Wednesday, August 13, 2008
the view from here
Things still look stoopid out there. Prices and quality are all over the place. I gave up on trying to keep track of asking prices for comparison a while ago, I just don't care that much. My new criteria for judging how things are going is to do a search in the whole of East Vancouver for places under $400K. I found one today; MLS V726307 It's a crack shack on a 55' x 37.22' lot for $335,000. Monthly payment (with 5% down) is $ 2,450, Household Income Required $ 91,866. Great deal for that high school principal. The adjacent lot is for sale as well, and I presume for much the same price, so a 110' x 75' lot will cost you less than $700K! Don't worry about the dubious address, something good will happen.
I have noticed that I don't get the flyers in my door telling me that such and such agent has a buyer for my house (whether it's for sale, or not), and I don't get the free note pads from William Wat and his cohorts anymore. The heady days of lots of paper for shopping lists are over. A free note pad to whomever can guess what the picture above is!
My neighbour had her flipper house for sale for the high $800's, for a couple of months with no bites. She cannot sell it for less without losing money. It doesn't show up on MLS anymore, though the "For Sale" sign is still up. It is now some kind of rooming house that violates the zoning. I am not a jerk enough to complain to the city, and it's kind of cool living next to a rabbit warren anyhow.
It is getting easier to spot flipper houses, the prices don't seem to drop, and they sit empty. People are reporting serious price drops over at the cool blogs like the pope's and Rob Chipman's, but I don't follow individual places closely enough to comment. I still see some old favourites on MLS, but I can't make comparisons to 3 months, or 6 months, or longer ago. Could be a slow bleed. We will have to wait for the economy to worsen. Or, not!
It sure looks like down from here. I heard it on the news!
The picture is of the interior of a plastic watering can with the setting sun high-lighting the tulip pattern embossed on the side. I dunno, there is something poignant about the setting sun, black holes, tulips, RE... I just played with it a bit.
tony danza and blue skies came closest in the contest (the only ones! sheesh!), in that their conjectures involved aqueous solutions.
Unfortunately, the contest is now over, and no note pad prizes were awarded.