And it was the same guy talking about buying a BMW i8 to flip? What's the story with this guy?

V1031118, 6534 UNION ST, Burnaby, British Columbia $ V5B1W8

At $541/sqft, I would've at expected the owners at least clean up the kitchen before taking pictures for RE listing. Yuck.

^

My cousin just took possession of her house last week, they started some reno's before moving in. I guess there was a hole in one of the walls upstairs, he was renovating the bathroom below and when he ripped apart the ceiling it was raining used needles and condoms..........apparently the guy who owned it before them had a couple whore drug addicted daughters and used the hole in the wall like a garbage chute. Now that is fucking nasty!!

I should probably add both her and her husband moved here because the job opportunities were so much better then where they came from since this shitty Vancouver economy seems to be one of the main points of this thread. :) To be fair it did take one of them a long time to find a job but when they did it was much better then what they had elsewhere.

I just don't understand how people expect to sell for max $$$ when they take shitty pictures of messy areas.

When I put my place up for sale, I cleaned everything up before taking good pictures that represented what was for sale. It was a pain to live there, tidying up constantly in case of a showing, so it was a relief once I sold it. Then I could live normally up until packing/moving day.

Same, I put half my stuff in storage to stage the house when I sold it and it didn't take long. I would do the same if I ever move out of the house I live in now.

RE agents will call this "staging" :ilied: :troll:

Quick stupid question RE: RRSP Withdrawal for First-Time Home Buyers.

When you are re-paying to the RRSP the amount withdrawn for first-time home buyers, are those repayments still tax-deductible/deferred from each years' income taxes?

That wouldn't make sense right? Since when you intiially contributed, you gained the credit to reduce your taxable income. It looks like all you do is simply contribute the min 1/15th amount back into the rrsp (for that year) and for income tax purposes, you designate the amount "as repayment under HBP"
Here's what I got from the site,

When and how much is your repayment

right yeah, makes sense just never thought of it.
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LOL here is some stories.

I went to see this unit around Lougheed mall area. 27th floor 600sq selling about 20% below market price. I arrange an appoitment at 12pm. Arrive there and waited with the agent in the lobby till around 12:15pm because the unit is rent out. The agent already told the teneate about the appoitment yet the tenate is still up stairs. I was about to leave when the tenate came to the lobby with a dog and a hamster.......

Anyways went into the suite. The small is worse than the bum in DTES! There are 4 bags of garbage laying in the kitchen, the stove and the area around it have grease all over like it haven't been clean for years. There is stain everywhere on the hard wood floor with pee smell (I am assuming is form the dog peeing.....). There are clothes everywhere, and the I don't think the toliet was ever wash or clean (It smell worse than the washroom in some of the Chinese restaurant). The curtains is ripped apart.... and worse of all there are used tapoms on the kitchen table. I can tell you that this is not a place for normal people to live. Yet here we have 2 international students living there (sorry to say from they are form China). Even the agent feels bad. Pretty much if I purchase the unit I have to spend at least 30k to clean it up (need new hard wood floor, repaint the place, new applience and professional cleaners to get rib of the smell).

2nd place again International student tenate (again form China). This place is better at least there is no dog smell. Again garbage everywhere, the stove looks like shit (there are chinks of black stuff stick to it). She also have a dog and it chew a lot of walls off you could see there are stains on the hard wood floor OH Did I mention I saw a ton of dead flies laying around everywhere....... Yuck. But hey at least she let us have tour of the apartment on time.

3rd unit. owner lived in it himself. Super nice and clean, unit is keep in good condition everything looks new.

Moral of the story some tenate just don't care. If I ever rent my apartment out no international students from China. Sorry if I am bias but from what I seen and experience they don't really tend to keep their living space tidy.

This is just a general observation, but I think a lot of these China students never lived away from home and do not know what it means to clean up after themselves. They have no ties to Canada and lack the understanding of consequences or don't care.
Increasingly, they are coming here and getting pets. Dogs or cats. And after their 4 - 5 years of schooling is done, they give these pets to the neighborhood animal rescues.
Some students even go as far as moving out without giving proper notice. So what if they lose their damage deposit. To them it is nothing compared to actually cleaning up the place or repairing any damages.
Where I live, the demographics have changed from mostly Korean students to mostly China students. We see them parking illegally in visitor's parking every day as if that one spot was their personal parking spot or double parked in fire lanes for extended periods of time.

But of course, we always tend to remember the bad things over everything else so maybe it is a small number of bad apples that ruin it for everyone else.

A few years back this would have been a straight tear down.

Silhouette ?

They are late to the party. No one would spend $1mil on that shack and live in it. That lot is only 5,650 sq ft. No one in their right mind would pay $1mil for a lot that size either. Biggest house you can build on it is 3,390 sq ft... At an average of $150/sq ft it would cost someone $508,500 to build a new home, making the total investment around $1.5mil. And when it comes time to sell they would be lucky to see $1.3mil for it.

I don't kink it would cost anything close to 30K to fix. I had a rental unit with a bunch of Indians. I believe 6 at one point and they left it in terrible condition. Cost less than 5k to fix including a new carpet and a referb stove.

B.C. property market hazy after 'millionaire visa' scrapped - British Columbia - CBC News

Thoughts?

The beginning of the end for high-end market is my guess. Who is going to absorb all that $3+ million mansions in Vancouver West/West Vancouver now?

Digging into this further - it seems that Quebec has a separate investor program and today's decision does not affect the program. Essentially, foreigners lends Quebec money and moves to another province (say BC or ON) later on. All the while other provinces take the brunt of the cost of servicing these "investors" while Quebec reaps the profit of interest free loan to boost business.



Millionaire immigrants invest in Quebec ? and then move on - Politics - CBC News

except the Feds are cracking down on this practice as well. you might not get citizenship if you don't stay in your province of destination. i've personally heard stories where people didn't get their citizenship because they were supposed to be in Quebec but stayed in BC the whole time.

i could only hope..

I would be rather skeptical of the legality in doing that. The freedom of movement is a fundamental right guaranteed by the Canadian Charter of Rights. If the immigrants were to take the government to court over this, I doubt the court would side with the government.

Is Vancouver ready for 52,000 more wealthy new immigrants? (UPDATE!) | Vancouver Sun

I guess we got the answer to that question rather quick. LOL

Yea i hear you on the legality of this. and frankly i haven't done enough dd on this. but the quebec investor immigrants signed on the dotted line that they promise they will stay in quebec when the landed here. some people didn't even make any effort try to stay in quebec at all. their plane ticket's final destinaation was Vancouver not Montreal.

how would they check though? They could easily say they are traveling to other parts of the country, visiting friends, relatives........

utility/hydro bills come to mind.