Vancouver's Real Estate Market

[iwantaskyline]

Since covid began all G20 nations have been printing money non stop - inflation has to go somewhere. From what i've researched inflation generally hits housing first, especially in desirable cities.

[welfare]

Originally Posted by iwantaskyline

Since covid began all G20 nations have been printing money non stop - inflation has to go somewhere. From what i've researched inflation generally hits housing first, especially in desirable cities.

It's technically not inflation in the most common sense. The BoC is "printing" money yes. But to buy assets. Once the economy is stable,those assets will be sold back and the currency removed from circulation. The byproduct is more currency in circulation, for the time being. It's a neat trick that the US adopted in 08. Japan has been doing it for decades now. It's the China model.
This is how i understand it at least.

It makes me quite uncomfortable these unelected banking institutions having complete control over the economy.
IMO, the bottom will eventually fall out. And it'll be much more devastating than it would have been by allowing the natural rise/fall/rise and so on, of an economy not propped up by fiat currency.
What goes up must come down. In direct reciprocation.

[Spoon]

Originally Posted by welfare

It's technically not inflation in the most common sense. The BoC is "printing" money yes. But to buy assets.

That's still inflation.

[welfare]

Does that still result in inflation though?

Edit: japan's inflation rates have been extraordinarily low for many years using this model of quantitative easing and low interest rates.

[quasi]

Originally Posted by m4k4v4li

any recommendations on realtors? DM me

Also, anyone have experiences using friends as realtors? I've been advised against using friends as sometimes it complicates the relationship (depending on how good friends you guys are)

then again I'm thinking, if I'm going to pay someone why not support a friend, just weighing the pros and cons

I did on the sale of my townhouse, 15 years ago and it wasn't a good experience, would never do it again and further to that I won't use any realtor recommended to me by a friend either. I want it at an arms reach, I don't want to be their friend in case anything goes poorly or I don't like what their doing and I need to fire them. It's a business deal that's it.

[Hondaracer]

Unless your friend is a top tier realtor I wouldn’t even consider it. Even recommendations I’ve had poor experiences as have my family.

Both times I’ve needed a realtor in the last 5 years or so I consulted the top realtors in the area I needed them and picked one based on my experience with them. My wife for whatever reason didn’t end up liking our selling realtor for our condo but I thought she did an excellent job lol

Bringing Somone in and having them asses your home/speak to them directly is free. I wouldn’t commit to anyone without speaking to a few different people

[CRS]

Originally Posted by m4k4v4li

any recommendations on realtors? DM me

Also, anyone have experiences using friends as realtors? I've been advised against using friends as sometimes it complicates the relationship (depending on how good friends you guys are)

then again I'm thinking, if I'm going to pay someone why not support a friend, just weighing the pros and cons

PM'd

I recommended a fellow RSer.

He was my realtor when I purchased my place and I thought he was excellent.

[chinook79]

My parents used someone they knew to sell my townhouse back in mid 2000's. The realtor promised everything from newspaper article to open house on weekend, etc.. to push the sale. The realtor was so ghetto that he didn't even get my signature (I'm the legal owner) before listing it on the market. Months pass by, he never kept one promise and I called out on him for not meeting his end of bargain. He belittled me saying I, the owner of the place he's trying to sell, should stay out of "adult business" (I was in late 20's at that time) and hung up on me. I gave him several chances to apologize to me but instead, he decided that it was wise to talk shit on me to my parents. I called the realtor's manager about lack of professionalism and how I the owner never agreed to list my place in the first place to begin with. The listing came off the very same day, and I used someone else who is rated top seller in my area and sold my place within a week after listing.
In short, business should always stay business. Don't use someone because you or your family knows them. It's bad idea.. not only that you won't get the best result, but you are risking family relationship with the person if things go sour

[bcrdukes]

I was in a similar situation. Had a colleague who doubled up as a real estate agent. Nice guy, we worked well together, he knew his stuff and had a good track record. In the end, I decided not to use him as my realtor, and he was okay with it.

Found another real estate agent after a number of rounds to narrow down one I liked working with. Listed the condo for sale, and sold within 2 hours of listing during the peak of the COVID summer. Thank Goodness.

[SumAznGuy]

Agreed with most of the comments.
Keep it professional. Do your due dilligence and interview a bunch of realtors before signing up with one of them.
Think of yourself as an NHLer and you are deciding which team to sign with.

When we put our place up for sale, we went with one that was recommended. They did a good job on our neighbours unit. Well the husband and wife team pushed us to list as soon as we can and wanted to have the open house during the labour day long weekend.

We ended up going with a different team who did a wonderful job helping us stage the unit, hired a video and photography crew and had the open house a few weeks after the long weekend. We were confident they helped us sell our place for top $$$ at the time.

[JDMDreams]

How do you guys stage? Are your places already vacant? I've only moved furniture around to make the place look better.

[bcrdukes]

I was living at my place at time of sale. Any excess/unnecessary stuff, I put in storage, and bigger ticket items I rented a storage facility to put my bikes and bigger boxes/winter stuff I didn't need out of the way.

