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FFFA! Mortgage Rates, Sales, Averages

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177 Comments

It’s that time of the week!

Friday Free-for-all Time!

This is when we do our regular end of the week news round up and open topic discussion thread for the weekend, here are a few recent links to kick off the chat:

–YOY prices drop for the 12th month
–BC home sales hot in July
–Strata depreciation reports
–Mortgage rates up
–VCI Cliche hunt
–Markets face ‘major slowdown’
–Ottawa in mortgage mess of own making
–Condo price drop in action

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

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Bears of future past

then:

jesse Says:
August 18th, 2013 at 11:21 pm 118
When was it ever about what residents want? Density is coming, the prices have been signalling that for decades.

and now:

jesse Says:
August 22nd, 2013 at 7:21 pm 140
“future density is priced in”
wrong.

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snake

anybody have use this site and it works ?

http://iverify.com/index.php

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snake

@ paulb

Two sold property how much those went for ?

1)401B – 3680 RAE AVE Vancouver – V1011905

2)2 – 862 EAST BROADWAY Vancouver – V979484

Thanks in advance

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snake

@ paulb

Thanks for the info. I loved the kitchen and the balcony too. my friend put a offer for $325000 looks like somebody beats him to it.

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patriotz

“Is previous sold price for a property a public knowledge in Canada?”

All information on the title is public domain.

“I know in Canada you cannot get the info until you hook up with a realtor.”

Wrong, you can get the whole title from BC Online for $20 or so.

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Son of Ponzi

China one,
Hangseng index is dropping another 400 points as we speak.
HongKong and China is running on empty soon.

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N

>>Here is the link to the yield of the last 5 years.

http://www.marketwatch.com/investing/bond/tmbmkca-05y?countryCode=bx

This doesn’t lie.<<

So what you are saying is that while yields have been going down, RE prices have been going up. And now that yields are going up, what do you predict will happen to RE prices?

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Aggregator

@ChinaOne

Maybe China Post should get their numbers straight because Milton’s average price was not $500,000 last month, nor was it ever. http://i.cubeupload.com/m3uAAD.png (July)

Milton Average Price
Q2 2012 $463,533
Q2 2013 $471,420 +1.7%

The CNY/CAD asset trade is a losing investment. Chinese households don’t get it yet.

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Son of Ponzi

My sista cousin buy three, my other sista cousin thrice removed buy four.

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ChinaOne

Fellow Number 166 is answer

market going to “COAST” along or market going to “CLIMB”?

That why we going to buy. We covet vancouver.

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ChinaOne

My cousin buy 2 houses soon. My other cousin buy three.

This is is newspaper in China. South China Post. They will buy soon.

http://www.scmp.com/comment/insight-opinion/article/1297937/canadian-home-prices-frustrating-hongkongers-waiting-buy

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It's simple

Bears don’t get angry they are intellectual and know what is about to happen soon. I’ll give you dumb bull’s 2 clues 1 starts with c 2 it has 5 letters but if you can’t figure it out you are more stupid than I thought.

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Anonymous1

For those bears getting worked up about the 5 year Bond yield hitting 2% today: That was the percent it was at through the 2008-2009 emergency time….2%.

Here is the link to the yield of the last 5 years.

http://www.marketwatch.com/investing/bond/tmbmkca-05y?countryCode=bx

This doesn’t lie. I can hear you bears getting angry..

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paulb

@ snake: 328,500. Nice kitchen!

VCI: for any real estate questions big or small feel free to email mail or text me (604-908-2685)for a quick reply. Just say you are from VCI.

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snake

Anyone know how much this property sold for it was on the market for $336000 ?

http://uptownvancouver.com/v1013304-105-330-e-7th-av

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canada man

Good job carboy .Make sure you go to furniture store and buy all new furniture and on your way home stop at travel agency to book holiday in Vegas.You’re a homeowner now ,don’t worry about payment’s Government will look after you.Might as well get a new car also. Canada man salute’s you.

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paulb

New Listings 218
Price Changes 116
Sold Listings 157
TI:17434

http://www.paulboenisch.com

Simple, V992693 didn’t sell. It was pulled off the market.

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Simple

Can someone with access please tell me what V992693 sold for?

Thanks.

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vangrl

“Here’s what happened today:
Emera down 3.17%
Atco down 3.07%
Canadian Utilities down a whopping 3.62%…in ONE DAY!”

ya that was one crap day on the markets:(

still up like crazy since I sold my condo 3 years ago and plowed it all into the market though:) don’t think I would have had that kind of appreciation on my condo, that’s for sure.

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mosesupposes

@152 Is previous sold price for a property a public knowledge in Canada?

In B.C. it’s a pain in the bitt but you can access that information at the applicable LTO office (which for Vancouver is located in New Westminster I believe).

If you have a lawyer or banker friend they can probably get the info fairly easily as they likely have licenses for the the LTO’s online service (there may be a $10 or so charge).

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franko

Even more telling than increases in recent bond yields is the continued dumping of not only bonds but preferred shares and interest sensitive stocks like utilities.

Here’s what happened today:
Emera down 3.17%
Atco down 3.07%
Canadian Utilities down a whopping 3.62%…in ONE DAY!

Mr. Market is telling us that it will be a miracle if rates only double from their lows of the last couple of years. With affordability already stretched to the limit there’s only one way for prices to go when pre-approvals have been exhausted.

Patience baby, patience.

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crikey

@VMD #90 In a decidedly buyer’s market which worsens day by day, Mr. Carboy… “decisively purchased his house at lightening speed” (after the house had sat without offers for months) “decisively raised his offer by $20,000” decisively agreed to the seller’s $5000 higher counter-offer “decisively” bought-out his leased BMW. (spending $43,000 buying out the car, whose current market value is $30,000) Mr Carboy… “will achieve great things in life for being decisive”. Nobody can deny that Mr. Carboy is a decisive person. I am reminded of lemmings, that are also very decisive as they walk right off a cliff. Both Mr. Carboy and lemmings are very decisive. Bravo! Though it is a shame that both are so busy being quickly decisive that neither can spare the time to be logical. Oops! And yes, it is true: Mr. Carboy has already… Read more »

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jesse

“So Jesse must agree with me that there there never was a bubble”

Nope. I think expected density increases partially contribute to above-inflation gains for land prices. With condos, especially those at higher price points, yields are very low and there isn’t much more density to be wrought there without a significant capital injection.

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jesse

Frances Bula on foreign investment
http://www.vanmag.com/News_and_Features/Running_on_Empty
Citing Andy Yan and a few others.

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Softy

“A $1.6Million 50′ lot, speculation aside, means one of two things: offshore business owners, doctors and lawyers are buying up Marpole left, right, and centre, or someone’s forecasting some future “densification”.”

So Jesse must agree with me that there there never was a bubble. Densification is happening in every municipality. That’s why land prices are so high.

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