This is a friendly, interactive exchange of information on all Real Estate related subjects. Follow on Twitter: @RETALKS


Moderator: admin

 
tdma800
Real Estate Talker
Posts: 2977
Joined: Wed Jan 23, 2008 9:12 am
Contact:

Re: Vancouver indvidual property sales details

Tue Nov 24, 2015 2:25 pm


All of it! The nicer US cities are not cheap either. New York San Francisco Boston There are always the less desirable places though just like in Canada.
property taxes are super high in the US as well
 
Geyser
Real Estate Talker
Posts: 3569
Joined: Tue Jun 05, 2012 5:26 pm
Location: In a van down by the river
Contact:

Re: Vancouver indvidual property sales details

Wed Nov 25, 2015 1:09 pm

"Geyser"
The difference is that my local realestate holdings were purchased a very long time ago at much lower prices. Young couples today do not have that option. You were lucky enough to get in before the lot value of your run down old Eastside house shot up in value. If you were shopping today you would be locked out of even that less than desirable area. Then what would you do? Presumably you would settle for paying the rent on your basement suite instead of collecting it, but many others have the option to move south and, as attractive as Vancouver is, many young folks dream of home ownership. That dream is currently unattainable for a lot of them unless they look to other markets.

Would you prefer to be a lifetime renter in Vancouver or a homeowner in one of the nicer US locations?

I merely pointed out that many young professional couples have the option to move south to a better climate and vastly cheaper housing markets. Doubtless some will continue to live here as renters but, if prices don't return to historical relationships with incomes, the attraction to US markets will continue to grow stronger.

Which part of that do you find "incredibly stupid"?
Vanreal:
All of it! The nicer US cities are not cheap either. New York San Francisco Boston There are always the less desirable places though just like in Canada.
Yes, you can cherry pick US cities where property prices are also very high, but on a global basis only Hong Kong is less affordable to locals than Vancouver. Remember that when your income is higher the affordability is easier, and the USA is awash with cities which offer much cheaper housing, not only on a dollar for dollar comparison, but more importantly on an income to price ratio.

I suggest you check out some nice US places like San Diego, San Luis Obispo, Monterey, Portland, or any of dozens of other really nice places in the US with much lower property prices, much better weather and tax deductable mortgages fixed for 30 years.

I continue to stand by my "incredibly stupid" suggestion that some young professionals with the opportunity to relocate to those attractive locations might well be tempted to move.

Please explain why it is "incredibly stupid" to suggest that some (many?) young professionals who are priced out of our local market might be attracted by the chance of home ownership and the various other advantages offered down south.
In fond memory of Taipan, a model of modesty, decency, dignity and tolerance. Long may we all prosper from the tremendous legacy of worldly wisdom and specialized real estate knowledge which he left in the "Arguments" thread.
 
tdma800
Real Estate Talker
Posts: 2977
Joined: Wed Jan 23, 2008 9:12 am
Contact:

Re: Vancouver indvidual property sales details

Wed Nov 25, 2015 2:01 pm

americans have to pay tax when they sell their home
 
Geyser
Real Estate Talker
Posts: 3569
Joined: Tue Jun 05, 2012 5:26 pm
Location: In a van down by the river
Contact:

Re: Vancouver indvidual property sales details

Wed Nov 25, 2015 6:25 pm

americans have to pay tax when they sell their home
Big deal! At least Americans in most cities can actually afford to buy a home.

Typical young professionals in Vancouver are priced out of the market so a capital gains tax on a home they can't have is a moot point. If they go south they can buy a nice home for a lot less money, plus their mortgages are fixed rate for 30 years, plus their mortgage interest is tax deductible.
In fond memory of Taipan, a model of modesty, decency, dignity and tolerance. Long may we all prosper from the tremendous legacy of worldly wisdom and specialized real estate knowledge which he left in the "Arguments" thread.
 
vanreal
Real Estate Talker
Posts: 959
Joined: Mon Feb 20, 2006 7:15 pm
Contact:

Re: Vancouver indvidual property sales details

Thu Nov 26, 2015 1:03 pm

"Geyser"
The difference is that my local realestate holdings were purchased a very long time ago at much lower prices. Young couples today do not have that option. You were lucky enough to get in before the lot value of your run down old Eastside house shot up in value. If you were shopping today you would be locked out of even that less than desirable area. Then what would you do? Presumably you would settle for paying the rent on your basement suite instead of collecting it, but many others have the option to move south and, as attractive as Vancouver is, many young folks dream of home ownership. That dream is currently unattainable for a lot of them unless they look to other markets.

Would you prefer to be a lifetime renter in Vancouver or a homeowner in one of the nicer US locations?

