Vancouver's Real Estate Market

[Hondaracer]

How much for rent

Also where does one look for/post rentals? Is there anything better than Craigslist?

[kr4l]

^craigslist is honestly best for almost everything nowadays. But with so much exposure, you will get a shit tonne of bad apples (if you're posting a place to rent out)

[Armind]

Party at hud 91gt's thug mansion

1. Armind

[SumAznGuy]

Originally Posted by yameen

sorry i was just throwing a random number out there. i'm pretty sure it's about 600-700k but i'm trying to get a small 2br condo for about 500-600k. is it still a good time to get into the condo market?

The answer hasn't really changed much since you asked pretty much the same question back in April.

No one here can give you the right answer.
You're best bet is to actually shop around and see what you can get.
For one, hard to find a livable house with land in Surrey for $500K.
2 bedroom condo's are ranging in price depending on how old the building is.
Get yourself a realtor or start looking on MLS and see what is available and quit posting random numbers.

This is what $500Kish will get you in Surrey.
https://www.realtor.ca/Residential/S...olumbia-V3T4N9
https://www.realtor.ca/Residential/S...olumbia-V3V3L7
https://www.realtor.ca/Residential/S...olumbia-V3V3X7
Just to list off the 3 cheapest livable houses with land in Surrey.

This is the cheapest 2 bedroom apartment in the Brentwood area.
https://www.realtor.ca/Residential/S...olumbia-V5B4S5
This is the most expensive 2 bedroom apartment currently listed on MLS in the Brentwood area.
https://www.realtor.ca/Residential/S...olumbia-V0V0V0

[hud 91gt]

It's an 80's rap video for sure. It's dated but so amazing. Ha. There are a few in the $4000 range. Rediculous when you look and see what you get downtown for 4g's.

[MrPhreak]

Originally Posted by Hondaracer

How much for rent

Also where does one look for/post rentals? Is there anything better than Craigslist?

Padmapper.com is pretty good

It pulls from multiple sources (Kijiji/Craigslist/Airbnb.... etct). I believe that they have some verification systems in place for landlords to try and weed out the scammers

[jing]

Originally Posted by westopher

You are only a month past what was absolutely definitively the worst time history has ever seen to get into the condo market.
Is it going to get better or worse? Let me get my crystal ball........

I closed the on my condo in early August, on the day the new tax kicked in. Since then, a similar unit in the same building has sold for 20k more, and though sqft is the same and it's one floor higher also facing the same direction, I'd argue that the layout is worse than my unit. Just some food for thought.

[westopher]

Perhaps its just pushed people into a lower section of the market, in which case, Vancouver completely fucked, as it will literally have had the exact opposite effect of making vancouver more affordable.
Making giant homes more affordable for canadian millionaires while completely fucking the entry level market. We will need a reasonable amount of time before any meaningful data is available, but holy shit if thats the case we are in for a MUCH larger problem.

[chinook79]

You do realize that there's more reason to not building bridge to connect Vancouver island than locals bitching about it?
The seafloor between island and lower mainland isn't suitable for building bridge on top of it and neither is building such a long suspension bridge over earthquake zone.

Originally Posted by meme405

Yeah the fucking islanders have been very vocal about that. Personally I think the rest of the province should stop subsidizing the ferries for them if they really feel this way. Then maybe they would shut the fuck up and we could just build a bridge. Fuck them.

Like the fucking idiots who live on Hornby and Denman island:

"No you can't build a bridge, that will kill the quaintness of our community"

And then in the same breath: "No the ferry has to run a dozen times a day, regardless of how empty it is, so that I can get back to real life quickly whenever the need arises".

And thus BC ferries hemorrhages money like they are Greek or some shit.

[meme405]

Originally Posted by chinook79

You do realize that there's more reason to not building bridge to connect Vancouver island than locals bitching about it?
The seafloor between island and lower mainland isn't suitable for building bridge on top of it and neither is building such a long suspension bridge over earthquake zone.

Three years ago I was involved in 1 independent study and 1 review panel related to this bridge, and another study related to other options for the crossing. All I can say is that:

1. What your saying is true, there are a few hurdles related to geography and geology, but it does not make the bridge impossible to build. It just makes it more cost prohibitive.

