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Buy a house, get a free car.

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93 Comments

The REBGV stats for June 2010 are now available. If a month ago was a good time to buy some Vancouver real estate, than right now is an even gooderer time! If you were shopping for the benchmark home a month ago, you can now buy that same house and get a FREE CAR with it! Best Place on Meth pointed out some of the more dramatic drops and we’ve put together this handy guide for suggested cars you can get with the price difference.

The overall REBGV benchmark price for all housing in all areas is down just over 1 percent which is a little over $10k. You’re not going to get a brand new car for that much, but you could get this sweeeet 1992 Toyota Supra replete with go-fast fin and still have enough left over for a great little road trip:

The big drop for the month was in the benchmark house price on the west side. You’re not going to want to drive that supra up to your west side bungalow, but with about $90k extra to spend you can arrive in style with this 2005 Aston Martin DB9:

The dramatic percentage drop prize goes to West Vancouver Apartments, where the one month drop saw a loss of $77,664 or 11.5%! Go pick yourself up an apartment and a 2007 Maserati:

Crashcow pointed out that there’s even more drama in the West Van Apartment benchmark if you go back another month to the April Peak.

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xnedra

I think I've got an even better rent deal that most of the posts I've seen on here.

It's in New West, but in the Queen's park area (super nice and close to all amenities and skytrain.) Also is 1 bed but at least 700sqft.

$750 a month,

includes heat, hot water and full cable

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Bilbo Bloggins

@CashedOut: Forgot to address your high rent question. Compare rents in Vancouver to Toronto or Calgary. High end condo like Waterfront in Eau Claire (Calgary) is 2850 for 915sf. You can get into Shangri-La 1100sf for 2850. Yes, living in downtown is expensive everywhere. Think 2850 is a lot to pay for rent? That is cheap. Consider mortgage payment would be easy 4600. Amateur condo landwads don't know how to calculate their ROI. They don't factor in holding costs, property taxes, or strata. Everything is dependent on finding that sucker buyer. Yet they wont be able to handle the worse case scenario. Which is holding the darn condo for 35yrs while losing over 2000 a month during that time. Rents are dependent on local incomes. They are not guaranteed to rise over time. But you can be assured that taxes,… Read more »

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laneway

@CashedOut:

Rent $1350, 2 bed, 2 bath 977 sq feet

6 year old building

market value est $400k

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Bilbo Bloggins

@CashedOut:

Sure, my numbers

2550 rent. Mkt value 1.25M

Renting gives you huge intangibles.

Mobility is the biggest one.

I hate fixing things. Once the condo I'm in hits 5yrs or more

its time to move. Ya call me a leech.

Hey I didn't set this system up.

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superduperbulltime

Well bear now that Canadian in running for podium finish in TDF real estate market about to take off like Contador after cobble stone crash. Bear will be lying on side of road in pain like Frank Schleck after market double in next 3 year. Just like TDF you never know what can happen. Ryder Hesjedal was domestic for Vandevelde two days ago bear and now maybe podium in paris.

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realpaul

Royal Le Crap article soft sells the obvious.

http://www.vancouversun.com/business/House+prices…

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chip

@Man does registering screw things up:

"Can be viewed evenings weekdays or weekends during the day. "

Can also be seen if you shade your eyes and squint really hard.

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Man does registering

Man this it too funny;

http://vancouver.en.craigslist.ca/nvn/apa/1829569…

Yeah, I'll live in your tool shed and pay you too!!

Can I bring my kitties?

http://www.youtube.com/watch?v=j-_34Uflm5Q

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zug zug

Also to compute price to rent I think you should subtract the strata fee from the rent, to show what you would actually save by buying. For me it is something like $150/mo, and the places sell to lunatics for 180-200k, so the ratio is 225-250x. Not that I would buy the place.

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zug zug

Abbotsford, $950 for 950 sqft includes heat.

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Anonymous

@CashedOut:

Westend 1 Bedroom $1035 700sqft.

I would guess $350-400K for an equivalent building in the area.

Don't forget the maintenance fees.

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CashedOut

@Bilbo Bloggins: Do you really feel like you're saving so much money renting? Vancouver is still a damn expensive place to rent, granted at about 50% the cost of owning.

I don't feel like we are banking so much cash… and at 50% the cost of owning I can't figure out how the home-debtors are even meeting expenses on a monthly basis!

I'm just wondering though, what are ppl actually paying to rent and how what do you figure the market price of your rental is? I'll go first: Area and approx square footage would be interesting too…

Yaletown, 1200 sf, $2400 /month, est Mkt Price, $800k.

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Chilled

I'm almost starting to think that this JUNIUS thing is some sort of split personality thing, a 'Carrie' thing, a typical day on the downtown eastside.

But then again, there could be two Junius' and for that I apologize. Handle jacking is as bad as driving up the shoulder and cutting in.

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Bilbo Bloggins

@Mike:

Thoust r right. I only bring up the brand new SUV comment as a comment on how liquid and better off I am currently renting.

Will likely lease (I have a business to write the expense off) or look at a used vehicle from the States.

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Chilled

63 anonymous Says:

July 6th, 2010 at 7:03 pm

Mish has something to say about the housing market in Canada:

http://globaleconomicanalysis.blogspot.com/

+++++++++++++++

I saw Garth holding Mish in a headlock, extreemly pissed for nary an attempt to paraphrase.

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junius

vreaa

you tell him, and thanks!

he's been tailing me around for weeks

junius

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Anonymous

Registering for a user account on this site will prevent other people from posting under your user name.

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vreaa

@specuskeptic: Thanks for the CBC-clip link.

Love the flipper story. "He's invested in two other houses."

Yes, of course, pyramiding.

Clearly the whole house of cards has to collapse for most people to actually get it.

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Animal Spirit

@specuskeptic: love it with the vuvezela. how come it reminds me of the sounds of mosquitos on a beautiful Northern Ontario morning? http://www.soundboard.com/sb/Mosquito_sounds.aspx

hmmm – Mosquito animal spirit invading the market – could be an interesting time for flipping RE agents.

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junius

ho hum Pops.

Your call on the Vancouver housing market has been dead wrong since day one.

Go borrow your brains out and leverage up your winnings.

junius

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Junius

junius junior

You have a lot to learn. I'm the alpha male here!

I am omnimpotent!

Junius

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junius

Junius #70

Go buy a house.

Or two.

Take a hike.

junius

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junius

Junius – get lost.

You have nothing to add to the discussion here. Go get yourself a date on your eHarmony account.

junius

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Junius

junius #56,

You don't think. You just copy.

Get your own name asshole.

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Superfly

Interesting, only 250 sales entered Mon/Tue. No blip due to the Canada Day holiday. We are currently running a monthly rate around 2500-2700.

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