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. All there to flip. Warms my heart.

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  2. 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!

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

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  3. 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.

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  4. 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.

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  5. 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.

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

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  6. 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.

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