Sellers Remorse lawsuit fails

Someone sold their condo to a Realtor who turned around and sold it for $288k more a few months later. A lawsuit followed:

She sold the unit on West 12th Avenue near Manitoba Street for $1.2 million to Stefan Morissette and Christina McPherson in October of 2015.

Gordon sued them and Faith Wilson Realty after learning the condo was re-sold approximately four months later for $288,000 more than what she was paid for it.

In a summary decision, the Justice G.C. Weatherill has determined the retired accountant didn’t suffer a loss when she agreed to sell the condo — for fair market value — to the buyers who placed the highest bid, even though she was hoping to get at least $1.3 million.

Read the full article here.

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patriotz
Member

The property, #2-127 12TH AVE W, is actually one unit of a strata duplex. Legally that’s a “condo” but describing it as such gives the impression it’s an apartment. I thought the price was a bit high for that.

https://www.bcassessment.ca/Property/Info/RDAwMDA1QlE4Rw==

kabloona
Member
kabloona

$1.2 million for a condo…? What is this, Manhattan….????

Madness…..

😉

Oracle
Guest
Oracle

Apparently people with lots of $$$ are paying these prices. So market must be on to something the last 20 years.

The unknowns now (scenarios):

1) PR fails. Election called by Greens.

2) PR passes. Election called by Greens on LNG. 2A) Minority Gov propped up by the Greens. 2B) Lib majority. 2C) NDP Majority (unlikely).

thats bullish on housing. And plus we are near the top of the Rate cycle.

Dave
Member

Scenario 2A is most likely. I think people are dumb enough to vote for PR and Weaver won’t take the government down over anything because it’s his path to greater power. No chance Greens call an election if PR passes. Literally zero. I put the odds of this scenario at 70%

Scenario 1 is second most likely and I think the NDP would win a majority. The LNG announcement will be good to Horgan and he can pre-empty the housing crash coming Spring 2019. I put the odds of this at 20%.

Liberal majority is 5% IMO.

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

Top of the rate cycle?

Another uneducated comment by a fool.

Rates have barely begun moving.

Hyper-mega-Bull
Member
Hyper-mega-Bull

we are at manhattan 30 years ago

😉

southseacompany
Member
southseacompany

Yep, it’s just like Manhattan

“NYC has moved into a buyer’s market, and is experiencing a housing trend last seen in 2009”
https://www.cnbc.com/2018/09/30/nyc-real-estate-becomes-a-buyers-market-as-homes-take-longer-to-sell.html

Hyper-mega-Bull
Member
Hyper-mega-Bull

Trump implores world leaders at United Nations to confront ‘scourge’ of drug addiction

https://www.usatoday.com/story/news/politics/2018/09/24/donald-trump-united-nations-must-confront-confront-scourge-drugs/1408197002/

@realDonaldTrump
It is outrageous that Poisonous Synthetic Heroin Fentanyl comes pouring into the U.S. Postal System from China. We can, and must, END THIS NOW! The Senate should pass the STOP ACT – and firmly STOP this poison from killing our children and destroying our country. No more delay!

https://twitter.com/realDonaldTrump/status/1031590431379865600

bullwhip29
Guest
bullwhip29

i think it is rather amusing how often accountants (and doctors) get fleeced when doing financial transactions.

bullwhip29
Guest
bullwhip29

With its new trade deal, Canada surrenders sovereignty to a bully
https://www.cbc.ca/news/opinion/canada-usmca-1.4845494

“…if Canada wants a trade deal with China, it has to notify the Americans about any negotiations, and tell them the substance of those negotiations, and submit the text of any deal, including any annexes and side instruments in advance…”

“…if the Americans don’t like the deal…Canada will be summarily excluded from the new version of NAFTA…”

Laibach
Member
Laibach

It goes both ways, right? So if the US want’s a trade deal with Saudi Arabia and if Canadians don’t like the deal…

kabloona
Member
kabloona

More nonsense from grumpy Neil MacDonald…..

Neil ignores the fact that the Chinese demonstrated zero interest in a bilateral trade deal with Canada – besides, as far as I can tell, all they buy from us is fungible natural resources like oil, copper, etc….in return they ship us junk for our Dollar Stores or Walmart.

And we already have WTO rules for that kind of trade with China.

If the Chinese see anything high-tech and expensive from Canada, they just copy it, steal the Intellectual Property rights, and then come out with their own cheap reverse-engineered copy – kinda like what Huawei did with Nortel networking gear….

