“My in-laws have now lost, based on average prices, just over $80K on their 2011 purchase. They claim, however, that they could get about $100K more for their place today than when they bought it. Strange.”

“My in-laws (who purchased a modest place in the Sunrise-Hastings area of East Vancouver just over a year ago, have now lost (based on average prices) just over $80K. They claim, however, that they could get about 100K more for their place today than when they bought it. Strange.”
oneangryslav2 at VCI 12 Jun 2012 4:19pm

52 responses to ““My in-laws have now lost, based on average prices, just over $80K on their 2011 purchase. They claim, however, that they could get about $100K more for their place today than when they bought it. Strange.”

  1. Is that including realtor fees?

  2. Nothing lost nothing gained unless they sell.

  3. The 12% average price decline is mostly due to Van west not moving. Their east side hone is likely the same price or a little bit higher.

    • And just because prices of SFH are down 12% on average it doesn’t mean every property is down 12%. That’s like saying that everyone you’ll meet today will be exactly average height, no more no less. Statistics 101.

      They might be right that they’re 100k ahead.

  4. Regarding the post earlier this week showing Richmond listings from my iPhone app. This app was removed from the AppStore last year. It was working fine until I sent the photos to vreaa. Now when I search that same Richmond area with the attached properties, it shows under 10 listings in that area. Which is bs, because there were over 200 listings. Its obvious that someone saw that post here and quickly made the changes. See what they don’t want people to know?? Richmond is screwed anyways, but why hide this? Its likely the doing of the CREA bacause they were the reason the app was removed for downloading in the first place.

    • I noticed a lot of listings disappearing today too. System glitch maybe?

      • bailinginbc

        Squamish seems to have lost about 45% of it’s listings from about 435ish to 235. The MLS says that there are only 5 town houses for sale in all of Squamish. Last time I looked there were 9 in the complex I’m in alone.

      • It’s a strategy to boost sales. 6 months of inventory yesterday, today is 3 moi.

      • Good to be out

        Even better, there are less than 90 condos for sale in the entire downtown Vancouver area. I think it was closer to one thousand last week.

      • bailinginbc

        Better buy now before they are all gone.

    • How can they possibly hide listings? The sellers would notice, for one. Also, wouldn’t you say it’s advantageous for buyers to be aware of the product when it comes to making sales?

      Give your head a shake. There’s no conspiracy here.

  5. i’m reading some disturbing news today, but to what extent it has on the mass disappearance of RE listings, i do not know. For starters, there is news that there may be a severe quake in Japan, within hours or days. Yellow water has been found in Osaka bay, which indicates a mass fish kill that is traced to escaped gas, an indicator of quakes to come. The second thing is that the market in North America acted very strange in the late afternoon session, on news of a coordinated G20 rescue package for Europe. This by itself is not so unusual, but the tone of the message is that they are coordinating for something entirely different. The third thing is the mobilization of Russia’s military, which would, of course, mobilize the military of other nations.

    I know a thing or two about astrology, and I can tell you that we’re about to experience a New Moon (Sun and Moon conjunct) at a very sensitive spot, on June 19, at 28°Gemini, which is opposite the Galactic Center at 27°Sagittarius. It’s not a mystery between astrologers that these two positions invite gravity waves to ring earth’s bell. The Banda Aceh quake and Tsunami is the best example in recent history.

    Further, there is now news that Trading will be suspended on Sunday (for the traders in North America who are betting on the action in East Asia Monday session).

    all these are just stories i’ve read the last hour or two… very fluid time now…

    • My neighbour says the world is angry

      • your neighbour might want to read a number of posts I made, about Pluto’s mass subconscious destructive energy in Capricorn with House 3 qualities, over at http://www.voy.com/64855/ My handle at this forum is ‘faloffal’

      • I’ll pass it on to him, he’s mostly worried about magnetic fields and polar ice cap melting, nonetheless planet(oid) alignment patterns is another one of his interests.

    • scummy scummy real estate. No transparency, no honesty, just misinformation and manipulation. I feel sorry for those who can’t see this, or don’t want to see this.

    • conjecture … it’s so ridiculous-looking now … maybe already too late and eu numbskulls just can’t make nor enact any decisions in time to matter … everyone else with xerox ready will have to save their own banks when it goes down

    • 1. The gravitational effects of the bodies you mention have close to zero gravitational influence on Earth compared to, say, the Sun.
      2. There’s currently no scientific means to predict earthquakes.
      3. What does any if this pseudo-science nonsense have to do with real estate?

      • Anonymouse, your mistaken on all counts. My problem here at this forum is that, generally, the rest of you need to catch up.

      • I am kind of enjoying your perspective, Paul. I had not heard anything about a trading ban either so the heads up was helpful. I will have to get out of my usual rut and look at some other sites tonight and see what’s going on. Mostly I ignore Greece because I do not honestly think it is going to have a serious impact on Europe or on us by it’s departure. But if you are worried by the alighments I have time to listen.

      • Anonymouse

        Paul, I’m not mistaken. If you were right then the ocean tides would be a result of some far away star rather than the moon, and Ja

      • Anonymouse

        and Japan might have known the biggest quake in centuries was imminent last March. You’re just delusional.

