houses are for slaves.
NEW Mortgage rules
Finally, the bubble will burst, and Pedro can come back to the boards after bitching about this for 8 years.
depends where you live in langford on the island houses are selling very fast still and new ones keep going up, In sooke it has slowed down but is not as slow as people think. The houses that are selling are ones that are new homes that are prices right, I have seen 6 houses sell in around me in a month out of 10 for sale. I say that is decent and two lots with new houses that are pre sold already also.
Builder of Little Bastard
Up here in Smithers RE is the highest its ever been for 2 reasons, amenity migrants moving here for lifestyle and people moving here/anticipating the mining boom in the north west as the power line goes up hy 37 but RE is still a very affordable
I went for the longest amortization I could get because its more important to be a ski bum than pay off a 460$ monthly mortgage … there are some things in life that are priceless
List it at a realistic price?
What's a realistic price, though? We originally listed with an asking price $20k below our 2012 tax assessment. At that price, we were the lowest priced duplex unit on the market in Vancouver west of Cambie St. We've since dropped a further $35k off the ask and are still the lowest price in the area.
Kn.
When one person suffers from a delusion, it is called insanity.
When many people suffer from a delusion, it is called religion.
What's a realistic price, though? We originally listed with an asking price $20k below our 2012 tax assessment. At that price, we were the lowest priced duplex unit on the market in Vancouver west of Cambie St. We've since dropped a further $35k off the ask and are still the lowest price in the area.
Kn.
The house must have shitty feng shui. Did you experience sporadic devil infestations?
I had always thought our wall of trapped souls was more like a carnival attraction than a negative thing.
Attached unit has a very traditional older chinese couple that have lived there for 20+ years. Feng shui can't be all THAT bad, IMO.
Kn.
When one person suffers from a delusion, it is called insanity.
When many people suffer from a delusion, it is called religion.
What's a realistic price, though? We originally listed with an asking price $20k below our 2012 tax assessment. At that price, we were the lowest priced duplex unit on the market in Vancouver west of Cambie St. We've since dropped a further $35k off the ask and are still the lowest price in the area.
Kn.
if your price was realistic your house would already be sold, I could be wrong but maybe you are hanging on to belief in a value that was in a falling market?
An acquaintances father believed is place in lichmond was worth 750K but when they tried to sell it after he died … they got somewhere around 500K
IMO shits going down in value with new mortgage rules but maybe you still got time to sell before july 9th if you slash price?
But you've completely missed the point. The point is, that there is virtually no way (esp under current market conditions) to determine what "realistic" is. The market has changed so dramatically and quickly that there is simply no reference point. I could change the listing price tomorrow to 5 1/2 bucks and that would be realistic under your definition since it will sell immediately. There is a price that some person is willing to pay, if I list for less, I've left money on the table.
As a seller, I want to sell quickly but get the most the market will give me. There is no way to find that number except to list a price and see what the reaction is. Are you suggesting that I should drop the price weekly like a consignment store? That will just encourage buyers to wait until I hit the basement.
Kn.
When one person suffers from a delusion, it is called insanity.
When many people suffer from a delusion, it is called religion.
I could be wrong but maybe you are hanging on to belief in a value that was in a falling market?
I know more about determining the market value of "stuff" than most laymen and bear no false image of the value of the home. In fact, I have no imagined value. I'm not stupid, just want to get the best price I can.
Kn.
When one person suffers from a delusion, it is called insanity.
When many people suffer from a delusion, it is called religion.
Realistic is probably not the correct word to use in any conversation about Vancover RE, I am not saying you are stupid but IME "realistic price" = "sold RE" … what other yardstick is there ?
"""As a seller, I want to sell quickly but get the most the market will give me. There is no way to find that number except to list a price and see what the reaction is. Are you suggesting that I should drop the price weekly like a consignment store? That will just encourage buyers to wait until I hit the basement """
http://en.wikipedia.org/wiki/Dutch_auction
AKA the dutch auction where the buyer that waits might hit that "basement figure" OR at some point is afraid they might miss the sale to someone else who wants it more and so they make an offer …do you want to find out how much the place is worth or do you want to sell it?
that scenario did work up here recently for a guy with a B[HTML_REMOVED]B, he desperately wanted out of smithers to go south, the place was listed forever, buddy dropped the $ 100K and then put up a sign on the MLS agents sign "price drops 1000$ every week"
when I sold out of Van the agent told me to offer a 1000$ bill to the agent who brings me the sale and I will have every agent in the area showing my place, except if she sells it I don't have to give 1000$, fortunately she sold it and it didnt cost me the extra 1K … another marketing ploy to consider
when I sold out of Van the agent told me to offer a 1000$ bill to the agent who brings me the sale and I will have every agent in the area showing my place, except if she sells it I don't have to give 1000$, fortunately she sold it and it didnt cost me the extra 1K … another marketing ploy to consider
we had an agent try that. They offered a $2500 realtor bonus on the sale. There was a couple of days of flurried interest but in the end it doesn't matter how much the realtor pushes their client to buy, if it's not priced at market value it won't sell. We ended up getting a new realtor, realistic market price and it sold in a week after being on the market for 4 months with the previous realtor.
Market value = what someone is willing to pay.
That will just encourage buyers to wait until I hit the basement.
Out of curiosity, how are you determining your basement? I've had to do this with multiple homes in less than ideal conditions, but I think it would be different math in Vancouver.
we had an agent try that. They offered a $2500 realtor bonus on the sale. There was a couple of days of flurried interest but in the end it doesn't matter how much the realtor pushes their client to buy, if it's not priced at market value it won't sell. We ended up getting a new realtor, realistic market price and it sold in a week after being on the market for 4 months with the previous realtor.
Market value = what someone is willing to pay.
well that ploy worked to bring in lots of buyers until all the agents have brought in their buyers BUT obviously you were asking too much, my agent told me "I can get you this much money and it will take you this much time to sell" her time line was correct and she was within a K or 2 on selling price
I totally agree the market value = what ever you got in the bank after closing BUT IME there is a gut level mother hood issue when it comes to how much someone will think their house is worth
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