My realtor brought in some nice pieces to decorate the place like art and plants and whatnot, while moving stuff around the place to make it look spacious. The key is to make the place as anonymous as possible so the people coming to see your place can imagine it being theirs. Stuff like magazines, post cards I had on the fridge etc. had to be removed because it gave away my identify and no longer anonymizes the unit for sale. Some people end up hiring professional stagers to help sell their places.

[quasi]

Originally Posted by JDMDreams

How do you guys stage? Are your places already vacant? I've only moved furniture around to make the place look better.

When I sold my townhouse the first time we got a storage locker and moved a lot of stuff out into that.

When I listed my house last year we moved some stuff into the garage but it was a lot harder as we had two dogs.

As long as you get rid of personal shit and keep it as neutral as possible you're probably fine. I know when i was looking at houses my house was way cleaner and better organized less cluttered than 90% of the places we looked at, some were completely disgusting.

[SumAznGuy]

Originally Posted by quasi

When I sold my townhouse the first time we got a storage locker and moved a lot of stuff out into that.

When I listed my house last year we moved some stuff into the garage but it was a lot harder as we had two dogs.

As long as you get rid of personal shit and keep it as neutral as possible you're probably fine. I know when i was looking at houses my house was way cleaner and better organized less cluttered than 90% of the places we looked at, some were completely disgusting.

You'd be surprised that some people don't even do the basics like clean the toilet.
First time we went looking, we went to a few apartments. One unit, very cheap, the carpet was disgusting around the heater vents, toilet and bath tub had a ring.

Another unit we went to had the balcony closed off and turned into a bed room. I think there were 5 people living in that 2* bedroom unit.

Another unit we looked at had a piled up garbage can and a giant freezer in the living room.

Shit like this turns off prospective buyers.

Definately rent that storage unit or locker and move any unnecessary stuff out of the unit, and go for lunch during the open house. Let the realtor do their job at the open house. You are not helping them sell the unit with you being there.

[Hondaracer]

Lol reminds me when I went to an open house by renfrew and first, pretty gross house from the outside as is, this was back in 2017 or whatever when everyone was trying to cash out on rediculous prices

Asian family had some mainlander realtor who could barely speak English but just pointed us in, house was an absolute pig sty hoarder just shit piled everywhere even the kids rooms had like multiple computers piled up, amps, fucking Ethernet runs going up and down the stairs etc

I then asked how to get to the “suite” you had to basically crawl through a fucking tunnel of hanging clothes and hanging rubbish between the wall and a washer and dryer to a little disgusting 1br “den” suite with the shittiest appliances I’ve ever seen

As we’re walking out ready for a shower, the realtor “hah hah offer?? You put in offer?!?”

Edit* oh and to top of off, the home owners were sitting on the couch in the living room for the entire open house lol

[welfare]

Not sure why the fail count on my comment.
Factually incorrect? Offensive?
Genuinely curious.

[donk.]

Bahahhaah, everyone in this tread keeps mentioning "top realtor in my area"

All realtors are "TOP 1% REALTOR!"

[Hondaracer]

Except for your friends.. lol

I don’t rally care about those MLS stats but if you live in the hood you’re selling in just take a walk over a couple weeks and take note of the for sale signs and who’s listings are always selling

[Gerbs]

Originally Posted by donk.

Bahahhaah, everyone in this tread keeps mentioning "top realtor in my area"

All realtors are "TOP 1% REALTOR!"

My friend picked up a Cayenne from a top 1% Realtor. Apparently, top 1% makes over $1mill gross, while top 10% is $300k+ gross. Mans lived in a $7M home in Arbutus. He got lucky because he was one of the few asians who took on all the HK clients during the immigration rush in the 80's and 90's.

[bcrdukes]

I find that cleanliness and maintenance records go a long way in a sale. It at least gives the general impression that it was at least taken care of. If I come across anything that's as disgusting as what Hondaracer mentioned, I would have just peaced out and left.

There was a home I looked at over the summer, was in a perfect location and met all the requirements...until I went to see it. Dog food all over the floor, smears across the mirrors in an attempt to clean the bathroom, and the worst was the range hood - oil just dripping out of the fans. It was so disgusting. I didn't even spend more than 5 minutes in there and the realtor asked what I thought of it, and we just laughed.

[Harvey Specter]

Someone explain this...




$9,980,000
Favourite
4042 W 27TH AVENUE

https://www.realtor.ca/real-estate/2...enue-vancouver

[donk.]

^ other than the pricetag

Thats a sweet design, from outside to inside.
I personally love ultra modern designs, ever if it looks 50 years ahead of its time

[Hondaracer]

Ducking 10 million for exposed form ties on your retaining wall and an undermined walk way Ffs..

Jesus.. that may be the most overpriced place I’ve seen listed imo

Unless there is insane ultra high end eco friendly, green, bullshit built into that house to no end that may be the least house I’ve ever seen for such money? Regardless of ultra modern or not.

In 20 years that house will look like trash.

Edit* sorry when I first looked at the address I thought it was more south Van. The value is obviously in the location but it’s barely a double size lot. Crazy

[lilaznviper]

at first glance, i thought it was built out of shipping containers

[Hehe]

Flat roof is a big no-no here in Canada.

You can do the best work on the roof, but water from our rain and snow would ultimately find its way through.

They look great... but it only works for places like SoCal where even you accumulate a swimming pool worth of water on the roof, it'd be dry by the next rain.