The Chinese are always welcome to apply for admission to the TPP if they like….

😉

Dave
Member

I like having the US involved in China trade because I don’t trust our politicians or our system. Just look at our housing situation. Our government is incompetent top down. I don’t want more of that thanks.

Best place on meth
Member
Best place on meth

We shouldn’t be making any trade deal with those scumbags.

We should be doing business with them, period.

bullwhip29
Guest
bullwhip29

A key executive who once oversaw the casino labelled as the epicenter of money laundering in the province’s gaming industry now has an appointment that’s raising concerns from a government watchdog: he’s the chair of the Justice Institute of B.C.
https://bc.ctvnews.ca/former-casino-executive-shouldn-t-be-chairing-justice-institute-watchdog-1.4116964

bullwhip29
Guest
bullwhip29

Richmond RCMP said officers responded to a single-vehicle collision damaging a gas line just before 6 p.m Sunday evening which resulted in the evacuation of 20 residents in the 8000 block of Garden City Road near Blundell Road
https://www.richmond-news.com/news/homes-evacuated-after-collision-damages-gas-line-1.23448418

bullwhip29
Guest
bullwhip29

North Vancouver strata seeks contempt of court ruling against townhouse-turned-hostel owner
https://globalnews.ca/news/4506085/north-vancouver-strata-seeks-contempt-of-court-ruling-against-townhouse-turned-hostel-owner/

>>> my goodness…what an unbelievable pain in the a$$ this wretched hag turned out to be…send her back on the next flight out. I’ll pick up the tab too…

Laibach
Member
Laibach

After sending her back over it should be investigated how even such shit comes over. Is immigration department checking references, how do they filter garbage out?

Canada is for Canadians
Guest
Canada is for Canadians

China should stop dumping their shit into the ocean. It floats over to here.

Best place on meth
Member
Best place on meth

“She promises to comply, then doesn’t,” neighbour Dan Golberg said. “Her pattern of behaviour is exactly why that is a possible outcome and potentially an appropriate one.”

This pattern of behaviour is native to her shithole of origin.

It’s a cultural trait taught from birth.

paulb
Member

New
278
Price Change
161
Sold
109
TI:13361

http://www.clivestevepaul.com

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

Not many expired listings. Peak still ahead?

Dave
Member

I have a feeling tomorrow is going to give us a lot of listings.

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

Antidotally I know of 2 people who are listing their places in the next week. I only mention it because its an odd time to list and they both mentioned that they heard the market was “changing”.

yvr2zrh
Member

Looking back, October has never had higher month-end inventory than September. Also, October has always had higher sales than September. Also, September 2018 had the lowest possible business days for the month, while October will have the highest number for an October month. Thus, October will appear better than September.

Ultimately, if October appears worse than September, then we know there is a serious market disruption about to occur.
Predictions for October – Sales ~2,000, Month-end Inventory ~12,800.

patriotz
Member

“Antidotally I know of 2 people who are listing their places in the next week.”

Do you mean their personal residences? If so, what are they going to do – buy something else, rent, or move?

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

Both were investment properites. Condo’s, one in Van the other Coquitlam. Both held for more than 10 years.

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

Quebec Nationalist party seeking major curbs on immigration wins power.

Nail 34 in the coffin of Vancouver RE

YVR
Guest
YVR

Yup, first Doug Ford in Ontario, now CAQ in Quebec. The Trudeau Liberal Party’s politically correct welcome has run out in Canada.

The CAQ, which promises to lower taxes, privatize some aspects of the health-care system and cut the number of immigrants, capitalized on an appetite for change among Quebec voters…
The CAQ had 38 per cent of the popular vote compared to 24.4 per cent for the Liberals, a historic low…
Since Confederation, the Liberals have always obtained at least 30 per cent of the vote.

Thanks Trump! Not only did you take Trudeau’s lunch money but you put the final nail in the Federal Liberal party’s coffin.

YVR
Guest
YVR
Dave
Member

Alberta headed right next. And they’ll be going hard against Trudeau. Lucky for him, the Federal election is just after.

Laibach
Member
Laibach

Certainly, our stallion and his buddies need some control over dangerous stuff.

