tag:blogger.com,1999:blog-7123542260692860177.post1884563190144035112..comments2023-12-02T00:38:46.467-08:00Comments on House Hunt Victoria: A balance of probabilitiesHouseHuntVictoriahttp://www.blogger.com/profile/07456914359088891317noreply@blogger.comBlogger69125tag:blogger.com,1999:blog-7123542260692860177.post-87763209152294151232013-01-21T08:27:13.681-08:002013-01-21T08:27:13.681-08:00Landlords 'powerless' as tenants get free ...<i>Landlords 'powerless' as tenants get free ride</i><br /><br />If you are renting out an entire house some heavy duty due diligence is definitely necessary.Markohttps://www.blogger.com/profile/08315282480144281935noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-60339557443129963002013-01-21T08:12:26.762-08:002013-01-21T08:12:26.762-08:00Monday, January 21, 2013 8:00am
MTD January
2012...Monday, January 21, 2013 8:00am<br /><br />MTD January <br />2012 2012 <br />Net Unconditional Sales: 177 372 <br />New Listings: 701 1,088 <br />Active Listings: 3,759 3,715 <br /><br />Please Note<br />•Left Column: stats so far this month<br />•Right Column: stats for the entire month from last year<br />Markohttps://www.blogger.com/profile/08315282480144281935noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-32833590600241907792013-01-21T07:53:12.056-08:002013-01-21T07:53:12.056-08:00Landlords 'powerless' as tenants get free ...Landlords 'powerless' as tenants get free ride<br /><br />http://www.cbc.ca/news/canada/british-columbia/story/2013/01/18/bc-badtenant.html?cmp=rssIggy_12https://www.blogger.com/profile/00958641197248552032noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-80554065821234438562013-01-20T23:29:40.885-08:002013-01-20T23:29:40.885-08:00As far as the local market goes, not much is liste...As far as the local market goes, not much is listed in OB right now and places are not selling quickly unless they are great. <br /><br />There are a couple of OB border properties that have been on the market for a long time and are reasonably priced, but in poor condition. A year ago they probably would have sold within two months.<br /><br />I'm not sure about Cornwall as I haven't toured it, but the location above Fairfield is not, imo, as good as closer to the village. That said, that area is still pretty popular.Anonymoushttps://www.blogger.com/profile/08188115284116016130noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-22230015557599304222013-01-20T22:41:44.871-08:002013-01-20T22:41:44.871-08:00RE cornwall: I think they possibly over paid. The ...RE cornwall: I think they possibly over paid. The Renos look ok, not high end or anything. The yard looks crapy since the house is set far back in the lot and the backyard neighbour is right to the edge of your lot line peering down at you. No lounging smoking pot in your house coat back there. Also with a 40X90 lot there is no easy demo and rebuild since the setbacks are too big to allow for a larger home. Thus it's variance time and asking your neighbours if you can build what you want...But, it's not the nicest location or street in Fairfield so also not enticing to do that. (there are pluses to the house but who's interested in that)<br />I put the lot value at 280k, house value at 220k for a top value of $500k. <br />They made a mistake and probably got in a bidding war. Possibly a bought from a flipper that bought for an actual price.... dasmohttps://www.blogger.com/profile/14638226799679794103noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-88880435243852329342013-01-20T22:34:43.004-08:002013-01-20T22:34:43.004-08:00OMG - are we back to Herengracht again! I refuse ...OMG - are we back to Herengracht again! I refuse to engage in that debate. I'm just not that theoretical nor do I believe in a 300 year cycle. <br /><br />I'm more like a real person who lives in Victoria today, has an old lady shopping cart and a single level home already (my version of doomsday prepping), and hopes to make my statistical average lifespan because things are already pretty good and I'm okay to stay to the end of the party. <br /><br />I know that in my lifetime I have had and will have a total of approximately twenty years to invest aggressively, of which 3/4 is over. This leaves me with maybe five years to buy real estate and/or other stuff that makes money and then - yep, I'm off fishing or writing my novel and maybe making some slightly crankier posts here once in a while.<br /><br />So, my concern is the current window of time. I follow trends closely - especially local trends. I look at what my cohort is doing. I see what sells and what doesn't. I'm aware that, for example, our high rate of divorce makes furnished rentals pretty popular. I know what works in the Okanagan vs. here - different markets call for different strategies. I don't care about canal stats, I really don't.<br /><br />I run these numbers and look at lifestyle enhancements or level of fun I will have out of a property. I make contingency plans. And then I make the best decision I can if the numbers are favourable for pay-off in my life-time.