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06-14-2017, 07:26 PM
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#10001 | | RS has made me the bitter person i am today!
Join Date: Apr 2001
Posts: 4,969
Thanked 2,463 Times in 1,127 Posts
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Originally Posted by Sw0op  this guy is such a noob you can tell by the way he talks about the markets. Even as a realtor you should know its about the comps not about the asking price. If it goes that much over ask, you know its priced well below market. He also goes by charts and graphs which are one thing but as a realtor, you should also factor in the demand and foot traffic in open houses too. Man i would hate to be one of his clients.. | Rumour has it that he's never actually sold a property.
He gets a lot of press because he's someone who's willing to feed into bubble narrative. He probably gets a lot of hits on his blog, but do they pay the bills? Eventually he's got to eat and keep his realtor license.
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06-14-2017, 07:46 PM
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#10002 | | Need to Seek Professional Help
Join Date: Mar 2003 Location: Vancouver
Posts: 1,091
Thanked 164 Times in 83 Posts
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Originally Posted by Tapioca Rumour has it that he's never actually sold a property.
He gets a lot of press because he's someone who's willing to feed into bubble narrative. He probably gets a lot of hits on his blog, but do they pay the bills? Eventually he's got to eat and keep his realtor license. | Really? would make sense...ive wondered myself before if he's actually a realtor because ive never seen a listing from him..then i saw one and saw the price...figured no way he'd sell that.....
gotta give it to him he puts his face out there but man...he says hes got no directive in his clips and press but you can tell by the tone and angle he takes...feel bad for his followers listening to him...
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06-16-2017, 01:49 PM
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#10003 | | I *heart* Revscene.net very Muchie
Join Date: Apr 2001 Location: Van, BC
Posts: 3,666
Thanked 728 Times in 435 Posts
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He's marketing to the masses and those that follow headlines. 95% of the mass would probably do well to read a few pages of this thread, but such is #VanRE
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06-18-2017, 02:58 PM
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#10004 | | I don't get it
Join Date: Feb 2016
Posts: 400
Thanked 180 Times in 70 Posts
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Anyone here familiar with Commercial real estate?
We all know that no subject offers are the way to go with residential.
Is this the same with commercial? Have a perspective buyer that wants to deposit in 90 days but complete in 2 years.... I know I wont be able to buy back into the same area in 2 years for that amount....
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06-18-2017, 05:58 PM
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#10005 | | Banned (BBM)
Join Date: Sep 2009 Location: None
Posts: 3,115
Thanked 656 Times in 259 Posts
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^What question do you have?
I work as a Commercial ICI Appraiser. No subject offers are getting popular amongst investors that want to purchase holding properties for future redevelopments...
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06-18-2017, 07:31 PM
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#10006 | | I don't get it
Join Date: Feb 2016
Posts: 400
Thanked 180 Times in 70 Posts
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I have a care home builder group interested in my property (zoning allows this) but they are from out east and probally dont realize that 2 year closure dates dont fly in vancouver.
Would you say half your commercial properties are no subject? Or less? Quote:
Originally Posted by G ^What question do you have?
I work as a Commercial ICI Appraiser. No subject offers are getting popular amongst investors that want to purchase holding properties for future redevelopments... | | |
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06-18-2017, 11:02 PM
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#10007 | | Banned (BBM)
Join Date: Sep 2009 Location: None
Posts: 3,115
Thanked 656 Times in 259 Posts
| Quote:
Originally Posted by Digitalis I have a care home builder group interested in my property (zoning allows this) but they are from out east and probally dont realize that 2 year closure dates dont fly in vancouver.
Would you say half your commercial properties are no subject? Or less? | Depends on what type of property and where tbh
I still see lots of subjects in lots of contracts.
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06-19-2017, 10:20 AM
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#10008 | | RS has made me the bitter person i am today!
Join Date: Apr 2001
Posts: 4,969
Thanked 2,463 Times in 1,127 Posts
| https://www.bcbusiness.ca/How-the-re...hey-really-are
An interesting article about the struggles of the cash rich and house poor in BC. There are some interesting tables about where the high-income, asset, and pension rich are in the province also.
