tag:blogger.com,1999:blog-7123542260692860177.post8655278746711372949..comments2023-12-02T00:38:46.467-08:00Comments on House Hunt Victoria: Monday market updateHouseHuntVictoriahttp://www.blogger.com/profile/07456914359088891317noreply@blogger.comBlogger137125tag:blogger.com,1999:blog-7123542260692860177.post-64238393309586285612011-06-13T08:16:34.805-07:002011-06-13T08:16:34.805-07:00Monday, June 13, 2011 8:00am:
MTD June
2011 ...Monday, June 13, 2011 8:00am:<br /><br /> MTD June <br /> 2011 2010 <br />Net Unconditional Sales: 225 625 <br />New Listings: 590 1,503 <br />Active Listings: 4,742 4,730 <br /><br />Please Note<br /><br />•Left Column: stats so far this month<br />•Right Column: stats for the entire month from last yearMarkohttps://www.blogger.com/profile/08315282480144281935noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-91999179365597121012011-06-13T07:27:13.588-07:002011-06-13T07:27:13.588-07:00I drove by it a few times while they were working ...I drove by it a few times while they were working on it. It was a lift, maybe to keep the roof and save a few bucks there? Or maybe they had to keep a percentage of the framing to avoid some new build costs and paperwork?<br /><br />All I know is, when people say 'that looks like a million bucks', they sure aren't talking about Windsor.Mindsethttps://www.blogger.com/profile/16898125754772581488noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-40065499948514352992011-06-13T06:45:41.935-07:002011-06-13T06:45:41.935-07:00Mindset, Waiting.
I couldn't believe the pric...Mindset, Waiting.<br /><br />I couldn't believe the price of the Windsor one as well. I see it has already been reduced to $969,900.<br /><br />It also states "HST Not Included". Does that mean you don't have to pay HST because it is a used residential, or do they mean that you have to include the HST on the purchase price? <br /><br />Just wondering: if you undertake a "substantial" renovation (say 90% of the building), does this put your houses in the "new" construction category, and therefore HST applies? It states in the listing “completely rebuilt from the foundations to the roof.” <br /> If they paid $550,000 for it - I wonder how much they put in. Even if they put in $150,000, that's still quite an asking price they've put on it. It will be really interesting to see if it sells, or rather, what it sells at, especially is the HST has to be added. <br /><br />Also, I agree, one bedroom up and three fairly small bedrooms in the "grade level" basement doesn't seem very appealing either.<br /><br />Less than 10 years ago, their asking price would have got you an Uplands home – I remember driving by a property (an old rancher) on a one acre waterfront (3120 Humber) I seem to remember it was listed in the upper $600,000’s. It sold and the new owners built a massive brown mansion (next to the white “icing coated” mansion). It sold in the millions. Those were the days when it must have been fun to flip/build houses.<br /><br />Today, however, I wouldn't want to be the owners of the one on Windsor.S-Jhttps://www.blogger.com/profile/07387040076158433704noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-12706704381224389592011-06-13T06:34:02.135-07:002011-06-13T06:34:02.135-07:00and they just "reduced" the price to $97...and they just "reduced" the price to $970K. But now it does not include the HST as it did before. $970*1.12 = $1.086M. Old asking price $1.085M, but no HST.<br /><br />Sure, now buyer gets some HST rebate, but come on.a simple manhttps://www.blogger.com/profile/13054677016369304449noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-40653697526448014412011-06-13T06:17:06.430-07:002011-06-13T06:17:06.430-07:00That house on Windsor really doesn't make sens...That house on Windsor really doesn't make sense to me, and it wasn't a typical flip. They actually took that one right back to the studs and jacked it up. There was nothing special about it in the first place, so why bother. It wouldn't have been much more money to knock it down and start again. A lot of risk involved this time as it is a much different price point with a limited floor plan.omchttps://www.blogger.com/profile/11570216584047858772noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-31572766259085317312011-06-12T19:47:48.426-07:002011-06-12T19:47:48.426-07:00@mindset I called about the windsor house when it ...@mindset I called about the windsor house when it was for sale by owner (a month or so ago. Crazy price! And...they pulled a 'St Anne' and made it one bedroom up. Not sure why anyone would do that...Waitinghttps://www.blogger.com/profile/01783543528310522711noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-85034103844769844242011-06-12T16:52:56.827-07:002011-06-12T16:52:56.827-07:00Ok, I think we have a new winner for the 'laug...Ok, I think we have a new winner for the 'laughable listing of the month.'