Vancouver's Real Estate Market

[Great68]

Yeah, that makes sense, basic t-stat cycles in a window of like 50F, it's constantly up and down. You'll never get a "steady" temperature unless it's fancy commercial oven with a PID temperature controller. The "preheat buzzer" is just telling you that it's at the bottom of the operation window.

Back to real estate, a for sale sign was just put up tonight on my next door neighbors' house. They've only been in it 4 years. Will be interesting to see how they do.

[roastpuff]

That's the thing though - once it's actually in use, it's pretty stable - just that the preheat is overly optimistic.

[hud 91gt]

Originally Posted by PeanutButter

Can someone explain to my dumb*ss how the floor plan says the porch is 27sq/ft based on the dimensions given? It's less than 5'x5', but it's rated as 27 sq/ft? Is sq/ft calculated L x W?

SOHCAHTOA - when was the last time you tried it? Lol


Saying that, most sq/f measurements are complete BS. even brand new developments they are “estimates.”

[TOS'd]

Originally Posted by TOS'd

Went to an open house today.
Listed just under $4m. $15k property tax.
Was told the house has been vacant since the start of the pandemic.
Realtor shows us garage and an orange 4x4 g wagon parked inside.
Says owner just uses the house to store one of his extra cars.

Update: Home still didn't sell, relisted at less $300k.

[Badhobz]

Where is it ? I wanna seeee

[donk.]

Originally Posted by TOS'd

Update: Home still didn't sell, relisted at less $300k.

Another 1mil drop to go before it matches interest rate hikes

[EvoFire]

Originally Posted by TOS'd

Update: Home still didn't sell, relisted at less $300k.

Link to said open house?

[68style]

I think he's in Ontario

[TOS'd]

^ Yea it's in Ontario.

Here's a rather interesting layout for a $1.6M 3BD 4BA 1Garage Freehold Townhouse.

Spoiler!

Spoiler!

[gurdeep007]

Curious no the Mortgage rates these days. My renewal is coming up in, and best rate I have seen so far is 4.63% 5yr fixed.

Is it worth going 5yr or 3yr?

[Badhobz]

we went to a few more open houses the past weekend and pretty much all the acceptable looking ones had a lineup. Most had quite a bit of offers on them unless something is seriously wrong with the lot (too pie, open on 3 sides, strange corner lots, etc). Best one we saw was this one

https://www.rew.ca/properties/477666...nt-richmond-bc

But they had a offer for 3.8 and the owner DIDNT TAKE IT. im like WTF? Because of the weirdo lot, small garage, and overall area, i wouldnt wanna give more than 3.5

[Hondaracer]

Don’t get the appeal of those McMansions whatsoever lol.. especially at those prices. A house that takes up 90% of the lot doesn’t have much swagger lol..

You can get into character homes on the west side of Vancouver for these prices. Homes that are infinitely more attractive and will likely retain value much better.

Like, even being fairly well versed in R/E I feel, if I walked into that house and you told me you paid 3.8 for it I’d have to laugh.

[bcrdukes]

It's Richmond or bust for him.

[Badhobz]

Originally Posted by Hondaracer

Don’t get the appeal of those McMansions whatsoever lol.. especially at those prices. A house that takes up 90% of the lot doesn’t have much swagger lol..

You can get into character homes on the west side of Vancouver for these prices. Homes that are infinitely more attractive and will likely retain value much better.

Like, even being fairly well versed in R/E I feel, if I walked into that house and you told me you paid 3.8 for it I’d have to laugh.

i cant find anything in vancouver west that we like. All i see is garbage like this

https://www.rew.ca/properties/476239...ck=map_sidebar

https://www.rew.ca/properties/473105...ck=map_sidebar

https://www.rew.ca/properties/471543...ck=map_sidebar

https://www.rew.ca/properties/433352...ck=map_sidebar

none of these are appealing at all. Ill take my mcmansions over these "character" homes that are tight as shit next to each other, old as fuck, and was purchased by the equivalent wages of a store clerk in the 70's / 80's.

[Gerbs]

Those are some shitty west side homes lol

[Badhobz]

everytime i see vancouver west homes, this is the only shit that pops up.

East van is the same story, tight as shit. The new builds have no character as they are 4700+ but each level is the same as my crappy bungalow now. I dont need 3 floors of 1500sqft. Need it to be spread out.. thus its richmond, delta, south slurry, or Langley. Potentially west van too but that bridge gives me PTSD from when i used to work there as a shitty bank teller.

https://www.rew.ca/properties/471905...erty_click=map

Just like this one in east van.. they want 3 million bucks. Looks like a modern day version of the vancouver special home right next to it, and it has no presence. Its the same garbage homes that my mom's crew used to buy when they were ironing shirts for 15 cents a piece.

[bcedhk]

You would think for 3.1 Mil, they could have spent 1k on a storage to hide all their crap for the photos.



That's like 20 pounds of liquid and crap hanging on a single shower pipe.

[bcrdukes]

I think the palm tree directly in front of the main entrance adds the extra charm, hence the price and maybe bad feng shui.

[lowside67]

Originally Posted by gurdeep007

Curious no the Mortgage rates these days. My renewal is coming up in, and best rate I have seen so far is 4.63% 5yr fixed.

Is it worth going 5yr or 3yr?

You'd have to be crazy to get a 5 year fixed at this point. The odds that rates won't have come down in 2-3 years are very low.

Either a variable or a shorter term fixed.

-Mark

[GLOW]

what's the shortest term big banks like TD et al are doing these days, 2 year?

[Traum]

Originally Posted by Badhobz

Best one we saw was this one

https://www.rew.ca/properties/477666...nt-richmond-bc

But they had a offer for 3.8 and the owner DIDNT TAKE IT. im like WTF? Because of the weirdo lot, small garage, and overall area, i wouldnt wanna give more than 3.5

Bro, don't the Shanghainese believe in Feng Shui too? or is that just a Canto thing? Supposedly, a house with a narrow opening and a wide/large backside is good Feng Shui because it resembles a vase, and vases are good at storing water, and water = $$$.



I like the Terra Nova area a lot, and being right next to the golf course seems like it should generally be pretty quiet. If someone really enjoys keeping to themselves, I suppose this corner unit would be perfect for that, but I'd much rather get a normal, square-ish looking plot myself.

[Badhobz]

i dont believe in anything other than the shit i can see and touch, but i gotta think about resale just in case i get canned. So yes i too prefer a square lot (south facing ideally, back to the north because of blah blah energy)

I still have chinese new year shit up in my house, thanks HK wife.

p.s. i wonder if i were to buy this house, and kept yelling PSYC !!!!!!!!!!!!! in the backyard every time somebody T's off, then maybe the golfcourse will pay me $$$ to leave?

[Gerbs]

I wonder if the houses behind you ever get hit when we hook the ball really hard off the tee lol.

[hud 91gt]

Originally Posted by lowside67

You'd have to be crazy to get a 5 year fixed at this point. The odds that rates won't have come down in 2-3 years are very low.

Either a variable or a shorter term fixed.

-Mark

What makes you think they are going to drop back to extreme lows?


https://assets.themortgagereports.co...-1971-2023.png

[Hondaracer]

It’s probably not going to go to “extreme lows” but over the next 5 years from this point I’d say you could be back around 3% or under on variable