Thieves working at open houses
No, not the Realtors®. Thieves have been posing as prospective ‘buyers’ and stealing small valuable items from homes being shown for sale including jewelry and electronics. There have been a rash of thefts from Langley open houses according to a bulletin sent out to all FVREB Realtors. I wouldn’t be surprised to hear of similar problems in Vancouver. If you’re holding an open house you might want to keep an eye on your stuff:
Multiple thefts at Langley open houses and private showings
Langley RCMP are asking members to be on the lookout for suspicious “buyers” targeting showings in the City and Township of Langley and to remind homeowners to secure their valuables.
Between May 2 and 10, thieves stole jewellery (rings, necklaces and watches), designer sunglasses and electronics on counters and in drawers. No suspects have been identified.
Please report any suspicious activity to the Langley RCMP at 604.532.3200.
Hat tip to chilled for the link.
May 20th, 2010 at 9:52 am
@Anonymous: It's just like a bribe, only legal! Hey, wait, why is it legal?
BC quarterly sales drop more than 25% | Vancouver Condo Info Says:
May 20th, 2010 at 1:37 am
[...] points out that the phrase ‘CMHC is forecasting’ is a perfect anagram for ‘Comic things, farces‘ [...]
May 19th, 2010 at 11:27 pm
Me thinks something was messed up in the listing system today.
Wait for an onslaught tomorrow?
May 19th, 2010 at 11:25 pm
You think our Olympic mascots were dumb looking? Move over:
http://www.guardian.co.uk/uk/2010/may/19/london-o…
May 19th, 2010 at 11:17 pm
@paulb:
where are today's inventory totals? Thank you
May 19th, 2010 at 11:01 pm
@domus:
What's the listing today btw? This is where we were a five weeks ago:
Inventory Says:
April 12th, 2010 at 11:42 pm
April 12,2010 = 15462
May 19th, 2010 at 10:42 pm
Surely VIP investors get their units below market price.
May 19th, 2010 at 9:40 pm
Didn't Larry "Husba" Campbell buy two (Boom Boom) of the OV condos? If a smart guy like Larry planned to flip the OV there's got to be a lot more out there..
May 19th, 2010 at 9:13 pm
Re: the OV sales:
- The paper today said that the sales over the weekend were not yet "completed" so who knows how many of those "sales" will actually pan out.
- None of the owners (either pre-sale or recent buyers) have taken possession of their units yet. I think they are still working to get the suites ready.
May 19th, 2010 at 9:08 pm
June rate hike still likely amid Europe turmoil: analysts say
Read more: http://business.financialpost.com/2010/05/19/june…
May 19th, 2010 at 9:07 pm
@boomingVancouver:
Bad grammar make you sound like a dumb, dumb.
May 19th, 2010 at 9:00 pm
Here's some bull facts:
1) Bond yield continue to slide on greecian debt problems BOC sez no rate hike ever again
2) Millions of rich greek come to Canada to open bad pizza and pasta restaurant and buy condo in Vancouver
3) Robbing bank make people wealthy so Whalley crack head can now buy condo bear!
May 19th, 2010 at 8:16 pm
The back side of the steep multi year climb, will be a long, long, long, tumble. Just put a mirror on the graph, and get a clear picture of what the next 2 decades will be like.
Imagine if you will, there will come a day when nail salon “technicians” turned Realtors will no longer be earning as much as doctors.
May 19th, 2010 at 7:47 pm
Reports tonight that the BoC is no longer tightening in June due to deflationary worries. Bond Yields plummeting, Sales spiking, inventory stalling…..what a day to be a bull!!!
May 19th, 2010 at 6:59 pm
"Tomorrow will be better for sure." -Domus
I agree. Take today, for example…
For the past three days, I had absolutely ZERO auto-updates from my VOW site for the Tri-cities area.
However, at 5 o'clock or so, I checked me email, and there it was.
106 (one hundred and six!!) listings for SFH alone!
So, Domus, et al, I would suggest that today's high sales numbers are merely "noise".
