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February 2nd, 2008 at 9:03 am
“2-5-10 or 2-10-10 warranty is a responsibility of developers what apply after 2-5-10 is insurance from the part of maintenance” and they are useless warranties. The part the warranty covers is miniscule to the part the owner covers. For instance if the roof membrane is leaking the warrany contractor will come in and repair the hole or whatever, AFTER you have found the leak, removed the ballast and then they will do their five minute patch. Guess what? Finding the exact point of the leak is the OWNERS responsibility, NOT the warranty contractor, they will just say nope must be a plumbing problem or something else. Do you know how much it costs to remove all the ballast from a membrane roof to find a leak? Do you know that the perforation in the membrane is often far away from where the water appears in the building? Do you know that a concrete slab will carry water along cracks for dozens of meters before appearing in the Penthouse suite? Do you know that you sometimes have to gut the whole suite to find a small leak? Do you know that the warrany in all buildings does NOT cover this work? Believe me! Doing the work for the owners is a portion of how my small company makes a living.
Good Bucks!! Not covered by warranty.
February 2nd, 2008 at 8:28 am
Very good generic poster,
Finally you have put some contents in the thread,if you look in the genuine answer to BTK you can see I have mention the fact to check for refrances.
So your new merging point actually confirm that answer is right what you got here is more info. that’s what people come here to check contents about perticulars and the rest.
you say”you can not say whether or not he would have trouble selling or not”
I have talk to my friend about it he goes there are more than 80 units in the building he did not see people rushing to sell however he did notice 3 listing in 2005 those were sold,3 in 2006 those were sold,4 listing in 2007 those were sold.there are currently 2 listing one from december and one of them is just listed.
Over all why some one have to sell it for money while you are getting peace of mind with low maintenance fee and stability to rock your life and he got no plan to sell it for the rest of his life.
Anyway thanks for your post there was more content which fill little more than less.still insurance related issue is no body brought any solid back up I can add some more info to diffrentiate the Insurance spuzm.
2-5-10 or 2-10-10 warranty is a responsibility of developers what apply after 2-5-10 is insurance from the part of maintenance.
According to the new regulation Government put ban on some matterial which couse leak that way we can hope that future construction will be able to avoid leak.
Leak is a socail and natural issue we can force people,government,and developers but we can not force the nature the nature of miss universe and the nature of leaky condo.
February 1st, 2008 at 8:54 pm
Or repaired leaky condo too.
February 1st, 2008 at 8:52 pm
A lot of buyers think they can “low ball” a repaired leaky condo, because they know the stigmatism attached to leaky condo.
February 1st, 2008 at 8:50 pm
M,
It really depends on if the realtor and seller were covering up a known problem on the disclosure form and not revealing it to the buyer.
Sellers have to disclose water/leaky problems, grow ops and even if someone died in the house (more recently) Realtors and sellers alike have been sued for covering up known problems, like leaky condos in the past.
February 1st, 2008 at 8:32 pm
Since your friend has not sold his repaired leaky condo yet, you can not say whether or not he would have trouble selling or not. Of course, no leaky condos are abandon, owners either rent out the unit or still live there if they can’t sell it.
Sold a repaired leaky condo that was totally renovated and the inside looked like a show home. It took 4 months to sell in 2005 it was not overpriced as it sold very close to asking. 2005 was a very “hot” market, places sold within hours to a few days. Seems people are still allergic to buying repaired leaky condos, that is my point.
Your repaired leaky condo will appreciate in value, but finding a buyer who is willing to buy a repaired leaky condo is a little tougher than most sellers think.
February 1st, 2008 at 11:07 am
Your point stay as your I have no intention to deny them,you are right,you are correct but does not reflect the idea and view point,your point does not collide with my answer.I am not going back to explain but farther.
1.There is no problem in buying and selling leaky condo.
2.there is no problem in getting appreciation on new or old
3.there is no abandon building in the city because of leak all are occupied.
4.One of my friend bought a condo in 97, 615 sq.ft. for $64.000 later it start leaking so far he has paid total of $4,000 from his share, his maintance fee gone up by $27 in 8 year and current market value of the unit is $250.000.
