More imaginary buyers

For some reason even in a hot market some salespeople feel compelled to make up fake buyers. You might remember the fake sisters posing as buyers for a news story.

Well a North Van Realtor has been found guilty of professional misconduct after a competing offer was presented from a buyer who doesn’t exist.

According to the disciplinary panel’s written reasons, Inglis testified at the hearing that the offer from a buyer with a last name of “Huang” had been left on the kitchen counter on the property –along with a real estate agent’s business card – at an open house, after he’d given a pre-printed offer form to an “Asian person” who asked for it. He told the council he’d altered the form to delete his own name as the buyer’s agent, and added the real estate agent’s name whose card had been left with the offer.

But that real estate agent told the panel he hadn’t been involved in writing the offer and had not had a client named Huang.  The discipline committee also noted Inglis gave a contradictory version of how he’d received the offer in a message he left for his co-listing agent, saying he’d been handed the offer in person. A handwriting expert called to testify said it was “probable” Inglis wrote the offer himself.

The committee concluded Inglis had changed or made up the offer to create the impression that his story about receiving offers on the property was true, then made “false statements” to both his co-listing agent and the real estate council about it.

When Inglis found out about the investigation, he called the co-listing agent and left her a phone message, according to the panel’s written reasons, saying, “So if you really want to get blackballed you’ve gone to the right person because trust me I wield a bigger bat than you do.” The message continued: “So you’re off my books as far as ever doing a deal. I will never, ever, ever process one of your offers ever. So you’re done.”

Read the full article here.

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Hyper-mega-Bull
Member
Hyper-mega-Bull

Burnaby School Board candidate accused of pushing woman with baby

People who were claim the woman was among those questioning Hayes about his support for SOGI 123, which is a resource for teachers regarding inclusiveness for students of all sexual orientations and gender identities.

https://www.citynews1130.com/2018/10/04/burnaby-school-board-meeting-pushing/

Doomcouver
Guest
Doomcouver

Should have asked if her baby was trans before shoving I guess…

oncebittwiceshy
Guest
oncebittwiceshy

Meanwhile, while sales on all fronts drop off a cliff ….

https://twitter.com/SteveSaretsky
“October is expected to be the busiest month for pre-sales in 2018 bringing over 2,000 units to market. An estimated 17 projects are set to launch across Greater Vancouver & Fraser Valley.”

bullwhip29
Guest
bullwhip29

the so called experts who claimed the financial crisis of 2008 was comparable the great depression and that the worst is behind us are about to be proven wrong big time. imho, the last crash was just a warm up act and the big one, which will largely be attributable to the brewing (but inevitable) conflict with china, is just about to rear its ugly head. it will be of epic proportions and may take an entire generation or longer to fully recover from. obviously, many folks who listened to all the financial experts and salespeople peddling various products or services, but never really understood the risk will not make it out of this alive this time around

Hyper-mega-Bull
Member
Hyper-mega-Bull

Mike Pence: “China is meddling in America’s democracy”

https://twitter.com/FoxBusiness/status/1047883912058478592

Oracle
Guest
Oracle

Time for war and mass deportations then.

Best place on meth
Member
Best place on meth

Looks very likely the US is setting up china for an epic military beat down.

I can’t wait to see the entire locust navy smoking and sinking.

Hyper-mega-Bull
Member
Hyper-mega-Bull

The U.S. Pacific Fleet plans a show of military might to deter an increasingly aggressive China
A draft proposal recommends that the Pacific Fleet conduct a series of operations in November that would involve American warships, combat aircraft and troops

https://nationalpost.com/news/world/the-u-s-pacific-fleet-plans-a-show-of-military-might-to-deter-an-increasingly-aggressive-china

Near-collision of US warship and ‘aggressive’ Chinese Destroyer in South China Sea captured in photos

http://www.abc.net.au/news/2018-10-03/south-china-sea-encounter-between-us-warship-and-chinese-vessel/10333096

Doomcouver
Guest
Doomcouver

Makes you wonder what would happen if the cold war with China becomes a hot war. The Americans would lean on Canada really hard to deport a large number of Chinese nationals that’s for sure.

bullwhip29
Guest
bullwhip29

would be incredibly ironic if Stanley Park winds up being used as an internment camp