I merely pointed out that many young professional couples have the option to move south to a better climate and vastly cheaper housing markets. Doubtless some will continue to live here as renters but, if prices don't return to historical relationships with incomes, the attraction to US markets will continue to grow stronger.

Which part of that do you find "incredibly stupid"?
Vanreal:
All of it! The nicer US cities are not cheap either. New York San Francisco Boston There are always the less desirable places though just like in Canada.
Yes, you can cherry pick US cities where property prices are also very high, but on a global basis only Hong Kong is less affordable to locals than Vancouver. Remember that when your income is higher the affordability is easier, and the USA is awash with cities which offer much cheaper housing, not only on a dollar for dollar comparison, but more importantly on an income to price ratio.

I suggest you check out some nice US places like San Diego, San Luis Obispo, Monterey, Portland, or any of dozens of other really nice places in the US with much lower property prices, much better weather and tax deductable mortgages fixed for 30 years.

I continue to stand by my "incredibly stupid" suggestion that some young professionals with the opportunity to relocate to those attractive locations might well be tempted to move.

Please explain why it is "incredibly stupid" to suggest that some (many?) young professionals who are priced out of our local market might be attracted by the chance of home ownership and the various other advantages offered down south.
You make it sound like it's a simple matter of driving across the border and buying a house. Get real. I have worked in the past for several years in the U.S. as a professional and it's a huge amount of work in order to make it happen. The U.S. generally doesn't want foreigners moving to their country and taking jobs. They make it hard to do that. This is not a option for 95% of young Canadians. So yes it's incredibly stupid. Also the towns the you mentioned are nice places to live abut they aren't the A list towns. America does have cheaper places to live that are nice. Canada doesn't. If you don't live in Toronto or Vancouver, then the pickins are slim to none. Montreal might be an option except the the language and the snow.
 
tapioca
Real Estate Talker
Posts: 1038
Joined: Wed Feb 15, 2006 6:20 am
Contact:

Re: Vancouver indvidual property sales details

Thu Nov 26, 2015 1:52 pm

geyser also forgot to factor in the issues with health insurance, random mass gun crime, and public schools down there. i suspect once you factor in those costs it's a wash.
 
eyesthebye2
Real Estate Talker
Posts: 1207
Joined: Sun Jul 27, 2014 6:41 am
Contact:

Re: Vancouver indvidual property sales details

Thu Nov 26, 2015 10:31 pm

250 22ND AVE E
MLS® R2015445
2690sqft detached built 1983
33x122 lot
asking $1,499,000
sold for $1,750,000 on 23-Nov after 7 days on the market
New to the market is this fantastic family home located in the heart of the trendy Main Street Corridor. You will love the spacious functional layout boasting 3 bedrooms and 2 bathrooms on the top floor, featuring a gourmet kitchen with stainless steel appliances, an oversized deck off the eating area, and a beautiful newly renovated bathroom. Bonus includes a fabulous 3 bedroom suite below - your perfect mortgage helper! This dream home offers an amazing opportunity for a family looking to be on a quiet street in the ultimate East Van location, just steps away from Main Street, David Livingstone Elementary, Prince Edward Park, restaurants and shopping! This will not last!! Call us today! Open House Sat/Sun Nov21/Nov 22, 2-4pm Listed By: MACDONALD REALTY LTD.
Attachments
250 east 22nd ave.jpg
250 east 22nd ave.jpg (100.14 KiB) Viewed 5335 times
 
Geyser
Real Estate Talker
Posts: 3569
Joined: Tue Jun 05, 2012 5:26 pm
Location: In a van down by the river
Contact:

Re: Vancouver indvidual property sales details

Fri Nov 27, 2015 5:21 pm

ETB2 wrote:
You make it sound like it's a simple matter of driving across the border and buying a house. Get real.
No, that's not what I said. I said many young professionals have the opportunity to move south.

ETB2:
I have worked in the past for several years in the U.S. as a professional and it's a huge amount of work in order to make it happen. The U.S. generally doesn't want foreigners moving to their country and taking jobs. They make it hard to do that.
That may be because your definition of a "professional" is at variance with the definition used by US Immigration. The term "professional" is grossly overused and abused by semi-skilled workers, especially amongst government employees. We even see realtors using the term. :roll:

ETB2:
This is not a option for 95% of young Canadians. So yes it's incredibly stupid.
I never said it was! I said that "many young professionals" have that opportunity, you are the one who appears to think that 95% of young Canadians fit that definition. Now that really is incredibly stupid! :lol:

ETB2:
Also the towns the you mentioned are nice places to live abut they aren't the A list towns. America does have cheaper places to live that are nice. Canada doesn't. If you don't live in Toronto or Vancouver, then the pickins are slim to none. Montreal might be an option except the the language and the snow.
How do you define an "A list town"? Are you suggesting that Vancouver is similar to New York, or San Francisco, or even Toronto?

