Real Estate Talks

http://www.morganrice.com
Check my website.

1. Age/ Location/ Occupation

32 / Victoria / Accountant

2. What real estate do you own?

None yet

3. What's your view on the market going forward? Buyer or seller? Which parts of the market?

It is going down, down, down. Buyer maybe if the right prices show. My business is here so I'm staying in Victoria

4. Anything else?

I have been spending way too much time for the last 2 months reading this forum.... really enjoy the posts and the information I have accumulated. Just want to say that the posts with backup info and thought processes hit home the most. Statements that aren't backed up seem a waste of time.

A warm welcome to all the new posters!!!

I am one of the key people here.

Wow, great to see important people here.
How's business?

1) Age / Location / Occupation

32/Van/Engineer
2) What real estate do you own?
SFH, 375K value, 250k debt.
3) What's your view on the market going forward? Buyer or seller? Which parts of the market?
This market is in serious trouble. The Median Multiple in Van is way way high, the loan values are way to high, and pricing has just begun to show signs of dropping. This combined with RE boards attempt to keep pricing artificially inflated, will slow the fall for a bit.. In particular I see condo's taking an enormous dive...The ownership to rent ratio is way way too high.. The only reason people were buying, was for investments, when the faith is lost, these prices will com screaming down, as the speculators take a bath...
4) Anything else?
Just want to learn more and more.

1) Age 26, CGA
2) Live: Dowtown Lofe
3) Bought recently 350,000 900 square feet
4) Thoughts- Vancouver real estate always rebounds.

1) Age / Location / Occupation
30/Vancouver/Business Services
2) What real estate do you own?
Minor stake in a Chilliwack development. Bought a couple of years ago due after giving in to pressure from SO as a hedge against being "priced out forever". I'll be happy as a clam if I get we get our original investment back
3) What's your view on the market going forward? Buyer or seller? Which parts of the market?
Bearish, prices will continue to drift down over next few years. Buyer. Modest SFH in Vancouve West.
4) Anything else?
Want to learn from people who are smarter and more experienced than me

1) Age / Location / Occupation
37 / Squamish / Sales (not real estate)
2) What real estate do you own?
2700 sqft Squamish box house. Purchased $270,000. Mortgage free 3bd/2bath up. 2bd/1bath suite down (rented $900 per month)

1998 bought 1400sqft townhouse $185,000
2003 Bought current house and rented out townhouse ($1,200 per month).
2004 Sold townhouse($280,000). Bought 4000sqft full duplex (one side with suite) in Kamloops ($265,000) (rent $2300 to $2900 permonth)
2008 Sold Duplex $498,000. Paid off principle residence

I have been a bull but now I'm a bear. I made hay while the sun shone and then I put it in the barn just before it started raining.. I would say that my house has gone from about $630,000 (high) to $500,000 but its hard to tell since nothing is selling here. Still mortage free and $900 rent coming in puts me in a better spot than most. I can't believe prices went so high, I can only see them crashing back down. They need to go back down to the historical 3-4x income, and rent to price ratios need to go back to 1% per month of purchase price. It's going to be a long and ugly ride down. Mostly I hang out on bear sites. I've been reading this one for quite some time mostly to see the other side of things. I can't believe that there are still people who are bullish out there. I can't see any basis for it, but that's why I'm here. Perhaps I'll learn from the other side.

1) Age / Location / Occupation
Me: 31/Van/Cross-border & US Investment Specialist
www.pacificapartners.com

2) What real estate do you own?
None. Wanted to buy 2 yrs ago, but thought market was overvalued.

3) What's your view on the market going forward? Buyer or seller? Which parts of the market?
Bearish. Though I think the worst will be over by Fall 2010. That's about the time me & the missus will look at buying a SFH in Vancouver or Richmond. A couple of years ago (actually back in 2006) I used to send people links to VHBs blog and got laughed at. Nice to see that fundamentals still apply.

