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    Quote Originally Posted by Power_Of_Rotary View Post
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    Lol it aint wrong. When everyone (especially on beyond) is hating and dreading their condos, its a shocker that it is difficult to sell when asking price does not reflect the reality. Shocker.

    The same is principal is applied when market is crazy hot. Sellers will only bother entertaining highest overbid buyers. Even bids at ASKING price is considered lowball in Vancouver.
    This happened to me in March. Day 1 saw a house and liked it, made a offer for asking and their possession date. Sellers rejected it saying they wanted to entertain other offers and to resubmit it the next day. Ended with withdrawing my offer before they decided as they kept bumping it one day at a time to accept other offers. 0 interest in playing that game but it worked out in the end, bought a different house for nearly 100k less and much happier.

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    Well my place went live last night and first viewing was scheduled 12 hours later.

    Update: first viewing resulted in a offer at full ask with some standard conditions. Feels good man.
    Last edited by Twin_Cam_Turbo; 04-23-2021 at 02:48 PM.

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    Quote Originally Posted by Manhattan View Post
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    Crazy market for entry level homes blah blah blah. I'm more interested in what's driving the demand AND supply. Who are the people throwing caution to the wind and getting into bidding wars over outdated cooking cutter entry level homes? Is it purely interest rates driving their buying decisions? With the increase sales activity where are the sellers going? Are they downsizing/upgrading, selling income properties, moving out of town, or just trying to time a hot market? More questions than answers.
    We are/were looking for a new property to build on when we return to YYC after almost 5 years abroad. Almost all the properties we were given a heads up on, 95% were off market, and rentals. Seemed like sellers are just hopping on the bandwagon to try to 'cash in'. 1 place was listed at $800K, while we were reviewing the details and what kind of new build we'd put on it, they raised the price to $840K within a week. Not sure if it sold, it was never listed, the owners were just going out to builders.
    Hanging out in H-Town.

    Miss the Autobahn

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    Quote Originally Posted by pheoxs View Post
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    This happened to me in March. Day 1 saw a house and liked it, made a offer for asking and their possession date. Sellers rejected it saying they wanted to entertain other offers and to resubmit it the next day. Ended with withdrawing my offer before they decided as they kept bumping it one day at a time to accept other offers. 0 interest in playing that game but it worked out in the end, bought a different house for nearly 100k less and much happier.
    ....

    - - - Updated - - -

    Quote Originally Posted by Power_Of_Rotary View Post
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    Even bids at ASKING price is considered lowball in Vancouver.
    The Lower Mainland is a different world. My old man put up one of his rentals on the market (in Delta), sold in less than a day, $150K over asking, cash offer. Actually all offers were cash.
    Last edited by rc51; 04-24-2021 at 10:53 PM. Reason: Wrong reply

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    Quote Originally Posted by Twin_Cam_Turbo View Post
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    Well my place went live last night and first viewing was scheduled 12 hours later.

    Update: first viewing resulted in a offer at full ask with some standard conditions. Feels good man.
    Good work.

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    Quote Originally Posted by Twin_Cam_Turbo View Post
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    Well my place went live last night and first viewing was scheduled 12 hours later.

    Update: first viewing resulted in a offer at full ask with some standard conditions. Feels good man.
    So did you take it or fish for more?

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    Quote Originally Posted by jwslam View Post
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    So did you take it or fish for more?
    I took it, it’s $15k more than I’d hoped for.

    My only problem now is the condo board/management company is way behind on providing documents and it’s stressing me out.

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    Quote Originally Posted by Twin_Cam_Turbo View Post
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    Well my place went live last night and first viewing was scheduled 12 hours later.

    Update: first viewing resulted in a offer at full ask with some standard conditions. Feels good man.
    BOOM! all you asshats who disagreed with me on the "hot" market can suck it.

    Congrats on your sale.
    Originally posted by beyond_ban
    Yo Kanye, ima let you finish, but 50 Cent had the best concert cancellation of all time.

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    Quote Originally Posted by Twin_Cam_Turbo View Post
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    I took it, it’s $15k more than I’d hoped for.

