Anything any sale should done by Canadian first because all black money or corruption money coming to Canada
Wcomeau - 6 years ago
I would like to see real estate held up to advertising standards of all other industries. In our quest to purchase a home this past year we have discovered some very disturbing findings.
1. MLS listing are stated to be updated daily...however, real estate companies are leaving lower priced condos on the site for weeks...maybe even a month or more, that when a potential buyer makes an inquiry, are informed the condo is gone...but ONLY after accepting calls from the realtor. An email inquiry will NOT provide you with that information.
2. Real estate agents appear to be engaged in unethical practices to inflate prices...not the foreign buyer!!! I have found multiple listings - that when I make an inquiry, find that the condo is going to be removed off of the listing (though this will take them a couple of weeks to do) and relisted at a higher price. I was informed by a real estate agent that the realtor has put it on the listing to gauge how many inquiries they get and if it is a high volume they take it off the market and then increase the price exponentially!!! It was explained that it is the realtors right to get the best price for their client (though I wonder if it is another agent or even themselves that are profiting). My issue is that if the agent does not know the market enough to price it appropriately, they should not be in the business. Again, this is false advertising and if any other business advertised at a given price they would be obliged to keep it at that price- and take the offers that come from it - for a set period of time before being allowed to relist. They should NOT be allowed to use the MLS list site as a way to false advertise!!!!
3. I was under the impression that realtors house flipping was not legal. I am not sure if this is true or not, but I can say that I found a listing for a PoCo condo at 169,000 that was sold on August 10, 2017, and put back on the market just over 3 months later for 219,000!!!! There was no work done on the unit and no explanation for the 30% increase in pricing other than someone knew that the stress test was coming which would cause a rash of immediate purchases for those in the low-income bracket.
I find these practices a clear violation of everything that the city of Vancouver has been promoting in terms of affordable housing. Moreover, all of the reports I have read in regards to the cause of low\mid income earners being unable to afford the housing have turned a blind eye to the practices of real estate companies that are robbing and feeding off of those who can least afford it and blaming foreign buyers instead.
Regulation needs to start with the real estate companies first!!!!
Wcomeau
Wcomeau - 6 years ago
I would like to see real estate held up to advertising standards of all other industries. In our quest to purchase a home this past year we have discovered some very disturbing findings.
1. MLS listing are stated to be updated daily...however, real estate companies are leaving lower priced condos on the site for weeks...maybe even a month or more, that when a potential buyer makes an inquiry, are informed the condo is gone...but ONLY after accepting calls from the realtor. An email inquiry will NOT provide you with that information.
2. Real estate agents appear to be engaged in unethical practices to inflate prices...not the foreign buyer!!! I have found multiple listings - that when I make an inquiry, find that the condo is going to be removed off of the listing (though this will take them a couple of weeks to do) and relisted at a higher price. I was informed by a real estate agent that the realtor has put it on the listing to gauge how many inquiries they get and if it is a high volume they take it off the market and then increase the price exponentially!!! It was explained that it is the realtors right to get the best price for their client (though I wonder if it is another agent or even themselves that are profiting). My issue is that if the agent does not know the market enough to price it appropriately, they should not be in the business. Again, this is false advertising and if any other business advertised at a given price they would be obliged to keep it at that price- and take the offers that come from it - for a set period of time before being allowed to relist. They should NOT be allowed to use the MLS list site as a way to false advertise!!!!
3. I was under the impression that realtors house flipping was not legal. I am not sure if this is true or not, but I can say that I found a listing for a PoCo condo at 169,000 that was sold on August 10, 2017, and put back on the market just over 3 months later for 210,000!!!! There was no work done on the unit and no explanation for the 30% increase in pricing other than someone knew that the stress test was coming which would cause a rash of immediate purchases for those in the low-income bracket.
I find these practices a clear violation of everything that the city of Vancouver has been promoting in terms of affordable housing. Moreover, all of the reports I have read in regards to the cause of low\mid income earners being unable to afford the housing have turned a blind eye to the practices of real estate companies that are robbing and feeding off of those who can least afford it and blaming foreign buyers instead.
Regulation needs to start with the real estate companies first!!!!
Wcomeau
Trumplover - 7 years ago
It's the Chinese. It's the Chinese.
It's the Chinese...
We need to seize their money and cancel their visa. 85% Chinese now @ ubc.
James Somerville - 7 years ago
Commenting on the poll offered, the Sun should try to offer a poll which only allows those voting, ONE VOTE!
Once again, if anyone wants to vote more than once, just delete your cookies and vote again, and again, and again.
James Somerville - 7 years ago
Several comments.....
First, on Gregor's announcement, I noticed that there was NO reference as exactly how he would propose to enforce his motion OR if he has received an opinion from his Law Department as to the legality of his motion. This is all "optics" and nothing else.
Loop holes abound on this one.....the developer bumps the asking price by $500,000 or so above what his actual intended asking price would be; not surprisingly, no locals purchase within the one month limit and he now sells the development Off-shore at a lower price using the 'no sales' to locals as the rationale for the lowered price.
