Vancouver indvidual property sales details

[registered]

When will the bulls here finally accept that the market is clearly turning? I guess when van east starts showing declines?

Just one special house in EV. Until that owner budges on price, the 'true' market remains safe as milk.

[jesse1]

Just one special house in EV

Said house is still likely valued well above its previous purchase price; if a crash does take hold it will be years before it will be booked underwater. When/if it is, that's a big giant fat buy signal due to lagging effects.

[Taipan]

Taipan,I don't get why you bought a Sun Peaks property when you are bearish. Prices will continue to fall in our ski resorts. Sun peaks is a terrible ski resort. The snow is good yes! But only when it snows. And when it snows, you can't see anything because of poor visabilty. Some properties are asking 50% off their original asking price. So you are losing money already. You just joined the loser club.

Incorrect. No properties up there have sold 50% off.

Most discounted off asking was this property.

http://www.sunpeakscollection.com/Recen ... viewdetail

Original asking price was $1,590,000, 523 days on the market and they sold for $1,050,000 or 34% off asking. May 2010

Second in line was this one.
http://www.sunpeakscollection.com/Recen ... viewdetail

Original asking $1,249,000, 877 days on the market, and they sold for $848,000 or 32% off asking and after 4 price reductions. March 2012

HAM you sure you’re not talking about Big Whiteout? Rarely have much viso issues in sun peaks. If you’ve got fog/cloud up high, you ski down lower in the trees which gives you definition.

After the 2008/2009 crash in housing prices in Vancouver, prices regained the loss and kept on rising way above the 2008 high. That didn’t happen in the interior, but try telling that to most of the vendors. Interior properties crashed and prices died after 2008.

In April 2005, 4116 Sundance sold for $899,000 and 8 months later in January 2006 4110 Sundance sold for $905,000.

The owner of 4110 Sundance then placed the property on the market in February 2008 at prices reflecting price increases in Vancouver. He asked $1,250,000 and then increased it to $1,249,000. He then progressively dropped the price to $999,000 but still no buyers and in July 2010 after 890 days on the market he still owns it. What’s it worth? $950,000 approx.

In other words the buyers refused to pay and the sale asking price consistent with Vancouver prices failed miserably

The sale of 4120 Sundance in May 2010 for $1,050,000 after 523 days on the market and 34% off and the sale of practically brand new 4114 Sundance Drive s in March 2012 4114 Sundance Drive for $1m after 436 days on the market reflected pricing consistent with 2005/2006 prices but 6 years later.

Properties up there have sat on and off the market for years. When prices have been reduced back to the 2005 – 2006 area, the properties have promptly sold.

Just consider these figures. Properties that have been on the market for over 365 days which were later sold, withdrawn or are still on the market over the last 4 years total 182.

Still listed on the market for more than 365 days are 116 properties, a further 47 properties were on the market for longer than a year and then withdrawn.

And properties that were on the market for 365 days or longer and sold were just 19 properties. In other words just over 10% of the total properties sold. Of these properties that were sold, in 2009, off asking was 12%, 2010 off asking was 22%, 2011 off asking 14%, and in 2012 off asking was 22%

Vendors determine price and buyers determine turnover. Total property sales in the last 3-4 years by Sothebys total 66. 1/3 of them sat for over 365 days. 13 sat for over 6 months.

Quite simply – price the properties around 2005/2006 value and you will sell your property. The crashing of the property bubble across Canada 2012/2013 and in particular will result in numerous properties being “fire sold” by their owners. Reality, the vendors had unrealistic expectations caused by the property mania.

Everybody knows price, few can determine value and peg it to pre bubble values.

And as it is so very easy to work out and Geezer and his gang would have already worked it out, this is what i bought. I was over in the first week of May and it sold in early May. Even Geezer can work that out.

And Geezer if you turn up on the doorstep with a smile on your face and a decent malt scotch ill be happy to have you in, drink your scotch and chew the fat on property.

4115 Sundance Drive

Two reasons I moved and purchased.

1)It was priced correctly. If he had priced it at Vancouver prices, I wouldnt have made an offer till much later in the year as prices crashed.
2)Position position position.

4th house in from the best located house in Sun Peaks at the top of the magic carpet and gentle giant poma.

Directly backs onto Gentle Giant ski run and im currently having a skiway built into the backyard straight off gentle giant. The other properties mentioned above are in the interior lots of Sundance and dont back onto ski runs.

[rofina]

If true, thats a pretty sweet property. Definitely worth bragging about.

I do wish its true, and if so congrats Taipan. Many folks might bitch about it being overpriced or lack of visibility, or whatever. Me thinks thats mostly jealousy talking.

[Geyser]

And as it is so very easy to work out and Geezer and his gang would have already worked it out, this is what i bought

Yep, it wasn't hard. I just hope you didn't short change Liz on her commission.

[jesse1]

Not a "Vancouver individual property sales detail"!!!!

Enjoy the property, Taipan. You are a most remarkable troll

[HAM]

Taipan,

Look, sun peaks sucks. The resort set up is retarded and there are 3 mini hills. It's dead up there even during the peak season. There is no hope for Most BC ski resorts. The Americans aren't coming so the industry has been hit hard.

Ps: go ride a real mountain at Whistler or Revelstoke.

[Taipan]

Taipan,

Look, sun peaks sucks. The resort set up is retarded and there are 3 mini hills. It's dead up there even during the peak season. There is no hope for Most BC ski resorts. The Americans aren't coming so the industry has been hit hard.

Ps: go ride a real mountain at Whistler or Revelstoke.

