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reallyreal2
Real Estate Talker
Posts: 666
Joined: Fri Jun 03, 2016 11:30 am

Re: Vancouver indvidual property sales details

Mon Mar 20, 2017 8:24 am

eyesthebye2 wrote:
Here is a $230,000 under ask sale.
Is this the kind of sale you're talking about reallyreal?
Whether this was listed at 2.5M or 800k, we were still going to end up at 1.65-1.7M on this one. This is what older homes on this size lot sell for here.

Originally listed in July 2016 at 1,599,000. So folks, the sale here is above peak prices before foreign buyer rule changes.

1195 east 48th ave
2603sqft detached built 1970
5400sqft RS-1 lot
Asking $1,880,000
Sold $1,650,000 on 27-Feb after 224 days
Renovated home located on popular Knight area. Great size lot with 50 ft width. The home has been redone with high end quality material and work. Laminate floors throughout main living area and bedrooms. The kitchen is gorgeous with quartz counters and S/S appliances. This home has new windows, new hot water tank and aluminum roof. Extra large Patio offer BBQ and summer activities . Currently Basement suite rent at $1800/ mo", month to month tenancy. French Immersion: Sir Winston Churchill Secondary. GREAT FOR INVESTMENT OR LIVE IN. Listed By: SELMAK REALTY LIMITED


Would have sold for north of $2M in July 2016.
Asking price in July 2016 is meaningless - they were trying to get multiple overask offers and nobody bothered buying.  
This is a perfect example of the market still being down 15% from peak.  Nice try though.
 
reallyreal2
Real Estate Talker
Posts: 666
Joined: Fri Jun 03, 2016 11:30 am

Re: Vancouver indvidual property sales details

Mon Mar 20, 2017 8:28 am

eyesthebye2 wrote:
At what point do bears just give up and say they don't know what they are talking about. Can we set a deadline? 6+ months? If the market is still trading the 1.3 / 1.5 million range. Can the bears take some responsibility.


I've been here 8 plus years. That won't happen. The best you'll get is "you're correct, for now, but a crash will happen some day". That buys the bears a limitless amount of time.
It's basically like never having to admit you're wrong.
The permabears still lurk here, either as readers or posting with alternate user names. Idiots like vanpro, registered and betamax. The fact that none of the bears of 7 or 8 years ago are brave enough to post now gives you the evidence about their previous poor judgement.

How do you know someone lurks here?  

I love your view of the world - you just assume you are right about everything.  Man, would I hate to be in your life on a day to day basis... thankfully I am not.  
 
tdma800
Real Estate Talker
Posts: 2977
Joined: Wed Jan 23, 2008 9:12 am

Re: Vancouver indvidual property sales details

Mon Mar 20, 2017 8:33 am

eyesthebye2 wrote:
Here is a $230,000 under ask sale.
Is this the kind of sale you're talking about reallyreal?
Whether this was listed at 2.5M or 800k, we were still going to end up at 1.65-1.7M on this one. This is what older homes on this size lot sell for here.

Originally listed in July 2016 at 1,599,000. So folks, the sale here is above peak prices before foreign buyer rule changes.

1195 east 48th ave
2603sqft detached built 1970
5400sqft RS-1 lot
Asking $1,880,000
Sold $1,650,000 on 27-Feb after 224 days
Renovated home located on popular Knight area. Great size lot with 50 ft width. The home has been redone with high end quality material and work. Laminate floors throughout main living area and bedrooms. The kitchen is gorgeous with quartz counters and S/S appliances. This home has new windows, new hot water tank and aluminum roof. Extra large Patio offer BBQ and summer activities . Currently Basement suite rent at $1800/ mo", month to month tenancy. French Immersion: Sir Winston Churchill Secondary. GREAT FOR INVESTMENT OR LIVE IN. Listed By: SELMAK REALTY LIMITED


As usual others lack education and are simply drooling and envy what you have.  The amount of money people want now and before is very tightly related.
 
eyesthebye2
Real Estate Talker
Posts: 1151
Joined: Sun Jul 27, 2014 6:41 am

Re: Vancouver indvidual property sales details

Mon Mar 20, 2017 8:35 am

reallyreal2 wrote:
eyesthebye2 wrote:
Here is a $230,000 under ask sale.
Is this the kind of sale you're talking about reallyreal?
Whether this was listed at 2.5M or 800k, we were still going to end up at 1.65-1.7M on this one. This is what older homes on this size lot sell for here.

