A four-plex was recently built in my area, 3 of the 4 are sold.
https://www.rew.ca/properties/283457...erty_click=map

3 levels per unit, with a yard and single garage for 1 mil. each

Developers and the RE industry are enjoying this announcement. This is going to drive up the price of land even further.

I saw it go up, I live in the area too. It's insane imo. I rather a TH or condo with two parking. If all 4 of those units have 2 cars then it's fucked for everyone on the block.

Anyone owning a vancouver special should be excited. The neighborhood I’m in is strongly opposed to rezoning. I’m not. The lots in my area are anywhere between 8000-20,000sqft. If a developer offered me 2-3x what I think my place is worth, I’m signing the dotted line.

8000-20,000 sq ft? in Vancouver!?

No. I’m between Ocean Park and White Rock in south Surrey. My lot is a little over 13,000sqft with lane access. I’d sell in a heartbeat if the opportunity ever arose.

My lot and the two adjacent are primeeeeee candidates for this. Wonder how they will go about awarding the initial zoning

What's hot in Presales/Condos this week? Still going fast again with low rates. Heck even Kelowna's going fast.

Kelowna
Bertram @ Bernard Block (Kelowna) presale. $800-1000
$240K for 350-400ft micro units.
About 30% sold first weekend I'm told, surprised to hear it's that fire!

Richmond
Richmond Center by SHAPE starting soon. $1100/ft or about $500's for 1BR (450ft) to start
Paramount by comparison nice bargain

Brentwood
Lumina - Alpha/Waterfall completion Oct 2020 doing some buying on fire sale deals.
ie. 20% walking away from $150-200k deals
$660k for 780ft + parking. could be a good deal for primary users

Does anybody know anything about the developer Qualico? My in-laws are considering buying a new build from them in Surrey, dunno if they are shady or not: http://foxridgehomesbc.com/

The CoV move is so stupid. It just going to turn CoV as a place where no one wants to live in. What kind of fucked up luxury is that when one lives with another 4-5 households?

They keep addressing the problem by focusing on the problem and not the cause.

The cause is speculation. You kill speculation, everything would become affordable.

How to kill speculation? Easy... 100% capital gain tax on RE for first 5yrs (with some exception for developments), and then go down gradually like 5% a year for the next 20 (since the common mortgage is based on 25yrs).

This way, you kill 100% speculation and leave only people who genuinely want to call Vancouver their home to buy into this market.

What if someone dies, gets a divorce or gets a job in another city? Also I have 2 mortages that are on 15 year terms.

If anyone needs a good real estate agent.

https://photos.smugmug.com/Other/Ps3...-WA0009-X3.jpg

.......... not sure why any man would admit that in public... sounds like he liked watching or something

Lol, my brother in laws inlaws used a realtor to sell their house and shortly after they are getting divorced and his MIL is dating the realtor.

It happens :)

People date in the workplace, people date clients they meet in any field (despite HR rules, company policy etc etc). I am not surprised at this at all.

Foxridge has built a lot of detached homes on Burke Mountain. It might be worth having your in-laws go to open houses in that area to see how they have aged over the past 5-10 years.

Not sure how my proposal affects anything.

If one has to sell, they sell and they will get every cent they put in back. It's only the capital gain that gets taxed. If no profit is made, no tax.

The purpose for such policy is not to punish homeowners, only to get rid of those who are in for a quick buck.

Say during the period of 2008-2016... you buy a RE and didn't have to do anything... you just kept it there and the price went up by 150%... what value did anyone add to it? nothing. And other than making it harder for those who want to call Vancouver home actually able to do that, we created no substantial value.

Shelter is basic human need, it should never had been a commodity for people to speculate upon. It creates all sort of social problems.

It's not going to be a popular policy... but it will get rid of our housing crisis for good. IMHO, as a person who call GVR home, a worthy tradeoff.

anyone remember how much presales at concord pacific the arc went for? quite a bit of listings in that condo.

Thanks for the tip!

If I recall the cost of a 2-bedroom is the equivalent of buying a detached in East Vancouver. Don't quote me since it's been awhile lol

I think $500 to 550k starting for the studios from when I last looked. I saw a unit sell for low $600s with parking spot on the sold history in the last year.

I bought presale1 bedroom for $550k with parking and sold it for $725k. Glad I got it before the influx of listings.

Anyone know a good place to bridge the gap on strata water damage deductible? Ours went from 50k to 250k. We already have condo insurance with BCAA but they only cover a max of 100k. Looking for a place that can bridge the gap for the other 150k which will probably cost more than our BCAA coverage ffs. This is fucking insane for condo owners. Some shady shit happening with strata insurance companies?

Have you been living under a rock for the past year?

https://www.rebgv.org/news-archive/w...increases.html

https://www.westerninvestor.com/news...oar-1.24091768

https://vancouversun.com/business/ex...surance-crisis

I'm curious, what's your building like? Age, claims history, and do you happen to know how much your strata premium increased by?