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


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by HomelessinSD
Tue Mar 13, 2018 7:09 pm
Forum: Real Estate Talks
Topic: Trends for 2018
Replies: 17
Views: 1009

Re: Trends for 2018

First: No way you can build in metro Vancouver right now for close to $100 / sf. That was barely possible 15 years ago by experienced builders, building their own homes. And the required finishes for a new, $2millon home at $100 / sf? Second: Small time (single family home people) developers have al...
by HomelessinSD
Sat Feb 11, 2017 11:03 am
Forum: Real Estate Talks
Topic: Vancouver indvidual property sales details
Replies: 4691
Views: 802378

Re: Vancouver indvidual property sales details

ETB, You've done very well with your purchase, no doubt. Nothing but congratulations to you. I was simply doubting your evaluation of your property in in this current market. Your home is mostly land value and I don't think it would command $1.8millon in the present market conditions. Maybe $1.5mill...
by HomelessinSD
Fri Feb 10, 2017 3:05 pm
Forum: Real Estate Talks
Topic: Vancouver indvidual property sales details
Replies: 4691
Views: 802378

Re: Vancouver indvidual property sales details

You might also be looking at the value of your own home a bit optimistically too: You had a $560k mortgage that has probably been reduced to about $370k now. Not so sure your home would sell for $1.8million in this current market.
by HomelessinSD
Mon Feb 06, 2017 8:35 am
Forum: Real Estate Talks
Topic: Current Buy vs Rent Scenarios
Replies: 36
Views: 3044

Re: Current Buy vs Rent Scenarios

If you own your home then lose your job, your income is 0% of your mortage. Tdma is giving good advice here Not sure how sound that advice is for this example. Mortgage job loss insurance typically has maximum coverage amounts and is also typically limited to a specific duration. You can't just los...
by HomelessinSD
Thu Feb 02, 2017 9:11 am
Forum: Real Estate Talks
Topic: Current Buy vs Rent Scenarios
Replies: 36
Views: 3044

Re: Current Buy vs Rent Scenarios

Vanlord,   Most of your assumptions are dead on: We are renting from a long time holder – 30+ years who used to live in the house and moved about 5 blocks away about 10 years ago into a bigger house with their elderly parents. They have no intention of cashing in for the foreseeable future. Last ti...
by HomelessinSD
Wed Feb 01, 2017 12:10 pm
Forum: Real Estate Talks
Topic: Current Buy vs Rent Scenarios
Replies: 36
Views: 3044

Re: Current Buy vs Rent Scenarios

Can't run full numbers right now, but using your neighbors house as an example as an investment property. Having people live in my basement isn't desirable for my family, but I would be interested as an investment: same mortgage rate, 5 year fixed at 2.94%, mortgage payment of $4,584 with 25% down o...
by HomelessinSD
Wed Feb 01, 2017 11:48 am
Forum: Real Estate Talks
Topic: Current Buy vs Rent Scenarios
Replies: 36
Views: 3044

Re: Current Buy vs Rent Scenarios

WCF: I think I am getting a great deal. But there are lots of single family homes for rent on the west side between $3000 and $4000. The 40' to 50' lots on quiet streets have land value of about $3.5 million... or they did a year ago. Appears to be lack of demand for the tear downs right now.
by HomelessinSD
Tue Jan 31, 2017 12:57 pm
Forum: Real Estate Talks
Topic: Current Buy vs Rent Scenarios
Replies: 36
Views: 3044

Re: Current Buy vs Rent Scenarios

A coherent response from TDMA would be too much to expect. I have ran some figures that I can share. Assuming the same interest rates, $1 million downpayment, $4 million home and over a 5 year period:   Mortgage payments of $15K / month. After 5 years, approximately $480k would have gone toward the...
by HomelessinSD
Mon Jan 30, 2017 9:28 am
Forum: Real Estate Talks
Topic: Current Buy vs Rent Scenarios
Replies: 36
Views: 3044

Re: Current Buy vs Rent Scenarios

I think very few people would argue that one shouldn't buy their PR. The waters muddy when looking for an investment property- especially today in Vancouver. Depends on your situation and viewpoint; Are you going to live in that PR for a long term or short term period? Do you expect the home to app...
by HomelessinSD
Mon Jan 30, 2017 8:54 am
Forum: Real Estate Talks
Topic: Current Buy vs Rent Scenarios
Replies: 36
Views: 3044

Re: Current Buy vs Rent Scenarios

I continue to rent a house in Vancouver. But I have money to either buy or invest, either in Vancouver or elsewhere. I rent because it just makes sense: The house I live in would probably sell for $4m + (mostly land value), yet I pay around $3k / month. Rent has not been raised since we moved in 4 y...
by HomelessinSD
Fri Jan 27, 2017 4:15 pm
Forum: Real Estate Talks
Topic: LePage Expects Vancouver Housing Correction in 2017
Replies: 131
Views: 7759

Re: LePage Expects Vancouver Housing Correction in 2017

  It’s been fun reading your comments and I agree with both sides.... But its my opinion that this is not going to go "to the moon". Sorry bud. Few reasons ⋅  Since 1981 the market has grown by 6.63% compounded annually. The average home price was $181,000 (1981) vs 1,70...
by HomelessinSD
Fri Jan 27, 2017 11:31 am
Forum: Real Estate Talks
Topic: LePage Expects Vancouver Housing Correction in 2017
Replies: 131
Views: 7759

Re: LePage Expects Vancouver Housing Correction in 2017

So long as there is strong rental demand there will be housing sales. I heard a professional estimate that for investment in a detached home, at 20% down, the return for rental each year is 8-9%. It only gets better with lower prices. With this in mind I cant see the downturn lasting come spring I'...
by HomelessinSD
Thu Jan 26, 2017 3:11 pm
Forum: Real Estate Talks
Topic: Current Buy vs Rent Scenarios
Replies: 36
Views: 3044

Current Buy vs Rent Scenarios

Every year or so, I find it interesting to compare the buy versus rent scenarios for different areas in Greater Vancouver. I looked up mortgage rates at TD and found a 2.94% fixed rate for a 5-year term. Sounds like a pretty solid deal, so I used their calculator for $1m, $2m, $3m, and $4m homes pu...
by HomelessinSD
Wed Sep 14, 2016 8:08 am
Forum: Real Estate Talks
Topic: The dragon in the room: Hostility toward rich, Chinese newcomers
Replies: 128
Views: 9124

Re: The dragon in the room: Hostility toward rich, Chinese newcomers

There are lots of countries in the world that don't allow any foreign ownership of land / property. There are also lots of countries that tax the hell out of foreigners for buying property in their country. Same thing with citizenship: North America is pretty unique in that it allows newborns automa...
by HomelessinSD
Thu Sep 01, 2016 10:28 am
Forum: Real Estate Talks
Topic: Vancouver's housing market crash hits home.
Replies: 147
Views: 12780

Re: Vancouver's housing market crash hits home.

Can't do it starting at condo either. The gap between property classes gets larger every year. You got lucky and I got lucky...but both instances are many years ago. I wonder how smart you'd look today trying to buy a 1.5 million $ home with 160k...that's a 1.34M mortgage. We both got lucky, so eno...
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