Doomcouver
Guest
Doomcouver

That’s not ironic, what’d be ironic is if the STAHNLEEEEE PAHK lady got interned there.

bullwhip29
Guest
bullwhip29

Thailand’s famous Maya Bay will be closed indefinitely to allow it to recover from the impact of heavy tourism
https://en.vietnamplus.vn/thailand-closes-maya-bay-to-recover-ecosystem/139412.vnp

>>> pretty soon there will be nowhere left to visit that hasn’t been completely ruined

bullwhip29
Guest
bullwhip29

Canada’s largest real estate board sues listings website Mongohouse for $2.1M
https://www.richmond-news.com/canada-s-largest-real-estate-board-sues-listings-website-mongohouse-for-2-1m-1.23452352

-TREB alleging that the anonymously-run page is illegally accessing, copying and distributing proprietary data
-the claim also names the website’s unknown operators (John and Jane Doe); web server Digital Ocean Canada Inc. and its U.S. based subsidiaries, as well as Sheng Lan Mai who is also known as Maxim Mai, of Richmond Hill, Ont. The board claims that Mai is a software engineer at IBM and “appears to be the original author and creator of Mongohouse.

Bubble
Guest
Bubble

The site has been shut down. TREB is very powerful!

Simple Solution
Member
Simple Solution

so very important that the public be kept in the dark…

bullwhip29
Guest
bullwhip29

Here’s what your landlord can and can’t do with a rental increase in B.C.
https://www.vancourier.com/news/here-s-what-your-landlord-can-and-can-t-do-with-a-rental-increase-in-b-c-1.23452434

bullwhip29
Guest
bullwhip29

Reliance Properties pulls rezoning application for 103-home development In Victoria over public opposition, but plan may be reconsidered after council election
https://www.vancourier.com/real-estate/vancouver-developer-withdraws-victoria-proposal-at-last-minute-1.23452742

southseacompany
Member
southseacompany

“The close: Bond yields surge in U.S. Treasuries sell-off, stocks sink globally”,Globe & Mail

https://www.theglobeandmail.com/investing/markets/inside-the-market/market-news/article-dow-drops-over-300-points-as-north-american-markets-succumb-to-soaring/

“A two-day unloading of U.S. Treasuries pushed their yields to multi-year peaks on Thursday as robust economic data and hawkish speeches by Federal Reserve officials stoked concerns about inflation, and stock markets sank globally.”

southseacompany
Member
southseacompany

“Rising yields test ‘blind faith’ in real estate and dividend investments, a lottery stock that might win, and why the TSX is such a stinker”, Globe & Mail

https://www.theglobeandmail.com/investing/investment-ideas/article-equity-investors-need-to-take-heed-of-rising-bond-yields-a-lottery/

“Global bond yields surged to levels last seen during the Taper Tantrum of 2013 and, thanks to continued strong U.S. economic performance, the 10-year Treasury yield of about 3.2 per cent is the highest since late 2011.”

Oracle
Guest
Oracle

New 2 bdrm basement suites have hit $1700 in Surrey.

Result of Immigration out of control.

Townhomes for rent approaching $2400/month.

MAKE TRUDEAU A DRAMA TEACHER AGAIN!
Guest
MAKE TRUDEAU A DRAMA TEACHER AGAIN!
Laibach
Member
Laibach

Good stuff, but the detached average sales price still has the long way to go down to the levels at 2001 – 2003 where it really belongs (60 – 85% down). Scrape Chinese and money printing combined with low rates in the past 15 years and there you go.

https://204124-615897-raikfcquaxqncofqfm.stackpathdns.com/wp-content/uploads/2018/10/Vancouver-detached-average-sales-price-in-September.png

Best place on meth
Member
Best place on meth

That chart is simultaneously frightening and beautiful.

Anyone who bought detached in the last 3 years must be shitting bricks.

Recent condo buyers will soon be joining them.

Dave
Member

The average doesn’t mean too much, just reflects the product mix. The median or HPI is what matters most and those are down but not as drastically. Bonds yields have been on the move so that’s going to give the downturn some legs. The market won’t feel that for months but it’s coming.

It’s almost a guaranteed that prices keep heading lower to Christmas. If we don’t bounce early in 2019, it’s going to be an ugly year.

