Open Topic

FFFA! Rates, Redevelopment, Fraud and Stupid Pictures

170
170 Comments

It’s that time of the week again!

This is when we do our regular end of the week news round up and open topic discussion thread for the weekend.

It’s Friday Free-for-all time!

Here are a few recent links to kick off the chat:

–Vancouver Facts
–End of the party feel
–$1200 fine for forgery
–Bad home sale numbers?
–Stupid RE pic awards
–Little Nest pushed out by rent
–Oakridge wants to grow
–BC MOI for March
–Hawaii uses Vancouver to cheer up
–After correction US prices rise

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

Sort by:   newest | oldest | most voted
patriotz
Member
patriotz
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

What You Get for … $820,000

A mansion! How about that.

You Must Be Logged In To Vote00You Must Be Logged In To Vote
5 years 3 months ago
Mr X
Guest
Mr X
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.
A Vancouver developer is suing the federal government because the land the developer bought from the government was used for Second World War training exercices and may contain unexploded bombs, which was undisclosed in the transaction” “K&L Land Partnership paid $15 million for a 546-hectare parcel of land with views overlooking Kalamalka Lake near Vernon in order to subdivide it for eager home buyers in 2005. The developer’s land overlooks scenic Kalamalka Lake, a popular boating destination just south of Vernon, B.C. (LN/Wikimedia Commons)But by 2011 the developments were put on hold after the company discovered the land could contain unexploded military ordnance. Between 1939 and 1945 the Vernon Military Camp, which was located right next to the developer’s land, trained soldiers how to use bombs, grenades and mortars before they were sent to war. According to the lawsuit, since… Read more »
You Must Be Logged In To Vote00You Must Be Logged In To Vote
5 years 3 months ago
crikey
Guest
crikey
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.
Until recently British Columbia’s longstanding advertising slogan was “The Best Place on Earth”. Indeed there is a list of very good reasons for such pompous conceit, extreme arrogance… Move over ‘Chuck Norris facts’, here come ‘Vancouver facts’! Vancouver fact #10 Much like any other peasant that doesn’t live in Vancouver, Albert Einstein was obsessed with the city. For example, he was in fact explaining the Vancouver media’s universal real estate reporting philosophy when he famously said, “Imagination is more important than knowledge”. Vancouver fact #63 The term “Wet Dream” was actually originally concocted to describe the perfect paradise that is Vancouver’s many, mnay rainy days of the year. More recently, the phrase “Every Person’s Wet Dream!” nearly beat out “Best Place on Earth” as motto for the province’s longrunning advertising campaign. Vancouver fact #104 Vancouver is part of one of… Read more »
You Must Be Logged In To Vote00You Must Be Logged In To Vote
5 years 3 months ago
BWilson
Guest
BWilson
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

For the first time since February the Canada 5 year bond is yielding more than 1.50% today.

(1.505% as of 7:04)

You Must Be Logged In To Vote00You Must Be Logged In To Vote
5 years 3 months ago
Skook
Member
Skook
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.
Research for a Sunshine Coast property took me to a condo/townhouse development in Calgary. It’s in a hot area of Calgary called Mission and you know who the developer was targeting when the colour scheme choice is “sexy package” or “soulful package.” Pre-sales began Feb 10, 2012 and 60% were sold within 4 days and the complex sold out within 10 months. What was frightening about this project was the fact that the developer struck a deal with TD to handle approval and financing. As two points from the project website shows, the developer wasn’t keen on buyers going elsewhere: “6. Why is a commitment letter from TD mandatory?: TD is offering an excellent package by holding today’s interest rates until occupancy. This gives you security knowing the maximum your mortgage payments will be and gives us security knowing that… Read more »
You Must Be Logged In To Vote00You Must Be Logged In To Vote
5 years 3 months ago
Guy Smiley
Member
Guy Smiley
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

Vancouver fact #19

Summer isn’t slow to arrive in Vancouver, it’s fashionably late.

You Must Be Logged In To Vote00You Must Be Logged In To Vote
5 years 3 months ago
Anonymous
Guest
Anonymous
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

Post #4:

Quit dwelling on spiking yields. You’re going to be disappointed.

They are at Feb levels but we’ll below year ago levels. Surely this is a crash lol

Oh the nikkei is crashing. It’s at April 1st levels now that it has crashed 15%.

See the point??

You Must Be Logged In To Vote00You Must Be Logged In To Vote
5 years 3 months ago
Anonymous
Guest
Anonymous
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

@Mr X

How was that undisclosed? Did they take down the fencing and signs saying “DANGER! Unexploded Ordinance” that used to surround that land?

Shame really, there is a beautiful view from there.

You Must Be Logged In To Vote00You Must Be Logged In To Vote
5 years 3 months ago
Anonymous
Guest
Anonymous
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

Nothing will pop a bubble like unexploded ordinance.

You Must Be Logged In To Vote00You Must Be Logged In To Vote
5 years 3 months ago
Priced out Renter
Guest
Priced out Renter
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

People ,
Forget listings and sales statistics.
The number to watch is the “price changes”.
There are on average about 130 price changes a day, almost all of them reductions.
It’s the canary in the RE coal mine.

