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eyesthebye2
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Re: Vancouver indvidual property sales details

Wed Mar 01, 2017 10:49 am

Under 1.3M

4519 Culloden
2038sqft detached built 1912
3666sqft RS1 lot
Asking $999,000
Sold $1,268,000 on Feb 27
Good location in east Vancouver, quite street and nice neighbourhood, close to School, public transit, Kensington Park & Community centre, convenient to live in and the split levels good for investment.
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VanLord
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Re: Vancouver indvidual property sales details

Wed Mar 01, 2017 2:50 pm

Under 1.3M

4519 Culloden
2038sqft detached built 1912
3666sqft RS1 lot
Asking $999,000
Sold $1,268,000 on Feb 27
Good location in east Vancouver, quite street and nice neighbourhood, close to School, public transit, Kensington Park & Community centre, convenient to live in and the split levels good for investment.
Curious why the ask was so low and was it a multiple bid that pushed it that high?
 
tdma800
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Re: Vancouver indvidual property sales details

Wed Mar 01, 2017 5:18 pm

Under 1.3M

4519 Culloden
2038sqft detached built 1912
3666sqft RS1 lot
Asking $999,000
Sold $1,268,000 on Feb 27
Good location in east Vancouver, quite street and nice neighbourhood, close to School, public transit, Kensington Park & Community centre, convenient to live in and the split levels good for investment.
anyone who's actually done it before know the reason the prices are  lower vs the sale
 
tdma800
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Re: Vancouver indvidual property sales details

Wed Mar 01, 2017 5:22 pm



I agree with most of it... my question is why do people hang around here if the risk is to high. Why not move somewhere else instead of throwing money at rent here waiting for something to happen.

Burning years of their life waiting to time the market to enter.

Ps. I advised people to buy something they can afford. I always cautioned away from the expensive stuff. What's wrong with a decent $400,000 Condo.
Good question about why people stay, I can only answer for myself.

My main reason is I love my current job, It pays well and the projects are extremely cool (think NAVY Warships). 
Second reason is I have family here. Them too got very lucky when they purchased a Vancouver house back in 2000 now it's worth millions.

I don't mind renting, but obviously would prefer owning but not having a monster debt. I almost purchased at the winter of 2015 (I had a bit of FOMO as well), the pre-approval papers were done, but I decided to opt out of buying after a month of seeing all the hysteria in open houses and bidding wars.

I'm glad I did not buy then. I'm on the side-lines saving up and looking to pull the trigger once the market volatility subsides. The risk I'm taking is for the prices to keep rising and I never get in "position", but I like that risk profile a lot more than buying and taking a 20 to 30% hit in a 25 year mortgage.

Nothing wrong with a 400k condo, as long as you can afford the monthly payments with interest rates fluctuating +/-5%, since the stress test is there it should be safe. By afford, I mean between 30 to 35% of your after tax money should pay for the mortgage and strata. So for a 350k mortgage, your household income should be around 80k (around median, I suppose that's where you got the number from). This is if you don't have kids and can stomach a 30 to 40% downturn if it happens. If you're planning on having kids, you're better off moving.
Where are you going to move?  If you have family in Vancouver and you are planning to have kids, that is precisely the reason you would stay.  That would offer both emotional and financial support that you wouldn't get from moving elsewhere.  If you are a Canadian citizen there really isn't a better place to move to, and its certainly doable to carve out a good life here, even if there is a premium to live here...which always was the case.
There is nothing wrong with renting, but holding off waiting for the perfect time to buy could mean you are stuck renting forever, and miss out on potentially large tax-free gains that come with the pleasure of owning your own home.  On the flip side now is the best time to start paying off a mortgage, you will be that much better off when it comes time to retire, and with such low interest rates you can actually put a good dent in the principle in the earlier years to be free and clear much earlier.  I just took a new 30 year mortgage out last year and am paying over 50% towards the principle.  Of course my tenant is paying the mortgage for me and the interest is a tax write-off, but hey the more equity I can build up the better, right!.
My point was that a lot of people in Vancouver are perma-bears and have been hoping for a crash for over a decade, and it hasn't happened.  Their advice has been consistently wrong, and they are the loudest ones yelling out to tell people not to buy (not that anyone on this current thread is doing that).  In the meantime, those that bought have been able to take advantage of historically low interest rates, exceptional returns, and market forces that have worked in the favour of property owners.  These last 10 years have been far better than the stock market (although that has been good too) or any other investment, with the exception of maybe getting lucky with a new business that takes off with exponential growth.  I don't see interest rates fluctuating by 5% in the next 5 years, either.  Looks like Canada will hover near the bottom for a while longer and I can't see the rates rising by more than a 1-2%, although if it does that will be great news, because it will mean the economy is flying high. 
I'm not sure its all doom and gloom from here, a healthy breather and cooling off period is needed and even if we tread water for the next few years or a small dip, will set us up for another bull run in the not so distant future.  Even the colleague in Surrey will be feeling better, although bidding up that high is a recipe for losing money if you ask me.  I personally have walked away from countless deals when others were bidding up the price, I got lucky on all my purchases and was able to avoid multiple bid scenarios.  I would always council buyers not to let emotions get involved when it comes to real estate.
some are permanent because they are entitled and want it handed to them instead of working for it. People with experience, know that a $420,000 apartment is one of the worst things, when it is better to go for detached
 