Oracle
Guest
Oracle

I don’t see any price reductions in Abbotsford. 3 years ago, you could buy a detached for $400,000 there. Now $800,000.

Wishful thinking or posting erroneous stuff here doesn’t help anyone.

Shut It Down Already (original)
Guest
Shut It Down Already (original)

R2285551 (34840 Mcleod) reduced from $699000 to $659000 on September 14th.

Let me know if you’d like further examples. You’re welcome.

Oracle
Guest
Oracle

That junk ex growip. That was probably $335,000 3 years ago.

Shut It Down Already (original)
Guest
Shut It Down Already (original)

I think they call this “moving the goalposts”. There are plenty of examples.

You’re a joke.

Shut It Down Already (original)
Guest
Shut It Down Already (original)

Average 1 bed Vancouver condo prices are down about 10% in 6 months according to Zolo. Change in sales mix would struggle to explain that.

Oracle
Guest
Oracle

in sept 2015, you could buy a detached in Abby for $425,000. Today $800,000.

So no.

Laibach
Member
Laibach

I guess it is the last moment to buy in Abby or somewhere in Vally, before prices accelerate up again. I think that suburbia will see the biggest price increases and bidding wars due to its competitive affordability. Am I reading you correctly, Oracle?

Nomad
Guest
Nomad

My thoughts. Recent condo buyers are the ones who sold their detached recently. Only they can afford current condo prices. They can probably sit on it another 10 years at least with 100K still left in their accounts. So, recent condo buyers will not be joining them unfortunately.

Oracle
Guest
Oracle

It’s costs at least $400,000 to. Hold a detached homes. A lot in surrey is $900,000. Let’s be realistic where they can drop to.

Oracle
Guest
Oracle

Build*

MAKE TRUDEAU A DRAMA TEACHER AGAIN
Guest
MAKE TRUDEAU A DRAMA TEACHER AGAIN

Didn’t you lie on another thread that it was 100 a sq/ft to build?

MAKE TRUDEAU A DRAMA TEACHER AGAIN
Guest
MAKE TRUDEAU A DRAMA TEACHER AGAIN

A lot is Surrey can realistically drop to $300k

paulb
Member

Last two days…

New
421
Price Change
195
Sold
197
TI:13400

http://www.clivestevepaul.com

bullwhip29
Guest
bullwhip29
Hyper-mega-Bull
Member
Hyper-mega-Bull

we will put in more and more rules that hurt normal ppl in attempts to stop the scammers who will always be one step ahead.

the solution is to not let the scammers into the country in the first place.

southseacompany
Member
southseacompany

“‘There is a shock coming’: why markets should brace for trouble”, Sydney Morning Herald

https://www.smh.com.au/business/markets/there-is-a-shock-coming-why-the-world-should-brace-for-trouble-20181005-p507we.html

“FITCH Ratings has warned that global bond markets face a rude shock as the US Federal Reserve jams on the brakes to avert overheating, with grave implications for inflated asset prices across the world.”

“Brian Coulton, the agency’s chief economist, said investors have underestimated the Fed’s determination to drain excess liquidity and prevent the inflation genie escaping from the bottle.”

“Mr Coulton warned of a “giant sucking sound” as the G4 central banks switch rapidly from quantitative easing to quantitative tightening.”

Confucius
Guest
Confucius

Christmas level sales with summer level inventory. Just a flesh wound?

bullwhip29
Guest
bullwhip29

A North Vancouver woman who’s been repeatedly ordered to shut down an illegal hostel in her townhouse is being taken back to court by her strata, this time for contempt of court
https://www.cbc.ca/news/canada/british-columbia/illegal-hostel-battle-escalates-as-strata-says-defiant-owner-is-in-contempt-of-court-1.4851607

“Nothing’s going on. I’m just living my life,”

“They are not going to get a fine from me.”

“I didn’t break the strata rules because I started these before the strata [had] changed their rental bylaw,”

“They can accuse me of anything. They basically have nothing better to do.”

DaMann
Member
DaMann

How is this C U Next Tuesday is operating with impunity and flouting the law. God we are such idiots and let everyone come here and push us around. Canada, a nation full of pussies

Best place on meth
Member
Best place on meth

Cut her fins off and throw her in the ocean.

bullwhip29
Guest
bullwhip29
YVR
Guest
YVR

Next up Eby.

