Tuesday, March 13, 2012

Tues Post #1: Foreclosure Tours on Vancouver Island


As the housing situation worsens on Vancouver Island, foreclosure tours are becoming common place as this piece on CHEK news observes.

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8 comments:

  1. AnonymousMarch 13, 2012 at 2:02 AM

    All there to flip. Warms my heart.

    ReplyDelete
  2. AnonymousMarch 13, 2012 at 7:36 AM

    It seems to be business as usual in YVR. Lots of HAM reported at opens in WestVan. Guy selling 1&den condo in Metrotown had 30+ people through last weekend. I follow North Coq. and some houses selling over asking quite quickly. Crazy!

    ReplyDelete
    Replies
    1. MakayaMarch 13, 2012 at 8:52 AM

      That's not reflecting by the statistics, where sales are down 20% from last year and listings up 30%.

      Delete
  3. AnonymousMarch 13, 2012 at 11:39 AM

    Update: they guy selling the Metrotown condo (co-worker) sold it on the weekend over asking to - you guessed it - someone from HK with no subjects.

    ReplyDelete
  4. AnonymousMarch 13, 2012 at 11:46 AM

    Re. Coquitlam: there is alot of overpriced inventory on the mkt not selling, but the good, well priced properties are still selling. Ex. V935303 asked $730K (assessed $726K) sold for $748K within a week.

    ReplyDelete
  5. AnonymousMarch 13, 2012 at 11:59 AM

    Here is another one: Coquitlam V932291 listed $719K (assessed $784K) sold in 4 days for $762K. I went through this one and it was not great (but was on a huge lot) and it did have a separate kitchen downstairs (but no bedroom) The other one I mentioned previously had a 2 bedroom suite down. These two were in North Coq. Chineside area.

    ReplyDelete
    Replies
    1. WhispererMarch 13, 2012 at 1:10 PM

      I suspect we are seeing the impact of the last low rate bank interest Rae offerings.

      Delete
  6. AnonymousMarch 13, 2012 at 4:44 PM

    Probably. Check out the VanSun page A8 today. Full page ad (big $) by RBC pushing their 2.99% 4 year mortgage. They will even pay the transfer fees from another bank. It does seem to be goosing the mkt a bit though.

    ReplyDelete

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