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thinktom
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Re: RE Anecdotes - Post them here!

Mon Nov 29, 2010 11:09 am

I heard from an agent that last week there was a lot on the west side, something like 43 x 109 asking $1.495. 22 multiple offers presented and then it sells for $2M. :shock:
There are many examples of 15-25 west side offers per lot going on right now. Dunbar, UBC, Arbutus, etc.. is hot, Point Grey just had a 50-ish ft lot asking $1.5M sell for $2m. That's perhaps the one JH is talking about.

In other areas, we just sold our listing on Todd St (East Van near Boundary), asking $599, sold for $627,350.00 (3 offers). Our buyers purchased a home on a 50ft lot near Main st for $120k over asking price, selling for $1.120,000.00 (4 offers). We also had buyers purchase at Main and 28th for over $800k for a 25 ft'er (3-4 offers). We also had a TH on the East side that has been listed for a while sell for $665k. I do not speak for other realtors nor for other areas than those mentioned but it's busy for sure. There are quite a few more solds signs around.

Listings are way down. Check out the Macdonald ad that many of you might see regularly on the back of the Van Sun. It's half the size it usually is.

It's ok, Taipan. Maybe NEXT year the world will collapse and you can cackle madly at your wisdom and good fortune.
 
poundcruncher
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Re: RE Anecdotes - Post them here!

Mon Nov 29, 2010 11:16 am

I heard from an agent that last week there was a lot on the west side, something like 43 x 109 asking $1.495. 22 multiple offers presented and then it sells for $2M. :shock:
There are many examples of 15-25 west side offers per lot going on right now. Dunbar, UBC, Arbutus, etc.. is hot, Point Grey just had a 50-ish ft lot asking $1.5M sell for $2m. That's perhaps the one JH is talking about.

In other areas, we just sold our listing on Todd St (East Van near Boundary), asking $599, sold for $627,350.00 (3 offers). Our buyers purchased a home on a 50ft lot near Main st for $120k over asking price, selling for $1.120,000.00 (4 offers). We also had buyers purchase at Main and 28th for over $800k for a 25 ft'er (3-4 offers). We also had a TH on the East side that has been listed for a while sell for $665k. I do not speak for other realtors nor for other areas than those mentioned but it's busy for sure. There are quite a few more solds signs around.

Listings are way down. Check out the Macdonald ad that many of you might see regularly on the back of the Van Sun. It's half the size it usually is.

It's ok, Taipan. Maybe NEXT year the world will collapse and you can cackle madly at your wisdom and good fortune.
Tom, I've posted a couple of times on the lack of sales of new homes in the westside compared to last year. You didn't add any color there. thoughts? I see re-sales are hot but new construction is all but dead.
 
Johnny Horton
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Re: RE Anecdotes - Post them here!

Mon Nov 29, 2010 2:54 pm

Interesting information Tom. Thanks. :mrgreen:
 
horus
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Re: RE Anecdotes - Post them here!

Mon Nov 29, 2010 5:15 pm

A family friend who moved here recently, has bought and paid above asking. I casually chatted with the daughter and she said her parents were willing to pay more for the right location, and money wasn't an issue since they had a successful business before emigrating here.

1093 38th Ave was sold for $1,759,000 in 2009.
For sale @$2.8M (V810710) - 4 berooms + 4 bathrooms.
6 Bedrooms + 5 bathrooms later, it was $3.388M. It was taken off the market. Then it was offered for rent @$4,500/month in the craiglist - "Suitable for a family or share by a few people." In Shaughnessy? :shock:
W 38th Ave 1093_craiglist_$4,500.jpg
W 38th Ave 1093_craiglist_$4,500.jpg (209.54 KiB) Viewed 4539 times
 
eyesthebye
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Re: RE Anecdotes - Post them here!

Mon Nov 29, 2010 6:24 pm

I heard from an agent that last week there was a lot on the west side, something like 43 x 109 asking $1.495. 22 multiple offers presented and then it sells for $2M. :shock:
There are many examples of 15-25 west side offers per lot going on right now. Dunbar, UBC, Arbutus, etc.. is hot, Point Grey just had a 50-ish ft lot asking $1.5M sell for $2m. That's perhaps the one JH is talking about.

In other areas, we just sold our listing on Todd St (East Van near Boundary), asking $599, sold for $627,350.00 (3 offers). Our buyers purchased a home on a 50ft lot near Main st for $120k over asking price, selling for $1.120,000.00 (4 offers). We also had buyers purchase at Main and 28th for over $800k for a 25 ft'er (3-4 offers). We also had a TH on the East side that has been listed for a while sell for $665k. I do not speak for other realtors nor for other areas than those mentioned but it's busy for sure. There are quite a few more solds signs around.

Listings are way down. Check out the Macdonald ad that many of you might see regularly on the back of the Van Sun. It's half the size it usually is.

It's ok, Taipan. Maybe NEXT year the world will collapse and you can cackle madly at your wisdom and good fortune.
\


thanks for the feedback Tom. Looks pretty good if you already own...the pain continues if you don't.
the cure for higher prices is moving to a destination with lower prices
 
Johnny Horton
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Re: RE Anecdotes - Post them here!

