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patriotz
Member

@Guy Smiley:
This property has been discussed on HHV for some time now. It finally sold for around $5 mil, original asking around $20 mil I think.

Scam is just using it as a stock photo.

Guy Smiley
Member
Guy Smiley

@yvr2zrh:

Who does this house belong to? I recognize it as a property from near Victoria. I recall there was a story that went with it – a retired couple from AB (nice people from the way i heard it) moved out to the island and built their dream house and shortly thereafter she fell ill. They put it up for sale but i remember it languishing on the market for a long time. That was 2 or 3 years ago now.

Short'em High
Guest
Short'em High

@yvr2zrh: Shipping vs Shopping Locally

My point was that the unprecedented burden for receiving firms in Washington State may be indicative of shifting consumer expenditures. Local retailers employ Canadians who pay mortgages and rents. If there is less demand for Canadian retail, it will show up in both lower sales numbers and higher unemployment claims. A decline in sales for consumer retail firms will be reflected in share price very quickly. Short them first. Later the higher loan deliquency rates originating from retail downturn unemployment will hit mortgage lender share prices just like 2008. Short them later.

Jerry Boyle
Guest
Jerry Boyle

Some interesting numbers hiding in a lame Globe article on RRSPs:

http://www.theglobeandmail.com/globe-investor/personal-finance/retirement-rrsps/most-canadians-leave-money-on-the-table-with-rrsps/article6016965/

“Indeed, a recent Bank of Nova Scotia poll found that taking money out of retirement savings plans is on the rise.

About one-third of respondents said they dipped into their RRSPs this year with the average withdrawal ringing in at $24,531. That’s up from 23 per cent in 2005, when an average amount taken out was $10,716.

In some cases the money was used for daily expenses or to pay for vacations, but the top reason cited was to buy a first home, according to Scotiabank, which polled 2,013 people through a computer-assisted telephone survey last June.”

yvr2zrh
Member
@Short’em High: I’m in Zurich right now and have 12 shipments going to this location – – trust me on this one it was a nightmare – – thought it would be big enough to make the news!!! I learned a lot about online retailers / shipping companies and who the best are!! I will say that Fedex was great – – – totally held package and redirected it for what appeared to be no fee. UPS – no chance to do anything – only return to sender . . Amazon ? OMG – amazing – -they completely agreed to take original item back , reship for no charge. Basically completely at their cost I suppose. Anyhow – off topic but this was 2 days of massive phone calls – – TSB Shipping saved the day . .
yvr2zrh
Member

Anyone remember “pls.ca”? This was the exclusive listing service from Cam Good – was to be marketed in China etc. . . .

Anyhow – – go look at it now – – look at the picture on the front and read the “credits” at the bottom of the photo.

“Actual pls listing with information provided by seller”.

Any idea who the house in the photo belongs to??? !!!!

What a con-man – – this guy deserves whatever he gets.

Short'em High
Guest
Short'em High

@Anonymous: Crash Origination

Watch Canadian holiday retail numbers closely folks…

http://www.cbc.ca/news/canada/british-columbia/story/2012/12/06/bc-point-roberts-parcels.html

2008 consumer discretionary stocks crashed before lenders.

kansai92
Guest
kansai92

Seeing a lot of condo listings where a unit comes up for sale and doesn’t sell.
Then another unit with the same floor plan in the same building but higher floor gets listed a few months later and the price is tens of thousands lower.
Must suck for the first seller!

Con-Rad
Guest
Con-Rad

@vangrl: Numbers are too depressing to comment, even for bears except the two crusty old ones

vangrl
Member
vangrl

omg can you only imagine being Cam Good right now …

i see his website is “under construction”

Bag it and tag it
Guest
Bag it and tag it

@vangrl: Yeah, site is acting up. REA sponsored hack?

vangrl
Member
vangrl

umm there is something wrong with this site today right?

Anonymous
Guest
Anonymous

After the crash, demographics don’t look good for a recovery…….. ever (according to this http://www.businessinsider.com/matt-kings-most-depressing-slide-ever-2012-12)

VHB
Member
VHB

@jesse: Sounds interesting. Has all the bubble talk permeated down to enough water coolers that more people are holding back from buying? Or is it people who want to buy who cannot because of credit? If the ‘can but don’t want to’ set gets bigger, things start getting interesting.

