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Justice
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Posts: 25
Joined: Fri Mar 01, 2013 7:14 pm

Re: Is it me or is the Westside getting creamed?

Sun Mar 10, 2013 9:59 pm

nsguy wrote:
403 West 19th
Original ask was $2,288,000 in June last year, then was terminated in Oct last year, then Re listed for $2,488,000 in May this year, and now reduced to $2,388,000. Land was purchased for $1,322,000 in March last year.


Hi Everyone, first post here, inspired by seeing this property back on the market (after sitting) empty for months. New list is $2,188,000.
 
timber2012
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Re: Is it me or is the Westside getting creamed?

Tue Mar 19, 2013 9:23 am

4619 W14th Ave in the ultra desirable Point Grey.

Originally listed for $2.480M. Sold for $2.120M. Over the most recent ask. Under their ask from 2012.

They paid $2.23 in September 2011. Lost $110K in 18 months. And who was it that said renting was like flushing money down the toilet.
George Carlin once said "Think of how stupid the average person is, and realize half of them are stupider than that.”
 
rofina
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Joined: Fri Feb 06, 2009 6:39 pm

Re: Is it me or is the Westside getting creamed?

Tue Mar 19, 2013 10:07 am

timber2012 wrote:
4619 W14th Ave in the ultra desirable Point Grey.

Originally listed for $2.480M. Sold for $2.120M. Over the most recent ask. Under their ask from 2012.

They paid $2.23 in September 2011. Lost $110K in 18 months. And who was it that said renting was like flushing money down the toilet.


This is why Vancouver is so crazy.

It takes some deep pockets to "day trade" RE like this and be comfortable to walk away with a 110k loss. It would take most Vancouverites a decade to save $110,000.
 
fishguy15
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Re: Is it me or is the Westside getting creamed?

Tue Mar 19, 2013 10:11 am

That $110k does not even take into account transactional costs. :wink:
 
rofina
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Re: Is it me or is the Westside getting creamed?

Tue Mar 19, 2013 10:19 am

fishguy15 wrote:
That $110k does not even take into account transactional costs. :wink:


Yikes! Didn't even notice that!

Van RE is so perplexing, why not take a shot in the dark and throw $2,000,000 at random REIT and at least yield something. I guess it always goes back to the favourite bull mantra, "cant live in a REIT."
 
thinktom
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Posts: 1694
Joined: Tue Jan 16, 2007 2:51 pm

Re: Is it me or is the Westside getting creamed?

Wed Mar 20, 2013 8:10 am

rofina wrote:
fishguy15 wrote:
That $110k does not even take into account transactional costs. :wink:


Yikes! Didn't even notice that!

Van RE is so perplexing, why not take a shot in the dark and throw $2,000,000 at random REIT and at least yield something. I guess it always goes back to the favourite bull mantra, "cant live in a REIT."


Because nobody loses money in stocks, bonds or trusts. :roll:
 
timber2012
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Re: Is it me or is the Westside getting creamed?

Wed Mar 20, 2013 8:22 am

thinktom wrote:
rofina wrote:
fishguy15 wrote:
That $110k does not even take into account transactional costs. :wink:


Yikes! Didn't even notice that!

Van RE is so perplexing, why not take a shot in the dark and throw $2,000,000 at random REIT and at least yield something. I guess it always goes back to the favourite bull mantra, "cant live in a REIT."


Because nobody loses money in stocks, bonds or trusts. :roll:


Who said that?
George Carlin once said "Think of how stupid the average person is, and realize half of them are stupider than that.”
 
HAM
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Posts: 836
Joined: Sun Feb 12, 2012 1:21 pm

Re: Is it me or is the Westside getting creamed?

Wed Mar 20, 2013 8:34 am

Tom,

There's a huge difference in the data for Richmond. Check out these neighborhoods in the stats center.

Riverdale, Seafair, and Terra Nova.
Can you post the avg,median, and hpi for these areas?
Why are they giving a different story?

