Property prices dropping

[Taipan]

As we have been told as nauseam, prices are increasing, Yee Ha.

Well around Thompsons yum cha bar, they are and according to a the bulls on this site that is all that matters.

The reality is BC is huge.

I’ve got many many examples of property prices falling 25% - 35%.

So maybe they should create a new forum. BC should remain unchanged.

And a new forum called 10km around Thompsons yum cha bar.

So how is the rest of BC going. Victoria, Nanaimo, Prince George, Kamloops, Kelowna and a dozen other regional areas?

The reality appears that apart from Thompsons Yum cha bar that property prices are falling across the province.

[instigator]

Of course they are. They and the rest of Canada were catching a ride off the areas desirability in the first place. Riding the coat tails means those areas were always a hyped up lie. However, metro van all the way out to langley is the real deal.

[thirdlittlepig]

Of course they are. They and the rest of Canada were catching a ride off the areas desirability in the first place. Riding the coat tails means those areas were always a hyped up lie. However, metro van all the way out to langley is the real deal.

So when the Okanagan "catches a ride" off rich Albertans, Americans, Europeans, it's fake, but when Vancouver "catches a ride" off China it's the real deal?
These other economies can slow or lose interest in the Okanagan, but China will never lose interest in Vancouver for some other part of the world?

[jesse1]

These other economies can slow or lose interest in the Okanagan, but China will never lose interest in Vancouver for some other part of the world?

By George, I think you've got it!

[eyesthebye]

Of course they are. They and the rest of Canada were catching a ride off the areas desirability in the first place. Riding the coat tails means those areas were always a hyped up lie. However, metro van all the way out to langley is the real deal.

So when the Okanagan "catches a ride" off rich Albertans, Americans, Europeans, it's fake, but when Vancouver "catches a ride" off China it's the real deal?
These other economies can slow or lose interest in the Okanagan, but China will never lose interest in Vancouver for some other part of the world?

folks buying homes to live in and raise their family is not = to folks buying recreation property. Now, if only the Okanagan were the choice of wealthy immigrants...

[registered]

folks buying homes to live in and raise their family is not = to folks buying recreation property. Now, if only the Okanagan were the choice of wealthy immigrants...

Beg the question much?

[fishguy15]

folks buying homes to live in and raise their family is not = to folks buying recreation property.

Oh the irony in that statement.

[vanreal]

As we have been told as nauseam, prices are increasing, Yee Ha.

Well around Thompsons yum cha bar, they are and according to a the bulls on this site that is all that matters.

The reality is BC is huge.

I’ve got many many examples of property prices falling 25% - 35%.

So maybe they should create a new forum. BC should remain unchanged.

And a new forum called 10km around Thompsons yum cha bar.

So how is the rest of BC going. Victoria, Nanaimo, Prince George, Kamloops, Kelowna and a dozen other regional areas?

The reality appears that apart from Thompsons Yum cha bar that property prices are falling across the province.

who cares about the rest of the province.

[Thompson]

And a new forum called 10km around Thompsons yum cha bar.
....The reality appears that apart from Thompsons Yum cha bar that property prices are falling across the province.

You claimed there was 25% correction for the market of Great Vancouver by the end of 2010; and then declared the crash will be in the "next spring" which is now. What happens then? Market goes up 25%. So that's all my fault, isn't it?

If you are a honest person, you might come out to admit the arror in your prediction; at least, hide yourself away under the rock. But no, .... look at your post here, what a shame!! If any ESL has a question about "jackass" in English, you are a clear answer.

[Taipan]

Yes you have a bubble Thompson. My arse isnt on the line. Your's is.

You are fully invested both physically, financially and emotionally.

A bubble is a massive and exciting opportunity for property investors that may only come along once in a lifetime.

Smart investors understand this. Poorer investors are merely rent collectors.

The astute players who really understand what they are doing and the economics, can profit massively.

The absolute worst thing that any investor can do is fall in love with their investment.

It is an investment and can be, and should be sold when super profits can be achieved.

Do you think that stock market investors dont sell at the top of a bubble, because they love their investment.

Thompson ill stick with economics, ill leave the ECL to you.

[Taipan]

So lets put up a few of those properties that dont sell and the prices keep dropping.

Lets look at MLS 102265. Originally 84210. On the market for 569 days so far. Originally listed at $1.4m. Now down to just $998,500


or this one.

MLS 103294. Originally 80161. On the market for 792 days. vendors cant sell. Originally $800,000. Now down to just $639,900.

Or this one.

MLS 78874. No change. On the market 1238 days. Price drop of $80,000 to $895,000

or another little one.

