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Old 03-29-2016, 10:53 AM   #5476
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Either these people really wanted to be in that area so bad or are fucking stupid or both. You can get that sq footage for a brand new townhome in Burnaby and heck even in a couple in Van. Unbelievable.
Where and is it move in ready?

Some of the pre-sales have that sq footage and around that price but not ready till 2017/2018.

We've been looking and been unsuccessful at finding anything move in ready. Most have been sold with many offers or have issues.
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Old 03-29-2016, 11:02 AM   #5477
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There aren't many rowhomes with tandem garages in Burnaby. Most townhomes in Burnaby are stacked. There is one new development, Saville Row, on Canada Way that offers rowhomes but they are now in the 750K range. Throw in GST and you're about the same, with a long ways away before occupancy (2018). Most of the other rowhomes are concentrated near SFU (built in the 80s) or there are small pockets in the Royal Oak area. It's insane, but I can see the logic if the buyers were desperate and did not want to go across the river.

You will be very hard-pressed to find rowhomes in the City of Vancouver today for 825K, even new construction in the River District. The best you will get is leasehold in Champlain Heights.
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Old 03-29-2016, 11:08 AM   #5478
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There aren't many rowhomes with tandem garages in Burnaby. Most townhomes in Burnaby are stacked. There is one new development, Saville Row, on Canada Way that offers rowhomes but they are now in the 750K range. Throw in GST and you're about the same, with a long ways away before occupancy (2018). Most of the other rowhomes are concentrated near SFU (built in the 80s) or there are small pockets in the Royal Oak area. It's insane, but I can see the logic if the buyers were desperate and did not want to go across the river.

You will be very hard-pressed to find rowhomes in the City of Vancouver today for 825K, even new construction in the River District. The best you will get is leasehold in Champlain Heights.
Last I heard, all the cheaper stuff from Saville Row sold out and now you'd be looking at $850K+ and won't be ready till late 2018/early 2019
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Old 03-29-2016, 11:18 AM   #5479
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I remember VRGTI talking about some of his friends who sold their condos and are now in their parents' basements waiting for the market to take a dip.

The family/couple who bought this townhome in Burnaby could have very well been one of these families who got fed up living in their parents' basement.
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Old 03-29-2016, 11:29 AM   #5480
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I remember VRGTI talking about some of his friends who sold their condos and are now in their parents' basements waiting for the market to take a dip.
There still living with the inlaws
You need to buy before you sell in this market
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Old 03-29-2016, 11:33 AM   #5481
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There still living with the inlaws
You need to buy before you sell in this market
The worst part is it adds to the problem. Nothing to buy, then I won't sell.
And that's why things are being bid up as people don't mind paying the premium for move in ready as opposed to buying pre-sale but having to wait 2 years down the road and then they still have to deal with the developer about new home issues.
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Old 03-29-2016, 12:23 PM   #5482
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There still living with the inlaws
You need to buy before you sell in this market
It depends what type of property you're selling. If it's desirable to the investor market, you could always sell and rent back from the buyer for a set period of time which gives you cash in hand to move in on a place with as few subjects as possible. Another upside is that you remain where you are and avoid the humiliation/hassle of moving back in with the parents/in-laws. The downside is you pay rent (which may or may not be at market rate), instead of putting in equity (which would give you a higher return given a typical mortgage rate of 2-2.5%) while your cash gets 3% at EQ bank or another institution.
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Old 03-29-2016, 12:31 PM   #5483
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Where and is it move in ready?

Some of the pre-sales have that sq footage and around that price but not ready till 2017/2018.

We've been looking and been unsuccessful at finding anything move in ready. Most have been sold with many offers or have issues.
Fair point, if you need it now then no dice as I'm referring to pre sales. Saville Row which has been mentioned now was one in mind. I got a unit back in Nov that was 4 bed, 1300 sq for 779 but then opted out and the same unit 2 months later in their Phase 3 was selling for 849. It's ok as I settled for a place with more sq footage in Van for the same price.
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Old 03-29-2016, 01:51 PM   #5484
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A 3 bed at Savile Row is going for 979k now.

5 5218 Savile Row - r2048921 : Burnaby Townhouses, Burnaby Townhomes : Burnabytownhouse.com
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Old 03-29-2016, 02:22 PM   #5485
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Fair point, if you need it now then no dice as I'm referring to pre sales. Saville Row which has been mentioned now was one in mind. I got a unit back in Nov that was 4 bed, 1300 sq for 779 but then opted out and the same unit 2 months later in their Phase 3 was selling for 849. It's ok as I settled for a place with more sq footage in Van for the same price.
That doesn't sound like settling haha.
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Old 03-29-2016, 03:34 PM   #5486
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That's the 3 bed with double garage though. The ones I was looking at didn't have garages.

