“The neighbour put her house up for sale when her husband died, borrowed from her line of credit, and bought an apartment. The house has now sat on the market for months, crickets, and she is freaking out. Now trying to sell the apartment.”

“The neighbour put her house up for sale when her husband died, she couldn’t stand being there alone.
Borrows from her line of credit and buys an apartment.
The house has sat for months, crickets, and she is freaking out, she is now trying to sell the apartment because her overhead is through the roof.
It’s these sort of s****y situations that are going to force the housing prices down, selling out of need not choice.”

TNT at VREAA 11 Oct 2012 8:42pm

16 responses to ““The neighbour put her house up for sale when her husband died, borrowed from her line of credit, and bought an apartment. The house has now sat on the market for months, crickets, and she is freaking out. Now trying to sell the apartment.”

  1. Renters Revenge

    “Amid the “tall is better than sprawl” chatter at the conference, which drew 850 attendees from 43 countries, supertower architect Adrian Smith burst a bubble when he offered preliminary research findings on density and residential development. “It looks like the four-story walk-up community is the most sustainable typology from a carbon-emissions standpoint,” said Smith. “This was a surprise.””
    http://greensource.construction.com/news/2012/10/121003-tall-building-experts-no-easy-path-to-truly-sustainable-supertowers.asp

  2. Shoulda’ bought a SaskatchewanFarm?*….

    [G&M] – SeedCapital: How Immigrants Are Reshaping Sasakatchewan’s Farmland

    …”The Zous are part of a new wave of immigrant investors who are changing the face of Saskatchewan’s countryside. These investors, who come mainly from China, South Korea and India, are buying up farmland, by the hectare, often in cash, and frequently becoming landlords to dozens of local farmers. Most are motivated by the province’s booming agriculture sector and a sense that Saskatchewan farmland, while soaring in price, is still remarkably cheap. Many are also convinced that the demise of the Canadian Wheat Board’s monopoly over the sale of wheat and barley will open opportunities to sell grain directly to buyers in Asia. For these investors, the plan is simple: Buy up acres of land, partner with a local farmer to grow the crops, and then ship the produce directly to customers in China. The lure is simple too: The possibility of profits from those sales to Asia, and the hope that land prices will continue to rise and drive up the value of their land assets.”….

    http://tinyurl.com/9msbn4k

    [NoteToEd: *Or a minority stake in NEXEN? I wager the CNOC/NEXEN ‘deal’ – delays notwithstanding – will be approved [with the announcement coming ‘after hours’ on the eve of the American election]. Just a hunch.]

    • *Or a MegaYacht!???. How nice for Paul Allen and Roman Abramovich, finding ‘DownTown’ parking’s such a b***h these days….

      “We’re thrilled to death with what we have and I don’t anticipate there’d be any reason for us to go back and try to change anything.” – WAM spokesperson Larry Halgren

      [CBC] – Victoria’s mega-yacht marina gets approval

      …”A controversial proposal for a large yacht harbour in Victoria has been approved by Transport Canada, but critics still say it will pose an unacceptable risk for the busy Inner Harbour. The Victoria International Marina will include amenities, including a restaurant and accommodation for yachts up to 45 metres long. In order to get final approval WAM Development had to reduce its original size by half and include a safe, inside paddling route for kayaks.”….

      http://tinyurl.com/8qk78yf

      [NoteToEd: Actually, at 45M, the berths will not accomodate Luna, Eclipse, Tatoosh, Octopus, et al… You could almost squeeze a RCN Kingston Class CDV into one of those, though. Abramovich’s “Luna” in YVR, this summer: http://tinyurl.com/9lq4qxv ]

      PS – a “WAM spokesman”??? Must be a new category of BC RE speculator. Or possibly a refugee from ’80’sBoyBand management? Either way, “Wake Me Up Before You Go-Go”

  3. I think in this case your neighbor made a risky decision in itself and it should also be the Realtors fault for letting her do that. Selling first and then buying after it sells is the best way your neighbor should have done it. Her Realtor should have known better but I guess like most Realtors they don’t give a s**t. Thank god my Realtor is [shameless plug edited out. -ed.]

    • But… but…
      For the last ten years in Vancouver, if a seller purchased a second property before selling their first, they have almost always been rewarded. One of many examples, here.
      Are you suggesting that some realtors are advising their clients that things have changed?

  4. “Thank God! My Realtor™ is a Kumo.”