tdma800
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Re: Vancouver indvidual property sales details

Wed Mar 01, 2017 5:23 pm

I think the people who are taking out huge loans to try and time this market are going to get owned the hardest.

Buy what you can afford, if you get a $450,000 apartment with a easy $1,500 mortgage, so what if it drops 20-30% when you buy something its meant to be lived in. Ride out the down turn.

I don't believe in investing in multi million dollar homes. Not the way people in Vancouver do it anyways. If you were to put $1,000,000 in a stock you would read every last income statement and know the company from A-Z. People in Vancouver are investing without even knowing the basics of what they are buying.

I believe in buying to live. Vancouver is not a good market to invest in, the downside is much greater then the upshot.
If you gambled in the stock market with 1 m instead of buying a home ,you'd be paying taxes left right and centre
 
westcoastfella
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Re: Vancouver indvidual property sales details

Wed Mar 01, 2017 7:06 pm

Under 1.3M

4519 Culloden
2038sqft detached built 1912
3666sqft RS1 lot
Asking $999,000
Sold $1,268,000 on Feb 27
Good location in east Vancouver, quite street and nice neighbourhood, close to School, public transit, Kensington Park & Community centre, convenient to live in and the split levels good for investment.
Curious why the ask was so low and was it a multiple bid that pushed it that high?
And also curious... when was the last time you saw a 6-figure asking price for a SFH in CoV?
 
VanLord
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Posts: 320
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Re: Vancouver indvidual property sales details

Wed Mar 01, 2017 7:22 pm

Under 1.3M

4519 Culloden
2038sqft detached built 1912
3666sqft RS1 lot
Asking $999,000
Sold $1,268,000 on Feb 27
Good location in east Vancouver, quite street and nice neighbourhood, close to School, public transit, Kensington Park & Community centre, convenient to live in and the split levels good for investment.
anyone who's actually done it before know the reason the prices are  lower vs the sale
Ok time to put smartypants on Ignore!!!
 
tdma800
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Posts: 2977
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Re: Vancouver indvidual property sales details

Wed Mar 01, 2017 7:46 pm

Under 1.3M

4519 Culloden
2038sqft detached built 1912
3666sqft RS1 lot
Asking $999,000
Sold $1,268,000 on Feb 27
Curious why the ask was so low and was it a multiple bid that pushed it that high?
And also curious... when was the last time you saw a 6-figure asking price for a SFH in CoV?
realtylink.org
 
yzfr1
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Re: Vancouver indvidual property sales details

Wed Mar 01, 2017 8:26 pm

data is data - but specifics tell a different story.

I'll be postings individual sales data in this thread

First up

http://sarafakhari.com/property_details-V866061.html

MLS #V866061
#3055 WINDSOR ST.
lot size 46x87, 4002 sqft RT-5 zoned
house size 1914 sqft
oldtimer (teardown)
listed $835K
assessed $678,200
sold 28-Jan-2011 @ $825K

That $206 per sqft lot
You asked the last time SFH sold for six figures? ETB first post on this thread 6 years ago lol
 
eyesthebye2
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Posts: 1207
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Re: Vancouver indvidual property sales details

Wed Mar 01, 2017 9:18 pm

data is data - but specifics tell a different story.

