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real estate market

Discussion in 'Reality Check' started by HairyAss, Mar 3, 2022.

  1. Arod

    Well-Known Member

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    We are heading over to CB next weekend to look at land around the Bras D'or. There is going to be a ton of capital projects going on in all 3 counties and not is the time to buy before things go nuts. Probably the last place you can buy quality water frontage for $100k
     
    chainsaw, RoryTate and Nick84 like this.
  2. chainsaw

    Well-Known Member

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    I said to the wife a few weeks ago that we need to start looking soon too. We’ve. Always planned moving back when we retire and the prices are starting to jump in the industrial CB area now grrr
     
  3. billybob

    The Schooner, the better.

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    A tale of an Okanagan house

    Listing live @ 1pm Monday
    Call @1:30 for a showing at 4pm
    Prospective buyer showing 4-5pm
    Accepted unconditional offer for full asking price @ 9pm from 4pm showing


    Back to Calgary we go.
     
  4. billybob

    The Schooner, the better.

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    I'll miss you old friend. 6 good years in there.

    007-13185 Apex 007-1.jpg

    002-13185 Apex 002-1.jpg
     
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  5. RoryTate

    Buffer the streaming media unto me.

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    Cogratulations, I hope the new place turns out to be as nice as the old one.
     
  6. David Puddy

    yeah, that's right

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    that would be the dream.
    although i would like a summer/cottage home closer to HFX

    in other news; apparently theres going to be a new rule passing soon that will let you see what the bids/offers in on homes are as to slow down the overbidding wars happening
     
  7. TheOldskoo

    Huzzah!

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    Reasonably sure that won't do anything to curb bidding wars.
     
  8. Arod

    Well-Known Member

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    So far the ban on blind bidding is just proposed but the real estate associations are fighting it pretty hard.
     
  9. Wayne

    1%er

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    I hope they don't do too much before I flip the parents house in NS in June.
     
  10. 17

    17
    teenage dirtbag

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    It doesn’t matter, the market isn’t slowing here. If it’s 4 walls and half a roof within 25 minutes of the city it will sell for 350k+
     
  11. Boots

    www.reality-check.ca

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    House down the road went up for sale today. Neighbor said they are asking over 500K for it but I can't find any listing online yet. It's a 250K home tops :eek3:
     
  12. Arod

    Well-Known Member

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    This is the new normal. I for one welcome higher interest rates.
     
  13. Boots

    www.reality-check.ca

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    My mortgage is now shorter than a typical car loan. I welcome higher rates lol
     
  14. Wayne

    1%er

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    I am renewing my mortgage soon, the interest rate sucks compared to what it was...sucks imo
     
  15. HairyAss

    HairyAss
    [OP]
    Cheese on Toast

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    IMO, everything the government is doing, whether it’s federal or provincial, to slow the market down, is misguided and won’t help. I’m facing a new tax on our cottage in Nova Scotia as an out of province house owner - the assumption from the PC’s is that this will get more properties on the market. From what I’ve heard, it will only be the super expensive properties that your average homebuyer can’t afford and none of them are in Halifax where the need is highest.
     
  16. Arod

    Well-Known Member

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    I think the non-res ownership rate is misguided and stakeholders weren't appropriately consulted. It will do absolutely nothing but piss people off.
     
  17. Grifter

    Bluh?

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    Saw a place in bear river going for $450,000. Sure it's nice but I've never heard of that price down there!
     
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  18. Boots

    www.reality-check.ca

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    I want them to address the issue of foreigners just buying up stuff here, whether it be homes or businesses. I don't like the idea of our country being owned by foreign entities. You should have to live here at least half the year or something if you're not a Canadian and want to own property.
     
  19. HairyAss

    HairyAss
    [OP]
    Cheese on Toast

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  20. Wayne

    1%er

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  21. David Puddy

    yeah, that's right

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    going to look at a property tomorrow. new family home for us. in cole harbour though, i really don't want to leave the harbour view behind but we need a bigger place for our growing family.
     
  22. Cheddar

    Red is the New Green

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  23. TheOldskoo

    Huzzah!

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    This one? I think you're in that area. It's rather ugly..
     
  24. Boots

    www.reality-check.ca

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    yes! Apparently they are thinking it might reach 600K .. it's wild. I feel like I could sell my house for a million dollars right now simply because it's waterfrontage. Fuck having to buy another house now though lol
     
  25. TheOldskoo

    Huzzah!

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    Yeah... it'll be a couple years before I even begin to consider it; shit's just too crazy. I bought a 2 level semi in the Armcrest area in 2017 and the idea was to invest the equity plus market value increase within 5-10 years into getting the actual forever home after that.

    I mean.. sure I can sell it for 200-250% of the price I bought it for, but to get what I actually want probably means I'd have to buy a plot of land 10-15 minutes outside of a smaller town and build on it (somewhere that I can still get internet that isn't DSL or fixed wireless). We'll see how things scale later this decade I guess..

    This is what happens when property gets treated as investments rather than homes. If it was like this 5 years ago I'd have never been able to buy a home.
     
  26. Boots

    www.reality-check.ca

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    Yeah it would be brutal to be looking for a house right now. Can't even imagine.
     
  27. Wayne

    1%er

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    In this market Steve, you would get $750k or more for sure
     
  28. Boots

    www.reality-check.ca

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    I have no intentions on selling right now but I'd love for one of the other lakefront houses to sell just to see what they'd fetch lol
     
  29. Lex Lucas

    feels good.

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    It has a rental/income property in the basement. That's what's driving the price for this one.
     
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  30. Arod

    Well-Known Member

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    The finishes themselves are fairly high end too.
     
  31. David Puddy

    yeah, that's right

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    put several offers in on places today, going to look at a few more properties this afternoon. but i doubt we'll get an accepted offer, we're not being aggressive enough
     
  32. J0e Th0rnton

    Active Member

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    Its pretty gross.

    I bought my house for $220000 five and a half years back. Most houses in the neighborhood hovered between $196000 and $325000 when i was buying. The $196k ones were usually bedrooms in basement, Kitchen and living room on 1st floor types, while mine is a 3 level semi with a finished basement. The $325000 houses were the ones on the lake or much nicer with 4 bedrooms, 2 full bathrooms and finished basements and bigger yards.

    Now im seeing houses like mine sell for $425000 and the previously 196k ones selling for $325000. its just insane.

    [​IMG]
     
  33. J0e Th0rnton

    Active Member

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    If you are not a citizen, you should not be able to buy at all.

    but BC has shown most initiatives they put into place are merely inconveniences to rich foreign entities. Student's backed by rich parents and loophole city. And foreign entities are still able to use corporation loopholes. Which none of our government parties want to address since they do it too.
     
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  34. Arod

    Well-Known Member

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    The basement bedroom windows don't appear to be egress either.
     
  35. Wayne

    1%er

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    Interest rates suck right now, just had to renew. Not happy about that, but out of my control.
     

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