Zero west side new home sales

It hasn’t happened yet, but it’s possible that this could turn out to be the first month on record to ever have zero new home sales on the Vancouver west side. Check out the comment from inventory:

Worst New Home sales in September in Vancouver West?

Where are the buyers? Currently there are NO sales of “NEW” HST Homes. there are 71 units available. Five more days to go for a sale. There has never been a ZERO New home sale in Van West since 1994 (Records only go back to 1994).

Vancouver West
New home sales
Sept 2010 / 2011
Listed 61 / 71
Sales 9 / 0 ***As of Sept 25, 2011

Van West Sept new home sales:
2008 = 4
2009 = 11

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[…] “A friend (who has a house) told me that in 20 years time Vancouver will be populated by HAM ['Hot Asian Money'], and that the only Caucasians left will be serving them. Does he picture himself living in such a community, being Caucasian himself? Does he intend to sell for 10 million dollars and leave? I thought I did not agree with that vision of the future, until I went to Telus World of Science and noticed bilingual exhibition panels: English/Chinese. Not other language. I will sent them a letter expressing my frustration as a non-Chinese ESL immigrant, since they made my kids feel like secondary citizens.” – painted turtle at vancouvercondo.info 26 Sep 2011 8:06am […]

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[…] “A friend (who has a house) told me that in 20 years time Vancouver will be populated by HAM ['Hot Asian Money'], and that the only Caucasians left will be serving them. Does he picture himself living in such a community, being Caucasian himself? Does he intend to sell for 10 million dollars and leave? I thought I did not agree with that vision of the future, until I went to Telus World of Science and noticed bilingual exhibition panels: English/Chinese. Not other language. I will sent them a letter expressing my frustration as a non-Chinese ESL immigrant, since they made my kids feel like secondary citizens.” – painted turtle at vancouvercondo.info 26 Sep 2011 8:06am […]

Boombust
Boombust
8 years ago

"Boombust: CTV went to the real estate board’s head pimp…er, economist for the straight goods…"

Oh, I realize all that. It's just the use of the word "BUBBLE" that I found interesting.

I wasn't overly impressed with the sum total of the "reportage".

patriotz
8 years ago

@Anonymous:

"“If not, what else can a guy do to reduce of the risk of getting booted out of a place because the landlord suddenly wants to sell?”"

Wanting to sell a property is not just cause for a landlord to terminate a tenancy, period.

After a property is sold the new owner may occupy the property subject to a notice period for month to month tenancy or subject to the end of a fixed term lease.

CanuckDownUnder
CanuckDownUnder
8 years ago

@Supraboy:

If you really want a game of Monopoly that resembles the Vancouver RE market you need to triple the buy prices for all the properties but keep all rents/fines/utilities etc the same.

Anonymous
Anonymous
8 years ago

"If not, what else can a guy do to reduce of the risk of getting booted out of a place because the landlord suddenly wants to sell?" Sign a longer lease, say 2 years. If the guy sells the new owner can't kick you out. Any landlord planning on selling is not going to sign a 2 year lease as it will limit potential buyers. Regarding places without photos. Get the address through email and use google maps for a street view. The gems are often those with poor ads that nobody bothers to look at. Also it doesn't hurt to look at over priced places and put in an offer. I got my place for $500 below asking rent as I was the only person who looked at it. Just make a case why you are a great tenant… Read more »

604x
604x
8 years ago

@Bailing in BC

Yes – you're right. A fixed term tenancy can't be broken.

Supraboy
Supraboy
8 years ago

This site reminds me of sitting in front of a monopoly board. I own a few yellow and green properties collecting rent while the majority of you bozos decide to own utilities and a couple of railroads. Then on the flick of the dice, you land on "Go To Jail". Just when you're about to get to boardwalk, you land on income tax.

Supraboy
Supraboy
8 years ago

Wow, I haven't been on this site for ages. I come back and it's the same old shit here. Bunch of bears crying and waiting. When there aren't any home sales, the bears bring out their pom pom and start waving as if the markets are crashing.

If you foolish bears had half a brain, you wouldn't be renting. There's a reason why I own a house and you don't.

If you think a stock market crash would take down the house markets, you better think twice. The government will just lower interest rates to boost the markets. It's a given fact and I'm waiting for that juicy 1% interest rate on mortgage so I can load up more properties. It's a game of monopoly. Apparently, if you've been renting, you'll continue to rent forever.

midnite toker
midnite toker
8 years ago

@Best place on meth: well I don't know anyone who commutes from maple ridge to langley or vice versa. So there's that.

