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Vancouver Off-Topic / Current EventsThe off-topic forum for Vancouver, funnies, non-auto centered discussions, WORK SAFE. While the rules are more relaxed here, there are still rules. Please refer to sticky thread in this forum.
Condos (namely highrises) should only be used as bridge housing. Living in them long term, to put it bluntly, is gross.
Buy a unit to rent it out to some poor sucker. I mean most condos going up are likely rentals which replaced the apartments that stood for 50 years prior. Same living style, different architecture. Cramped corridors, few elevators (flights of stairs when both go out), tight layouts and God knows what kind of neighbours you have after spending $950k. Fancy prison quarters is what condos become. I'm so glad I don't work-from-home.
Space is good for mental health. Penthouse or street level, you're in the same building. Would you rather birds fly in your window or overhear a couple talking about how deep they want to go in the back alley? And....hear it too....
I'd take that you've never lived in a luxury condo?
I was fortunate enough to have lived in both luxury home (7 bd 6 bath, british property with private pool and heated driveway) and condo, and my preference is condo over house actually. It's nice to have all the rooms that I actually don't need, but with condo, I have less to deal with, cheaper to maintain and have all the conveniences.
Everyone is different, have their own preferences. Just because you don't prefer one lifestyle over another, doesn't mean you should label it a prison quarters. The only thing it does is that it shows how shallow minded you are.
The other things you need to factor in would be the long elevator wait, especially if you're on a high rise penthouse that's like 40 floors up. Carrying a whole bunch of groceries while waiting for the elevator really sucks ass.
Townhouse >>> condo in every single aspect, especially if you can get one with an attached garage
I'd argue that the wait is way better if you're in the penthouse unit. The elevator grabs you first on the way down. Then you have the luxury of stopping 30 to 40 floors on the way down and giving everyone a head nod as the elevator already has 2 to 3 people.
In addition, all the penthouse / upper suites have parking near the 2nd-floor elevator. So sometimes they also get priority in going back up. The penthouse in my previous unit had a maid/instacart to bring up the groceries lol.
Quote:
Originally Posted by chinook79
I'd take that you've never lived in a luxury condo?
I was fortunate enough to have lived in both luxury home (7 bd 6 bath, british property with private pool and heated driveway) and condo, and my preference is condo over house actually. It's nice to have all the rooms that I actually don't need, but with condo, I have less to deal with, cheaper to maintain and have all the conveniences.
Everyone is different, have their own preferences. Just because you don't prefer one lifestyle over another, doesn't mean you should label it a prison quarters. The only thing it does is that it shows how shallow minded you are.
I agree, luxury condo living is pretty solid especially if you have a massive patio/balcony to host events. Can't imagine living with 7 bedrooms unless I pump out like 4 kids.
Condos (namely highrises) should only be used as bridge housing. Living in them long term, to put it bluntly, is gross.
Buy a unit to rent it out to some poor sucker. I mean most condos going up are likely rentals which replaced the apartments that stood for 50 years prior. Same living style, different architecture. Cramped corridors, few elevators (flights of stairs when both go out), tight layouts and God knows what kind of neighbours you have after spending $950k. Fancy prison quarters is what condos become. I'm so glad I don't work-from-home.
Space is good for mental health. Penthouse or street level, you're in the same building. Would you rather birds fly in your window or overhear a couple talking about how deep they want to go in the back alley? And....hear it too....
And here I thought we were doing decently well with our $200k+ dual income, no kids condo living but still unable to jump to detached SFH. Must be nice to have such a privileged outlook on housing expectations.
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Quote:
Originally Posted by skyxx
Sonick is a genius. I won't go into detail what's so great about his post. But it's damn good!
2010 Toyota Rav4 Limited V6 - Wifey's Daily Driver
2009 BMW 128i - Daily Driver
2007 Toyota Rav4 Sport V6 - Sold
1999 Mazda Miata - Sold
2003 Mazda Protege5 - Sold
1987 BMW 325is - Sold
1990 Mazda Miata - Sold
And here I thought we were doing decently well with our $200k+ dual income, no kids condo living but still unable to jump to detached SFH. Must be nice to have such a privileged outlook on housing expectations.
If you don't wanna live in a "gross" condo , just don't be poor - GS8
Telford is a great investment for those that got units IMO.
Concord Metrotown isn't cheap but it's luxury + balcony living could be a good new trend (heated + glassed off).
Tailor is GG mostly too with 1BR gone.