You Must Be Logged In To Vote00You Must Be Logged In To Vote
5 years 3 months ago
Brian Ripley
Guest
Brian Ripley
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

Post #7 “Quit dwelling on spiking yields. You’re going to be disappointed.”

Some people in the so called U.S. Housing Recovery crowd are going to be disappointed, see:

http://www.chpc.biz/2/post/2013/05/us-housing-big-money-update.html

U.S. Institutional Funds are buying property now for rentals that yield 6 to 8 percent a year, BEFORE COSTS such as insurance, taxes and vacancies!

According to Goldman Sachs, firms building new institutional real estate assets from the 14 million leased single-family residences that are worth an estimated $2.8 TRILLION…. even as demand for rentals rises amid a falling home ownership rate….. YIELDS (Investment Returns) ARE DECLINING and companies formed to buy the homes that have gone public HAVEN’T YET BEEN PROFITABLE.

You Must Be Logged In To Vote00You Must Be Logged In To Vote
5 years 3 months ago
BWilson
Guest
BWilson
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

@ Anon. # 4

May 31, 2012 closing Canada 5 year yield: 1.242% so actually we’re quite a bit higher than a year ago, if you’re going to rip me at least get your facts right.

This matters because the relative improvement in the spring market has likely been driven by lower mortgage rates.

Rates have a huge impact on the market.

You Must Be Logged In To Vote00You Must Be Logged In To Vote
5 years 3 months ago
vinylengraver
Guest
vinylengraver
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

Hilarious:
http://vancouver.en.craigslist.ca/nvn/reo/3841081142.html

You Must Be Logged In To Vote00You Must Be Logged In To Vote
5 years 3 months ago
jesse
Member
jesse
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

“The number to watch is the “price changes”.”

I’m definitely watching it. Low sales don’t buy the GI Joe with the kung-fu grip.

You Must Be Logged In To Vote00You Must Be Logged In To Vote
5 years 3 months ago
Troll
Guest
Troll
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

Price changes are important, but they need context.

What is a ‘normal’ number of price changes per day? At what point can you declare the market in distress?

As an example, price changes are down about 20% from last year at this time. Does that mean the market is in better shape?

You Must Be Logged In To Vote00You Must Be Logged In To Vote
5 years 3 months ago
BulbsForSale
Guest
BulbsForSale
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

#13 – the funny part is that if that house was really for sale on the north shore they’d probably be asking $1.5 mil.

You Must Be Logged In To Vote00You Must Be Logged In To Vote
5 years 3 months ago
Wakeup Call
Guest
Wakeup Call
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

Lots of talk on BNN today about fear of higher rates as bonds got hammered and utilities continued to slide.
I wonder if extended homeowners are paying attention.

You Must Be Logged In To Vote00You Must Be Logged In To Vote
5 years 3 months ago
Best place on meth
Member
Best place on meth
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

At least something was “up” today.

http://finance.yahoo.com/q?s=^FVX

You Must Be Logged In To Vote00You Must Be Logged In To Vote
5 years 3 months ago
Democrass
Guest
Democrass
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

“I wonder if extended homeowners are paying attention.”

Mark Carney has trained them to ignore concerns about higher rates.

You Must Be Logged In To Vote00You Must Be Logged In To Vote
5 years 3 months ago
Anonymous
Guest
Anonymous
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

@18 Fixed that link.

http://finance.yahoo.com/q?s=%5EFVX

You Must Be Logged In To Vote00You Must Be Logged In To Vote
5 years 3 months ago
Wakeup Call
Guest
Wakeup Call
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

@ memocrass

Got nothing against Carney, but the job doesn’t require much more than merely following the FED and his timing could not have been better. For starters, he was dealt an excellent hand, and the economy performed in his favour. His new job may be a lot more demanding, but he could not have picked a better time to leave the old one.

You Must Be Logged In To Vote00You Must Be Logged In To Vote
5 years 3 months ago
Priced out Renter
Guest
Priced out Renter
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

Troll # 15.
“Price changes are down by 20% from last”
Care to back your numbers up, Thanks.

You Must Be Logged In To Vote00You Must Be Logged In To Vote
5 years 3 months ago
Guy Smiley
Member
Guy Smiley
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

Fact # 17

The lower mainland does not have gangs, it has cliques of legally creative entrepreneurs.

In a related note: More Realtors Behaving Badly

North van realtor Naz Mirhadi was not convicted of kidnapping, she was only “being an intermediary in regard to the money laundering transaction and nothing more.”

My guess is she will be severely reprimanded by the RECBC.

You Must Be Logged In To Vote00You Must Be Logged In To Vote
5 years 3 months ago
An Observer
Guest
An Observer
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

#22 / #15

Trolls numbers are about right, price changes down around 15-20% from same time last year

You Must Be Logged In To Vote00You Must Be Logged In To Vote
5 years 3 months ago
Troll
Guest
Troll
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

@POR

Well you’ve been watching the number of price changes, so I’m sure I don’t need to back my numbers up, lol. But to humour you, May 2013: 134/day. May 2012: 162/day. How’s that canary doing?

You Must Be Logged In To Vote00You Must Be Logged In To Vote
5 years 3 months ago