It’s the end of another work week and that means it’s time for another Friday free-for-all here on VCI.
This is 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:
–Some recent stats
–Rentals, the other disaster
–For rent, van with no toilet
–Scotiabank: Buyer tax the right move
–Mansion prices drop
–Prices to dip 10%
–Thousands of job losses
–What 3 mill gets you in Scottsdale
–Vancouver & Toronto go in different directions
So what are you seeing out there? Post your news links, thoughts and anecdotes here and have an excellent weekend!
Every so often it’s fun to play a game of compare and despair with the price of Vancouver real estate.
Buzzfeed has just discovered this and posted a list of 9 castles that cost less than a Vancouver condo.
I’m betting none of those castles is walking distance to a coffee shop.
“If they got in early, they got burnt” says the selling agent about the Olympic Village condo development.
The Globe and Mail features this deal where a unit was purchased new for $1,565-million + HST in 2010 and recently sold for somewhat less.
He says prices dropped in 2013, when the city took over sales. At that time, he sold a 1,200-square-foot unit, with a water view, in the same building for $860,000. “That’s more like a Burnaby price,” Mr. Yan says.
Last December, he advised a client to purchase this unit, and she jumped on it. She’d been looking for three months in Richmond and Yaletown as well.
“I said to her, ‘If you had talked to me a year earlier, I would have got you an even better deal [in the building],’” Mr. Yan says.
Read the full article here.
Looks like those basement mortgage helpers might have some competition soon if this plan goes through:
Downtown Vancouver Luxury Hotel to become International Student Housing
The 17-storey building will undergo a $37 million renovation and have 220 beds for international students come September, according to Global News; the company is eventually hoping to expand into Vancouver and Richmond and have beds for 5,000 post-secondary and high school students in nine different buildings.
The Viva Suites will be available from $900 to $2,500, depending on the amenities, location, and building, The Province reports. Some of the amenities available are a weight room, housekeeping, secured underground parking, and Internet. The suites will be available for daily, weekly, monthly, or yearly rental, with no long-term commitments required, states a company press release.
Read the full article here.
The house of Vito Corleone from the film “The Godfather” is for sale on Staten Island, New York.
Every so often it’s interesting to see what sort of premium you pay for being within walking distance of 14 different coffee shops and a handful of grow ops here in Vancouver.
We’re not sure how many grow ops are within walking distance on Staten Island, but we know there aren’t 14 different coffee shops nearby, so the asking price is ‘only’ $2.9 million.
For that much here on the west coast you’d probably still get the ‘man cave’, gym and maybe even the ‘english pub’, but probably not the saltwater pool.
Any film history fans thinking of moving to the east coast?