2679 replies to this topic

[tjv]

^that's a big increase, do you know what it was purchased for

[tiger11]

^that's a big increase, do you know what it was purchased for

tjv, per tax records the unit sold for $179,900 in December 2016 (likely a few months earlier since tax records are delayed) 

 

Just joined the board here and have been reading for many years!

[Szeven]

tjv, per tax records the unit sold for $179,900 in December 2016 (likely a few months earlier since tax records are delayed)

Just joined the board here and have been reading for many years!

That's the original sale price. The unit has not been sold again since purchase.

Some units there show the original sale price on the bc assessment website and some don't. Not sure why or how that works.

Edited by Szeven, 01 January 2018 - 08:52 PM.

[tjv]

tjv, per tax records the unit sold for $179,900 in December 2016 (likely a few months earlier since tax records are delayed) 

 

Just joined the board here and have been reading for many years!

Something isn't adding up, by that assessment the value of the property has increased 81.6% in only 6 months

[VicHockeyFan]

101-456 Pandora:  $326,700 368 sq. ft.

102 261,800 296

103 312,900 353

104 261,500 295

105 315,000 354

106 261,800 296

107 312,900 353

108 261,500

109 312,900

110 261,800

111 314,600

Edited by VicHockeyFan, 02 January 2018 - 12:27 PM.

[tiger11]

Something isn't adding up, by that assessment the value of the property has increased 81.6% in only 6 months

BC assessment uses mass appraisal techniques to value property.  As mentioned in the Citified article it is very unlikely to represent the "true value" of any property. Assessed values are irrelevant as long as they are proportionally right as they are used for taxation purposes (mill rate)

 

I cant seem to exactly recall the timing of the Janion pre sales; however, it seems the sales cleared around a time when the market was experiencing significant upswings.  Therefore, the sale date likely was negotiated in a softer market as well as the additional discount for being a presale. Janion units have been consistently reselling at an average of $1000 psf in the Janionin  2017.  Compare this to the unit discussed above which sold at roughly $500 psf.

 

The Janion has undoubtedly experienced some of the greatest appreciation since inceptions of buildings in Victoria! 

[tjv]

Not disputing that BC Assessment values are low.  If I was selling my house and someone wanted to bring up my BC Assessment I would end negotiations on the spot without any hestitation

 

Good point that Janion did actually sell 2 years or so before completion so the doubling in price is over 2.5 years, not 6 months....The big question is are salaries keeping pace, I have to assume Janion is no different that other condos downtown

[VicHockeyFan]

My salary has doubled over the past 6 months, so yes, keeping pace.

[tjv]

^damn, I think everyone here wants to know where you work

[sdwright.vic]

^True that

[Nparker]

He could tell us, but then he'd have to kill us.

(I assume hired guns are well-paid)

[lanforod]

Someone started paying him under the table to keep certain stories under wraps....

[Nparker]

Someone started paying him under the table to keep certain stories under wraps....

At least until October 21, 2018.

[LJ]

And he is up  to $2 now, not bad.

[Bingo]

My salary has doubled over the past 6 months, so yes, keeping pace.

 

Same for me, so I have cut my number of posting by 36%

[Bingo]

Janion Jazz

 

 

 

 

 

[Nparker]

Now if only the Northern Junk (2012 version) was adjacent to this for comparison.

[JanionGuy]

Hey i heard today that NUBO is one of the new tenants in the commercial section of the Janion. 

[jonny]

Ooooooh, that'd be cool. They seem to have outgrown their current space. 

[Jackerbie]

The other tenant will be Tout de Sweet, a candy maker from Fairfield. Sign permit was filed with the City last week.