“@Mortgageslave – Hey uhm…so where is some evidence that I just HATE, HATE Garth Turner? I’m still waiting….” Hey uhm Sorry don’t sit at home reading blogs on the weekend loser. Was on my boat catching prawns before the commercial fishery opens. Got a few spring as well, bowen island is hot! How was that talipia and farmed shrimp that you poor suckers eat! Go reread all your posts for the past for the past year and you’ll find it. You post so much Bullshit, you don’t even know what you’re talking about regardless. Just funny to see I’m in your head again. I don’t even read you responses as they’re voted down. All I know is you, like most of your type are just insecure. You lease a BMW to make you feel good about yourself, then drive to… Read more »

@Ostrich

It’s the end of month, try looking at the beginning of the month maybe. It’s also April, this shit is all seasonal. Especially Kits. Did you check the same time last year? Good case study, sky is falling moron…

“Just for context: Port Hard(l)y has a population of ~4000.”

I know, huh?

We have way more than that just in Chinese fugitives.

New Listings 305
Price Changes 123
Sold Listings 150
TI:13468

http://www.paulboenisch.com

@124

Some interesting listings, like the one in Port Hardy with a 10.3% cap rate.

47 units for $1.75 million, less than the cost of a single teardown house on the west side.

$330K per year gross income, $180K net income.

At least there is still some sanity in other parts of the province.

News from the frontline, released April 27

The Goodman Report, April Newsletter, 2015 http://goodmanreport.com/

“The Greater Vancouver rental apartment market is white-hot, with record breaking prices being achieved throughout Greater Vancouver. If you’ve been keeping up with the incessant headlines highlighting real estate activity, you’d be well aware of the market’s ferocity, both in the residential and commercial sectors. Demand is insatiable and unrelenting…”

Background: The Goodman Report is a respected staple of the multi-family RE scene in Vancouver. And no, such breathless and extreme language does not appear every spring.

In case it hasn’t been posted yet…. 😉 THE VACANT TRUTH ABOUT RENTAL CONDOS http://www.macleans.ca/economy/realestateeconomy/the-vacant-truth-about-rental-condos/ Condo investors who think vacancy rates are ultra-tight will be disappointed Jason Kirby – April 9, 2015 “As Toronto condos go, a cramped unit on the 52nd floor of a newly built downtown tower is as good a place as any to pick apart one of the most oft-repeated real estate stats in Canada’s largest city: the ultra-tight vacancy rate of little more than one per cent. You hear it all the time, on the lips of every condo buyer and regurgitated in real estate reports. It’s one of the reasons a growing number of developers say they’re shifting gears from building condos to building rentals. But like all statistics emanating from Canada’s clubby real estate industry, this one should be taken with a grain… Read more »

Hey is it still Friday? Have we run out of things to say? Entirely possible. I hear market is slowing a tad from last month because there is absolutely nothing worth buying.

Vangirl, and this message is to her, because she likes to think… can you do me a favour? Can you go to craigslist and look for rentals, specifying > Vancouver only >2-beds & 2 baths >Kits. Do you see what I see? There used to be pages of the stuff. Duplicates of course. Last week when I did this. 35 entries. Thirty-five?! Can you believe it? No rental stock either. WTF? Are your mainland friends buying more than just SFHs to leave empty?

Vancouver real estate: 10 reasons why homes sit vacant according to the CoV’s chief housing officer: – Development timing – vacant prior to demolition or following new construction. – Property is in the process of being sold or rented. – Property has been vacated in anticipation of being renovated. – Flipping – bought and sold in a short period of time, with no real possibility of rental. – Domestic investment property – decision pending to rent or leave vacant for a later sale. – International investment property – decision pending to rent or leave vacant for a later sale. – Probate – the owner has died and their estate is being administered. – Hoteling – owner with a long commute buys a property to live in during the work week. – Sabbatical/Snowbirds – because of work, retirement or travel, the… Read more »

didn’t sell.

They took it off the market. Said that the realtor suggested dropping the price by a lot and that they weren’t willing to.

Going to sit on it for a year and either re-list or just rent it out depending on where the markets at.

huh? let’s hope it’s an accepted offer subject to reading the depreciation report. I’m the 1st to admit that depreciation reports are a bit bogus, but if a realtor denied me access to look at one… “The Agent’s Take: Older suites usually offer more space than new condos, but the depreciation report can make it a tougher sell. The listing generated a lot of interest, but initial buyers backed off after reading the report, which outlined upcoming maintenance. Few could see that the work required was several years down the road, it would be based on cost per unit, and it would come down to a vote, Ms. Gillis says. “They didn’t understand the document and were frightened by dollar amounts.” Ms. Gillis decided to not release documents again without an accepted offer.The buyer was a scientist who did his… Read more »

@113

You’re quite right, the hikes could be delayed until later in the summer which would line up perfectly for a bond bust in October.

http://finance.yahoo.com/news/economy-uncertain-no-fed-rate-153058237.html

Wednesday’s announcement might shed some light on the timing.

@ 90, BPOM A FED rate hike in June, followed by another in July sounds a bit optimistic. The FED may opt for more gradual hikes to avoid driving the US$ even higher as the rest of the world is still in stimulation mode and countries that are in deep shit, like Russia and China, keep hording the US$ as a hedge. But be patient, with the US economy on a steady recovery, there is no way in hell they can continue keep rates this low. The mere perception of a hike (remember the taper tantrum a couple of years ago?) will be enough to scare the shit out of the bond market. Who knows, that could even spur another round of pre-approved idiots plunging into this crazy market. When higher int rates inevitably become a certainty, our housing market… Read more »

Here’s Kevin O’Leary’s take on condos;

“”The condo you bought is getting ‘crusty’: Kevin O’Leary”, BNN

https://www.youtube.com/watch?v=nEGi_JczjIY&spfreload=10