2nd most expensive home is a tear-down

The second most expensive property ever listed in Canada is a teardown in West Vancouver.

It’s like an itty-bitty Versaille on a waterfront lot.

But there’s something special about this waterfront lot:

Asked how the home has changed since 1964, Tsavdaris answered: “It hasn’t.”

The current owners, who have lived on the West Bay property since 1978, are looking for something smaller, according to McLaren. “They just want to pull the value out of the land. It’s the last piece of flat waterfront,” she said.

That’s right, it’s the absolutely last piece of flat waterfront until the next waterfront teardown comes onto the market.

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Anonymous
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Anonymous

Patiently Waiting Says:

“February 20th, 2013 at 7:49 pm

The huge emerging problem with languages is elder care. Up until now, there’ve been very few non-English speakers in care homes. Just wait, in a few years the language problem will be a crisis.

How do you deal with a dementia patient, family too busy to help much, and no ability to communicate with staff? The whole system will be under stress from this.”

have you got any idea what kinda training it takes just to be a caregiver? people pee infront of your door too much, you can not go past beyond your living room.

Anonymous
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Anonymous

Name taken Says: “The last time I checked going rate for a good tax lawyer it was $650/hour. Who do you think pays that and why?”

Someone who is under investigation for tax evasion?

Otherwise you hire an accountant for 1/10 the cost like everyone else.

VMD
Member

[Business leaders offer solutions to chronic pension shortfalls]
The proposals coming from Bay Street on Wednesday include a system for voluntary contributions to Canada’s national pension plan, and compulsory savings schemes like those made popular in countries such as Singapore.
http://business.financialpost.com/2013/02/20/business-leaders-offer-solutions-to-chronic-pension-shortfalls/

Anonymous
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Anonymous

Patiently Waiting Says: “How do you deal with a dementia patient, family too busy to help much, and no ability to communicate with staff? ”

OK you win the dunce cap for the day. If you have ever been to a health care facility you would realize the majority of workers are made up of non whites who speak other languages in addition to English. One of the reasons for immigration is so we have health care workers to care for the elderly. If you have ever been in a hospital or old age care facility you would see MOST of the staff are ESL. This comment shows how dense some people are.

Vote Down The Facts
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Vote Down The Facts

Absinthe, most of the price paid here is for the land and not the structure. Conversely, in London at least, much of the land is owned by the Duke of Westminster and you’re paying for a leasehold.

Absinthe
Member
Absinthe

Although that home is hideous, it alarms me that something just 50 years old and ostentatiously and expensively built at the time is considered a “teardown”.

I have friends in Great Britain living in lovely 200 year old flats which were not built by shipping magnates vomiting money into a pile of marble and gold; certainly, if you’re going high end, expensive usually has a shelf life of more than half a century. Man alive.

Anonymous
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Anonymous

Lots of knob posts today. I guess local realturds are cruising the blogs rather than dropping off resumes at Starbucks. I sympathize; applying for jobs you’re not qualified for is daunting .

Help
Guest
Help

Ahhhhh! Please stop with the old folks, language, and tax talk. It’s booooring and not very RE at all. Seems like everday, late afternoon-ish, the blog gets high jacked with some crap non RE chatter. Come on, people! And if you’re gong to go off topic, for God’s sake at least be entertaining.

Some Guy
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Some Guy

@97 “Second, if some newspaper published something then it must be the ultimate truth, right?”

Well, at this point it is the world’s most reputable newspaper, the NY Times (and the experts and studies quoted in the article) vs. some unsupported anonymous assertions by you.

I guess people can choose who to believe. Those still on the fence, might want to note your support of voodoo economics in @83 (the idea that tax receipts go down when rates go up and vice-versa), another standard right wing talking point that is sadly at odds with reality for any realistic level of taxation.

VMD
Member

The hottest thread on a Chinese forum in the past week (well, beside my two threads which are at 129k view counts combined), is about someone bragging about his investment in Las Vegas generating 8% cap rate, which is miles ahead of the 1.5% cap rate he get from his investment property in Vancouver.

Lots of people asking for PMs of his realtor/property manager’s name.

Even the local “HAM” is abandoning Vancouver now…

Elephant in th room
Guest
Elephant in th room

It pretty much goes without saying that the deadbeat retires are going to be almost all white people.

Immigrants save like crazy and its a lot more common for their kids to feel responsibility towards their elders.

painted turtle
Guest
painted turtle
@bon jovi RE: people who do not save for retirement. I know several people who are close to 50 or over and spend like there is no tomorrow. There are different attitudes. The most prevalent is a latent form of depression = the ostrich strategy. The task ahead is so demanding that they decide not to think about it. The justifications are many: 1) I might be dead before age 65, so what is the point. 2) carpe diem 3) I still feel very young, I have plenty of time to think about it 4) The government will not let me down because there are many people like me 5) if the Jones can spend money on a new flat screen TV, then it means I can do the same 6) one day I will start investing and my money… Read more »
Name taken
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Name taken
Some Guy #86- first of all, people moving and taxes moving are not exactly the same thing. Taxes are actually much easier to move. What do you think accountants and tax lawyers are busy with? The last time I checked going rate for a good tax lawyer it was $650/hour. Who do you think pays that and why? Second, if some newspaper published something then it must be the ultimate truth, right? It is not a myth. I know of both current and future dollars that have already left BC because of PST. Finally, there is another aspect here- instead of moving taxes folks can choose to simply forgo income. This whole progressive scale is unfair because to sustain higher income you have to spend more of your time and somehow additional time that you don’t get to enjoy life… Read more »
VultureBoy
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VultureBoy

FYI. On the MAC facebook page:

“For over ten years, MAC Marketing Solutions has strived for excellence built on a foundation of honesty, integrity and professionalism. This was rocked 10 days ago when poor judgment resulted in an inappropriate and uncharacteristic incident. I apologize for that incident and pledge that nothing like this will ever happen again at MAC. Having had the opportunity to assess the situation I have taken decisive actions. Although it will take time, we hope that we can earn back our good reputation and your trust. This situation has been difficult for everyone and as a company, we will learn from this, grow stronger and be better for it.

