I'm not here to educate anyone;do your own research and you too can have an opinion. Most of the information people get on real estate is from those who sell it; understand where the information is coming from and look further to get a balanced view.
Economic downturn has started
- Thread starter kickback
- Start date
kickback in
Welcome back...I'm planning a purchase, and don't want to overpay... :nod:
Hope you held off on buying...this market is falling and prices will keep coming down for years (3-7). Shame that all those young sheep have been buying these shoe box condos; they're getting screwed the most. What is they say? 'Can't rent, that's for losers'. Looks like the losers now are the ones paying the condo fees, taxes and watching their so called investment lose equity each month.
Wow, kickback, this is great news for those who haven't bought yet. Like many others, I keep asking myself, 'who is going to be buying all the units in these hundreds of new buildings that are going up virtually everywhere in the Lower Mainland?
I don't know about that, there look to be quite a few $350 to $400 per hour SPs around.Looks like $250 is the new $350. Rates have dropped and the value is getting better here in Vancouver if you're looking for high end providers. Got to love supply and demand that pushes prices down when you're a consumer with a need
Vancouver real estate improving.
http://www.vancouversun.com/busines...+resale+market+makes+gains/8586743/story.html
http://www.vancouversun.com/busines...+resale+market+makes+gains/8586743/story.html
Did you know that real estate agents have a contractual obligation to get the seller the most possible money for the sale of their real estate? This article you have posted to show that real estate is stable carries only the opinions of real estate agents. Post something from an economist or someone with financial literacy to show you're not just one of the sheep being led to the slaughter
They are still out there in the $350-$400 range but a little research and you'll see lots of SPs who have lowered their prices over the past 6 months. Disposable income is getting scarce; money in this city is tied up in real estate that people can't afford.
I don't know about lowered their price, there are a few that upped their rates and then lowered them. A few more that look like they rebranded and then started running specials.
Perhaps you could give some examples of the ones that you are saying lowered their rates from $350 to $250? I don't remember anyone in that category?
No, the article states statistics from the REBGV, it's based on actual sales and the price it sold for. Many properties are going into multiple offers. Bottom line is, not the realtor or the seller determine what a property sells for, that is determined by the buyer and the market.Did you know that real estate agents have a contractual obligation to get the seller the most possible money for the sale of their real estate? This article you have posted to show that real estate is stable carries only the opinions of real estate agents. Post something from an economist or someone with financial literacy to show you're not just one of the sheep being led to the slaughter
the Conference Board noted the average selling price of a Metro Vancouver residential property rose by 4.8 per cent in the past year to $744,712. The average Fraser Valley price rose by two per cent to $486,072.
http://www.conferenceboard.ca/about-cboc/default.aspx
They are using the REBGV stats that use a fictitious HPI. Go to their site and have a look at how the number is calculated. Here's a link for you:
http://www.rebgv.org/sites/default/files/HPI Methodology2012.pdf
If you understand the equation then you're a genius.
Better yet, talk to people with homes and condos for sale and ask them how often they've lower the price if it's still for sale. This market is tanking and everyone is being fed a load crap from the real estate pumpers who are the only industry still advertising in the papers that report everything is rosy.
I don't notice too many "high end providers" offering 15 minute rates, or did you mean in general?