5.I am not a realtor so I don’t sell any leaky condo.
February 1st, 2008 at 11:03 am
Regarding the property disclosure form, it can’t really be relied on– if a buyer relied on the property disclosure and then later tried to sue the seller for something that the buyer could have found out from other sources, or that the seller may not have understood, the courts won’t (and haven’t) granted relief.
February 1st, 2008 at 9:59 am
I don’t think it is me not getting the point and your way off topic by being crude to the point of showing your age again.
There is a stigmatism to selling a leaky condo period whether this is revealed in the minutes or on the property disclosure. Some leaky condos will eventually leak again over time due to bad original architectural design. People are aware bad building design and leaky condo syndrome and are still fearful of buying them.
But…hey, if you think I don’t know anything about selling a leaky condo and your an expert at everything. Good luck with that.
February 1st, 2008 at 7:53 am
Do you have any girl friend? does she #### every month? if you can manage her life time and lick the same spot over and over than what is your problem?.You are not getting the specific point.
Foreclosure statement will show restoration but the enevelop has been replaced what would be the current status of the building? what would be the assessment value going to show up every january?.
Point above I am not yelling just it is the way argument is.BM
February 1st, 2008 at 6:59 am
Given your answer you must be in your early twenties.”
that is not the right way to answer you must post your own opinion
LOL…You will never tell anyone on this blog how old you are, but people can tell by what you write.
February 1st, 2008 at 6:50 am
“After the repair I said there will be no defect to show in minutes got it.”
Sure….after the repair…..minutes will reflect PST refunds due to the restoration, any unresolved billings, etc. If you think once the restoration is finished and the problem never gets mentioned again in the minutes two or more years later your sadly mistaken.
Reread my post, I said If your condo has been through a restoration, you have to state so on the disclosure.
You have to state on your disclosure form your condo has been through a restoration, no matter how long ago the restoration took place. If you don’t you can get sued.
Know what a disclosure form is?
January 29th, 2008 at 9:59 pm
Given your answer you must be in your early twenties.
Generic Poster,
there is no recession here right now still you can lose your job tomorrow may be not.
Any Industry can go out of bussiness tomorrow may be not
May be I will die tomorrow but if I survive how to spend the rest of my life or your life that’s big question.
If there is a recession it doesn’t matter if you are a home owner or tenant that will effect both equally in case of total economy collapse.
Question is who is going to lose job owner or tenant? and who can keep up the monthly payments home owner or tenant?
So what is big deal here?
you say”Given your answer you must be in your early twenties.”
that is not the right way to answer you must post your own opinion.
From the leaky condo BTK need to know if that is good to buy?but in this case he already know that condo is leaky.
After the repair I said there will be no defect to show in minutes got it.
January 29th, 2008 at 9:36 pm
“I haven’t done all of the math but I can tell you from experience that anyone who bought gold is 2002, and likewise sold the US dollar short that same year, is a lot wealthier in real terms than any of their friends who chose a different investment alternative.”
January 29th, 2008 at 10:46 am
“Do you understand what happens to consumer confidence when there is a recession?”
“Nothing much because if the country is in recession it’s depend on what part of the economy is being hit this is just a fear you know why?.
1.If some Industries dies or people loss their job that’s a nature of life and nature of bussiness.how ever world is most advance you can still have shelter and food because of socail structure and government system. rest is a nature of all bussiness and our buying habbits are meant to keep those things in mind in advance.”
Given your answer you must be in your early twenties.
January 29th, 2008 at 10:42 am
Ever try to sell a leaky condo that has been fixed? Takes a long time….a lot of stigmatism attached to “leaky” in the minutes. If your condo has been through a restoration, you have to state so on the disclosure.
Krrsh, you should buy a leaky condo, pay for the repairs which will go above estimate and try to sell it at a profit later. Let me know how you make out.
January 28th, 2008 at 3:11 pm
I agree, but I think that responding to trolls just reinforces their behaviour. The problem is a significant number of the comments are either by a troll or responses to the troll. It makes the blog a bit less worthwhile to read when you have to wade through all the satv BS. I admit that I have contributed to the feeding of the troll but I am abstaining from here on.
