Greater Vancouver has best month for home sales since 1986

Best if you’re hoping for price drops on real estate that is.

We dont have official numbers for March yet, but realtor Steve Saretsky says that we just saw the lowest March sales numbers since 1986:

Saretsky said prices are in fact taking a dip, however the slide isn’t evenly distributed.

“You know you can probably get a 40 per cent discount at a house in West Vancouver, but you might only get a 15 per cent discount on a house in East Vancouver.”

He added that condo sales also saw an 18-year low last month.

Of course he did say this on April 1st. Read the full article here.

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[…] – sales tumble to 33 year low […]

paulb
Member

New
234
Price Change
115
Sold
93
TI:13791

http://www.clivestevepaul.com

Bubble
Guest
Bubble

Why is New York City cracking down on Airbnb?
https://youtu.be/pvR9YN8Mpgc

bullwhip29
Guest
bullwhip29

Vancouver realtor, Steven Sion Hok Oei, fined for giving false info about the age of a house
https://www.citynews1130.com/2019/04/04/vancouver-realtor-fined/

>>> in this case buyer should be granted an option (of at least 1-2 wks) to back out of deal due to fraudulent misrepresentation. if seller’s agent lied about this, who is to say other details in the PDS weren’t fudged as well? if, at the end of new subject removal period buyer still wishes to proceed, then seller’s agent should forfeit all of his commission which should then be awarded to buyer as further compensation

Dave
Member

I can tell you stories…

Bubble
Guest
Bubble

Flipping gone wild:

1896 WESBROOK CRESCENT, UBC area, Vancouver

Someone bought this piece of land for $6,100,000 4 years ago, and tried to sell it for a big profit. Many realtors are involved.
Price reduced from $11,780,000 to $6,980,000

Date Comments MLS® Number
2019-Mar-22 Listed $6,980,000 R2351669
Royal Pacific Realty Corp.
2019-Mar-22 Terminated $7,980,000 R2348747
2019-Mar-11 Listed for sale R2348747
Royal Pacific Realty Corp.
2019-Mar-01 Terminated $11,900,000 R2334241
2019-Jan-21 Listed for sale R2334241
Homeland Realty
2019-Jan-21 Expired $11,900,000 R2304292
2018-Sep-10 Listed for sale R2304292
Homeland Realty
2018-Aug-17 Terminated $11,900,000 R2285926
2018-Jul-01 Listed for sale R2285926
LeHomes Realty
2018-Jun-19 Terminated $9,980,000 R2263908
2018-Apr-27 Terminated $11,780,000 R2232948
2018-Apr-26 Listed for sale R2263908
Royal Pacific Realty Corp.
2018-Jan-17 Listed for sale R2232948
Royal Pacific Realty Corp.
2017-Dec-01 Terminated $11,680,000 R2215054
2017-Oct-17 Terminated $11,680,000 R2188320
2017-Oct-16 Listed for sale R2215054
Sutton Group-West Coast Realty
2017-Jul-13 Listed for sale R2188320
Sutton Group-West Coast Realty
2017-Jul-10 Terminated $7,990,000 R2176710
2017-Jun-12 Terminated $9,600,000 R2165946
2017-Jun-11 Listed for sale R2176710
New Coast Realty
2017-May-12 Listed for sale R2165946
New Coast Realty
2017-May-11 Expired $10,000,000 R2129549
2017-Jan-06 Listed for sale R2129549
Royal Pacific Realty Corp.
2016-Nov-23 Terminated $11,780,000 R2102793
2016-Aug-21 Listed for sale R2102793
Royal Pacific Realty Corp.
2016-May-31 Terminated $11,780,000 R2059976
2016-Apr-18 Listed for sale R2059976
Royal Pacific Realty Corp.
2015-May-02 Sold $6,100,000 V1097400
2014-Dec-30 Listed for sale V1097400

Oracle
Guest
Oracle

Was it sold outside of the MLS system each time is was MLS Terminated?

Check the BC assessment site.

Simple Solution
Member
Simple Solution

No sales history in the last 3 years.