Originally listed in July 2016 at 1,599,000. So folks, the sale here is above peak prices before foreign buyer rule changes.

1195 east 48th ave
2603sqft detached built 1970
5400sqft RS-1 lot
Asking $1,880,000
Sold $1,650,000 on 27-Feb after 224 days
Renovated home located on popular Knight area. Great size lot with 50 ft width. The home has been redone with high end quality material and work. Laminate floors throughout main living area and bedrooms. The kitchen is gorgeous with quartz counters and S/S appliances. This home has new windows, new hot water tank and aluminum roof. Extra large Patio offer BBQ and summer activities . Currently Basement suite rent at $1800/ mo", month to month tenancy. French Immersion: Sir Winston Churchill Secondary. GREAT FOR INVESTMENT OR LIVE IN. Listed By: SELMAK REALTY LIMITED


Would have sold for north of $2M in July 2016.
Asking price in July 2016 is meaningless - they were trying to get multiple overask offers and nobody bothered buying.  
This is a perfect example of the market still being down 15% from peak.  Nice try though.


You're confused. It was listed in July 2016. If it was 2M at that time it would have sold.
What sidelined the sale was the foreign buyers tax, and buyers waiting to see what the effect on the market would be.
This sale shows that the effect of the tax is nil.

I'm wrong about a lot of things. But WRT Vancouver real estate I couldnt more correct.
 
tdma800
Real Estate Talker
Posts: 2977
Joined: Wed Jan 23, 2008 9:12 am

Re: Vancouver indvidual property sales details

Mon Mar 20, 2017 8:36 am

eyesthebye2 wrote:
At what point do bears just give up and say they don't know what they are talking about. Can we set a deadline? 6+ months? If the market is still trading the 1.3 / 1.5 million range. Can the bears take some responsibility.


I've been here 8 plus years. That won't happen. The best you'll get is "you're correct, for now, but a crash will happen some day". That buys the bears a limitless amount of time.
It's basically like never having to admit you're wrong.
The permabears still lurk here, either as readers or posting with alternate user names. Idiots like vanpro, registered and betamax. The fact that none of the bears of 7 or 8 years ago are brave enough to post now gives you the evidence about their previous poor judgement.

Intelligent people with experience know that you can easily know when people are there even without speech or writing.  Everyone enjoys your perspective of the planet. Its permitted in Canada to be correct if it is true and people are banging on the proverbial door for a piece, otherwise drooling with envy on a morning/night basis.
 
reallyreal2
Real Estate Talker
Posts: 666
Joined: Fri Jun 03, 2016 11:30 am

Re: Vancouver indvidual property sales details

Mon Mar 20, 2017 8:37 am

eyesthebye2 wrote:
reallyreal2 wrote:
eyesthebye2 wrote:
Here is a $230,000 under ask sale.
Is this the kind of sale you're talking about reallyreal?
Whether this was listed at 2.5M or 800k, we were still going to end up at 1.65-1.7M on this one. This is what older homes on this size lot sell for here.

Originally listed in July 2016 at 1,599,000. So folks, the sale here is above peak prices before foreign buyer rule changes.

1195 east 48th ave
2603sqft detached built 1970
5400sqft RS-1 lot
Asking $1,880,000
Sold $1,650,000 on 27-Feb after 224 days


Would have sold for north of $2M in July 2016.
Asking price in July 2016 is meaningless - they were trying to get multiple overask offers and nobody bothered buying.  
This is a perfect example of the market still being down 15% from peak.  Nice try though.


You're confused. It was listed in July 2016. If it was 2M at that time it would have sold.
What sidelined the sale was the foreign buyers tax, and buyers waiting to see what the effect on the market would be.
This sale shows that the effect of the tax is nil.

I'm wrong about a lot of things. But WRT Vancouver real estate I couldnt more correct.

Clearly it didn't sell for peak prices because it didn't sell for $2M.
Just another seller playing games and got burnt.  LOL 
 
tdma800
Real Estate Talker
Posts: 2977
Joined: Wed Jan 23, 2008 9:12 am

Re: Vancouver indvidual property sales details

Mon Mar 20, 2017 8:44 am

eyesthebye2 wrote:
reallyreal2 wrote:
eyesthebye2 wrote:
Here is a $230,000 under ask sale.
Is this the kind of sale you're talking about reallyreal?
Whether this was listed at 2.5M or 800k, we were still going to end up at 1.65-1.7M on this one. This is what older homes on this size lot sell for here.

