tag:blogger.com,1999:blog-7123542260692860177.post5857891291993818361..comments2023-12-02T00:38:46.467-08:00Comments on House Hunt Victoria: VREB's best fail yetHouseHuntVictoriahttp://www.blogger.com/profile/07456914359088891317noreply@blogger.comBlogger225125tag:blogger.com,1999:blog-7123542260692860177.post-32171199174463456152012-10-11T07:55:42.410-07:002012-10-11T07:55:42.410-07:00I love that Ron addresses my pet peeve - the %age ...I love that Ron addresses my pet peeve - the %age of asking stat - that and the average DOM. he says the average DOM is more like 180 and houses selling closer to 85% of asking.a simple manhttps://www.blogger.com/profile/13054677016369304449noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-118735584668911612012-10-10T21:52:13.269-07:002012-10-10T21:52:13.269-07:00It's refreshing to see a high profile local re...It's refreshing to see a high profile local realtor like Ron Neal speak the truth about the misleading statistics used by the VREB.<br /><br />I think Ron Neal would agree with me that this quote could equally be applied to the VREB:<br /><br />"He (VREB) uses statistics as a drunken man uses lamp posts; for support rather than illumination." -Andrew Lang<br /><br />LeoMhttps://www.blogger.com/profile/13407650823511000293noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-86302872751787446772012-10-10T20:28:02.336-07:002012-10-10T20:28:02.336-07:00"Housing prices have doubled across Canada ov..."Housing prices have doubled across Canada over the last 10 years, despite broadly-flat wages. While higher prices in markets such as Calgary, Edmonton or Fort McMurray could, perhaps, be explained by an influx of workers tied to the energy industry (and a shortage of housing in place), it's harder to explain why housing prices in Toronto and Vancouver should be about three and four times higher than average prices in the United States and more than double their historical average price ratios."<br /><br /><a href="http://www.theglobeandmail.com/globe-investor/personal-finance/mortgages/is-canada-immune-from-a-housing-bubble/article4585963/" rel="nofollow">http://www.theglobeandmail.com/globe-investor/personal-finance/mortgages/is-canada-immune-from-a-housing-bubble/article4585963/</a>koozdrahttps://www.blogger.com/profile/16879691936698695299noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-28534330544004878722012-10-10T19:54:08.619-07:002012-10-10T19:54:08.619-07:00Documents obtained by The Globe and Mail detailing...Documents obtained by The Globe and Mail detailing confidential statements from banks, appraisers and mortgage insurers show rising worry over the use of a database operated by the Canada Mortgage and Housing Corporation (CMHC). The documents suggest the data are flawed and help push home prices up.<br /><br />...<br /><br />Because the database does not evaluate a specific property, but uses generalities to determine the risk level of a mortgage, “CMHC insured loans are often granted without truly taking into account the property’s market value,” the respondent says. “This poses a real danger of altering housing market data.”<br /><br /><br /><br /><br /><a href="http://www.theglobeandmail.com/report-on-business/potentially-flawed-data-used-by-banks-and-lenders-bump-up-house-prices/article4603237/?cmpid=rss1" rel="nofollow">http://www.theglobeandmail.com/report-on-business/potentially-flawed-data-used-by-banks-and-lenders-bump-up-house-prices/article4603237/?cmpid=rss1</a>koozdrahttps://www.blogger.com/profile/16879691936698695299noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-90411070488987514922012-10-10T18:58:25.480-07:002012-10-10T18:58:25.480-07:00Stopped by Garth Turner's blog tonight. The Vi...Stopped by Garth Turner's blog tonight. The Victoria market was being featured. Carol Crabb and Ron Neal got national exposure.<br /><br /><a href="http://www.greaterfool.ca/2012/10/10/rebel-rebel/" rel="nofollow">Greater Fool Blog</a>Rogerhttps://www.blogger.com/profile/08266466833259484873noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-21203695773411004762012-10-10T18:18:23.721-07:002012-10-10T18:18:23.721-07:00I like Marko's philosophy.
