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tdma800
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Re: Vancouver indvidual property sales details

Mon Mar 20, 2017 11:22 am

yzfr1 wrote:
eyesthebye2 wrote:
I dont always have time for this. I assure you, if I did I can post multiple over asking sales.

1156 pender street east
2035sqft detached built 1925
25x122 RT-3 lot
Asking $1,399,000
Sold $1,570,000 on 13-March
This lovely 3 suite revenue property in Strathcona is steeped with character! On the main you will find a 2 bdrm suite w/ a large open master bdrm in the attic. Basement suite consists of a 1 bdrm & den w/ 8 ft ceilings. The cottage/coach house provides an additional 1 bdrm suite w/ radiant in-floor heating. Home was completely renovated in 2001 including: new plumbing, new roof & drain tiles, new gas & sewer line, new electrical and new slab in both the basement suite & in cottage/coach house. All 3 suites have their own washer/ dryer. Off the back porch is a beautifully landscaped south-facing back yard. Great block: steps from central Strathcona, schools, transit and recreation. One block to bike route. Listed By: SUTTON GRP-WEST COAST (BRDWY)



BTW this house was purchased May/6/2014 for $910,000

$1,570,000 - $910,000 = $660,000

A whopping 72% ROI  / $220,000 a year.


Anyone with functional gray matter up there would know that a person doesnt need to pay taxes when they buy a house to live in and sell.  You're allowed to rent out your own home as well    And intelligent people know that agents dont make all that much in BC.  Rates here are half of what they are in Ontario and most of the US.
 
tdma800
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Re: Vancouver indvidual property sales details

Mon Mar 20, 2017 11:24 am

westcoastfella wrote:
reallyreal2 wrote:
yzfr1 wrote:
Burden of proof

The burden of proof (Latin: onus probandi) is the duty of a party in a trial to produce the evidence that will shift the conclusion away from the default position, to that party's own position. In a legal dispute, one party is initially presumed to be correct and gets the benefit of the doubt, while the other side bears the burden of proof. When a party bearing the burden of proof meets their burden, the burden of proof switches to the other side. Burdens may be of different kinds for each party, in different phases of litigation. The burden of production is a minimal burden to produce at least enough evidence for the trier of fact to consider a disputed claim.[1]:16-17 After litigants have met the burden of production and their claim is being considered by a trier of fact, they have the burden of persuasion, that enough evidence has been presented to persuade the trier of fact that their side is correct. There are different standards of persuasiveness ranging from a preponderance of the evidence, where there is just enough evidence to tip the balance, to proof beyond a reasonable doubt, as in United States criminal courts.


is the duty of a THE BEARS in a trial to produce the evidence that will shift the conclusion away from the default position, to that party's own position.

It's not up to ETB to keep posting sales above asking to prove the market is not crashing / tanking / adjusting. It's a established fact that the market has been hot for the past 10+ years. However naysayers and bears claim the market is crashing but provide no actual argument nor any actual evidence.

Case in point, ReallyReal2 makes a accusation to try to discredit ETB post by claiming the price was reduced. (No citation provided) and that the sales represent prices no where near peak (Again no citation provided)

The least you can do is cherry pick some distress sales. At this point most of us don't need to price to continue to go up. We have so much equity there is already a huge buffer. Guys who are in the market can continue with the status quo for the next 10 years if prices continue to hover in this range. It's the bears who are sitting on the sideline that will feel the pain not able to enter the market.

At what point do bears just give up and say they don't know what they are talking about. Can we set a deadline? 6+ months? If the market is still trading the 1.3 / 1.5 million range. Can the bears take some responsibility.

 


Market is in shambles - just open your eyes.  

No sales - tonnes of listings.  ETB can continue writing his fiction novel.  Won't help the realtors who are desperate for commissions

could be a recent development, but I'm definitely seeing more sold signs over the past couple of weeks along my bike route into downtown...  pretty small sample size, but a sample nonetheless.

