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04-21-2021, 03:05 PM
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#18276 | | RS has made me the bitter person i am today!
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| Quote:
Originally Posted by CRS  Listed for $2,999,000 and sold for $2,910,000 | lol. poor new owner will need to spend that 80k savings in repairing the shitty workmanship in the short-term.
Last edited by bcedhk; 04-21-2021 at 03:11 PM.
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04-21-2021, 03:20 PM
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#18277 | | I contribute to threads in the offtopic forum
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| Quote:
Originally Posted by Hondaracer 2501 Cambridge, the EV house I posted last week for 2.9 has sold in under 10 days: 
Veryyyy interested if it went over ask. If so that’s insane | Sold $3.26m
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04-21-2021, 03:28 PM
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#18278 | | Performance Moderator
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Dang... someone just throws out a condo's worth of extra cash on top of ask... ain't no thang
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04-21-2021, 03:39 PM
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#18279 | | I have named my kids VIC and VLS
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Originally Posted by Bonka Sold $3.26m | Where do you find such a quick listing? My paragon login etc doesn’t have it
Holy fuck
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04-21-2021, 03:49 PM
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#18280 | | It's like going crazy when you're already nuts
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Maybe Bonka bought it  | |
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04-21-2021, 03:53 PM
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#18281 | | RS.net, where our google ads make absolutely no sense!
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Wow. I was quite wrong re: appetite for high end properties in that neighbourhood.
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04-21-2021, 05:09 PM
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#18282 | | RS has made me the bitter person i am today!
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Crazy to think how that's all you get in Vancouver for 3+ million. I can fathom paying 10k monthly just for the mortgage....
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04-21-2021, 05:19 PM
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#18283 | | OMGWTFBBQ is a common word I say everyday
Join Date: Apr 2014 Location: Van
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I'm pretty sure at that level they will have significant down payment if not cash deal. I highly doubt it's 80% loan on a $3m house or you are barely scraping the down payment together
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04-21-2021, 07:10 PM
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#18284 | | in the butt
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| Quote:
Originally Posted by Hondaracer Where do you find such a quick listing? My paragon login etc doesn’t have it
Holy fuck |
Call and ask
Realtors love talking about how much their listing oversold for
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04-21-2021, 07:33 PM
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#18285 | | I contribute to threads in the offtopic forum
Join Date: Dec 2001 Location: Vancouver
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Originally Posted by Hondaracer Where do you find such a quick listing? My paragon login etc doesn’t have it
Holy fuck | Showed up on my hotsheet this afternoon. Paragon broker side is real time. Probably lag on the client portal. Quote:
Originally Posted by jing Maybe Bonka bought it | Nah. Enough trouble paying my measly mortgage  Quote:
Originally Posted by JDMDreams I'm pretty sure at that level they will have significant down payment if not cash deal. I highly doubt it's 80% loan on a $3m house or you are barely scraping the down payment together | Correct. Considering how quickly the status updated most likely clean offer. Solds don't get posted until both brokerages compile the paperwork and is sent to the board for processing.
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"Harvey Belafonte ain't black. He's just a good looking white guy dipped in caramel. " - Archie Bunker | |
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04-21-2021, 10:08 PM
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#18286 | | Need to Seek Professional Help
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$2m-$3m for a property is nothing for people in Vancouver...
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04-21-2021, 11:34 PM
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#18287 | | Performance Moderator
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^ Yah.... no.
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04-22-2021, 09:28 AM
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#18288 | | OMGWTFBBQ is a common word I say everyday
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Originally Posted by Alpine $2m-$3m for a property is nothing for people in Vancouver... | The unfortunate thing is that lots of people out there still remain wedded to the notion that they're supposed to be in the game of detached home ownership in the City of Vancouver.
Detached home ownership in the City of Vancouver is only for a specific echelon of households now... and yes, for them, $2M to $3M is nothing. Many of these households are on RS, RedFlagDeals, etc. and are younger/less "foreign" than people out there think.
A millennial household that we're friends with just had their offer accepted on a $4M house in Quilchena. That's who's in the game now.
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04-22-2021, 09:38 AM
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#18289 | | Willing to sell a family member for a few minutes on RS
Join Date: Apr 2011 Location: North vancouver
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What kind of income are they pulling in?
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04-22-2021, 10:31 AM
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#18290 | | Rs has made me the woman i am today!
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^Exactly.
In my industry, I'm quite privy to the salary amounts people carry in some of the largest employers in the city.
The salaries to support such ownership costs are simply not there. Any anecdotal stories are purely that, anecdotal.
I believe much of it (if millennials) is parent/family money, which is generally a small percentage of the population.
People are underestimating how many numbered shadow LLCs are being put together with multiple investors simply to use this residential market for investment growth purposes, I would say that's probably the primary issue here in terms of costs, pure speculation. Why invest in the market when you can get some people together (including foreign investors) and see +40% returns in the span of a year in real-estate? It's insane.
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04-22-2021, 10:54 AM
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#18291 | | Rs has made me the woman i am today!
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Originally Posted by Alpine $2m-$3m for a property is nothing for people in Vancouver... | I can't remember, but you are a realtor, right?
If so, what kind of clients do you have where 2-3m is nothing? Speaking about the ones buying for the purposes of making it a legit principal residence.