I love Vancouver (despite its cold and soggy winters) but if I was a young (real) professional who was feeling locked out of the local realestate market, I could think of a lot of places on this planet which would be more attractive to me. San Diego and Portland are just two of many places which could easily make my short list.

BTW, I'm not sure why the Americans gave you such a hard time but I can tell you from personal experience that Under NAFTA both "professional" and management level international transfers within corporations are easy if you have the required skills. Look up US TN Visa, they are good for 3 years and are renewable after that.

You really should think before you brand other people's observations as "incredibly stupid", otherwise folks might think the description is better suited to you. :D
In fond memory of Taipan, a model of modesty, decency, dignity and tolerance. Long may we all prosper from the tremendous legacy of worldly wisdom and specialized real estate knowledge which he left in the "Arguments" thread.
 
HomelessinSD
Real Estate Talker
Posts: 600
Joined: Tue Jun 15, 2004 2:12 pm
Contact:

Re: Vancouver indvidual property sales details

Fri Nov 27, 2015 6:11 pm

From personal experience, getting a work visa in the US is neither "easy" nor is it overly "difficult", that is if you qualify.

The H1B visas are not that difficult to obtain for many jobs: just need an employment offer and fail into the proper classification. Lots of nurses, teachers, engineers, etc can get such permits. I wouldn't even consider these "professionals" in the traditional sense. The T1 visas have a different set of rules, but are certainly obtainable if you qualify.

Only like to add the comment that many of the cities mentioned also offer significantly better professional advancements than the somewhat limited opportunities in Canada.
 
vanreal
Real Estate Talker
Posts: 959
Joined: Mon Feb 20, 2006 7:15 pm
Contact:

Re: Vancouver indvidual property sales details

Fri Nov 27, 2015 9:46 pm

Geyser. Don't cherry pick your comments. You indicated that young Canadians shouldn't buy in Vancouver but instead move to the US for a third of the costs of buying a house. I pointed out that this is not an option for the vast majority. You agreed with me in your last post. Therefore your post was stupid. Now go away.
 
Geyser
Real Estate Talker
Posts: 3569
Joined: Tue Jun 05, 2012 5:26 pm
Location: In a van down by the river
Contact:

Re: Vancouver indvidual property sales details

Sat Nov 28, 2015 2:59 pm

Geyser. Don't cherry pick your comments. You indicated that young Canadians shouldn't buy in Vancouver but instead move to the US for a third of the costs of buying a house.
Once again you misquote me, I indicated that "many young professionals" have that option. That is a fact.

Here are my exact original words:
"Either condos/townhomes in the distant burbs or ratty old crack shacks on the Eastside and fill them up with basement dwellers. Neither solution sounds very desirable for couples with kids and certainly isnt good for the future of the city.

Many professional couples have the option to relocate to some of the better parts of the US where they can pick up beautiful modern homes in excellent locations for a small fraction of the price of one of our equally well located condos or a scruffy SFH in the wrong part of town. Not a difficult choice!"


Vanreal wrote:
I pointed out that this is not an option for the vast majority. You agreed with me in your last post. Therefore your post was stupid. Now go away.
Where did I suggest that the "many professional couples who have the option to relocate" are the "vast majority"?

You really need to be clear about other people's actual comments before you attack. Feel free to disagree with what I write but keep in mind that when you attack things which you mistakenly think I wrote rather than what I actually wrote, it kinda makes you look like the stupid one. But that's okay, you amuse me. What's next - "my daddy's bigger than your daddy"? :lol:
In fond memory of Taipan, a model of modesty, decency, dignity and tolerance. Long may we all prosper from the tremendous legacy of worldly wisdom and specialized real estate knowledge which he left in the "Arguments" thread.
 
Geyser
Real Estate Talker
Posts: 3569
Joined: Tue Jun 05, 2012 5:26 pm
Location: In a van down by the river
Contact:

Re: Vancouver indvidual property sales details

Sat Nov 28, 2015 3:18 pm

Here is the information regarding TN Visa requirements:
The visa category "Professionals Under the North American Free Trade Agreement" (also known as a TN Visa) is available only to citizens of Canada and Mexico, under the terms of the North American Free Trade Agreement (NAFTA).

