Crazy Bull Anecdote of the Week

Oneangryslav wrote this in the comments:

Crazy bull anecdote of the day (week?):

My brother lives in North Burnaby in the area bounded by Hastings and Parker, Willingdon and Gilmore. His neigbhour a couple of doors down (whom both he and I know as we played soccer on the same youth team) many years ago) tore down a nondescript bungalow and built himself a large house. Almost to the day of the one-year anniversary of the place having been completed this friend is sitting at home watching television early in the evening (this happened a couple of weeks ago), when he hears the doorbell ring. He opens it to find a gentleman standing there asking if the house was for sale. The friend asks sarcastically “do you see a for sale sign?” “No”, responds to (as it turns out) real estate agent. The real estate agent continues, “would you be willing to sell it, anyway?”

The friend thinks about it for a second and says “sure, the price is $1.3 million dollars” thinking that would scare the real estate agent away. Anyway, long story short, the real estate guy goes to his car to call someone, comes back and says “okay!” Now my brother thinks that his home is worth about a million dollars.

Crazy! I’m going to get in touch with our friend to find out more of the details.

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Condo Software
7 years ago

Your position on a crazy bull conforms to that of other authors I encountered, which makes me wonder whether this consencus in pulic opinion signifies the beginning of a new way of thinking. You share very good information Another good post Bullish!.

chip
chip
8 years ago

@UnagiDon:

Actually, I’ve made this point many times. Because of the cap on money to be taken out of China, and the preponderance of corrupt officials who invest outside the country, the Canadian government should be looking very carefully at the source of funds entering our real estate market.

patriotz
8 years ago

@UnagiDon:
More like the mistake is thinking that China has laws and citizens, as these terms have been understood in the West since the 18th century.

UnagiDon
UnagiDon
8 years ago

@Chip: The mistake is in thinking that laws in China apply to all citizens equally.

an observer
8 years ago

As a couple people have already mentioned, the numbers on that Kits place were fabricated in the interview. It was never listed at 1.57M and was on the Weekly Drop a couple of weeks ago with a drop of 23% and counting and was also on the Weekly Drop in early August.

http://vancouverpricedrop.wordpress.com/2012/09/10/the-weekly-drop-september-10-2012/

Also interesting that it was recorded as a sale in August – they had 2 to 3 open houses every week in August

Yalie
Yalie
8 years ago

@GNFINGR:

Haha Phil chan says get in the game! Take a risk!!! Don’t just watch the game u wussies!

I think we’ve finally found the guy Russell Peters was talking about: “Be a man!”

http://www.youtube.com/watch?v=QAy5h13_h08

HAM Solo
HAM Solo
8 years ago

Watched the National clip. As a Vancouver housing bear it feels like the east Europeans must have felt like when the wall came down. I’m no longer a member of a doomsday cult…the idea has gone mainstream.

AngloMan
AngloMan
8 years ago

@Anonymous: Yeah – i had my tongue planted firmly in my cheek with that comment.
As for queues of 40 potential renters, that Cameron Macneil talked about on ‘TN’ – Does anyone have any anecdotal evidence supporting this?
All that comment proves is that forty people are looking for a property and turned up at the same time. there could be only forty people looking for a place to rent – in an area that has 1000’s of units to rent. In other words, his replies to Garth Turners fact backed comments, were complete and utter throwaway garbage. He may as well have danced in a clown suit!

Scott
Scott
8 years ago

@paulb: Crazy! Another double digit sales day. Anyone keeping track of this stretch? We had a multi-week stretch of double digit sale days that was broken by a single triple digit day a few days back. Is that only one day over a hundred sales in almost 3 weeks now?!?

GNFINGR
8 years ago

Haha Phil chan says get in the game! Take a risk!!! Don’t just watch the game u wussies!

G
G
8 years ago

@Troll:

How much was it sold before the new house was built? and when?

Anonymous
Anonymous
8 years ago

@AngloMan:

They didn’t mention Antarctic ice is at a record high though.

Or that a major Arctic storm was responsible for decreased ice in the north rather than lower temperatures.

Selective bias in journalism isn’t confined to te real estate market.

Troll
Troll
8 years ago

@s: There’s something goofy about that property….

Listed in Feb. for $1.79M, then reduced to $1.69M in May and sold on Aug. 9 for $1.467M.

The current MLS# shows it re-listed on Aug. 2nd, removed on Aug. 9th, then relisted again on Aug. 10th for $1.398M and reduced again on Sept. 6th to current $1.373M.

Ooops.

AngloMan
AngloMan
8 years ago

Just watching this report on Arctic Ice on ‘The National’. Scary stuff! More downward pressure on the Richmond market!!!

midnite toker
midnite toker
8 years ago

@skippa_azza: pretty much , I work in IT as well, and it’s hard to find anything paying more than 60k or so, unless you luck into one of those sweet government jobs. If you look around, most of the jobs posted are for contract, so no benefits , no security.60k is fine when you’re young and single, but sucks for raising a family. Buying a house isn’t even on my radar.

Dog
Dog
8 years ago

New listings declining daily. No way we will see 20,000 this year.

Dog
Dog
8 years ago

Too many offers tonight to report huge sales day.

s
s
8 years ago

Forgot to add philip chan’s listing

http://www.ecorealtyinc.ca/listing?id=259754658

s
s
8 years ago

This is funny! Incase if you guys haven’t checked out Philip Chan’s house he’s selling from the video.

http://www.cbc.ca/player/News/TV+Shows/The+National/ID/2282034757/

Phillip Chan’s house

1.79M
1.57M – in the video he said the market isn’t going to drop more then the 12% he’s home has already dropped…

Well it’s dropped again, now it’s dropped by 23%.
1.37M

Bag it and tag it
Bag it and tag it
8 years ago

@b5baxter: How pathetic major sites still require flash player

Chip
Chip
8 years ago

Interesting story in WSJ about high rollers from China in Vegas. The author spends a lot of time wondering how the gamblers manage to bring so much money out of China despite the $50 grand cap per year.

Even the casino execs can’t figure it out.

Same question can be asked for investors in Vancouver real estate, of course.

http://online.wsj.com/article/SB10000872396390444017504577648160626366488.html

Best place on meth
Best place on meth
8 years ago

@b5baxter:

Even better!

Romeo Jordan
Romeo Jordan
8 years ago

VHB, it looks like it might, I’m still hoping we buck the trend and see an UPTICK in listings over the coming weeks….fingers and toes crossed.

CBC – well, a couple of stiff jabs at the market, but no knock-out punch. That said, the weight of MSM bearish reports is having an impact.

Still hoping for a 400 listings day before month end.