Due to popular request, Chan has returned 😛
There were 168 new listings on Friday and 93 sales for a sell/list of 55.36%
Current inventory is 11840.
2854 (24.1%) of those are over 90s.
Due to popular request, Chan has returned 😛
There were 168 new listings on Friday and 93 sales for a sell/list of 55.36%
Current inventory is 11840.
2854 (24.1%) of those are over 90s.
Filed under Daily Numbers, Mortgage Rates
The Best Real Estate Anywhere! 
WoW, lots of over 90s….
Hi Chan!
Dollar closes 104.96 up, up and away.
Oil closes 93.53 up, up and away. Noticed some gas stations starting to raise prices this afternoon four cents per litre.
Bank of Canada injects 650 million. Credit crunch still on.
Gimme a C
Gimme a H
Gimme an A
Gimme a N
Whaddya got. CHAN. Yay, Chan is back with her daily numbers.
Canadian Manufacturing dissent
The sector’s in rough shape, but not everyone thinks that’s a problem (3 pages)
http://tinyurl.com/2hkbk3
I was looking on Craigslist under real estate and there seems to be a lot for sale. Is this normal for this time of year, moving into November?
Was visiting a friend in North Delta over the weekend and there were a surprising number of For Sale signs. I counted a dozen on 116th St between 72nd Ave and 8oth Ave alone.
I’d be interested in hearing a local take on the situation if someone has one.
Thanks for the numbers, Chan!
Wow, very weak sales on Friday– not a whole lot of listings, but very few sales also. It’s not often that we see days with under 100 sales.
Signs of a real estate top? New way to move Vancouver condo listings?
http://tinyurl.com/ywx8xx
“The goal is not to generate a revenue stream per se for the investors, so much as it is to enable the group to benefit from the appreciation in the property value over 5-years.”
Priceless, crystal ball price increase predictions. And if prices fall or flat line……..
very weak sales on Friday– not a whole lot of listings, but very few sales also
i’m assuming sales shown for this Friday actually were initiated about 2weeks ago….
next 2 weeks should show if there is a dearth of buyers…..
bears…. get ready to sing the full “haleluia” chorus
coco “Signs of a real estate top? New way to move Vancouver condo listings?” so what happens if one or two of the partners can’t make their portion of the payment? 🙂
Strataman,
Investors have to put in 25k “cash” and the condo will be paid for in cash.
Downtown + FCN = 577 listings
coco “Investors have to put in 25k “cash” and the condo will be paid for in cash” coco do you know any details? Such as if 20 “shares” at $25000 were sold {$500,000.00} and I bought 11 shares would I determine when where th property was sold? Sounds like a really risk free investment for a dominant shareholder unless there are some sort of restrictions.
Strataman,
Not sure how you can consider the investment risk free. They do state that their goal is not to generate a revenue stream per se for the investors, but they count on price appreciation for the next 5 years.
Sure prices may go up over the next 5 years, but then again they can flat line or fall too.
I posted this on another thread, but I will explain this futher.
Next credit crunch $100.00 oil?
A lot of hedge funds bet that oil would drop, instead it rose. At $100.00 these funds will colapse so the central banks are trying to intervene, so this will not happen. Confidence in the economy will erode if other hedge funds not related to subprime go under.
re $25,000 condo share. They would probably rent it at a substantial loss, including having to pay for property management. What about condo fees, insurance, vacancies and damage etc.? Maybe 50% depreciation? That $25,000 could easily go POOF in five years.
No thanks, my $25,000 is staying in GICs.
coco “Not sure how you can consider the investment risk free” Under our current taxation procedures a mjority shareholder in a jointly owned property where the shareholder owns less than 60% of the assets the losses on said property are multiplied annually by capital depreciation. For instance this property could be depreciated by a business irregardless of market value increase or decrease. With multiple shareholders Revenue Canada will consider it a commercial property investment.
Wonder what gives Bank of Canada the right to put money into the market and where is that money from? Is it even constitutional? Who is BoC really protecting? The riches? When bubble forms, BoC calls it strong market and prosperity, when bubble is to deflat, BoC is worried sick and is printing money like mad to keep up the bubble.
http://tinyurl.com/27bol8
Homeownership in the U.S. has dropped the last four quarters, the longest string of declines since at least 1981, the Census Bureau said on Oct. 26. Also last quarter, a record 17.9 million U.S. homes were vacant.
S&P/Case-Shiller home-price index….good reading over your AM cuppa joe.
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