“I live in a 3 year old condo, they are basically selling for the same price they did last year. I am thinking of dumping it, I am ahead and the home warranty is running out.”

Jonny at greaterfool.ca 7 Jun 2011 9:18pm“Are housing prices in Vancouver really up as high as they say YOY, 21% in BMO article, 10% in another, or is the number skewed because of the very high end market? I live in a condo, the price is up but not 21%, they are basically selling for the same price they did last year for a 3 year old building. I am thinking of dumping it, I am ahead and home warranty is running out.”

6 responses to ““I live in a 3 year old condo, they are basically selling for the same price they did last year. I am thinking of dumping it, I am ahead and the home warranty is running out.”

  1. After fees, time and effort, I wonder how “ahead” this person really is. In general, I wouldn’t buy real estate to hold for only three years.

  2. A friend of mine who is a realtor on the North Shore told me yesterday that not all prices are soaring and she is struggling to unload a townhouse built in 2008. The owner paid $650K new and wants to sell it for $679K. There have been no offers and they refuse to drop their price.

  3. I rented for 3 years near Rogers arena in a couple year old building – when we moved in, similar units to what I was renting (2bedroom, 2 bath, 850-ish sq ft) were asking $525,000. That was in the spring of 2007. Here we are in 2011, 4 years later, and those types of units are still asking the same – and there’s lots of them listed. So I’m really not convinced about this whole rising prices thing.

  4. Detached Deanna, detached. If you sunk your money into anything else you pissed it away. There’s a shortage of land here, not condos – the inventory for this property class is seemingly infinite.

  5. Pingback: Market Narrowing; Market Darlings | Vancouver Real Estate Anecdote Archive

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