Ah, the Granville Island Village. This condo development is looking a little shy, hiding from the rain this winter under a clean white sheet of plastic sheeting. This development is across the street from the previous post and was also submitted by ‘king leaky’.
Got a shot of a condo undergoing repairs? Send it in for the condo repair gallery to vancouvercondo.info@gmail.com
on Days of ultra-cheap money coming to an end@VultureBoy hit the nail on the head regarding 5 year Cdn versus 30 year US mortgages. Not sure why @patriotz
on Days of ultra-cheap money coming to an end@ Mortgage. Actually that sounds like a good deal. I think they probably want to bundle your mortgage into a
on Days of ultra-cheap money coming to an end@Mortgagee: "Hasn’t the BOC basically painted itself into a corner? Wouldn’t even just a modest increase cause large scale carnage?"
on Days of ultra-cheap money coming to an endCut the music! From Market Watch 14 minutes ago: One old-pro Vancouver Realtor told me, “Look, interest rates are going on Days of ultra-cheap money coming to an endHasn't the BOC basically painted itself into a corner? Wouldn't even just a modest increase cause large scale carnage? My
January 10th, 2008 at 10:24 pm
Let's see now – I buy a condo today, get a 40 year mortgage and still pay twice what it would cost me to rent the same place, pay off practically none of the principal over the next 10 years, and have no control over extraordinary expenses which I have to pay or else.
Where do I sign up?
January 10th, 2008 at 9:27 pm
Thanks for the info and sharing this story, exx. It is downright scary. Hope your parents' place is all good now.
January 10th, 2008 at 8:30 pm
They sure do. Not only that, but they'll also get a ridiculous bill at the end. I think my parent's leaky condo in Coquitlam takes the cake as far as cost goes though, they were just shy of $100K to repair their townhouse. I attended some of those strata meetings and everything was just shoved down your throat, the only decisions you could make were whether to spend MORE money on decorations.
Included in that price was landscaping that would make the area look wonderful. 2 years later and all I see are weeds everywhere, and tree stumps. Wonderful!
The amount of work that actually went into the repairs was laughable. The $100K went towards chopping down all the previously nice bushes & trees, covering the townhouse with the green scaffolding we've all come to recognize, and repairing *2* exterior walls. Then they just replaced the stucco with the equally recognizable post-leaky-condo rainscreen exterior. OH, and overhangs of course.
These repairs ate up all of the value in their townhouse, which they've owned for 15+ years, so if they were to sell now they'd break even. Ouch.
January 10th, 2008 at 7:46 pm
A naive question here. Do people live in their condos while they in a conditions such as this? If so, it sure doesn't look pleasant.