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Registered
Join Date: Jun 2004
Location: Coquitlam, BC
Posts: 1,338
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Cashing in
Some in my neighbourhood are "cashing in" as we call it. Houses are all now $1.3m or more. Neighbour directly across had an open house last week end on Sat and Sun. Listed at $1,388,888 They were accepting offers on Tuesday at 7pm. I watched the action on Tues. 6:50 an SUV drove up and dropped off an offer and left. 15 minures later 5 SUVs pull up all within minutes of each other. Some alone on a phone others with someone else. They all were there for an hour. They went in the house once or twice.
Next day i got the story from the neighbour who sold (sold sign was up). All 5 offers were within $40K of each other. Bidding war. All buyers were Asian for whatever that's worth. One guy WANTED it, so he upped it by another $100K. Sold for $1.528M No contingencies. The sellers will move further out. In my case, Ilike where I live. I want to live here until I'm 80! Although some people say I'm sitting on a "million dollar mansion" it does nadda for my monthly bank account. And it ain't no mansion at 2255 square feet  I don't want to drive further to work, i like my job and will stay there 'til I retire. The grand kids are nearby. So the value of my house is a moot point. Actually we have about another 4 years to finish the mortgage and that's what I'mfocussed on. I just want to own it without the bank as "co-owner".
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Henri Owned for 21 years: '87 Carrera coupe Venetian blue Last edited by Hendog; 04-10-2016 at 09:52 PM.. |
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04-10-2016, 09:47 PM
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Now in 993 land ...
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The day my house hits $1 mil, I am out. I don't know where I am going, but it will be time to
pack it up.  I said that last time, it never got over 700k. Now it is about 750. I think it will peter out soon. We will see! G |
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04-10-2016, 09:52 PM
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Registered
Join Date: Jun 2004
Location: Coquitlam, BC
Posts: 1,338
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Let's say I sold for $1.5m then moved where i buy for $500-700. That doesn't leave enough ro retire on. i suppose i could find work, but I have a sweet job and no way I'll duplicate that anywhere else. Plus family and the location. I'm just too happy in my case.
I didn't think it would hit $1m so soon and now the nighborhood is talking about $2M. There are some in that range but the houses are really quite nice for that kind of loot. Nope, I'm keeping the blinders on and will just keep living my life.
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Henri Owned for 21 years: '87 Carrera coupe Venetian blue |
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04-10-2016, 10:07 PM
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Registered
Join Date: Jun 2004
Location: Coquitlam, BC
Posts: 1,338
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Besides, we're talking Canadian money; it's like Monopoly money!
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Henri Owned for 21 years: '87 Carrera coupe Venetian blue |
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04-10-2016, 10:11 PM
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Now in 993 land ...
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It depends on your personal situation. There are a lot of nice places this side of the rockies where I could get a house for $300k and have $700k left to buy two more, rent out and live off the proceeds...
G |
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04-10-2016, 10:14 PM
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Join Date: Jun 2004
Location: Coquitlam, BC
Posts: 1,338
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When i met my wife in the elevator of our high rise, we each owned our places. We got married and rented out the other unit. Didn't like being landlord. But i get your point. It is very do-able in that regard.
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Henri Owned for 21 years: '87 Carrera coupe Venetian blue |
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04-10-2016, 10:18 PM
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Now in 993 land ...
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I've been a landlord before. It's not a Ton Of fun but if it's the only thing you have to do? I agree if you have a full-time job it can be a drag! It is just one possibility ...
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04-10-2016, 10:50 PM
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Done!!!
Decided not to be a landlord and put my tiny home up for sale. Had a great real estate agent. GREAT! She had me spend a good chunk of change. Cleaning, fixing, and staging. Worth every dime. We had a feeding frenzy. 10 offers. And one super generous offer that was heads/shoulders above the rest. 14 day close. We are out!! Now to buy a new home. (Crap) Sent via Jedi mind trick.
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poof! gone |
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05-04-2016, 09:56 AM
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You do not have permissi
Join Date: Aug 2001
Location: midwest
Posts: 40,297
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Congrats vash.
Emotions and excess money can be a bad combo. Or a good one. |
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05-04-2016, 10:03 AM
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Now in 993 land ...
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Congrats and WATCH OUT! You don't want the market to run away from you. You will be that guy with the generous offer now. No contingencies! Good Luck!
G |
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05-04-2016, 10:07 AM
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Thankfully my current area is less hot.
I'll have extra swagger walking into the next open house. Sent via Jedi mind trick.
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poof! gone |
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05-04-2016, 10:13 AM
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Registered
Join Date: Mar 2004
Location: North Vancouver bc
Posts: 5,294
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100% increase in prices in certain area of Vancouver. in the first quarter of this year.
average 25% increase. in the first quarter of this year. we cashed in early. 2 years ago. a view property in Vancouver proper. we left approximately a million in after-tax profit on the table. : ( stayed downtown in my s.i.l.'s apt. downtown, last week. i saw 5 people in 4 days. everything is owned by off-shore investors, the place is at least half empty. the same can be said for the west side, land of the 5 million dollar starter shacks. |
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05-04-2016, 10:38 AM
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Join Date: Jan 2006
Location: Fullerton,Ca
Posts: 5,463
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Real estate shenanigans at Zillow!
So, I've been watching my house price skyrocket on Zillow the last 2 months. I cleared out my computers history due to it running slow yesterday. Prior to that Zillow showed my house 20% higher than it does 48 hours later
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" Formerly we suffered from crime. Today we suffer from laws" (55-120) Tacitus |
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06-09-2016, 12:27 AM
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Misunderstood User
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There are neighborhoods in Chicago that are red hot. Lot of building going on, most if not all rentals. Rents in these areas are very high. The monthly rent amount is higher than a montage with taxes included. Property on the market goes fast too. My son bought a place in Logan Square and he paid full list. He put his bid in the day before the property was listed. My ex lives in Lincoln Park and her duplex down sold in 2 days. The price she got set a new price mark for duplex downs.
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Jim 1983 944n/a 2003 Mercedes CLK 500 - totaled. Sanwiched on the Kennedy Expressway |
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06-09-2016, 04:43 AM
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Join Date: Mar 2004
Location: North Vancouver bc
Posts: 5,294
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the Chinese are now buying huge tracts of farmland in our area. and wineries.
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06-09-2016, 05:42 AM
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Too big to fail
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Quote:
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"You go to the track with the Porsche you have, not the Porsche you wish you had." '03 E46 M3 '57 356A Various VWs |
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06-09-2016, 07:03 AM
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Too big to fail
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Quote:
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"You go to the track with the Porsche you have, not the Porsche you wish you had." '03 E46 M3 '57 356A Various VWs |
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06-09-2016, 07:06 AM
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Registered
Join Date: Jan 2006
Location: Fullerton,Ca
Posts: 5,463
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Quote:
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" Formerly we suffered from crime. Today we suffer from laws" (55-120) Tacitus |
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06-09-2016, 07:20 AM
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Registered
Join Date: Mar 2004
Location: North Vancouver bc
Posts: 5,294
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our jet-setter friend recently dated a Chinese billionaire.
he is on a quest to purchase ALL of the available waterfront property on Vancouver Island |
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06-09-2016, 09:39 AM
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Registered
Join Date: Oct 2004
Location: CA
Posts: 5,929
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Quote:
The question is, where to do you go ? I'm sure you could buy something nice in S Dakota, but.... I used to think the same as you, but there aren't too many places I'd want to live that are substantially cheaper... |
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06-09-2016, 02:56 PM
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