“A close friend who graduated last year as a gastro specialist from UBC, got his job offer in Eugene, Oregon. I visited for a house warming party. 8,000sqft lot, 3,400sqft house, $328K. I am considering leaving as of now, it’s too much to pay for the views, rain, and short summers.”

“A close friend who graduated last year as a gastro specialist from UBC, finally got his job offer and green card in Eugene, Oregon. I visited this September for a house warming party: 8.000 sq.ft lot, 3.400 sq. ft house built in 2008, helper suite on the main level, self contained with rear entrance (rented at $ 1.220 / month, including utilities, cable, internet), double garage, radiant heat, hrv, central air condition and vacuum. Constructed with red brick, energy star type windows, two fireplaces, gas stove, good quality laminate flooring, etc, etc. He bought it for 328.000, after bargaining for 3 months, initial asking was 375.000. The funny thing is that we are in the same field and his income is almost double of mine, of course there are things like medicare, but the cost of living is much, much lower than Vancouver, gas, groceries, utilities, etc., are all lower. Oregon is a state which is tax free, this also helps. I am considering leaving as of now, its too much to pay for the views, rain, and short summers.”
- Viorelli at VREAA 12 Oct 2011 10:45pm

14 Responses to “A close friend who graduated last year as a gastro specialist from UBC, got his job offer in Eugene, Oregon. I visited for a house warming party. 8,000sqft lot, 3,400sqft house, $328K. I am considering leaving as of now, it’s too much to pay for the views, rain, and short summers.”

  1. This guy did very well. That’s a great price for a 3,400 s.f. house, built in 2008, even in Oregon. Plus he has a renter which is a much rarer arrangement down here than in Vancouver.

    Even I’m envious of this guy’s living situation from my perch in Portland.

  2. Hey, I just noticed something interesting about one of Rusty’s comments in an earlier thread…

    Diablo (who our noble bloghost has already outed as a sock-puppeter who also goes by Rusty) claims that MOI in Vancouver detached is 2.7 in a thread here:

    http://vreaa.wordpress.com/2011/10/12/was-that-it-the-top-possibly-they-are-not-as-excited-theyre-taking-a-wait-and-see-approach-theyll-put-an-offer-in-and-the-offer-may-not-be-close-to-the-asking-price-and-then-the-ow/#comment-17674

    That 2.7 number is totally random and doesn’t correlate to any of the published statistics… and it also reminded me of another randomly-spouted number I recently saw:

    http://www.realestatetalks.com/viewtopic.php?p=231522#p231522

    Pretty coincidental to pull the exact same random number out of one’s ass, no?

    Truly, eyesthebye/Rusty is one weird sonofabitch.

    • Good catch! What is the actual number?

      • The real numbers were crunched in the RET thread I linked to. No combination comes up with 2.7, at least no factual combination.

      • MOI for VanE+VanW detached is probably in the 5-7 range. That is consistent with price stability. Based on previous trends, if prices are to fall significantly, listings need to go up and sales need to go down; MOI of over 8 will typically precipitate price drops year-over-year, and if you think that prices are 40% overvalued it shows how pronounced MOI needs to become to elicit those sorts of movements.

        “I’ve never seen a soft landing in 53 years,” – Angelo Mozilo, ex-CEO of now-defunct Countrywide Financial

    • …” one weird sonofabitch.”

      Nope. Just the best ‘they’ can afford. Which in itself, ‘speaks volumes’. ChortleChortle.

      • Eyesthebye/rusty/rollie/diablo is not hired help. He’s just a guy who bought a crappy old house in South Van and has now made THOUSANDS of posts on RET to tell the world how brave and smart he is and how much money he has made and will continue to make through his purchase.

        Ironically, his posts demonstrate that he is fearful and dumb and that his ugly old house is the only asset he owns. This makes sense since it took the poor guy 15 years (!) to amass his ~$60K down payment (and nearly all of those 15 years were not in a 2%-interest-on-savings environment).

        I especially like his theory that Vancouver real estate will appreciate by a minimum of 5-7% per year, on average. Someone should tell all the pension fund managers… they can stop wasting their time.

      • Other classics:
        - The median dwelling should match the median income
        - Only sales in Vancouver matter
        - Immigration will keep prices high
        - 19% of dwellings in Vancouver are detached

        Gold.

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