FVREB alters inventory count for May
Thanks to Gadwin who sent this info in: The FVREB statistics package for May 2008 has been released, you can get the PDF here. With the huge listings increase we’ve seen in Vancouver you’d expect the Fraser Valley to see a fair increase in inventory as well right?
Nope. Total FVREB listings for April 2008 was 11,111. At the end of May that grew to a total of 11,133. Thats a total monthly inventory increase of only 22 listings and a big difference from the monthly increase of over 2000 units in Greater Vancouver. They must be selling like hotcakes out in the Fraser Valley!
…well not exactly.
Apparently they just changed the way the total inventory is counted. Its all explained in this small footnote found at the bottom of page 3 of the above linked PDF:
Footnote: * As of May 2008, an adjustment was made to our active listings calculation to ensure it captures only Fraser Valley listings. Previous calculations inadvertantly included Fraser Valley member listings in other Board jurisdictions. As active listings are a constantly moving target, we are unable to generate revised active listings for previous reporting periods.
Too bad their system doesn’t keep track of historical active listings data, that would make the revision of the old numbers a snap. I guess we’ll only have apples to apples comparison for Fraser Valley inventory going forward.
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June 5th, 2008 at 6:58 pm
Drachen: Thanks for the concern, and normally I’d agree…but you know, life happens. This is not an investment per-se, but more a matter of needing a place to live, where renting would be problematic. At least we settled on a nice place in Pitt Meadows, where the price seemed within the realm of sanity, a little closer to what the fundamentals would indicate.
It’ll be a helluva commute to downtown every day, but at least the mortgage won’t completely kill us.
June 5th, 2008 at 5:45 pm
strataman: ozzie keeps it simple, i don’t think he’s too big on predictions, etc. a lot of “there are no good or bad markets, only good or bad deals”, “cashflow”, “inflation hedge”, typical real estate investing stuff. he is more bearish than people may realize, he did say years ago he wouldn’t touch downtown condos with a ten foot pole.
June 5th, 2008 at 5:18 pm
“b-paul is assuming his audience here knows fuck all about ozzie jurock” Really? I like Ozzie! doesn’t mean I worship him,Paul is basically right take a look at Ozzies MSM comments especially in the last few months …no pre-emptive warnings in THAT media that buying now is dangerous..doesn’t have to say “bad” just alert people to the fact that they better know their sh***. Paul did never said don’t buy, but said in subtle ways “think a bit” don’t follow like a frickin lemming come up with a real reason why (for example)we won’t follow the states not some blather! Make it work if you buy here are the stats do with them what you will…which brings me to a VERY pertinent point…OZZIE has a hell of a lot more resources then PAUL so why wasn’t HE bringing us the stats and saying do what you think is best? Huh? Where the F**** were the RESPECTABLE BIG NAME REALITORS? WHERE??
June 5th, 2008 at 5:04 pm
7
dingus Says:
Cheif:
“I” before “e” except after “c”, big guy.
Dingus remember something SATV thinks that means AFTER C any where even six paragraphs away!
SATV I Before E IF THE LETTER RIGHT BEFORE IS NOT C THAT’S RIGHT NEXT TO IT ON THE LEFT>>>RIGHT? 
June 5th, 2008 at 4:52 pm
sidelines: thanks for trying to understand my post.
strataman: ozzie seminars? nah, not interested in condos in prince rupert!
dingus: indeed the word assclown has probably run its course.
mold city and similar: glad you took an interest in my post but lets focus on the original subject. paul’s ozzie comment can only be explained with two possibilities:
a-paul knows fuck all about ozzie jurock or
b-paul is assuming his audience here knows fuck all about ozzie jurock.
paul appears to have a good work ethic and does his homework. he would be a good agent. the comment he made wouldn’t help his cause. i called him on it, he would probably agree in hindsight. assclowns that are trying to construe anything different out of my post either don’t know fuck all about ozzie jurock and/or didn’t see the global news piece.
June 5th, 2008 at 3:52 pm
You’re buying a house??? This is like THE peak. At no other time would you have been worse off purchasing than RIGHT NOW.
Unless you won millions in the lottery and just don’t care that you’re throwing money away there is no reason to buy now.
June 5th, 2008 at 2:41 pm
It is “some kinda batshit nuts”, but possibly getting better. Even if the prices are still outta whack, at least movement is slowing down to the point where “bidding wars” are less common, you actually have time to do some research on a property you’re putting an offer in on, and you can find some haggle room. A couple of years ago, it was “subjects? what subjects? Either you’re gonna buy it outright today, or one of the half-dozen other people standing outside will.”
Now it’s getting a little more like a normal market, where people are being more cautious on both sides.
(I’m buying a house this week, so I’ve been steeped in the local market for the last several weeks)
June 5th, 2008 at 12:15 pm
“dingu thats my name i am not chief mini…..”
Well thanks for the authentic handcrafted gibberish.
Anyhoo, what does everyone think of housing, is it some kinda batshit nuts, or what! (Discuss)
June 5th, 2008 at 11:43 am
>“I” before “e” except after “c”, big guy.
Heh, maybe he meant to spell it as “Chef” without the i
June 5th, 2008 at 11:20 am
dingu thats my name i am not chief mini…..
June 5th, 2008 at 11:15 am
Cheif:
“I” before “e” except after “c”, big guy.
June 5th, 2008 at 10:50 am
Oh right I forgot, Vancouver, through an odd quirk of geography happens to be the only place on earth where the economy and the real estate do not depend on even our closest neighbours.
Weren’t you the one who posted something about commercial real estate in New Delhi? SATV/Thumbsup/Krrish/Cheif. Are you done switching handles yet? You know we’ll always figure out it’s you within a post or two because you’re just that predictable.
By the way I like how you can’t even spell your new handle correctly. She-if
June 5th, 2008 at 10:22 am
“another posting from the cut n paste pseudo-analyst”
did you talk to the pope?spoke to him about your concern about vancouver? you sitting in the denial to angry stage you don’t like to see the numbers if they are UP or try your best ask your friends to hold your forehead http://www.realtylink.org/hpi/.....YPE=buyers
I think we are vancouverites but stats were a post for fraser velley
June 5th, 2008 at 10:07 am
another posting from the cut n paste pseudo-analyst satv…
hey… we missed you man!
June 5th, 2008 at 9:53 am
“He is probably bitter the market has turned and is bitter at Paulb because of it”
Detached $771,321 in April to $771,250 in May.
Attached rose from $477,900 in April to $478,931.
Apartments rose from $389,070 in April to $389,668.
“>sitting in the denial to angry stage I would imagine!”-Spit on Gadwin.
June 5th, 2008 at 9:47 am
Is Cheif the new SATV?
No, Cheif is the old SATV.
of course most real estate agents are bullish or neutral
So you’re suggesting that realtors never look at market fundamentals or adjust their outlook based on whats currently happening? A realtor should only blindly believe that buying real estate at any price is a fantastic idea?
If a realtor believes the local market is overpriced do you think they should quit and go into a whole new line of work? Do you agree with every aspect of the industry you work in or are you being hypocritical?
June 5th, 2008 at 9:24 am
>Strataman Says:
>Stagnate paid for a lot of seminars at Ozzie’s, probably
>sitting in the denial to angry stage I would imagine!
No doubt! He is probably bitter the market has turned and is bitter at Paulb because of it, LOL