<br /><br />Yes, CS, I am talking about the weather. I predict our peak temperatures will be up above where they were at peak in ten years. I recommend against low bank waterfront.<br /><br /><br /><br /> <br /><br />Anonymoushttps://www.blogger.com/profile/08188115284116016130noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-13415345853087030292013-01-20T21:44:09.127-08:002013-01-20T21:44:09.127-08:00It is also my view that local conditions will retu...<i>It is also my view that local conditions will return or surpass peak within ten years.</i><br /><br />"Local conditions? Is this a long-range weather forecast?!<br /><br />Or are you talking property prices? <br /><br />If so, are you talking nominal price or in constant dollars? <br /><br />And are you talking SFH prices or condo prices or averaged over every category?CShttps://www.blogger.com/profile/03399620869685840906noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-63699198888184411952013-01-20T21:30:50.726-08:002013-01-20T21:30:50.726-08:00In real dollars, a person (now ghost) who bought a...In real dollars, a person (now ghost) who bought at the 1736 peak in Amsterdam, is still below what they really paid 277 years ago. <br /><br />Yet the person who bought in 1709, is presently up 2.5 times in real terms. <br /><br />Wealth is much to do with timing, and being wealthy is having time. Now if you will excuse me, I have no more time to be commenting on here as I have to get ready for work this week :(<br />Philhttps://www.blogger.com/profile/00550264432110709714noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-41999819839352606292013-01-20T19:40:44.832-08:002013-01-20T19:40:44.832-08:002007/2008 were pretty close to 2010, condos probab...2007/2008 were pretty close to 2010, condos probably higher during the 2008 peak then 2010.Markohttps://www.blogger.com/profile/08315282480144281935noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-45336801227604278382013-01-20T19:14:45.571-08:002013-01-20T19:14:45.571-08:00Peak. In my opinion.Peak. In my opinion.Anonymoushttps://www.blogger.com/profile/08188115284116016130noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-57923347924773062602013-01-20T19:10:29.726-08:002013-01-20T19:10:29.726-08:00It is also my view that local conditions will retu...<i> It is also my view that local conditions will return or surpass peak within ten years.</i><br /><br />Ten years from peak (which was mid-2010) or ten years from now?<br /><br />I think either one is unlikely.patriotzhttps://www.blogger.com/profile/11154064267408955762noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-68128190211557383862013-01-20T18:00:20.922-08:002013-01-20T18:00:20.922-08:00Listed at $539,900...has not sold.Listed at $539,900...has not sold.Markohttps://www.blogger.com/profile/08315282480144281935noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-61448099650192405102013-01-20T16:31:46.949-08:002013-01-20T16:31:46.949-08:00Cornwall... Maybe it's a good deal if you'...Cornwall... Maybe it's a good deal if you're into the whole Fairfield thing, but I don't see the value. For the same price you can get 2000 sqft on a full size lot in east saanich rather than that little bungalow on a postage stamp. Leo Shttps://www.blogger.com/profile/02951281972056927807noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-9037274177647993962013-01-20T16:15:05.326-08:002013-01-20T16:15:05.326-08:00Did it sell for that or is it listed for that?Did it sell for that or is it listed for that?dasmohttps://www.blogger.com/profile/14638226799679794103noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-38914060137169399612013-01-20T16:08:37.087-08:002013-01-20T16:08:37.087-08:00Did it sell for that or is it listed for that?Did it sell for that or is it listed for that?dasmohttps://www.blogger.com/profile/14638226799679794103noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-46259739624922985642013-01-20T12:48:25.337-08:002013-01-20T12:48:25.337-08:00Anyone have any thoughts on 637 Cornwall St for $5...Anyone have any thoughts on 637 Cornwall St for $539,900? Purchased in February 2008 for $589,900.<br /><br />5 years later down $50,000. Auch.Markohttps://www.blogger.com/profile/08315282480144281935noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-76736902790519808922013-01-20T12:18:04.363-08:002013-01-20T12:18:04.363-08:00Perhaps you should read my post on the last board ...Perhaps you should read my post on the last board which got carried over to this one. Read here: http://www.blogger.com/comment.g?postID=9007189432915768879&blogID=7123542260692860177&isPopup=false&page=2<br /><br />I was merely pointing out that selling during a downturn is not the only way to manage an underwater mortgage. I was not pointing out that there was only an upswing. I was pointing to current market conditions and a potential reason to hold on rather than lose equity.