Anyone that actually gets out of the stereotypical parents basement know there are dogs(literally dogs not unnamed individuals on this board) at YVR that are employed to smell money, and anything over a piddly amount wired in is sent all over the place.   Anything other than that is so stealth its not even funny. Not plain at all. A person that signs a contract with an experienced licensee can obtain the sales they want.
 
yzfr1
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Re: Vancouver indvidual property sales details

Mon Mar 20, 2017 11:33 am

reallyreal2 wrote:
yzfr1 wrote:
eyesthebye2 wrote:
I dont always have time for this. I assure you, if I did I can post multiple over asking sales.

1156 pender street east
2035sqft detached built 1925
25x122 RT-3 lot
Asking $1,399,000
Sold $1,570,000 on 13-March



BTW this house was purchased May/6/2014 for $910,000

$1,570,000 - $910,000 = $660,000

A whopping 72% ROI  / $220,000 a year.

Since you are a smarty-pants, you will know that ROI means Return on INVESTMENT.  One pays taxes on investments.

If this sale was sheltered b/c of PR exemption, this person is either now renting or buying another house at today's prices.  It's a lateral move.  Hard to fathom, I know.

Only people making money are realtors when this happens - after a two week course, you could also get a commission for ripping off clients.   :D



I assume its a investment because from the discription the house was set up with 3 rental suites and marketed as income property. However I don't claim to be clairvoyant.

I will pay taxes all day long if I have to, paying taxes means im earning money.
 
tdma800
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Re: Vancouver indvidual property sales details

Mon Mar 20, 2017 11:38 am

http://www.nolo.com/legal-encyclopedia/ ... usion.html

Americans have quite a small exemption for their primary residence

its not necessary to pay taxes to make a profit in Canada if you buy the right things.
 
reallyreal2
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Re: Vancouver indvidual property sales details

Mon Mar 20, 2017 11:45 am

Silly to pay taxes when you can invest in a TFSA and pay zero taxes.

Clearly former owners think that market has peaked as they no longer want anything to do with this investment.  Normally a bad sign when people running for the exits.
 
tdma800
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Re: Vancouver indvidual property sales details

Mon Mar 20, 2017 11:49 am

yzfr1 wrote:
reallyreal2 wrote:
yzfr1 wrote:

BTW this house was purchased May/6/2014 for $910,000

$1,570,000 - $910,000 = $660,000

A whopping 72% ROI  / $220,000 a year.

Since you are a smarty-pants, you will know that ROI means Return on INVESTMENT.  One pays taxes on investments.

If this sale was sheltered b/c of PR exemption, this person is either now renting or buying another house at today's prices.  It's a lateral move.  Hard to fathom, I know.

Only people making money are realtors when this happens - after a two week course, you could also get a commission for ripping off clients.   :D



I assume its a investment because from the discription the house was set up with 3 rental suites and marketed as income property. However I don't claim to be clairvoyant.

I will pay taxes all day long if I have to, paying taxes means im earning money.

You're allowed(in Canada) to have suites in your primary residence and to rent them out.
 
tdma800
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Re: Vancouver indvidual property sales details

Mon Mar 20, 2017 11:50 am

reallyreal2 wrote:
Silly to pay taxes when you can invest in a TFSA and pay zero taxes.

Clearly former owners think that market has peaked as they no longer want anything to do with this investment.  Normally a bad sign when people running for the exits.

A tfsa is a very limited instrument
as usual, you are wrong
You can put in as much as you like into your mortgage and the tax free income from paying less interest and upon sale of the home far exceeds any amount you can put into a $5,000 a year tfsa
 
reallyreal2
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Re: Vancouver indvidual property sales details

Mon Mar 20, 2017 11:50 am

eyesthebye2 wrote:
Ok one argument with ETB, than I'm out for a while
How is Real Estate any different???  


Dont be naive.
Stock market is for making money. If there is no money to be made there are no buyers.
Housing has function.
There are locations all over N America whete housing never appreciates...yet there are still ample buyers.
Thats why I dont trust stocks. Eventually the music will stop and stockholders will be left without a chair to sit on.

Yet another day has gone by and ETB has been proven wrong once again re: the stock market.  No crash - music continues playing.  The market is doing just fine and confidence is sky high.
Pretty sad the envy ETB shows of those that not only understand the market but also have gotten rich with it. 
 
tdma800
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Re: Vancouver indvidual property sales details

Mon Mar 20, 2017 11:52 am

Its not well known however Canadians can even have a home in the USA as a primary residence.