<br /><br />While driving past 2213 Windsor Rd on the way home, a clean but basic two story flip in Oak Bay, I was told it was listed for a cool 1.08 Million. My double take almost gave me whiplash. <br /><br />Because I couldn't believe it, I did some asking around. Assessment, $613k. Home size, 2400sq ft. Lot size, 6500. Purchase price $550K last summer.<br /><br />Granted they did lift it, and modestly refinish it, but starting $470K over assessed? <br /><br />Maybe its because of its 'georgeosly' finished exterior (yup, that spelling is plucked right from the listing.) I guess getting your exterior refinished by 'George' is quite exclusive.Mindsethttps://www.blogger.com/profile/16898125754772581488noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-30224647465640033462011-06-12T15:15:58.988-07:002011-06-12T15:15:58.988-07:00tragic MLS home pics ... normally I won't harp...tragic MLS home pics ... normally I won't harp on realtors and their photos but my 10 year old could take better/in focus pics than this FOR FREE. The last pics catches a tenant by surprise .. <br /><br />MLS®: 294878<br /><br />http://www.realtor.ca/PropertyDetails.aspx?PropertyID=10794583&PidKey=-1244349742Watching and waitinghttps://www.blogger.com/profile/12520657033904834033noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-56414931776362353502011-06-12T14:34:35.900-07:002011-06-12T14:34:35.900-07:00Just Janice,
I assume you went to the open house ...Just Janice,<br /><br />I assume you went to the open house at 160 Beach yesterday. The house was listed in 2007 for 1.15M and finally sold after reducing the price to 1.089M. I don't know the actual sale price. Now it is in foreclosure at an asking price of 1.15M. The BC assessment is 870K. <br /><br />The house across the street at 161 Beach is assessed at 1.074M and sold in April 2010 for 995k. The next door neighbour at 165 Beach is assessed at 651K and sold in April 2010 for 702K.<br /><br />There are 22 houses in Oak Bay for sale between 1M to 1.25M. Last month in this price range there were 3 sales.<br /><br />So... JustJanice what do you think about this place??Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-90145574559754826112011-06-12T12:48:44.099-07:002011-06-12T12:48:44.099-07:00I was reading an article today saying that the &q...I was reading an article today saying that the "average" US home today is selling at 2002 levels and many of the hardest hit locations are selling at 1990's levels.Alexandraherehttps://www.blogger.com/profile/13100843258061373047noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-80660465154297398692011-06-11T18:21:06.608-07:002011-06-11T18:21:06.608-07:001627 Hybury Pl is over priced for sure. But how a...1627 Hybury Pl is over priced for sure. But how about this one, also in Gordon Head, although not a flipper, is it worth $789K asking? <br /><br /><br /><a href="http://www.zoocasa.com/en/real_estate/1278953-1945-Appleton-Pl-Victoria-BC-V8N3A3" rel="nofollow">1945 Appleton</a><br>freedom_2008https://www.blogger.com/profile/16017963228192114898noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-12014185148640401692011-06-11T18:05:10.495-07:002011-06-11T18:05:10.495-07:00160 Beach.....Well 97 Beach is 1.495 million and h...160 Beach.....Well 97 Beach is 1.495 million and has been on the market 143 days so....brand new home.Markohttps://www.blogger.com/profile/08315282480144281935noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-68191478551401116172011-06-11T16:35:42.155-07:002011-06-11T16:35:42.155-07:00@Watching and Waiting
According to my PCS, 1627 H...@Watching and Waiting<br /><br />According to my PCS, 1627 Hybury sold for 526K in November last year ... and now it's listed for 729K. <br /><br />I wonder, how much would they have spent.Trilobitehttps://www.blogger.com/profile/16109666931724602884noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-48361072691983955092011-06-11T16:35:05.495-07:002011-06-11T16:35:05.495-07:00160 Beach? Thoughts?160 Beach? Thoughts?Just Janicehttps://www.blogger.com/profile/06002680972898096266noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-31043588800065775262011-06-11T13:18:19.969-07:002011-06-11T13:18:19.969-07:001627 Hybury IS a flip ..sold for $505k a few month...1627 Hybury IS a flip ..sold for $505k a few months did it not?Watching and waitinghttps://www.blogger.com/profile/12520657033904834033noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-76674296021079477892011-06-11T10:31:06.943-07:002011-06-11T10:31:06.943-07:00I agree Mindset,