Expresso - Lol yea, poor choice of words I far from settled. I mean shiet it took 15 months of constantly saying no to places and just sticking to my guns and at times thinking I'm fucked, what I want is not out there and prices are going up and then bam it happened.
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Old 03-29-2016, 05:48 PM   #5487
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Gf's place is a townhome in the Edmond area (still in Vancouver). Seems to be ok area, nothing "ghetto" about it. It's right by the trail too so pretty nice actually.
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Old 03-29-2016, 05:50 PM   #5488
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Gf's place is a townhome in the Edmond area (still in Vancouver). Seems to be ok area, nothing "ghetto" about it. It's right by the trail too so pretty nice actually.
Technically, you are closer to New West than you are to Vancouver.
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Old 03-29-2016, 06:59 PM   #5489
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got on the Peninsula VIP list, sent me the presentation package, showhomes expected to open in May i believe..



FINALLY some decent sized units.. With prices the way they have been going i doubt i'll be more than looking, but def nice to see 1000+ sq units

Even though it's in queensborough i wouldnt doubt some of the 1200 sq foot units starting at 850+
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Old 03-29-2016, 09:10 PM   #5490
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There aren't many rowhomes with tandem garages in Burnaby. Most townhomes in Burnaby are stacked. There is one new development, Saville Row, on Canada Way that offers rowhomes but they are now in the 750K range. Throw in GST and you're about the same, with a long ways away before occupancy (2018). Most of the other rowhomes are concentrated near SFU (built in the 80s) or there are small pockets in the Royal Oak area. It's insane, but I can see the logic if the buyers were desperate and did not want to go across the river.

You will be very hard-pressed to find rowhomes in the City of Vancouver today for 825K, even new construction in the River District. The best you will get is leasehold in Champlain Heights.
Interesting. I did not know Champlain Heights was mostly leasehold
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Old 03-30-2016, 01:14 AM   #5491
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inflation is in every market, tvm and opportunity cost is also everywhere, and you don't have to be an above average investor to avoid MERs. mutual fund ETFs and market ETFs are no secret.
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Old 03-30-2016, 08:59 AM   #5492
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Interesting. I did not know Champlain Heights was mostly leasehold
Most of the properties along the major streets (Kerr, 54th, Tyne) tend to be freehold, but once you get into the cul-de-sacs, it's mostly leasehold. Much of the old development south of Marine Drive is leasehold too, though you will find pockets of freehold strata, including detached strata properties.
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Old 03-30-2016, 09:29 PM   #5493
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Either pulling the trigger at Ellsworth tomorrow, or waiting for the bomb to explode. My mind's switches back and fourth hourly. lol. Either way, i'll be dumping my island place if I go for it. Too much risk in multiple units. I give this whole thing 3 years before she blows and 4444 will be even more cocky then he's ever been before. Ughh
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Old 03-30-2016, 10:49 PM   #5494
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Old 03-31-2016, 09:36 AM   #5495
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Either pulling the trigger at Ellsworth tomorrow, or waiting for the bomb to explode. My mind's switches back and fourth hourly. lol. Either way, i'll be dumping my island place if I go for it. Too much risk in multiple units. I give this whole thing 3 years before she blows and 4444 will be even more cocky then he's ever been before. Ughh
If the market crashes to the tune of 25-30%, would you still be employed/employable and would you be able to afford the payments? If you're putting that amount down, you could always suck it up and live in the unit (after all, isn't that the point?) Concrete construction in a walkable, urban neighbourhood is pretty good - you will always have a market for such a property (not necessarily Asian either).

Good luck.
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Old 03-31-2016, 11:20 AM   #5496
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Either pulling the trigger at Ellsworth tomorrow, or waiting for the bomb to explode. My mind's switches back and fourth hourly. lol. Either way, i'll be dumping my island place if I go for it. Too much risk in multiple units. I give this whole thing 3 years before she blows and 4444 will be even more cocky then he's ever been before. Ughh
Main and 7th? Man I kept wondering what was happening to that place, thing has changed names like 3 times in the last year and kept getting delayed. Primo location though, almost bought Wolhsein just down the block over a year ago but just couldn't deal with the small space and the live works shit int he building.
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Old 03-31-2016, 12:42 PM   #5497
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what are the prices for ellsworth
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Old 03-31-2016, 02:17 PM   #5498
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what are the prices for ellsworth
I have some figures that aren't supposed to be advertised, but tonight is the first time to see all floor plans and prices (Friends and Family showing). It's pushing "diamond" level as Westopher once said. Maybe more of a yellowish hue, with some imperfections.
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Old 03-31-2016, 02:20 PM   #5499
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Old 03-31-2016, 02:38 PM   #5500
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I have some figures that aren't supposed to be advertised, but tonight is the first time to see all floor plans and prices (Friends and Family showing). It's pushing "diamond" level as Westopher once said. Maybe more of a yellowish hue, with some imperfections.
Guess this one's out of the picture...

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