FFFA! Inspections, Inventory, Data & The Bear Show

Hey, you made it to the end of another work week! Lets do our regular end of the week news round up and open topic discussion thread, here are a few links to kick off the chat:

–Don’t trust the realtors inspector?
–Old inventory hits the roof
–Inventory hits highest level in decade
–Man loses $745000 condo deposit
–It’s a dogs market in Vancouver
–So far so good for soft landing
–or not
–Ah, historical data
–Are you going to the show?
–

So what are you seeing out there? Post your news links, thoughts and anecdotes here and have an excellent weekend!

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gokou3

9 years ago

Re: #127

“I didn’t see developers trying to get out of presale contracts when prices were going up and the presale buyers were flipping condos at completion for huge gains.”

I think that happened a few years ago for a development marketed by Fred Moy (aka Cheap Moy), a chinese realtor well known for promoting cheaply built places along the kingsway corridor. Those were the good days..

asiaman

9 years ago

I keep looking in on my buddies here at VCI in my mind its simple, crash will come when interest rates move that will be crash number one, second crash will come a decade or two later when baby boomers start dying en masse. the canadian real estate market in the west is absolutley screwed valuation wise. Its just like the Japanese bubble which is still deflating, but defalted enough to be a good deal (minus the radiation and stuff).

auric goldfinger

9 years ago

@147 Short’em High,

is it war between West and East where price of GOLD AND SILVER
is the battlefield.

http://www.aljazeera.com/indepth/features/2011/09/201199175046520396.html

auric goldfinger

9 years ago

@147 Short’em High,

We live in interesting times.
Has gold lost its shine,
http://www.theglobeandmail.com/globe-investor/inside-the-market/all-shine-and-no-substance-the-reality-of-gold/article11169399/

or is it war between West and East where price of GOLD AND SILVER
is the battlefield.

Short'em High

9 years ago

@Reality#150. One sided? If you’re right, you’re right. For one, I’d like to know what sort of financing leverage is actually available based on your rental value arguments. Is this a 10% down deal with a CMHC form? How much money does one have to put up to get in on this once in a lifetime opportunity?

Anonymous

9 years ago

the crowd here in this blog were doomed long ago, in case you havent noticed. example, one had to move all the way to ottawa and still posts every hour.

Short'em High

9 years ago

@YLTNboomerang#149. Can you place the month when you posted your data? I vaguely remember seeing a table or spreadsheet of detached properties but can’t place when that was. That REBGV HPI methodology document is revealing if data is available. If there are enough poperties and explanatory columns in your post it could be interesting.

Reality

9 years ago

Whatever guys. I think I’ll just move on from this one sided blog. Let’s concentrate the doomed crowd here to reinforce your opinions.

YLTNboomerang

9 years ago

@Shortem

I lost acces to MLS (a friend gave me their user info) a few years back so my data now consists of weekly manual recording from the public MLS listings. The problem in using this data for any statistical analysis is that sometimes I was too busy with work to record sometimes or I had to make assumptions when a place re-lists as to whether the owner is the same person or a new flipper. The bottom line is my data, which was posted on the forum a while back, is food for anecdotal references.

jesse

9 years ago

“Families I know are buying sfd homes with suites”

Maybe it’s semantics but if you have an SFD with suites, that sounds kinda “multifamily” to me.

Short'em High

9 years ago

@#144Goldfinger! On my screen I see -$50 breakdown to peak and even more if you sold at the death rattle rally that was crushed around 3 hours after open. BTW, NY and London were electronic trading since 3pm Sunday Vancouver time as I pointed out in my earlier post on Saturday in this very thread! Yes it’s true that when the equity monkeys wake up on Monday to check the price of their SPDR GLD shares anything could happen to my 100oz short, so I don’t count my chickens yet. London regular hours start around Sunday midnight Vancouver time, so check your screen. Maybe those deep pocket believers like Peter Schiff will step up and make it interesting! Gold is really cheap now so they should be buying, right? @Reality#143, please buy all the Surrey places can borrow and fix… Read more »

Anonymous

9 years ago

@ Reality

If any correction is on the horizon….

Are you suggesting that nothing has begun to correct?

anonymouse

9 years ago

Surrey, a little bit of heaven on earth.

auric goldfinger

9 years ago

GOLD plunged $36 in asia. prepare for a blood bath in NY and London
on monday.

Reality

9 years ago

Post 140 wasn’t meant to be hurtful. It was an observation. I too am looking for a second home and found that the open houses were very busy today. I’m not a real estate agent. I’m not worried about a potential correction that may or may not happen. What I Do Know is rent will pay off 33% of the house (has 2 suites also) within 10 years…and 50% within 15 years. So are houses going to be 50% cheaper in 15 years?? Factoring in inflation of 50% over the next 15 years means that my mortgage will be a smaller portion of the value of my 2nd home. Families I know are buying sfd homes with suites. The upstairs and the 2 suites provide more than enough income to cover the rent and other expenses. Surrey is looking into… Read more »

Anonymous

9 years ago

Reality: “Open Houses very busy Today.”

Open houses are full of people who have not bought. For the most part tire kickers. Sorry, not going to help with your earnings. It is going to be a lean Spring for realturds.

Reality

9 years ago

*2014

Reality

9 years ago

Open Houses very busy Today.

Summer just around the corner. If any correction is on the horizon, looks like winter 2104 now.

omfgitslikegrouponbutforcondosftw

9 years ago

Meaningless factoid, but I just noticed a 7-digit MLS number (V10000xx). Looks like we’ve passed V999999.

Anonymous

9 years ago

This is the new normal. A sideways market. No crash. Why would there be a crash? Because every bubble crashes? That assumes that this is a bubble. Some people think that every time prices grt a head of fundamentals that it’s a bubble. This is false.

frank

9 years ago

Things not so rosy in the Okanagan

http://fishyre.blogspot.ca/2013/04/whats-up-in-okanagan.html