Vancouver's Real Estate Market

[Gumby]

There are actually two bathrooms on the main floor - one off the bedroom has a shower, whereas the one off the kitchen also has a bathtub (which is weird for a supposed powder room).

[Hakkaboy]

Originally Posted by Eff-1

That's going to be a tough one to sell.

Upstairs master ensuite serves as the only bathroom for the entire floor. No thank you.

Alternatively, the main floor bedroom has its own bathroom, except it's located right off the kitchen.

That bathroom also serves as the only option for guests when you have people over.

Some might say that house has charm and they like the idea of a renovated older home... but at $2.2m there needs to be more functionality.

It was assessed at $1.3M. Does the owner think that this has 800K worth of renovations or something?

Knowing nothing about Fort Langley, but isn't this sooooooo much better at the $100K less?

https://www.rew.ca/properties/23072-...ail-langley-bc

[Hondaracer]

Love that house, classic colonial, too bad it didn’t have a bigger back yard

[spacemanrick]

I live in Port Coquitlam and we frequently take the 25 minute drive out to Fort Langley to have dinner (96 avenue is a nice driving road). I think Fort Langley may be one of those places that is great to visit but not to live unless you are really into a quieter slower pace. The main strip area is small and cute and geared towards tourists but there really isn’t much in town for everyday amenities though Lee’s Market has most of the basic groceries you will need. If you are close to the train tracks the trains are frequent and noisy and travel at a high speed. The mosquitos from the river can also be quite bad in the summer. $1,000 per square foot for a condo in Fort Langley seems outrageous to me but who knows for someone it may be the right lifestyle choice.

If you are ever in Fort Langley and want to eat some great sushi Wabi Sabi Sushi is great. It is fairly new and I just ate there last night and it was stellar! Wendels bookstore also has great food at a reasonable price and the Blacksmith Bakery is also very good for desserts and sandwiches.

[Badhobz]

Originally Posted by Hakkaboy

It was assessed at $1.3M. Does the owner think that this has 800K worth of renovations or something?

Knowing nothing about Fort Langley, but isn't this sooooooo much better at the $100K less?

https://www.rew.ca/properties/23072-...ail-langley-bc

thats a gorgeous house. old school and too cut up for my taste, but i think tis very homely feeling.

[Eff-1]

Originally Posted by Gumby

There are actually two bathrooms on the main floor - one off the bedroom has a shower, whereas the one off the kitchen also has a bathtub (which is weird for a supposed powder room).

ahh good catch, I missed that.

[Eff-1]

Originally Posted by Hakkaboy

It was assessed at $1.3M. Does the owner think that this has 800K worth of renovations or something?

[/url]

Seems that way.

Sold in Sept 2023 for $1.4M.

Then they renovated/updated it. And listed it this past spring for almost $2.5M and been dropping since.

2025-Jul-10
New Price
$2,199,800

2025-Jun-17
Listed
$2,299,800

2025-May-24
Terminated
$2,359,500

2025-Apr-22
Listed
$2,389,500

2025-Apr-22
Terminated
$2,489,500

2025-Mar-05
Listed
$2,489,500

[carsncars]

Well, news from my buyers is that they are having difficulty selling their current home and they may request an extension to the closing date. Interesting that they bought my home without condition to sale of their property but are presumably depending on that equity... that would cause a lot of anxiety if I were in their shoes.

In any case, they will cover carrying costs (interest, insurance, tax, and utilities) for the extension.

Any experience with this before? I'm inclined to give a specific but not indefinite extension. Do I need to talk to a real estate lawyer now, or wait on it a bit?

[blkgsr]

well if they walk they lose their deposit so consider that...then i think you can also go after them for what ever the difference is to the new buyer assuming the new deal is lower.

[carsncars]

Originally Posted by blkgsr

well if they walk they lose their deposit so consider that...then i think you can also go after them for what ever the difference is to the new buyer assuming the new deal is lower.

Yeah, I do get the sense that they're proceeding in good faith so I'm inclined to give them another 8 weeks or so if it means the deal can complete, as it seems like a hassle to re-list.

[Hondaracer]

Originally Posted by carsncars

Well, news from my buyers is that they are having difficulty selling their current home and they may request an extension to the closing date. Interesting that they bought my home without condition to sale of their property but are presumably depending on that equity... that would cause a lot of anxiety if I were in their shoes.

In any case, they will cover carrying costs (interest, insurance, tax, and utilities) for the extension.

Any experience with this before? I'm inclined to give a specific but not indefinite extension. Do I need to talk to a real estate lawyer now, or wait on it a bit?

If the deal is closed and they had no subject to sale on their property are you obligated to do anything?