Originally listed in July 2016 at 1,599,000. So folks, the sale here is above peak prices before foreign buyer rule changes.

1195 east 48th ave
2603sqft detached built 1970
5400sqft RS-1 lot
Asking $1,880,000
Sold $1,650,000 on 27-Feb after 224 days


Would have sold for north of $2M in July 2016.
Asking price in July 2016 is meaningless - they were trying to get multiple overask offers and nobody bothered buying.  
This is a perfect example of the market still being down 15% from peak.  Nice try though.


You're confused. It was listed in July 2016. If it was 2M at that time it would have sold.
What sidelined the sale was the foreign buyers tax, and buyers waiting to see what the effect on the market would be.
This sale shows that the effect of the tax is nil.

I'm wrong about a lot of things. But WRT Vancouver real estate I couldnt more correct.

he/she/it is likely an unlicensed individual without access to data that people are literally required to "be of good reputation' to obtain.
 
westcoastfella
Real Estate Talker
Posts: 1581
Joined: Fri Mar 23, 2007 8:11 am

Re: Vancouver indvidual property sales details

Mon Mar 20, 2017 10:20 am

reallyreal2 wrote:
yzfr1 wrote:
Burden of proof

The burden of proof (Latin: onus probandi) is the duty of a party in a trial to produce the evidence that will shift the conclusion away from the default position, to that party's own position. In a legal dispute, one party is initially presumed to be correct and gets the benefit of the doubt, while the other side bears the burden of proof. When a party bearing the burden of proof meets their burden, the burden of proof switches to the other side. Burdens may be of different kinds for each party, in different phases of litigation. The burden of production is a minimal burden to produce at least enough evidence for the trier of fact to consider a disputed claim.[1]:16-17 After litigants have met the burden of production and their claim is being considered by a trier of fact, they have the burden of persuasion, that enough evidence has been presented to persuade the trier of fact that their side is correct. There are different standards of persuasiveness ranging from a preponderance of the evidence, where there is just enough evidence to tip the balance, to proof beyond a reasonable doubt, as in United States criminal courts.


is the duty of a THE BEARS in a trial to produce the evidence that will shift the conclusion away from the default position, to that party's own position.

It's not up to ETB to keep posting sales above asking to prove the market is not crashing / tanking / adjusting. It's a established fact that the market has been hot for the past 10+ years. However naysayers and bears claim the market is crashing but provide no actual argument nor any actual evidence.

Case in point, ReallyReal2 makes a accusation to try to discredit ETB post by claiming the price was reduced. (No citation provided) and that the sales represent prices no where near peak (Again no citation provided)

The least you can do is cherry pick some distress sales. At this point most of us don't need to price to continue to go up. We have so much equity there is already a huge buffer. Guys who are in the market can continue with the status quo for the next 10 years if prices continue to hover in this range. It's the bears who are sitting on the sideline that will feel the pain not able to enter the market.

At what point do bears just give up and say they don't know what they are talking about. Can we set a deadline? 6+ months? If the market is still trading the 1.3 / 1.5 million range. Can the bears take some responsibility.

 


Market is in shambles - just open your eyes.  

No sales - tonnes of listings.  ETB can continue writing his fiction novel.  Won't help the realtors who are desperate for commissions

could be a recent development, but I'm definitely seeing more sold signs over the past couple of weeks along my bike route into downtown...  pretty small sample size, but a sample nonetheless.
 
tdma800
Real Estate Talker
Posts: 2977
Joined: Wed Jan 23, 2008 9:12 am

Re: Vancouver indvidual property sales details

Mon Mar 20, 2017 10:24 am

eyesthebye2 wrote:
reallyreal2 wrote:
eyesthebye2 wrote:
Here is a $230,000 under ask sale.
Is this the kind of sale you're talking about reallyreal?
Whether this was listed at 2.5M or 800k, we were still going to end up at 1.65-1.7M on this one. This is what older homes on this size lot sell for here.

Originally listed in July 2016 at 1,599,000. So folks, the sale here is above peak prices before foreign buyer rule changes.