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06-19-2017, 10:49 AM
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#10009 | | My homepage has been set to RS
Join Date: Mar 2004 Location: East Van
Posts: 2,128
Thanked 830 Times in 408 Posts
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That article definitely hits home for my fiancee and I. Ton's of liquid cash and investments, but no real estate appreciating at 25% year-over-year....
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06-19-2017, 11:17 AM
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#10010 | | Need to Seek Professional Help
Join Date: Jan 2005 Location: Van
Posts: 1,027
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Sorry but the couples in this article have no right to complain.
They have household incomes into the 100k's and cash savings multiple times their income. Their furnishings are so modest that they could liquidate their entire household for 10k (meaning they spent 20-30k easy). They would have to liquidate a huge amount of their investment savings to purchase a house.
You can't have your cake and eat it too. The sense of entitlement is mind blowing.
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06-19-2017, 11:58 AM
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#10011 | | RS has made me the bitter person i am today!
Join Date: Apr 2001
Posts: 4,969
Thanked 2,463 Times in 1,127 Posts
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I wonder what was on the mind of the one couple who sold their condo and now rent? If they wanted to keep skin in the game, they should have traded up or converted that condo into a rental. Diversification includes real estate.
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06-19-2017, 12:02 PM
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#10012 | | Willing to sell body for a few minutes on RS
Join Date: Jul 2001 Location: Cloverdale
Posts: 11,534
Thanked 3,731 Times in 1,322 Posts
| Quote:
Originally Posted by Tapioca I wonder what was on the mind of the one couple who sold their condo and now rent? If they wanted to keep skin in the game, they should have traded up or converted that condo into a rental. Diversification includes real estate. | At the time I'm sure they thought they were getting out at the peak, all the doomsayers have been saying the bottom is going to fall out and the market is going to crash for the last 10+ years. It still may but damm would it suck if you took that advice and liquidated years ago waiting to snap up some cheap property once it happened.
__________________
The world ain't all sunshine and rainbows. It's a very mean and nasty place... and I donīt care how tough you are, it will beat you to your knees and keep you there permanently, if you let it. You, me or nobody, is gonna hit as hard as life. But ain't about how hard you hit... It's about how hard you can get hit, and keep moving forward... how much you can take, and keep moving forward. Thatīs how winning is done. Now, if you know what you worth, go out and get what you worth. - Rocky Balboa | |
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06-19-2017, 12:05 PM
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#10013 | | RS.net, where our google ads make absolutely no sense!
Join Date: Sep 2008 Location: Rmd
Posts: 924
Thanked 435 Times in 194 Posts
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Nice article. I didn't detect entitlement, I think it's just natural frustration from people that earn decent money and still can't afford to buy anything.
My parents are still in the same house they bought in the 90s. They are definitely house-rich, cash poor. They will make multiples more selling their house than all the RRSPs they've tried to save up over the last 30+ years.
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06-19-2017, 12:12 PM
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#10014 | | RS controls my life!
Join Date: Apr 2004 Location: Vancouver
Posts: 721
Thanked 235 Times in 92 Posts
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Great article - I think anyone in their late 20-30's can easily relate as house/condo prices in Vancouver is very high given local incomes.
Those that got detached 3-4 years ago are up $500K and basically more than your RRSP saver's growth. While there isn't entitlement per se, the investment analysis certainly feels a bit jaded average Joe who lucked out on presales/house purchases is beating his 10%+ avg return on S&P and Index funds.
Presales continue the barrage - Clark/Como sold out at nearly $800/ft for Burquitlam.
Onni has a new deal in Port Moody and it should do well. $750/ft starting - The Grande.
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06-19-2017, 12:16 PM
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#10015 | | RS has made me the bitter person i am today!
Join Date: Apr 2001
Posts: 4,969
Thanked 2,463 Times in 1,127 Posts
| Quote:
Originally Posted by JDMStyo
Presales continue the barrage - Clark/Como sold out at nearly $800/ft for Burquitlam.
Onni has a new deal in Port Moody and it should do well. $750/ft starting - The Grande.
| But, it's Onni (I kid, I kid).
That's a decent price for arguably a better community than Burquitlam. Burquitlam is full of Middle Eastern refugees, while Suterbrook is full of strollers and dads with beards.
