tag:blogger.com,1999:blog-7123542260692860177.post5938013796731041553..comments2023-12-02T00:38:46.467-08:00Comments on House Hunt Victoria: Sept 23 Market UpdateHouseHuntVictoriahttp://www.blogger.com/profile/07456914359088891317noreply@blogger.comBlogger173125tag:blogger.com,1999:blog-7123542260692860177.post-31676079724573630022013-09-30T14:15:01.624-07:002013-09-30T14:15:01.624-07:00"Good traffic at open houses this weekend des..."Good traffic at open houses this weekend despite the rain."<br /><br />So you say. <br /><br />The big picture is that sales so far this year have been extremely weak.<br /><br />Total SFH sales so far this year are on pace to equal 2012's total which was the lowest since 1982 (without population adjustment).<br /><br />The recent (temporary) buying rush by the rate hold crowd has prevented 2013 sales totals from being a lot worse than that.<br /><br />infohttps://www.blogger.com/profile/02848148105386213925noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-15059000143169752962013-09-30T12:29:24.758-07:002013-09-30T12:29:24.758-07:00But what I meant was that 70% of the listed proper...<i>But what I meant was that 70% of the listed property by total value has an mean price of $904K. I think that makes sense. </i><br /><br />But the whole reason to use means in the first place as opposed to averages is to eliminate the "total value" from the equation. By reintroducing it, then talking of the mean, I think you're mixing measures.Fiduciaryhttps://www.blogger.com/profile/10657843466561214005noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-88900440667800366822013-09-30T11:36:55.094-07:002013-09-30T11:36:55.094-07:00Then you said 70% list for over 550 with an averag...<i>Then you said 70% list for over 550 with an average price of 904. I don't see how both can be correct.</i><br /><br />You may be right! I guess 70% was a typo. Should have said 50%.CShttps://www.blogger.com/profile/03399620869685840906noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-81539072095408893442013-09-30T11:36:32.487-07:002013-09-30T11:36:32.487-07:00But if so, the numbers suggest a mean price of aro...But if so, the numbers suggest a mean price of around $750, which is too high. <br /><br />The explanation for that discrepancy, though, may be as I mentioned above; namely, that upper end houses are more likely than lower end houses to be relisted or removed from market without sale.CShttps://www.blogger.com/profile/03399620869685840906noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-22979244445935582282013-09-30T11:32:57.673-07:002013-09-30T11:32:57.673-07:00But what I meant was that 70% of the listed proper...But what I meant was that 70% of the listed property by total value has an mean price of $904K. I think that makes sense. <br /><br />Come to think of it, it was probably what I meant to say.CShttps://www.blogger.com/profile/03399620869685840906noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-57086930670345706862013-09-30T11:30:35.179-07:002013-09-30T11:30:35.179-07:00Then you said 70% list for over 550 with an averag...<i>Then you said 70% list for over 550 with an average price of 904. I don't see how both can be correct.</i><br /><br />You may be right! I guess 70% was a typo. Should have said 50%.CShttps://www.blogger.com/profile/03399620869685840906noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-6465133095282518832013-09-30T11:12:24.914-07:002013-09-30T11:12:24.914-07:00Obviously staging works. Obviously staging works. dasmohttps://www.blogger.com/profile/14638226799679794103noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-70878460640020180842013-09-30T09:10:25.272-07:002013-09-30T09:10:25.272-07:0050 Howe
That painting really ties the room togeth...50 Howe<br /><br />That <a href="http://s3.amazonaws.com/mrp-listings/9/4/0/31833049/213e0a69f0c5edc82241d9113e71b17f.jpeg" rel="nofollow">painting</a> really ties the room together.koozdrahttps://www.blogger.com/profile/16879691936698695299noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-27629383369614526602013-09-30T08:55:21.117-07:002013-09-30T08:55:21.117-07:00Here's before and some after picson 50 Howe St...<a href="http://bavington.ca/mylistings.html/details-27069798" rel="nofollow">Here's before</a> and some <a href="http://bavington.ca/mylistings.html/details-31833049" rel="nofollow">after pics</a>on 50 Howe St. They did a great job on it.Philhttps://www.blogger.com/profile/00550264432110709714noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-3537538916327788652013-09-30T08:36:42.697-07:002013-09-30T08:36:42.697-07:00This comment has been removed by the author.Philhttps://www.blogger.com/profile/00550264432110709714noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-60674061158608959252013-09-30T08:04:26.877-07:002013-09-30T08:04:26.877-07:00Probs another 25 sales today and 50 new listings.Probs another 25 sales today and 50 new listings.Markohttps://www.blogger.com/profile/08315282480144281935noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-33144149742018468652013-09-30T08:03:49.124-07:002013-09-30T08:03:49.124-07:00Monday, September 30, 2013 8:00am
MTD September