[Eff-1]

Originally Posted by carsncars

Well, news from my buyers is that they are having difficulty selling their current home and they may request an extension to the closing date. Interesting that they bought my home without condition to sale of their property but are presumably depending on that equity... that would cause a lot of anxiety if I were in their shoes.

In any case, they will cover carrying costs (interest, insurance, tax, and utilities) for the extension.

Any experience with this before? I'm inclined to give a specific but not indefinite extension. Do I need to talk to a real estate lawyer now, or wait on it a bit?

If you lose this buyer, you might keep their deposit, but then you're stuck finding a new buyer in a cold market. If the extension doesn't cause you any undue hardship, I'd consider giving them that flexibility. Better one bird in the hand, than ten in the air.

[carsncars]

Originally Posted by Hondaracer

If the deal is closed and they had no subject to sale on their property are you obligated to do anything?

Theoretically no. But relisting would be a PITA so if a slight extension is what it takes I'm leaning towards extending.

Originally Posted by Eff-1

If you lose this buyer, you might keep their deposit, but then you're stuck finding a new buyer in a cold market. If the extension doesn't cause you any undue hardship, I'd consider giving them that flexibility. Better one bird in the hand, than ten in the air.

Luckily we already closed on our new home and it wasn't dependent on the equity from the old home. Thankful for that now. We did put part of the debt on the HELOC instead of the fixed mortgage portion expecting to pay it off once this sale closes, so with the extension my realtor is asking for the extra interest to be covered for the duration.

[Gerbs]

Damn, who are the buyers for a $2M+ in Fort Langley lol

[JDMDreams]

You can buy those houses all day everyday in Victoria. I rather Victoria than fort Langley

[Hondaracer]

In 2016 the old company I used to work for built 3 custom homes right beside the fort Langley fire hall, all 3 were built in 2016, I believe at the time each one sold for about 1 million.. fast forward now looking at E-assessment…

9120 Edal St - assessed at 2.4

9128 Edal St - assessed at 2.62

23123 96TH AVE - assessed at 2.35

More than doubled in less than 10 years.

[6793026]

Originally Posted by supafamous

Spent yesterday afternoon in Fort Langley and it's a cute little town - it was full of people (presumably getting out for BC Day) and I couldn't help feel like it's some quaint southern town with all the tree cover and traditional looking houses.

But holy hell the pricing of homes there is nuts.

https://www.rew.ca/properties/23208-...nue-langley-bc - $2.2m for 2200sf!
https://www.rew.ca/properties/23128-...nue-langley-bc - $2.1m for 2900sf (better)
https://www.rew.ca/properties/206-23...nue-langley-bc - $1.1m for 1050sf!

that's the thing about langley, that central area is great, but doesnt' justify he price. What's funny is just a 10 min drive and you're in antoher town and prices changes significantly.

Now 10 min drive Van is already Bby. 10 min Richmond versus N / W Van 10 mins is another municaplity hence pricing is so strong, i can't see people in Langley landing at those prices.

[Tapioca]

I can totally see the appeal of Fort Langley for certain people who want a certain aesthetic/lifestyle and don't want the diversity that other parts of Langley/Surrey have.

Being remote is part of the charm and it's guaranteed to keep certain types of people out.

It's kind of like the Anmore of the south of the Fraser.

[Hondaracer]

Originally Posted by Tapioca

I can totally see the appeal of Fort Langley for certain people who want a certain anesthetic/lifestyle and don't want the diversity that other parts of Langley/Surrey have.

Being remote is part of the charm and it's guaranteed to keep certain types of people out.

It’s for yuppies who aren’t quite cool enough for mount pleasant.

[bcrdukes]

Paging whitev70r for his comment

[JDMDreams]

Show me how you can get from Van to Burnaby, or Van to Richmond in 10 min. It took me two hours round trip at random ass 7 pm to 9 pm on Tuesday to go from Burnaby to North Van and back.

[westopher]

Took me 13 minutes to get to work downtown from North van today. Took 20ish to get home yesterday.

[Hondaracer]

Originally Posted by JDMDreams

Show me how you can get from Van to Burnaby, or Van to Richmond in 10 min. It took me two hours round trip at random ass 7 pm to 9 pm on Tuesday to go from Burnaby to North Van and back.

From one side of boundary to the other, 1 minute

I win

[whitev70r]

Originally Posted by westopher

Took me 13 minutes to get to work downtown from North van today. Took 20ish to get home yesterday.

What time do you start? 6:00 am? And get off at 2:00 pm?

[whitev70r]

Originally Posted by bcrdukes

Paging whitev70r for his comment

I'd love me a retirement home in Fort Langley with all the retired white folks. Fort Langley is way too far to Richmond restaurants for Asians. I'd have to find a temp home in July and August though to avoid the bunch of tourists.