| 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. |
 | | 
04-21-2021, 03:05 PM
|
#18276 | | RS has made me the bitter person i am today!
Join Date: May 2005 Location: 604
Posts: 4,502
Thanked 1,726 Times in 546 Posts
Failed 335 Times in 77 Posts
| 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.
| 
|  | |
04-21-2021, 03:20 PM
|
#18277 | | I contribute to threads in the offtopic forum
Join Date: Dec 2001 Location: Vancouver
Posts: 2,830
Thanked 755 Times in 318 Posts
Failed 20 Times in 7 Posts
| 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
__________________
SHIFT_
"Harvey Belafonte ain't black. He's just a good looking white guy dipped in caramel. " - Archie Bunker | |
| | |
04-21-2021, 03:28 PM
|
#18278 | | Performance Moderator
Join Date: Jun 2001 Location: Richmond
Posts: 16,360
Thanked 16,874 Times in 5,633 Posts
Failed 286 Times in 182 Posts
|
Dang... someone just throws out a condo's worth of extra cash on top of ask... ain't no thang
| |
| | |
04-21-2021, 03:39 PM
|
#18279 | | I have named my kids VIC and VLS
Join Date: Oct 2001
Posts: 37,308
Thanked 14,841 Times in 5,903 Posts
Failed 2,052 Times in 683 Posts
| Quote:
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
__________________
Dank memes cant melt steel beams
| 
| | |
04-21-2021, 03:49 PM
|
#18280 | | It's like going crazy when you're already nuts
Join Date: Aug 2005
Posts: 5,890
Thanked 3,023 Times in 787 Posts
Failed 90 Times in 38 Posts
|
Maybe Bonka bought it  | |
| | |
04-21-2021, 03:53 PM
|
#18281 | | RS.net, where our google ads make absolutely no sense!
Join Date: Jan 2007 Location: GVA
Posts: 902
Thanked 335 Times in 121 Posts
Failed 36 Times in 2 Posts
|
Wow. I was quite wrong re: appetite for high end properties in that neighbourhood.
| |
| | |
04-21-2021, 05:09 PM
|
#18282 | | RS has made me the bitter person i am today!
Join Date: May 2005 Location: 604
Posts: 4,502
Thanked 1,726 Times in 546 Posts
Failed 335 Times in 77 Posts
|
Crazy to think how that's all you get in Vancouver for 3+ million. I can fathom paying 10k monthly just for the mortgage....
| |
| | |
04-21-2021, 05:19 PM
|
#18283 | | Rs has made me the woman i am today!
Join Date: Apr 2014 Location: Van
Posts: 4,429
Thanked 1,888 Times in 998 Posts
Failed 193 Times in 120 Posts
|
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
| |
| | |
04-21-2021, 07:10 PM
|
#18284 | | in the butt
Join Date: Aug 2016
Posts: 2,817
Thanked 3,535 Times in 1,289 Posts
Failed 168 Times in 91 Posts
| 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
__________________ 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.
| | |
| | |
04-21-2021, 07:33 PM
|
#18285 | | I contribute to threads in the offtopic forum
Join Date: Dec 2001 Location: Vancouver
Posts: 2,830
Thanked 755 Times in 318 Posts
Failed 20 Times in 7 Posts
| Quote:
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.
__________________
SHIFT_
"Harvey Belafonte ain't black. He's just a good looking white guy dipped in caramel. " - Archie Bunker | |
| | |
04-21-2021, 10:08 PM
|
#18286 | | Need to Seek Professional Help
Join Date: Jan 2005 Location: Van
Posts: 1,036
Thanked 532 Times in 288 Posts
Failed 27 Times in 15 Posts
|
$2m-$3m for a property is nothing for people in Vancouver...
| |
| | |
04-21-2021, 11:34 PM
|
#18287 | | Performance Moderator
Join Date: Jun 2001 Location: Richmond
Posts: 16,360
Thanked 16,874 Times in 5,633 Posts
Failed 286 Times in 182 Posts
|
^ Yah.... no.
| |
| | |
04-22-2021, 09:28 AM
|
#18288 | | OMGWTFBBQ is a common word I say everyday
Join Date: Apr 2001
Posts: 5,004
Thanked 2,490 Times in 1,140 Posts
Failed 79 Times in 53 Posts
| Quote:
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.
| |
| | |
04-22-2021, 09:38 AM
|
#18289 | | Willing to sell body for a few minutes on RS
Join Date: Apr 2011 Location: North vancouver
Posts: 12,440
Thanked 31,913 Times in 7,397 Posts
Failed 209 Times in 157 Posts
|
What kind of income are they pulling in?