...Monday, September 30, 2013 8:00am<br /><br />MTD September<br /><br />2013 2012 <br />Net Unconditional Sales: 456 419 <br />New Listings: 1,073 1,210 <br />Active Listings: 4,565 5,025 <br /><br />Please Note<br />•Left Column: stats so far this month<br />•Right Column: stats for the entire month from last yearMarkohttps://www.blogger.com/profile/08315282480144281935noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-10027633816948584442013-09-30T08:03:08.400-07:002013-09-30T08:03:08.400-07:00This comment has been removed by the author.Unknownhttps://www.blogger.com/profile/16685399623989680203noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-7112911550212124662013-09-29T23:01:15.181-07:002013-09-29T23:01:15.181-07:00Of course I don't know how much. I'm estim...Of course I don't know how much. I'm estimating having looked at the house myself and choosing not to buy. I thought 690k was too much :-) (That's what the realtor told me the bottom line was). The original asking price of 830k was a pipe dream not chasing the market down. They didn't do much to the upper floors. Exact same kitchen. They suited the basement but already had a bathroom down there. Front porch windows done, bottom windows, new roof, new paint. They were done in about three months. A blue collar flip I think. Anyway, I was curious because when I saw it was a flip I was surprised and was curious what would happen. Well it sold fast in the high 8's that's what happened. dasmohttps://www.blogger.com/profile/14638226799679794103noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-50681783607392421802013-09-29T21:58:58.624-07:002013-09-29T21:58:58.624-07:00It's hard enough to make money flipping in an ...It's hard enough to make money flipping in an up market.Philhttps://www.blogger.com/profile/00550264432110709714noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-56956043215424880752013-09-29T21:56:06.346-07:002013-09-29T21:56:06.346-07:00I know they bought it for around 690k 2011 ish and...<i>I know they bought it for around 690k 2011 ish and maybe put 70k into it?</i><br /><br />You "know--around--ish and maybe put" do you? <br /><br />I know one thing. They put a whooole lot more than 70k into it. <br />They might not have lost money, dependign whether you include flipping wages and transaction costs as did get it for a good price at the time. The previous owner chased the market down I think it was from 830k to 695, through the latter half of 2011. Prices did fall hard in late 2011.<br />Philhttps://www.blogger.com/profile/00550264432110709714noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-43904765919709049722013-09-29T21:25:28.528-07:002013-09-29T21:25:28.528-07:00Well, it could be wrong, but I don't see how.
...<i>Well, it could be wrong, but I don't see how.</i><br /><br />You said a similar number list for over and under 550k. That would be about 50% for each segment. Then you said 70% list for over 550 with an average price of 904. I don't see how both can be correct.Leo Shttps://www.blogger.com/profile/02951281972056927807noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-21317095722565016172013-09-29T20:15:01.123-07:002013-09-29T20:15:01.123-07:003742 Heron St
Can't find such address.<i>3742 Heron St</i><br /><br />Can't find such address.Markohttps://www.blogger.com/profile/08315282480144281935noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-13382562372078697232013-09-29T20:13:13.733-07:002013-09-29T20:13:13.733-07:00Well that sold quick! List was 888k. Marko did it ...<i>Well that sold quick! List was 888k. Marko did it sell for that?</i><br /><br />862kMarkohttps://www.blogger.com/profile/08315282480144281935noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-43743382869992009492013-09-29T16:43:29.176-07:002013-09-29T16:43:29.176-07:00I'd be glad if anyone (Marko?) would be kind e...I'd be glad if anyone (Marko?) would be kind enough to indicate whether 3742 Heron St has sold recently (a private sale possibly) and if so at what price.CShttps://www.blogger.com/profile/03399620869685840906noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-71337018994242278232013-09-29T15:08:57.659-07:002013-09-29T15:08:57.659-07:00Remember earlier when I brought up the 50 Howe st ...Remember earlier when I brought up the 50 Howe st flip as a test of the market. Well that sold quick! List was 888k. Marko did it sell for that? I know they bought it for around 690k 2011 ish and maybe put 70k into it? dasmohttps://www.blogger.com/profile/14638226799679794103noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-84833436444497707112013-09-29T15:01:23.176-07:002013-09-29T15:01:23.176-07:00If we had to pay in time, I believe none of us wou...If we had to pay in time, I believe none of us would choose to lose 12 years of our lives just to live in a City. That's were the "overvaluation" occurs when money is cheap but time is not. <br /><br />Because 12 years is just as valuable to the Sultan of Bahrain as it is to the janitor at Wallmart. But $200,000 isn't.<br /><br />Even if you considered the 500 hours of annual commuting as a loss - which it isn't. Then that is less than a year of commuting time in total. I think you can start to sense how we are "overvaluing" the market if we were willing to die 12 years early to save commuting on a bus for one year. It's irrational.Johnny-Dollarhttps://www.blogger.com/profile/12950799399842707067noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-23365103969125425092013-09-29T15:01:22.286-07:002013-09-29T15:01:22.286-07:00Ha ha true CS commute time from sooke over 13 year...Ha ha true CS commute time from sooke over 13 years is about two years so that's 15 years plus the year to earn the gas money for driving over the 13 years. So it's more like comparing 25 years to live in the core vs 16 years to live in sooke.dasmohttps://www.blogger.com/profile/14638226799679794103noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-66157940465753955762013-09-29T14:26:42.726-07:002013-09-29T14:26:42.726-07:00Good traffic at open houses this weekend despite t...Good traffic at open houses this weekend despite the rain.Markohttps://www.blogger.com/profile/08315282480144281935noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-63307449732996455372013-09-29T14:08:02.461-07:002013-09-29T14:08:02.461-07:00What value would you put on having another 12 year...<i> What value would you put on having another 12 years to live?</i><br /><br />Not much, if you have to spend most of those 12 years either commuting between Sooke and Victoria, or earning the money necessary to pay for commuting between Sooke and Victoria. <br /><br />But if you can find a way to earn a living in Sooke, then Sooke would surely seem the better value to many people.CShttps://www.blogger.com/profile/03399620869685840906noreply@blogger.com