Alaska next door has sold most of the 1BR at $900/ft Brentwood by tracks on Alpha/Beta.
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What a difference from 2-3 months ago during the winter dreary months.
With rates still so slow the race for detached is full on from the posts above.
It isn't just the $2.5M and under any more either as evident of this sale on 41st.
B.C. real estate: Bidding wars again hitting high-end housing market
One recent sale went more than $1.6 million over the asking price, while another went $700,000 higher.
Author of the article:
Joanne Lee-Young
Publishing date:
Feb 24, 2021 • 2 days ago • 3 minute read • comment bubbleJoin the conversation
House at on West 41st Avenue in Vancouver was up for sale, asking $3.98 million. It sold for $5.66 million.
House at on West 41st Avenue in Vancouver was up for sale, asking $3.98 million. It sold for $5.66 million. Photo by Arlen Redekop /PNG
Article content
When the COVID-19 real estate boom started, multiple offers and over-asking sale prices were mostly happening for detached homes in the $1.5 million to $2 million range in parts of East Vancouver and North Vancouver, and lower-prices houses in the Fraser Valley.
Now, there are signs of this moving into more expensive housing. In particular, there were two eye-popping sales in mid-February, one that went for over $700,000 the asking price, and the other for more than $1.6 million higher than the asking price.
B.C. real estate: Bidding wars again hitting high-end housing market
In a fast-escalating market with heated demand and multiple offers, it can be challenging for sellers and real estate agents to determine an asking price by relying on a property’s assessment or recent sales of a similar property. This can lead to sale prices that are hundreds of thousands of dollars over the asking price.
For example, at the beginning of the real estate boom between 2014 to 2018, a home in Shaughnessy sold for $2 million over the asking price of $5.99 million in March 2015. Later, in June 2015, there was a sale of a home in West Vancouver that caught attention for selling for $1.1 million over the asking price of $2.98 million. These were one-off sales, but they help set a higher comparable price or margin for next sales.
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Real estate agents say “cheap money” or very low interest rates are spurring sales and prices. Existing homeowners are refinancing at low rates and taking that cash to make another property investment. First time buyers or those with less home equity also benefit from low interest rates, but they are at a disadvantage when it comes to competing for sales that involve multiple and over asking price offers because they have to bid in smaller increments and take fewer risks such as forgoing a house inspection before the sale closes.
Vancouver real estate agent Muzda Stenner described the recent scene at a West Vancouver detached home on Queens Avenue that was on sale for $2.877 million.
“It was almost like a garage sale (with) cars lined up on the street,” said Stenner. “Even with COVID, and people wearing masks, it was a full house, and people were trying to get in.”
The home is assessed at $2.69 million. She helped her client bid “$3 million, with subjects” to buy the home. “And it was like, ‘no, no, no.’ I had one of the lowest bids.”
With some 19 other offers, the home went under contract in mid-February to be sold for $3.6 million or $723,000 over the asking price.
“It had great potential, but it was a very small house,” said Stenner of the 3,000-square-foot, two-storey home on a 12,000-square foot lot with ocean views that was built in 1957.
On the West side, a 4,000-square-foot, five bedroom, rancher-style home on West 41st Avenue just west of Granville Street went under contract in mid-February to be sold for $5.66 million.
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The property, which is assessed at $3.95 million got one offer at the asking price of $3.98 million, but three other offers that were all above that, according to the listing agent, Sarina Han. The sale price was $1.68 million over the asking price.
Han said the property has RS-3 zoning, which allows for a single-family home in keeping with the design and density of the surrounding area, even though it is on busy 41st Street near a major intersection at Granville Street.
The condo market, which has been described as more balanced in pricing because there is more supply of listings and because more buyers were seeking larger homes with outdoor space to cope with the pandemic, is also seeing some of this frenzied activity, according to some real estate agents.
Ian Watt said he was juggling two multiple offer situations for potential condo buyers one recent evening. One condo they were interested in got five offers and the other had 14 of them. It was a one-bedroom, 965-square-foot condo in Kits that was asking $899,999, but sold for $1.107 million or $207,001 over asking price.
“I lost out with my buyers because someone totally overpaid,” said Watt.
“It had great potential, but it was a very small house,” said Stenner of the 3,000-square-foot, two-storey home on a 12,000-square foot lot with ocean views that was built in 1957
Not sure where you grew up but sounds like a mansion and a very desirable giant lot.