http://www.youtube...I like Marko's philosophy.<br /><br /><a href="http://www.youtube.com/watch?v=dLa2vlTY-nY&feature=plcp" rel="nofollow">http://www.youtube.com/watch?v=dLa2vlTY-nY&feature=plcp</a>koozdrahttps://www.blogger.com/profile/16879691936698695299noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-13895545457385206012012-10-10T17:40:51.390-07:002012-10-10T17:40:51.390-07:00and it begins.
Kudos to Ron Neal and the Neal est...and it begins.<br /><br />Kudos to Ron Neal and the Neal estate team, as well as Marko, who so often remains silent when people repeated spell his name wrongly as "Marco". Polo.a simple manhttps://www.blogger.com/profile/13054677016369304449noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-65557910876041761992012-10-10T16:55:45.107-07:002012-10-10T16:55:45.107-07:00From time to time I read the posts by a Salt Sprin...From time to time I read the posts by a Salt Spring Island agent Scott Simmons. He calls it as he sees it and is really down on the re-listing "trick". Here is his <a href="http://saltspringrealestateagent.com/pcs-log-in/" rel="nofollow">latest post</a> on overpriced listings.<br /><br /><i>How long will Salt Spring re market stay depressed? ...why are so many Salt Spring homes so bad? Viewed 8 homes today and do not think I would let my dog sleep in any of them. Tear down homes at twice the lot value. My old home in Calgary has a lot value of 1 mil or so if you took out the lot price the structure is worth approx 250k. If a Salt Spring lot is worth 200k why do people think junk homes are worth 250k plus price of lot? This is going to be a long slow winter of so many sellers hanging on to prices that are unattainable in this market. I really have not seen anything like Salt Spring RE. It still shocks me. It is so hard to find the real deals. </i>EagerBuyer(Not)https://www.blogger.com/profile/02849067281638388070noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-27934771482610254712012-10-10T16:45:30.963-07:002012-10-10T16:45:30.963-07:00I would also like to remind my fellow posters that...I would also like to remind my fellow posters that Marko was the first RE agent to break ranks and tell it like it is on TV. He has been on a couple of times and was a real counterbalance to Carol Crabb and the spin machine.<br /><br />Keep it up Marko! Maybe you should have drinks with Ron Neal :>)JustWatchinghttps://www.blogger.com/profile/00376786550350009859noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-60250797494602236572012-10-10T16:26:34.949-07:002012-10-10T16:26:34.949-07:00HHV,
You might want to use this for your next pos...HHV,<br /><br />You might want to use this for your next post....<br /><br />A prominent local real estate agent was on CFAX today and was telling it like it is. I went to his Website <a href="http://victoriarealestateexpertblog.com/2012/10/03/victoria-real-estate-market-at-a-standoff-as-prices-remain-steady/" rel="nofollow">click here</a> and was shocked to see this...<br /><br /><i>Ron’s candid thoughts on today’s market in Victoria:<br /><br />Following is our Victoria Real Estate Board News Release which in my opinion gives a sugar coated outlook of reality. The market is anything but steady with sales numbers down significantly and prices too, driven down buy distressed sellers competing for the few predatory buyers who are seizing the opportunity. Statistics are misleading and the 64 average days on market does not include the prior listings of the same properties or those that have not sold. By my estimate the average days on market is closer to 180 days including just the successful sales. Furthermore, the average sale price reported as 96% of list is based on the final listing price, not reflecting the original price or prior listing attempts. My quick review of the numbers shows more like a 85% of list price on average based on the original asking price.</i><br /><br /><b>Wow! This is quite a slam against VREB and I bet they aren't too happy about it.</b>JustWatchinghttps://www.blogger.com/profile/00376786550350009859noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-68902818489637018922012-10-10T15:35:58.725-07:002012-10-10T15:35:58.725-07:00@DavidL
