open houses today - Vancouver

[eyesthebye]

xxx

[islanddream]

A lot of activity...that means very little actually. If the mall is busy, does it mean people are necessarily buying?
Prices high as they have ever been? Perhaps the open houses you looked at were severly overpriced as many still aren't getting the message. List prices mean nothing as people will only pay what they think it is worth.

Give your head a shake. Take a look at some stats widely available online.

[Jaggery]

Just came back from looking at housing today - and I mean house, not condo or townhouse. Prices
are every bit as high as they've ever been and lots of activity. All this nonsense about price decreases
is another way of getting buyers out there spending money. If you want a decent house in Vancouver you better
be prepared to spend 6-700,000+

Enough with the jokes already, you're cracking me up!

[Paulb]

I had 2 of the busiest open houses I have ever had a couple months back on a SFH in North Vancouver. 2 price drops and a couple months later we sold under assessed value.
Good foot traffic is of course a good start.

Let's see if Feb's numbers show more tire kickers are buying. Prices are definitly getting more attractive, but I am curious what would make someone feel any sense of urgency to buy asap. On the other hand I can see many reasons for caution.

[freako]

All this nonsense about price decreases
is another way of getting buyers out there spending money. If you want a decent house in Vancouver you better
be prepared to spend 6-700,000+

If you are in a rush maybe, but give me a break. The SFH market has all but died in most areas. Apples for apples prices are back to mid 2006.

[monk]

Just came back from looking at housing today - and I mean house, not condo or townhouse. Prices
are every bit as high as they've ever been and lots of activity. All this nonsense about price decreases
is another way of getting buyers out there spending money. If you want a decent house in Vancouver you better
be prepared to spend 6-700,000+

I'm not bearish, but the comment "prices are every bit as high as they've ever been..." is very far from what's happening out there.

I'm a rancher, i keep the bulls in check and shoot the bears when they try to steal my food.

[eyesthebye]

xxx

[freako]

The crap are dragging the stats down - but you wouldn't live
in one, would you?

You do know what a benchmarked median is, right?

[agraham]

The crap are dragging the stats down - but you wouldn't live in one, would you?

A similar thing is happening with gold. All the good gold is driving the prices up. Meanwhile the bad gold remains as cheap as ever.

[yogurt]

I'm not bearish, but the comment "prices are every bit as high as they've ever been..." is very far from what's happening out there.

That's a polite way of saying it's a lie.

BTW "I'm not bearish" means you think we are at a market bottom right now. Care to restate that or is that what you really think?

[eyesthebye]

xxx

[freako]

Yes, I know what it is. It's another stat that tells you diddley about what is happening out there. You're obviously not in the
market or you'd have a clue

So you are saying the 16% (and counting) drop in REBGV benchmark is a statistical quirk? That would be some quirk. There is only one way to settle this. Apples to apples re-sales. Any realtors want to help set the record straight? I will dig some up in a few, so get ready eyes.

edit: Here is one from paulb (not quite apples to apples but still telling):

Assessed: 1.42M
Orig list: 1.35M
Sold: 850k

This is not uncommon.

[poundcruncher]

Yes, I know what it is. It's another stat that tells you diddley about what is happening out there. You're obviously not in the
market or you'd have a clue

So you are saying the 16% (and counting) drop in REBGV benchmark is a statistical quirk? That would be some quirk. There is only one way to settle this. Apples to apples re-sales. Any realtors want to help set the record straight? I will dig some up in a few, so get ready eyes.

edit: Here is one from paulb (not quite apples to apples but still telling):

Assessed: 1.42M
Orig list: 1.35M
Sold: 850k

This is not uncommon.

I am not a realtor but there was a house on Capital Hill my wife and I were looking at. Beautiful home, quality built. A year ago it was listed for $1.15M and an offer was made (according to the realtor) for full asking but the sellers got cold feet.

Fast forward a year. House sold after being on the market for a second time. Was listed at $1.05M but sold for $860K.

Buddy builds homes in Point Grey. Last year he was buying 33' ft lots for $1.1M. One sold two weeks ago for $823 (w/ view of d/t).

But I guess stats should only refer to the homes the original poster of this thread are looking at and nothing else. Those two sold so the benchmark is not useful.

[westcoastfella]

seriously guys, dumb statements like that can only be troll bait.

[Paulb]

Here is one.

Ambleside home.

sold 1.57M March 08
sold 1M Jan 09