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Old 02-11-2014, 10:16 PM   #1
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Vancouver Condo Sales Ads Appears @ HK Newspaper

Are realtors really hungry for overseas chinese buyer?
or there is huge amount of unsold condos leftover? is the bubble burst around the corner?

It was forwarded to me from a friend
picture of a condo sales ads at 188 Keefer St ** Right across T&T **

Translation: condos of $200k+ with 5% downpay

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Old 02-11-2014, 10:24 PM   #2
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$200k + 5% down? so cheap. must buy.
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Old 02-11-2014, 11:51 PM   #3
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Nothing new. Seen ads in the paper of real estate in places like Hawaii and Costa Rica.
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Old 02-12-2014, 12:19 AM   #4
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i wonder how the new immigration rules will affect these buyers decisions.

Basically the Fed just announced no more immigration through oversea business investments...
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Old 02-12-2014, 08:24 AM   #5
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nothing new. the last time i was in HK 14 years ago i remember seeing rooftop billboards from re//max advertising realtor services with both an HK and 604 area code phone numbers.
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Old 02-12-2014, 09:47 AM   #6
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Quote:
Originally Posted by Y2K_o__o View Post
Are realtors really hungry for overseas chinese buyer?
or there is huge amount of unsold condos leftover? is the bubble burst around the corner?

It was forwarded to me from a friend
picture of a condo sales ads at 188 Keefer St ** Right across T&T **

Translation: condos of $200k+ with 5% downpay

lol stay away from that place.
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Old 02-12-2014, 10:00 AM   #7
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10k down? Damn, sounds so sketch
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Old 02-12-2014, 10:05 AM   #8
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lol stay away from that place.
Which building is this and why do you say that?

I'm quite curious why you are against it.
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Old 02-12-2014, 10:14 AM   #9
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i thought 188 keefer was on the corner of keefer & main from the billboard i see in chinatown, stones throw from hastings and main. i'm assuming he means due to location (proximity to DTES?)
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Old 02-12-2014, 10:32 AM   #10
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i thought 188 keefer was on the corner of keefer & main from the billboard i see in chinatown, stones throw from hastings and main. i'm assuming he means due to location (proximity to DTES?)
That's one of the reason. The quality they use is shit and it is very very close to the skytrain so you will hear it day in and day out. Also is like right besdie T&T tons of traffic and people just parking on the streets making it hard to find parking. If you walk around that area you will notice there are a ton of garbage around.
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Old 02-12-2014, 10:53 AM   #11
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skytrain noise wouldn't be that bad. imagine those condos by stadium that are about 10 feet away from the track.

i lived by brentwood before (about a block from the train) and it's actually not that bad.
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Old 02-12-2014, 11:13 AM   #12
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That's one of the reason. The quality they use is shit and it is very very close to the skytrain so you will hear it day in and day out. Also is like right besdie T&T tons of traffic and people just parking on the streets making it hard to find parking. If you walk around that area you will notice there are a ton of garbage around.
I think you are mistaken that this development is located at 188 keefer PLACE. 188 keefer place is as you described, right next to the skytrain and T&T, but that already has been fully developed in the previous years.

This development is on the corner of main and keefer . 188 keefer STREET.

I do agree that the quality they use is shit. This is probably the first time WESTBANK ever used laminate planks... Not even laminate flooring.
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Old 02-12-2014, 04:31 PM   #13
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Highjacking thread a little. Noobie starting to research condos. Is there specific site that rates builders and or tells you exactly what type of materials were used? In this case how do you know laminate planks were used?
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Old 02-12-2014, 05:01 PM   #14
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I would think this kind of selling method has been around since eons ago?
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Old 02-12-2014, 05:05 PM   #15
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Highjacking thread a little. Noobie starting to research condos. Is there specific site that rates builders and or tells you exactly what type of materials were used? In this case how do you know laminate planks were used?
Would like to know as well. Seems to me there isn't any reputable dealer that actually focuses on delivering value to the customer vs. cutting every corner to maximise margins...

From what I read so far (at least in some threads), almost all developers would hire experienced tradesmen to build showhome units and then use cheaper and less skilled labour to build the others.

Would be great to hear from some folks in the industry if there are any developers we could trust in terms of materials and craftsmanship.


Seems like wishful thinking.
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Old 02-12-2014, 05:09 PM   #16
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^ that's their business model!

materials, you could customize your unit if it hasn't been built (different brand appliances and flooring), but in terms of the craftsmanship, that's up to the company.
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Old 02-12-2014, 05:35 PM   #17
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There is hardly any guarantee, some companies would definitely have their own level of standards and therefore they are more trusted than others. Such is Polygon and Concord Pacific, to name 2 more recognized names in 604...

but on the other hand a lot of complications could come up. Sub-contracting and suppliers can cause issues with the quality as well. If you are buying used the track record (previous minutes, special levies and this new thing called depreciation report) should give you precedence if the building has any quality issues...

whereas in new homes you have to buy into the new home warranty program that is mandated in BC and you are covered if there are any building deficiencies. There is some kind of information in the building declaration but it is not comprehensive enough... The city can let you view the building plans with inclusion of cross sections of the intended structural and engineering information but....it just looks like gibberish to people who are not in the engineering field.

