Look out Real Estate world, here comes Rogers.

Canada hasn’t got a Zillow yet, but that might be changing.

Rogers is making moves into the Real Estate business now:

The mobile and cable giant has applied to become a licensed real estate brokerage right across Canada and is aiming to relaunch its five-year-old website Zoocasa.com in May as a unique, one-stop-shopping site for homebuyers.
It’s aimed at going far beyond U.S.-based property listing services such as Zillow and Trulia which have revolutionized house hunting south of the border by providing critical data that can help potential buyers assess the value of a property from the comfort of their home computer.

Read the full article in The Star.

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G
Guest
G
3 years 3 months ago

http://www.youtube.com/watch?feature=player_embedded&v=O282EJ94Cug#!

First condo building in Vancouver to pass no smoking in the building.

I hope to see more buildings like this.

patriotz
Member
3 years 3 months ago

The rebuilt Zoocasa site will have “the most complete list of property information that can be provided to consumers, including neighbourhood and related information,”

My translation of this is “we will tell you all about the shopping near this property but don’t expect to see any information about prior sales or listings.”

jesse
Member
3 years 3 months ago

Great, now I can rack up $20,000 bills while househunting.

chilled
Member
chilled
3 years 3 months ago

jesse jesse Says:
March 25th, 2013 at 2:11 am

Great, now I can rack up $20,000 bills while househunting.

+++++++++++++++

Not only that, being placed on hold for a couple of hours, while trying to arrange a viewing, should be fun as well.

Q
Guest
Q
3 years 3 months ago
Glass condo towers are the ghettos of the future. From the Toronto Star: ” Ted Kesik, a professor of building science at the University of Toronto and an outspoken critic of the condo development industry, says he, too, worries that condo developers care more about profits than ensuring their buildings last. “I feel sorry for people in buildings like that, because those windows are going to fall out in an extreme weather event. There will be water damage. It’s just going to be a mess.” … “When you look at the size of the little window that opens — because… Read more »
Many Franks
Guest
Many Franks
3 years 3 months ago
Toronto suddenly starts to wrestle with a deep dark thought that only recently popped into its collective mind. Are Toronto’s new condos built to last? Ted Kesik, a professor of building science at the University of Toronto and an outspoken critic of the condo development industry, says he, too, worries that condo developers care more about profits than ensuring their buildings last. “I feel sorry for people in buildings like that, because those windows are going to fall out in an extreme weather event. There will be water damage. It’s just going to be a mess.” The builders counter with… Read more »
Many Franks
Guest
Many Franks
3 years 3 months ago

@Q: Scooped. Great minds think alike! (And so do we.)

JD
Member
JD
3 years 3 months ago

Let’s not forget the 2 hour time window for meeting your realtor to view the property!

Short'em High
Guest
Short'em High
3 years 3 months ago

Cyprus follow-up on the question of when, rather than what will happen.

http://postimg.org/image/e6i6ivhjr/

Anonymous
Guest
Anonymous
3 years 3 months ago
As I was walking in the Fraser neighborhood yesterday, I noticed that the population, on average, seem to be composed of workers, and may be some middle class family, but I bet the average household income is below the province average. I was dressed in MEC, I guess one could tell I did not belong to that neighborhood, and some people were giving us the strange look. Now, I belong to the top 5 percent in terms of income. Nevertheless, I cannot afford any of the houses for sale in that neighbourhood. Clear sign we are in a bubble? Are… Read more »
Many Franks
Guest
Many Franks
3 years 3 months ago

@Anonymous: Heh. Only in Vancouver would an outfit from MEC be proposed as a mark of ostentation. Did you know that most cities don’t normally have hiking poles in the umbrella stands at fancy restaurants?

Anonymous
Guest
Anonymous
3 years 3 months ago

I wonder what Mila Kunis thinks about Cyprus.

Aleksey
Guest
Aleksey
3 years 3 months ago

It would be a good news if it wasn’t about Rogers.
The worse company in Canada I had a bussiness with.

Many Franks
Guest
Many Franks
3 years 3 months ago

Where do mortgage rates go from here?
Hint: duh.

“It’s very difficult to conceive of a sharp downturn in this market when mortgage rates are so low,” said Mr. Soper.

That’s a failure of imagination, Phil, not an indication of probability.

On the plus side, Martin Reid from Home Capital Group (one of Rabidoux’s favourite shorts, IIRC):

“It was already slowing down [before the mortgage] rule changes,” said Mr. Reid.