As far as keeping speculators out referencing the Horseshoe Bay development, the development is Sold Out with currently about 15 units being offered by purchasers who had no intention of living there. So much for the success of West Vancouver council's success.
Just another FAILURE to add to Gregor's resume! Solving Homelessness - FAILED! Solving the Fentanyl crisis - FAILED! Controlling Air B&B short-term rentals - FAILED! The Mayor's Council referendum on Transit funding - FAILED! Resolving the 'Empty Homes' crisis to increase rentals - FAILED!
What a resume to offer if he runs for another term - FAILURE!
KY - 7 years ago
What's the point now? I'd say 'too little, too late' but that'd be like rubbing salt on the realty wounds. But maybe Vision can throw a few carts to the locals..... They'd go great with all those horses they let outta the barn around 10 years ago.
Presales to locals mean nothing if the condos are 'luxury' condos starting at a couple million. Sure - pre-market them to locals then when they don't sell, sell them to rich offshore buyers. This will change nothing. The development I have linked is a perfect example.
Laine - 7 years ago
Not from van here but I think that locals should have first crack at new building sales even tho most of the locals will be priced out for the most part
inglorious bastards - 7 years ago
The saying " white man" predominantly/connivingly/cowardly _introduced by the nazis after their devastating loss in WW2 in an attempt to hoodwink the paler North Europeans into not exterminating the nazis then and in WW3. (Media take note)
Trumplover - 7 years ago
Chinese very tricky
They will find a way to make money off of whites. Good ruck mayor!
Ching Chong - 7 years ago
Ban all the Chinese. Make them move out to Alberta. BC doesn’t want them. They’ve taken over all the schools/land/roads(crashes)/etc...
Ching Chong - 7 years ago
Ban all the Chinese. Make them move out to Alberta. BC doesn’t want them. They’ve taken over all the schools/land/roads(crashes)/etc...
Ride Like Mike the Bike - 7 years ago
Make Canadian citizenship a minimum requirement for presales, but also make sure they have filed for Canadian taxes for the previous two years. restrict foreign buyers to what's left or resales after occupation.
Patricia Kealy - 7 years ago
Pre-salers must pay property tax and also I like the idea of real estate only for Canadian citizens.
Lai - 7 years ago
Another thing is to stop selling of contracts ( assignment) for pre-sale condos before completion. One could reap 10 to 30% profit of total price based on just 15 to 20% deposit.
Kit - 7 years ago
If there was not a person in Canada, then there would not be a dollar in Canada.
R. NYIRFA - 7 years ago
To stop all of the useless bickering we should grow a set (like Australia) and pass a law that in order to buy and own property anywhere in Canada you MUST be as Canadian citizen and file income tax returns in Canada. FULL STOP!!!!!!!
Anything any sale should done by Canadian first because all black money or corruption money coming to Canada
I would like to see real estate held up to advertising standards of all other industries. In our quest to purchase a home this past year we have discovered some very disturbing findings.
1. MLS listing are stated to be updated daily...however, real estate companies are leaving lower priced condos on the site for weeks...maybe even a month or more, that when a potential buyer makes an inquiry, are informed the condo is gone...but ONLY after accepting calls from the realtor. An email inquiry will NOT provide you with that information.
2. Real estate agents appear to be engaged in unethical practices to inflate prices...not the foreign buyer!!! I have found multiple listings - that when I make an inquiry, find that the condo is going to be removed off of the listing (though this will take them a couple of weeks to do) and relisted at a higher price. I was informed by a real estate agent that the realtor has put it on the listing to gauge how many inquiries they get and if it is a high volume they take it off the market and then increase the price exponentially!!! It was explained that it is the realtors right to get the best price for their client (though I wonder if it is another agent or even themselves that are profiting). My issue is that if the agent does not know the market enough to price it appropriately, they should not be in the business. Again, this is false advertising and if any other business advertised at a given price they would be obliged to keep it at that price- and take the offers that come from it - for a set period of time before being allowed to relist. They should NOT be allowed to use the MLS list site as a way to false advertise!!!!
3. I was under the impression that realtors house flipping was not legal. I am not sure if this is true or not, but I can say that I found a listing for a PoCo condo at 169,000 that was sold on August 10, 2017, and put back on the market just over 3 months later for 219,000!!!! There was no work done on the unit and no explanation for the 30% increase in pricing other than someone knew that the stress test was coming which would cause a rash of immediate purchases for those in the low-income bracket.
I find these practices a clear violation of everything that the city of Vancouver has been promoting in terms of affordable housing. Moreover, all of the reports I have read in regards to the cause of low\mid income earners being unable to afford the housing have turned a blind eye to the practices of real estate companies that are robbing and feeding off of those who can least afford it and blaming foreign buyers instead.
Regulation needs to start with the real estate companies first!!!!
Wcomeau
I would like to see real estate held up to advertising standards of all other industries. In our quest to purchase a home this past year we have discovered some very disturbing findings.
