 AM
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#16273 | | OMGWTFBBQ is a common word I say everyday
Join Date: Apr 2001
Posts: 5,034
Thanked 2,552 Times in 1,158 Posts
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Originally Posted by JayEch 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.
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08-28-2020, 10:46 AM
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#16274 | | I subscribe to the Fight Club ONLY
Join Date: Aug 2007 Location: Paradise, BC
Posts: 7,044
Thanked 6,792 Times in 2,747 Posts
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Originally Posted by JayEch 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.  | |
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08-28-2020, 01:08 PM
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#16275 | | I contribute to threads in the offtopic forum
Join Date: Sep 2004 Location: Canada
Posts: 2,946
Thanked 1,311 Times in 543 Posts
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Originally Posted by heleu 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.
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