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Property estimates now public

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Zoocasa.com is now giving public access to home appraisal values for free.

Carefully guarded data on home appraisal values – once the private preserve of real-estate industry insiders – has been posted by a listings website backed by Rogers Communications Inc., which has tapped private databases to give people an instant estimate of a property’s value.

That’s from an article over at the Globe and Mail where they go on to talk about how moves like this weakens the position of Real Estate agents who’ve used privileged access to market information to justify their commissions.

The argument against such a move has always been that it impinges on personal rights to privacy, which isn’t such a long shot when the president of Zoocasa pitches it as a fun way to find out the value of friends and neighbors houses.

By entering any address in the country and providing a few additional details, such as the number of bedrooms and bathrooms in a house, a user can get an instant price estimate. It can give them a better idea of what their own house is worth – or something to gossip about around the dinner table as they discuss the net worth of friends, family members and neighbours.

“That’s one of the fun things about this service,” says Butch Langlois, president of Zoocasa. “It’s not necessarily your own home that you are interested in pricing.”

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Anonymous

Wow comments have really slowed… I think we are all sick of the war. Especially given, When vancouver crashes it could be a long equally annoying melt. i waited long to buy, and now i have to wait long forthe bottom to come in.

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Donald Trump

I have "put" options on Canucklandberg RE

When you see me at Whistler with my latest Trophy wife ……that is an encrypted code to SELL.

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Donald Trump

How's it going North of 49th Hosers.(aka America Jr.)

Still pissed off Bruins won?

I don't care.

My TV show is up in ratings.

Give or take the odd protein based follicle out of place on my disineguous cranium…I will be in Yo Homie burg soon.

Lock up yo Mama et al…"the Donald " will be landing soon !

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Big Daddy

@ckung:

The majority, if not all, of Westside lots are sold for lot value.

A renovated home still gets the tender loving wrecking ball within a year.

Furthermore a $1.8 million tear down with some new laminate floor? Do I need an appraiser?

Make that $1,801,200 voila if you really feel that upgrade increases it's lot value.

Kind of like paying a home inspector $400, if they mess up you get your $400 back but what else?

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patriotz

@bobby:

"Anonymouse Says: “You don’t have an RRSP?”

No. I dont do ponzi schemes."

Some people seem to be unaware that an RRSP is simply an account to put assets in that gives you a tax advantage. It can be anything from an ING savings account to stock options.

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Atilla the Hun

@Devore:

This is just a part of process of Vancouver becoming the biggest China-town in the western part of the World. Yet another biblical mega-migration of World population.

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Anonymous

House values skyrocket in Vancouver's Cambie corridor

http://www.cbc.ca/news/canada/british-columbia/st…

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cgh

@Anonymouse: BC: 17.5% tax credit. Ontario: 25 to 40%. Quebec: 37.5%. Those are the only ones I'm somewhat familiar with.

Despite the credit, BC's wages/rates remain horribly low. Ontario's are much higher – call it 50% or so.

It's not just games. I'm in the "enterprise" world these days, and the situation is even worse.

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bobby

Anonymouse Says: "You don’t have an RRSP?"

No. I dont do ponzi schemes.

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jesse

@Anonymous: "Recent S/L ratios suggest otherwise"

Sale/newlist last 10 days of October 2010: 76%

Sale/newlist previous 8 days of October 2011 (with 2 more days to go): 66%.

Sales activity is flat YOY but new listings are up about 15% YOY.

No crash but not strong either. I blame the HST society.

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McLovin

"another day on the stock market, another victory for 1% parasites."

Hey Bobby you are a loser.

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Anonymous

@paulb.: For a while there I thought real cracks were forming in October. Recent S/L ratios suggest otherwise, however. Crackerheads, on the other hand, are apparently still out in force in RE land.

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paulb.

