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!



    Hard not to laugh at bears right now...

  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.

  3. So the Okanagon (and the rest of the interior) is in full melt-down mode.
    "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.
    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?

  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!

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

  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:

    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.