5570 McMaster Rd, near UBC V868818
1948 Rancher; 2,543 sqft; 80x165sqft lot
Listed 8 Feb 2011; Ask price $4,680,000
Price change 11 Apr 2011; Ask price $4,888,000
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- Incentives Can Also Be Received By Servicers And Investors If They Forgive The Debt That You Owe On A 2 Nd Mortgage! | xifopojozipa on Author Of ‘Real Estate Investing for Canadians for Dummies’ “jumped into the market 3 years ago with a 2 BR apartment in Mount Pleasant”; Reports Ownership Cheaper Than Renting; Leaves Out Math
- http://www.ndgraphics.com/ on Gord Goble in Local Newspapers – Vancouver RE ‘House Of Cards’ Will “Implode”
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- Advice Regarding Renting In Vancouver, Please – “Unfortunately, the Vancouver rental stock is absolutely atrocious. It just seems like every landlord is looking for someone to pay 100% of their mortgage on a crappy place through rental income.”
- “I just visited Manhattan for a week, and happened to snap some real estate ads on both the Upper West and Upper East sides of the island. Compare to Vancouver. It simply doesn’t compute.”
- Ben Rabidoux In Vancouver Next Week
- “The mortgage company told me they were calling in my 40-year, 0-down mortgage. I have paid nearly sixty thousand dollars towards it, but, nearly five years in, I have yet to touch the principal.”
- ‘Vancouver City Hall: Housing Report Card 2012′; Plus Revised Version
- “My folks find themselves at 65 still owing half the value of their home and recreation property to the bank. After almost 30 years of ownership in the BPOE and a number of boom markets, they have very little to show for it.”
- “Rent for $2,200 a month or buy and have a mortgage of $4,310 per month. Why would anyone buy?”
- “They were talking about two couples they knew who had recently bought a lot and planned to each build a house on it and live as neighbours.”
- Greater Vancouver Home Builders’ Association Annual First-Time Buyer Seminar Attendance Plummets
- Mom and Pop Get It Wrong In All Markets, Time And Again
- The average British Columbian homeowner is not going to pay off their mortgage by the time they retire.
- “He’s sold all his properties except his current one, which is now for sale. He explained that the market’s currently in crash mode, worst that he’s ever seen.”
- “One of my old high school buddies finally got her mother to sell the family home in Kitsilano – sold for over $1M, monies realized after debt paid off $185K.”
- “I know someone who just declared bankruptcy because her condo was assessed at $150k and she bought it presale north of $250k in 2005 or 2006.”
- Sturdy, With Views – “Calling Froogle Scott!… Is Dr. Scott ‘In The House’?” [Not In This One, Certainly]
- “She said the market was dead in Victoria and that it would remain so for a very long time. I asked how she knew. Her answer was fascinating and should scare the pants off the real estate crowd.”
- Kits Notes – “I’m pretty sure that this is the first 3+ bedroom property of any type that I’ve seen in the 5 years I’ve lived here that is priced below $700K.”
- “A beautiful Belfast home, in the equivalent of 1st Shaughnessy, bought at their RE peak in 2007 for £3.5 million, has now sold for £800K, almost 80%-off. The market didn’t suffer any significant economic shocks. Rates & unemployment didn’t skyrocket. They didn’t build more land. Sentiment just changed and the prices fell and fell.”
- “Two family members of hers are trapped, underwater, in condos on the East Side.”
- “Interprovincial migration is not saying good things about BC’s economy.”
- Vancouver RE: Not As Expensive Provided You Don’t Think – “It’s clear that our perception of affordability has been coloured by living on a continent where housing is unusually inexpensive.”
- More Undisclosed RE Industry Insiders Publicized As Clients – “In 1995, Allan and Karin Hoegg were mortgage-free. But no more. Today their Vancouver home is a valuable source of income as they plan for full retirement.”
- Rumor that some OV units will be reduced by 20%.
- Downside Weights On The Vancouver RE Market – “One of the older guys (over 60) mention to the guy beside him that he and his wife were thinking about selling their family home, and renting, in order to get some of the money that was locked up in the house.”
- “My buddy was looking to upgrade to a house in the Coquitlam area. With 200k extra for a home, that’s half of lifetime saving between him and his wife.”
- “I was walking in the Fraser neighborhood yesterday, I noticed that the population, on average, seem to be composed of workers. I belong to the top 5 percent in terms of income. Nevertheless, I cannot afford any of the houses for sale in that neighbourhood.”
- “Vancouver is an urban resort whose value mostly resides in its real estate and not much else.”
- “Rogers Communications is expanding into RE; aiming to relaunch website; providing critical data that can help potential buyers assess the value of a property from the comfort of their home computer.”
- I’m only 50 and I can just about retire if I want to, all because of a single simple decision – “When prices rebounded to their former highs, then rocketed another 30% higher to what I considered to be totally unsustainable levels, I decided that only a fool would pass up a second opportunity to harvest such a massive non-taxable capital gain, and in 2011 I sold my place.”
- The Vacant Lot of Versailles, Richmond.
- “I don’t think that most people think things are going to crash, just that there is going to be a slight correction, but it was amazing to me how sentiment has changed, and the fact Vancouver RE is too high was just understood.”
- “The ‘investor’ who purchased our house put it up for sale two months later, in January 1981, but the bubble had burst.”
- For A City To Have That Kind Of Vacancy, It’s Like Cancer – “Downtown, the vacant unit rate is so high that it’s as though there were 35 towers at 20 storeys apiece – all empty.”
- “What’s the worst that can happen? You can’t pay your mortgage, so sell your house! No fear.”
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I’m gonna bet this goes for no less than $4,888,888.88.
Put that same house in Calgary, it would be maybe 1 million in a nice neighborhood. Put that house in Bellevue, WA, it would be 800K. Put that house in Santa Monica, CA , probably 2 million……….Why is it so expensive here?? What is the big deal with Vancouver?
I can’t speak to all of those places, but I doubt that ugly 1948 ranch would even get $800,000 in Bellevue.
Nice run of 8s there, but at least in Cantonese, “4″ sounds like “death”. Not sure if “standard Chinese” (i.e. Mandarin) is the same. Maybe they should up the price to $5.888M just to be on the safe side. It’d make as much sense…
If I was Chinese, I would find it very insulting…
It is like saying, pay me 200k more because you are a gullible superstitious jerk.
Yeah but if you are a gullible superstitious jerk you will appreciate the good luck you get from the sales price.
joe:
dan may pop up and correct me
but in mandarin ’4′ is pronounced Si with a sharp downward tone (4th tone?)
so if you wanted to say, beat someone to death, you would say DA SI (hit death)
it’s that easy
want to make a phone call? DA DIAN HUA (hit electric talking machine)? where are you dan, to tell me that i’m stupid for trying to learn. lol
RET has a topic about property sale details for Van. VREAA should archive those details, just the incase the market drop 50% next month, you can call yourself a genius.
V868818
look at that postal code! holy crap
this is the luckiest postal code you could get
That’s the MLS number. But, fortunately, the postal code does have one 8 in it, and the lot is 80 ft wide. Someone should contact the agent and suggest these as sales points.
Have a look at MLS# V875751.
It was originally listed at 1.198 million in mid March. The revised price after a month is 1.88 million dollars.
so how many people selling now are honestly just aiming at the chinese buyer?
I have noticed that quite a few local/white sellers are crossing over and using Chinese realtors such as Manyee Lui and Danny Deng instead of the old white-people standbys like Tom Gradecak etc.
I think they want direct access to all that money from the Middle Kingdom.
lol you mean that money that was siphoned out of the US