The nominal rates everyone discu...I agree Mindset,<br /><br />The nominal rates everyone discusses mean next to nothing unless they understand what inflation is doing. In the nearing long recession, nominal rates *may stay at record lows, but real rates will climb. Real rates = nominal rate - inflation rate. Obviously the reason is, inflation will fall to zero or below. *However I also expect with anaemic growth, Canada’s mortgage scheme and indebtedness will be fully exposed to bond markets as our overvaluations deflate. Thus, nominal bond rates could also rise, as investors demand higher rates of return for lending to high debt Canadians.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-28047297085745534332011-06-11T10:06:31.836-07:002011-06-11T10:06:31.836-07:00We have had a 1/2 lot in Oak Bay for ages that we ...We have had a 1/2 lot in Oak Bay for ages that we would love to sell. But council doesn't make it very easy as variances would be needed.<br /><br />Twice developers have presented their ideas but have been shot down. Are there any tiny houses or cottages going up in Oak Bay anywhere?Debhttps://www.blogger.com/profile/15244552134826230730noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-32603251994408425852011-06-11T07:59:44.365-07:002011-06-11T07:59:44.365-07:00Eatme Said: All of you expecting higher rates - ho...<i> Eatme Said: All of you expecting higher rates - how high are you expecting them to go with the anemic global growth right now? </i><br /><br />I'm hearing statements like this a lot. Anyone want to provide the underlying theory on how a long drawn out global recession is good for house prices even if interest rates stay at record lows?<br /><br />Earnings go down and unemployment go up in recessions which equals less buyers.Mindsethttps://www.blogger.com/profile/16898125754772581488noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-38455355068420129762011-06-10T20:16:21.619-07:002011-06-10T20:16:21.619-07:00"
UK inflation is running at 4.5%. Australia ..."<br />UK inflation is running at 4.5%. Australia just had the biggest jump in inflation in over 5 years."<br /><br />Temporary in my opinion. Watch wages.Rhinohttps://www.blogger.com/profile/04594599019555787326noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-59864040456636678842011-06-10T17:32:31.567-07:002011-06-10T17:32:31.567-07:00yikes ! the $700k range for a pimped up Gordon He...yikes ! the $700k range for a pimped up Gordon Head box. I vote that one, the most over priced home on the market.omchttps://www.blogger.com/profile/11570216584047858772noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-9442082718847631372011-06-10T17:12:43.880-07:002011-06-10T17:12:43.880-07:001627 Hybury looks like a flip...1627 Hybury looks like a flip...Markohttps://www.blogger.com/profile/08315282480144281935noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-22698325394657741592011-06-10T17:00:24.433-07:002011-06-10T17:00:24.433-07:00"I have to agree with eatme on interest rates..."I have to agree with eatme on interest rates. The real issue at hand is still deflation. industrial economies won't raise rates until this threat is gone. And it won't be gone...for a long long time."<br /><br />UK inflation is running at 4.5%. Australia just had the biggest jump in inflation in over 5 years.Craighttps://www.blogger.com/profile/06687365669171143056noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-59319669085878362152011-06-10T16:56:37.277-07:002011-06-10T16:56:37.277-07:00" List the reasons why it is a good time to b...<i>" List the reasons why it is a good time to buy."</i><br /><br />1. You can negotiate a huge discount for an uber-desperate seller who has had no offers.<br /><br />That's about it from a strict financial perspective. Any other reason is justification for overpaying citing lifestyle reasons. Fine, but at least admit you're overpaying.jessehttps://www.blogger.com/profile/02155122147972263497noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-22343504611010901822011-06-10T16:49:10.397-07:002011-06-10T16:49:10.397-07:00If we start to see flips in that neighborhood, we ...If we start to see flips in that neighborhood, we are in trouble. The standard flip was always the crap 40s house in South Oak Bay, painted up with a fancy kitchen. do the yard up and wait for an out of town retiree who doesn't know the market... They would usually buy in the low $600k range and sell in the $800k range. It was mostly dirty realtor money doing this, so realtor's fees weren't an issue.<br /><br />I wonder what the upper rage price for a crap 50s house, in a less than ideal location and small lot is. The out of town retirees aren't hot on that area.omchttps://www.blogger.com/profile/11570216584047858772noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-18534717444727514612011-06-10T16:07:34.692-07:002011-06-10T16:07:34.692-07:00speaking of which - Sandowne had the heavy equipme...speaking of which - Sandowne had the heavy equipment in the yard last week and regraded the yard. new roof is going on this week.<br /><br />How long until we see the flip relisted at $900K?<br /><br />Or maybe they are very ambitious, well-connected owners.a simple manhttps://www.blogger.com/profile/13054677016369304449noreply@blogger.com