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timber2012
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Topic Author
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Joined: Fri Dec 16, 2011 10:50 am

Re: Is it me or is the Westside getting creamed?

Tue Feb 19, 2013 10:03 am

Taking a break from the bickering:

6479 Larch St. Asking $2.696M. Purchased for $2.82M in Apr/11. That person bought it for $2.7M in Nov/09.

So we are now below the 2009 purchase price for this home. Not counting depreciation.
George Carlin once said "Think of how stupid the average person is, and realize half of them are stupider than that.”
 
HAM
Real Estate Talker
Posts: 836
Joined: Sun Feb 12, 2012 1:21 pm

Re: Is it me or is the Westside getting creamed?

Tue Feb 19, 2013 10:25 am

timber2012 wrote:
Taking a break from the bickering:

6479 Larch St. Asking $2.696M. Purchased for $2.82M in Apr/11. That person bought it for $2.7M in Nov/09.

So we are now below the 2009 purchase price for this home. Not counting depreciation.


Tom and Mike,

Bring these kind of stats to the table instead of pumping the bs into this forum. Show both sides of the story please and stop the one sided pumping stats. Thanks
So jimmy said I missed the dip in Richmond last year. And now prices have fallen even more with no balance in sight! The poor old man is just too old and grumpy!
 
timber2012
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Topic Author
Posts: 1730
Joined: Fri Dec 16, 2011 10:50 am

Re: Is it me or is the Westside getting creamed?

Tue Feb 19, 2013 11:02 am

2408 McBain Ave.

Originally asking $2.598M.

sold for $2.370M

Purchased for $2.39M in April 2011.
George Carlin once said "Think of how stupid the average person is, and realize half of them are stupider than that.”
 
gse36
Real Estate Talker
Posts: 1451
Joined: Sun Feb 20, 2005 9:20 pm

Re: Is it me or is the Westside getting creamed?

Tue Feb 19, 2013 11:41 am

timber2012 wrote:
2408 McBain Ave.

Originally asking $2.598M.

sold for $2.370M

Purchased for $2.39M in April 2011.


I think they reno'd it in 2012 (i.e. after purchase) too. At least the desc says completely renovated in 2012. So they lost those reno dollars too.
 
timber2012
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Topic Author
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Joined: Fri Dec 16, 2011 10:50 am

Re: Is it me or is the Westside getting creamed?

Tue Feb 19, 2013 11:52 am

That's a shame.
George Carlin once said "Think of how stupid the average person is, and realize half of them are stupider than that.”
 
thinktom
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Posts: 1694
Joined: Tue Jan 16, 2007 2:51 pm

Re: Is it me or is the Westside getting creamed?

Wed Feb 20, 2013 10:38 am

HAM wrote:
Tom and Mike,

Bring these kind of stats to the table instead of pumping the bs into this forum. Show both sides of the story please and stop the one sided pumping stats. Thanks


HAM,

Dig down deep and bring just a smidgeon of a sense of humour to the table and ease up on the bickering on this forum. Show both sides of your personality and stop the one sided anger.

Thanks.
 
HAM
Real Estate Talker
Posts: 836
Joined: Sun Feb 12, 2012 1:21 pm

Re: Is it me or is the Westside getting creamed?

Wed Feb 20, 2013 10:43 am

thinktom wrote:
HAM wrote:
Tom and Mike,

Bring these kind of stats to the table instead of pumping the bs into this forum. Show both sides of the story please and stop the one sided pumping stats. Thanks


HAM,

Dig down deep and bring just a smidgeon of a sense of humour to the table and ease up on the bickering on this forum. Show both sides of your personality and stop the one sided anger.

Thanks.


I did, I posted a big sale of a 18 mil property and semven ripped me for that. I'm not a realtor, you are, so be honest.
So jimmy said I missed the dip in Richmond last year. And now prices have fallen even more with no balance in sight! The poor old man is just too old and grumpy!
 
thinktom
Real Estate Talker
Posts: 1694
Joined: Tue Jan 16, 2007 2:51 pm

Re: Is it me or is the Westside getting creamed?