Laibach
Member
Laibach

Cash changing hands in China? Macau gambling token?

bullwhip29
Guest
bullwhip29

this looks like a cookie cutter New Coast money refining special

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

How so?

bullwhip29
Guest
bullwhip29
Laibach
Member
Laibach

It is a well known and widely implemented business model in BC that involves various business experts from China? The same model implemented by Istuary Innovation Lab Ltd which was highly regarded by Canadian PM. It is professionaly known as “Ponzi scheme and sham”.

https://www.cbc.ca/news/canada/british-columbia/lawsuits-allege-vancouver-tech-company-a-ponzi-scheme-and-sham-1.4310897

Laibach
Member
Laibach

They seem to be business savvy…

“The three-bedroom townhouse with views of Coal Harbour was bought in late 2017 by Hobbs and Cheng for $4.1 million in cash, but was recently listed for sale at $7.88 million.”

bullwhip29
Guest
bullwhip29

Just a day after it emerged that St. Paul’s Hospital was up for sale, another significant Vancouver property has hit the market
https://globalnews.ca/news/5131470/international-village-for-sale/

bullwhip29
Guest
bullwhip29

B.C. to consider ‘some relief’ for drivers who can’t afford gas prices
https://bc.ctvnews.ca/b-c-to-consider-some-relief-for-drivers-who-can-t-afford-gas-prices-horgan-1.4366530

>>> LOL…wtf?

Canada is for Canadians
Guest
Canada is for Canadians

New York nearly got a version of Vancouver’s empty homes tax — before the real estate industry killed it

https://globalnews.ca/news/5114312/new-york-vancouver-empty-homes-tax/

SAD!
Guest
SAD!

Are Chinese Girls “Breed Ready?” | China Uncensored

A hacker discovers China’s database of “breed-ready women.” Is this the CCP’s plan to combat the disastrous consequences of their One Child Policy, falling birth rates and an aging population?

https://www.youtube.com/watch?v=fR-JFTByewI

Dave
Member

One for the anecdote file…

A new courier came to my office today and I recognized him as a realtor. It’s not surprising that some realtors are going to need second jobs, but I saw it firsthand today.

Simple Solution
Member
Simple Solution

“realtor”…

Screwed
Guest
Screwed

Was it Rennie?

Dave
Member

I think Rennie will be fine. He’s a middle man and isn’t that exposed. He doesn’t have large capital or fixed costs in my view. He can always lay people off to get his costs down. Since he’s at the top, the question is whether he makes $50 Million or $10 Million this year. Either way, he’s making good coin.

Doomcouver
Member
Doomcouver

Wish we still had the realtor hunger index. They’re hungrier than ever right now.

Dave
Member

I’d rather see the sugar-baby MILF index. I bet a lot of Milfy realtors pursue that as a side gig. How else you gonna pay for that leased BMW, Holt Renfrew card and shoe budget? Prices are headed down… for sure. What they’re going to learn is nobody pays for Milfs because you get them for free.

YVR
Guest
YVR

Are you saying open house traffic does not pay the bills?

Dave
Member

Not unless you’re finding a sugar daddy or mommy in that open house traffic.

Dave
Member

Price decreases seem to be ahead of what you would expect from Months of Inventory. I think the reason for that is sales are so low relative to a couple years ago that realtors are starting to push their clients to cut prices, just so they can make a sale.

Laibach
Member
Laibach

That guy got lucky to look for another job early and get a good one (courier ) while they are still available.

Dave
Member

A lot of realtors lease cars, as do couriers, so that might be a good cross-over job, at least in their minds.

Hyper-mega-Bull
Member
Hyper-mega-Bull
Best place on meth
Member
Best place on meth

I was expecting this to be about Vancouver.

Make Trudeau a Drama teacher again?
Guest
Make Trudeau a Drama teacher again?

Lets hope they hate Trudeau

Daphne Bramham: Concerns raised about Chinese interference in Canada’s fall election http://vancouversun.com/news/local-news/daphne-bramham-concerns-raised-about-chinese-interference-in-canadas-fall-election

Best place on meth
Member
Best place on meth

No china man should be allowed to set foot in this country unless they sign a declaration denouncing the communist party.

Laibach
Member
Laibach

Rather not allowed in at all, because to get them to “sign” whatever is pointless. They certainly signed those fake passports too.

https://www.cbc.ca/amp/1.3886719

Dave
Member

Who doesn’t?

Laibach
Member
Laibach

Canada has become “a battleground on which the Chinese Communist Party seeks to terrorize, humiliate and neuter its opponents. As one of the organizers, Li spoke last. She urged Chinese-Canadians to speak up in support of non-Chinese critics when Chinese officials and their supporters try to silence them with accusations of racism.”

Fucks apparently became deeply infiltrated. VCI is a good example with remarks from their regular shitheads.

bullwhip29
Guest
bullwhip29

Ten months after B.C. outlawed real estate agents acting for both a buyer and a seller of the same property, the controversial “dual agency” ban has barely raised a ripple
https://biv.com/article/2019/04/impact-dual-agency-ban-downplayed

StupidityCheck
Guest
StupidityCheck

Just checked, and BullwhipLikesLinks.com is available. Maybe you could spend your time there, instead?