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06-19-2017, 12:50 PM
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#10016 | | RS.net, helping ugly ppl have sex since 2001
Join Date: Oct 2005 Location: Revscene
Posts: 9,285
Thanked 7,174 Times in 2,407 Posts
| Quote:
Originally Posted by Tapioca | Quote:
Originally Posted by Liquid_o2 That article definitely hits home for my fiancee and I. Ton's of liquid cash and investments, but no real estate appreciating at 25% year-over-year.... | What happened to the virtues of 'rent and invest the difference' that's been harped over and over again in this thread with links to Garth Turner (full disclosure: I was one of them)? Aren't these people in an 'ideal' situation while sucker homeowners (full disclosure: I am now one of them) have their cash locked away in real estate with these imaginary 'unrealized gains' from the market?
__________________ Quote:
Originally Posted by skyxx Sonick is a genius. I won't go into detail what's so great about his post. But it's damn good! | 2010 Toyota Rav4 Limited V6 - Wifey's Daily Driver
2009 BMW 128i - Daily Driver
2007 Toyota Rav4 Sport V6 - Sold
1999 Mazda Miata - Sold
2003 Mazda Protege5 - Sold
1987 BMW 325is - Sold
1990 Mazda Miata - Sold 100% Buy and Sell Feedback | |
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06-19-2017, 12:57 PM
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#10017 | | RS has made me the bitter person i am today!
Join Date: Apr 2001
Posts: 4,969
Thanked 2,463 Times in 1,127 Posts
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Originally Posted by sonick What happened to the virtues of 'rent and invest the difference' that's been harped over and over again in this thread with links to Garth Turner (full disclosure: I was one of them)? Aren't these people in an 'ideal' situation while sucker homeowners (full disclosure: I am now one of them) have their cash locked away in real estate with these imaginary 'unrealized gains' from the market? | They shacked up with a woman and had kids.  | |
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06-19-2017, 01:08 PM
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#10018 | | RS.net, helping ugly ppl have sex since 2001
Join Date: Oct 2005 Location: Revscene
Posts: 9,285
Thanked 7,174 Times in 2,407 Posts
| Quote:
Originally Posted by Tapioca They shacked up with a woman and had kids. | Ain't that the truth (full disclosure: that is what happened to me.)
__________________ Quote:
Originally Posted by skyxx Sonick is a genius. I won't go into detail what's so great about his post. But it's damn good! | 2010 Toyota Rav4 Limited V6 - Wifey's Daily Driver
2009 BMW 128i - Daily Driver
2007 Toyota Rav4 Sport V6 - Sold
1999 Mazda Miata - Sold
2003 Mazda Protege5 - Sold
1987 BMW 325is - Sold
1990 Mazda Miata - Sold 100% Buy and Sell Feedback | |
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06-19-2017, 01:36 PM
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#10019 | | I subscribe to Revscene
Join Date: Jun 2006 Location: Vancouver
Posts: 1,908
Thanked 842 Times in 364 Posts
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Originally Posted by sonick Aren't these people in an 'ideal' situation while sucker homeowners (full disclosure: I am now one of them) have their cash locked away in real estate with these imaginary 'unrealized gains' from the market? | i guess the argument here would be that in today's market, housing is almost considered a liquid asset (if said sucker homeowners ever decide to cash out with potentially bigger gains vs john smith's RRSP). so if someone has bought into the market in the last 2-3 years, the option of walking away with 30-50% gains on a whim has some value to it imo.
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06-19-2017, 01:53 PM
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#10020 | | RS controls my life!
Join Date: Apr 2004 Location: Vancouver
Posts: 721
Thanked 235 Times in 92 Posts
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Similar article covering both Toronto & Vancouver. Praying for a real estate crash - Macleans.ca
Like it or not, people will compare themselves against their friends and peers. Keeping up with Joneses is more prevalent and more pervasive now especially with IG, FB, various social media platforms.
However, if it all crashes, where do you think government is going to keep getting tax dollars they're so used to with inflated property prices? All the higher construction and R/E related gigs (notaries, lawyers, appraisers, Red Seal trades) all drops a notch too. Scary thought but it's a self propagating sector propped up by continually low credit and low supply.
