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Saving you the HST or just scared to build?

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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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realpaul
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The announcement of a $500,000,000 cut in the budget due to tax reduction has killed any notion of a bailout for the OV..Mayor Moonbeam must be rather depressed today.

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7 years 8 months ago
patriotz
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Selling something now for future delivery is called "short selling", and these guys are short selling houses for the same reason that people short sell stocks.

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7 years 8 months ago
Honouable Gordon Cam
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Yeah, that speech scared me…

BTW I'm # 3

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7 years 8 months ago
Bilbo Bloggins
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HST is nothing more than the boogey man paraded in front of the

public by industry shills.

They know the market is unsustainable.

Expect to see more red herrings brought forth as the market

continues is anemic performance.

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7 years 8 months ago
NO - LYMPICS
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Well, unless things have changed North Shore I basically whitey town.

Their economy is more reflective of the local economy,and if they are hurting, that's a warning bell.

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7 years 8 months ago
northeast canuck
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Re Don's listing ($899,000). This one has a bit of a story behind it – I've been watching this property for a while. Not because I want to buy it but because it's the biggest eyesore in Edgemont and you can't miss it when you drive through. This property orginally went on sale back in February I believe. It's not possible to live in it – it's covered in moss/blue tarpaulin etc. There isn't even a front window anymore. It went on for around $839 and sold very quickly. It then came back on the market a few months ago for – wait for it – $999,000! WTF? But then when you look at the plans for the build things start to make sense. There happens to be a property nearby which is for sale with Virani and is exactly… Read more »
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7 years 8 months ago
superduperbulltime
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Bear I know 15% tax cut on meager bear income is no big deal but for bull this is good news happy time. Try to smile when you bring me coffee today stop being so grumpy.

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7 years 8 months ago
YLTNboomerang
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@northeast canuck:

We could be neighbors some day, ha! I've driven by the place too, unbelievable dump! Here is a shot I grabbed from google streetview:

The worst house in Edgemont

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7 years 8 months ago
YLTNboomerang
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@YLTNboomerang:

Please ignore the link above or vote it down, I'll fix it.

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7 years 8 months ago
YLTNboomerang
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@northeast canuck:

We could be neighbors some day, ha! I’ve driven by the place too, unbelievable dump! Here is a shot I grabbed from google streetview:

The worst house in Edgemont

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7 years 8 months ago
Anonymous
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@patriotz:

"Selling something now for future delivery is called “short selling”, and these guys are short selling houses for the same reason that people short sell stocks."

Or they don't actually have the cash to build until somebody buys the lot from them. Or they ran out of money before they had chance to finish, and found an interesting angle to market their property from (saving HST). Or they don't want to take on any more risk.

You only see what you want to see.

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7 years 8 months ago
NO - LYMPICS
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People on the Noth Shorew are their own breed,,a bit inbred.

Many of them will do reno's and try to flip( versus demolish and flip) …they probably have an orgasm when Mike Holmes show comes on.

They are probably the most vulnerable to irrational exuberance.

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7 years 8 months ago
YLTNboomerang
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@NO – LYMPICS:

You calling the North Shore "Whitey Town" is just as offensive as others referring to Richmond with an Asian racial slur or Surrey and Indian racial slur. Keep your comments to yourself.

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7 years 8 months ago
realpaul
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Debt is much worse than is being reported say experts..

http://www.theglobeandmail.com/report-on-business…

Given the close corelation of the CDN economy to the US ( 10 X 1) our debt is growing exponentially along with the US… If this report is true..then GDP/debt in Canada is something like X's 20 of whats being let on.

Hyperinflation anyone. House prices may go way up in price…but cheese will also be $1000 a pound. Are your wages keeping up? Did you make an additional 40% last year to pay for the rise in grocery prices….fuel…..?

Got cat food?

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7 years 8 months ago
Anonymous
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Ha, check out the douche at Virani charged with selling the "yet-to-be-built" ugly-ass spec home:

Douche

"Look at me in my fancy suit, in my fancy (leased) car, talkin' on my cell phone" Ugh, it's tools like this that I hope end up working behind the counter serving fries.

