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Any house near Main St south of Broadway in Vancouver was going like 400k over ask minimum. Crazy. Gotta do your inspection before offer as well.
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Nov 16, 2020 21:59
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CocoaNuts posted:The train may not be steaming ahead at a steady pace but it's still in motion: Nothing to see here, folks. Keep on pickling yourself in debt. Meanwhile, back at the ranch.... https://twitter.com/CBCAlerts/status/1327318821703704577?s=20 As we head into a second/third/whatever wave of COVID-19 that we are completely botching up, continued rise in house prices are just fine. Maybe government will stop backstopping everything eventually after all?
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Nov 16, 2020 22:26
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https://twitter.com/OwenInVan/status/1328811093104357377?s=20 bubu I was told the only thing holding back moar housing was zoning?!?!?
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Nov 18, 2020 00:03
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You know what TD, you're right. I'm too hard on the older generations for completely loving over my generation. Thanks. https://twitter.com/DJDynamicNC/status/1328879791064363009 Time to rise and grind let's go boss boys and boss girls - get that money and deposit it into the TD™ Ultra High Interest Mega Savers Account™ (0.005% Interest with minimum balance of $1,000,000)
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Nov 18, 2020 17:01
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Slotducks posted:You know what TD, you're right. I'm too hard on the older generations for completely loving over my generation. Thanks. These people can get bent. ‘Don’t challenge the bullshit, just accept that your elders collectively hosed you over and will leave you with the bill.’
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Nov 18, 2020 18:17
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"There's no point in trying anything, you're hosed, just accept it and move on" Thanks, TD!
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Nov 18, 2020 19:13
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You're less class mobile than you think!
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Nov 18, 2020 19:56
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So I'm trying to buy a house in the hamilton/brantford area and apparently I've picked the worst time for it possible - but I picked through all the listing data and have gone back to see what things sold for and this game we're playing is really loving stupid. Bear in mind this is all anecdotal evidence and sample sizes are really small From the listings we've been offered and shown: Asking price ranges: 400k - 550k Hamilton 23 Listings Average Price increase from Ask to Sold: 71k Median Price increase from Ask to Sold: 70k Max Asking Price difference: 155k Min Asking Price difference: $2k Brantford 15 Listings Average Price increase from Ask to Sold: 38k Median Price increase from Ask to Sold: 35k Max Asking Price difference: 95k Min Asking Price difference: -$14.9k Thoughts: 1. gently caress realtors for trying to keep their data private - took me about 2 hours to manually pull all this data through and had to use multiple websites due to either a) missing information or b) conflicting numbers 2. gently caress our government for not having any rule in place to keep asking prices to be anywhere sensible 3. It's a complete crapshoot. Looking at comparables mean nothing at all right now.
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Nov 18, 2020 20:17
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Oh no!   quote:For many employers, remote work is quickly leading to both reduced control and productivity. This trend is rising as employees are becoming accustomed to working remotely and realize how little the employer is monitoring their activities.
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Nov 18, 2020 20:27
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Slotducks posted:So I'm trying to buy a house in the hamilton/brantford area and apparently I've picked the worst time for it possible - but I picked through all the listing data and have gone back to see what things sold for and this game we're playing is really loving stupid. Not to give them a pass but I'm not sure realtors even know how to price anything right now because the market is even more nuts than usual. Late last month in Mississauga I lost out on a townhouse. The seller had priced it at 50k above a very close comparable from 7 weeks prior. My realtor thought they had priced it too high and assumed it would go for maybe 25k over the comparable and didn't expect competition. It went for 20k over ask (ie 70k over the comparable, or almost 10%) and there were 7 other offers. Insanity.
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Nov 18, 2020 20:31
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Juul-Whip posted:Oh no! 
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Nov 18, 2020 20:54
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Juul-Whip posted:Oh no! Why yes, when I was in the office I was doing work 100% of the time, no doubt about it.
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Nov 18, 2020 21:24
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Yes, it's like a lava lamp.
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PittTheElder posted:Why yes, when I was in the office I was doing work 100% of the time, no doubt about it. Written by an employment lawyer trying to drum up work. Let's not trust anyone and performance manage them if output is not what it's supposed to be, let's just put gizmos on their computer to monitor their eye movement. Someone watched Brazil too many times.
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Nov 18, 2020 22:44
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Cold on a Cob posted:Not to give them a pass but I'm not sure realtors even know how to price anything right now because the market is even more nuts than usual. Late last month in Mississauga I lost out on a townhouse. The seller had priced it at 50k above a very close comparable from 7 weeks prior. My realtor thought they had priced it too high and assumed it would go for maybe 25k over the comparable and didn't expect competition. It went for 20k over ask (ie 70k over the comparable, or almost 10%) and there were 7 other offers. Insanity. It's also kind of meaningless. If a house is gonna sell for $500k I could 'ask' 499k, 450k, or even $1 and it wouldn't make much of a difference to the final 500 value but the 'amount above asking' would be all over the place.