Wed Feb 20, 2013 10:59 am

HAM wrote:
thinktom wrote:
HAM wrote:
Tom and Mike,

Bring these kind of stats to the table instead of pumping the bs into this forum. Show both sides of the story please and stop the one sided pumping stats. Thanks


HAM,

Dig down deep and bring just a smidgeon of a sense of humour to the table and ease up on the bickering on this forum. Show both sides of your personality and stop the one sided anger.

Thanks.


I did, I posted a big sale of a 18 mil property and semven ripped me for that. I'm not a realtor, you are, so be honest.


:roll: 'Honest' about what?? Where am I not being 'honest' here? Hell, I even started a thread about Carney's comments re dropping values for years to come. Why don't you quit crying instead and lighten up (for the umpteenth time).
 
HAM
Real Estate Talker
Posts: 836
Joined: Sun Feb 12, 2012 1:21 pm

Re: Is it me or is the Westside getting creamed?

Fri Feb 22, 2013 6:51 am

Tom,

2662 w king Ed ave
Sold may 2011 for x,xxx,xxx
Sold 2013 x,xxx,xxx

My computer is busted, can you fill in the x's for me please?

Thanks :wink:
So jimmy said I missed the dip in Richmond last year. And now prices have fallen even more with no balance in sight! The poor old man is just too old and grumpy!
 
thinktom
Real Estate Talker
Posts: 1694
Joined: Tue Jan 16, 2007 2:51 pm

Re: Is it me or is the Westside getting creamed?

Fri Feb 22, 2013 12:12 pm

HAM wrote:
Tom,

2662 w king Ed ave
Sold may 2011 for x,xxx,xxx
Sold 2013 x,xxx,xxx

My computer is busted, can you fill in the x's for me please?

Thanks :wink:


2662 w king Ed ave
Sold may 2011 for $1.81M
Sold 2013 $1.65M

It also had 0 days on the market. Always makes me wonder what went down when they did the deal.

HAM. Get it straight. You're the one that whines every time I post something.

I, on the other hand, couldn't care less what you post. Knock yourself out. Post every single sale in Vancouver.
 
HAM
Real Estate Talker
Posts: 836
Joined: Sun Feb 12, 2012 1:21 pm

Re: Is it me or is the Westside getting creamed?

Fri Feb 22, 2013 12:35 pm

thinktom wrote:
HAM wrote:
Tom,

2662 w king Ed ave
Sold may 2011 for x,xxx,xxx
Sold 2013 x,xxx,xxx

My computer is busted, can you fill in the x's for me please?

Thanks :wink:


2662 w king Ed ave
Sold may 2011 for $1.81M
Sold 2013 $1.65M

It also had 0 days on the market. Always makes me wonder what went down when they did the deal.

HAM. Get it straight. You're the one that whines every time I post something.

I, on the other hand, couldn't care less what you post. Knock yourself out. Post every single sale in Vancouver.


There's too many these type of sales happening and it's too much work for no money. I'll post when I feel I need to do so.

Thanks Tom for showing the 200k + profit on that sale :wink:
So jimmy said I missed the dip in Richmond last year. And now prices have fallen even more with no balance in sight! The poor old man is just too old and grumpy!
 
timber2012
Real Estate Talker
Topic Author
Posts: 1730
Joined: Fri Dec 16, 2011 10:50 am

Re: Is it me or is the Westside getting creamed?

Tue Feb 26, 2013 9:17 am

4327 W13th - Asking in Aug/12 was $1.998M. Sold for $1.75M. Purchased for $1.695M in Mar/11. After the purchase we learn that:

"Beautifully renovated character home on one of Point Grey's prettiest streets. Current owners have done a major renovation including new wiring, plumbing, drain tiles, windows & 2 car garage. Top floor features 3 bedrooms, 2 full bathroom including a master ensuite. Main floor has an open floor plan ideal for entertaining or for young children. Fully finished lower level includes an in-law suite as well as a rec room. Don't miss this wonderful family home. School Catchment: Lord Byng Secondary & Queen Elizabeth Elementary."