January 28th, 2008 at 1:52 pm
“My landlord is outside shoveling the snow. Maybe I should make him a cup of Ovaltine.”
You should. He might not raise your rent this year
January 28th, 2008 at 1:47 pm
“One commentator said that 60 Minutes has now virtually legitimised people walking away when faced with the foreclosure scenario.”
Walking away IS a legitimate and legal option for many. In fact “walking away” is a tactic used everyday in the investment world so why is it so egregious when a homeowner does it? The consequences consist of a horrible credit rating for some years. “Whatever,” say many homeowners who don’t and never did mind renting forever. So who was really stupid in this whole mess?
January 28th, 2008 at 1:34 pm
On top of the expense, buying a new condo, is so much work and stress.
ho hum
My landlord is outside shoveling the snow. Maybe I should make him a cup of Ovaltine.
January 28th, 2008 at 1:27 pm
OMG what a bunch of whiners. What did they expect? The same story has played out in nearly every new development in the city. I guess it’s a good thing we have krrish around here, sometimes I forget how stupid people can be without him to remind me.
January 28th, 2008 at 1:24 pm
I read that 60 Minutes had an article about the sub-prime meltdown. One commentator said that 60 Minutes has now virtually legitimised people walking away when faced with the foreclosure scenario. Did anybody see this?
January 28th, 2008 at 12:30 pm
This is an interesting thread on RET which happens to cover one condo development, it is something to see the change from anxious happy buyers waiting to move in, change to people disgusted with the quality, and defeciencies of there “Brand New Condo’s”. Imagine buying a new car and having to hire your own body shop, upholstery, repairmen, and interior finisher the day you drive it off the lot. Would anybody actually do that? Well apparently if you pay top dollar for a new condo that is par for the course. This is “rational buying”?
http://tinyurl.com/2awfss
January 28th, 2008 at 11:54 am
Arguing with Krrish is kind of like throwing rocks at old people. You know you aren’t supposed to do it, but it’s still lots of fun.
January 28th, 2008 at 10:57 am
Did I miss something, why is Krrish so upset? Did he just get assessed and find out that his ‘investment’ isn’t appreciating the way the thought it would be?
And Krrish, you calling Strataman an idiot is like an ant calling an elephant small. You’re beyond simple. Most people with your intelligence live in special homes or require assistance to function properly. Can you even tie your own shoes? Does the government subsidize your pay so that you can do ‘meaningful’ work?
January 28th, 2008 at 10:21 am
1.There are condo units that’re about 14 years old that need envelope work downtown right now.
Are these still a great investment Krisshh? Are the “wiseman” lining up to buy them?
YES that is great investment I have answer that before I am going to repeat for your satisfaction.
1.First of all you can get entery in the heart of downtown for cheap price.
2.This building will be assessed with upto date price because of the new matterial and construction cost as explained on last page.
3.On strata minute there will be no defect for future buyer,I have advice you if there is fear of leak is equal to yours, you can measure the strength of fear by accessing mls listing. do you know what is that?
Simple Understanding:There is a huge diffrent between 32 year old enevelop and recent enevelop.
4.If your building does not carry 2/5/10 warranty still there is a Insurance other than 2-5-10 or 2-10-10 even in the old buildings that’s what you need to check before you buy, if there is any individual leak to the unit no matter what that cost to fix your unit/ will be fix without having you pay anything,On over all problem to the building ,some part of the insurance will be use to fix anything reamaining part will be share by all owners.
For the example above by starataman where maintaince fee increased by 9% in last three year means $9 per 100 for individuals.
For you partial question” Are the “wiseman” lining up to buy them?”
No,wisemen does not lineup wisemen like to rent so they can lineup to rent leaky condo but can not line up to buy new or old and they usually like to scare other people.NEXT QUESTION.
2.If no, does that mean only new units appreciate?
If only new units appreciate, won’t these new units be ten years old in ten years? Are you saying that we should only be buying new units?
All units appreciate despite leak or new assessed value have nothing to do with leak assessements are meant to measure Land Value and Building Structure that’s why when you do your Individual Interior or Enevelop you can notify the city or eveluation personals they will measure your stuff through their looks,age and or through receipt and year of renovation.