YVR
Guest
YVR

This casino money laundering probe is getting more hilarious by day. Next we will here Eby has hired top realtors to probe the real estate money laundering.

“B.C. casino review contractor previously consulted for River Rock Casino”

An anti-money laundering expert hired for B.C.’s “arms-length” probe into casino money laundering was previously hired to work for Great Canadian Gaming, the company at the centre of the probe..The report, which was triggered by an audit of concerns at Great Canadian’s River Rock Casino in Richmond, said that B.C. casinos “unwittingly” became laundromats for organized crime..

https://globalnews.ca/news/4508431/exclusive-b-c-casino-review-contractor-previously-consulted-for-river-rock-casino/

Oracle
Guest
Oracle

All corrupt. That’s why they’ve been dragging their feet. Wonder who is taking in the most money now.

Laibach
Member
Laibach
SilentBob
Guest
SilentBob

It never ceases to amaze me that foreign governments, whether it be Winnie the Pooh and his clamp-down on capital outflows or the big orange deal machine forcing our government’s hand, seem to do more to protect Canadians than our own elected officials. Food for thought.

Geeze
Guest
Geeze

I don’t understand Trudeau’s obsession with China. My wife and I are both Chinese and we both can’t stand China and a lot of the annoying stuff they do to make the rest of us look bad. We can’t stand the materialistic money chasing culture. We can’t stand how they bully others around. We can’t stand Trudeau and how he thinks that by cozying up to China he’s got the Chinese vote. Most Chinese I know including my parents hate him for the refugee thing and for cuddling up to China. Either he’s so stupid and ignorant or he’s really dangerous to this country.

Dave
Member

I think many in Ottawa see it as a counterbalance to the US. Canada has such a small economy that we have very little clout over the US. If we work with the Chinese, it gives us more power. For example, if we have trouble with lumber or oil, China can provide the market we need.

DaMann
Member
DaMann
Dave, love your posts and you have been pretty solid on predictions but I am constantly dumb founded as to why anyone would want to cozy up with the Chinese. I don’t care if we did 100% trade with the USA, I would take that over doing business with China. News story I just read about how the Australian government has denied Huawei any involvement in their 5G infrastructure due to security concerns. the concerns being “spy devices have been found in Chinese manufactured computers and telephones …….. a little chip the size of a rice kernal.” This is a COMMUNIST country. Any Chinese company is at the mercy of the Chinese Government. people go missing as they see fit. I don’t want that country anywhere near us. China is laughing because they know anyone in the west will forgo… Read more »
Oracle
Guest
Oracle

Sociopaths and psychopaths rule us. That’s why we must get out country back.

Raincity
Member
Raincity

Our Exports to China are negligible, and will never be as high as our Exports to the US

C.Junta
Member
C.Junta

I must say, a lot of immigrants share your sentiments. Many of them decided to come to Canada because they were sick and tired of dealing with those “cultural particularities” on daily basis in their home countries (and China is not the only example). Now, when they see same things happening here, they get really frustrated. So, those politicians who are trying to sell their multiculturalist agenda to the immigrants may have chosen the wrong audience.

Oracle
Guest
Oracle

Bingo.

MAKE TRUDEAU A DRAMA TEACHER AGAIN
Guest
MAKE TRUDEAU A DRAMA TEACHER AGAIN

Do you mind telling us when your family immigrated to Canada?

MAKE TRUDEAU A DRAMA TEACHER AGAIN
Guest
MAKE TRUDEAU A DRAMA TEACHER AGAIN

His obsession was born of his Father. He is simply following in Trudeau Sr’s footsteps.

Best place on meth
Member
Best place on meth
Oracle
Guest
Oracle

Canadians too dumbed down. They are paralyzed to fight.

Immigration must be cut drastically or else Canada lost within a decade.

Simple Solution
Member
Simple Solution

Canada already lost… no way we can undo the damage done by the Chinese invasion…. All you need to do is go out to Richmond and see for yourself

Simple Solution
Member
Simple Solution

Thank God….

MAKE TRUDEAU A DRAMA TEACHER AGAIN
Guest
MAKE TRUDEAU A DRAMA TEACHER AGAIN

Like a child Trudeau needed to be saved from himself.

