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Saving you the HST or just scared to build?

97
97 Comments

I understand this is only a small subset of a small market and I am not saying this is the case for all of Vancouver

One of the area’s I have been watching for a while is the Capilano Highlands area of North Van. While I have seen price reductions (7 of the 18 current listing have dropped prices since July with an average drop of 3.5%), what is most interesting to me is the 3 listings that are not built but are only at the planning stage:

  1. v853152
  2. v855926
  3. v854980

Are these builders trying to save you the HST or afraid to build these homes on the teardown properties they bought for fear of a degrading market, or am I just reading too much into this?

They are all different builders and different realtors:

Don Eiler’s Listing

Virani’s Lising

Peter Ebner’s Listing

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patriotz
patriotz
9 years ago

@Anonymous:

You misunderstood me.

What I said is that if the builder had built the house first and then sold it on the open market, he would have to absorb the HST, because he would be competing with existing houses not subject to the HST. Like all sellers of new properties.

By selling the lot(+teardown) first and then the building, the HST on a finished house is avoided. But the benefit goes to the builder, not the buyer. The listing of course is implying the the HST savings will go to the buyer. The buyer takes the extra risk of buying a pre-sale and actually pays more HST (on the construction).

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fixie guy
fixie guy
9 years ago

95 Anonymous – "Horny Whoreton has a new calling here"

An appropriate happy ending to the industry sock puppet sewer that was RET.

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Anonymous
Anonymous
9 years ago

@fixie guy: "@ 77 Ozzie Jurrock

Speaking of Oz, what’s up with RET? Shutting it down?"

Horny Whoreton has a new calling here —>
http://preview.tinyurl.com/26pz38w

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Anonymous
Anonymous
9 years ago

@patriotz: #42 The savings on the HST will come from buying the existing resale property that is exempt from the tax. The purchaser would only be paying HST on the construction of the new house. The seller is not absorbing any tax at all. This isn't for me, but I can see how this may work for someone.

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fixie guy
fixie guy
9 years ago

@ 77 Ozzie Jurrock

Speaking of Oz, what's up with RET? Shutting it down?

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patriotz
patriotz
9 years ago

@The Worm Has Turned: Great article, except for this part: Many people will tell you that an extreme drop in real estate prices — such as the 50 per cent drop many states in the U.S. saw in just three years — won't happen here. They're probably right. They'll tell you that Canada has good fundamentals and tighter government regulations, including legal requirements that don't allow most buyers to walk away from homes once they're worth less than their mortgage. The old no-recourse fallacy. There is no correlation in the US between recourse/no-recourse states and size of bust – Florida, for example, is recourse. The other fallacy is "tighter regulation" of lending in Canada. If prices in Canada are as inflated as they were in the US, then lending must necessarily be as loose as it was in the US.… Read more »

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ulsterman
ulsterman
9 years ago

@VRENGD:

Here is what $1,000,000 gets you in Seattle.

<a href="http://www.realtor.com/realest…..4301-45005” target=”_blank”>http://www.realtor.com/realest…..4301-45005

Look at the 2007 Oct sales price $1.325m – a 25% belly flop!

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No More Gordocracies
No More Gordocracies
9 years ago

HA HA HA HA HA HA HA

http://www.riddle-realestate.com/ActiveListings.p…

SPOOKY LISTING

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The Worm Has Turned
The Worm Has Turned
9 years ago

"How to protect yourself if house prices fall"

http://money.ca.msn.com/banking/homebuyersguide/a…

Holy fucking refreshing…

I cannot believe that the media put this article up there…

Fantastic…the worm has turned

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Anonymous
Anonymous
9 years ago

@Best place on meth:

Don't have to go to Upper Canada. Go to Superstore. If there are S-A-L-E-S, guess who line up to buy. Price of black cods has doubled in the last 3-4 years. Frozen black cods are prized as gifts in China. Hope the fish don't melt in the suitcases. LOL

I'm thinking of becoming a fishmonger, and quit my hi-tech job.

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lw
lw
9 years ago

Most builders will not build new houses in an older neighborhood. Thus it makes sense to buy an old house and replace it with a new one. The owner saves up to 40% buying a new house plus no HST.

My brother bought an old house in Vancouver East for $500k+, land value only. and the replacement costs are around 400k. For a similar new house in the same neighborhood it would cost $1.4M.

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FlipFlop
FlipFlop
9 years ago

@ No More Gordocracies:

Well done. Another link. Allow me to counter.

http://posterous.com/getfile/files.posterous.com/…

Just sayin man. If I want to know where to buy a decent pizza, I'm not going to call The Pizza Factory and ask them if their's is worth buying. Bit of a biased opinion, don't ya think?