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Nov 18, 2020 23:08
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Juul-Whip posted:Oh no! Luckily my VPN logs the amount of time I have it running and my screen is blanked because of sensitive data so the only output they can measure is time logged in. Looks like I'll be getting paid overtime since I leave it on during my lunch break!
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Nov 18, 2020 23:12
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Fuzzy Mammal posted:It's also kind of meaningless. If a house is gonna sell for $500k I could 'ask' 499k, 450k, or even $1 and it wouldn't make much of a difference to the final 500 value but the 'amount above asking' would be all over the place. Agreed, which is why the first thing I do when I'm going to make an offer is ask my realtor for comparables sales and then go from there. My realtor says he always encourages sellers to just be realistic and price accordingly. If you price lower than what you actually will accept and then start rejecting above-asking offers you're just wasting everyone's time. Then time passes, you've got 30 days on market in a hot market, and people think your house has mold or foundation issues or something because it's priced low and isn't moving. On the other hand if you price too high people will just outright filter you out and you'll end up having to relist several times to get a bite. This isn't terrible if you've got time and/or if your house is a weird/unique property that's hard to price.
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Nov 18, 2020 23:25
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HookShot posted:"There's no point in trying anything, you're hosed, just accept it and move on"
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Nov 19, 2020 01:29
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Real estate pricing, outside of P&S agreements, is just marketing.
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Nov 19, 2020 01:32
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My mortgage broker just called to remind me about renewal in a couple months. Since I bought five years ago value is up a tiny bit, and interest rates are down. Everything went better than expected I guess.
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Nov 19, 2020 01:40
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I’m coming up on the 4 year anniversary of this thread telling me to wait a few months before buying a house so I could save hundreds of thousands of dollars. Any month now, prices will drop precipitously...
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Nov 19, 2020 01:48
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Subjunctive posted:I’m coming up on the 4 year anniversary of this thread telling me to wait a few months before buying a house so I could save hundreds of thousands of dollars. Any month now, prices will drop precipitously... I'll take it off your hands for.... hmmm... 50%... no 65% of what you paid, if you want to get out now. I know this is extremely generous but you've always seemed like a good egg to me.
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Nov 19, 2020 03:13
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Well, an optimal investment strategy over the last four years would have involved buying loads of bitcoin, Tesla stock, Zoom Technologies (and selling it before the SEC halted trading) and then Zoom Video Communications, and I'm pretty sure nobody predicted much or any of that.
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Nov 19, 2020 06:51
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Fuzzy Mammal posted:It's also kind of meaningless. If a house is gonna sell for $500k I could 'ask' 499k, 450k, or even $1 and it wouldn't make much of a difference to the final 500 value but the 'amount above asking' would be all over the place. No poo poo it's meaningless but it also leads to places getting 18+ offers on the table at one time. It's bullshit and a massive waste of a huge amount of time.
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Nov 19, 2020 07:01
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Subjunctive posted:I’m coming up on the 4 year anniversary of this thread telling me to wait a few months before buying a house so I could save hundreds of thousands of dollars. Any month now, prices will drop precipitously... I bought 2 years ago and would have bought earlier but cancer kept us from moving. So glad I never listened to this thread. Yeah, housing is going to crash... when the rest of our dumb economy crashes. And we'll all be hosed then anyway. Look at the stock market doing great during an economy-crushing pandemic. Can anyone tell me that any of this makes any sense? That it's linked to reality in any way? It's all based on the delusions of boomers because boomers have all the money. So invest in whatever boomers are into and you'll do well. Until they die in another 20-30 years anyway. They think real estate is safe, so it is. They think the economy can somehow be fine during a pandemic, so it is. The stock market is just wishful thinking made manifest.
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Nov 19, 2020 07:23
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Shot: https://financialpost.com/real-estate/canada-housing-squeeze-buyers-moving-up-handcuffed-by-hard-to-sell-condos-2 quote:Canada's housing squeeze: Buyers who want to move up are being 'handcuffed' by their hard-to-sell condos Chaser, from a reddit discussion about this:   Someone post the Toronto personal finance chad/virgin picture again here please.
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Nov 19, 2020 14:37
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Slotducks posted:So I'm trying to buy a house in the hamilton/brantford area... I feel your pain. I bought a home last year. I was really frustrated by the whole process. I lost several offers by being outbid $20k+ when I already placed a bid well over asking. 8 offers on a home was normal. many were sold within 24 hours. People went to see them immediately when they went up on the realtor's site but before they even had an open house or made it online on realtor.ca or zolo.ca The list prices are all bullshit, just focus on what you want and bid what you think is a fair offer. Bid below asking on properties which aren't moving. Go see something which is listed for $600 and bid $550K if that's your max. If it's been sitting on the market it's not necessarily a defect with the house, it can just be because they priced it too high and people didn't rush to go and see it. If you can save yourself the monthly cost of a car by spending more to live in burlington vs hamilton/brantford then I think that's worth it.
