Are your low raise or high raise? Coz high raise around metrotown is around $1200/sq ft for a one bedroom. low raise I am not sure but I would image it would be around $100sq ft for wood frame

I mean you could always sell your place and find a short term rental while you are searching. Or you used to be able to do that but NDP decided to kill off AirBnB and short terms in favor or long term rental.

If your listing has been on the market for a month + and have had multiple open houses without a sale, imo you’re in a position of weakness at that point.

At least that’s how I felt selling our place

going to be list my townhouse soon hopefully the market isn't too slow and we can sell our place and get out of this rat race!

Goodluck! Where's your townhome located? Moving to a detached I'm guessing?

^thanks my dude! located in Langley, trying to sell our place and move to west Kelowna to a detached house. Would be more central for us with wife's parents living in abby/chiliwack and my parents living in the kootneys. It would be easier for us for both of them to come and see us and vice versa. Plus with baby number 2 on the way would need something with a back yard that doesn't cost us 800k for a piece of shit detached house here lol

I wish more stratas are like this in terms of staying on top of things, but it isn't just a matter of the strata council. A good chunk of the reponsibilities fall on the residents as well.

In my rental apartment, they have some good people with good intentions for the building on the strata council (except for one elderly lady, but I digress), but their execution sometimes fall a bit short of their well-intentioned plans. And then we have residents who continue to make decisions that baffles me to no end.

In the most recent case, the strata corp has run into a deficit situation due to a higher than expected number of incidents happening last year. So OK, there is a deficit, and by provincial law, you have to deal with it within the following (fiscal) year. With a deficit like that, you either take money out from the contingency fund to cover it, or you raise a special levy to pay for it. Either way, it needs to be taken care of.

According to the financial statements, the contingency fund seems to be at an average level. As to the deficit, I don't remember the actual amount, but for my unit (which is one of the larger ones in the building), it worked out to be ~$300. IMO, $300 isn't pocket change, but it isn't a huge sum either. So the sensible thing to me is, just pay the special levy and move on. But in the infinite wisdom of the residents, the motion to pass the special levy was voted down. Council made it clear during the AGM that the deficit has to be settled one way or another, and made some good arguments against using the contingency fund for this. But no -- the motion was narrowly voted down, with something like a 55/45 split. FailFish

I can go on about other stories as well, but I need to run now, so I'll save those for later.

This pretty much applies to selling anything really.

i wish there was a POS detached house for 800k in the LML lol!

https://www.rew.ca/properties/R22834...erty_click=map

$499k

61*125 lot

Wow... ask and ye shall receive I guess :fullofwin:

I was thinking more along the lines, careful what you wish for.

notbad

Nice detached! Everything needs to get detached haha. It's a court order sale too so it could go way lower or way higher than that. Hmmmm

So... How's the pre-sale market? Still worth jumping into?

^
Yes. Just do it... because RS said so.

Pre sale is getting very expensive. I would say all developers is pricing their pre sale at the future price. say if X project is to be completed in 2021 that's the price they will price it now. Since the market have been going up for the past few years developers have been pricing their pre sale with this upward trend.

However market is slowing and price have drop a bit. So when it comes to completetion the market might drop a lot already. I would say now is not a really good time to buy pre sale since price is way too high.

The thing with buying somthing off Craigslist etc is that you continually get new people coming and going there. Your ad gets bumped, it catches a new persons eye, they are no wiser that you’ve been selling it for an extended period of time

Someone looking in the area/building your selling in is usually pretty keen on keeping their eyes open to listings and when their realtor sees you’ve had a few open houses and the listing is 60 days old that’s when you start getting the low ball/under asking offers. If you’re in a state where you have pressure to sell, it’s a shitty place to be.

Only thing you can do really is make sure your unit is the best example for sale, then at least you have that leverage in negotiations

Vancouver Home Sales For The Month of July At An 18 Year Low. This Is For All Property Types.

Danger will pre-sales is you're still buying high and who knows how high rates will go, what mortgage rules will change and what NDP foreign buyer tactics will pop up next year. Also biggest concern for me is what happens to all the people who bought pre-sales and can't qualify for a mortgage who will flood the market with assignments. This will put further downward pressure on prices.

Personally I'm sitting on the sidelines and waiting until next Spring to see where the RE market is heading. Right now a lot of people haven't received the memo and prices don't reflect the current state of the market. It'll take a few months for reality to set in.

^^ people have to remember some people like me who purchase pre sale between 2013 to 2016 we have it a very very very good price. Even if the market were to drop 20% we will have money. But for now is not a good deal. I just heard Brentwood Concord is 680k + for a one bedroom. That's around $1346+ per sq ft. That's a lot! I think when I got mine it was around $590 per sq ft. Price is double lol.

no one thought it was a "good" deal when you bought either though

Pre-sales were never cheap and the same "keep waiting" was said back then too.

You cant predict the future or time the market. Just get in and worry about the consequences after.

I know a few people that bought into the Wall Centre Central Park and have easily doubled their money after selling. WCCP was a great buy for both investment and living.

Hopefully the people who made money flipping WCCP paid taxes because the CRA announced last week they're probing WCCP, Trump Tower and the Tempo project in Richmond. This is another reason the presale market will cool down.

Im saying presales was always overpriced. Luckily the market kept rising rapidly where you made out like a bandit.