I'd be surprised to hear if the conditions still allow for that people on kinged and oak are getting barely about assessed value last I heard.

I'm actually working on a land assembly around that area, and the owners are getting slightly less than 3x assessed. I'm definitely interested in watching to see if people will still be getting that IF the market decides to continue to slow as development has definitely slowed a bit.

you'd be insane not to take 3X assessed, i dont care if your great great grandfather was born in the shed lol

Yeah, you've basically hit the RE jackpot on that one. Sell it at 3x assessed value, move into a condo, and enjoy life with the rest of it

https://cdn.theatlantic.com/assets/m...jpg?1429034995

I said NO!

You could get back into another detached even and still sit pretty for retirement with zero savings prior

situations change
people get divorced

Ugh. Every one of your posts reads like this.

If she actually gets divorced she should be getting child assistance from her ex husband and from the gov as well (from the sound of things she seems like she is consider low income) plus a father who is disable. Just from gov assistance alone is at least 4k a month. More than what a lot of people make in this city. Not to mention with her situation she most likely get rent assistance from the gov as well. Not much but still is worth something.

Here's a weird one for you guys... my friend live in a townhouse complex, old style with carports... so she bought a little GMC Sonoma... older one extended cab with short bed it's maybe the size of a Camry... didn't think anything of it... she parks it in her carport... get a letter from her strata saying they have a clause that no pickup trucks are allowed in the complex????

Has anyone ever heard of such a thing? It seems absolutely ridiculous to me. She's trying to figure out if there's any way to fight it.

If strata has a clause on it, I don't think there is very much your friend can do other than park it on the nearby street. But I'd at least force the strata's hand into producing the said clause among its bylaws first to make sure they aren't making shxt up.

In a sense, I can sort of understand where the strata might be coming from -- if the vehicle has any part that is sticking beyond the car port, that could be argued as the vehicle trespassing and occupying strata common property. But something like that shouldn't be limited to trucks -- it should apply to any vehicle that sticks out beyond the car port.

Strata bylaws can also be super ridiculous at times. Saw in the news a few weeks ago that a strata corp in Chemainus (on the Island) actually voted (and passed!) a bylaw that bans bike riding and chalk drawings in the neighbourhood streets.

https://www.cbc.ca/news/canada/briti...play-1.4735653

Seriously WTF?! What did the strata expect children to do in their free time / play time???

On a different note, I was chatting with a friend who works as a notary. Much to my surprise, he was telling me that he has been swamped at work lately doing real estate transactions, with most of them being apartments / condos, a much smaller number in townhouses, and very few detached homes.

So from his POV, he doesn't think the RE market is cooling at all. It's just that the vast majority of the action is happening with apartments and condos.

Because that's what people afford now. Most of them are also one bedroom or one bedroom plus den. 2bedroom apartment have been sitting in the market longer or not getting sold at all. During my search right now for a 2 bedroom some of the less desirable units have had multiple price reduction and is still in the market. Most of these are either tenanted out (Basically it needs a major reno), facing bad directions or the layout is just weird.

Location plays a factor also. Before you can sell even if the area sucks. Now people actually think about the location.

If anyone is buying now I would advise NOT buying anything that face west (NW and W being the worse) especially if the apartment you are looking at is lower than 20th floor. Simply is too hot and you will regret it.

It's fine if you have central ac :fuckyea:

Until you get your hydro bill LUL

I have it and is awesome but still not as good as when the direction is good.

If it is central air is included in your strata fee.

I think the fan motor is still wired to your circuit :lol

On that notary issue, maybe your friend is the cheapest notary in town and everyone is flocking there :lawl:

Isn't that just basic knowledge for any home buyers? Of course, it is a much bigger problem for apartment units since the the windows are more likely to only face one direction, while townhouses and detached will generally have windows in at least 2 opposing directions (if not more).

East, west, north, south... each direction brings unique characteristics to the home. West facing (esp apartments) are the least desirable, while south facing is generally the most desirable.

Could be. Or maybe he has a good reputation. ;)

But the point he, as far as he is concerned, he doesn't think there is very much of a slow down in the market. Properties are still moving; it's just the type that changes because as HappySilp has pointed out, apartments and condos are what people can afford.

On a related note - notaries > lawyers for real estate deals. I know there's a few on RS but I was surprised to hear in BC there's only about 200 notaries and over 10,000+ lawyers.

Why pay $1,500+ when you can do it for under $1K for notaries?

Also worth mentioning is (but this is hardly surprising) -- not all notaries are the same. Some are more thorough than others, and some are more crooked than others as well. You wanna work with one that has a good reputation.

Nothing below $350K right now, still not bad for the area, though needs LRT or some sort of Skytrain system. Won't be in 5-7 years though.

Presales UPDATE July 2018

Brentwood
Gilmore PlaceAfter 4 months of marketing, finally told I got my client's allocations for Gilmore Place. ONNI.
$1000/ft, 1% assignment fee
Tower 1 & 3 all allocated I'm told.

Burquiltlam/Coquitlam
City of Lougheed 2 is starting VIP this week. $1000/ft.
$569,000 for 1BR 570FT.
Tower 2 of 20...+? Wonder what pricing will be like for Tower 10+ PogChamp

You have no idea how many buy into facing West. Went to see an open last week literally the living room and one of the bedroom is facing west. Is so hot even even with the A/C on (landlord have a portable A/C) and I am still sweating inside. There are some people who think they can bear the heat while saving a few thousand dollars. My mom's friend brought in an corner unit NW coz the price is 10k cheaper. Well now during summer is too hot to be inside so they go to the mall or other friend place in the afternoon coz is way too hot. And in winter is super cold. So is pretty bad. I rather have little to no view and get an apartment facing East or South then West with a nice view.

Our condo is south facing, but the balcony overhang blocks the direct sunlight from getting into the unit. So we get all the benefits of the brightness of south facing, without the negatives. The place gets warm being in a lowrise with no AC, but not too bad.

South-east facing baby! :victory:

sure beats the summertime heat in the North-west facing condo we used to live in