New Listings 107

Price Changes 92

Sold Listings 90

TI:16665

http://www.laurenandpaul.ca

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jesse

@Devore: Stories going back years of sr. developers recruited to move to Vancouver from back east (Montreal, Toronto), sometimes with pay raise, only to find cost of living in BC is way higher than they anticipated. The main complaint that their standard of living was lowered for the privilege of less snow and more rain.

Not everyone moving to Vancouver skis but hates snowy winters.

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Anonymouse

@cgh:

How do the tax breaks for games companies compare between the provinces these days?

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Devore

@cgh: Many have been saying for a long time that talented people are leaving for greener pastures, and now with the latest aggregate migration numbers it's a verifiable fact. We're seeing the same problems here trying to find senior people; lots of fresh out of school and recent immigrants, willing to work for peanuts, (I imagine body shops love them, they grab them for cheap, hire them out for big bucks.) but little in the way of experienced people. They're all in Toronto or Edmonton/Calgary. We're a national company, so not a _huge_ issue, but for some things it's nice to have them local.

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Extremely rich Van h

@ckung: Usually,it is 30 to 40 percents lower than what the real value is.

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cgh

@R: "The remaining studios here are starting to show the cracks from losing so many talented people. There’s been a lot of cancelled projects over the past three years and I believe a loss of talent is a big part of the lowered quality." You are correct. I have gotten calls from recruiters every day this week who are looking for senior developers in Vancouver. They are actually dying for people, but like you said, there's been a big loss of talent – people are leaving/working remotely for companies based in Alberta, Ontario and San Francisco (in my case – you would not believe how many Canadians work in Silicon Valley). One reason is the rates are terribly low in Vancouver, especially given the cost of living. Rates are typically upwards of 25% higher in Ontario and 50% higher in… Read more »

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Anonymouse

@bobby:

"another day on the stock market, another victory for 1% parasites."

You don't have an RRSP?

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R

@Patiently Waiting: I used to work in the games industry. I left about three years ago to go back to what I used to do before games. I know literally hundreds of people that lost their jobs in 2008 and have never found steady work in the games industry in Vancouver again. Three years is a long time to be bouncing between EI and part-time contract work. Vancouver only has a handful of mid to large size studios left. Lots of mini-studios have opened but not nearly enough to support everyone that lost their jobs three years ago. Montreal and to a lesser extent Toronto are booming! Tons of jobs and housing costs half of what it costs in Vancouver. The remaining studios here are starting to show the cracks from losing so many talented people. There's been a lot… Read more »

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specialfx3000

One more thing about this quote from Inventory's link: "We require a refund because the loss we are suffering now is too great for us to afford," said a homeowner, surnamed Wang.

I think recent Vancouver buyers will soon be like this.

As long as appreciation continues, regardless how tight their budget may be, ie 75% of their take-home paying going towards the mortgage, they will feel hunky-dory. Mac and Cheese dinner is alright because their house will be worth 1 billion dollars in 10 years.

If the market suffers a 30% hair-cut, that same home owner, making the exact same payments on the exact same budget will feel like they are suffering great loss.

Those that say buying a house in Vancouver is not speculating are fooling themselves.

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bobby

Patiently Waiting Says: "Million dollar windfalls on homes bought less than ten years ago, while experienced Electrical Engineers can’t find work."

welcome to Canadian Hooverville where top 1% gets MONEY and 99% of us gets DEBT.

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bobby

another day on the stock market, another victory for 1% parasites.

well 99% will have to work harder for less or our jobs will be outsourcied to the slave labour in China. that is the message from the elite.

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specialfx3000

@Inventory:

""We require a refund because the loss we are suffering now is too great for us to afford," said a homeowner, surnamed Wang."

Such stupid people. Prices come down and you demand a refund. Would they give some back if prices sky-rocketed? Don't think so. For those that bought to 'live', who cares what the current price is. Ah, Wang gambled and loss. Boo-hoo.

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jesse

@Alum: "People who shorted bonds in 2008 have lost their shirts"

People who bought bonds in early 2008 have made out like bandits. What's your point?

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