And the realtor would only say the other party over paid cuz they didn't win the bid
If that realtor would have been representing the people that hit the bid it would read something like
“Helped my buyers do what was necessary to get their dream home in a hot market! See how I can get you into your dream home today!” As he fans himself off camera with a handful of money.
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98 technoviolet M3/2/5
Quote:
Originally Posted by boostfever
Westopher is correct.
Quote:
Originally Posted by fsy82
seems like you got a dick up your ass well..get that checked
Quote:
Originally Posted by punkwax
Well.. I’d hate to be the first to say it, but Westopher is correct.
^
That's so true haha. Some of them are so far gone from reality. When they say that it kind of discounts the buyers strong purchasing budget + lack of subjects they were willing to take on.
I have been dealing with my insurance broker for almost 2 months trying to renew insurance on a rental house I have. Latest problem they have a trampoline. It had to be removed before I could renew the insurance. I go online and find https://www.squareoneinsurance.com Spent 20 minutes including an 11 minute phone call (5 minutes on hold) because of some issue and bam!!!! I had insurance. Best part it was $800 compared to the $2300 my insurance broker wanted to charge me.
__________________ Until the lions have their own historians, the history of the hunt will always glorify the hunter.
I have been dealing with my insurance broker for almost 2 months trying to renew insurance on a rental house I have. Latest problem they have a trampoline. It had to be removed before I could renew the insurance. I go online and find https://www.squareoneinsurance.com Spent 20 minutes including an 11 minute phone call (5 minutes on hold) because of some issue and bam!!!! I had insurance. Best part it was $800 compared to the $2300 my insurance broker wanted to charge me.
Keep in mind, online insurance quotes come with a bit of a risk. They expect you read all the fine print and understand what you're buying. If you have to claim something later that is declined, the fact you were able to purchase the policy isn't going to be a guarantee they'll cover you.
This is true for all forms of online insurance (travel, health, etc).
Not to say online insurance isn't better in a lot of ways. Just make sure you read your fine print to learn the exclusions. That's why brokers are sometimes a better route because they are supposed to worry about those things for you.
And in person insurance does not come with a risk?
Brokers know as much as you do, next time you get insurance, ask them 3 specific questions in regards to coverage, then count the minutes it takes them to find the clause within the clause of the other clause for the answer
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Quote:
Originally Posted by Mr.Money i hate people who sound like they smoke meth then pretend like they matter.
Originally Posted by ilovebacon
Does anyone have a pair of 25 pounds one-inch hole for sale at a reasonable price?
As I’ve said before I recommend “HIP” the home insurance people who are basically a finders service
Even after using them I’m not entirely sure how they get paid/make money as they did all the leg work for my latest policy and even went back and forth with multiple providers on questions and changes before we settled with one.
Insurance is tough to gauge because virtually all of them have negative reviews. The main complaint almost -always- seems to be “I missed a Payment and they cancelled my policy so fuck then” bla bla bla lol
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Dank memes cant melt steel beams
And in person insurance does not come with a risk?
Brokers know as much as you do, next time you get insurance, ask them 3 specific questions in regards to coverage, then count the minutes it takes them to find the clause within the clause of the other clause for the answer
Then find a better broker.
A broker knows way more than I do. Insurance documents are confusing and not easy to follow. My broker knows how to read them and explains it all to me fully so I know what coverage I'm getting and what I'm paying for. She'll give me options at different prices and I choose what's best. And if I have an issue with the insurance company, she goes to bat for me. Obviously brokers are not all perfect. YMMV.
Was watching this house as I walk by it from time to time, 125 Boundary. Literally the last houses in Vancouver, another step in you’re in Burnaby lol. Views of north shore and Coliseum/PNE. Inside was pretty nice like a 10 year old reno
View from the corner:
Listed at 1.79
Sold at 1.86
7 days on the market
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Dank memes cant melt steel beams
A broker knows way more than I do. Insurance documents are confusing and not easy to follow. My broker knows how to read them and explains it all to me fully so I know what coverage I'm getting and what I'm paying for. She'll give me options at different prices and I choose what's best. And if I have an issue with the insurance company, she goes to bat for me. Obviously brokers are not all perfect. YMMV.
This. I think its very similar to how you should find a realtor. Don't get someone to do it because they're your uncles, second sister in law that concidentally has a half-decent face but they can barely put two words together because "family friend".
You are currently viewing our boards as a guest which gives you limited access to view most discussions and access our other features. By joining our free community you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. Registration is fast, simple and absolutely free so please, join our community today!
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, just don't be poor - GS8