Thanks,
So jimmy said I missed the dip in Richmond last year. And now prices have fallen even more with no balance in sight! The poor old man is just too old and grumpy!
 
thinktom
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Re: Is it me or is the Westside getting creamed?

Wed Mar 20, 2013 3:49 pm

HAM wrote:
Tom,

There's a huge difference in the data for Richmond. Check out these neighborhoods in the stats center.

Riverdale, Seafair, and Terra Nova.
Can you post the avg,median, and hpi for these areas?
Why are they giving a different story?

Thanks,


I don't sell in Richmond... nor do I like driving in Richmond. Knock yourself out, HAM.
 
timber2012
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Re: Is it me or is the Westside getting creamed?

Fri Apr 05, 2013 9:21 am

6399 Carnarvon St. - sold for $2.4M. Last sale was $2.4M in September of 2009.

This house's starting asking price was $3.78M.

4478 Haggart St. - sold for $2.887M. Most recent asking was $3.288M.

The starting asking was $3.88M.

This thread was very slow in late February and March. Now I'm starting to see some discounting and sales which are way off ask. Has the momentum stopped? Or just outliers?

Thoughts?
George Carlin once said "Think of how stupid the average person is, and realize half of them are stupider than that.”
 
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WhipMaster
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Re: Is it me or is the Westside getting creamed?

Fri Apr 05, 2013 9:42 am

Note to the Neophytes in this forum (and there are a lot of them who have been here for a long time).... real estate doesn't always go up. It can go down. If you don't have enough equity, and the prices go down, you could be in trouble if you have to sell.
Whocuddanode??? :lol:
So please remember.... proceed with caution. :mrgreen:
Hoo~Cudda~Not~Nod~ed????? :-)
 
timber2012
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Re: Is it me or is the Westside getting creamed?

Fri Apr 05, 2013 10:16 am

Of course real estate goes up, goes down or can be flat.

This particular thread is of interest to me because:

1) I am fascinated how west side real estate goes up and down faster than some stocks I own;
2) I like speculating on the reasons that it goes up and down;
3) I think that the west side is a leading indicator for the rest of the city.

For example - the $2.4M sale doesn't pass the smell test with me. Seems fishy. Too bad that guy johnny horton wasn't around anymore - from what I gather, he seemed pretty bright and might have offered some insight into these sales other than houses go up and houses go down :D
George Carlin once said "Think of how stupid the average person is, and realize half of them are stupider than that.”
 
timber2012
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Re: Is it me or is the Westside getting creamed?

Tue Apr 09, 2013 10:34 am

I started this thread about 1 year ago - since then I've noticed that it's gotten worse and then a little better.

At the outset of April, I've noticed the same signs that I noticed in early 2012.

30 sold listings. None over ask. Lots of listings selling for multiple hundred thousand under ask.

In addition, there has been 37 price changes. All but 1 a reduction. Most are reducing by $100K. some by multiples of that.

Generally - lots of seller are willing to take 2011 prices on their properties. In February and March it seemed that the westside was going to rebound - lots of strong sales. Now - I'm not so sure.
George Carlin once said "Think of how stupid the average person is, and realize half of them are stupider than that.”
 
timber2012
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Re: Is it me or is the Westside getting creamed?

Wed Apr 10, 2013 2:20 pm

2755 W42nd Ave.

Asking originally $1.898. sold for $1.677M. They paid $1.7M in 2011 and you should see the before and after pictures.

This owner clearly didn't get the memo.
George Carlin once said "Think of how stupid the average person is, and realize half of them are stupider than that.”
 
reallyreal2
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Posts: 650
Joined: Fri Jun 03, 2016 11:30 am

Re: Is it me or is the Westside getting creamed?

Thu Aug 25, 2016 1:50 pm

So who thinks this thread will become relevant again?

Perusing the thread I note that there weren't many realtors giving insight on it - wonder why?   :D

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