For example if you have spend $10,000 to change your counter top or appliances your unit will cost $10,000 more than your neighbour with same old stuff.next question.
3.To you supply and demand means nothing because past performance has been good, don’t you understand how dumb that makes you look?
Supply and demand is a main source that’s why I repeat too often who and who is buying,how many more are coming etc,the confusion is some new poster get confuse by reading brand new comments by the way oppps just forget it,Ok even in this thread I have explain that theory of demand and supply when premium goes higher to stress the carrying cost of any bussiness,than next to drachen where bread prices goes up to $30 it is possible but that looks awkward actualyy drachen shouldn’t be comparing bread with construction cost in housing sector but otherwise if all people replace their 3 time meal with bread $30 per bread is possible.
For example why water is cheap than fuel?. the thing is bread is meant to serve all sector of socaity, so people won’t die with hunger,even poor people can easly fill up their tummy with bread.
4.Do you understand what happens to consumer confidence when there is a recession?
Nothing much because if the country is in recession it’s depend on what part of the economy is being hit this is just a fear you know why?.
1.If some Industries dies or people loss their job that’s a nature of life and nature of bussiness.how ever world is most advance you can still have shelter and food because of socail structure and government system. rest is a nature of all bussiness and our buying habbits are meant to keep those things in mind in advance.
As I have mention earlier we can not write a book most of time is a hint poised to go up or down so what you need to check is referances through your own source. you can pick up a breif discription then talk to related institution, firm or what ever for example.
1.first of all you can search that building number in mls system.
2.you can contact the management
3.You can contact the insurance company what product of insurance they do offers.
4.anyway if there is still more just put it in or reverse perticular points.If you miss your stuff some how in any thread goto next post say O.T.then post anything anywhere.
Sorry I am might getting late for work I will pick up any rebound tonight actually my breakfast time has been lost.
January 28th, 2008 at 9:02 am
Since Krissh was too overwhelmed yesterday, and has asked for questions only. Here are 4 questions.
It’ll be interesting to see if you can answer them or just repeat your ridiculous gibberish.
1.There are condo units that’re about 14 years old that need envelope work downtown right now.
Are these still a great investment Krisshh? Are the “wiseman” lining up to buy them?
2.If no, does that mean only new units appreciate?
If only new units appreciate, won’t these new units be ten years old in ten years? Are you saying that we should only be buying new units?
3.To you supply and demand means nothing because past performance has been good, don’t you understand how dumb that makes you look?
4.Do you understand what happens to consumer confidence when there is a recession?
January 28th, 2008 at 8:46 am
The only thing that surprises more than the ridiculous RE market in Vancouver is that posters here continue to argue with half wits like kkkrish/satv and dosh. These people have absolutely no clue what is going in the world beyond their warehouse/longshoreman/construction jobs and what they see on the local news. The frightening thing is they are not a minority in this town.
January 28th, 2008 at 8:37 am
Krrish, you don’t seem your normal chipper, bullish self, in fact I sense an edge in your tone I have not seen before. Are you getting a little stressed because reality is settling in?
January 28th, 2008 at 7:03 am
Krrish,
What you don’t seem to understand is that it’s about supply and demand. In order for the market to work, new people need to be able to enter it. Eventually Vancouver will run out of people who can horse trade by selling their old places and buying new ones, unless there are new buyers available.
Even if you think Vancouver is “the best place on earth”, it isn’t the ONLY place on earth. If people can no longer afford to enter the market here, they have options. They can either spend their lives renting, or they can leave.
And trust honey, leave they will. Van’s nice but right now housing prices are damaging the city.
Oh jeez. WHy am I arguing with a Dalek?
January 28th, 2008 at 6:59 am
Hey, is a medak like a Dalek or something? Wow, THAT would be cool! I can just see Krrish waving his arms around screaming “APPRECIATE! APPRECIATE! VANCOUVER PRICES WILL NEVER DROP”
January 28th, 2008 at 6:54 am
Dude,
Whatever they have you on, either boost the dose or cut it in half.
January 28th, 2008 at 6:53 am
Solipsist:
I like to think I have that effect on people.
Incidentally I don’t believe he had a 6 pack in the 70s either.