For homes in Canada you can even have a suite in your own residence with a high ratio mortgage even if you bought it as an investment as long as you are living in it.
 
eyesthebye2
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Re: Vancouver indvidual property sales details

Tue Mar 21, 2017 8:38 pm

1055 east 50th ave
1132sqft detached built 1942
33x130 RS-1 lot
Asking $1,380,000
Sold $1,438,000 on 13-March-2017

Extremely RARE opportunity! Once in a lifetime! 33x130 lot! A delightful cozy home located in nice quiet area of EAST 50th street. Solid and well maintained livable 2 bdrms bungalow. Builder and investor alert! Great opportunity to build a brand new home with a beautiful view! You will find this charming property is close to Fraser and 49th Street, within 7 mins of walking distance, you will find all amenities including groceries, bank, restaurants, school and public transit #8 (Fraser to Downtown). 2 mins to public transit #49 (UBC to Metrotown). Very easy to show. ACT fast. OPEN HOUSE, SAT/SUN, MARCH 11/12, 3-5PM.
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eyesthebye2
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Re: Vancouver indvidual property sales details

Tue Mar 21, 2017 8:42 pm

646 east 62nd ave
1474sqft detached built 1953
41x132 RS-1 lot
Asking $1,588,000
Sold $1,613,000 on 8-March-2017

LAND 41.80 X 132.00, 5517 SQ/ FT. Fraser at 62nd Ave. Price at land value only. 2017 BC Assesment $1,699,100.00
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eyesthebye2
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Re: Vancouver indvidual property sales details

Tue Mar 21, 2017 8:47 pm

1748 east 46th ave
2205sqft detached built 1978
33x110 RS-1 lot
Asking $1,599,000
Sold $1,650,000 on 6-March-2017

Newly renovated house in desirable Killarney Vancouver. Beautifully done with permits, updates include: New kitchen, flooring, windows, electrical & plumbing, Large front & back decks. Conveniently located by the popular Victoria Drive area, with restaurants, shopping, groceries, banks & transit. Steps away from large green space and outdoor playground at nearby Tecumseh Park. Separate entrance and laundry for tower floor. Attached 346 SF double garage, can also be used for extra storage space, or large work area. School Catchment: Tecumseh Elementary, David Thompson Secondary (French Immersion - Sir James Douglas/Laura Secord). OPEN HOUSE MARCH 4&5 2-4pm
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yzfr1
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Re: Vancouver indvidual property sales details

Tue Mar 21, 2017 9:21 pm

It just occurred to me. Quite a few sales are old time tear downs. Usually devloperes are buying those to build new homes. Buying 1950 old home to renovate isn't as common I would think.

Having said that I wonder if the pickup in sales are developers making use of the slump in market and picking up discount lots.

So units are not actually going to end users.

My theory is developers will be the first ones to go belly up because they will be the ones left with unsold developed properties if the market takes a dive.

Could this be a indication?
 
eyesthebye2
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Re: Vancouver indvidual property sales details

Tue Mar 21, 2017 11:55 pm

Having said that I wonder if the pickup in sales are developers making use of the slump in market and picking up discount lots.


For years I've said that it's the developers that will be the first to step in and provide a floor to falling prices.
I'm not sure that's what's happening here. There are other sales on newer or renovated homes that I'm not posting. I'm most interested in the value of these older homes since they represent the most affordable detached that can be found.
My criteria:
-older home
- at least standard size lot
- not on a busy street.
These homes would be what the avg. Joe on this site would be looking for.
My aim is to show that the avg. Joe is still in tough to afford a pretty basic house.

That said, at current mortgage rates I dont think any developer is stretching themselves too much to hold these properties for a year or so. They know the market can't stay down for long.
Last edited by eyesthebye2 on Wed Mar 22, 2017 6:57 am, edited 1 time in total.
 
tdma800
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Re: Vancouver indvidual property sales details

Wed Mar 22, 2017 5:27 am

Lots of people buy old homes to renovate . And some people like newer homes

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