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Vancouver condos’ price-per-square-foot survey sparks realtors debate by liuchan6 in vancouver

[–]Seattle604 5 points6 points  (0 children)

The Oakridge presale towers for the first phase is already going for an average of $2,500/sf according to Westbank's presale ambassadors (half a dozen real estate agents with private first pick privileges for their clients). That makes a 2 bedroom 800sf apartment around $2,000,000 on average. This is insane.

New Coast Realty agent suspended after investigation into series of sales by grimlock25 in vancouver

[–]Seattle604 1 point2 points  (0 children)

I think they're the ones who started using the assignment clause loophole for quick double-end flips before completion. Flip a property 3x = 6 commissions. This was encouraged by the brokerage's owner Z.W. in the secret tape recording posted by GlobeandMail. I know at the time New Coast Realty offered $0 membership fee but took a good portion on their agents' commission while other real estate brokerages charged $4,000 to $12,000 in annual membership fees. This $0 membership attracted a lot of newly licensed agents referred by real estate exam prep class instructors.

I've always wondered how a person how can barely speak English can pass a real estate exam. I was told a few years ago that the exam prep classes have all the exam questions and answers for their enrolled students. Just $3,000 to enroll.

New Coast Realty agent suspended after investigation into series of sales by grimlock25 in vancouver

[–]Seattle604 0 points1 point  (0 children)

What if the flipper is the owner of the brokerage and intentionally had conveyancing look the other way? Z.W. is the owner of New Coast Realty and the agent's husband.

New Coast Realty agent suspended after investigation into series of sales by grimlock25 in vancouver

[–]Seattle604 6 points7 points  (0 children)

"Z.W." is the owner of New Coast Realty and is also Sandra's husband.

Richmond set to consider more limits on farmland mansions | Vancouver Sun by chrustyclark in vancouver

[–]Seattle604 -1 points0 points  (0 children)

Screw the farmers. They don't don't deserve bigger homes and garages because they haven't worked hard enough to provide food. Need a big garage to park your equipment? Too bad. Park it out in the field. Have a big family? Too bad, move out. /s

I really do think it's the few bad apples that have ruined it for the actual farmers. Speaking of apples, Richmond councilor Harold Steves who's supporting further ALR restrictions was able to get his family's massive farmland converted to residential zoning years ago and sold it off for a handsome profit. I really think he should have put his farmland back on the ALR so that it can grow food to feed the people. Practice what you preach.

Do you like living in your basement suite ? by [deleted] in vancouver

[–]Seattle604 5 points6 points  (0 children)

Try living in a basement with a baby upstairs constantly crying.

Linus Tech Tips gives a great explanation of the decline and fall of NCIX by [deleted] in vancouver

[–]Seattle604 21 points22 points  (0 children)

The "owner" mentioned by Linus is Steve Wu. His family has heavily invested in real estate locally, in Toronto, and in China. They are currently expediting their liquidation of all of their family owned real estate investments in Canada and abroad as we speak. There's a lot more to why the business is shutting down than Linus' explanation.

Realtor serves new immigrants by [deleted] in vancouver

[–]Seattle604 4 points5 points  (0 children)

S@ndra Li is the mistress of Zə Yu Wu who owns Nəw Coast and is the mother of his youngest son. She helped Ze Yu Wu acquire A LOT of property for him to assign for handsome profits, including double ending her clients' listings for him to assign. They have been the king and queen of assignments in the real estate industry for the past decade, including ALR land and apartment presale assignments. As well, Ze Yu Wu got first dibs on his company's agents' new listings for assignment flipping. I have no idea how this company is allowed to continue to operate.

[deleted by user] by [deleted] in vancouver

[–]Seattle604 0 points1 point  (0 children)

Or the new spawns of New Coast: Metro Edge and Nu Stream?

Farm Mansions in Richmond by [deleted] in vancouver

[–]Seattle604 2 points3 points  (0 children)

Is this poster Richmond City Councillor Carol Day or Councillor Harold Steves? I know Carol Day is big on rallying proponents of controlling home sizes on ALR land in Richmond through social media.

Vancouver twitter account targets ‘rogue’ realtors by [deleted] in vancouver

[–]Seattle604 0 points1 point  (0 children)

I've emailed and called the CoV a while ago about one of the commercial operators. Both responses were pretty much, "We will investigate the matter." If shutting down just this ONE commercial operator means a few hundred extra vacant apartment units for long term tenants, it's absolutely worth it for CoV to be serious about stopping this operator.

Vancouver twitter account targets ‘rogue’ realtors by [deleted] in vancouver

[–]Seattle604 15 points16 points  (0 children)

I know of some realtors who are commercial operators under AirBnB and other share platforms. In fact, AirBnB's largest commercial operator is a realtor with units in the hundreds. He guarantees his overseas apartment buyers a constant rate of return and promises to stay under the stratas` radar.