At the end of the day, it is more the location, the freehold interest than the so called "quality" of the structure, which is very subjective imo.

*This is just what I think, it is not a professional opinion as a realtor...
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Old 02-12-2014, 07:45 PM   #18
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subscribed for condo talk.
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Old 02-12-2014, 08:51 PM   #19
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I think you are mistaken that this development is located at 188 keefer PLACE. 188 keefer place is as you described, right next to the skytrain and T&T, but that already has been fully developed in the previous years.

This development is on the corner of main and keefer . 188 keefer STREET.

I do agree that the quality they use is shit. This is probably the first time WESTBANK ever used laminate planks... Not even laminate flooring.
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Whats the difference between laminate plank and laminate flooring?
Sorry complete noob.
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Old 02-12-2014, 09:25 PM   #20
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I just purchased a condo near YT for rental purposes after 2 months of getting into bidding wars. The market for condo's in the $360-$390k range is pretty strong especially in and around YT because the units are a good, low risk investment with good rental income to offset your mortgage payment.

The condo I got had been on the market for less than 24 hours, the realtor already had 4 showings, the interested parties were all Asian buyers looking for investment units. When I made a offer, the buyers had two offers sitting in front of them so I had to come in close to asking but finally got it.
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Old 02-13-2014, 12:58 AM   #21
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188 keefer websites features says laminate plank for thier lower end units and laminate for thier higher end units.

Laminate planks (aka vinyl planks) from a distance looks like laminate flooring as they also have wood grain/patterns on them. If you go check out these in flooring stores you can see that laminate planks are much thinner (5mm approx) and they are slightly flexable, made from vinyl. These can be used in bathrooms. They are typically glued down and doesnt need a underlayment for soundproofing, vinyl doesnt transfer sound like wood afterall.

Laminate flooring is made from fiberboards and immitates hardwood floor, but cheaper alternative.
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Old 02-13-2014, 09:42 AM   #22
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Wonder how this will affect the condo sales

Could scrapped immigrant program drop Vancouver home prices? | CTV Vancouver News
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Old 02-13-2014, 11:26 AM   #23
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^Probably zilch. That should only affect the upper-tier real-estate in Vancouver. Those millionaires likely weren't picking up tons of condo units. It would require them to hire someone to manage them all.
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Old 02-13-2014, 07:56 PM   #24
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There is hardly any guarantee, some companies would definitely have their own level of standards and therefore they are more trusted than others. Such is Polygon and Concord Pacific, to name 2 more recognized names in 604...

but on the other hand a lot of complications could come up. Sub-contracting and suppliers can cause issues with the quality as well. If you are buying used the track record (previous minutes, special levies and this new thing called depreciation report) should give you precedence if the building has any quality issues...

whereas in new homes you have to buy into the new home warranty program that is mandated in BC and you are covered if there are any building deficiencies. There is some kind of information in the building declaration but it is not comprehensive enough... The city can let you view the building plans with inclusion of cross sections of the intended structural and engineering information but....it just looks like gibberish to people who are not in the engineering field.

At the end of the day, it is more the location, the freehold interest than the so called "quality" of the structure, which is very subjective imo.

*This is just what I think, it is not a professional opinion as a realtor...
This is very informative. I have been starting researching about condos / townhouse
How do we request the city to disclose the building plan before buying it?
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Old 02-13-2014, 09:03 PM   #25
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Would like to know as well. Seems to me there isn't any reputable dealer that actually focuses on delivering value to the customer vs. cutting every corner to maximise margins...

From what I read so far (at least in some threads), almost all developers would hire experienced tradesmen to build showhome units and then use cheaper and less skilled labour to build the others.

Would be great to hear from some folks in the industry if there are any developers we could trust in terms of materials and craftsmanship.


Seems like wishful thinking.
I know from former past experience. Cressey and Polygon actually have a lot of their own construction workers under their own payroll. Unlike most developers that contract and subcontract out. It's more costly which is why I think these two have pretty well built towers imho, but their prices are on the high side. But i guess you get what you pay for.

Worst out of the bigger names is Aquilini. They contract and subcontract and dont pay attention to detail. Mother fucker is cheap as fuck. Cuts soo many corners. Having lived in a home built by them. Would never recommend to anyone. Also I know a lot of their buildings have leaks.
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