1195 east 48th ave
2603sqft detached built 1970
5400sqft RS-1 lot
Asking $1,880,000
Sold $1,650,000 on 27-Feb after 224 days


Would have sold for north of $2M in July 2016.
Asking price in July 2016 is meaningless - they were trying to get multiple overask offers and nobody bothered buying.  
This is a perfect example of the market still being down 15% from peak.  Nice try though.


You're confused. It was listed in July 2016. If it was 2M at that time it would have sold.
What sidelined the sale was the foreign buyers tax, and buyers waiting to see what the effect on the market would be.
This sale shows that the effect of the tax is nil.

I'm wrong about a lot of things. But WRT Vancouver real estate I couldnt more correct.

Its blindingly obvious that the said unit was completed at the top .  likely one of the more stodgy owners that you could find.
 
yzfr1
Real Estate Talker
Posts: 252
Joined: Tue Mar 19, 2013 8:35 pm

Re: Vancouver indvidual property sales details

Mon Mar 20, 2017 11:07 am

eyesthebye2 wrote:
I dont always have time for this. I assure you, if I did I can post multiple over asking sales.

1156 pender street east
2035sqft detached built 1925
25x122 RT-3 lot
Asking $1,399,000
Sold $1,570,000 on 13-March
This lovely 3 suite revenue property in Strathcona is steeped with character! On the main you will find a 2 bdrm suite w/ a large open master bdrm in the attic. Basement suite consists of a 1 bdrm & den w/ 8 ft ceilings. The cottage/coach house provides an additional 1 bdrm suite w/ radiant in-floor heating. Home was completely renovated in 2001 including: new plumbing, new roof & drain tiles, new gas & sewer line, new electrical and new slab in both the basement suite & in cottage/coach house. All 3 suites have their own washer/ dryer. Off the back porch is a beautifully landscaped south-facing back yard. Great block: steps from central Strathcona, schools, transit and recreation. One block to bike route. Listed By: SUTTON GRP-WEST COAST (BRDWY)


BTW this house was purchased May/6/2014 for $910,000

$1,570,000 - $910,000 = $660,000

A whopping 72% ROI / $220,000 a year.
 
reallyreal2
Real Estate Talker
Posts: 666
Joined: Fri Jun 03, 2016 11:30 am

Re: Vancouver indvidual property sales details

Mon Mar 20, 2017 11:14 am

they would have to pay lots of taxes on that "investment".

Just lining the pockets of CRA.
 
tdma800
Real Estate Talker
Posts: 2977
Joined: Wed Jan 23, 2008 9:12 am

Re: Vancouver indvidual property sales details

Mon Mar 20, 2017 11:16 am

yzfr1 wrote:
  1. yzfr1:
eyesthebye2 wrote:
I dont always have time for this. I assure you, if I did I can post multiple over asking sales.

1156 pender street east
2035sqft detached built 1925
25x122 RT-3 lot
Asking $1,399,000
Sold $1,570,000 on 13-March
This lovely 3 suite revenue property in Strathcona is steeped with character! On the main you will find a 2 bdrm suite w/ a large open master bdrm in the attic. Basement suite consists of a 1 bdrm & den w/ 8 ft ceilings. The cottage/coach house provides an additional 1 bdrm suite w/ radiant in-floor heating. Home was completely renovated in 2001 including: new plumbing, new roof & drain tiles, new gas & sewer line, new electrical and new slab in both the basement suite & in cottage/coach house. All 3 suites have their own washer/ dryer. Off the back porch is a beautifully landscaped south-facing back yard. Great block: steps from central Strathcona, schools, transit and recreation. One block to bike route. Listed By: SUTTON GRP-WEST COAST (BRDWY)



BTW this house was purchased May/6/2014 for $910,000

$1,570,000 - $910,000 = $660,000

A whopping 72% ROI  / $220,000 a year.