    [NoteToEd: Things must be terribly… awfully… S L O W… out there. Score OneMore for the HandcraftedSpamSideBar: from his LinkedIn… Anthony Lim: Marketing, Web Development and Rating Analyst @ Family Insurance Solutions; Regency Developments; Georgia Pacific Realty (and more recently RoyalPacific) Education: Social Media Marketing at British Columbia Institute of Technology / BCIT. I could be wrong, ED – but I think Mr. Lim should ask BCIT to refund his tuition.]

    • Nem -> We can’t be sure that the commenter using the handle ‘Anthony Lim’ actually is someone called ‘Anthony Lim’, so we’ll reserve any judgment.
      One thing is for sure, and that is that this commenter is trying to plug one particular realtor.

      • Funny you should say that, ED… it reminded me of something falling loosely into the… Quote O’ The WeekEnd! category!….

        “The job of the party school is not to blindly sing the national anthem. That’s the job of the propaganda department.” – Prof. Anon, Central Party School

        [WaPo] – China’s mid-level party officials spend professional training time cultivating allies

        …”The students — largely middle-age government officials looking for promotion — no longer see their mandatory time at the school as a chance to immerse themselves in the wisdom of communism. Instead, it’s become a prime place to cultivate allies with whom they can trade future favors and backdoor deals to further their careers and wealth. That means calculated friendships, luxury dinners expensed to local governments and boozy nights on the town.

        The obsession with networking has alarmed leaders in China, who see it as symptomatic of larger problems threatening the party’s iron grip over the country — disillusionment with its communist ideals, irrelevance in the modern era and pervasive corruption.

        Ethical corrosion has led to families of top leaders reaping vast fortunes, officials flaunting luxury watches worth several times their monthly salaries, and scandals such as a railway minister accused of using ill-gotten wealth to keep his 18 mistresses happy.”…

        http://tinyurl.com/9322ykg

        [NoteToEd: 18!!! No wonder they call it the, “Party School”! Collectively shamed by their comparatively poor showing in the ‘stamina’ department, Canadian MidLevelOfficials have vowed to surpass their Chinese counterparts by next Spring!]…

    • Hahahaga social media marketing

      Hey I got a degree, too

      It’s called sitting on ass

  5. Simple solution to remove the crickets, -15-20%.

  6. Sporty situation indeed.

  7. Back to the discussed topic. That woman wasn’t forced to borrow from her line of credit and buy an apartment, regardless of her getting a bad advice from her Realtor, she has the final say and it is all her fault.
    And there is a simple remedy for the “house not selling” – nothing to freak out about, lower the price and it will (most probably) go. She has a choice – either to remain greedy or to be broke.

  8. continuing the nemesis_F_thread (ha-ha-ha!) with a look to life at the top … cogito ERGO futuo (pffft!) …

    What has your employer done to make you feel good lately? Probably not as much as German insurance giant Ergo. The large-scale insurance provider recently spent company funds to send a group of its workers to a swingers’ hotel in Jamaica. The trip was not exactly hidden after officials published those expenses via an internal audit on a public website.
    http://tinyurl.com/8e5483b

    Orgy on the Danube Report Reveals Details of Insurer’s Sex Party
    http://tinyurl.com/bq5knwk

    source dox: http://tinyurl.com/9exjqp8

    don’t worry cdn RE content gestapo friendos! guarantee 100% appropriate local analogs will surface as tide goes out

    v, my relevance tithe …
    sure the players loading up on debt are making questionable choices but the evermore tilting play field is filthy messed up too – and that mostly isn’t they’re fault. 10 yrs ago, 70% of my ‘working brain’ was devoted to engr+marketing. now, 70% is divining what panicking horde does next. 15% tax on asset shuffles vs payroll tax, staying ahead of the legallized counterfeiting, to what extent who benefits from plugging into the crony dopage, etc.^3

    to borrow from the parable of lance … some are saying they were all doping so he was still best. but universal doping doesn’t level the field, it distorts it. it benefits who dopes best, physiologically responds best to drug, has access to the best product and doctors, who is willing to take the greatest health risks, etc. it surely won’t be the best athlete. that contest cannot emerge until the doping environment is largely removed.

    1.7% yield on 10yr UST (really does anyone think this can be normal and healthy?) is at the root of all the hyper-doped economic warpage. unless they plan on changing that, the rest of us will need to adapt best we can.

  9. Always a good idea to buy a 2nd home on credit before selling your current home.
    So many sheeple think the hardest part is buying a home, because for them, making a decision is not something they know how to do. Also, buying is much more fun than selling so a society addicted to pleasure will always make this mistake.

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