MLS 78860. On the maket 872 days. Originally Listed at $639000, and with 7 price reductions to $499,000.

Wouldnt you be kicking yourself if you listened to the bulls and bought at the top of the market?

[thirdlittlepig]

There's a very nice acreage near me (one example among many)that has been on the market for at least two years, five acres, nice home,nice neighborhood, deck, lovely lake/valley view, country but close to town (5 minutes) and skiing (25 minutes). Originally listed at $959,k ,getting down now to $839,k. Still no takers because you can get 10 acres with a nice house for under a Mill now, or 5 for a lot less. These are getting back to pre 2007 prices now. And, the okanagan would not want to see a bunch of absentee, rich foreign investors buy stuff up and drive up prices. While there were plenty of Albertans owning recreational property, there were also a lot of families and retirees who actually live here and enjoy the wonderful natural activites golf, skiing, boating, hiking,biking, camping,farming, horseriding, fishing, and terrific weather, all within a relatively short drive, and virtually no traffic, freeways, heavy industry, or crowds. People are friendly, neighbors would go that extra mile for a neighbor in need, or even a stranger in need for that matter, and you can talk to folks in the language of your chosing and still understand each other. Almost everyone is an immigrant,or from parents who were immigrants, but it makes no difference, no racial tensions. People just raise their kids, work, play and enjoy life. In general, people do not want tons of fast development or the high prices that come with it. Absentee owners who don't contribute to the community or play well with others, are not welcome or desired here, most everyone is actually quite relieved that the days of crazy speculation seem to be over and prices can come down out of the stratosphere. No one feels too sorry for the speculators who seem to be left holding one or more properties because they really did nothing to help the community. We are left with some large infrastructure bills due to the expansion that did happen, but the municipality is going to have to figure out how to reign in their spending instead of just expecting to build more and bigger developments. I can't see how pushing family homes up into the million dollar range would do anything to help any town's economy.
We are pushing to have adequate hospital facilities, but the province is balking. Suddenly they are talking about what they can "afford". Seems I never heard that when the Olympics was being funded for crazy high amounts of money. It was going to help the whole province remember? Now after blowing their wad on the Olympics, suddenly they are talking about what they can "afford". Give me a break. I could swallow that if they hadn't just thrown the most expensive useless two week party for rich people, that did us no good whatsoever. My taxes went to pay for the olympics (and still are), so they can damnwell stock and staff our hospital at an adequate level.

[MikeStewartRealtor]

Vancouver ain't falling. If the action on my listings is any indicator, the opposite is true.

[ppan]

So lets put up a few of those properties that dont sell and the prices keep dropping.

Lets look at MLS 102265. Originally 84210. On the market for 569 days so far. Originally listed at $1.4m. Now down to just $998,500


or this one.

MLS 103294. Originally 80161. On the market for 792 days. vendors cant sell. Originally $800,000. Now down to just $639,900.

Or this one.

MLS 78874. No change. On the market 1238 days. Price drop of $80,000 to $895,000

or another little one.

MLS 78860. On the maket 872 days. Originally Listed at $639000, and with 7 price reductions to $499,000.

Wouldnt you be kicking yourself if you listened to the bulls and bought at the top of the market?

I am helping my mother in law shopping for a house in Coquitlam or Surrey, but the owners are sturbborn as hell. She has a budget of $700k, but it can not get her very far for a newer detached house. Often sellers want $50K above asking price/$100K+ over assessment value. I understand you can argue that the market is cooling down. That is what I want to see too. But in reality, I found it very difficult to find an ok deal.

[eyesthebye]

So lets put up a few of those properties that dont sell and the prices keep dropping.

Lets look at MLS 102265. Originally 84210. On the market for 569 days so far. Originally listed at $1.4m. Now down to just $998,500


or this one.

MLS 103294. Originally 80161. On the market for 792 days. vendors cant sell. Originally $800,000. Now down to just $639,900.

Or this one.

MLS 78874. No change. On the market 1238 days. Price drop of $80,000 to $895,000

or another little one.

MLS 78860. On the maket 872 days. Originally Listed at $639000, and with 7 price reductions to $499,000.

Wouldnt you be kicking yourself if you listened to the bulls and bought at the top of the market?

I am helping my mother in law shopping for a house in Coquitlam or Surrey, but the owners are sturbborn as hell. She has a budget of $700k, but it can not get her very far for a newer detached house. Often sellers want $50K above asking price/$100K+ over assessment value. I understand you can argue that the market is cooling down. That is what I want to see too. But in reality, I found it very difficult to find an ok deal.

yes, sellers are very stubborn here.