All without throwing it away in taxes if it was the owners primary residence.   A reason for many to drool with envy
 
reallyreal2
Real Estate Talker
Posts: 666
Joined: Fri Jun 03, 2016 11:30 am

Re: Vancouver indvidual property sales details

Mon Mar 20, 2017 11:17 am

westcoastfella wrote:
reallyreal2 wrote:
yzfr1 wrote:
Burden of proof

The burden of proof (Latin: onus probandi) is the duty of a party in a trial to produce the evidence that will shift the conclusion away from the default position, to that party's own position. In a legal dispute, one party is initially presumed to be correct and gets the benefit of the doubt, while the other side bears the burden of proof. When a party bearing the burden of proof meets their burden, the burden of proof switches to the other side. Burdens may be of different kinds for each party, in different phases of litigation. The burden of production is a minimal burden to produce at least enough evidence for the trier of fact to consider a disputed claim.[1]:16-17 After litigants have met the burden of production and their claim is being considered by a trier of fact, they have the burden of persuasion, that enough evidence has been presented to persuade the trier of fact that their side is correct. There are different standards of persuasiveness ranging from a preponderance of the evidence, where there is just enough evidence to tip the balance, to proof beyond a reasonable doubt, as in United States criminal courts.


is the duty of a THE BEARS in a trial to produce the evidence that will shift the conclusion away from the default position, to that party's own position.

It's not up to ETB to keep posting sales above asking to prove the market is not crashing / tanking / adjusting. It's a established fact that the market has been hot for the past 10+ years. However naysayers and bears claim the market is crashing but provide no actual argument nor any actual evidence.

Case in point, ReallyReal2 makes a accusation to try to discredit ETB post by claiming the price was reduced. (No citation provided) and that the sales represent prices no where near peak (Again no citation provided)

The least you can do is cherry pick some distress sales. At this point most of us don't need to price to continue to go up. We have so much equity there is already a huge buffer. Guys who are in the market can continue with the status quo for the next 10 years if prices continue to hover in this range. It's the bears who are sitting on the sideline that will feel the pain not able to enter the market.

At what point do bears just give up and say they don't know what they are talking about. Can we set a deadline? 6+ months? If the market is still trading the 1.3 / 1.5 million range. Can the bears take some responsibility.

 


Market is in shambles - just open your eyes.  

No sales - tonnes of listings.  ETB can continue writing his fiction novel.  Won't help the realtors who are desperate for commissions

could be a recent development, but I'm definitely seeing more sold signs over the past couple of weeks along my bike route into downtown...  pretty small sample size, but a sample nonetheless.

Lots of money laundering happening these days.  Grey market sales used to get illicit funds into Canada through tax sheltered sales.  Very obvious.
Anybody that lists their home would not get close to these prices unless it is an inside deal and you have some offshore funds you need to wash.  Otherwise, you are stuck getting 2014 prices - which many houses are still selling for but ignored by our rose colored bulls  8)
 
reallyreal2
Real Estate Talker
Posts: 666
Joined: Fri Jun 03, 2016 11:30 am

Re: Vancouver indvidual property sales details

Mon Mar 20, 2017 11:19 am

yzfr1 wrote:
eyesthebye2 wrote:
I dont always have time for this. I assure you, if I did I can post multiple over asking sales.

1156 pender street east
2035sqft detached built 1925
25x122 RT-3 lot
Asking $1,399,000
Sold $1,570,000 on 13-March
This lovely 3 suite revenue property in Strathcona is steeped with character! On the main you will find a 2 bdrm suite w/ a large open master bdrm in the attic. Basement suite consists of a 1 bdrm & den w/ 8 ft ceilings. The cottage/coach house provides an additional 1 bdrm suite w/ radiant in-floor heating. Home was completely renovated in 2001 including: new plumbing, new roof & drain tiles, new gas & sewer line, new electrical and new slab in both the basement suite & in cottage/coach house. All 3 suites have their own washer/ dryer. Off the back porch is a beautifully landscaped south-facing back yard. Great block: steps from central Strathcona, schools, transit and recreation. One block to bike route. Listed By: SUTTON GRP-WEST COAST (BRDWY)



BTW this house was purchased May/6/2014 for $910,000

$1,570,000 - $910,000 = $660,000

A whopping 72% ROI  / $220,000 a year.

Since you are a smarty-pants, you will know that ROI means Return on INVESTMENT.  One pays taxes on investments.

If this sale was sheltered b/c of PR exemption, this person is either now renting or buying another house at today's prices.  It's a lateral move.  Hard to fathom, I know.

Only people making money are realtors when this happens - after a two week course, you could also get a commission for ripping off clients.   :D
 
tdma800
Real Estate Talker
Posts: 2977
Joined: Wed Jan 23, 2008 9:12 am

Re: Vancouver indvidual property sales details

Mon Mar 20, 2017 11:20 am

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