I'm still shocked at how many homes are selling over asking. Just in my neighborhood alone (South Surrey) I've seen two homes sell for well over asking. 150k for one of them. Price point between 1.5m and 1.65m.

I really thought the rate hikes would at a minimum lower the prices in the area but as my wife always says "there's always someone else out there who has the money" (she works for a big bad developer [emoji38] so she sees it daily)

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A house around the corner of me finally sold for 1.9x after being listed at 2.1 for like 3 months. Dumpy house but it has two separate rentable “suites”

grandmas house just sold for just a little over asking. buyers paid all the fees too.

kind of sad - it's been in the family since the 50's. Nobody could justify keeping it.

Can't help but feel we've forever reduced our family RE portfolio. None of my generation will ever afford detached in the lower mainland again.

Not much you can do unless you move away from lower mainland. It’s the only way to escape this madness.

Lol, I've explored the idea of doing that myself - not the suicide part, but the take out a bunch of loans, go overseas for several years, then come back to Canada.

Girlfriend's family has expressed interest having us work for the family business in Taiwan and the Philippines. Even if my credit is FUBAR'd, we can just open everything under her name, lol. Not sure if I would get sued when I return, didn't look into that too seriously.

Prior to my dad passing away, one of his good friends suggested to him to blow his entire credit limit. My dad was an ethical man though, so he declined to think about it too much. He might've thought that my mom might be liable for certain things or be harassed.

Feeling this right now. We will never be able to buy land again, hang onto whatever your family has, if possible of course. I'd rather live in a family owned fourplex than a 100+ unit strata ever again.

Sorry to hear. I dread the day should me and my siblings ever sell our parents house in East Van. The goal is to keep it in the family but even the sheer thought of ever selling it feels bad man. :okay:

I thought they go after the estate? So they will take any assets before it goes to your mom?

This is what happens

https://loanscanada.ca/debt/who-has-...ceased-person/

The bank can really only put a lien on the estate.

If you don't have any kids, or no assets for them to inherit, go for it :lol

Golden showers until you drown to death in Thailand baby.

Yeah, maybe I'll fuck off to Red Deer or Saskapoon

$400,000 can get a very nice place

Just have to change my life OST

Going to be listing our place by the end of the month. Will be interesting to see what kind of offers we will have since our home was supposed to be our forever home when we built it so did a lot of upgrades not a lot of people would notice or really care for.

Also looking to load a bunch of boxes into a container and have them deliver it to our new house a month later. Had anybody used PODS or bigsteelbox?

what upgrades did you do?

Lots of small stuff
Roxuld all the bedrooms..should have just cheaped out and not do it
dug out sewer connection deeper so no sump needed
Laminated windows on all main floors and basement
Whole house surge
Redid the whole sidewalk(we are a corner house) should have just left it the shitty CoV one they had before
Gutter guards for house and garage
Thermal exclusion…put us back a month during our build and added cost to build.
Im sure theres way more but thats off the top of my head. House is 6 years old now but everything was just more $ if i wanted this instead of that during the build.
Would have cheaped out on some fixtures/millwork and probably would have used a cheaper interior designer.

Hope ok proven wrong and whoever buys it appreciates it!

Just curious, what's the decision maker why it's no longer the forever home?

Built the home when the kids were 4 and 2…now that their a bit older home has gotten a little more cozy.
Wife also wanted to change school catchment to a “better” one. I bad for my kids having to change schools as they’re moving away from their friend they’ve made since kindergarten.

I'm curious whereabouts you live and the need for a sump pump?

We are about 90 ft above sea level lol i meant the exterior yard pump

sounds like tswasssesssesenn to me. the beach grove side.

Friend of mine is looking at detached in Vancouver.
His budget is $2.2M and he's having a hard time.
Not sure if the houses are purposes being under listed, but there are alot asking $1.9M but they are selling for like $2.4M

He's hoping the interest rate increase helps cool the market, but there's just not that much inventory out there.

How bad is the current school catchment

Its not bad its a westside school but we are moving further west.
I went with PODS instead of bigsteel box as it was half the price. Had to apply for a street permit use for the container which is another added cost.

Is the market that hot still? Our realtors think it is and gave us a big number where they think we should list our home…
Back when we bought our new place open in april open homes were crazy

I still think the market will see a lot of action this fall. Talked to various bankers again recently who told me of the amount of seven figure clients with money locked in GIC's and HISA's that can't wait to get back into the market. They went to the sidelines for 5% 1yr non-redeemable last Aug/Sept waiting to see how the interest rates would hurt the market but they're anxious to get back in the game with the cash for bidding. My uneducated $0.02

Yes if you're looking at $2m houses most likely you're not a first time home buying trying to scrape by. At $2m what's another $100k here and there. That's literally their gic at 5%.

:okay: