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10-15-2018, 09:33 PM
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#13401 | | RS controls my life!
Join Date: Apr 2004 Location: Vancouver
Posts: 721
Thanked 235 Times in 92 Posts
| Quote:
Originally Posted by ShanghaiKid  Amazing Brentwood
I've been following Brentwood for a long time, ever since I purchased in 2014. After 3 amendments it's finally nearing completion, and buyers are slated to take ownership some time in Q2 2019. One aspect that Shape properties, the developer, has remained silent on is major tenants for the mall expansion. For a while a lot of people were fearful that they couldn't find enough attention-drawing storefronts to own up to their "luxury/upscale shopping experience" marketing. | Good summary and project update. I'm excited for owners and know of clients still looking to buy assignment sales on the CHEAP (for sellers that can't mortgage for whatever reason) as they are unlisted and hard to find outside of MLS.
Did some assignments early in Amazing Brentwood around January. I remember reading contracts from 2014 and 1BR being $290K and 2BR being $420K range. Lifts were huge - sellers were profiting $300K lift. The baller buyers with cash can pay $370K-450K cash, most buyers staggered deposit + lift with some due at completion.
Outside Envelope date had to be extended as no buyer in right mind will want their original money back after 3 years.
As a residential developer - SHAPE has honestly lost faith from many of their buyers with delays on Amazing and COL. City of Lougheed has yet to even take payment #2 on Tower 1 (out of 20+). Tower 2 seems to be off to a rocky start with the worst timing of it all - grand opening late Oct into a slower R/E market.
The actual location itself though - since SHAPE does own Brentwood Mall - it's exciting to see massive district scale vision being put in place - something only a large commercial developer can pull off. It's great to see the Catterton (LVMH) partnership - but you have to be realistic if Brentwood can support a Holt Renfrew like prescence - most luxury malls are there to be SEEN and provide anchor for branding globally, not for profits I feel. Regardless - it's a boost for anyone living around Brentwood - and there's certainly no shortage of new towers in the area.
Quality remains to be seen - but I imagine if they put the same trades and quality of care as they do on commercial/residential side it should be pretty decent. Can't say that about certain EI developer that just completed on Gilley/Kingsway and has 4 towers around Brentwood....  | 
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10-17-2018, 04:20 PM
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#13402 | | Proud to be called a RS Regular!
Join Date: Feb 2016
Posts: 121
Thanked 64 Times in 20 Posts
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Shameless plug....but my company is running a small workshop this Saturday afternoon on the topic of First Time Home Buyer.
Some of the content we will cover include such as
- how to save for the same downpayment using half the time
- why the lowest interest mortgage may not be the best mortgage
- besides downpayment + mortgage, the 3rd important element that can end up making their mortgage life very uncomfortable
- how to tell if our mortgage is good debt or bad debt
This is a small, private session that is info only and usually for friends & friends only. I have a few last remaining spots available for this Saturday. PM me if you're interested in knowing more.
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10-18-2018, 07:05 AM
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#13403 | | 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 SFU_wmc Shameless plug....but my company is running a small workshop this Saturday afternoon on the topic of First Time Home Buyer.
Some of the content we will cover include such as
- how to save for the same downpayment using half the time
- why the lowest interest mortgage may not be the best mortgage
- besides downpayment + mortgage, the 3rd important element that can end up making their mortgage life very uncomfortable
- how to tell if our mortgage is good debt or bad debt
This is a small, private session that is info only and usually for friends & friends only. I have a few last remaining spots available for this Saturday. PM me if you're interested in knowing more. | I'm probably just a cynical prick but
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“The world ain't all sunshine and rainbows. It's a very mean and nasty place... and I don´t 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. That´s how winning is done. Now, if you know what you worth, go out and get what you worth.” - Rocky Balboa | |
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10-18-2018, 07:21 AM
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#13404 | | Old School RS
Join Date: May 2004 Location: Port Moody
Posts: 4,563
Thanked 3,960 Times in 1,208 Posts
| Quote:
Originally Posted by quasi I'm probably just a cynical prick but | No kidding - sounds like a clickbait article written for society’s least educated. Like what is the magic bullet to allow me to save twice as much in the same period of time that isn’t just “save twice as much each month” lol? Does not compute...
Mark
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I'm old now - boring street cars and sweet race cars. | 
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10-18-2018, 08:56 AM
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#13405 | | I STILL don't get it
Join Date: Aug 2015 Location: Main & Hastings
Posts: 450
Thanked 475 Times in 153 Posts
| Quote:
Originally Posted by Manic! It's called Costco Wholesale for a reason. Why would a business want to limit the amount of money a customer gives them? | Spot on! The whole concept of Costco upon inception was to sell stuff to businesses. These people re-selling Costco products to China or their own local shop is right in the spirit of Costco's original vision. But understandably, modern day Costco caters to a lot of individual consumers so the original sentiment is understandable.
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10-21-2018, 02:20 PM
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#13406 | | I bringith the lowerballerith
Join Date: Mar 2002 Location: Vancouver
Posts: 1,103
Thanked 107 Times in 60 Posts
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Originally Posted by R1CED` obviously there are issues with this practice and the lack of accountability and shifting blame is rather jarring...if I try to pull this shit in my industry 'well I mean it was already shitty job in the first place, so i'm still gonna do the work fully knowing it's gonna be craptastic anyways instead of raising the problems' and I would be out of a job by the end of the day
think about it...car companies can roll out hundreds of vehicles daily, sourcing parts from all over the world. Yet they need to work within a tight tolerance. So if ppl give Tesla flack for awful gaps then surely it's warranted here
there needs to be a QC team that oversees the contracted work, maybe not feasible at every stage but after every couple of stages into the build
there also needs to be a regulation where if you constantly being reported for shitty work, your future build permits will not be issued until you put in some attention into addressing concerns with completed projects
if people are paying 200k for an apartment, fine whatever you can try to argue 'get what you pay for' but that's not the case anymore...most are stretched thin and paying through the nose and still having to deal with years and years of delay, the end user deserves better and the developer knows this but would rather you go through many hoops before attempting an ongoing 'resolution' | The QC is more or less "deficiency work" or warranty claims.
Unfortunately each city (municipal) knows there is to much money to be made in permit fees, DCL's, DCCs in order to ban/withour permits for builders.
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ATTACK
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10-21-2018, 05:33 PM
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#13407 | | To me, there is the Internet and there is RS
Join Date: Apr 2004 Location: Nanaimo
Posts: 16,020
Thanked 7,386 Times in 3,466 Posts
| Quote:
Originally Posted by Mr.HappySilp Oh I don't know coz maybe coz one else can buy. Literally these people would camp right in the morning and if they need to buy something say a specific type of chocolate. They would go in and buy literally every single one of them. No one else gets a chance to buy them till a new shipment comes in (which could be a day or when Costco stock them) that's if these people don't buy out the entire stock again next shipment comes in.
How would you feel if you have a new born and everywhere you go all the baby formula is sold out literally everyday unless you drive 45mins away and get some. And you know is not everyday folks who buys them. People buy them out so they can ship it oversea to make a profit and the store just allows them do this.
That's what happen to HK a few years back and literally lot's of place are out of baby formula or what ever these Chinese decided to buy and ship it to China. Things got so bad the gov have to put a limit on how much each person can carry in a day.
If you don't stop them now things will just get worse and worse and when you try to put a stop to it then is too late. | This is not China and Costco should order more stock to meet the demand. I bought 46 2l of coke from Wallmart last week. You mad?
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Until the lions have their own historians, the history of the hunt will always glorify the hunter. | |
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10-21-2018, 06:00 PM
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#13408 | | Banned By Establishment
Join Date: Mar 2002 Location: Vancouver
Posts: 7,403
Thanked 643 Times in 194 Posts
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Originally Posted by JDMStyo Sorry been swamped - One Central sale apparently starts around Oct 20-22 for VIP round. Submit your forms - our team and group has put in 150+. Aiming for 10% success rate. One Central Surrey
Floorplate and hand out uploaded. TBA on assignment fee.
My suggestion is to get few forms in - Magnum the marketing group is definitely about who you know and who you submit forms with.
Submitting with realtors they don't know = no chance in hell for units. My feedback. | Just curious how did the VIP round go? Is everything around $200k already gone?
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10-21-2018, 06:19 PM
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#13409 | | reads most threads with his pants around his ankles, especially in the Forced Induction forum.
Join Date: Mar 2004 Location: Vancouver
Posts: 10,645
Thanked 2,191 Times in 1,131 Posts
| Quote:
Originally Posted by Manic! This is not China and Costco should order more stock to meet the demand. I bought 46 2l of coke from Wallmart last week. You mad? | Costco????????????????????????? - ?????? VanPeople.com
Doesn't matter to me but others might. My Chinese isn't the best but it seems like whenever there is a new shipment these people who camp at Costco would literally buy every single item so on one can buy it. New shipment comes in? Do the same thing.
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10-21-2018, 08:18 PM
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#13410 | | RS controls my life!
Join Date: Apr 2004 Location: Vancouver
Posts: 721
Thanked 235 Times in 92 Posts
| Quote:
Originally Posted by DJ Milk Just curious how did the VIP round go? Is everything around $200k already gone? | Just got our allocations - PM me for details. $900/ft.
344 ft and all are still available so realistically $299K units at 25+ stories.
Contracts next week.
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10-21-2018, 08:36 PM
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#13411 | | WOAH! i think Vtec just kicked in!
Join Date: Mar 2013 Location: Y
Posts: 1,604
Thanked 1,399 Times in 396 Posts
| Quote:
Originally Posted by JDMStyo Just got our allocations - PM me for details. $900/ft.
344 ft and all are still available so realistically $299K units at 25+ stories.
Contracts next week. | I thought it was roughly $3500/floor increase?
$299k for an Urban 1 is leaning on the very expensive side.
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10-21-2018, 08:55 PM
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#13412 | | reads most threads with his pants around his ankles, especially in the Forced Induction forum.
Join Date: Mar 2004 Location: Vancouver
Posts: 10,645
Thanked 2,191 Times in 1,131 Posts
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^^ that's like one bedroom luxury apartment in HK.
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10-21-2018, 09:21 PM
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#13413 | | 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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All the starting prices are pretty much lies. There’s probably 1 unit at that price if even
I just bought a presale at university district. 1bed plus den with locker and parking. Roughly $770/sqft
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10-22-2018, 09:51 AM
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#13414 | | they call me the snowman
Join Date: Apr 2001 Location: online
Posts: 19,749
Thanked 3,993 Times in 1,374 Posts
| Quote:
Originally Posted by Manic! I bought 46 2l of coke from Wallmart last week. You mad? |  | |
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10-22-2018, 09:58 AM
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#13415 | | reads most threads with his pants around his ankles, especially in the Forced Induction forum.
Join Date: Mar 2004 Location: Vancouver
Posts: 10,645
Thanked 2,191 Times in 1,131 Posts
| Quote:
Originally Posted by kr4l All the starting prices are pretty much lies. There’s probably 1 unit at that price if even
I just bought a presale at university district. 1bed plus den with locker and parking. Roughly $770/sqft | Is this a rental or you plan to live in it?
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10-22-2018, 10:43 AM
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#13416 | | RS has made me the bitter person i am today!
Join Date: Nov 2010 Location: /
Posts: 4,697
Thanked 2,422 Times in 918 Posts
| Quote:
Originally Posted by SFU_wmc Shameless plug....but my company is running a small workshop this Saturday afternoon on the topic of First Time Home Buyer.
Some of the content we will cover include such as
- how to save for the same downpayment using half the time | That's a big claim, if you can generate that sort of return. You should quit RE and work at a P/E firm and print billions of $$$.
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2022 Velo N
2005 S2000
2007 CSX Type-S [Sold]
2002 RSX-S [T-Boned]
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10-22-2018, 03:03 PM
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#13417 | | 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 Mr.HappySilp Is this a rental or you plan to live in it? | Rental. I ain’t living in Surrey
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10-23-2018, 11:18 AM
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#13418 | | I don't get it
Join Date: Feb 2016
Posts: 400
Thanked 180 Times in 70 Posts
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What do you guys think will happen with kennedy in charge now? Of course he could lie but even when he did in burnaby he screwed over renters for developers.
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10-23-2018, 11:38 AM
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#13419 | | I have named my kids VIC and VLS
Join Date: Oct 2001
Posts: 36,472
Thanked 14,346 Times in 5,651 Posts
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Well it’s pretty obvious he has developed interests in mind as opposed to some of the candidates
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Dank memes cant melt steel beams
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10-23-2018, 11:57 AM
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#13420 | | Hypa owned my ass at least once
Join Date: Aug 2007 Location: Paradise, BC
Posts: 6,582
Thanked 6,305 Times in 2,513 Posts
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Well... this morning on Breakfast TV, he was saying his focus is going to be on affordable rental housing run by non-profits (which already sounds like it's gonna be a gong show to me), and funding to get people into the market (whatever that means). It also sounds like he is going to try and tap into federal funding, but I personally would not have very high hopes about. With the federal election coming next year, JT is going to try and make a whole bunch of big promises in attempt to buy votes, but whether those promises can be delivered depends on the outcome of the federal election.
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10-23-2018, 01:43 PM
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#13421 | | Willing to sell body for a few minutes on RS
Join Date: Mar 2002 Location: Victoria
Posts: 10,434
Thanked 4,807 Times in 1,767 Posts
| Quote:
Originally Posted by R1CED`
there also needs to be a regulation where if you constantly being reported for shitty work, your future build permits will not be issued until you put in some attention into addressing concerns with completed projects
| Construction permits are for ensuring the structure is constructed to local building and safety codes.
They are not a QC check for things like dents, knicks and/or if your new dishwasher works properly. That's up to the each developer to regulate and enforce upon themselves.
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1968 Mustang Coupe
2008.5 Mazdaspeed 3
1997 GMC Sonoma ZR2
2014 F150 5.0L XTR 4x4
A vehicle for all occasions
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10-23-2018, 02:52 PM
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#13422 | | I have named my kids VIC and VLS
Join Date: Oct 2001
Posts: 36,472
Thanked 14,346 Times in 5,651 Posts
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Was in Penticton over the weekend visting the wifes friends and going to an absurd amount of wineries..
Gotta say, Penticton is pretty awesome.. It's got a hipster vibe of nice, boutique stores, all the amenities you could ask for (besides a costco) access to 2 great lakes, affordable housing, etc.
Actually a place i could see myself living potentially
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Dank memes cant melt steel beams
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10-24-2018, 10:22 AM
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#13423 | | reads most threads with his pants around his ankles, especially in the Forced Induction forum.
Join Date: Mar 2004 Location: Vancouver
Posts: 10,645
Thanked 2,191 Times in 1,131 Posts
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Looks like interest rate is going up again.
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10-24-2018, 02:13 PM
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#13424 | | Old School RS
Join Date: May 2004 Location: Port Moody
Posts: 4,563
Thanked 3,960 Times in 1,208 Posts
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Not only did it go up today, but the expectation per BMO's economists is now:
23% chance of another hike Dec 5/18 to 2.00%
80% chance of another hike Jan 9/19 to 2.00%+
86% chance of another hike Mar 6/19 to 2.00%+
Locked in our 5 year fixed a few weeks ago at 3.39%, feeling comfortable with that choice now.
-Mark
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I'm old now - boring street cars and sweet race cars. | |
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10-25-2018, 06:18 AM
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#13425 | | RS.net, helping ugly ppl have sex since 2001
Join Date: Feb 2002 Location: Vancouver
Posts: 8,228
Thanked 3,839 Times in 1,483 Posts
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Good rate. Tried to renew my wife’s mortgage and they offered 3.62!
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Crush - 1971 Datsun 240z - Build Thread
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