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Nov 19, 2020 14:39
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Philman posted:If you can save yourself the monthly cost of a car by spending more to live in burlington vs hamilton/brantford then I think that's worth it. Reiterating that commuting from Hamilton to my workplace on western edge of Oakville broke my brain and I don't recommend it. There are not a lot of alternates when traffic is heavy.
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Nov 19, 2020 14:45
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One of my neighbours has had their place listed for about two months now and they're around 25-50k too high. They're very patiently waiting to get their price rather than going for a lower list and bidding war, which is how other good comparables have sold at/above their price. This is actually pretty annoying vs a quick auction because they're close enough to market that it's still getting a LOT of traffic and viewings on an otherwise very quiet dead end and I'm a bit concerned someone might smoke our kids on the way out as a healthy portion of the "drive by" traffic take it pretty fast after they've turned around.
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Nov 19, 2020 15:06
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Philman posted:I feel your pain. I bought a home last year. I was really frustrated by the whole process. I appreciate the insight - I was prepared by a lot of friends telling it me it was a horrible soul draining process and it's actually worse than I pictured it in my head. I can't stand this. Price ranges in Burlington are so egregious that we considered condos here - but the maintenance fees on them are astronomical, a bunch of them still have kitec, and public transit is so bad in Burlington that we would still need cars. I just can't believe (I totally get why) our government just does nothing about the state of real estate; it's this massive bubble that's bound to pop and they'll do nothing about it until it does; and when it does, they'll likely only bail out those who were extremely overleveraged and irresponsible.
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Nov 19, 2020 15:39
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Slotducks posted:when it does, they'll likely only bail out those who were extremely overleveraged and irresponsible. Well, and the banks who loaned to them.
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Nov 19, 2020 16:10
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Slotducks posted:Price ranges in Burlington are so egregious that we considered condos here - but the maintenance fees on them are astronomical, a bunch of them still have kitec, and public transit is so bad in Burlington that we would still need cars. at one point my realtor told me not to bid more than I think it's worth and I really stopped feeling bad about not getting a place because I wasn't willing to outbid some boomer who was trying to downsize into what I was trying to upsize into. Burlington specifically: Looking today the prices have gone up about 10% since last year but it could still be possible to get something in those ranges. I would just advise patience. definitely stay away from the kitec plumbing poo poo. the high $800 fees are a warning sign but the $500 fees are now the norm. also avoid electric baseboard heating. The transit is actually not as bad as it seems, If you're taking the bus to and from downtown or the Go station there isn't a lot of traffic to impede the bus in the mornings or the evenings. If you're taking it up and down one of the major arteries it's okay. It's not great. it still doesn't have dedicated lanes around the Go station.
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Nov 19, 2020 17:58
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Cold on a Cob posted:Shot: Lmao. He "lost" money because he didn't get the arbitrary number he wanted, despite him actually making a profit of almost 100% on the original purchase price. gently caress that guy.
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Nov 19, 2020 19:14
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I'm glad I didn't buy back when CI was insulting anyone who even thought about it. Would have been stuck with a hard to sell condo rather than a house.
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Nov 21, 2020 05:04
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Yeah I'm glad I resisted buying a condo back when everyone in Calgary was saying it was a great idea. I know at least 4 couples stuck with a condo they can't sell without taking a 70k+ loss, and the fees keep going up. But the house bubble refuses to die, no matter how bad the overall economic situation looks
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Nov 21, 2020 05:28
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yeah, specially in BC with all the drama about stratas and insurance. Real nightmare,
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Nov 21, 2020 05:54
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Things must not be going pretty well for Brad and his clients. https://twitter.com/EmmaMayMMA/status/1329669464246214656
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Nov 21, 2020 19:13
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crispyseaweed posted:Things must not be going pretty well for Brad and his clients. World Doctor's Alliance...that sounds reliable.
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Nov 21, 2020 20:48
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Doesn't that go against Canadian Anti-Spam Laws as it's not really in line with the business reasons for contact?
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Nov 23, 2020 15:39
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I along with 36 other people lost out on their bids on a house in Hamilton. THIRTY SEVEN OFFERS. Whaaaat the gently caress
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Nov 24, 2020 19:42
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Slotducks posted:I along with 36 other people lost out on their bids on a house in Hamilton. People are going nuts for houses and Hamilton is the one cheap place left in the GTHA so.... yeah. I sold a house there in 2016, before all the madness really ramped up, and we got four offers the day we listed. We missed out on a middlin' tier townhouse in Mississauga recently, were up against 7 offers iirc. It sold for 25k over ask, which came to 65k over a comparable that had sold five weeks prior. People losing their minds for a small yard.
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Nov 24, 2020 19:54
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