<br /><br />There is a leap of logic here in attributing me to only posting an upswing. <br /><br />If you follow my posts, you will see that I have consistently stated that it is my belief there will be a downturn in the local market. How can there not be at some point. It is also my view that local conditions will return or surpass peak within ten years.<br /><br />Another opinion I have expressed is our local market will not mirror the US unless interest rates rise, but we will see. <br /><br />I have no crystal ball.Anonymoushttps://www.blogger.com/profile/08188115284116016130noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-6558616700766680362013-01-20T12:08:55.022-08:002013-01-20T12:08:55.022-08:00Totoro - Then why would you so interested in posti...Totoro - Then why would you so interested in posting upswings and not downswings in recoveries? Both sides of the coin so to speak. <br /><br />I get what you are trying to say but Arizona is not here and their failures started years ago, it is only in the beginning stages here.Jack and Catehttps://www.blogger.com/profile/12600984392414748614noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-13027201635220368682013-01-20T12:08:15.425-08:002013-01-20T12:08:15.425-08:00We have separate bank accounts and credit cards fo...We have separate bank accounts and credit cards for each property. Easy way to track things.<br /><br />Mint.com calculates expenses for you and emails them to you monthly for free.Anonymoushttps://www.blogger.com/profile/08188115284116016130noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-91716917404858195922013-01-20T11:46:42.905-08:002013-01-20T11:46:42.905-08:00Not to mention expenses that were likely poorly ac...<i>Not to mention expenses that were likely poorly accounted for and almost certainly higher than originally budgeted, if they were budgeted at all. I doubt most homeowners kept detailed records of all expenses...</i><br /><br />I track all my expenses and income monthly in a spreadsheet. I'm sure almost no one else does, though.Introverthttps://www.blogger.com/profile/03333045260631104757noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-82434034325755218322013-01-20T11:45:36.400-08:002013-01-20T11:45:36.400-08:00I'm not even sure how we got on the when there...I'm not even sure how we got on the when there will be a full recovery in the US and how this is any way attributable to me as expressing an opinion on this. Not my area of expertise. <br /><br />Facts, however, are facts. <br /><br />My post only pointed out that there has been a significant upswing in value in Phoenix year over year - supported by credible and reliable statistical facts and not opinion.<br /><br />I don't know what will happen in the future. Only what has already occurred can be measured.<br /><br />I only form opinions on things I have experience with - the future of the US real estate market is not one of them.Anonymoushttps://www.blogger.com/profile/08188115284116016130noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-50063640300127440132013-01-20T11:39:03.153-08:002013-01-20T11:39:03.153-08:00http://www.ritholtz.com/blog/2009/09/when-will-rea...http://www.ritholtz.com/blog/2009/09/when-will-real-estate-recover-its-losses/Jack and Catehttps://www.blogger.com/profile/12600984392414748614noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-24633000901781636312013-01-20T11:38:30.004-08:002013-01-20T11:38:30.004-08:00Totoro - Predicting when the hardest hit US states...Totoro - Predicting when the hardest hit US states will recover is like predicting the weather. Depends on the source and what you want to believe. There isn't a day that goes by that you or I could find resources to support our positions - sort of like this one from 2009 by Moodys. Even then they were saying 2030 before California etc sees full recovery.<br /><br />Long past my due date.Jack and Catehttps://www.blogger.com/profile/12600984392414748614noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-5455948275326003782013-01-20T10:53:43.360-08:002013-01-20T10:53:43.360-08:00patriotz: "Being ahead means being ahead on a...patriotz: <i>"Being ahead means being ahead on all cash flows and imputed revenues, not just purchase versus selling price"</i><br /><br />Not to mention expenses that were likely poorly accounted for and almost certainly higher than originally budgeted, if they were budgeted at all. I doubt most homeowners kept detailed records of all expenses, even those who are attempting to write them off.jessehttps://www.blogger.com/profile/02155122147972263497noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-630902027401383952013-01-20T09:26:08.168-08:002013-01-20T09:26:08.168-08:00@intro
"A clause stating that the seller pay...@intro<br /><br />"A clause stating that the seller pays for grammar lessons for the buyer, Just Jack.<br /><br />(Why would you put a comma after "Say"?)"<br /><br />You appear to have a pathological need to expose minor imperfections in others. Are you self aware enough to tell us why?vawrhttps://www.blogger.com/profile/17588554412067862401noreply@blogger.com