SilentBob
Guest
SilentBob

I for one appreciate his efforts.

Canada is for Canadians
Guest
Canada is for Canadians

so do I.

bullwhip29
Guest
bullwhip29

To combat illegal cash transactions at Richmond City Hall, the finance committee is endorsing a limit of $10,000 for any cash payments
https://www.richmond-news.com/news/paying-taxes-with-cash-frowned-upon-in-richmond-1.23779894

>>> so, in other words, virtually every owner can still pay their property taxes with cash. as Rmd coun. greene pointed out that even a $7000 limit would have captured 95% of tax bills

bullwhip29
Guest
bullwhip29

A proposal for rental-only zoning in Richmond was punted back to staff after the planning committee concluded there was still need for more information and consultation
https://www.richmond-news.com/news/richmond-rental-only-zoning-bylaw-sent-back-to-staff-1.23780000

>>> well that was fast…

paulb
Member

New
283
Price Change
114
Sold
68
TI:13733

http://www.clivestevepaul.com

Specuskeptic
Member

14K by Friday? If not, we’ll see that Monday. That will have us crossing well into the upper half of historical norms. Love the trend line at the moment…. https://vured.blogspot.com/

Not counting chickens before they hatch, mind you.

Doomcouver
Member
Doomcouver

5-year high on TI for March and a 33 year low on sales. Impressive… I’m extremely interested to see April numbers. Should start breaking some big total inventory records soon as well.

Best place on meth
Member
Best place on meth

Today is the highest inventory since May 2015.

Best place on meth
Member
Best place on meth

Doesn’t matter if we’re a little over or a little under by Friday.

This downward trend has not only taken hold over a long period, but it’s gaining momentum as the market continues to deteriorate.

Enjoy the high listings, low sales and rapidly increasing inventory. This trend is not turning anytime soon.

SAD!
Guest
SAD!

China’s Secret Invasion of the US | General Robert Spalding | Trump China | China Uncensored

https://www.youtube.com/watch?v=PHgqPaqUt80

Best place on meth
Member
Best place on meth

It’s heartwarming to see everyone now despising china.

Still, I don’t understand why it took so long.

YVR
Guest
YVR

Trump was talking about China and their criminal trade practices 25 years ago. Too bad it took him so long to run for president.

Laibach
Member
Laibach

Right, decoupling by all means.

Hyper-mega-Bull
Member
Hyper-mega-Bull

the most important video you can watch this year to understand the world we live in.

Watcher
Guest
Watcher

Several areas recorded month over month price increases in the Single Family Detached category in the latest REBGV stats report. Price increase areas include North Van, North Burnaby, South Burnaby, Ladner, Maple Ridge, Pitt Meadows, Sunshine Coast. Richmond was unchanged.

This combined with the disastrous headline about lowest sales since 1986 makes one wonder if this the bottom is in.

JT sucks
Member
JT sucks

Fake News!

Dave
Member

The bottom isn’t in until I say so. 6-18 months to go. Trust me on this.

Oracle
Guest
Oracle

I’m thinking 5-10 months and off we g

Dave
Member
The market can only take off at certain times in my view… Fall or Spring, which is either October or say April. That’s where my months come from. I’m saying October 2019, April 2020 or October 2020. Bears need to realize we’re well into this now and real estate corrections aren’t typically long. The last two major corrections bounced quickly. We’re a couple years into the detached home correction and almost a year for condos. We had a failure to bounce this Spring. The next test is 6 months away and prices will be down at that time along with interest rates with pent up demand. And if we don’t bounce then, there will be that much more pent up demand and even lower prices for the next test. If you’re looking to buy, I think you gotta watch for… Read more »
Laibach
Member
Laibach

That is odd, a slump even hardly started?

Watcher
Guest
Watcher

We are two years from the peak.

real estate
Guest

see our list in http://www.roomvu.com

bullwhip29
Guest
bullwhip29

Richmond housing is a gold mine for big Airbnb players – some live abroad
974 Richmond Airbnb listings are reported, including 26 run by the same operator
https://www.richmond-news.com/news/richmond-housing-is-a-gold-mine-for-big-airbnb-players-some-live-abroad-1.23778572

Canada is for Canadians
Guest
Canada is for Canadians

“The city of Richmond should know about it and do something about it. If they ever need my help gathering the data, I’m happy to help,” said Rezel.

except that the city of Richmond is only paying lip service to this issue because they are scared of being called “racists”. I have never in my time seen so many levels of government seemingly powerless to stop any type of crime (drugs, money laundering, Airbnb, frauds, etc. ) unless it’s for writing revenue producing speeding tickets, then they have lots of resources for that.