Really?
Guest
Really?
3 years 3 months ago
“In her mind, real estate has only every benefited people. When asked what about the 1/4 underwater in their mortgage in the US, she responded that everyone did short sales; that the banks wipe out the difference between assessed value and what they own; give the owners back that money after the sale so no loss to the homeowner; and that you only have a blip for 2 years on your credit.. As a result, there is no risk, and real estate always goes up.” From yesterday’s post, but this sounds too good to be true. I never read anything… Read more »
b5baxter
Member
3 years 3 months ago

No sub-prime loans in Canada?
Yeah, right:
http://www.sequel138.com/
(0% down mortgages)

Spit
Guest
Spit
3 years 3 months ago
A few thoughts on what the Cyprus deal means to Vancouver (and Canadian) real estate and banks: 1. Wealthy European depositors will start looking for safer havens for their money, and may look at Canadian Banks as they have been touted as ‘safe’ over and over in the global media. 2. Inflow of cash into Canada will keep interest rates suppressed as there will be more money chasing return (supply/demand). 3. Some of this money may go into REIT’s or directly into medium to high end real estate, keeping Canadian real estate propped up. 4. Canadian savers will continue to… Read more »
Many Franks
Guest
Many Franks
3 years 3 months ago

@Spit: Somehow I doubt any central banker is cheering about tiny, inconsequential Cyprus blowing huge holes through global finance. Just like I doubt the latest deal has solved anything or restored trust in European banking. And while I’m so full of doubt, I’ll also doubt that Vancouver is suddenly going to look like the go-to place to park scared European money. Or angry Russian money.

But hey, that’s just, like, my opinion, man.

suomynonA
Guest
suomynonA
3 years 3 months ago
that the banks wipe out the difference between assessed value and what they own; give the owners back that money after the sale so no loss to the homeowner; and that you only have a blip for 2 years on your credit.. Sounds like someone doesn’t understand what a short sale is. What is this money they ‘give back’ to the owners after a short sale? A short sale is the bank cutting their losses when they see the market continuing to decline. They agree to sell the house for less than what is owed on it. There’s no money… Read more »
bon jovi
Guest
bon jovi
3 years 3 months ago

i have been in contact with few friends in Spain, Cyprus and Greece and they all are pulled the money out of the bank. They will keep it in safe at their homes. They leave only little in the account just for day-to day expenses. These are small depositors 100k-200k. They don’t trust any bank anymore. I highly doubt that they even trust banks in North America. Big money? I really have no idea what they are planning to do.

Spit
Guest
Spit
3 years 3 months ago

@Many Franks: Part of me agrees with you, but there is no doubt that the rich money in Europe is going to be on the move if it isn’t already, and especially out of Spain and Italy. Canada is as likely a place as any for this money to go really (Swiss would probably top the list however).

Also, I have noticed a growing number of Russians out here in New Westminster over the last few years, so who knows maybe word will get back to Sergei that New West is a real estate mecca! 😉

Many Franks
Guest
Many Franks
3 years 3 months ago
@Spit: I was being more than a little flippant with that last response. Seriously, though, I wonder where all these burned investors will be getting their information from; the “Canadian banks are safe” maxim is pretty played out, and I wonder to what extent that particular Conservative Government lens has been turned on us as voters rather than the outside world as potential investors. I’ll bet rating agencies play a considerable role for external investors when comparing potential havens, and those agencies haven’t been kind to Canada recently. My speculation is that clean money will be returning home until this… Read more »
Spit
Guest
Spit
3 years 3 months ago
@Many Franks: ‘I’ll bet rating agencies play a considerable role for external investors when comparing potential havens, and those agencies haven’t been kind to Canada recently.’ Good information, thanks. Quick check of Canadian bank stocks shows they are pretty much flat to up over last 6 mos. Another thought hit me, that being local RE cartel can use the Cyprus/Euro chaos as another ‘Wealthy foreign investors’ meme to peddle to the local MSM cartel. Clean money going home makes sense, however my personal experience with wealthy individuals is that they don’t always make wise decisions (sorry, no billionaire experience so… Read more »
Really?
Guest
Really?
3 years 3 months ago
Not to harp again, but I have reviewed several Q and As for short sales, and I still do not fully understand them. If you have a short sale, do you keep your equity? It seems if the house is worth less then what the mortgage is and you do a short sale, the proceeds from selling the property will fall short of the balance of debts, and the bank will agree to accept less then what is owed to them. In this scenario, how can you possible walk away with any equity, I chatted with a RE agent whose… Read more »
suomynonA
Guest
suomynonA
3 years 3 months ago

In this scenario, how can you possible walk away with any equity,

I chatted with a RE agent whose brother did a short sale in one state, came away with 300,000 and then bought a home free and clear in another state. I call BS….