    My only problem now is the condo board/management company is way behind on providing documents and it’s stressing me out.
    Man the condo company is a bunch of wieners. It took me 23 tries to get in contact with an actual human and then I got every run around possible. They were literally a year behind on posting board meeting minutes etc and acted like it was my fault.

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    Sucks they don’t use any kind of system like CondoPapers where you can just buy all the files needed

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    Quote Originally Posted by Twin_Cam_Turbo View Post
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    Man the condo company is a bunch of wieners. It took me 23 tries to get in contact with an actual human and then I got every run around possible. They were literally a year behind on posting board meeting minutes etc and acted like it was my fault.
    Wow its a condo too? Mind sharing type/location (or better yet, which complex)?
    Originally posted by beyond_ban
    Yo Kanye, ima let you finish, but 50 Cent had the best concert cancellation of all time.

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    Quote Originally Posted by Power_Of_Rotary View Post
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    Wow its a condo too? Mind sharing type/location (or better yet, which complex)?
    It’s a townhouse in Coventry Hills.

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    Quote Originally Posted by Twin_Cam_Turbo View Post
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    It’s a townhouse in Coventry Hills.
    Thanks for the info.

    Aligns with my view. House sales are HOT, townhouses/condos sales/prices are going to pick up quickly due to the organic growth in house value.
    @Buster @disblige #suckitimrightandyourinvestmentviewsarebadhaha
    Originally posted by beyond_ban
    Yo Kanye, ima let you finish, but 50 Cent had the best concert cancellation of all time.

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    Quote Originally Posted by Power_Of_Rotary View Post
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    Thanks for the info.

    Aligns with my view. House sales are HOT, townhouses/condos sales/prices are going to pick up quickly due to the organic growth in house value.
    @Buster @disblige #suckitimrightandyourinvestmentviewsarebadhaha
    https://www.creb.com/Housing_Statist...using_Summary/

    Detach is hot.
    Townhouse is decent.
    Apartments still dead.

    Still lags behind other major jurisdictions. Even Halifax enjoyed 30% bump.
    Last edited by Xtrema; 04-28-2021 at 12:45 PM.

  15. #575
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    Quote Originally Posted by Xtrema View Post
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    https://www.creb.com/Housing_Statist...using_Summary/

    Detach is hot.
    Townhouse is decent.
    Apartments still dead.
    Exactly. Context is important.

    Also, I don't really know what PoR meant when he said I disagreed with him. He was talking about some random stuff about DOM and supply and demand and I think his point got lost somewhere but I didn't have the motivation to even try to unpack any of that, lol.
    Buy hey, I would LOVE for him to be right about the hot market and things picking up. I can unleash my 2 condos that are severely underwater.
    Last edited by Disoblige; 04-28-2021 at 12:43 PM.

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    Quote Originally Posted by Disoblige View Post
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    Exactly. Context is important.

    Also, I don't really know what PoR meant when he said I disagreed with him. He was talking about some random stuff about DOM and supply and demand and I think his point got lost somewhere but I didn't have the motivation to even try to unpack any of that, lol.
    Buy hey, I would LOVE for him to be right about the hot market and things picking up. I can unleash my 2 condos that are severely underwater.
    Actually the point of this thread is for house/lot/land investments. I dont know why Condos even came up. I just mentioned condos will see a positive/organic impact given house prices are moving significantly and quickly.

    I can still wager condos will have a 3-5% growth by end of Q3. And days on the market will see the biggest improvements.
    Originally posted by beyond_ban
    Yo Kanye, ima let you finish, but 50 Cent had the best concert cancellation of all time.

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    Take possession of my house next Thurs. Still waiting on the lawyer to sign stuff, sigh. I swear it was like this last time around too, a couple days before.

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    Quote Originally Posted by pheoxs View Post
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    Take possession of my house next Thurs. Still waiting on the lawyer to sign stuff, sigh. I swear it was like this last time around too, a couple days before.
    I’m still waiting for my condo company to give me financials that are 11 months overdue, and I’m on my second extension now...

  19. #579
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    Now that April is done it's crazy to see some of the real estate stats.

    2019 total detached sales - 9800
    2021 YTD - 5800

    We're at 60% of 2019's sales in just the first 4 months of the year so far.

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    It's just a bubble of pent up demand
    Last edited by Buster; 05-02-2021 at 11:19 AM.

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