Mon Nov 29, 2010 8:23 pm

thanks for the feedback Tom. Looks pretty good if you already own... the pain continues if you don't.
TurdPuppets, does it hurt yet? :mrgreen:
 
Taipan
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Re: RE Anecdotes - Post them here!

Mon Nov 29, 2010 9:00 pm

..
Last edited by Taipan on Sun Aug 11, 2013 12:07 am, edited 1 time in total.
 
Johnny Horton
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Re: RE Anecdotes - Post them here!

Tue Nov 30, 2010 8:48 pm

25% co-erection by the end of the year....yes, we're laughing too.
Laughing at you. :mrgreen:
 
RiskArb
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Re: RE Anecdotes - Post them here!

Mon Dec 27, 2010 10:30 pm

Realtor from Singapore woke me up this morning to present an offer from a mainland Chinese buyer for my condo.

If I sell, it would be the highest price so far obtained in the development. And mainland money is new to this part of town (East Coast SIngapore) as they've typically only played in the ultra high-end (Orchard Road and Marina Bay).
Update. I turned down the above offer........and last week I got another offer that's 3% higher. Malaysian Chinese buyer. I could probably hold out for another 10-20% easily over a year (still very cash flow positive at this price)..... but decided to take it.

Elsewhere:

- They've introduced new anti-speculation measures in HK. For any purchase above, HK$8mm ($1mm Canadian), you need 50% down. And for any holdings less than 6 months, there's a 15% new stamp duty. All sounds good on paper, but it's useless against the wave of Chinese money who pay $$$ for everything.... and it's made it even more difficult for locals to own a home. Sales to HK buyers have come to a grinding halt.

- Kicking myself over 2 PE deals I didn't do in 08/09. Fund partners shot me down. The Indonesian real-estate PIPE deal is up 5x and the Mongolian mining deal is up 7x. You can pretty much IPO a pig in Asia these days and it would fly..... all sorts of companies (Italian luxury labels, Brazilian and Russian miners) flocking here for the "price inelastic" money. All us distressed/special sits guys sitting on our hands looking pretty stupid.
 
Johnny Horton
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Re: RE Anecdotes - Post them here!

Tue Dec 28, 2010 4:14 pm

Sounds like things are rockin'.

However, unless you have graphs and statistics and charts etc to back this up, it's all hearsay and none of will believe it until 3 years down the road when it's all documented and put out by a government TurdPuppt. (Just kidding)

hahahahaha :mrgreen:

Riskarb, good for you. :mrgreen:
 
poundcruncher
Site Admin

Re: RE Anecdotes - Post them here!

Tue Dec 28, 2010 4:41 pm

Sounds like things are rockin'.

However, unless you have graphs and statistics and charts etc to back this up, it's all hearsay and none of will believe it until 3 years down the road when it's all documented and put out by a government TurdPuppt. (Just kidding)

hahahahaha :mrgreen:

Riskarb, good for you. :mrgreen:
When will the Chinese bag lady collecting cans from my recylying be reflected in the charts? I wonder how big of a downpayment she has..
Last edited by poundcruncher on Tue Dec 28, 2010 5:16 pm, edited 1 time in total.
 
Johnny Horton
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Re: RE Anecdotes - Post them here!

Tue Dec 28, 2010 5:03 pm

nice to see you still riled. :mrgreen:
 
Johnny Horton
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Re: RE Anecdotes - Post them here!

Sun Jan 09, 2011 6:00 pm

Today I heard that there were very well attended open houses.
Look out TurdPuppets....more pain in 2011. :mrgreen:
 
RiskArb
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Re: RE Anecdotes - Post them here!

Tue Jan 11, 2011 9:43 pm

However, unless you have graphs and statistics and charts etc to back this up, it's all hearsay and none of will believe it until 3 years down the road when it's all documented and put out by a government TurdPuppt. (Just kidding)
Quoted for truth! I make more charts than anyone (I made an algorith the other day to predict political leaning) but the only ones I make decisions on are the ones I construct myself..... if you're relying on the Case Shiller or something pumped out by a major agency/i-bank/stats can (and assuming it captured the correct data for the precise investment you're looking at - rare!), you're looking in the rear view mirror! In fact, if you're making any decision based on any news article from Bloomberg, Wall Street Journal, [insert credible publication here], you're probably too late.

Do your own due diligence! Knock on doors, talk to people, listen, peel the onion!!!

....... small print: one should note by my recently pedantic tone that it's probably a good time to sell! ;)
 
eyesthebye
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Re: RE Anecdotes - Post them here!

Tue Jan 11, 2011 10:01 pm

"RiskArb"

Do your own due diligence! Knock on doors, talk to people, listen, peel the onion!!!
I did this and shared my findings with this forum - check the bear reaction to my observations ...reality is not a popular place to be if you're a bear.
the cure for higher prices is moving to a destination with lower prices

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