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04-22-2021, 11:09 AM
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#18292 | | Banned (BBM)
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Originally Posted by Hakkaboy I can't remember, but you are a realtor, right?
If so, what kind of clients do you have where 2-3m is nothing? Speaking about the ones buying for the purposes of making it a legit principal residence. | Must be either dual income high earners, or the typical, doctors lawyers etc etc...
For 2-3m to be nothing is pretty tough, i'm guesstimating a 250-300k household income?
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04-22-2021, 11:15 AM
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#18293 | | I *Fwap* *Fwap* *Fwap* to RS
Join Date: Aug 2007 Location: Internet
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Originally Posted by Hakkaboy I can't remember, but you are a realtor, right?
If so, what kind of clients do you have where 2-3m is nothing? Speaking about the ones buying for the purposes of making it a legit principal residence. | I used to be interested in this stuff as well, can't speak for him but in my experience:
-senior couple in their 70s that sold their home as part of a land assembly and bought a new home for $2.5m in Coquitlam - took a $200k mortgage
-Couple in their 50s sold their land assembly Shaughnessy home and moved to Coquitlam as well, $2.4m cash. Wife is a teacher.
-Couple divorced, sold their Westside home, bought it in 2009 for $1.8m, sold for triple, husband bought $2.5m cash condo downtown. He's a doctor as well.
-$2m cash purchase few years ago in Renfrew Heights, Chinese guy who owned clothing factory, it was his 20th property here
just a few examples from my experience
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04-22-2021, 11:15 AM
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#18294 | | I have named my kids VIC and VLS
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So my family GP makes like 145k I think last time I looked
Say her Husband is also a doctor and makes a little more than she does, 200k
345k dual household income is pretty substantial, and I doubt they would be looking at 3-4m homes lol..
You’re talking about business owners, CEO, etc. When you’re getting into these prices, not just two people with “good jobs”
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04-22-2021, 11:17 AM
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#18295 | | private modder
Join Date: Feb 2002 Location: North Shore
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Originally Posted by mikemhg ^Exactly.
In my industry, I'm quite privy to the salary amounts people carry in some of the largest employers in the city.
The salaries to support such ownership costs are simply not there. Any anecdotal stories are purely that, anecdotal.
I believe much of it (if millennials) is parent/family money, which is generally a small percentage of the population.
People are underestimating how many numbered shadow LLCs are being put together with multiple investors simply to use this residential market for investment growth purposes, I would say that's probably the primary issue here in terms of costs, pure speculation. Why invest in the market when you can get some people together (including foreign investors) and see +40% returns in the span of a year in real-estate? It's insane. | I agree with this for 2 reasons:
Personally, if I think about everyone I know that owns a detached home: they either bought it 5 - 7 years ago OR they are a beneficiary of family money that helped them get into the market.
Also - Looking at the strata where I currently live, there is a very high number of units that are owned by numbered or what look like shell companies. I'm sure our strata is not unique in that.
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04-22-2021, 11:24 AM
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#18296 | | Willing to sell a family member for a few minutes on RS
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Originally Posted by G Must be either dual income high earners, or the typical, doctors lawyers etc etc...
For 2-3m to be nothing is pretty tough, i'm guesstimating a 250-300k household income? | If you don’t have a million sitting around, for a 2-3 million dollar home to “make sense” you, your wife, and your kid that lives at home should all be doctors.
A 2000000 mortgage puts your housing costs at about 13k/month so say you have 1000000 down for a 3 million dollar home.
300k a year salary puts your take home (for one person) and around 16k/month.
Leaves you with 3k a month as a doctor lol. Enough to eat at cactus club once a week and pay for your f80.
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98 technoviolet M3/2/5 Quote:
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. |
Last edited by westopher; 04-22-2021 at 11:30 AM.
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04-22-2021, 11:45 AM
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#18297 | | OMGWTFBBQ is a common word I say everyday
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Originally Posted by Hondaracer
You’re talking about business owners, CEO, etc. When you’re getting into these prices, not just two people with “good jobs”
| Bingo. We're talking about people who send their kids to private schools. These are the households that are buying these properties.
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04-22-2021, 11:59 AM
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#18298 | | I contribute to threads in the offtopic forum
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Originally Posted by donk. Call and ask
Realtors love talking about how much their listing oversold for | ^
Last edited by m4k4v4li; 09-14-2021 at 08:51 PM.
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04-22-2021, 12:13 PM
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#18299 | | To me, there is the Internet and there is RS
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So bought land when it was cheap, bought land when it was cheap, doctor who bought land when it was cheaper and an uber-rich foreigner. Those are hardly normal people.
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04-22-2021, 12:34 PM
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#18300 | | RS.net, helping ugly ppl have sex since 2001
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Originally Posted by G Must be either dual income high earners, or the typical, doctors lawyers etc etc...
For 2-3m to be nothing is pretty tough, i'm guesstimating a 250-300k household income? | I have a very good friend who he and his wife make 750k. They rent as they don’t want to be house poor. Lol.
Edit: I shall add, their expectations are high, but so they should be. 2 million is easily doable for them, but your living in a rundown place(if you want to live in Vancouver). Realistically they will buy waterfront on the island for the same coin, in a “nice” place to live.
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