Exactly. Total BS. There is no equity in a short sale. It’s ‘short’ because you owe more than the property is worth. The equity is NEGATIVE. There is no equity to pull out.

Really?
Guest
Really?
3 years 3 months ago

Thanks – the RE spoke with a very confident tone and claimed that all short sales could extract equity. Did not know enough other than the intuitive notion that you were short…

Amanda Li
Guest
Amanda Li
3 years 3 months ago

“WOW!! What a beautiful kitchen
Me and my sister are checking it out.
Me and my sister have to tell our
Russian boyfriends, who live in Cyprus
what we like and they will buy a Vancouver
Condo for us!

Bag it and tag it
Guest
Bag it and tag it
3 years 3 months ago

Short Sale
Benefit to bank: They lose less money than going through foreclosure
Benefit to home ownner: They can come away with no blemish (or much less) on their credit rating, than going through foreclosure.

Democrass
Guest
Democrass
3 years 3 months ago

Regarding Cypriot money coming to Canada, yeah right… Because that’s easier and more secure for a European than Switzerland or the Isle of Man, etc., etc.

Democrass
Guest
Democrass
3 years 3 months ago
Here is an interesting passage from Paul Krugman’s piece today in the New York Times: It’s hard to imagine now, but for more than three decades after World War II financial crises of the kind we’ve lately become so familiar with hardly ever happened. Since 1980, however, the roster has been impressive: Mexico, Brazil, Argentina and Chile in 1982. Sweden and Finland in 1991. Mexico again in 1995. Thailand, Malaysia, Indonesia and Korea in 1998. Argentina again in 2002. And, of course, the more recent run of disasters: Iceland, Ireland, Greece, Portugal, Spain, Italy, Cyprus. What’s the common theme in… Read more »
Pike
Guest
Pike
3 years 3 months ago

Anybody following the North Delta and Surrey (not south surrey) markets? Are they in bear or bull territory now?

gokou3
Guest
gokou3
3 years 3 months ago

#26, realtors have confidence injected into their DNA (from the material in their 6-week courses)… doesn’t mean they are correct though.

kabloona
Member
kabloona
3 years 3 months ago

#27

Are you trying to be funny or something…????

patriotz
Member
3 years 3 months ago

“Benefit to bank: They lose less money than going through foreclosure”

Exactly. The other factor that should be pointed out is that short sales are the most popular in no-recourse states (which are the minority, but there are a few big ones like California) because the owner has the option of walking away without the bank going after his assets anyway.

patriotz
Member
3 years 3 months ago

“These are small depositors 100k-200k. ”

Your friends have 100k-200k cash Euros in the bank and they consider themselves “small depositors”? What’s their idea of a big depositor? I doubt the average person in those countries has close to half that – certainly the average Canadian doesn’t.

Clarity
Guest
Clarity
3 years 3 months ago
I think I can help solve the whole short sale issue here with realtors. Many of you seem to be arguing about the semantics but the real problem is that realtors cannot produce logical/mathematical arguments properly when it comes to housing. These laws that we bears are so familiar with are erased during a portion of the 5 week training course not unlike the Hollywood movie “The Adjustment Bureau”. They are replaced with one single rule, all statements that encourage higher home prices or increased sales activity are true. Of course it’s also frustrating to argue with them because in… Read more »
kabloona
Member
kabloona
3 years 3 months ago
Interesting rent-vs-buy argument in the Seattle Times. I’m really, really confused…..cuz Cam Muir told me it was ALWAYS better to buy…. Who does this Stan Humphries character think he is, anyway? http://seattletimes.com/html/businesstechnology/2020614946_sundaybuzz24xml.html Originally published Saturday, March 23, 2013 at 8:01 PM A new analysis suggests you should rent instead of buy a home in the Seattle area if you plan on living here for less than four years. That’s the second-longest “break-even horizon” among major U.S. cities examined by Seattle-based Zillow. The online real-estate database and marketplace calculates a break-even point of 3.7 years for the metro region and 4.3… Read more »
Good to be out
Member
Good to be out
3 years 3 months ago