Full disclosure: Own property (sucker too and likely trading up). In the R/E as an insider if you call it that (licensed and invests)
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06-19-2017, 04:02 PM
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#10021 | | I don't get it
Join Date: Aug 2015 Location: Main & Hastings
Posts: 449
Thanked 475 Times in 153 Posts
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this is insane... $1,628/sqft @ Joyce http://i.imgur.com/nbsX9vS.jpg | 
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06-19-2017, 04:29 PM
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#10022 | | 14 dolla balla aint got nothing on me!
Join Date: May 2013 Location: Richmond
Posts: 619
Thanked 676 Times in 228 Posts
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Originally Posted by ssjGoku69 | Do you know if they started presale yet?
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06-19-2017, 04:30 PM
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#10023 | | RS.net, helping ugly ppl have sex since 2001
Join Date: Oct 2005 Location: Revscene
Posts: 9,285
Thanked 7,174 Times in 2,407 Posts
| Quote:
Originally Posted by dat_steve i guess the argument here would be that in today's market, housing is almost considered a liquid asset (if said sucker homeowners ever decide to cash out with potentially bigger gains vs john smith's RRSP). so if someone has bought into the market in the last 2-3 years, the option of walking away with 30-50% gains on a whim has some value to it imo. | Hmm about the same timeline that 4444 went silent in this thread?
__________________ Quote:
Originally Posted by skyxx Sonick is a genius. I won't go into detail what's so great about his post. But it's damn good! | 2010 Toyota Rav4 Limited V6 - Wifey's Daily Driver
2009 BMW 128i - Daily Driver
2007 Toyota Rav4 Sport V6 - Sold
1999 Mazda Miata - Sold
2003 Mazda Protege5 - Sold
1987 BMW 325is - Sold
1990 Mazda Miata - Sold 100% Buy and Sell Feedback | |
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06-19-2017, 05:53 PM
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#10024 | | I have named my kids VIC and VLS
Join Date: Oct 2001
Posts: 36,448
Thanked 14,325 Times in 5,641 Posts
| Quote:
Originally Posted by quasi At the time I'm sure they thought they were getting out at the peak, all the doomsayers have been saying the bottom is going to fall out and the market is going to crash for the last 10+ years. It still may but damm would it suck if you took that advice and liquidated years ago waiting to snap up some cheap property once it happened. | Know a few families who thought they were predicting the end of the world and sold 4/5 years ago. Now those people are honestly fucked for retirement and lost out on over 400,000k+ of liquidity they could have had.
Sold their places around 640k, have been renting for $2000+ a month in wayyyy shittier areas and the house they rent now is worth 1mill+ and their old house is 1.2-1.3
No matter what your financial situation is in these cases, imo you fucked up royally and it's altered your well being and life going forward.
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Dank memes cant melt steel beams
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06-19-2017, 06:26 PM
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#10025 | | Willing to sell body for a few minutes on RS
Join Date: Jul 2001 Location: Cloverdale
Posts: 11,534
Thanked 3,731 Times in 1,322 Posts
| Quote:
Originally Posted by Hondaracer Know a few families who thought they were predicting the end of the world and sold 4/5 years ago. Now those people are honestly fucked for retirement and lost out on over 400,000k+ of liquidity they could have had.
Sold their places around 640k, have been renting for $2000+ a month in wayyyy shittier areas and the house they rent now is worth 1mill+ and their old house is 1.2-1.3
No matter what your financial situation is in these cases, imo you fucked up royally and it's altered your well being and life going forward. | Yeah my parents sold there house in Surrey for 745K 5 years ago, probably worth 1.3+ today. The house they built in Sask isn't even worth what they have in it, I haven't told tell them because they'll be pissed.
__________________
The world ain't all sunshine and rainbows. It's a very mean and nasty place... and I donīt care how tough you are, it will beat you to your knees and keep you there permanently, if you let it. You, me or nobody, is gonna hit as hard as life. But ain't about how hard you hit... It's about how hard you can get hit, and keep moving forward... how much you can take, and keep moving forward. Thatīs how winning is done. Now, if you know what you worth, go out and get what you worth. - Rocky Balboa | |
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