1. MLS listing are stated to be updated daily...however, real estate companies are leaving lower priced condos on the site for weeks...maybe even a month or more, that when a potential buyer makes an inquiry, are informed the condo is gone...but ONLY after accepting calls from the realtor. An email inquiry will NOT provide you with that information.
2. Real estate agents appear to be engaged in unethical practices to inflate prices...not the foreign buyer!!! I have found multiple listings - that when I make an inquiry, find that the condo is going to be removed off of the listing (though this will take them a couple of weeks to do) and relisted at a higher price. I was informed by a real estate agent that the realtor has put it on the listing to gauge how many inquiries they get and if it is a high volume they take it off the market and then increase the price exponentially!!! It was explained that it is the realtors right to get the best price for their client (though I wonder if it is another agent or even themselves that are profiting). My issue is that if the agent does not know the market enough to price it appropriately, they should not be in the business. Again, this is false advertising and if any other business advertised at a given price they would be obliged to keep it at that price- and take the offers that come from it - for a set period of time before being allowed to relist. They should NOT be allowed to use the MLS list site as a way to false advertise!!!!
3. I was under the impression that realtors house flipping was not legal. I am not sure if this is true or not, but I can say that I found a listing for a PoCo condo at 169,000 that was sold on August 10, 2017, and put back on the market just over 3 months later for 210,000!!!! There was no work done on the unit and no explanation for the 30% increase in pricing other than someone knew that the stress test was coming which would cause a rash of immediate purchases for those in the low-income bracket.
I find these practices a clear violation of everything that the city of Vancouver has been promoting in terms of affordable housing. Moreover, all of the reports I have read in regards to the cause of low\mid income earners being unable to afford the housing have turned a blind eye to the practices of real estate companies that are robbing and feeding off of those who can least afford it and blaming foreign buyers instead.
Regulation needs to start with the real estate companies first!!!!
Wcomeau
It's the Chinese. It's the Chinese.
It's the Chinese...
We need to seize their money and cancel their visa. 85% Chinese now @ ubc.
Commenting on the poll offered, the Sun should try to offer a poll which only allows those voting, ONE VOTE!
Once again, if anyone wants to vote more than once, just delete your cookies and vote again, and again, and again.
Several comments.....
First, on Gregor's announcement, I noticed that there was NO reference as exactly how he would propose to enforce his motion OR if he has received an opinion from his Law Department as to the legality of his motion. This is all "optics" and nothing else.
Loop holes abound on this one.....the developer bumps the asking price by $500,000 or so above what his actual intended asking price would be; not surprisingly, no locals purchase within the one month limit and he now sells the development Off-shore at a lower price using the 'no sales' to locals as the rationale for the lowered price.
As far as keeping speculators out referencing the Horseshoe Bay development, the development is Sold Out with currently about 15 units being offered by purchasers who had no intention of living there. So much for the success of West Vancouver council's success.
Just another FAILURE to add to Gregor's resume! Solving Homelessness - FAILED! Solving the Fentanyl crisis - FAILED! Controlling Air B&B short-term rentals - FAILED! The Mayor's Council referendum on Transit funding - FAILED! Resolving the 'Empty Homes' crisis to increase rentals - FAILED!
What a resume to offer if he runs for another term - FAILURE!
What's the point now? I'd say 'too little, too late' but that'd be like rubbing salt on the realty wounds. But maybe Vision can throw a few carts to the locals..... They'd go great with all those horses they let outta the barn around 10 years ago.
Presales to locals mean nothing if the condos are 'luxury' condos starting at a couple million. Sure - pre-market them to locals then when they don't sell, sell them to rich offshore buyers. This will change nothing. The development I have linked is a perfect example.
Not from van here but I think that locals should have first crack at new building sales even tho most of the locals will be priced out for the most part
The saying " white man" predominantly/connivingly/cowardly _introduced by the nazis after their devastating loss in WW2 in an attempt to hoodwink the paler North Europeans into not exterminating the nazis then and in WW3. (Media take note)
Chinese very tricky
They will find a way to make money off of whites. Good ruck mayor!
Ban all the Chinese. Make them move out to Alberta. BC doesn’t want them. They’ve taken over all the schools/land/roads(crashes)/etc...
Ban all the Chinese. Make them move out to Alberta. BC doesn’t want them. They’ve taken over all the schools/land/roads(crashes)/etc...
Make Canadian citizenship a minimum requirement for presales, but also make sure they have filed for Canadian taxes for the previous two years. restrict foreign buyers to what's left or resales after occupation.
Pre-salers must pay property tax and also I like the idea of real estate only for Canadian citizens.
Another thing is to stop selling of contracts ( assignment) for pre-sale condos before completion. One could reap 10 to 30% profit of total price based on just 15 to 20% deposit.
If there was not a person in Canada, then there would not be a dollar in Canada.
To stop all of the useless bickering we should grow a set (like Australia) and pass a law that in order to buy and own property anywhere in Canada you MUST be as Canadian citizen and file income tax returns in Canada. FULL STOP!!!!!!!