Qualifications for a "TN" visa

A citizen of a NAFTA country may work in a professional occupation in the U.S. provided:

the profession is recognized under NAFTA; and
the alien possesses the specific criteria for that profession; and
the prospective position requires someone in that professional capacity; and
the alien is going to work for a U.S. employer.
If all of these conditions are met, then a TN may be issued.


Obtaining a "TN" Visa

To qualify for admission under this classification, citizens of Canada, at the U.S. Port of Entry, must:

Request "TN" status.
Bring the original documentation and provide a copy of the applicant's college degree and employment records which establish qualification for the prospective job.
Provide a letter from the prospective U.S.-based employer offering him/her a job in the United States.

Note: The job must be included in Appendix 1603.D.1 of NAFTA, which provides a list of provisions covered by the Agreement.
Pay a fee of US$50.

Canadian citizens are not required to obtain a visa, but instead receive "TN" status with U.S. Customs and Border Protection (CBP) at their Port of Entry.
I agree with HomelessinSD that some career opportunities can be a lot brighter in the U.S.A.
In fond memory of Taipan, a model of modesty, decency, dignity and tolerance. Long may we all prosper from the tremendous legacy of worldly wisdom and specialized real estate knowledge which he left in the "Arguments" thread.
 
User avatar
jesse1
Real Estate Talker
Posts: 5097
Joined: Mon Feb 18, 2008 12:51 pm
Contact:

Re: Vancouver indvidual property sales details

Sun Nov 29, 2015 7:22 pm

Yes those with university degree can generally get TN visa with a sponsorship and legal assistance (99% of the time paid for by the sponsor). Job ops are more diverse and the pay is better (for tech anyways). Hours are longer typically and commutes can be worse. If you don't drive it limits your options significantly.

Vancouver has always been a "niche" player. People choose to stay despite the limited opportunities. There are ops, the real issue I've found is finding "good" people. Lots of applications but few are qualified and competent AND emotionally stable. High housing prices don't help recruitment but otoh companies invariably won't compete on salary. It's a vicious spiral. I wonder if it can ever get incomes higher for private industry. There simply isn't enough density of industry to compete with big US job centres.

In short, meh.

Also see this post https://vreaa.wordpress.com/2011/05/24/ ... ust-setti/
There is no shame in overpaying
 
vanreal
Real Estate Talker
Posts: 959
Joined: Mon Feb 20, 2006 7:15 pm
Contact:

Re: Vancouver indvidual property sales details

Mon Nov 30, 2015 1:49 pm

Here is the information regarding TN Visa requirements:
The visa category "Professionals Under the North American Free Trade Agreement" (also known as a TN Visa) is available only to citizens of Canada and Mexico, under the terms of the North American Free Trade Agreement (NAFTA).

Qualifications for a "TN" visa

A citizen of a NAFTA country may work in a professional occupation in the U.S. provided:

the profession is recognized under NAFTA; and
the alien possesses the specific criteria for that profession; and
the prospective position requires someone in that professional capacity; and
the alien is going to work for a U.S. employer.
If all of these conditions are met, then a TN may be issued.


Obtaining a "TN" Visa

To qualify for admission under this classification, citizens of Canada, at the U.S. Port of Entry, must:

Request "TN" status.
Bring the original documentation and provide a copy of the applicant's college degree and employment records which establish qualification for the prospective job.
Provide a letter from the prospective U.S.-based employer offering him/her a job in the United States.

Note: The job must be included in Appendix 1603.D.1 of NAFTA, which provides a list of provisions covered by the Agreement.
Pay a fee of US$50.

Canadian citizens are not required to obtain a visa, but instead receive "TN" status with U.S. Customs and Border Protection (CBP) at their Port of Entry.
I agree with HomelessinSD that some career opportunities can be a lot brighter in the U.S.A.
Yes that might be the case for getting a visa but most professions have their own set of certifications for practice and that is where the real hoop jumping begins. As I said it's never as easy as you make it out to be. Combine that fact with the fact that house prices in exciting US destinations i.e New York, San Francisco, Boston, Washington area, Los Angeles are in the same ball park as prices in good Canadian cities i.e. Vancouver Toronto, then it's not an attractive option.
 
HomelessinSD
Real Estate Talker
Posts: 600
Joined: Tue Jun 15, 2004 2:12 pm
Contact:

Re: Vancouver indvidual property sales details

Mon Nov 30, 2015 5:26 pm

Prices at similar levels, but;

1) incomes significantly higher
2) more potential to grow your income
3) joint income tax filing (huge deal for a married high income earner)
4) mortgage interest write off (big deal for big mortgage / high income earner)

From a career / Finacial standpoint, it's hard to argue that the best and brightest can so better in the bigger US markets.

Who is online

Users browsing this forum: Bing [Bot] and 1 guest