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

Evidence that they’re scared of being called racists? Zero.

Canada is for Canadians
Guest
Canada is for Canadians

And it’s the same reason that they won’t enforce their signs bylaw.

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

Why doesn’t the City of Vancouver enforce its dog leash laws? What are they scared of in your opinion?

YVR
Guest
YVR

It could be dogs are nice to be around and do the city no harm. On the other hand…

Best place on meth
Member
Best place on meth

As far as I know, the city does enforce leash laws?

And why are you comparing chinese to dogs?

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

If you ever ventured outside your palace you would see people in parks, at the beach, and on streets violating dog leash laws. They don’t give a fuck, and there’s no enforcement.

There are also people smoking within 6 meters of doorways and windows.

They’re clearly too afraid, right?

Best place on meth
Member
Best place on meth

Ok, let me try to explain this to you, as painful as it is to do so.

Dogs are moving targets and only in 1 place for a few minutes. Therefore it’s difficult to catch them all.

Smokers are a moving target and only in 1 place for a few minutes. Therefore it’s difficult to catch them all.

Signs in chinese on the other hand are……fuck, never mind.

bullwhip29
Guest
bullwhip29

The St. Paul’s Hospital site in Downtown Vancouver has quietly been put up for sale. But details are hard to come by
https://vancouversun.com/business/commercial-real-estate/st-pauls-hospital-site-in-downtown-vancouver-up-for-sale

Bag it and tag it
Member
Bag it and tag it

I’m sure they already know who’s going to buy it. They’re just pretending that it’s on the open market for optics. Oh yeah, Moonbeam is no longer mayor, so maybe I’m wrong on that.

patriotz
Member

“Oh yeah, Moonbeam is no longer mayor, so maybe I’m wrong on that.”

CoV doesn’t own St. Paul’s or any other hospital in the city. The article itself says it’s owned by Providence Health, which is a non-profit that operates all the historical Catholic hospitals.

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

These losers don’t do facts, only opinions.

Best place on meth
Member
Best place on meth

Calling everyone here a loser is in FACT just an OPINION.

Chew on that for a while, bitch.

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

Racists are losers by definition. Duh.

Best place on meth
Member
Best place on meth

Calling everyone here a racist is another one of your incredibly worthless opinions.

You’re just full of opinions, among other things.

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

If you use racial slurs or support the use of them then you’re a racist. That’s a fact.

Life must be so difficult for you. No wonder you’re quite the failure.

YVR
Guest
YVR

False

Best place on meth
Member
Best place on meth

Nobody cares what you think, but it’s time for you to go harass patriotz again.

It’s been over an hour.

bullwhip29
Guest
bullwhip29

Vancouver fails to build any affordable market rental in 2018 for households making $30K to $50K
https://www.cbc.ca/news/canada/british-columbia/vancouver-council-reforms-1.5081363

bullwhip29
Guest
bullwhip29

Even as the B.C. government reviews a pair of reports on money laundering, court documents obtained by CBC reveal an investigation into a Richmond man allegedly linked to thousands of dollars worth of suspicious casino transactions. According to information sworn to obtain a search warrant, the Richmond RCMP’s organized crime unit arrested the man for money laundering during a traffic stop last month.
https://www.cbc.ca/news/canada/british-columbia/money-laundering-casino-rcmp-1.5081509

Best place on meth
Member
Best place on meth

“By some estimates, as much as $2 billion in dirty money flowed through B.C. casinos before the government cracked down on the problem.”

It’s a sickening thought, and some folks might black out if they try to ponder this, but what if Krusty were still premiere?

YVR
Guest
YVR

The NDP are forecasting casino revenue to increase in the next 3 years over what it was under “Krusty”. So if we ponder it then we would see less money flowing if Krusty was still in power.

Canada is for Canadians
Guest
Canada is for Canadians

It’s a billion a year so $2 billion is too low.

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

Is this the bit where you bleat about the system being broken?

aaa
Guest
aaa

China Launches Anti-Justin Trudeau Propaganda Blitz In Canada To Defeat Him In 2019

https://www.youtube.com/watch?v=qH-l-grquPY

franko
Member
franko

He doesn’t need China’s help with that. He’s doing just fine with that all on his own.