New Listing

We’ve just listed a property that we’ve managed for several years. It is in Maple Ridge, is currently rented, and lists for $403,000. It hasn’t even hit the MLS yet.  For more information call Aaron Best 790-1295.

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9 Comments

Filed under For sale

9 responses to “New Listing

  1. Dyugle

    Rob you sound like you have been through a few cycles I was wondering if the collective wisdom of the owners of the properties you manage has ever expressed itself?
    By that I mean do you have fewer properties to manage at the top of the market cause the owners are smart or do you have fewer at the bottom of the market cause the owners are not smart or is there no corelation at all?
    Thanks

  2. robchipman

    Dyugle:

    No real correlation, but there is collective wisdom (at least I think there is). They buy and hold. They expand their holdings. They leverage what they ahve. They prepare to hold through inevitable downturns. They don’t panic.

    BTW, the vast majority were not born with silver spoons in their mouths.

    When the market is hot I do tend to sell a bit more, but I also buy a bit more. Right now we’re selling more than we buy, but a few years ago we were buying like crazy. When we’re really cooking we’re in buying mode. Sell mode is never as hot (we work with people who, by nature, are acquisators). We don’t hemmoraghe (sp?) management contracts at a time like this, because we also sell and re-buy, and we acquire management contracts without buying the property for the clients (brand new business).

  3. fish

    Rob

    What’s the rent and taxes please.

    I promise NOT to disect the numbers this time.

  4. jojuchst

    Rob,

    Can you post/email more info on this listing? Like rent amount, address, etc… And possibly some pictures?

    Thanks

  5. robchipman

    Brand new listing, no pictures yet. Data input sheet hasn’t even been filled out. Listing is not yet submitted. Ad copy not yet written.

    Will it break even at 25% down? No. Do you want a place in MR? If so, I think this one is well priced and won’t last long (I could be wrong, you never know). But, its Friday, long weekend, and I’m too busy for the Giant’s game, so…

    “For more information call Aaron Best 790-1295”. 🙂

  6. fish

    And here is the latest from the Fraser Valley.

    This is a good blog to follow too:

    http://langley-financial-planning.blogspot.com/2007/10/prices-are-down-08-in-fraser-valley.html

  7. fish

    Cant respond to News flash on the previous thread. Maybe the blog setting has been changed to bullish comments only
    News FLash

    Lets not let facts get in the way shall we.

    This unit is 1028 sq feet. Which is small .

    So it must really be a 2 bed and den

    Here are the comparisons from Craigslist:

    http://vancouver.craigslist.org/apa/444403830.html
    http://vancouver.craigslist.org/apa/442201409.html

    The unit mentioned is not a premium building. The $3300-9000 are premium buildings with a view and some are twice as big.

    The average for 1000 sq feet in the second tier buildings is $2000-$2400.

    So we have a few hundred room to move up- that should tke care of my underestimation of the expenses.

  8. robchipman

    fish:

    The blog is set to filter spam, and one definition is more than one link. However, if I can find a bear filter I’ll turn it on! 🙂

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