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I paid $1000 in Commissions to the listing realtor (ever hear about negotiation??)
I paid about $1000 to the Lawyer.

Very shrewd. The listing realtor is paid by the seller which means you gave him a $1000 bonus! Also the going rate for a lawyer to do a real estate transaction is $500. You gave your lawyer an extra $500. I would love to hear how much you paid for the place. Did you give the seller a 100K bonus?

fool – money – parted

Post 55 George Soros said:

Again – Nobody has made any money for 3 years on most houses and 5 years on condo’s.

What is all this talk about being wrong for 8 years?

WRONG. North Delta prices are up $150,000 for detached homes in the last 2.5 years.

2006 you say? Pray tell, how much have you made on your condo investment. Did you buy in June 2006? Wow! That was 7 long years ago, you were definitely correct if you said then that prices would go up. So why not brag a little? Tell us what you paid and how much you’d make if you sold today.

Please don’t forget to include down payment opportunity cost, maintenance and transaction costs in your calculation.

Oh, and just for comparison, how much would you have made on a few stocks in that time and what are the transaction costs there?

@George Soros

this blog started in 2006. VHB’s blog before that. that’s why people laugh at them.

I have been contacted by two of my realtor friends in the past week both proclaiming that the market is turning and that this is a good time to buy. One of them even mentioned that interest rates will be rising this Friday. When they tell me this I argue that they should look at the ten year average. Sales are still around 20% lower than the ten year average and this is with major banks advertising mortgate rates under 3%. If you compare stats between spring 2012 and 2013 it is like comparing chicken manure and cow manure. Yes cow maure is better than chicken manure but it is still manure. One of them had the audacity to say: “You better get in now I bet you five years from now people will say that Spring 2013 was the… Read more »

Again – Nobody has made any money for 3 years on most houses and 5 years on condo’s.

What is all this talk about being wrong for 8 years?

So many unsold new houses……..somebody’s gonna get hurt! Here is a trend I am seeing: I ride my bicycle around here and there every week with a friend; we noodle along, looking at all the new houses under construction where they paid $1.2M to $2.3M for the old ‘wreck.’ We have now identified dozens of these construction sites where the new house under construction has not seen any activity for anywhere from a month to several months. Not a thing. No workers, no construction supplies delivered, no weeds mowed, nothing. Dozens. Something is happening and yet I have not read a single report about a slowdown in construction. Next, the Private Residences at the Hotel Georgia: I walked around the building 2 weeks ago, viewing it from several blocks away and counting the empty apartments. 156 apartments. I guesstimate that… Read more »

Prices of land still going up regardless of what group think goes on here.

Farmland prices between Abbotsford and Chilliwack have now touched $100,000 per acre.

And NO, sigh, CMHC wasn’t involved here. No zero down 40 year Amortizations. These prices went up all by themselves.

Do you understand bear? probably not …