Interesting find. Thanks for the info.@DavidL<br /><br />Interesting find. Thanks for the info.koozdrahttps://www.blogger.com/profile/16879691936698695299noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-42749458361154813172012-10-10T15:28:31.756-07:002012-10-10T15:28:31.756-07:00@Koozdra
Hmmm ... 517-1400 Lynburne Pl (MLS: 3053...@Koozdra<br /><br />Hmmm ... 517-1400 Lynburne Pl (<a href="http://www.realtor.ca/propertyDetails.aspx?propertyId=12420063&PidKey=110326159" rel="nofollow">MLS: 305340</a>) that you linked to went up for tax sale auction just a few weeks ago: <a href="http://www.cityoflangford.ca/assets/Documents~Library/Notices/Tax%20Sale.pdf" rel="nofollow">http://www.cityoflangford.ca/assets/Documents~Library/Notices/Tax Sale.pdf</a>. I wonder how much it sold for?DavidLhttps://www.blogger.com/profile/00353906360642344879noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-81994463845834791262012-10-10T14:47:10.608-07:002012-10-10T14:47:10.608-07:00"Sacrifice Sale, Never Occupied!!...Take adva..."Sacrifice Sale, Never Occupied!!...Take advantage of this opportunity while confidence is returning & investors are strategizing"<br /><br />Very interesting assessment of our current situation.<br /><br /><a href="http://www.realtor.ca/propertyDetails.aspx?propertyId=12420063&PidKey=110326159" rel="nofollow">http://www.realtor.ca/propertyDetails.aspx?propertyId=12420063&PidKey=110326159</a>koozdrahttps://www.blogger.com/profile/16879691936698695299noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-33168651870790514292012-10-10T14:16:06.620-07:002012-10-10T14:16:06.620-07:00"Don't buy a condo when you can have a to..."Don't buy a condo when you can have a townhouse!"<br /><br /><a href="http://www.realtor.ca/propertyDetails.aspx?propertyId=12473486&PidKey=217320502" rel="nofollow">http://www.realtor.ca/propertyDetails.aspx?propertyId=12473486&PidKey=217320502</a><br /><br /><a href="http://www.realtor.ca/propertyDetails.aspx?propertyId=12473488&PidKey=1191970480" rel="nofollow">http://www.realtor.ca/propertyDetails.aspx?propertyId=12473488&PidKey=1191970480</a><br /><br /><a href="http://www.realtor.ca/propertyDetails.aspx?propertyId=12473487&PidKey=73080091" rel="nofollow">http://www.realtor.ca/propertyDetails.aspx?propertyId=12473487&PidKey=73080091</a>koozdrahttps://www.blogger.com/profile/16879691936698695299noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-35404865667429468362012-10-10T13:26:52.401-07:002012-10-10T13:26:52.401-07:00Stocks never go down.
On another note, could we p...Stocks never go down.<br /><br />On another note, could we please have a new blog post? 200 comments or so ought to be the cut-off.Introverthttps://www.blogger.com/profile/03333045260631104757noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-18892104552637363962012-10-10T12:54:26.229-07:002012-10-10T12:54:26.229-07:00The money it would take to pay off the mortgage an...<i> The money it would take to pay off the mortgage and hence eliminate "45% interest" generates a lot more than $300 after tax based in dividends alone.</i><br /><br />Sure, but you'd do even better if you put all your money into dividend paying stocks and rented. Like me.patriotzhttps://www.blogger.com/profile/11154064267408955762noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-36925874755784902472012-10-10T12:07:19.874-07:002012-10-10T12:07:19.874-07:00Dirty Harry rents.
