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Re: Vancouver indvidual property sales details

Wed Mar 30, 2011 10:21 am

...even less so. :D

Come. On. It's south east side across from a mall. What drives that land value, easy access to shopping? I don't begrudge you skinning these sheep but save the Goldilocks tales for 'savvy investors'.
the dogs bark but the caravan moves on
 
eyesthebye
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Re: Vancouver indvidual property sales details

Wed Mar 30, 2011 10:32 am

"registered"
What drives that land value
this statement oozes with naivety. Have you learned nothing in the 4 yrs you've been posting here?
the cure for higher prices is moving to a destination with lower prices
 
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Re: Vancouver indvidual property sales details

Wed Mar 30, 2011 11:37 am

You know ETB, the gods are going to make an example of you and there is going to be a lot of collateral damage.

I, for one, am hoping to be standing far away from the lightning rod..
Redistribute consumption, not income.
 
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Re: Vancouver indvidual property sales details

Wed Mar 30, 2011 12:18 pm

Have you learned nothing in the 4 yrs you've been posting here?
The consequence of hubris, ignorance and greed-fueled gullibility defining another's world view?
the dogs bark but the caravan moves on
 
thinktom
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Re: Vancouver indvidual property sales details

Wed Mar 30, 2011 4:36 pm

...even less so. :D

Come. On. It's south east side across from a mall. What drives that land value, easy access to shopping? I don't begrudge you skinning these sheep but save the Goldilocks tales for 'savvy investors'.
48 by 115 is a desirable lot to build. Do I think it's worth $965? Hell no. But somebody did and several builders were obviously bidding on it.
 
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Re: Vancouver indvidual property sales details

Wed Mar 30, 2011 4:51 pm

several builders were obviously bidding on it
Do you think it was builders or an owner-occupier? I don't know how common either types are in purchasing these days. Is it mostly investors outbidding everyone else these days? Just wondering.
 
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Re: Vancouver indvidual property sales details

Wed Mar 30, 2011 5:40 pm

several builders were obviously bidding on it
Do you think it was builders or an owner-occupier? I don't know how common either types are in purchasing these days. Is it mostly investors outbidding everyone else these days? Just wondering.
I can't believe that a builder would be buying that to build and flip.

$950+K... you can build 3,600 sq ft. Add in HST.

I don't see a new house in the area that has sold for close to what it would be worthwhile to risk $1M.

My guess is somebody bought for themselves or the builder is a speculator because if they build this house in one day, they won't get their money back. Unless they build for $50/ft.
 
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Re: Vancouver indvidual property sales details

Thu Mar 31, 2011 1:42 pm

several builders were obviously bidding on it
Do you think it was builders or an owner-occupier? I don't know how common either types are in purchasing these days. Is it mostly investors outbidding everyone else these days? Just wondering.
The majority, if not ALL, of 50' lots being sold these days with crappy houses on them are builders tearing them down. Many people who want to actually live in the smaller bungalows will buy a 33 for the obvious price difference. I am beginning to think there are 100,000 new builders in this city. It's crazy how many lots and tear downs are having multiple offers.
 
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jesse1
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Re: Vancouver indvidual property sales details

Thu Mar 31, 2011 2:50 pm

thinktom, do you think it's owner-occupiers who are contracting the build, investors who are building on spec, or investors who have an owner-occupier "lined up" who will take title once the property is built? I've heard of all 3 but don't know if one is massively dominating the others. It also provides clues who is actually the "bagholder" at the end.

I don't necessarily doubt the endless supply of limitless wealth buying properties, but I'm wondering what's ultimately to be done with these multimillion dollar structures once they're built. If it's anything like parts of SE Asia I'm familiar with, many will simply sit vacant. And yes this is nothing new for anyone who's been in the city for more than 15 years.
 
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Re: Vancouver indvidual property sales details

Thu Mar 31, 2011 2:52 pm

I agree Jesse .. I think Vancouver is a second home sort of city.

Makes you wonder what could happen if all the 'hot' money vanished and people had to dump extraneous assets.
Redistribute consumption, not income.
 
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Re: Vancouver indvidual property sales details

Thu Mar 31, 2011 2:59 pm

Makes you wonder what could happen if all the 'hot' money vanished
Around these parts, that's like wondering what life would be like if the sun rises in the west.
 
thinktom
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Re: Vancouver indvidual property sales details

Thu Mar 31, 2011 6:22 pm

thinktom, do you think it's owner-occupiers who are contracting the build, investors who are building on spec, or investors who have an owner-occupier "lined up" who will take title once the property is built? I've heard of all 3 but don't know if one is massively dominating the others. It also provides clues who is actually the "bagholder" at the end.

I don't necessarily doubt the endless supply of limitless wealth buying properties, but I'm wondering what's ultimately to be done with these multimillion dollar structures once they're built. If it's anything like parts of SE Asia I'm familiar with, many will simply sit vacant. And yes this is nothing new for anyone who's been in the city for more than 15 years.
Today, 403 W. 19th sold. List was $1.098M. Sold for $1.322. 8 offers. Families AND builders. 1875 Sq ft, 3 bed 2 bath.

Description- Fantastic Cambie Village location for this charming updated craftsman bungalow. 2 bedrooms on the main plus a large brand new 1 bedroom suite down. This home features leaded glass doors and windows, classic fireplace & custom built-in cabinets. Open plan kitchen with centre island. Huge entertainment sized deck and private landscaped yard - perfect for the kids. North West corner lot offers great light. Detached Garage. Plans available for a 3rd floor additiion. Just steps to all that Cambie Village has to offer including shops, restaurants, the Park Theatre and Canada Line transportation.

The final price was bought by a builder and being torn down. I gotta think regular families were priced out by builders on the bidding on this house. It was Gabe Bandels, I'll ask him next time I see him.

Right around the corner from that house on 18th, about the W 4oo block, Tom Gradecek has a new house on a 30' by 122. Listed for $2.39M. 2300 sq ft!! If it gets that price, I'll be amazed.

I don't have an answer Jesse1. I do know that many people, overseas and local Chinese included, that came through our last Dunbar listing were actual families looking for homes, not just builders. Although the two offers we got were from builders. The builder who paid $1.55 was building 4, 3 were sold already.
 
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Re: Vancouver indvidual property sales details

Thu Mar 31, 2011 8:30 pm

charming updated
Why bother updating when everybody knows bobcat is on its way
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Re: Vancouver indvidual property sales details

Thu Mar 31, 2011 9:17 pm

Makes you wonder what could happen if all the 'hot' money vanished
Around these parts, that's like wondering what life would be like if the sun rises in the west.
Anything is possible... but not probable.
 
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Re: Vancouver indvidual property sales details

Fri Apr 01, 2011 2:36 pm

not too far from Bates Motel
no suite
and a standard size lot too!

44 44TH AVE E
MLS V876516
asking $899,000
assessed $765,900
lot size 33x122
house sqft 2431
sold in 14 days for $1,003,000
"70's meets Yaletown" this 70's Bi-Level has had a fabulous Euro look reno upstairs. Very clean lines and minimalist look. Bamboo floors, lots of pot lights, and wonderful new kitchen. Large open plan main floor, 4 pce ensuite in master and high walkout basement with bathroom and fireplace. Lower level ideal to make a large suite and keep the rex room for owner. Minutes to Oakridge, Canada Line and Van Horne Elementary
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the cure for higher prices is moving to a destination with lower prices

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