Saturday, October 23, 2010

Whistler Sales up. 9 sales in the week to Oct 17th

But with some hefty price reductions. One sales was 20% off the list price and was the lowest sale for the complex going back to 2003!

I follow
THIS site for Whistler info.

I have never met or spoken to Dave, but he seems like an up-front guy on his blog. Here is a snippet of his last post:

'Next was also renovated 2bed/2bath townhouse in Glacier’s Reach. 16- 4388 Northlands Boulevard sold for $405,000. It was viewed as an real bargain by many Whistler Realtors. It had been listed as high as $669,000 at one time.'


That's a slice of nearly 40% off list price!

Note to OK, Victoria and Vancouver listing agents - if you want to get sales going again- cut the prices. BTW if you are looking to buy in Whistler- get the red pencil out and don't be shy about haggling!

6 comments:

  1. http://agentwill.com/weekly-stats/


    Hard not to laugh at bears right now...

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  2. All the lines are following the seasonal pattern. But the sudden spike in sales last week has oushed the MOI down which is a disappointment for those of us who want sane house prices.

    All it means is there is more at stake when the correction comes- think banks and credit unoins in trouble and Canadian tax-payers going deep into debt to help them out.

    The play-book is South of the border.

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  3. So the Okanagon (and the rest of the interior) is in full melt-down mode. http://tinyurl.com/26malfd
    "Why isn't my home selling?" by a realtor.
    Over supply, low demand, lack of urgency by buyers, no rich foreigners (Albertans this time), move-up, -down or -across buyers trapped underwater in their current house and prices are his reasons.
    The best spin he can put on it is a vapid "The market will come back, it always does…" without a timeline or price point the market will come back from. And that from a realtor!
    Vancouver island same story. Worst sales in 20 years. http://tinyurl.com/27c5vdj
    Fraser Valley in trouble as well.
    Vancouver is holding its collective breath, true enough, but given the history of bubbles that thought they wouldn't pop because "it's different here/this time" I honestly can't see much reason for bulls to be laughing.
    Lots of reasons for bulls to try and pump the market and/or scramble to an exit, yes, but an real laugh?

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  4. Alex

    I like number 7

    7. Price: As a result of the frenzied real estate market a few years back, many sellers purchased their home for a higher price than the market will accept right now. Bottom line, housing prices are still generally too high and there is a definite disconnect between real (or perceived) value to the seller and a home’s actual market value. Homes sell at market value

    What an honest realtor!

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  5. Looks like we may finally get another < 50% list/sale day.

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  6. Nothing to say folks. Lets wait until the end of month numbers come out and see what the tea-leaves say. Meanwhile low listings and higher list sales.

    If I had to guess I would say HPI will be down for condos and up for detached.


    Meanwhile 10 and 30 year yields ticked up:

    http://online.wsj.com/article/BT-CO-20101026-716551.html

    I posted that I expected yields to move up from their lows. I think we may zig-zag our way higher in the next 3 months unless there is another large credit crisis.

    ReplyDelete