This is a friendly, interactive exchange of information on all Real Estate related subjects. Follow on Twitter: @RETALKS


Search found 61 matches

by westar99
Mon Jun 13, 2016 9:04 am
Forum: Real Estate Talks
Topic: NOT using a lawyer when selling
Replies: 3
Views: 1962

Re: NOT using a lawyer when selling

Why would you not pay the $700-$1,000 or so legal fee plus the title search fees to pay a lawyer (with professional liability insurance) to do proper due diligence of a big purchase (plus draft up the actual contractual documents) when the realtors are charging most likely $20,000 - $50,000???
by westar99
Fri Jun 03, 2016 3:40 pm
Forum: Real Estate Talks
Topic: Monthly stats for May
Replies: 36
Views: 8218

Re: Monthly stats for May

I completely agree with the last post. I think it's too late to stop this Tsunami. However, it's not too late to ensure that the public gets some benefit from this wave of money and to ensure at least some fairness in the process. However, it's not going to happen because our politicians of all side...
by westar99
Wed May 18, 2016 7:50 pm
Forum: Real Estate Talks
Topic: 8X on the Park - Is this the future???
Replies: 11
Views: 4540

Re: 8X on the Park - Is this the future???

This rumour may not be true but one source told me that 8X was completely oversubscribed and sold out even at these outrageous prices!

Could someone confirm?
by westar99
Mon May 16, 2016 5:59 pm
Forum: Real Estate Talks
Topic: 8X on the Park - Is this the future???
Replies: 11
Views: 4540

Re: 8X on the Park - Is this the future???

Exactly my feeling! We've been talking about how expensive everything is but it would appear that those now standard $1,000 a square foot condos in Downtown are a bargain compared to this pre-sale at $1600 a foot so far from the water and so little waterview. I've always viewed pre-sales as the equi...
by westar99
Mon May 16, 2016 1:33 pm
Forum: Real Estate Talks
Topic: 8X on the Park - Is this the future???
Replies: 11
Views: 4540

8X on the Park - Is this the future???

The prices in this new pre-sale seem astronomical for the 2 and 3 bedroom units. At the presentation centre, they told me all of the one bedroom units were reserved for friends and family of the developer and would not be available for general buyers. The larger 1100+ sq. feet 2+den and 3 bedroom un...
by westar99
Fri May 13, 2016 10:37 am
Forum: Real Estate Talks
Topic: April Sales Remain @ Record Levels Across Metro Vancouver
Replies: 63
Views: 16683

Re: April Sales Remain @ Record Levels Across Metro Vancouve

The lack of three bedroom condos/townhomes illustrates just how poor the planning has been in this city. It seems that Gregor & Co. have designed this city for single 20 something health food eating jocks who bike ride in the rain and living in junior one bedrooms. Unfortunately, those 20 somethings...
by westar99
Wed Feb 17, 2016 11:24 am
Forum: Real Estate Talks
Topic: BC Budget - No PTT for new homes under $750k
Replies: 6
Views: 4133

Re: BC Budget - No PTT for new homes under $750k

Good points Warren. I take your point about Progressive Taxation. Unfortunately in Greater Vancouver, Progressive Taxation based on Income really is an impossible concept to utilize. We have a crazy economy where housewives and students on poverty level incomes (who pay next to nothing in income tax...
by westar99
Mon Jan 04, 2016 10:07 pm
Forum: Real Estate Talks
Topic: Eastside Townhouse sold for over 1 million
Replies: 14
Views: 6929

Re: Eastside Townhouse sold for over 1 million

westar99, I grew up in that area. I went to Churchill for my highschool and Winona parks was one of my go-tos for going on dates haha. The side walk have cherry blossoms and they look gorgeous around fall. Laurier annex is a good elementary school and Churchill is an even better highschool. The neg...
by westar99
Mon Dec 28, 2015 5:48 pm
Forum: Real Estate Talks
Topic: New to Real Estate (Vancouver) - Need Strategic Advice
Replies: 117
Views: 37284

Re: New to Real Estate (Vancouver) - Need Strategic Advice

Agree he should buy sooner rather than later (***not professional advice here - no liability if I am wrong!**** :) I am not sure buying a house in Langley/Surrey is the best for him if he works in Vancouver/Richmond. He will need to factor in commute times and tolls. While a home in Langley or Surre...
by westar99
Sun Dec 27, 2015 10:48 am
Forum: Real Estate Talks
Topic: New to Real Estate (Vancouver) - Need Strategic Advice
Replies: 117
Views: 37284

Re: New to Real Estate (Vancouver) - Need Strategic Advice

But back to the original post. What should OP do? His purchase will likely be for the long term. He needs a place for his family. If his property goes down $100,000 in the short term, is it so fatal? He could probably wait it out and come out ahead despite "black" coming up. Or maybe he should pare ...
by westar99
Sun Dec 27, 2015 9:53 am
Forum: Real Estate Talks
Topic: New to Real Estate (Vancouver) - Need Strategic Advice
Replies: 117
Views: 37284

Re: New to Real Estate (Vancouver) - Need Strategic Advice

Black did come up in the fall of 2008. Prices actually went down pretty quickly. However, all of those forces we have discussed reasserted themselves rather quickly and that short recession was actually an excellent buying opportunity in on ongoing bull market. It was a very short window if I recall...
by westar99
Fri Dec 25, 2015 11:18 am
Forum: Real Estate Talks
Topic: New to Real Estate (Vancouver) - Need Strategic Advice
Replies: 117
Views: 37284

Re: New to Real Estate (Vancouver) - Need Strategic Advice

This is an excellent thread and your initial post is all too familiar. I'll get into that in a moment. I may be wrong but my thinking is that the Metro Vancouver market will go 6-8% higher in the next year (all types of housing - condos, townhomes & SFH). The year after maybe 5% again? With a down p...
by westar99
Fri Dec 11, 2015 12:25 pm
Forum: Real Estate Talks
Topic: Eastside Townhouse sold for over 1 million
Replies: 14
Views: 6929

Re: Eastside Townhouse sold for over 1 million

What do people here think about those new townhouse developments springing up around South Vancouver/Marpole? I'm talking about places like the Churchill, Winona park around W. 63rd & Cambie area and the new ones around Oak and Park? The units tend to go for about $1.1 million or so. Would they be a...
by westar99
Sun Mar 22, 2015 10:03 pm
Forum: Real Estate Talks
Topic: Pre-Sale Condos - Main & Broadway area
Replies: 11
Views: 5730

Re: Pre-Sale Condos - Main & Broadway area

Is it that bad really? Those pre-sale buyers only had to put down 5-15% of the purchase price. As such, it looks like they've doubled their deposit. That's quite good when you consider they didn't have to deal with annoying tenants, pay property taxes or pay strata fees. I probably should have bough...