Astonishing’ clause in new deal suggests Trump wants leverage over Canada-China trade talks: experts

https://nationalpost.com/news/politics/astonishing-clause-in-new-deal-suggests-trump-wants-leverage-over-canada-china-trade-talks-experts

YVR
Guest
YVR

Trump knows China will try to use China loving Trudeau as a back door to the US market. Ain’t going to happen.

Best place on meth
Member
Best place on meth

Thank god someone is protecting us from those vermin.

Our PM would let them take over our country in a heartbeat.

Oracle
Guest
Oracle

Take that SIDA!!! Canada on a leash now. Until we can toss out this sob globalist Trudeau for selling our country out.

YVR
Guest
YVR

Trudeau’s claim of victory in trade deal is hollow – Canada was played

Donald Trump used what he called “the power of tariffs” to bully his trading partners into capitulation. He made clear his intent to pull investment back into the U.S. and, despite his eccentricities, has managed to do exactly that.

https://nationalpost.com/news/politics/john-ivison-trudeaus-claim-of-victory-in-trade-deal-is-hollow-canada-was-played

Best place on meth
Member
Best place on meth

All three countries win, because china becomes further marginalized.

This is another piece of Trump’s master plan, to destroy that nasty, evil country.

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

What happened to 2.99% 5 yr. never again? He should come back…

“We already saw a surge in the five-year Government of Canada bond yield on Monday to a seven-year high of 2.426 per cent. This puts direct pressure on five-year fixed-mortgage rates.”

Best place on meth
Member
Best place on meth

He called himself “2.79% never again”.

At least that’s how I remember it, but then again it was 36 years ago.

southseacompany
Member
southseacompany

“Pace of interest rate hikes seen picking up with trade deal in hand”, Financial Post

https://business.financialpost.com/investing/nafta-update-will-test-polozs-caution-on-canadian-rate-hikes

“The new North American trade deal struck on Sunday may open the door for the Bank of Canada to pick up the pace of interest rates hikes, according to economists at some of the country’s biggest banks.”

southseacompany
Member
southseacompany

“Reality check: The era of interest rates at 5000-year lows is ending”, Sydney Morning Herald
https://www.smh.com.au/money/borrowing/reality-check-the-era-of-interest-rates-at-5000-year-lows-is-ending-20181001-p5072n.html

“Have you ever had one of those moments when you’re caught up in something that seems perfectly normal only to have a sudden realisation that it’s actually quite unnatural and abnormal?”

“Last week the world economy was given one of those moments of reality check. For the first time in 10 years, America’s central bank stopped handing out free money.”

“…and in the immortal words of Warren Buffett: “It’s only when the tide goes out that you can see who’s been swimming naked.””

Doomcouver
Guest
Doomcouver

5000-year lows on interest rates seems to have produced the largest global housing bubble in 5000 years of human history. I’m starting to think we may be facing a 2-decade recession on the other side of this. It will be historic and wholly terrible for many people who get to live through it.

Oracle
Guest
Oracle

You are such a troll. No way you can possibly believe what you write.

Laibach
Member
Laibach

Why do you think that Doomcouver is wrong? It sounds quite logical.

Oracle
Guest
Oracle

Seriously? His writing is basically mocking you guys.

Doomcouver
Guest
Doomcouver

So historically significant interest rate lows won’t produce historically significant asset bubbles? Please Oracle explain to me why this is the case. Enlighten us with your wisdom.

M-
Member

Steve Saretsky says Vancouver detached sales quantity -41% YOY, fewest detached sales in 27 years. Detached average sales price -20% YOY, median -9% YOY.

https://twitter.com/SteveSaretsky/status/1046811383419949056

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

But according to our resident liar, sales don’t matter, only prices.

There is no connection between the two.

Doomcouver
Guest
Doomcouver

Yes because a complete collapse of sales won’t cause marginal buyers to panic-sell or anything.

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

According to Oracle there is no such thing. If they don’t get the price they want they will simply pull it off the market.

southseacompany
Member
southseacompany

“Manhattan real estate is now in a year-long correction “, CNBC

https://www.cnbc.com/2018/10/01/manhattan-real-estate-is-now-in-a-year-long-correction.html

“What started as a blip is now a year-long slump for Manhattan real estate. And it shows no signs of turning around.”