  6. East side prices have remained steady so they aren’t necessarily wrong. Its the people who own houses on the west side that have to worry the most…

    • I think this is true. I live in Hastings-Sunrise and pay a lot of attention to what things are listed and sell for…. and things are listing and selling for about what they were last year. People trying to get over a million for their places? They are out of luck – but there is a limited amount of stuff in that neighbourhood, and it’s selling for between $700,000 and $900,000, generally close to list prices. Even tear-downs on tiny lots are selling for $650,000. I’m not saying that’s going to continue, but at the moment things seem to be moving and for prices that are similar to last summer.

      • reality check

        Commercial Drive area is selling well and quite a few are still going above asking. the east side has been underpriced compared to the west side and now people are beginning to realize it’s a good buy. It’s closer to downtown and better transit.

      • 4SlicesofCheese

        Listings that are over 1 million in east side are not moving quickly.
        Commercial Dr? What happen to all the HAM? 🙂

  7. anonymous guy

    What’s going on with MLS? I was just on realtor.ca
    Almost all the 2 bedroom condos in Hastings Sunrise have disappeared
    Most of these listings have been sitting there for months, but one higher end condo is still showing up.
    This stinks of Realtor Misinformation, just like their new “index” that showed Vancouver prices up 3%.

    • I once lived in a building where half the units didn’t sell and so the developer took them off and offered them as rental suites for a number of years. Could be that after sitting for a long time (those ones right on hastings for example) they have decided to go this route?

  8. Wow, MLS has really removed a lot of listings. Those were NOT sold.
    A glitch or a “glitch”?

    OTOH, I can still see the “removed” properties on Realtylink.

    • Correction. I can see some of the “removed” properties on realtylink. Others were removed too. Interesting.

    • Wow, there were some condo developments with 17 listings alone in the 400 – 500K earlier this week. Now only about 10 for the entire downtown, false creek area. More than a computer glitch?

  9. This disappearing listing thing does sound pretty odd. Close Encounters of the Realtor Kind.

    Perhaps I’ll fashion a mashed potato likeness of Cam Good on my kitchen table.

    Then again, perhaps not. The mere sight of him makes my GF physically ill.

    She does like mashed potatoes though.

  10. Renters Revenge

    Disappearing listings…the plot thickens! Awesome, real life intrigue!

    • Perhaps, I don’t think there’s any conspiracy. Cost of advertising, market strategy. Brings potentials to an area and let signage an personal selling do the rest.

      What it does show, is that they are changing their marketing game as a product goes from introductory, growth and maturity. of product– branding, cost, location, features, perception. Somewhere the ad $ is spent, likewise I usually do a thumb count on craigslist Friday.

  11. White Rock definately doesn’t have dissapearing listings (I hope!). Getting ugly there!

  12. Look what I have found – an old vreaa favorite: http://www.realtor.ca/propertyDetails.aspx?propertyId=12023554&PidKey=376629569

    This house was featured on this blog in the past:

    4411 W 11th; 4,696 sqft SFH; 63×121 lot (7,623 sqft; 0.175 acres)
    (Old Timer; Backs onto alleyway behind 10th Avenue stores.)
    Listed 9 Oct 2010 $2,980,000;
    Price change 6 Dec 2010 $2,890,000
    Sold 15 Feb 2011 $2,830,000

    Later:

    The February buyer has turned into an August seller: the house if back on the market (V905972) with an ask price of $3,180,000

    However on 1st November 2011:

    The house is now offered for $2,998,000.00. That makes it a failed flip already

    Now it’s back on the market again and the asking price is $2,998,000.

    Yup. A failed flip.

    • 10591 Caithcart rd Richmond

      Sold May 11, $1.38 mil
      Listed August 11, $1.6 mil
      Reduced in Oct 11 $1.49 mil
      Still available @ 1.49 mil

      Many properties like this in Richmond. I’m too lazy to pull up more. But I know the family that originally sold this home. I always check to see if it sells.

    • Holy Shit! I rent a (nonshitty and relatively affordable) basement suite near there. I know that house.

      Let me put it this way- For the first time since I move to Vancouver four years ago, I’m seeing “For Sale” signs stay up more than a week in the Point Grey area and price reduced notifications added. Something is up. Every block has a house for sale and they’re not moving.

  13. Comments on greaterfool had people saying they had GTA RE sources told to remove all listings over 30 days from MLS to ‘limit supply’ Not sure if true

    • If true, that could cause lawsuits by sellers.

    • So GTA and GVREB? That is even more interesting. Is it all across the country too? This really miust be the last desperate acts of the industry……even though I thought the “index” topped it all.

      Is blatant lying far behind? They stoop so low.

  14. “Bank of Canada continues to warn that the high level of household debt and overvalued real estate in this country have left the economy vulnerable if a financial shock erupts in Europe.”
    http://www.thestar.com/business/article/1211307–canada-vulnerable-to-eurozone-crisis-bank-of-canada-s-mark-carney-warns

  15. MLS appears to be back to normal. Downtown core once again has over 1500 listings, too many to map. Things must have been down yesterday due to system maintenance perhaps.

  16. Lost 80k? how do you know? have they sold already? or you just picked the number out of your jealousy narrow mind.

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