Huge Sales Surge In Vancouver By Mainland Chinese Today!!!!!

[vanrealtalk]

My sarcasm detector is off. Are there lineups?

Rofina, yes! I am not joking.

My friend who knows some guys who have contacts in Mainland China indicates that June sales are going to pick up big time. The delay was mostly due to the Bo Xilai fiasco, but that's all cleared up now and it's full speed ahead. In my friend's words: "Anything that isn't bolted down is heading for Vancouver."

Actually, they are buying in UK, such as London, Oxford and Cambridge. Reasons: cheaper + famous universities.

[SethM]

My friend who is a westside realtor is buying houses to flip to the Mainland Chinese.

What would happen to your friend if Chinese folks don't buy that house for his price (bad Feng shui, unlucky combination of numbers or something)? Can he afford to keep such expensive property when its rent doesn't cover expenses?

He has been making so much money flipping homes to Mainland Chinese for the last 11 years, he has actually got quite arrogant and quite an ego to go along with it. He can afford to have a house or two sit empty for awhile.

Update. My realtor flipping friend says the Westside market is slow. He is a little more humble and a little less arrogant these days. Let's see how long he is humble for. He doesn't like what he sees. He is deep in the market right now.

[jesse1]

He doesn't like what he sees.

FWIW my VW developer friend is not seeing much interest for the new spec build on the market. Based on convos there should be little doubt that the margins are thin for a few builders, not only because they overpaid for the land but also because they aren't experienced and things took longer, with more expense, than they thought. I think a few of them are starting to appreciate it isn't always easy money.

[gse36]

He doesn't like what he sees.

FWIW my VW developer friend is not seeing much interest for the new spec build on the market. Based on convos there should be little doubt that the margins are thin for a few builders, not only because they overpaid for the land but also because they aren't experienced and things took longer, with more expense, than they thought. I think a few of them are starting to appreciate it isn't always easy money.

Theres 93 houses for sale in the once-hot seafair area in richmond (i.e. in early 2011 a lot of flipping was going on in that area. people grab up land, build houses, or flip assignment contract on the land). only 7 sold in the past month.

the area is about 2 square kilometres

13 MOI.

[jesse1]

gse, yeah that area is definitely slow. It's a funny thing, when prices are bid up to such a degree we're entering stratospheric territory where in most any other market this would be "luxury" where longer days on market are expected. In the extreme multimillion dollar mansions can sit vacant for years because buyers are sparse. Yet in Vancouver "multimillion" for a new build in any city adjoining or within Vancouver City is par for the course. So here we have a market that expects high turnover but with prices that in other locales would be featured on the "lifestyles of the rich and famous" inset in the local real estate rag.

Funny times; if one believes the sefair stuff is "luxury" then 13 MOI isn't as big a deal.

[tdma800]

Rofina, yes! I am not joking.

My friend who knows some guys who have contacts in Mainland China indicates that June sales are going to pick up big time. The delay was mostly due to the Bo Xilai fiasco, but that's all cleared up now and it's full speed ahead. In my friend's words: "Anything that isn't bolted down is heading for Vancouver."

Actually, they are buying in UK, such as London, Oxford and Cambridge. Reasons: cheaper + famous universities.

Sure its cheaper in England, but would you want to live there?

[rofina]

My friend who knows some guys who have contacts in Mainland China indicates that June sales are going to pick up big time. The delay was mostly due to the Bo Xilai fiasco, but that's all cleared up now and it's full speed ahead. In my friend's words: "Anything that isn't bolted down is heading for Vancouver."

Actually, they are buying in UK, such as London, Oxford and Cambridge. Reasons: cheaper + famous universities.

Sure its cheaper in England, but would you want to live there?

51,456,400 people said "Yes!"

[tdma800]

http://www.youtube.com/watch?v=8LL2jyxjk7o

[rofina]

http://www.youtube.com/watch?v=8LL2jyxjk7o

Thanks!

[vanrealtalk]

My friend who knows some guys who have contacts in Mainland China indicates that June sales are going to pick up big time. The delay was mostly due to the Bo Xilai fiasco, but that's all cleared up now and it's full speed ahead. In my friend's words: "Anything that isn't bolted down is heading for Vancouver."[/quote]

Actually, they are buying in UK, such as London, Oxford and Cambridge. Reasons: cheaper + famous universities.[/quote]

Sure its cheaper in England, but would you want to live there?[/quote]

I have been living in England for 5 years and my brother is still there since late 70's. I will buy air ticket immediately if I can live and work there!

[tdma800]

My friend who knows some guys who have contacts in Mainland China indicates that June sales are going to pick up big time. The delay was mostly due to the Bo Xilai fiasco, but that's all cleared up now and it's full speed ahead. In my friend's words: "Anything that isn't bolted down is heading for Vancouver."

Actually, they are buying in UK, such as London, Oxford and Cambridge. Reasons: cheaper + famous universities.[/quote]

Sure its cheaper in England, but would you want to live there?[/quote]

I have been living in England for 5 years and my brother is still there since late 70's. I will buy air ticket immediately if I can live and work there![/quote]

That probably means you're the type that likes to work during the day and then go home right after work.

[vanrealtalk]

go home after work in London? you've probably never been there.
go home after work actually apply here in vancouver.

[timber2012]

go home after work in London? you've probably never been there.
go home after work actually apply here in vancouver.

Try calling someone at 4:55 here in Vancouver... they've already left to their second job so they can pay their mortgage to "enjoy" living in the best place on earth.