4) Anything else?
Like this website, religiously read Mohican's blog, love the insight there as well. I'm looking to stay on top of developments as well as to gauge investor sentiment. I find too many are still too bullish here. I'm astounded that just by looking at the chart of Van RE prices since the early '80s, some think this is just a breather and we'll soon be back on our way. RE cycles take 7-10 years, these things take time. There's no rush for anyone who is a first time homebuyer.

I keep meaning to put something in here but then never do anything about it...

1) Age / Location / Occupation
36 / Burnaby / Software

2) What real estate do you own?
Own own home in North Burnaby, since late 2001

3) What's your view on the market going forward? Buyer or seller? Which parts of the market?
Bearish - prices like ours cannot be sustained forever. I'm currently neither a buyer or seller, sitting tight on what I own. When prices make sense again I will look to upgrading existing principal residence. Will try to stay in N. Burnaby, but would consider other select parts of the LM

4) Anything else?
I was an avid reader of VHB site from 2005 until it went down, then switched over to following RET. Was watcher for many years, finally became active in mid-2007. This site seems to have a good mix of RE and general economy discussions - neither of which I am expert in, but I do enjoy reading different opinions and soaking up knowledge from those that seem to know what they're talking about.

1) Age / Location / Occupation
2) What real estate do you own?
3) What's your view on the market going forward? Buyer or seller? Which parts of the market?
4) Anything else?

1) Marco / 30 / North Shore / AVP Restructuring

2) Bare land with residence being constructed in Langley / North Shore townhouse rented through employer

3) I want to buy a few places in the US but not for rental, strictly for enjoyment so likely a home in Boston and another somewhere hot like California or whatever. Not interested in buying anything anywhere in Canada other than one principle residence which is being constructed. Canada economy is going to tank and the real estate along with it. For the average person, wait until 2010 or later to buy. Don't believe the news or the hype.

1) Age / Location / Occupation
2) What real estate do you own?
3) What's your view on the market going forward? Buyer or seller? Which parts of the market?
4) Anything else?

1) Marco / 30 / North Shore / AVP Restructuring

2) Bare land with residence being constructed in Langley / North Shore townhouse rented through employer

3) I want to buy a few places in the US but not for rental, strictly for enjoyment so likely a home in Boston and another somewhere hot like California or whatever. Not interested in buying anything anywhere in Canada other than one principle residence which is being constructed. Canada economy is going to tank and the real estate along with it. For the average person, wait until 2010 or later to buy. Don't believe the news or the hype.

How many days a month do you commute to the U.S.?

I hold dual citizenship in case your question was leaning towards the ideal situation to purchase US real estate.

It varies but I find I typically spend 75% of my time in the US and 25% in Canada although it can change. There have been times where I spend 3 months in the US, go to China or Japan only to return to the US again and work another 2 months then come back to Vancouver.

It varies. I imagine I will be very busy in the next few months. So many companies are in a restructuring phase either physically or financially. Looks like I'm going to be gone a while!

1) Age / Location / Occupation
32 / UK / Consultant

2) What real estate do you own?
Nothing currently looking to purchase when I get back to Vancouver

3) What's your view on the market going forward? Buyer or seller? Which parts of the market?
I'd imagine the market is going to stabilise, prices are high, but the GVRD is one of the most attractive places to live in the world so people will pay to live (t)here. I'm looking to purchase vacant land in or around North Van to build a home. Or if the price is right a condo downtown and a recreational lot for a cabin If anyone has any suggestions let me know.

4) Anything else?
Good website, I like to see everyone's opinion.

1) Age / Location / Occupation
32 / UK / Environmental Consultant

2) What real estate do you own?
Nothing currently looking to purchase when I get back to Vancouver

3) What's your view on the market going forward? Buyer or seller? Which parts of the market?
I'd imagine the market is going to stabilise, prices are high, but the GVRD is one of the most attractive places to live in the world so people will pay to live (t)here. I'm looking to purchase vacant land in or around North Van to build a home. Or if the price is right a condo downtown and a recreational lot for a cabin If anyone has any suggestions let me know.

4) Anything else?
Good website, I like to see everyone's opinion.

Do you have a similarly rosy outlook for the UK? Are you still in the UK, or have you made your move? Welcome, btw.