Tuesday, 11 October 2011

4th time in 4 years for sale ... not new residents...flipping/laundering

this house sold in 2008 for a little over 1 million, it sold again in 2009 and again in 2010....here we are again in 2011 and it is for sale yet again for 1.8 million more than it did in 2008 and there have been no changes to the property. this is being flipped and most likely a money laundering vehicle just like the majority of the houses in this area. this is not people from china buying and moving to vancouver like the media and realtors would like you to think. is there anybody out there........bm

Thursday, 15 September 2011

sept. 15 2011

This is a prime example of what has been happening to the once great city of vancouver. This house is right in the heart of the real estate bubble .... 20th and vine. The house was sold for 2.1 million in march 2011 , up 1 million from the previous year. The house rented for $2400 for the past 7 years. The tenants were a family of 3 , hard working , earning a decent living and contributing to the economy. The house was bought by "foreign speculators" on one of those "day buying trips". The tenants were asked to leave within the month of the sale. Here we are 6 months later and nobody lives there, the yard is overgrown, garbage piled in the backyard ..... A once nice place turned into a cold , soulless lot. These houses are littered around this city. This particular hood sits abt 20 percent empty yet fully owned. Sad - soon this hood will sit 50 percent empty and they will all be for sale.

We have been in the biggest real estate spec. bubble this city has ever seen and it has already popped- did you hear it?


Wednesday, 14 September 2011

Vanhattan????? Tooo funny

Sept 14 , 2011

bc housing magazine cover .... Vanhattan...enough said- the top is in

i have seen massive supply come onto the market on the west side especially in the hot area of trafalgar park where chinese speculators and money washers have dominated the market. If you take a stroll through that area , you will walk through blocks that have 4 and 5 for sale signs per block. we have seen a generational top is my bet and will not see the recent highs for decades to come. I have heard of chinese buying houses just 3 months ago that are now trying to sell them already-good luck. for all those who have not yet cashed in their "lottery tickets" because you thought prices here would rise forever - sit back , enjoy a glass of wine ( as Cam Good would say ) and watch the air deflate from your nest egg.


Friday, 8 July 2011

quality construction for $2.7 million?

take a stroll around the neighborhood with the hottest real estate in north america....16th ave to 25th ave/macdonald st to arbutus st. This is the quality of construction that is taking place. these pieces of crapola are listed for $2.5 to $4 million........this will be worse than the infamous leaky condos.on another note , there is an eerie feeling in the city right now. after the recent panic buying by 'rush foreign buyers' i'm sensing a pop about to take place. not gonna be pretty.

Wednesday, 15 June 2011

mark carney continues to warn...he chose vancouver as the place to give this speach- wonder why?

Carney Says Authorities Must Remain Vigilant About Canadian House Prices

Bank of Canada Governor Mark Carney said housing prices in some parts of the country are reaching “severely unaffordable” levels, reinforcing the need for Canadian authorities to remain “vigilant” against a correction.
Carney reiterated the bank’s forecast that Canada’s housing market will cool as part of an economic “rebalancing,” in which business investment and exports will take over from consumers and governments as engines of growth. He said some parts of the housing market, such asVancouver, may be rising to “extreme” valuations driven by fear and greed, rather than supply and demand.
“The risk is that expectations become extrapolative, prompting the classic market emotions of greed and fear - greed among speculators and investors, and fear among households that getting a foot on the property ladder is a now-or-never proposition,” Carney, 46, said in the text of a speech he’s delivering today in Vancouver, a city where housing prices rose 26 percent in May from a year earlier, the Canadian Real Estate Association said today.
The central-bank governor restated his forecast that economic growth in Canada is slowing to a “modest pace,” weighed down by temporary factors such as supply-chain disruptions in the auto sector and rising energy prices that are curbing consumer spending. Growth should pick up in the second half of the year, he said.
“Canadian authorities will need to remain vigilant as they have been in the past to the possibility of financial imbalances developing,” Carney said.

