Friday, November 2, 2007

Weekend Open Thread

Ms. HHV and I thought with the temperature so low outside, this weekend would be a good one to head over to Vancouver and get in line for the OlympicTM village condos. We figured we'd buy two or three and flip them this time next year so we'll have our down payment for our new Uplands house.

So while we're over in DreamlandTM.... here's your open thread. Please go easy on one another.

If you're a BC blogger or other web-person and you're so inclined, feel free to rip off the BC Real Estate Bear's Alliance logo on the sidebar (just do a right-click, save-as) or send us an e-mail and we'll e-mail the original to you. Reciprocal links are always appreciated.

7 comments:

Anonymous said...

I thought the provincial government trademarked the "spirit bear" and all images depicting "spirit bears" must have the expressed written consent of Gordon Campbell.

Anonymous said...

that's Spirit Bear™ to you

roger said...

HHV left the blog open so I thought the topic of lowballing might be interesting. Perhaps some of the real estate agents that follow this blog might jump into the fray (anonymously of course).

I am going to keep my powder dry until we get a serious correction. But for those that feel this month's average and median price drops and flurry of price reductions is too tempting you might consider this the time for lowballing.

Here's why:

- Sales will be down this month from those in October. December is historically the slowest month of the year and is a good time to lowball - not much in the way of offers.

- There is a lot of inventory out there. Fewer buyers will be going through a given listing. Sellers won't feel that they are sitting on a "hot" property.

- Properties that have been on the market for months and have had one or more price reductions are good candidates for the lowball. Spring is still a long way off.

- Many properties have been listed for 90, 120 or 150 days. If the listing is close to expiry the agent and the seller will be highly motivated. The days on the market is shown on the PCS or available on the listing sheet.

- The recent Times Colonist article on falling median and average price reductions will have had an effect on sellers and agents. Some will recognize that prices have already peaked and the Victoria market is on the way down. Some sellers, particulary flippers, will want out now.

Comments or lowball stories anyone??

Anonymous said...

Article from the Vancouver Sun about CMHC and the Vancouver market.

Wow! Quite the analogy:

"CMHC analyst Robyn Adamache, who used the analogy of an airplane flight to describe Vancouver's position in the market cycle.

"The ride up is always exciting, kind of thrilling, a little scary," she said in an interview.

What is the ride down going to be like? Are people going to be screaming like mad or will it be eerily quiet?

http://www.canada.com/vancouversun/news/business/story.html?id=894e84d8-121b-4f48-8748-4d912aabfed7

S2

roger said...

HHV,

It pays to keep your powder dry. Prices are breaking through the 400K barrier.

listing @ http://tinyurl.com/25afx9

pictures @ http://tinyurl.com/2azn3h

Not suggesting you buy anyting now but interesting to see some decent properties arriving on the market under 400K.

If you save the URL it will keep updating and you can see the sale price.

Anonymous said...

If I could be arsed (and I can't) I might make a lowball offer of 35% off, just to f*ck with seller's minds. Otherwise, in all seriousness I'm not even considering shopping around until about 3 years from today minimum.

greg said...

Solidarity forever, consider the RE Bear image appropriated for good purpose...