2. The government is always evaluating options, even when it isn't publicly.

The bridge if it ever goes forward would have a significant toll. Meaning Crossing fees would not be cheaper than what a ferry is now, however the ability to cross in minutes rather than hours is the main draw.

[MarkyMark]

How long would it take to drive vs the time it takes the ferry to do it? Not counting the loading times and whatnot, just curious.

[Liquid_o2]

I don't know where the exact bridge would be, but Horseshoe Bay to Nanaimo is about 50km. So depending on the speed you could drive, probably about 30 to 40 minute drive to the island.

[Tapioca]

Poloz is saying that the BoC will not raise its rate given the sluggish economy.

Yellen is not raising the Fed rate, but is concerned that bubbles are forming in certain assets. The Fed may raise its rate in December after the election.

Most people take 5-year fixed rate mortgages. So, will there be a run up in buying over the next couple months to secure low rate fixed mortgages? Or will people just take variable mortgages going forward as the spread between the two returns to historic levels?

[originalhypa]

Originally Posted by MarkyMark

How long would it take to drive vs the time it takes the ferry to do it? Not counting the loading times and whatnot, just curious.

The confederation bridge in PEI is about a 10 minute drive with a span of about 12 km. The closest point from the mainland to the Gulf islands is about 18 km, so it would take about 15 minutes to get to the closest of the islands. Barring any c-lai crashes, of course.

Even if it was a speed limited, traffic laden 45 minute drive, it would still beat the 2.75 hrs it takes on that shitty ferry.

[twitchyzero]

if they ever build one there better be a OMG TURN AROUND sign that can be activated well before the span when there's an accident or they refund you a month worth of tolls

[Hondaracer]

Got approved for a new 5 year fixed at 2.49 yesterday

Better than the rate we currently have that we reupped on 2 years ago

[Presto]

My renewal notice arrived while RBC was having a deal on 3-year fixed @ 2.15%. I was all over that, but the agent screwed up something, and they defaulted me to 5-year variable @ 4%! Hopefully, they fix it soon.

[meme405]

For anyone make sure to visit a couple places and negotiate.

I got an offer for 2.09 2 year fixed at BMO and my bank matched that.

Spoiler!

Back to the conversation about the bridge it would depend on the final bridge, but the crossing time on one proposal was 20-25 minutes. The recommended toll was $50-$60.

In the back of my brain I could only think at the time that the government would definitely set the speed limit 20km/h lower than the recommendation so 30-45 minutes to cross instead, and the toll would definitely be $75-$100 by the time they fuck everything up.

[Tapioca]

Originally Posted by meme405

For anyone make sure to visit a couple places and negotiate.

I got an offer for 2.09 2 year fixed at BMO and my bank matched that.

If you want a no-frills mortgage (ie. No HELOC, no skipped payments, etc), your best is to go through a mortgage broker and use one of the monoline lenders such as MCAP, or EQ Bank.

Also, gotta watch out for collateral vs conventional charge mortgages.

[jasonturbo]

Hahahaha

Mississauga condo developer forgets to put 120 bathrooms in brand new building - Home | This is That with Pat Kelly and Peter Oldring | CBC Radio

[IGTBAR]

.

[GLOW]

Originally Posted by jasonturbo

Hahahaha

Mississauga condo developer forgets to put 120 bathrooms in brand new building - Home | This is That with Pat Kelly and Peter Oldring | CBC Radio

This is That is an award winning satirical current affairs show that doesn't just talk about the issues, it fabricates them.

[meme405]

Originally Posted by jasonturbo

Hahahaha

Mississauga condo developer forgets to put 120 bathrooms in brand new building - Home | This is That with Pat Kelly and Peter Oldring | CBC Radio

Please tell me you didn't actually read that and believe it...

[jasonturbo]

Originally Posted by meme405

Please tell me you didn't actually read that and believe it...

I actually did, because it's hosted by CBC... And because people are stupid and would buy condos without washrooms.

Apparently, I am also stupid.

Shame on you CBC.

[westopher]

Lol Jasonturbo is like the weird, gullible extremely right wing middle aged uncle that shares satire on Facebook and thinks it's real.