After PTT and Commissions, the current owners are underwater before even considering the improvements they have made to the property.

They probably would have done better renting for two years - a nicer newer home plus no downside on this stupid market.
George Carlin once said "Think of how stupid the average person is, and realize half of them are stupider than that.”
 
sinison
Real Estate Talker
Posts: 11
Joined: Sun Nov 13, 2011 9:43 pm

Re: Is it me or is the Westside getting creamed?

Tue Feb 26, 2013 12:39 pm

Looks more like a $200K loss?!?!

It was listed almost continuously since 2011 sale.

This was profiled on VREAA as well.

Sold May 2002 – $495,700 (5 days on market, $27K over ask)
Sold Nov 2009 – $1,230,000 (2 days on market, $41K over ask)
Sold May 2011 – $1,810,000 (25 days on market, $8K under ask)

Oct 2011
New Listing – $2,100,000

July 23, 2012
Price Reduced! – $1,999,000

Listing expired

September 19, 2012
New Listing – $1,830,000

Listing expired

February 18, 2013
New Listing – $1,830,000

Sold Feb 2013 – $1,650,000 (17 months on market)

HAM wrote:
thinktom wrote:
HAM wrote:
Tom,

2662 w king Ed ave
Sold may 2011 for x,xxx,xxx
Sold 2013 x,xxx,xxx

My computer is busted, can you fill in the x's for me please?

Thanks :wink:


2662 w king Ed ave
Sold may 2011 for $1.81M
Sold 2013 $1.65M

It also had 0 days on the market. Always makes me wonder what went down when they did the deal.

HAM. Get it straight. You're the one that whines every time I post something.

I, on the other hand, couldn't care less what you post. Knock yourself out. Post every single sale in Vancouver.


There's too many these type of sales happening and it's too much work for no money. I'll post when I feel I need to do so.

Thanks Tom for showing the 200k + profit on that sale :wink:
 
HAM
Real Estate Talker
Posts: 836
Joined: Sun Feb 12, 2012 1:21 pm

Re: Is it me or is the Westside getting creamed?

Tue Feb 26, 2013 1:01 pm

Obviously, you don't understand sarcasm.
So jimmy said I missed the dip in Richmond last year. And now prices have fallen even more with no balance in sight! The poor old man is just too old and grumpy!
 
BWilson
Newbie
Posts: 8
Joined: Sun Feb 17, 2013 11:43 am

Re: Is it me or is the Westside getting creamed?

Tue Feb 26, 2013 3:24 pm

timber2012 wrote:
4327 W13th - Asking in Aug/12 was $1.998M. Sold for $1.75M. Purchased for $1.695M in Mar/11. After the purchase we learn that:

"Beautifully renovated character home on one of Point Grey's prettiest streets. Current owners have done a major renovation including new wiring, plumbing, drain tiles, windows & 2 car garage. Top floor features 3 bedrooms, 2 full bathroom including a master ensuite. Main floor has an open floor plan ideal for entertaining or for young children. Fully finished lower level includes an in-law suite as well as a rec room. Don't miss this wonderful family home. School Catchment: Lord Byng Secondary & Queen Elizabeth Elementary."

After PTT and Commissions, the current owners are underwater before even considering the improvements they have made to the property.

They probably would have done better renting for two years - a nicer newer home plus no downside on this stupid market.


I found a video from the prior listing, I'm guessing the reno wasn't that "major" given that it looked pretty good in 2011: http://www.youtube.com/watch?v=0eHvvOkLZRA

I actually think the sellers did well, it's going to be very tough to do this well on a 2011-2013 trade in the West Side detached market as the year goes on. I've seen some undisciplined purchases the last couple months, 2830 W 12th comes to mind --> there are a lot more listings in that area in the 1.3-1.4 million range since that sale, the buyer should have waited a bit. The 80% of the listings that are totally out to lunch would do well to sharpen their prices quickly before supply totally overwhelms demand.

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