A lot of people want to know whats going to happen with Vancouvers red-hot real estate market. Will it keep going up, up and away? Will it level off? Or will demand dry up sending prices plummeting?
Well, before you pick up that phone to dial the psychic friends hotline, you may want to save your $3.95 per minute and just read the signs.
The signs I’m starting to see around vancouver say ‘price reduced‘.
And I just have to ask.. WHAT ARE THEY THINKING?!? Has no one told these people that this is a red-hot market? There is no need for ‘price reduced’ signs. If you are having a problem attracting buyers you need to RAISE your asking price not lower it! This is basic psychology. Higher priced things are more VALUABLE than lower priced things. And besides, how else are we supposed to convince someone that they need to BUY NOW or be forever PRICED OUT of the market?