710 sqft, however it was the only unit in that area. When I did a rental appraisal it was noted at $2,000/month.

Presales updates - market's clearly back.

Burquitlam Area
LOMA - $400ks 1BR and $600k 2BR ($800/ft) AC + concrete is now fully sold out.
Highpoint - all 1BR nearly sold out - $550-600's for 640ft range big 1+dens. This one is real cool as the sky 52nd top patio is worth a look when its done
Horizon 21 personal favorite and great small local builder. 10mins from Skytrain and across street from LOMA. $350ks will get you 400ft + parking + AC/concrete. Decent yield and should catch up to Lougheed if Marllardville contineust o build out


Coquitlam Area
SOCO - close to sold out South Tower - North Tower launched and 60% sold
Jinju (Anthem) - coming up on North Road & Austin . Likely priced $900/ft
City of Lougheed - struggling but $950/ft will do that. Tower 1&2 looks to complete in 2021

Brentwood
Alaska Amacon's reasonable concrete deal is selling fast
Tailor by Marcon - hot offering. $399's for 1br in Brentwood - this will be HOT HOT HOT with just 180 units and 32 stories (8 units per floor..)

Richmond
RC by Shape - since Tower 1&2 launched, units are going fast. Much faster than Shape's other deals in Coquitlam at least.
Park Central $450k 1br going real fast

Assignment Market
Lots going on here too - people are trying to scoop deals on buildings they missed out on 2-3 years ago and now investors/clients are stuck and want to get out. Some below market potential here. Text/PM us if you like a building and want us to scour our networks for deals are may have fallen through cracks.

Existing units:
Been checking out open houses with clients
1BR investment units in $400-450k range pretty competitive and with rates 1.5-2.0% it's bidding up quality asset prices.

@JDMStyo

Curious as to which area are the majority of people looking at for $400-450k 1BR units?

Anyone have a notary they would recommend for completing a purchase?

Molly Xia Corporation in Burnaby. It was the best pricing + she's really knowledgeable for land transfers. If you end up going to her let me know.

When I was house shopping in 2020 I came across 528 E 55th Ave Vancouver in early August. It was listed for $1,199,000 and has been on and off the market since 2017 with no sale. The listing was up for almost a month before it got sold, below asking, for $1,130,000.

I come across it again and this time around it was listed for $1,298,000 and got sold within 5 days for $1,385,000 (R2527002) in Jan 2021.

WTF?!?!?

FOMO

Alex Luk @ Compass Notary

Straight up, no BS, and easy to deal with. Have referred other RS members to him in the past and all have been happy. Think he's a Subie guy too. Recall him driving a 2.5RS and now has a current model STI.

Joseph Ho is another notary I've dealt with recently but he's definitely more old school. Step into his office and it's like a time machine into the early 90s. Better pricing than Alex Luk but less tech savvy and it shows.

Went to the Plaza One at King George Hub the other day. Planned for 2024/2025.

1 Bedrooms: $850 - $900 /sft.
2 Bedrooms: $750 - $850 / Sq.ft

With the low interest rates and tight rental markets, almost makes more sense to buy existing units at the current 1.5 - 1.7% interest rates.

What rents easier?
Condos - 1 bedroom or 2 bedroom?

Compared to townhomes?

Going forward, a part of me thinks due to COVID, people are looking for more space and will gravitate for larger homes / fewer condo sales. Then again, I dont see COVID staying forever - the flat condo prices could be a good time to buy now.

Jeremy Tsang in Kerrisdale is an old banking buddy - will get you under $900/closing.

ML and Michael is also good right on Boundary/Grandview.

Aberdeen Richmond area - Cheryl Kwok and team is solid and cheap.

Honestly they're all pretty similar and you can't go wrong with most esp in the $600-900 range. Go to a lawyer and you'll be billed 30%+ more for no extra.

Lots of places - and it depends on if you're buy low/flip or longterm rental stability.. or considering live-in primary for yourself.

Coquitlam/Burquitlam 1BR plenty of 1BR there, concrete/highrises.

Metrotown - further from hub/older ones. BOSA Sovereign I saw one for $420k, no parking, nice steal and would rent for $1800.

Vancouver East - some of the cheaper Skytrain nearby 1BR could be in the $500's range.

It's obviously a competitive price range so anything good goes fast. Lots of people can qualify for $1500-1800/month mortgage and with rates this low more are considering buying than paying someone else's mortgage.

I used Cheryl, she was great!


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Jeremy or Jerome? If Jerome Tsang, he's my cousin and is a notary in Kerrisdale lol

Yeah, definitely want to move to Burquitlam.

I hear Whiting Way & Foster Ave are great this time of year.

Just wanted to thank everyone for the notary recommendations - we're looking at moving the completion date so I really appreciate having a few to reach out to.

Re: 528 E 55th - wow. The August $1.13M sale price seems low to me on paper, but you never know without seeing it in person. Other than the T-junction position I guess, which is going to deter some buyers for sure.

Hats off to whoever bought at $1.13M and sold at $1.385M... based on the photos on Zealty it doesn't seem like they did anything except take better photos. Didn't even ditch the green walls.

Aren't those $399, studios? Not quite 1br?

How does something like this affect future owners?
https://www.burnabynow.com/local-new...-costs-3127893

Probably a lot? :lol

If you were to hire a diligent notary or lawyer to go through the strata documents, this would pop up. It would then boil down to the interested party to decide if they still want to proceed or not. I would predict people would still continue to buy for the sake of buying, and worry about the strata costs and legal issues later on. First time buyers would likely bail out on this, and let overseas buyers or those with deep pockets move forward on units at this builing.

Personally, I'm iffy on mixed-use buildings. The biggest turn off for me is the amount of traffic in and out of the parking lots.

The upstairs was fine but downstairs was very dingy. They had the laundry room in the basement without proper/no dryer ventilation. The foundation walls looked like it was coated with mold.

Block is hot.

https://globalnews.ca/news/7580905/c...hooting-woman/

1.3Mil / 200 properties is a levy of 6.5K for sovereign.
If you can afford 420k, you can afford 6.5k

What do you guys think of richmond, looking for detached. Is the fear of sinking really that bad? I heard you can't get earthquake or flood insurance? Prices don't seem to reflect this though. Cuz detach in Surrey and further east is pretty much same as Vancouver Richmond pricing right now. Easily $1m +. Newer ones are pretty much on par $1.6 $1.8

Ah, explains the lack of basement photos in the 2020 listing.

https://www.rew.ca/properties/306444...ad-richmond-bc
Went to look at this one yesterday and they already have an accepted offer today.

People buy into Richmond because of the community and amenities. The whole earthquake worry I think has rubbed off over the past decade with Richmond's rapid development in the City core.

I would love to move to Steveston when I retire, but I probably won't be able to afford any SF homes there unless I help launder money for Chinese gangsters.

What do you all think about buying into Delta or Twassassen? Get in early before the bridge is built, suffer for a couple of years but once that thing is done, it should be sought after bedroom community. Bonus - close to Pt Roberts for shipping and cheap gas! Only bad thing may be learning how to spell your dam suburb.