Y'know, like those "breaking-up" noises like the Titanic made…
May 19th, 2010 at 6:23 pm
paulb
don't lament my dear friend
if this is as bullish as it gets, who gives a pututi….
i'm still looking for a 500+ list day and a few days of sales below 125
bring it on
let see what tomorrow brings
loads of folk are commenting on the huge amount of new for sale signs…betcha developers/realtors are getting a tad nervous…only the beginning
the low rate folks are still out there running around and the buy before hst group has another solid month to go too
then what?
we know exactly what
expect sales for may to come in below april and listings way higher
my guess is prices are down down down for the month of May
May 19th, 2010 at 6:17 pm
Looks like that's about it. And that wasn't meant to be a happy face. lol
May 19th, 2010 at 6:10 pm
New Listings 269
Price Changes 166
Sold Listings 200
May 19th, 2010 at 6:00 pm
Talked to scullboy about cookbook he's writing. Sound like good business venture since scullboy failure in everything else must be good at cook. His recipe sound really bad though so anyone have advice? Should sell my a condo and invest with scullboy on dady's lobster truck?
May 19th, 2010 at 5:29 pm
VHB Says:
May 19th, 2010 at 1:22 pm
@Chilled: Carefully read the last line of the post. You got your hat tip!!
+++++++++++++++++
Oooopps!!! My readin' is goodly but my comprehension skills suck.
Back to my English as a First Language class.
May 19th, 2010 at 4:17 pm
Think about it: a sell/list above 60% and we think it is a bullish day!
It used to be the case we would consider it bearish just a few months ago. We have come a long way.
We might add only 50 or so additional listings to inventory today. Tomorrow will be better for sure.
May 19th, 2010 at 4:10 pm
This market is akin to a 30 car passenger train going over a high trestle that has been washed out.
The locomotive and first car have plunged over the edge and are plummeting towards the rocks below while the people in car 15 are sipping their lattes completely unaware of the impending doom but even if they were they would be completely helpless to avoid it.
Two weeks ago the locomotive went over. It won't be long before the whole train is in a wreck at the bottom of the ravine.
McLovin
May 19th, 2010 at 4:05 pm
(#54)
"How about wealth creation debate be taken to Chipman's site!!! We don'y need endless debate for days here."
—————————————————————
Or better yet, take it to the Johnny Horton blog. They'll do a number on it complete with pictures of animal porn and disfigured persons.
May 19th, 2010 at 4:00 pm
@paulb: It's been a while since it's been a bullish day like this.
I posted a couple of days that many people with 90 days pre-approved mortgage rates who originally resisted are jumping in due to the price drops (drops still high today).
A condo I visited exactly 2 months ago was listed at $450k. I suggested to the realtor I could potentially put in a offer for $430k to gauge reaction and was promptly turned down. It's now been re-listed at $435k and I got a call from the realtor last week telling me "good news – the seller is more motivated now and he believes $425k would seal the deal".
I still have my low 5 year fixed quote for another couple of weeks, but no thanks. However, I would bet there could possibly be a greater fool out there who's eager to use their quote before it expires and thinking they just "saved" a bunch due to the price drop on the unit.
Not everybody out there, unfortunately, is keeping tabs of inventory levels. All people hear and read about is how strong sales are, which is true. However, since Group A (great rates, maximizing borrowed money) is out of picture post April 19, this Group B (still locked in to great rates, trying to use it on the recent trend of price drops) is still lingering around keeping sales afloat.
We all just need to focus on two things – the increasing listings and a positive net inventory. The sales, although high, are still not much more than any other year given this buying season.
On another note, in Burnaby Jewel II and Affinity II (both more noteworthy releases) opened their presales this last weekend. No fireworks, lineups around the block, nothing even close to their respective phase 1's. Not to mention that Jewel I is close to completion – look out for a flood of listings once people are able to take possession.
The new Wall Center in Richmond, given it's location and appeal, was supposed to be easiest investment "opportunity". Owners were able to take possession late last month, and there is already 20+ units for sale. Speculation have been high gear for the last couple of years – does anyone know if the original pre-sale buyers of the OV have been able to take possession yet?
And the last side note – InterUrban in New West has now changed is being sold by Mac Bulk. Building is complete, only 50% sold. It's been a while since Mac Bulk came to surface.
May 19th, 2010 at 3:55 pm
#58 T. so their saying that inventory, building starts and prices will continue to move up? I think someone is spiking the 'Loon – Aid' with LSD. Well on the other hand it was an article released by the Vancouver Bullshit newspaper.
May 19th, 2010 at 3:49 pm
@JP:
Thanks for the laugh, JP. As others have suggested, try picking up an introductory economics textbook. There's an old saying that goes something like "better to be thought a fool, than to open one's mouth and remove all doubt."
I've just gone around the office asking my colleagues to lend me $20 each. I've already created $80 of wealth.
