TD has this as both my last/current variables had/have trigger rates. Its always based on your contract rate including if there's any interest discretion. So if example you have prime -1.05%
and the trigger is 5% then prime rate would need to be at 6.05% in order for your payments to change. I was also told there's also variable without trigger but banks would usually not choose that route

As a counterpoint to selling your apartment due to the kid coming, bear in mind that you don't necessarily need a lot of space because of the baby until they start to crawl around. You do need some space for baby stuff, but if my wife and I can do it in our 700 sq ft apartment back then, I think it shouldn't be too difficult in your 600 sq ft unit as well.

Mind you, having easy -- basically 24/7 lol -- access to grandparents to help with the baby is another thing to factor into your considerations. But there is always that fine line of the pros and cons of having the grandparents helping with your baby. Some stuff will be huge help. Other things will annoy you to no end. And that hasn't factored into whether your wife will get along well with your parents when you are living under the same roof. It's a totally different dynamics compared to just having your wife spend time together with your parents. And having the baby as an extra potential flash point could create bad tension when the parenting / child caring styles between the Mom and the grandparents are different.

In the current market situation, would it be best to post a higher price and take an offer 1-3% less than asking or better off to post a fair price and wait for bidders?

Situation: Currently own a 1br 650 sq. ft condo in Kits. Neighboring unit recently (September 2021) sold their 640 sq. ft unit for $1202/sq ft. They asked for $1210 originally.

Would most realtor want me to list it at $1202 for a quick sale?

Yes. Most realtors will want a quick sale. Posting a high price may deter potential buyers where as a fair price gets people in the door which you want. The buyer agent would try to get to that $1202/sf. Question to ask yourself is that number OK with you? What realistic number are you looking at? Listing high hopefully for a biter to take your list price or hoping for multiple offers if that doesn't happen how disappointed would you be? My brother did that listing his coquitlam TH a couple months back and he got 2 offers. Both with subjects both under his asking. He wasn't too happy at all but still sold

Price at $1202 market and try to get over ask? I'm not sure what the demand on an one bed in kits will be though..... :accepted:

My thoughts the same but probably someone who REALLY wants to be in that area. Retiree or DINKS? Maybe investor to rent out specifically?

Check out zealty.ca. Your neighbour got under ask, but what was their # of days on market?
Then take a look at everything in your area (apples to apples or apples to oranges) that's sold in the last 2 months. You should be able to determine what your game plan should be, and what the end price should be too.

Inventory as stated before, is at an all time low since the 1970s.
Does not matter if your unit is in victoria, hope, or kits. Theres buyers for all locations.

When i bought my condo, i looked at kits, viewed two old shitty 50 year old buildings/units, that were fairly priced, both had stacks of people there on both days. Both units oversold by about 10% (2017)

You're comparing 2017 to 2021??

The difference between $1210/sq. ft. and $1202/sq. ft. on a 640 sq. ft. condo is just over $5K.

That's practically a rounding error when it comes to a RE sale.

The pricing difference between $1210 and $1202 probably came down to psychological differences, e.g. $769K tends to "feel" disproportionately farther from $800K than $77_K, even though that difference is only $5K. $769K is "mid 700's" still - $775K isn't.

250k Metro Vancouver/Fraser Valley residents live within 3ft of sea level

when’s the fire sale for units in river district?

Dont worry, if the natural floods dont get you, the bursting infloor heating manifolds will

The cap rate for Kits is garbage if they're a cash flow investor that wanted it for renting lol :heckno:

Did River District flood at all?

Aware those that aren't in the HVAC field what the correlation is between in floor heating and floods?

No. Only the construction areas where there is no drainage, it just filled up like a big pool (this is expected and normal).

Update back with the parking situation. Since last time I posted about emailing the developer, they put me on a waitlist for spot change. Told me there is one owner looking to switch as well as he didn't like his spot, it was a spot under the ramp where it goes from top level to bottom level. Essentially you can't back in and open the trunk if you had an SUV due to the incline. The spot is wide and my fiancee drives front in, so it became perfect, assuming the other owner willing to do a switch trade with mines.

Glimmer of hope since my spot isn't the best, and today the developer offered the spot to me (the owner released his spot available). I needed to pay $250 to do the legal documentation to switch. Saves me some grief having to go down to the parkade when my fiancee is home to park the car for her. It's a win in my books and glad it worked out.

Nope. Surprisingly lol

Glad it worked out for you! Not sure why your realtor couldn't figure that out for you. :failed:

Yup, I always don't look at asking price.
Compare it to recently sold.

I bought my house in July and a similar house, slightly smaller lot but bigger inside sq ft just sold for $250K more than I bought my place. 7 days on the market.

Easy answer is they already received their commission and no fucks given.

I've known my RE agent for a couple years (good person no doubt); although I do feel like, "if I don't ask, she won't take action". She won't proactively do it, which is why I felt like I ended up in this weird parking situation.

I asked if we could request spots and she said developers don't allow requests and that bigger spots are typically given to bigger units. I had to look after myself afterwards to bug the developer with emails to argue my case for a new spot.

This is my first time owning a place, there would be a lot of things I would missed or not have known.

Now I'm debating if I should find a new RE agent when I do plan to sell the condo down the road.

I would cause it sounds like she isn't going the extra mile for you.

A bunch of those newer buildings in river district, have faulty manifolds.
We have repaired 9 units, in a single building, in the last 2 weeks. The entire building is going to need to eventually replace every manifold. Strata is spinning their wheels

Correlation is, when the flow meter on the manifold bursts, the unit / units below / beside have 50psi of water gushing out until someone notices it

In other words flood :thumbs:

These the Avalon developments by the Save-on-foods side that have issues?

There's a few developers in the River District, which buildings have the problems?