I'll be postings individual sales data in this thread

First up

http://sarafakhari.com/property_details-V866061.html

MLS #V866061
#3055 WINDSOR ST.
lot size 46x87, 4002 sqft RT-5 zoned
house size 1914 sqft
oldtimer (teardown)
listed $835K
assessed $678,200
sold 28-Jan-2011 @ $825K

That $206 per sqft lot
You asked the last time SFH sold for six figures? ETB first post on this thread 6 years ago lol
I remember a few recent sub 1M sales. But they were small lot and down near Fraser River just past Marine Drive.
I think low water mark recent sale is in the 800s. Tiny lot on busy street.
I think 1.3 is the starting point for a decent detached house
 
VanBullBear
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Re: Vancouver indvidual property sales details

Thu Mar 02, 2017 2:53 pm

Under 1.3M

4519 Culloden
2038sqft detached built 1912
3666sqft RS1 lot
Asking $999,000
Sold $1,268,000 on Feb 27
anyone who's actually done it before know the reason the prices are  lower vs the sale
Ok time to put smartypants on Ignore!!!
Great choice. Your experience in this forum will be a lot better with tdma on ignore. I did it a couple of weeks ago and it has been great. He can jump up and down all he wants for attention in the corner, lets keep the forum troll-free.

As to your question, I believe it's to not filter out buyers who are looking for homes under a million (one of the price cutoffs in realtor.ca is the price range of under 1mil). The idea is to get everyone interested and bring it to a price bidding war. The owner knows it's going to sell for more than a million, but he wants everyone to play - the more players the fiercer the bidding war. Even those who were originally seeking for a place under a million will be tempted to stretch their money to win the bid.
 
tdma800
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Posts: 2977
Joined: Wed Jan 23, 2008 9:12 am
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Re: Vancouver indvidual property sales details

Thu Mar 02, 2017 3:06 pm

data is data - but specifics tell a different story.

I'll be postings individual sales data in this thread

First up

http://sarafakhari.com/property_details-V866061.html

MLS #V866061
#3055 WINDSOR ST.
lot size 46x87, 4002 sqft RT-5 zoned
house size 1914 sqft
oldtimer (teardown)
listed $835K
assessed $678,200
sold 28-Jan-2011 @ $825K

That $206 per sqft lot
You asked the last time SFH sold for six figures? ETB first post on this thread 6 years ago lol
I remember a few recent sub 1M sales. But they were small lot and down near Fraser River just past Marine Drive.
I think low water mark recent sale is in the 800s. Tiny lot on busy street.
I think 1.3 is the starting point for a decent detached house
Its better to not give attention to purchasers for under 7 figures.  Anyone with a experience and a brain wont use the national canadian registries and instead use realtylink.org for the Vancouver market.
 
tdma800
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Posts: 2977
Joined: Wed Jan 23, 2008 9:12 am
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Re: Vancouver indvidual property sales details

Thu Mar 02, 2017 3:07 pm

data is data - but specifics tell a different story.

I'll be postings individual sales data in this thread

First up

http://sarafakhari.com/property_details-V866061.html

MLS #V866061
#3055 WINDSOR ST.
lot size 46x87, 4002 sqft RT-5 zoned
house size 1914 sqft
oldtimer (teardown)
listed $835K
assessed $678,200
sold 28-Jan-2011 @ $825K

That $206 per sqft lot
You asked the last time SFH sold for six figures? ETB first post on this thread 6 years ago lol
dont use those irrelevant national networks., use the vancouver ones and you can easily see 6 figure prices
 
eyesthebye2
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Re: Vancouver indvidual property sales details

Mon Mar 06, 2017 6:15 pm

2709 Graveley Street
2457sqft detached built 1965
33x127 RS1 lot
Asking $1,338,000
Sold $1,650,888 on 28- Feb-2017
This is the house that everybody wants in East Vancouver! Don't miss your chance! This Van Special has never been on the market. Centrally located across from Clinton Park, near all levels of schools, transit, small shops, and the T&T Super Market at 1st & Renfrew. The lot is 33.5 by 127, RSI zoning, and yes, you can build a Coach House. Top floor has 3 bedrooms, and ground floor offers options: rec room plus a bedroom or with some very minor work, a mortgage helper. Exterior needs some paint, but the interior is very clean and ready to live in. Open House -Sun. Feb. 26, 1-5
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Harahomes
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Re: Vancouver indvidual property sales details

Tue Mar 07, 2017 7:05 am

Well boys and girls, the market is starting to heat up again.  I called it 2 or 3 weeks ago when I said that sales are picking up.  Even that clown Steve Starsky (whatever his name is) is starting to admit it.  Bet we wont see the full results until the end of March when the reports come out.  The market isn't hitting sales VOLUMES that it hit last year, but sale PRICES are sure getting close if not passing last years PEAK prices, or getting pretty close to it.

Really real have fun with this post!

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