The Fall

Well, It’s back to school and back to work time.. unless you can cash in a Vancouver property lotto ticket and retire.

Looks like a lot of people have decided its time to try to cash out, yesterday saw a big listing day, Paulb says 356 new listings with only 103 sales.

Inventory posted numbers by area and a lot of places, including west van, burnaby, Vancouver West and white rock saw a sales to list ratio of 25% or lower.

Is this the start of a slow sales autumn or just a post holiday blip? Is it the right time to try to sell, or should you be buying investment properties in hopes of future gains?

Sort by:   newest | oldest | most voted
Anonymous
Guest
Anonymous

it's a time for bears to make another "intelligent" predition.

registered
Member
registered

1 Anonymous Says: "it’s a time for bears to make another “intelligent” predition."

Here you go: "Buy now or be priced out forrevah!"

patriotz
Member

@Anonymous:

Sure. Rents aren't going anywhere.

That's the only thing we have to be right about.

buffates
Guest
buffates

Thank you to "Inventory" for those stats, very much appreciate the breakdown.

jesse
Member

Do not feed the sockpuppets trolls.

CanuckDownUnder
Member
CanuckDownUnder

It's fair to say that you would never have seen stuff like this in the Aussie media 12 months ago:

"Louis Christopher, managing director of SQM Research, predicts that by June 2012 home prices in Melbourne, Brisbane and Perth will be as much as 15 per cent below their 2010 peaks, assuming no rate change from the Reserve Bank. Sydney's outlook is more positive."

In 2011 prices are going to be down 6-8% while inflation is going to be around 3%, so we're looking at a 10% real price drop. Just an 'orderly decline' or 'modest price fall.'

http://smh.domain.com.au/real-estate-news/report-

bubba
Guest
bubba

@CanuckDownUnder:

Her in HAMville..

I see a lot of Indo Canadian neighbours trying to sell OLD and NEW homes alike.

This makes it interesting, because it has been my experience and understanding that they will (i)sell (ii)on the basis have building a new one (…for the primary residence capital gain issue).

However, given this market, it seems they are all stuck and can't proceed..it makes no sense..the chain/cycle is breaking, if not broken.

It seems like a mad dash for the lifeboats

Li Kai Shing
Guest
Li Kai Shing

5

jesse Says:

September 7th, 2011 at 6:41 am

Do not feed the sockpuppets trolls.

======================

I agree but Comrade PaulB ain't that bad.

jesse
Member

@Li Kai Shing: "Comrade PaulB ain’t that bad"

paulb. has produced daily numbers on a consistent and timely basis for a long time now. That is something worth noting and appreciating; he is in rare company.

Anonymous
Guest
Anonymous

he is trying to get bears' business which none exists. poor guy might have to pack and move to the east coast once again.

M-
Member

Bubba (from the last thread):

Here's a link to the Point Grey half-block in question. I'm pretty sure it's a mix of townhouses and duplexes.

http://tinyurl.com/3vlnb5d

registered
Member
registered

5 jesse Says: "Do not feed the sockpuppets trolls."

Don't be so hasty, there's a direct inverse correlation between the frequency and abrasiveness of their trolls and the overall health of the central Vancouver RE market. Think of it instead as the smell of fertilizer signaling spring.

900kCrackHouse
Guest
900kCrackHouse

Just wondering, how is the market in Surrey right now? Are things moving?

Li Kai Shing
Guest
Li Kai Shing

@jesse:

That is my point !

What is different between him and me ?

We both provide wisdom and info.

PS See….Not even mention his hot co-worker Lauren

DaMann
Member
DaMann

@M-:

I posted this in the last thread but I will post it here

There was a huge uproar over that and building stopped dead in it’s tracks for a few years. The locals were aghast at the prospects of townhouses in their hood.

The real kicker will be when they sell off the military land that’s just off of Highbury. How much is that? 100 acres? It’s a massive chunk of land.

Manna from heaven
Guest
Manna from heaven

re: DaMann

Feds can't sell the land that the Jericho Garrison sits on. It remains a base or the Musqueam claims it.

DaMann
Member
DaMann

@Manna from heaven:

Really? I was under the impression that it was going to be sold very soon. I had no idea it was musqueam land, you sure about that?

bubba
Guest
bubba

Was musing a bit while out this morning and looking at For Sale signs growth.

Here in HAMville, undeniable the market is literally stagnant….(if it wasn't so dam hot out I would say its frozen.)

However, do (2) parallel universe exist?

(i) There are those of us that read, review blogs, and have seen this coming…simply the inevitable was delayed.

(ii) However, I don't get the feel the majority do this,(not trying to be condescending ) but how and why do they hit the wall almost in sync……..and stop buying ?

–Is it a lemming thing….once a hiccup starts they ALL choke?

–Is it their own individual world, thus a multiplier effect.

–Is the market that fragile and fickle..individually or collectively ?

Kinda eerie out their, like a Twilight Zone episode.

patriotz
Member

@bubba:

None of the above really.

When a market has been too expensive for too long and the ownership rate is at record highs you just run out of buyers. Has nothing to do with what people think really.

Manna from heaven
Guest
Manna from heaven

DaMann

They've talked about it for some time, see link below:

http://www.ceaa.gc.ca/052/details-eng.cfm?pid=361

However, I'm sure the Feds have come to the conclusion, after witnessing the Musqueam get their way with Pacific Spirit Park and the UBC Golf Course (link below), that it's use it or lose it. Besides, many Afghan vets are now occupying the housing units.

http://ubcinsiders.ca/2011/08/courts-uphold-trans

onenangryslav2
Guest
onenangryslav2

@patriotz: Correct. And the stagnant Canadian economy (are we in recession yet?) is not conducive to producing greater fools.

I've been looking at Craigslist rental listings this morning and there seems to be a lot out there for the first week of September. Maybe students are hunkering down even more than they do traditionally.

space889
Guest
space889

Surrey renters demanding landlord fix leaky buildings

http://www.vancouversun.com/business/Tenants+leak

DaMann
Member
DaMann

@Manna from heaven:

So any land in the lower mainland that gets transferred from Government automatically belongs to the natives? I understand what happened with the golf course but that was on traditional musqueam land. Is the Jericho area musqeam? I was under the impression it was not. I have never heard of any native land rights to any of the land down in that area, only west up the hill into UBC area.

DaMann
Member
DaMann

@DaMann:

Missed this bit form your last link

"The Associate Deputy Minister (Infrastructure and Environment) has started talks with the local aboriginal bands in order to settle their claims on the Jericho Garrison. "

Guess it will be a military base forever then. Better than a Casino or high rise condos I guess.

Li Kai Shing
Guest
Li Kai Shing

Hoo Boy.

Fire at Wreck Beach….take out a few trees which block view.

Make view better, not have to hike down , simply use telescope from concubines condo near hospice.

wpDiscuz