January 28th, 2008 at 2:00 am
“Today, first-time buyers face more challenges, but they also have more opportunities and choice.”
This line was placed in the middle of the Simpson article. I kept going back to it, trying to figure out what it meant. Nothing that he wrote backed up his claim of “more opportunities and choice”. I guess he is just another clueless boomer.
Simpson is clearly worried about first time buyers. It doesn’t matter what he says, once the speculators get spooked, the FTBs will need a massive drop in prices to start buying. Local builders are going to go under.
January 28th, 2008 at 12:29 am
They’ll get the message when it comes time to sell their houses – due to downsizing, financial needs, or lifestyle issues – and they find out that they can only sell them for what young people can afford to buy.
Oh BTW, the people who are just sitting in their houses and feeling smug are not responsible for the high prices. It’s the people who are buying. A seller cannot sell his house for more than a buyer is willing to pay for it. Just say no.
January 27th, 2008 at 10:23 pm
yes and hiding your name also yeah cheer up loser cheer up.
January 27th, 2008 at 10:20 pm
You’re losing it Krrish! – haven’t a clue WTF you’re trying say, but perhaps I’m the fool for even giving a damn.
January 27th, 2008 at 10:04 pm
With large bag of popcorn this is very interesting too see that bears don’t even realize their dream which is OVER.
The damn Interesting part is that the defeated medaks(strataman shame on you man you have cross the mother fuc#ing limit you idiot @60) are still jumping.Rediculas is that your orignal name? you son of Bi#ch take your sis back.
January 27th, 2008 at 9:47 pm
Peter Simpson’s job is to be an advocate for the home building industry so I can understand why he positions his argument the way he does. It’s a pretty sad argument though. Essentially he blames the victim. “Can’t afford? Must be because you’re not working hard enough?”
I’m super frugal and have more education and more work experience than my parents ever did it my age. I’m doing what Peter says I should do — working hard and spending smart — yet I have no chance in this market. Same story for a lot of my friends.
I hate to speak broadly but I get the sense that Vancouver’s boomers don’t understand the burden faced by young people now.
January 27th, 2008 at 9:42 pm
Krrish is like herpes.
Even if you’re good he won’t go away
January 27th, 2008 at 9:11 pm
So they’re predicting affordabilty will improve in the vancouver housing market in 2008? Great! I guess its either that or it gets worse. 50/50 chance of being right!
January 27th, 2008 at 9:09 pm
Hey raaaaaaaaandle. Did you know the moon is made of solid gold? And moon-gold is worth 8 bazillion earth dollars per gram! You should go there and check it out! Next year it will be worth 200 trizillion earth dollars per imaginary moon unit! Thats an infinate amount of appreciation in just one year! Buy now! Buy High! (are you high?)
January 27th, 2008 at 8:54 pm
MR:
yet another drive by cut and paste gold bug pump?!
your credibility is smaller than this period.
January 27th, 2008 at 8:48 pm
Raandalblog- $6250 an ounce? Oh yes, most definately. In the year 2525.
January 27th, 2008 at 8:40 pm
And why the hell are the newspapers running sales pitches to ‘just buy’ written by builders. Bunch of greedy f**ks, I feel sorry for first time buyers today.
January 27th, 2008 at 8:38 pm
Jadeeast, good find but that article/sales pitch was an irritating read. I wonder how it would have changed had he bought his first house at the early eighties peak right before the crash?
January 27th, 2008 at 8:31 pm
yeah if you play with the troll your hands will get all icky and goopy…..
January 27th, 2008 at 8:30 pm
THE TRUTH IS OUT THERE !!
January 27th, 2008 at 8:23 pm
I skipped to the end of the article to discover this about the author:
Peter Simpson is chief executive officer of the Greater Vancouver Home Builders’ Association
scullboy – that made me snort like nothing has for a while. Maybe it was the Rigamarole Red.
January 27th, 2008 at 7:44 pm
Jadeeast:
He’s not even a reporter. It is so disappointing to me that newspapers, even ones so low class as the Sun sell out like that. I guess if you spend more than a certain dollar figure you’re entitled to write your own self serving crap and package it up as if it’s unbiased…