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

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

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

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

chilled
Member

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
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
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

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

JD
Member

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

Short'em High
Guest

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

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

Anonymous
Guest
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

@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

I wonder what Mila Kunis thinks about Cyprus.

Aleksey
Guest

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

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
“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

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

Spit
Guest
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

@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
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

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

@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
@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
@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
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

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.

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