Bailing in BC
Bailing in BC
8 years ago

@604x:

A fixed term lease cannot be terminated before the end of the term, except by mutual agreement between the landlord and tenant. The Landlord can sell the property but the new owner is obliged to fulfil the terms of the contract.

Vansanity
Vansanity
8 years ago

http://www.youtube.com/watch?v=aC19fEqR5bA

This is a video worth watching. I share this dream, as twisted as people may find that. My family is situated to profit through a downturn. I'm still protecting certain assets and placing bets in order to make money on this for years to come.

Govern yourselves accordingly.

Anonymous134282
Anonymous134282
8 years ago

@Vulture Fun: I'm currently renting from Siegle Properties. They do a great job. Very prompt at fixing problems.
http://www.rentsline.com/company/Siegle-Propertie
They post on Craigslist too.

DaMann
DaMann
8 years ago

@Anonymous:

:they said only 2-3% of buyers were from overseas on ctv news at 6 this evening. i believe they were quoting the chief economist of crea.:

The same old question though, what is an overseas buyer? No citizenship? Then yah that number makes sense. But most of the HAM buying do indeed have citizenship, very new yes, but they have it. So I'm not sure what constitutes overseas.

I don't think the Chinese money is the issue with the bubble. Sure it doesn't help but that's not the main reason.

real_professional
8 years ago

@ Best Place on Meth

I lived downtown, coal harbour, and in the suburbs. By far the suburbs have been better. I found Down-town was over-rated, inconvenient, and pretentious.

As for bridge usage – let's see how many people would use the burrard street bridge if it was tolled.

Li Kai Shing
Li Kai Shing
8 years ago

@604x:

Not forget RTA allow non profit babysitting for rich concubines , so get out, basement suite troglodytes, leave some beer in fridge.Take pit bull in heat too!

patient renter
patient renter
8 years ago

love how the ctv story interviews Cameron Muir for his perspective…and a realtor…and a couple of buyers..and no one else!!!!

How about getting some perspective here.

Such bullsh@t investigative reporting!

604x
604x
8 years ago

@Vulture Fun: Double-check MLS to confirm house is not also listed for sale. Scumbag landlords do this – I found it particularly true in North Van for some reason. They're bailing out and grabbing a few extra nickels/dimes from people as they go (probably out of desperation from their debt load). Also, I think it is virtually impossible to stop a landlord selling you place to someone and then having that new owner terminate your lease. The RTA allows new owners to terminate leases (they simply must give you 2 months notice and specific types of written notice). So no matter what, look for a house that has a long history of rental – something bought a long time ago by a stable owner instead of some clown looking to make a quick buck from a quick flip on a… Read more »

Anonymous
Anonymous
8 years ago

@Best place on meth: …..My question: Are people in the suburbs poor or just really cheap?….

Well, I can't speak for the burbs (I live in town) but I was out in that area on the weekend (to Mission) and I took the back way. I'm definitely cheap but the truth is that GEB wouldn't have made my trip any faster. In fact, on the way home, I'm pretty sure that the north side of the Fraser was faster moving than #1 (if Sunday afternoon history is any reference).

Anonymous
Anonymous
8 years ago

@Anonymous: …..they said only 2-3% of buyers were from overseas on ctv news at 6 this evening. i believe they were quoting the chief economist of crea……

I guess that means Chinese millionaires are not quite as stupid as the local Realtors (with there two week RE courses) would have us believe. Who would have made that call?

Best place on meth
Best place on meth
8 years ago

@Vulture Fun:

Also this http://www.kensonrealty.com/detail.php?property_i

Advertised by professionals, not amateurs.

Li Kai Shing
Li Kai Shing
8 years ago

@gordholio:

Good for you !

I complain that Deb Hope has fat ankles and Squire Barnes and Mike McCarnhole not funny !

Vulture Fun
Vulture Fun
8 years ago

@Best place on meth:

Thanks for the tip. That one's pretty close to what we're looking for.

Best place on meth
Best place on meth
8 years ago

@Vulture Fun:

"I’m searching on max price of $2300 and 3 bedroom."

This is pretty decent for $1850, 4 br in central Coquitlam.

http://vancouver.kijiji.ca/c-real-estate-house-re

Found it on padmapper.com, it scours several sites and the map is very convenient.

Vulture Fun
Vulture Fun
8 years ago

@gordholio:

Thanks for your efforts, Gordholio. The action you took was about five notches above my current level of laziness, so on behalf of other concerned sloths out there, good on ya.