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A Einstein
A Einstein
9 years ago

Ok…Drachen is Mark Carney

You sound like an economist;

" On the one hand…but on the other…."

I established the parameters .

How tall is the tallest midget ? Who put the bop…..

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Drachen
Drachen
9 years ago

@A. Einstein:

"Bwahahahahahaha

I caught you Mark Carney….you can’t even do simple Math

YOU are ” Anonymous ”

10% of 10% is 1 %…..Dumbkopf"

Are you seriously that stupid? There is a possibility of higher or lower correlation between being left handed and being gay. If for instance left handed people are twice as likely as the general population to be gay then it's not 1% is it?

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Bill Vander Zalm
Bill Vander Zalm
9 years ago

# 57 Goldmember Says:

October 28th, 2010 at 3:44 pm

There’s only 2 types of people I hate in this world, those who are intolerant of other cultures…and the Dutch.

================

FUCK OFF !!!!

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A. Einstein
A. Einstein
9 years ago

#

70

#

Anonymous Says:

October 28th, 2010 at 5:12 pm

@A. Einstein:

“What % of the population is made up of Gay left – handed people ?”

Anywhere from 0-10%. Impossible to tell, basically.

======================================

Bwahahahahahaha

I caught you Mark Carney….you can't even do simple Math

YOU are " Anonymous "

10% of 10% is 1 %…..Dumbkopf

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Hogtown Hozer
Hogtown Hozer
9 years ago

@Goldmember:

…….

There’s only 2 types of people I hate in this world, those who are intolerant of other cultures…and the Dutch.

……….

I'd rather be Dutch, wooden shoe?

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MIKE HOLMES in B.C.
MIKE HOLMES in B.C.
9 years ago

Wow…I reallllllly like this BC bud…

ahhhhhhhhhhh!

Hey…that 2 inch two tone green shag carpet is cool.

Check out the wood panelling with the Che Guevarra poster

The yellow formica counter in kitchen is par excellence

Check out the pink bathtub, blue toilet and green sink …. that's a keeper

ooooo that lava lamp is giving me a woodey get it…..ahahahahoooooo

Oh there superduperbulltime in the basement suite….still hasn't paid the rent , all tied up and bent over in lieu of payment…..

I'm here to meet my Dad Hunky Bill…notice the resemblance?

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Hovering
Hovering
9 years ago

http://www.trendir.com/house-design/utah-modern-h…

$600,000 in colorado

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NO - LYMPICS
NO - LYMPICS
9 years ago

Any commodities value is relative to the given moment.

I had a conversation with a neighbour re when the big one hits.

He said he'd make sure his house would burn so he could get insurance.

I said I'd keep the building, I'd have plenty of firewood to stay warm, McGyver things if need be,….and besides how solvent would the insurance companies be after the big one and claims come in.

Some poor schmuck will probably try to use gold to buy something from me…I could be the richest guy on the block.

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Ozzie Jurrock
Ozzie Jurrock
9 years ago

Hey..join me at my new seminar to buy up Foreclosed VCI posts…..and then sell them when the market starts another bubble.

Free Barry Manilow CD's to the first 10 sucke…err attendees.

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No More Gordocracies
No More Gordocracies
9 years ago

@realpaul:

"Gold is not acting any differently than any other commodity…….commodities are a hedge against the falling purchasing power of a currency."

Gold is not a commodity, it's real money. Same with silver, Platinum although they have some industrial uses as well. For a hedge gold is the best because it will always be rare and it is small and convenient to possess. Oil is a commodity but you can't keep it in your pocket and no one will take it in payment for food

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No More Gordocracies
No More Gordocracies
9 years ago

@FlipFlop:

Jim Willie's latest on the banks
http://www.kitco.com/ind/willie/oct282010.html

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NO - LYMPICS
NO - LYMPICS
9 years ago

I heard that there are approx 5000 migrant workers in the lower mainland.

However, a lot of farmers are having to lay them off because of the crop disaster

I wonder what will happen to them…will there be a wave of applications to stay here , will they be shipped back, or go the illegal immigrant route ?

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A. Einstein
A. Einstein
9 years ago

How do you get from China to India ?

Cross the Patullo Bridge

======================

Another answer is Alex Fraser bridge

(Port Mann bridge does NOT count, it allows the hicks at either end to inbreed)

Ironworkers Bridge and Lions Gate Bridge North bound bring you to whitey ville

Arthur Laing bridge South will bring you to Taser ville (aka YVR)

Oak Street Bridge South bound is escape from Kim Il Song's nuke attack, or visit South Surrey more whitey ville.

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