Regards,
Cameron McNeill
President, MAC Marketing Solutions”

JT
Guest
JT

VancouverSun: MAC Manager resigns after marketing employees posed as Chinese buyers http://t.co/x6DQ1kB4Pz

Patiently Waiting
Member
Patiently Waiting

The huge emerging problem with languages is elder care. Up until now, there’ve been very few non-English speakers in care homes. Just wait, in a few years the language problem will be a crisis.

How do you deal with a dementia patient, family too busy to help much, and no ability to communicate with staff? The whole system will be under stress from this.

Anonymous
Guest
Anonymous

” Wrong. The language ability of immigrants was not on Hitler’s mind according to every history book I’ve read.’

You can read? LOL. Hitler was too busy sending them to the gas chamber to worry about language skills. Sounds like your style.

Anonymous
Guest
Anonymous

Democrass Says: “Why should taxpayer pay for translation services in court proceedings, multilingual publications, translators in hositpals, ESL classes and teachers for a bunch of self-entitled rape-the-system immigrants who don’t bother learning the language?”

Because the taxpayer voted in the government who makes the rules. What part do you not understand?

I will give you a hint. If the taxpayer didn’t want this we would have a different government and different policies. Do you see any politicians with similar views as yours? No. Do you wonder why? Because the vast majority of the voting public are in disagreement with you.

Anonymous
Guest
Anonymous

Democrass Says:

Speak what you want at home.

Um, if they are in Canada then Canada is home.

Wrong again. The voting public voted in a government that has made English or French language skills mandatory in new immigrants.

So then what are you complaining about? All is well for new immigrants.

Democrass
Guest
Democrass

Look at the listing history of this place (posted on http://vancouverpricedrop.wordpress.com/) The asking price rises 300% from 2009 to 2011 when a new house was built at this address. Those were the gold rush days. What price will this owner get for his gamble?

#6 ) Address:2145 HARRISON DR, Fraserview, Vancouver East

April 22, 2007 V642727 $658,000 $0 0%
May 02, 2007 V642727 $618,000 $-40,000 -6%
May 23, 2007 V642727 removed after 31 days
January 05, 2008 V682087 $709,000 $0 0%
February 13, 2008 V682087 removed after 39 days
April 11, 2008 V700510 $779,000 $0 0%
April 30, 2008 V700510 $748,000 $-31,000 -4%
July 01, 2008 V700510 removed after 81 days
August 23, 2009 V783441 $759,000 $-20,000 -3%
November 28, 2009 V783441 $749,000 $-30,000 -4%
December 24, 2009 V783441 removed after 123 days
February 10, 2011 V868248 $2,398,000 $0 0%
August 12, 2011 V868248 removed after 183 days
February 13, 2013 V989991 $1,688,000 $-710,000 -30%

Democrass
Guest
Democrass

“Canada is a free country where you can speak any language you want.”

Speak what you want at home.

Why should taxpayer pay for translation services in court proceedings, multilingual publications, translators in hositpals, ESL classes and teachers for a bunch of self-entitled rape-the-system immigrants who don’t bother learning the language?

“You would have fit in well in Nazi Germany.”

Wrong. The language ability of immigrants was not on Hitler’s mind according to every history book I’ve read.

“Regardless of how you feel that is what the voting public wants”

Wrong again. The voting public voted in a government that has made English or French language skills mandatory in new immigrants.

You don’t know history and you know current events. You must be a real estate debtor.

Some Guy
Guest
Some Guy

Sorry, I meant to also post this relevant quote from the NY times article on the myth of tax flight (@86):

“To the extent that people leave a state, or shun a potential destination, they do so primarily for other reasons, such as to find **more affordable housing**, better job prospects or a more attractive climate.”

Emphasis added 🙂

Anonymous
Guest
Anonymous

“The sad thing is tax revenue will decrease as it always does after a certain level is reached.”

Yes but what the Liberals are trying to do is get reelected by balancing the budget. The alternative is they don’t balance it, the NDP gets in and tax rates increase significantly more. The 2% is nothing compared to what you will see with the NDP in. And yes that will mean net tax revenue will be reduced and another one term NDP.

Some Guy
Guest
Some Guy
“you are an idiot of you think that “suck it up” is how it works. Taxes will migrate away from BC.” Not so much, really: http://www.nytimes.com/2013/02/16/business/high-taxes-are-not-a-prime-reason-for-relocation-studies-say.html?pagewanted=all&_r=0 From the NY Times article: “The notion of tax flight “is almost entirely bogus — it’s a myth,” said Jon Shure, director of state fiscal studies at the Center on Budget and Policy Priorities, a nonprofit research group in Washington. “The anecdotal coverage makes it seem like people are leaving in droves because of high taxes. They’re not. There are a lot of low-tax states, and you don’t see millionaires flocking there.”” … To include some real estate content in this post, I’ve noticed in the area I look at (tri-cities) that there are lots of new listings at the high end of the market (> $1 million), but not much being listed in… Read more »
Anonymous
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Anonymous

When’s the big crash? Still waiting. It’s been so many years…