Re: Here comes Rogers,

I think any competition is better than what we have right now.

vangrl
Member
vangrl
3 years 3 months ago

well that house that was just re-listed last week for $110,000 less than it was listed for before Christmas (the half lot house at 8th and Vine that I posted about a few days ago), now has a sold sign on it…. whoda thunk

http://www.homes.com/listing/184702148/2344_Vine_St_VANCOUVER_BC_V6K_3K5

bon jovi
Guest
bon jovi
3 years 3 months ago

“Your friends have 100k-200k cash Euros in the bank and they consider themselves “small depositors”?

they are in their late 40s, have decent income of 100k euro annually, had free education so no student debt of their own or for their kids, free health care, never owned a car debt since they use efficient public transportation..so if you add all this up there are huge savings in their budget so it is not unrealistic to have saved 100k

vangrl
Member
vangrl
3 years 3 months ago

and on another note my brother had an offer on his house (listed since last summer and reduced once by about 10%), the subjects are supposed to be removed today but he’s heard nothing yet from his realtor…. the suspense is killing me, every toe and finger are crossed

Amanda Li
Guest
Amanda Li
3 years 3 months ago

For Kabloona
#33
Here is the whole story
You can see pix of me and my sister

http://whispersfromtheedgeoftherainforest.blogspot.ca/2013/02/media-manipulation-you-decide.html

Amanda Li
Guest
Amanda Li
3 years 3 months ago
Devore
Member
Devore
3 years 3 months ago

“Your friends have 100k-200k cash Euros in the bank and they consider themselves “small depositors”?”

Yeah, pretty funny. If I had the kind of money to consider a $100k deposit “small”, I certainly wouldn’t keep it in the bank. To what purpose, to masturbate to the monthly statement? At least stick it in a massive money market fund, it will be more liquid and safe than some 3rd world country bank account.

Sheesh
Guest
Sheesh
3 years 3 months ago

@kabloona

The NY Times website featured an interactive buy/rent calculator a couple of years ago. I plugged in some typical numbers for Vancouver, but unfortunately the Times did not include results past a 30-year breakeven point, so I’m not sure exactly what the result would be, just that I’d probably be dead before it happened.

Yalie
Guest
Yalie
3 years 3 months ago
RE: “Break-even” point. Hmmm… I find this whole concept rather dubious from the start. Nobody talks about “break-even” point for stocks. Either they are a good buy today or they are not; it doesn’t depend on how long you plan to hold them. The only reason that your time horizon could theoretically affect your buying decision would be transaction costs, in particular realtor’s commissions, since they would be amortized over the duration of the holding period. But from reading the Zillow article, it doesn’t appear that transaction costs are the main reason they believe there is a so-called “break-even point”… Read more »
No Way!
Guest
No Way!
3 years 3 months ago
Alright, I know everyone has slammed realtors here, saying it only takes 5 weeks to become a realtor… I always thought it was an exaggeration until I looked up how to become a realtor on the Island…. You have to take two separate courses – each one with ten units, consisting of 30 hours each, for a grand total of 60 hours….60 hours!!!!!!!!!!!! That learning period if a week and half a regular job… I know non-professionals (not lawyers or engineers) who have taken longer career development courses…. My god, trusting your financial well-being to someone who has a had… Read more »
gokou3
Guest
gokou3
3 years 3 months ago

This is the course one needs to take to become a BC REALTOR:

http://www.recbc.ca/licensing/trading.html

“On average, most individuals complete the course and exam within six months, based on completing one assignment a week and usually spending 10 – 12 hours per assignment. The course covers a variety of real estate, legal, finance and valuation topics and for detailed information you can view the Table of Contents.”

Take someone 6 months to screw you around for 25 years (of mortgage payments)!

Chip
Guest
Chip
3 years 3 months ago

“they are in their late 40s, have decent income of 100k euro annually, had free education so no student debt of their own or for their kids, free health care, ”

Nothing is free. The costs are hidden in their taxes.

paulb
Member
3 years 3 months ago

Oops, almost forgot to post. My baby girl (our 3rd) was born last night at 9pm. A happy and hearty 8lb 3oz!

New Listings 284
Price Changes 128
Sold Listings 177
TI:16437

http://www.paulboenisch.com

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