"The following sequels sh...Dirty Harry rents.<br /><br />"The following sequels show that Harry lives within the city limits in a small studio apartment on Jackson St. in the Nob Hill area."<br /><br /><a href="http://en.wikipedia.org/wiki/Harry_Callahan_(character)" rel="nofollow">http://en.wikipedia.org/wiki/Harry_Callahan_(character)</a>koozdrahttps://www.blogger.com/profile/16879691936698695299noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-83717924687552657182012-10-10T12:03:12.173-07:002012-10-10T12:03:12.173-07:00Vanishing home equity and/or hugely rising interes...Vanishing home equity and/or hugely rising interest rates equals a tightening noose for many people. It is my idea of hell.<br /><br />I watched this happen twice. First to my parents and their generation in the early eighties. Second to my sister and her husband in the States 2.5 years ago.<br /><br />In the first instance it was interest rates and in the second it was vanishing equity.<br /><br />A noose is a noose is a noose. I don't care which method is used to hang me, I don't want anything to do with either one.<br /><br />If I can see the tree in front of me and I can begin to make out the outline of a noose hanging from one of the branches I'm heading the other way.<br /><br />I always ask myself - what would Dirty Harry do? Victoriahttps://www.blogger.com/profile/06789488915221549032noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-36085724666176388222012-10-10T11:48:30.672-07:002012-10-10T11:48:30.672-07:00Why not move to Gordon Head and get help from Intr...Why not move to Gordon Head and get help from Introvert with the repairs.<br /><br /><a href="http://i.imgur.com/kTTHp.png" rel="nofollow">Way under assessment - Only 589K after two price reductions</a>EagerBuyer(Not)https://www.blogger.com/profile/02849067281638388070noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-84055704379268872412012-10-10T11:45:22.691-07:002012-10-10T11:45:22.691-07:00that house is in a strange place in Oak Bay. Over...that house is in a strange place in Oak Bay. Overpriced.<br /><br />I didn't know Hap lived in OB? Maybe we are neighbours!a simple manhttps://www.blogger.com/profile/13054677016369304449noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-69246291433041304312012-10-10T11:36:19.805-07:002012-10-10T11:36:19.805-07:00Lots of Oak Bay lovers on this blog. This could b...Lots of Oak Bay lovers on this blog. This could be your chance to be hap pychucky's neighbour.<br /><br /><a href="http://i.imgur.com/iVGzl.png" rel="nofollow">Bring us an offer, seller is ready to move on!!!</a>EagerBuyer(Not)https://www.blogger.com/profile/02849067281638388070noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-61231645320111799292012-10-10T11:30:31.397-07:002012-10-10T11:30:31.397-07:00Yes, I will get my shopping cart out.Yes, I will get my shopping cart out.Anonymoushttps://www.blogger.com/profile/08188115284116016130noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-31670279408226166792012-10-10T11:24:01.381-07:002012-10-10T11:24:01.381-07:00Totoro Victoria might want to grab this one before...Totoro Victoria might want to grab this one before its gone!<br /><br /><a href="http://i.imgur.com/fViU5.png" rel="nofollow">Foreclosure opportunity with suite</a>EagerBuyer(Not)https://www.blogger.com/profile/02849067281638388070noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-50431704736846787732012-10-10T11:19:50.034-07:002012-10-10T11:19:50.034-07:00Just Jack: You are bang on about the price reduc...Just Jack: You are bang on about the price reductions of older retirement condos having age restrictions. MLS 312891 in the prime Cook Street Village area has just been reduced to $214,500. It was originally listed at $399K. They were dreaming at that price, but six months ago when it first went on the market they might well have gotten $339,000. A pity. Alexandraherehttps://www.blogger.com/profile/13100843258061373047noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-90050921048374144352012-10-10T11:12:50.400-07:002012-10-10T11:12:50.400-07:00Kooz - you are the king/queen of listings. Those ...Kooz - you are the king/queen of listings. Those are some very high prices for a "townhouse".a simple manhttps://www.blogger.com/profile/13054677016369304449noreply@blogger.com