May 19th, 2010 at 3:37 pm
Click the green arrow on your own posts…you will get a nice surprise
May 19th, 2010 at 3:36 pm
It's obvious bear goon squad running around langley stealing from wealthy homeowner. Sad little bear try to make buyer scared but will backfire. Buyer still confident and going to open house even with your threat bear gooons.
May 19th, 2010 at 3:35 pm
For all we know, none of the OV condos could have been sold. What if all of the buyers finances fell through and deals couldnt be completed? I dont think its fair to call a sale a sale until all subjects are removed.
It's like someone from craigslist wanting to buy your items and e-mailing "Sure, I will come pick that up in an hour" and they don't show up.
May 19th, 2010 at 3:33 pm
@Van MD: Here are the monthly reports. You can use these to find the sell/list ratios you desire.
May 19th, 2010 at 3:30 pm
@paulb:
"Sales are holding their own"
No worries, I've read that right before the bubble burst in the US, sales were also high. So, wait and see.
May 19th, 2010 at 3:26 pm
@JP:
"If you rob a bank it creates instant wealth. "
Wrong. It transfers from one party to another. The net sum is zero.
May 19th, 2010 at 3:23 pm
New Listings 200
Price Changes 133
Sold Listings 141
Sales are holding their own
May 19th, 2010 at 3:17 pm
"Apparently those 36 units sold over the weekend is actually more like 15. But I'm sure Rennie's speech tomorrow will be just as positive as usual."
Posted by awvan on SkyscraperPage.com
May 19th, 2010 at 3:17 pm
@Gordon C
"And Patriotz as you well know, Adam Smith’s Wealth of Nations (published 1776) was and still is criticized for Smith’s limited definition of “Wealth”.
I wonder what Adam would have thought of credit cards, debit cards and home equity lines of credit?"
Probably rolling in his grave. In an economy based on sound money, growth is based on production, not debt. Borrowing is to fund viable capital projects that will increase competitiveness and provide returns, not for consumption or speculation. Debt and leverage is not wealth, and an economy based on money that itself is a form of debt is on very faulty foundations.
May 19th, 2010 at 3:14 pm
Neither selling a house nor robbing a bank creates any wealth. It transfers wealth from one individual to another. If it created wealth, me and my brother would be selling each others houses on a daily basis, and banks would place "open for robbery" sign in front of the place.
The only person who'll ever agree with you on the whole internet is rob chipman. But he's a realtor, so we're not even sure if he says trading houses creates wealth because he really believes it and wants to convince us or because he wants to convince himself.
The only thing that creates some kind of wealth in real estate is building it. Take x$ worth of building material, put it togheter and build a house that's worth >x$ and you've "created" wealth. That house can then change hands a gazilion times for whatever price, it won't create any wealth, merely make some go from one hand to another. That is why most people consider realtors as highly they do leeches.
May 19th, 2010 at 3:08 pm
Just received this tweet from Polygonhomes:
#polygonhomes if ur hearing reports of sales slowing & hoping to get a better deal by waiting, think again. (via @VancouverSun) http://bit.ly/dulKPr
May 19th, 2010 at 3:01 pm
JP:
I advise you to stay away from economics forums until you complete your remedial course on GDP accounting.
JP's Remedial Topic #1,223:
Capital gains are not counted as income in GDP accounting (income approach). Can you explain why?
May 19th, 2010 at 2:52 pm
I'm done
May 19th, 2010 at 2:51 pm
@ VHB:
I take your point. I'm considering wealth acquired through capital gains or equity built. I believe what you are talking about are capital asset mechanisms that generate new money.
@ Patriotz:
You're obviously too stupid to understand my point.
May 19th, 2010 at 2:44 pm
How about the wealth creation debate be taken to Chipman's site!!!We don't need endless debate for days here.
May 19th, 2010 at 2:23 pm
@JP: Please try to understand the distinction between *creating* wealth for society and *transferring* wealth between people.
Transferring ownership of existing assets from one person to another does not *create* wealth.
May 19th, 2010 at 2:21 pm
@JP:
Be sure brain is engaged before applying fingers to keyboard.
I mean, seriously.
May 19th, 2010 at 2:20 pm
@ vibe:
Does robbing a bank not make you wealthy? My comment was not on ethics. It was on how land ownership has a direct correlation to wealth. If you rob a bank it creates instant wealth. Last I heard wealth is, generally, measured in currency. What would you say increasing capital is? You’ve basically proven my point. Take the blinds off and think about what you’re saying. Thieves/land developers/realtors can all be wealthy people.