Con-Rad
Guest
Con-Rad

This is NOT good for my “rage”

jesse
Member
To come in at December -26% from Sep-Nov sales average, we will need to average 61 sales per day. The first 5 days of December 2010-11 averaged about 17% higher than the month-end average. That means it’s likely that December is front-loaded with sales. (I don’t have data for the last couple of weeks of December.) VHB is showing a rolling average of 70 daily sales. -17% would put average daily sales around 58 by month-end. That would be 1100 sales for the month. This is derated slightly since REBGV does not count some sales paulb reports so at this pace, using the last two years as a gauge, there is a plausible scenario we will see less than 1100 sales for December. My estimate on Tuesday was for December to finish with 1159 sales. Based on these calculations we… Read more »
Bag it and tag it
Guest
Bag it and tag it

@Best place on methiguana…yeah, I can see it now: ‘this million dollar home and all these girls can be yours for only $2500 dolla! Only loser buy home!’

YLTNboomerang
Member

@patriotz: If you’re a buyer, I bet you could get a realtor to work for you and write you a cheque upon purchase.

VHB
Member
VHB
Dec-2012	
Total days	19
Days elapsed so far	4
Weekends / holidays	2
Days missing	0
Days remaining	15
7 Calendar Day Moving Average: Sales	70
7 Calendar Day Moving Average: Listings	104
SALES	
Sales so far	280
Projection for rest of month (using 7day MA)	1047
Projected month end total	1327
NEW LISTINGS	
Listings so far	430
Projection for rest of month (using 7day MA)	1560
Projected month end total	1990
Sell-list so far	65.1%
Projected month-end sell-list	66.7%
MONTHS OF INVENTORY	
Inventory as of December 5, 2012	15791
Current MoI at this sales pace	11.90

so when are those 100% sell-list days we always get in December gonna happen?

paulb
Member

New Listings 72
Price Changes 52
Sold Listings 52
TI:15791

http://www.paulboenisch.com

ReadyToPop
Guest
ReadyToPop

@JR

I was saying a few days ago and getting some downvotes. Like I said, what caused the crash in the US, not to be confused with the bubble (we all know what caused this in the US and here), was an acceleration of building and new inventory at and over the top.

You are clearly confused about cause and effect. Excessive supply (effect) is a lagging indicator of excessive demand (cause). In this case fuelled by excesses in housing finance.

jesse
Member

@Girlbear: “I feel like realtor commissions could start to become negotiable…”

As patriotz stated, they always have been — seen it many times over the past decade — the question now is who the Realtors are likely to light a fire under to close. In current conditions owners trying to sell will be all the more desperate to secure a sale. Example if you’re an owner trying to sell and you want a quick sale, which Realtor do you chose: the one who discounts or the full-service one who markets the crap out of the property? Further, as a Realtor, you’re looking to get clients most likely to produce a sale. In the US Realtors were known for triaging listings, kicking aside owners who had unrealistic expectations, and putting all their efforts into ones with a snowball’s chance.

Jack
Guest
Jack

Best place on meth Says:

December 6th, 2012 at 4:16 pm

I’d like to see someone come out on TV as the anti-Tom Vu and tell people how to become rich by NOT buying real estate.

Same fancy car, same bikini girls, same big house – only rented.

————————————-
Meth,

Perhaps you can do it.

Call yourself Lord, I don’t own Jack!

Keeping An Eye On The Pimps
Guest
Keeping An Eye On The Pimps

“I strongly believe that this is the opportunity that many people have been waiting for. We can sit on the sideline and a few years from know talk about the opportunity that was missed, or buy now and profit from the downturn.”

Too funny.

Talk about Big Trouble in Little China.

There is nothing left on this carcass.

The vultures have also finished eating their young.

Nobody left to buy except those who can’t afford it; and a few who can afford it, but have calculators.

patriotz
Member

Fed’s Q3 Flow of Funds: Household Mortgage Debt down $1.15 Trillion from Peak
Take a good look at the third graph. Mortgage debt peaked two years after house prices. If the same thing happens in Canada – which is likely IMHO – it will severely limit the government’s ability to engineer a “soft landing”, as there will be repercussions if it is seen to be abandoning its stated commitment to bring consumer debt under control.