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7 years 8 months ago
NO - LYMPICS
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13 YLTNboomerang

Actually, I am part Asian…as in CaucASIAN

FYI: I can call call my own tribe honkies, whiteys,wasps , and not subject to any Human Rights discipline…it only applies to slurs against those not of ones tribe

signed whitey

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7 years 8 months ago
patriotz
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@Anonymous:

Or they don’t actually have the cash to build until somebody buys the lot from them… etc

If the banks (who don't get CMHC insurance on construction loans) thought the RE market was sound they would be willing to finance. Likewise the other scenarios you describe indicate that market players are expecting price declines.

Insiders short selling, whether stocks or RE, means they are getting out of Dodge.

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7 years 8 months ago
patriotz
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@NO – LYMPICS:

For those who are curious, the term "Caucasian" to describe modern Europeans (i.e. whites) and Indo-Iranians (aka "Aryans" at the time) was coined by an anthropologist who thought the Caucasus was their region of origin in prehistoric times.

Ironically, present day Russians call people who are actually from the Caucasus, e.g. Chechens, "blacks".

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NO - LYMPICS
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I see in todays Province that Podmore is stating they may have to expand the Vancouver Trade and Convention Center

http://www.theprovince.com/news/Expansion+forecas…

Who's going to pay…

The Tourism sector already got a freebie, that went $500 million over budget…

Whats the agenda…whisper something in the Premiers ear…

I hear that the Convetion centers globally are white elephants..if that's not the case here, tell the Hotels to pay for expansion and the $500 million cost overrun.

Cut the corporate welfare

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7 years 8 months ago
NO - LYMPICS
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18 patriotz

There was an intersting show re: Aryan race mythology that one of those Discovery Channel shows did recently.

Therr actually is no defineable Aryan tribe as Hitler had beliived. The show went to Scandinavian countries where a lot of blue eyed blondes lived, and through DNA found no consistency.

In essence, most Europeans would be surprised at how many roots their DNA background is

DNA is sophisticated these days they can determine many origins

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7 years 8 months ago
realpaul
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Central Banks continue to buy debt. http://www.bloomberg.com/news/2010-10-28/european… In order to pay for this the citizens will get 'austerity'. I have a suggestion for the top tier of the civil service….stop spending. The current thesis is that if enough money is spent..then the debt will go away……aahhhh good luck with that. The current Canadian government has created a mountain of debt the likes of have never been seen…cannot be repaid in four lifetimes…..it will haunt future generations with increased taxes and reduced services. The attempt to 'balance the budget' is currently underway by unloading the national deficit onto minor governments…this tactic was used before…except now the cities and municipalities along with Crown Corps have already issued many billions in bonds and are hamstrung….without access to increased revenue…except higher taxation. The current gove sells tens of millions of dollars every day to… Read more »
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7 years 8 months ago
giggling
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@realpaul: Re: inflation, food prices etc. I've read somewhere that 60% percent of all food produced in North America ends up in the garbage even before it reaches the store shelves. Now, every time I go to Superstore, which recently seems full of barefoot immigrants from all corners of the globe, I wonder – what happens to $30/lb halibut, $40/lb Romano cheese or all the other "delicacies" we used to once call "food" lining the shelves of this "affordable" grocery chain? A gallon of milk is over five bucks now and my perennial favorite, the spreadable "Laughing Cow" was last priced @ $12.00!!! For a half pound of milk (by)product made in Quebec…WTF??? All this stuff ends up in the garbage once it expires, as nobody buys it. I mean, no wonder our healthcare system is strained – people simply… Read more »
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7 years 8 months ago
midnite toker
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@giggling: don't worry – there's plenty of KD and Ramen to go around

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7 years 8 months ago
GDP! Yea, you know m
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@YLTN "YLTNboomerang Says: October 28th, 2010 at 10:30 am @NO – LYMPICS: You calling the North Shore “Whitey Town” is just as offensive as others referring to Richmond with an Asian racial slur or Surrey and Indian racial slur. Keep your comments to yourself." White person here. I am not the least bit offended by that. My honkey lover lives on the north shore, and i have to admit, its pretty damn white. I dont take offense to honkey, cracker, wonder bread, casper, milk bottle, etc. because i dont think there is anything inherently wrong with white people. i know some people of other races hate white people, but no skin off my back. live and let live. im just white. i had no choice in the matter. i definitely dont need you to rush to defend sensitivities i don't… Read more »
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7 years 8 months ago
Honourable Gordon Ca
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The Royal Canadian Mint announced that they are going to take the polar bear

off the toonie and

replace it with two gay indians .

Instead of a "oonie" it will then be called " two fucking bucks .

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7 years 8 months ago