Eventual Rise

Carney reiterated the bank plans to “eventually” raise its benchmark rate from 1 percent, where it has stood since September. He reiterated that any increase will be “carefully considered,” using language from earlier announcements.
Carney said housing prices have risen 31 percent nationally from their bottom in early 2009, and are now 13 percent above their previous peak before the global recession. He attributed the rise partly to “cheap credit” made available by low interest rates.
The bank estimates the proportion of Canadian households “highly vulnerable” to an economic shock has increased to its highest level in nine years. Canadians are now as deep in debt as Americans and the British relative to their incomes, he said, adding that “households will need to be prudent in their borrowing, recognizing that over the life of a mortgage, interest rates will often be much higher.”
He also said that housing-related debt is the “single largest exposure” for Canadian financial institutions.” Real- estate loans make up over 40 percent of the assets of Canadian banks.

‘Important Vulnerabilities’

“Any housing excesses could generate important vulnerabilities in the financial system,” he said.
Carney said certain regions and market segments could be more vulnerable than others, referring to the possibility of an “overshoot” in the condominium market in major cities. He said the average selling price of a home in Vancouver now stands at nearly 11 times average family income, a multiple on par with Hong Kong and Sydney.
“Such valuations are extreme in both Canada and globally,” he said.

Saturday, 28 May 2011

west side property, especially HKS , is going up 10-15% a month- which is normal and sustainable so no need to worry yet. 95% of sales are to mainland chinese who are buying multiple properties and flipping them to each other. the houses are still sitting empty all year long. the one's that actually live here in them are using the school system, hospitals yet don't pay taxes or contribute to the city in any way other than consumption taxes and property taxes. maybe this is just what the city wants....every house to be valued over 2 million so they can collect large property taxes. nobody who works in this city can afford to live near the best schools and have no chance of buying a house in this market which is now almost completely dominated by foreign buyers and specultors. how can companies hire workers to come and work in vancouver? company headquarters will all move elsewhere which will result in large losses of capital for this city.  wake up gov't. time to put foreign ownership rules in place. vancouver's homes should not be treated like stocks and bonds and as places to wash money- some of us, although getting fewer by the day, actually live and work here.

this property is amazing- such a great deal!!!!!!! it's only up 120% in one year

REALTORS® Know Real Estate
MLS® # GOAdvanced SearchREALTOR® SearchCompareMy Favourites
MLS®: V887015
For Sale: $2,489,000 
View Multimedia Driving Directions Mortgage Calculator Print Email to a Friend
MLS® V887015
Add To My Favourites
Add to Compare
Building Type
: House
: 2
Bathrooms (Total)
: 3
Floor Space
2400 sqft
: 2
Built in
: 1950
Land Size
: 50.0 x 122.0
: View
: Freehold
: 2395 W 22ND AV
Vancouver, BC   V6L 1L8

Emily Chi
Telephone: 604-781-8838
Fax: 604-266-5165

Royal Pacific Realty Corp.
Royal Pacific Realty Corp.
#550 N Tower, 650 W. 41st Ave
Vancouver, British Columbia   V5Z 2M9
Telephone: 604-266-8989
Fax: 604-266-8829
Email Office
Office Website

2395 W 22ND AV Vancouver, BC   V6L 1L8  
0.9 km
0.9 km
Bird's eye

 Driving Directions
General Description

Builder alert. Highly prized CORNER SOUTH facing unit in prime ARBUTUS area with PW High School and TRAFALGAR Elementary school catchment. Measurement, bathroom are estimates. Cannot go inside due to Tenancy ending August. Rent $3000. QUIET. Excellent expensive neighbourhood. DO NOT DISTURB TENANTS. Offer any time. DO NOT DISTURB TENANTS. Inside floor and room measurements & numbers are very approx.
: View

: Yes
: Detached
Building Type
: House
Floor Space
2400 sqft
Built in
: 1950
: 2


50 ft
Land Size
: 50.0 x 122.0