“I laughed so hard when I saw the state it’s in that I almost crashed into the car in front of me. Later I just shook my head as I discovered it would take decades of my life just to buy a condemned rat hole, much less build a “decent” house on it.”

“I was driving with the wife today and spotted this “beauty”, 1950 (or 1954?) 1st Ave. It had a giant piece of plywood out front with “Danger, Do not enter” spray painted in neon red and it looks condemned (the google street view image is very accurate). According to MLS, it’s priced near $700,000 for “land value”. I laughed so hard when I saw the state it’s in that I almost crashed into the car in front of me. Later I just shook my head as I discovered it would take decades of my life just to buy a condemned rat hole, much less build a “decent” house on it.” 
– JS via e-mail to vreaa, 25 Mar 2012

16 responses to ““I laughed so hard when I saw the state it’s in that I almost crashed into the car in front of me. Later I just shook my head as I discovered it would take decades of my life just to buy a condemned rat hole, much less build a “decent” house on it.”

  1. LandlordRescue.ca

    I think that you are one of those negative thinkers, with a little rephrasing the above home is an opportunity of a lifetime to build your own custom home for only $700,000…

  2. Joe_Blown_Away_By_High_Housing_Costs

    Canada’s real estate market is “red hot” due to jobs in the natural resources sector.

    http://www.vancouversun.com/business/Resources+fuelling+economy+housing+demand+economist/6444360/story.html

    • And all the best jobs are in Vancouver. Right now I have offers from a gold mine on Fromme, gas fracking under SFU, the oil rig off Spanish Banks, and a logging company in Stamley Park.

      • But they probably meant drugs

      • 4SlicesofCheese

        Speaking of drugs, my friend mentioned to me that the husband of one of the Real Housewives of Van is one of Bindy Johals associates.

        “While her husband is not named in her biography, property records obtained by the Vancouver Province show “consultant” Reiko MacKenzie owns a mansion valued at $3.5 million along with a professional “day trader” known as Sun MacKenzie, who has also been known as Sun News MacKenzie and Sun News Lal.

        Sun News Lal was considered a suspect in the 1994 murders of Jim and Ron Dosanjh, victims of a turf war between rival factions of a drug gang.

        He was later acquitted in a trial along with colourful crime boss Bindy Johal, Peter Gill and three others.”

        http://www2.canada.com/story.html?id=6230851

    • When I read that this morning I couldn’t help thinking, if the hot RE market is due to “record levels of employment, lifetime lows in interest rates (and) more confidence that the Canadian economy can continue in a buoyant way over the next few years,” why do we have emergency interest rates again?

  3. Joe_Blown_Away_By_High_Housing_Costs

    Who would want to live on East 1st Ave?! Your doorstep is essentially on a major highway. I’d prefer Surrey any day.

  4. nice curtains. bonus!

  5. I’m surprised they managed to get a clean shot without traffic.

  6. I drive by that place every day– I didnt realize it was for sale.

    Man, if only I had been a little quicker, I could have owned one of the last pieces of awesome real estate in the city! All it needed was a little spit & polish, um, and some jacks to raise the slumping deck…

  7. Yup, that’s the one I mentioned here: http://vancouvercondo.info/2012/04/cant-save-a-dime.html#comment-151127
    I’m going to try to get a good photo of it sometime in the near future. It’s really spectacular. (There are “SOLD” stickers on the sign, FWIW.)

  8. Thank you everyone for giving me such good laughs on a morning when the sound of construction nearby yet again (another bungalow razed) is making me feel very cranky.

  9. My wife told me that the Chinese especially desire property bordering on very busy streets in dangerous neighborhoods. Keep buying suckers.

  10. The RE market will be crashing starting 2013 and it will pull all the houses like the one on 1st avenue under. No escape promise.

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