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Thread: Real Estate Crash thread
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06-14-2021, 03:51 PM #15051I drink it up
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06-14-2021, 03:52 PM #15052I drink it up
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06-14-2021, 03:56 PM #15053
Congrats on your new home and the millstone.
I have been in this State for 30 years and I am willing to admit that I am part of the problem.
"Happiest years of my life were earning < $8.00 and hour, collecting unemployment every spring and fall, no car, no debt and no responsibilities. 1984-1990 Park City UT"
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06-14-2021, 03:59 PM #15054
Well that is the density preached as the savior gospel by the city-living-for-all-affordable-environmentalists. You should rejoice when an 18 story tower went up next you... and also you should sell you SFH to a developer who will build a tower where your SFH was because anything else is selfish. Do you hate poor people or something? Perhaps, if you are bougie enough you will sell for enough to get the penthouse in the new tower.
Originally Posted by blurred
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06-14-2021, 04:17 PM #15055Registered User
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Yes that house is in a specific area now zoned for towers and major density increase. Part of the Cambie Corridor Plan along the Canada Line. The Canada Line is our North / South transit line that links Vancouver to Richmond / YVR airport. It was semi fast tracked to finish for the 2010 Olympics. I'd have to go dig further to see the history on the Cambie Corridor Plan but it's not new news that there would eventually be towers surrounding the Kid Ed, Langara, Oakridge, Marine transit stops.
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06-14-2021, 04:20 PM #15056
Equitable Laws....putting the Large Equity Firms and Developers on equal footing with the residential home buyer?
https://katu.com/news/local/oregon-l...ing-home-sales
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06-14-2021, 04:25 PM #15057I drink it up
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I wrote letters on my last two home purchases and I’m certain that it played a significant factor in both. Wooley will tell you that sales is an emotional and irrational business.
As a seller I’d rather take the offer from the family than the investor.
There were a couple times during the process that the realtors actively ran interference, and in a situation where I wasn’t equipped to have those discussions they would be serving me well, maybe, but their goal isn’t exactly to keep prices low, so I’m skeptical of more or less anything that they do.focus.
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06-14-2021, 04:25 PM #15058
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06-14-2021, 04:28 PM #15059
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06-14-2021, 04:32 PM #15060______
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Sellers and selling agents have reportedly become wary of these letters recently for fear of running afoul of discrimination laws and have been stripping them out of the offer package even if the buyer includes them.
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06-14-2021, 04:33 PM #15061
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06-14-2021, 05:04 PM #15062Registered User
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It would mean you're living in a winning lottery ticket. Like I have said many times on here, development INCREASES property values. I love my house, but for a sum of cash that means I would never have to work another day in my life... I'd be out. I could easily find a half mil place around here, buy a fucking sprinter and never kiss ass on another TEAMS call as long as I live.
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06-14-2021, 05:07 PM #15063I drink it up
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06-14-2021, 05:08 PM #15064
How do you build 18 stories on 6,000 foot lot?
#PenisBuildingsMatter
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06-14-2021, 05:21 PM #15065
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06-14-2021, 06:57 PM #15066
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06-14-2021, 06:59 PM #15067
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06-14-2021, 07:18 PM #15068
https://en.m.wikipedia.org/wiki/111_West_57th_Street
84 stories on 20k sf...
Sent from my iPhone using TGR ForumsBest Skier on the Mountain
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1992 - 2012
Squaw Valley, USA
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06-14-2021, 07:22 PM #15069
Not in this state. Listing agents are legally obligated to bring everything to the sellers. But you're right about the agencies not liking the sob story letters.
For starters, let's say there are two offers with letters, one from the Joneses, and one from the Singhs. Without any other information race is already in play. Or one of the letters says something about church. Or "my husband is so excited about being able to walk to his new job at Dewey, Cheatham & Howe" implying that their offer is less likely to fall apart. Plus, people just straight up lie.
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06-14-2021, 07:24 PM #15070
"Love letters" sound good and all, but they are definitely problematic and I have not advised clients to use them or read them.
"Our family looks forward to many Christmas mornings spent by the fire". That may sound innocent but that little sentence is problematic. Family status is protected- someone shouldn't pick this buyer because they have a family over someone who is single. And then religion is in the mix, too. This buyer isn't supposed to get the house just because they're Christians who celebrate Christmas, and not atheist/Buddhist/Islamic etc. That's why our legal counsel have advised against them...
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06-14-2021, 07:25 PM #15071
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06-14-2021, 07:41 PM #15072______
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My understanding is that the selling agent will hold off on presenting the letters to the sellers until after they decide on the offer they are going to accept. I’m assuming the sellers have to be in on this arrangement.
Honestly at this point I don’t understand why they don’t just prequalify buyers and hold an auction instead of this escalating offer game that is going on now.
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06-14-2021, 07:46 PM #15073
RE: the prequal & auction, I'm not 100% on this, but I have a relative in Australia, and I think that does happen there.
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06-14-2021, 07:48 PM #15074
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06-14-2021, 08:08 PM #15075Registered User
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The round Macy's and a stubborn old lady.
https://gothamist.com/arts-entertain...-land-to-macys
Good luck w your new home!
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