Battlemap: My God, it’s full of blue.

VMD has updated his Vancouver Real Estate Battle Map.

Here’s the May 2013 SFH edition:

Now that tax season and vacations are over and done with, we head back to the Battlefield!

– Fraser River turned crimson with Bovine blood as the REBGV Bulls failed to defend their Last Stand in Coquitlam. The Bear Army pressed forward and took control of North Surrey for the first time in this War.

– The Bears diverted their main attack forces in Van West & Richmond to solidify control of outskirts such as West Van, Burnaby, Ladner, Poco & Tsawwassen.

– The following Bull Territories are facing imminent defeat: Surrey.

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pregnancy check
7 years ago

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Amen
Amen
7 years ago

Ha! Anybody else appreciate this?
““Once consumers start seeing such incentive programs, they come to expect them,” says Pavlov. “And they anticipate bigger incentives in the future, further reducing the current demand.”
http://www.newwestnewsleader.com/business/210331371.html
Ah, life and it’s delicious ironies! I also love that he is a professor of real estate! LOL!

Self Catering Knysna
7 years ago

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betamax
betamax
7 years ago

“My God, it’s full of Blue!”

Love the Space Odyssey 2001 reference. Classic.

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Democrass
Democrass
7 years ago

“I paid no land transfer tax”

If you paid no property transfer tax, your place cost $425,000. It is a condo. Condos are still at 2006 prices. Bad decision.

VHB
VHB
7 years ago

(That was me of course. Didn’t notice I was logged out.)

Anonymous
Anonymous
7 years ago

Total days 20
Days elapsed so far 4
Weekends / holidays 2
Days missing 0
Days remaining 16
7 Calendar Day Moving Average: Sales 143
7 Calendar Day Moving Average: Listings 266
SALES
Sales so far 588
Projection for rest of month (using 7day MA) 2294
Projected month end total 2882
NEW LISTINGS
Listings so far 1142
Projection for rest of month (using 7day MA) 4250
Projected month end total 5392
Sell-list so far 51.5%
Projected month-end sell-list 53.5%
MONTHS OF INVENTORY
Inventory as of June 6, 2013 18123
Current MoI at this sales pace 6.29

Anonymous
Anonymous
7 years ago

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

JSON
JSON
7 years ago

Whats all this Bullshit transactions costs Bears talk about,

As a first time buyer,

I paid no land transfer tax
I paid $1000 in Commissions to the listing realtor (ever hear about negotiation??)
I paid about $1000 to the Lawyer.

Total = $2000.

CONGRATULATIONS! You somehow managed to make money without the transactional costs of selling!

Wait.. You did sell didn’t you? Otherwise you didn’t make any money…

Anonymous
Anonymous
7 years ago

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.

Anonymous
Anonymous
7 years ago

Whats all this Bullshit transactions costs Bears talk about,

As a first time buyer,

I paid no land transfer tax
I paid $1000 in Commissions to the listing realtor (ever hear about negotiation??)
I paid about $1000 to the Lawyer.

Total = $2000.

Please dont make it sound like it costs 5-7% of purchase price. If thats what you would pay, i feel sorry for you.

SON
SON
7 years ago

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?

chilled
chilled
7 years ago

RFM Says:
June 6th, 2013 at 6:38 pm 53

and the new realtor is……………Rennie Marketing Systems…………..

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

We are about to witness first hand that Bob Rennie is about as useful as tits on a bull when ‘shooting fish in a barrel’ is no longer his industries norm. Maybe with his millions he’ll start a retraining program for Realturds?? The “Rennie School – where we now focus on ‘earning’ money instead of ‘making’ money.”

Googley
Googley
7 years ago

Soros

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

chilled
chilled
7 years ago

Best place on meth Says:
June 6th, 2013 at 6:23 pm 51

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

Residential land in the shittiest parts of East Van is “valued” at $5 million an acre.

The farmland is a bargain.

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

Ironically, both areas emit a similar odor.

Waiting to exhale
Waiting to exhale
7 years ago

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 »

George Soros
George Soros
7 years ago

How long do prices have to go down before the Bulls are right? So many people on this blog are living in 2005. Ya we all agree it was a great time to buy a SFH. That was 8 FUCKING years ago.

What has the market done in the last 3?

George Soros
George Soros
7 years ago

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?

@data junkie
@data junkie
7 years ago

I don’t own a house, but that isn’t going to stop me from pointing out how wrong all of you have been, and likely will continue to be.

World doesn’t work the way you think it does. Will we have to hit the decade point till u realize that? 🙂

RFM
RFM
7 years ago

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 »

Goldmember
Goldmember
7 years ago

#49 “Prices of land still going up regardless…”

Farm land crashed by half after the last commodity peak in 1981. Why would this time be much different?
http://www.webe.com.au/files/webe/media/16MarTUE4.jpg

Best place on meth
Best place on meth
7 years ago

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

Residential land in the shittiest parts of East Van is “valued” at $5 million an acre.

The farmland is a bargain.

sorel
sorel
7 years ago

http://patrick.net/housing/crash2.html Eight groups who lie about the housing market 1. Buyer’s agents lie, because they get nothing if there is no sale. 2. Mortgage brokers lie, because they take a percentage of the loan. 3. Government agencies like CHMC, Fannie, Freddie, and the FHA lie… 4. Banks lie, at least when they can get origination fees and then sell the mortgage. 5. Appraisers lie, because they are paid by mortgage brokers and banks. 6. Newspapers lie, because they earn money from advertising placed by real estate agents, lenders, and mortgage brokers.. 7. The Federal Government lie, because everyone in the House or Congress gets bribes (oops — I meant campaign donations).. 8. Current owners lie, because they do not want to believe they are going to lose huge amounts of money. LIARS, LIARS, LIARS!!! LAYOFFS and DISCIPLINARY HEARINGS … we… Read more »

Anonymous
Anonymous
7 years ago

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 …