03-08-2014, 06:26 PM
Glad to help, Jimmy, any way I could. Good luck with your search and keep us up to date with the results.
Hope you'll come back to visit us often.
Cheers,
Skook
Hope you'll come back to visit us often.
Cheers,
Skook
(03-10-2014, 11:39 AM)JimmyWW Wrote: [ -> ]Navier and Skook (and anyone else interested)
It occurs to me that legislation relating to house prices (by which I mean, mandating access to historical records) would really put the cat among the pigeons in terms of Canadian property, which perhaps explains why it's not happened yet.
For instance, in terms of the great data you guys have given me, it's pretty clear to me that almost all properties on Bowen are still priced significantly above assessed value, and that sellers are unwilling to move based on how long some properties stick at certain prices - which must, to be fair, be as frustrating for the realtors as the buyers. Now it may be that as a rural/urban area, etc, Bowen is a micro-market: but in the US and UK, access to this kind of data is a game-changer for both buyers and sellers.
Anyway, just thought I'd offer my reflections now that I've digested the data.
Jimmy
(03-10-2014, 03:55 PM)Skook Wrote: [ -> ]Current list pricing is hard to understand because you are in the "logic" phase of your search. When you've finally reached the point of choosing between two or three homes, then your emotions kick in. You want that home that meets all your wishes and desires.
So, my thought is when you go to sell, all those emotions come to the surface again. The listing price set is thus a combination of monetary and emotional values. More than likely, buyers in the future will be thinking the same about your property when you put it on the market one day. Of course, your home will be special and worth every penny of that list price...LOL.
Quote:I've made this point on Vancouver Price Drop and it may not apply to Sunshine Coast places, but I honestly believe we are going to see drops of up to 80% in certain areas of the Lower Mainland BUT (and that's as big a but as I can make it) the drops are misleading in a sense, because the asking prices were such fantasy... e.g. a house went from 1.75 mil in 2007 to an asking price at peak of 8.888 (etc) mil in 2012 - now being offered for 5 mil 2 years later, and assessment is 3.5 mil.
Let's assume it sells for 2.5 million - the headline-grabber is "price drops over 70%!" - but of course the reality is (once the insanity has left us), the price has gone up by $250,000 in eight years...
All of that said, I honestly believe there is no end to the drops from these delusional levels. You know where I'm looking, and folks are still asking approx 30-40% over assessment in that area. As Navier said and I'm finding out, some people really are *convinced* that's what their homes are worth. Time and experience will tell them, I guess...
(03-20-2014, 01:36 PM)Skook Wrote: [ -> ]Hey Jimmy,
I just stumbled on the website of a co-housing project currently under construction near Snug Cove on BI. The architect is Peter Treuheit of Mobius Architecture (some cool past project designs) and the builder is Burtnick Enterprises - both from the Sunshine Coast.
The units are pricey but then you are also paying for the land and common area buildings. You might find it interesting to nose around the Belterra Co-housing website.
I had a chance to visit the Roberts Creek Co-housing complex a few years back and I was really impressed for a number of reasons. Unlike, BI's Belterra, the units here are single detached homes. There is a home for sale there now and its cheaper than the Belterra units; however, land was a lot cheaper when the first RC co-op members made that initial purchase.