Spot The Speculators #93 – “Over 20% of listed homes in Shaughnessy right now were purchased just one year ago.”

“Over 20% of listed homes in Shaughnessy right now were purchased just one year ago (this is not including new builds, so the figure is actually higher).”
– Observer, at vancouverpricedrops 19 Nov 2012 [hat-tip Whisperer]

19 responses to “Spot The Speculators #93 – “Over 20% of listed homes in Shaughnessy right now were purchased just one year ago.”

  1. It never ceases to amaze me why we don’t have access to information that is publicly available in the US. Why do the realtors have to hide the fact of who exactly is buying these expensive homes. We should be able to at least tell whether they are citizens or not, or PRs or not. If it’s largely investors from outside Canada/BC, then we know it’s not people over leveraging themselves. It’s quite disgusting that the realtors are doing this to us.

  2. If you make the realtors disclose this info then they can simply not collect the info. Really, what difference it makes to the buyer whether the seller is PR, local born citizen, immigrant come citizen, or just pure offshore?

    If you say this info is needed for public good then government should collected or buy the info or mandate it as part of law. However, while I certain support more availability of info, I really don’t see why it’s realtor’s moral duty to expose info. Frankly if I were a seller, I don’t want this info exposed either. It’s simply none of anyone’s business.

    • Agree, just as others have no business accessing an individuals financial or health information.

    • I actually agree that realtors should not be forced to disclose this info.

    • Aren’t land titles a matter of public record?

    • The particulars of who owns a property are integral to our entire legal system and especially the concept of due process – going back at least as far as the Magna Carta.

      “No freeman shall be taken, imprisoned, disseised, outlawed, banished, or in any way destroyed, nor will We proceed against or prosecute him, except by the lawful judgment of his peers and by the law of the land.”

      “To no one will We sell, to no one will We deny or delay, right or justice.”

  3. Naked Official #9000

    Loyal cadres, swarm!

    Overwhelm the disharmonious intent!

  4. Exactly who is buying is not of prime importance, I’d readily pass on that information, and think it can easily be argued that we don’t have the right to know personal info of prior buyers. Policy makers may want to research this info for various reasons, but that’s different from it being publicly accessible.
    What is important is the fact and price level of prior sales.
    If that is a matter of public record, why not make it easily and freely available to all, a la zillow?

    • I’d argue it’s of prime importance. How can residents/voters pressure politicians to act on factors distorting the market for such a basic need as housing, if we don’t have the complete info?

  5. once you have access to , you don’t really need the realtor. you can see the entire history of ANY property in BC, and I have been using it to research Vancouver realty for since last Nov. and yes, I would say 40% of downtown places I looked at has been trade hands couples for time since 2008 for flip, most of the condo/townhouse I looked at has never been lived in at all, just buy and flip every 6-9 months. There are going to be alot of Johny come lately going broke next year.

    • outrigger -> Thanks for the comment.
      How do you get ‘access’ to that data without being a realtor? (or a hacker!)

      • My friend is a realtor, and he gave me access. Normally thou I don’t associate with realtors, the home buying/selling process here is completely corrupted and rotten, like the financial system in Wall Street before the crash, the realty process just doesn’t allow for honesty and integrity in Canada. At least this friend of mind is only a part timer to supplement his primary business.

        I have another school friend of mind who is also a realtor, can’t believe the shitz he tried to pull on getting business with me, lies, more lies, and even threats. I hate these scums.

    • I clicked the link from my Firefox browser and the website gave me this message:
      “The MLS System was specifically designed for Internet Explorer versions 6.0 or greater. Your browser version is not supported. To download the latest version of Internet Explorer, visit the Internet Explorer Downloads Web site.”
      Looks like even their web developers are shit.

  6. Here’s a nice little flippity-flop, courtesy of Manyee Lui, bought a year ago for $7,888,000. Now on sale for a mere million more: $8,600,000. Same realtor ( also owner?) .

    • Oh Boy.
      Thanks, will post. For the record.

    • The same property was sold for $7,000,000 in early 2011! Also noticed 1215 West 27th was sold for $2,330,000 in Jan 2011 by the above realtor and now it is for sale for $2,750,000.

    • She has a reputation as a “winning negotiator” and is the leader of a “hardworking, compassionate, and ethical” Power Team of Associates who keep the long list of sales properties well covered.

      Cough cough. Hardworking, compassionate, and ethical. I love reading realtors bios, they just throw out words.

    • But there is no mortgage helper suite in the basement!

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