__________________
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. | | |
| | |
04-22-2021, 10:31 AM
|
#18290 | | Rs has made me the woman i am today!
Join Date: Dec 2009 Location: Burnaby
Posts: 4,110
Thanked 5,194 Times in 1,974 Posts
Failed 265 Times in 101 Posts
|
^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.
| |
| | |
04-22-2021, 10:54 AM
|
#18291 | | I *heart* Revscene.net very Muchie
Join Date: Apr 2001 Location: Burn-A-Bee
Posts: 3,967
Thanked 404 Times in 181 Posts
Failed 10 Times in 10 Posts
| Quote:
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.
__________________ Never argue with a dumbass, they drag you down to their level and try to beat you with experience My Feedback
Blah™
| |
| | |
04-22-2021, 11:09 AM
|
#18292 | | Banned (BBM)
Join Date: Sep 2009 Location: None
Posts: 3,135
Thanked 667 Times in 265 Posts
Failed 86 Times in 39 Posts
| Quote:
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?
| |
| | |
04-22-2021, 11:15 AM
|
#18293 | | I *Fwap* *Fwap* *Fwap* to RS
Join Date: Aug 2007 Location: Internet
Posts: 1,564
Thanked 572 Times in 130 Posts
Failed 154 Times in 35 Posts
| Quote:
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
| |
| | |
04-22-2021, 11:15 AM
|
#18294 | | I have named my kids VIC and VLS
Join Date: Oct 2001
Posts: 37,308
Thanked 14,841 Times in 5,903 Posts
Failed 2,052 Times in 683 Posts
|
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”
__________________
Dank memes cant melt steel beams
| |
| | |
04-22-2021, 11:17 AM
|
#18295 | | private modder
Join Date: Feb 2002 Location: North Shore
Posts: 6,820
Thanked 2,769 Times in 777 Posts
Failed 47 Times in 35 Posts
| Quote:
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.
| |
| | |
04-22-2021, 11:24 AM
|
#18296 | | Willing to sell body for a few minutes on RS
Join Date: Apr 2011 Location: North vancouver
Posts: 12,440
Thanked 31,913 Times in 7,397 Posts
Failed 209 Times in 157 Posts
| Quote:
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.
__________________
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.
| |
| | |
04-22-2021, 11:45 AM
|
#18297 | | OMGWTFBBQ is a common word I say everyday
Join Date: Apr 2001
Posts: 5,004
Thanked 2,490 Times in 1,140 Posts
Failed 79 Times in 53 Posts
| Quote:
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.
| |
| | |
04-22-2021, 11:59 AM
|
#18298 | | I contribute to threads in the offtopic forum
Join Date: Apr 2007 Location: AB
Posts: 2,777
Thanked 234 Times in 96 Posts
Failed 113 Times in 59 Posts
| Quote:
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.
| |
| | |
04-22-2021, 12:13 PM
|
#18299 | | To me, there is the Internet and there is RS
Join Date: Apr 2007 Location: Okanagan
Posts: 16,573
Thanked 9,257 Times in 4,029 Posts
Failed 427 Times in 225 Posts
|
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.
__________________ 1991 Toyota Celica GTFour RC // 2007 Toyota Rav4 V6 // 2000 Jeep Grand Cherokee
1992 Toyota Celica GT-S ["sold"] \\ 2007 Jeep Grand Cherokee CRD [sold] \\ 2000 Jeep Cherokee [sold] \\ 1997 Honda Prelude [sold] \\ 1992 Jeep YJ [sold/crashed] \\ 1987 Mazda RX-7 [sold] \\ 1987 Toyota Celica GT-S [crushed] Quote:
Originally Posted by maksimizer half those dudes are hotter than ,my GF. | Quote:
Originally Posted by RevYouUp reading this thread is like waiting for goku to charge up a spirit bomb in dragon ball z | Quote:
Originally Posted by Good_KarMa OH thank god. I thought u had sex with my wife. :cry: | | |
| | |
04-22-2021, 12:34 PM
|
#18300 | | RS.net, helping ugly ppl have sex since 2001
Join Date: Feb 2002 Location: Vancouver
Posts: 8,315
Thanked 3,958 Times in 1,526 Posts
Failed 35 Times in 27 Posts
| Quote:
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.
__________________
Crush - 1971 Datsun 240z - Build Thread
The Daily - Rav4 V6 - “Goldilocks”
Last edited by hud 91gt; 04-22-2021 at 12:40 PM.
| |
| | | |
Posting Rules
| You may not post new threads You may not post replies You may not post attachments You may not edit your posts
HTML code is Off
| | |
All times are GMT -8. The time now is 12:11 PM.
|
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!