Geeze
Guest
Geeze

US 10 year treasury yield just hit 3.24%. Markets tanking. Real estate soon to tank. Inventory not going up because people holding up for a spring market bounce but just wait. Things are only gonna get worse. Unless all of our new immigrants have bags of cash waiting to buy houses and condos.

Oracle
Guest
Oracle

I’ll believe it when I see it. Don’t count your chickens before the eggs hatch. Haven’t you seen this story before?

People continue to pour into this country. That’s why rents exploding. Prices only affected at high end because speculators.

At low end demand simply too high. .

Geeze
Guest
Geeze

Immigrants still need loans to buy. The easy money is gone. In 2008-09 there was plenty room to move rates down. Now rates aren’t going down. Not with the US economy doing well and rates moving up. West side down 20-30% already so immigrant money is clearly gone. This is just the beginning.

Oracle
Guest
Oracle

They push up rents thereby inflating prices on the low end.

MAKE TRUDEAU A DRAMA TEACHER AGAIN
Guest
MAKE TRUDEAU A DRAMA TEACHER AGAIN

Markets tanking? Which Markets?

Hyper-mega-Bull
Member
Hyper-mega-Bull

Interpol chief missing: French police launch investigation into President Meng Hongwei’s disappearance

Meng Hongwei, 64, has not been heard from since travelling to China in late September

https://www.independent.co.uk/news/world/europe/interpol-chief-missing-france-police-meng-hongwei-where-president-lyon-latest-a8569876.html

Simple Solution
Member
Simple Solution

Probably just getting debriefed by the motherland….

Canada is for Canadians
Guest
Canada is for Canadians

They are installing a chip inside his head.

paulb
Member

New
193
Price Change
80
Sold
88
TI:13425

http://www.clivestevepaul.com

kabloona
Member
kabloona

Lucky 88!!!!

😛

BubbleTea
Guest
BubbleTea

Not if you are selling.

Best place on meth
Member
Best place on meth

East side!

1103 27TH AVE E, assessed 1.583. listed 1.588, sold 1.350

1225 63RD AVE E, 1.331, 1.320, 612K (Court Date September 21st Vancouver Courts 10:30 AM **subject to court approval*)

2776 25TH AVE E, 1.316, 1.298, 1.160

1951 3RD AVE E, 1.614, 1.450, 1.395

1132 NOOTKA ST, 1.277, 1.199, 1.075

736 55 AVE E, 1.683, 1.695, 1.515

1508 60TH AVE E, 1.587, 1.498, 1.422

2047 33RD AVE E, 1.257, 980K, 1.030

MAKE TRUDEAU A DRAMA TEACHER AGAIN
Guest
MAKE TRUDEAU A DRAMA TEACHER AGAIN

I thought only prices at the very high end are being affected?

Balanced Arguments
Guest
Balanced Arguments

Crazy what losing ~20% of your buying power on Jan 1 will do to prices…

Shut It Down Already (original)
Guest
Shut It Down Already (original)

B20 plus rising rates is the killer.

The fools will claim it’s the FBT being increased from 15 to 20%, though. Alternatively they’ll bullshit something about capital controls.

MAKE TRUDEAU A DRAMA TEACHER AGAIN
Guest
MAKE TRUDEAU A DRAMA TEACHER AGAIN

Oracle?

Bag it and tag it
Member
Bag it and tag it

Oracles sources indicate that there was a cash exchange involved.

Best place on meth
Member
Best place on meth

West side!

1908 33RD AVE W, assessed 3.197, listed 2.898k sold 2.680

3180 19TH AVE W, 3.896, 3.368k, 3.250

3415 19TH AVE W, 3.041, 2.599, 2.538

M-
Member

Here’s an interesting one from Richmond… Developer took a huge loss on a new house.

9468 GENERAL CURRIE ROAD
Listed @ $1.998 “includes GST”
Sold @ $ 1.790 (who knows if this includes GST or not).
Previous sale: April 2016, $1.678, with a 1970s Vancouver Special.

The developer bought the old house, paid PPT, and built a brand-new 2700 sq.ft house. And they only managed to sell the new house for $112K more than they paid for it. Subtract PPT paid at purchase time, closing costs, realtor fees, property taxes, construction loan interest, etc, and this developer ended up probably $500K in the red on this property.

Oracle
Guest
Oracle

Cash exchange.