Ive tried whistler - rains too much down low and its too busy with too many people. Revelstoke? Havent they gone broke or going broke?

But HAM if you like em, thats all that matters. If revelstoke is still around I might have a ski there yet. One of these days I may also get back to whistler.

Between xmas and new year its very busy in Sun Peaks. But 6th January or around about Canadians go back to work and we aussies have the entire mountain to ourselves.

Im over for around 11 weeks on holidays this year. When everybody goes home we get the mountain to ourselves!

Its all good. Untracked powder on powder days for a day or two.

[HAM]

Taipan,

You called for a GFC 2 by last Xmas. I'm still waiting for that. And why would you buy if you feel there is a disaster on the horizon? I guess you don't know what to do with your 5 mil cash.

[semven]

Helitours be yesterdays news.
Currently Richard Branson and myself are taking bookings for MLS TOURS on the Moon. You can buy at 1975 Vancouver prices and starting next Summer you will be able to see CHRISTY CLARK dancing topless in a Bouncy Castle as we fly past.
Special pricing is available for members of ASP (Australians from Sun Peaks with snake names)

[Geyser]

Taipan wrote:

As Vancouver falls, places like Whistler will precede them down, with vendors having to make a decision between sacrificing their holiday home or their primary residence. That means that the asking prices fall back to meet the market.

Drum roll ........ I agree.

What I don't understand is why Sun Peaks will be different to Whistler and will remain unaffected by Taipan's predicted collapse of the Vancouver market. Perhaps it's so much better than Whistler that financially challenged owners will walk away from their Vancouver homes before dumping their Sun Peaks weekend places.

But who am I to question the professional opinion of the holder of a prestigious, mail-order, "associate diploma" in property valuation. I don't got no qwalificashuns and I live in an old van down by the river.

[Taipan]

You cant read and comprehend, you dont listen and you dont learn.

Properties up there have sat on and off the market for years. When prices have been reduced back to the 2005 – 2006 area, the properties have promptly sold.

Just consider these figures. Properties that have been on the market for over 365 days which were later sold, withdrawn or are still on the market over the last 4 years total 182.

Still listed on the market for more than 365 days are 116 properties, a further 47 properties were on the market for longer than a year and then withdrawn.

And properties that were on the market for 365 days or longer and sold were just 19 properties. In other words just over 10% of the total properties sold. Of these properties that were sold, in 2009, off asking was 12%, 2010 off asking was 22%, 2011 off asking 14%, and in 2012 off asking was 22%

Vendors determine price and buyers determine turnover. Total property sales in the last 3-4 years by Sothebys total 66. 1/3 of them sat for over 365 days. 13 sat for over 6 months.

Quite simply – price the properties around 2005/2006 value and you will sell your property. The crashing of the property bubble across Canada 2012/2013 and in particular will result in numerous properties being “fire sold” by their owners. Reality, the vendors had unrealistic expectations caused by the property mania.

Everybody knows price, few can determine value and peg it to pre bubble values.

I would suggest that similar issues are happening in Whistler only more so because Vancouver is only two hours away and the mania from the Vancouver property market.


Good luck with the mail order qualification Geezer. Its worthless. See you just need to pay for that bit of rubbish.

Distance learning on the other hand, requires a hell of a lot of work and physically involves sitting exams under controlled conditions in education campuses.

Correspondence courses aren’t that unusual in Australia. Hell these days with the internet and video over the net, there are many universities offering distance learning. The difference is to get a qualification recognised by the provincial government and the professional body.

That qualification at that time, only had two places you could actually do the course. In Sydney or by correspondence. Too bad if you lived anywhere in the rest of the state, you had no choice.

Sounding very grouchy Geezer.

But who am I to question the professional opinion of the holder of a prestigious, mail-order, "associate diploma" in property valuation. I don't got no qwalificashuns and I live in an old van down by the river.

Im not laughing, and we both know you dont hold any qualifications in valuation of real estate

But thanks for confirming you have no qualifications accepted by your provincial government to value real estate, and that you are too ignorant to recognise valuation qualifications accepted by states of Australia. It also means that Geezers comments hold no more weight then the average person on the sky train.

Semven, you’ve got the address, come and knock on the door. The pictures on the net here. That weirdo Geezer saved it on his hard drive, remember? (Who saves..... yeah I know - just weirdo's)

Bunch of very unhappy bulls round here these days as they witness their dreams disappearing.

[Geyser]

I would suggest that similar issues are happening in Whistler only more so because Vancouver is only two hours away and the mania from the Vancouver property market.

Oh, now I get it. Recreational property which is much less convenient to get to will be more desirable and will hold its value better than similar property which is an hour and a half drive away on a good road. Wow, I guess you need that mail order course to learn valuation secrets like that. No wonder Vancouverites are ready to walk away from their principal residences before letting go of investments like that. Thanks for the eduficatinal pearls Snakey, I am in awe of your logic.

Now about that question concerning the gene pool, what's your answer?

[Taipan]

Geyser you have no intention of discussing real estate. Your here to be a troll.

It was discussed immediately above. A very simple explanation. Vendors sitting on properties trying to get prices they will never get.

Only by meeting the market at around 2005/2006 levels will they see a sale.

Of course there are always a few out of line sales with delusional buyers who listen to people like you and pay too much.

You love to tell us how smart you are. So we can only come to one simple conclusion.

You understood what I wrote, but it is your intention to be disruptive and provocative and a serial troll who hides behind his computer screen.

That makes anything you write worthless!

[Geyser]

You love to tell us how smart you are.

No, that's not true, I focus on how dumb you are, it's much more fun and easily verifiable.