“The average price of a Manhattan apartment fell 4 percent during the quarter, to $1.93 million, while the median price fell 5 percent over the last year to $1.1 million. There is now a seven-month supply of apartments, up from five months in the third quarter of 2017”

Simple Solution
Member
Simple Solution

that is because there is so much vacant land in Manhattan… in Vancouver we have no land

Doomcouver
Guest
Doomcouver

We have plenty of land around the GVR. Just pretend you’re a farmer and you can have all the ALR land you want.

Oracle
Guest
Oracle

Weaver and the Greens upset that NDP is going to push LNG through with Liberal votes.

Then where the heck were the Greens on other issues in the election platform. Example. They and Liberals can pass their own version of ridesharing allowing Uber.

FFS the Greens are a corrupt bunch.

KickThemOut
Member
KickThemOut

Fuck, when did the celebration of communist takeover of China became national holidays in Canada? Most of the fake sponsored employees didn’t show up again due to holiday and needing to attend to family visitors?? WTF? And yes, condo shopping is on the list.

Bitch about the weather is back in again. Apparently, they think rain can be controlled…

southseacompany
Member
southseacompany

“Housing market continues to cool in Metro Vancouver: Real Estate Board”, Global

https://globalnews.ca/news/4508734/vancouver-housing-market-cool/

“The Real Estate Board of Greater Vancouver says the supply of homes across Metro Vancouver continued to increase in September, while buyer demand remained below typical levels for this time of year.”

southseacompany
Member
southseacompany

“Vancouver Housing Demand Drops Like A Rock, And Prices Are Now Falling”, Huffington Post

https://www.huffingtonpost.ca/2018/10/02/vancouver-housing-demand_a_23548479/

“With unsold listings piling up, the supply of homes for sale is spiking, putting downward pressure on prices, which are now falling all categories, and in most areas of British Columbia’s Lower Mainland.”

Bubble
Guest
Bubble

After two years, still on the market (assessed $2,745,000)

6012 CHANCELLOR BOULEVARD
Date Comments MLS® Number
2018-May-07 Listed $2,888,000 R2265442
2018-May-01 Expired $2,990,000 R2196565
2017-Aug-11 Listed for sale R2196565
2017-Aug-11 Terminated $3,288,000 R2181514
2017-Jun-23 Listed for sale R2181514
2016-Aug-10 Expired $2,598,000 R2066223
2016-May-05 Listed for sale R2066223
2016-Jan-05 Terminated $2,150,000 V1125353
2015-Feb-24 Sold $1,738,000 V1097841

Oracle
Guest
Oracle

Who can afford these?

Time to go
Guest
Time to go

Even if you could, why would you want to spend 2.5mil on a half a house on leased land? Hoping for a foreign sucker that doesn’t understand what leased land is?

patriotz
Member

“Hoping for a foreign sucker that doesn’t understand what leased land is?”

That’s all there is in China.

Doomcouver
Guest
Doomcouver

As expensive as our housing market is, our leasehold valuations are the most ridiculous. I wouldn’t be caught dead buying a leasehold unless it was dirt cheap. Freehold or bust.

patriotz
Member

Something fishy about the listing. Well is it a strata or not?
https://www.rew.ca/properties/R2265442/6012-chancellor-boulevard-vancouver-bc

Strata Maintenance Fees $1,032
Title Leasehold prepaid-NonStrata

M-
Member

Another incompetent realtor… According to BC Assessment, it’s part of strata plan BCS1436, which has 6 units.

YVR
Guest
YVR

It is a strata on leasehold land. Worst of both worlds.

Simple Solution
Member
Simple Solution

now with three 8s in the price!!! should go for sure!

Oracle
Guest
Oracle

LNG a Go!! They pay zero taxes and royalty.

Site C a Go!! You pay.

TMX will soon be a GO! Courts excuse.

Ridesharing stopped!! NDP insider new app.

ICBC monopoly protected, rates up!!

No Bold housing action!! Blind trusts.

————————

Is this what you voted for?

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

You voted for them dumbass.

southseacompany
Member
southseacompany

“‘Buyers’ market’: Metro Vancouver home sales dive 40 per cent compared to this time last year”, Financial Post

https://business.financialpost.com/real-estate/real-estate-board-reports-metro-vancouver-home-sales-down-sharply

The headlines keep coming.

southseacompany
Member
southseacompany

“Vancouver home sales sink in September as listings hit multi-year highs”, BNN

https://www.bnnbloomberg.ca/vancouver-home-sales-sink-in-september-as-listings-hit-multi-year-highs-1.1146273

Heading for the exits?