No sale on overpriced condo

Local rockstar realtor Ian Watt speaks truth to power in his most recent youtube episode.

Sounds like he’s getting a little frustrated with sellers who think their condo is special.

Pink carpet in the bathroom adds an easy $20k right?

Nope.  As Mr. Watt says, there may be all sorts of reasons nobody is interested in your Vancouver Condo, but the number one reason is that it’s overpriced:

Meanwhile his evil twin Ten Volt still claims to be the worlds busiest real estate agent in the world:

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fixie guy
fixie guy
7 years ago

@96 Anonymous: Save for the occasional small Mexican village, maybe not enough third world destinations to make a proper comparison to the bedroom floor pile of clothes displays commonly seen at the major department stores at Metrotown. Recommendations?

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gokou3
gokou3
7 years ago

@Krusty the Clown: Could be Costco CANADA making such bulk purchase! 😉

Krusty the Clown
Krusty the Clown
7 years ago

@ScubaSteve: Actually the National story (which I referred to) last night did imply that Canadians were being less than polite. That was the whole gist of the story with the anchor being overly polite to make up for “rude” rep we were getting. Maybe you should know the subject matter before you start arguing with someone. That is the tone of the media coverage and my repeating what was shown doesn’t mean I’ve thrown my hat in with anyone. I’m not angry about anything.If people want to buy their milk there, that is their business. I just don’t understand the economics and time wasting aspect for something that costs less than $5 per item. Obviously the economics are different if you are a business owner. As for Ian Watt, I don’t know him and would never proffer an opinion on… Read more »

Anonymous
Anonymous
7 years ago

@fixie guy: Don’t travel much, do you?

VHB
VHB
7 years ago
Aug-2012	
Total days	22
Days elapsed so far	9
Weekends / holidays	5
Days missing	0
Days remaining	13
7 Calendar Day Moving Average: Sales	93
7 Calendar Day Moving Average: Listings	204
SALES	
Sales so far	781
Projection for rest of month (using 7day MA)	1209
Projected month end total	1990
NEW LISTINGS	
Listings so far	1893
Projection for rest of month (using 7day MA)	2649
Projected month end total	4542
Sell-list so far	41.3%
Projected month-end sell-list	43.8%
MONTHS OF INVENTORY	
Inventory as of August 13, 2012	18811
Current MoI at this sales pace	9.45
VHB
VHB
7 years ago

@good-format: Hi Goodformat. Thanks for posting your summary. Could you check your ‘7 day average’? I can’t find any way to generate a 7-day average of 66 from the data you present.

Thanks

HipsterBear
HipsterBear
7 years ago

@ScubaSteve: “You all better look around, and see all this stuff around you? What do you think pays for it. Taxes”

So, residents of Bellingham, take it in the face like the dirty whores you are.

ScubaSteve
ScubaSteve
7 years ago

@Krusty the Clown:

Sounds like you have some anger issues to. So what if canadians want to go down to the US to buy milk? And no one was calling them rude at all. They had numerous city councellors and the mayor of bellingham on basically telling their residents off. One of the councillors of bellingham told his residents “You all better look around, and see all this stuff around you? What do you think pays for it. Taxes”. Sounds like it’s a few isolated ignorant stupid individuals in bellingham who think these things, and you seem to have thrown your hat in with them. As for Ian Watt, he is just another realtor. He isn’t a nice guy, he is a business man and he has found a way to generate himself a lot of clients.

Krusty the Clown
Krusty the Clown
7 years ago

@Vote Down The Facts:

I somehow doubt that average Vancouverites are the ones buying 12 gallons of milk at a time in Costco. Is it even possible to use that much before it goes bad unless you run a cafe of restaurant?

You’re probably right. It is most likely small business owners who are down there buying such large quantities. Although I suspect that some people also buy in bulk for extended families and friends.

TNT
TNT
7 years ago

…..30% price increases in Sept.

Watts milking the Bull.

Krusty the Clown
Krusty the Clown
7 years ago

Stop ragging on Ian Watt. Granted, he’s a realturd, but I’ve seen a few of his videos and he’s surprisingly honest about the state of the market and freely states when the market is slow or if prices are falling etc. In this particular video he is simply stating what many bears here frequently state “if its not selling, its overpriced”. He is not a typical RE pumper with the “HAM/running out of land/BPOE” bullshit stories so give the guy some credit. The National also covered the “rude Vancouverites in Bellingham” story last night. Showed a bunch of Canadians snatching milk from a large pallet like it was their last EVER to buy milk. I mean, its milk. MILK. Its everywhere and its a relatively cheap product. I don’t get it. So what if its half priced? Is it really… Read more »

Vote Down The Facts
Vote Down The Facts
7 years ago

@fixie guy: “Vancouver is the only city in my travels with a local culture that considers trashing store displays acceptable.”

Then you can’t have travelled very far, and I’m not aware of anybody who considers it “acceptable”.

Vote Down The Facts
Vote Down The Facts
7 years ago

I somehow doubt that average Vancouverites are the ones buying 12 gallons of milk at a time in Costco. Is it even possible to use that much before it goes bad unless you run a cafe of restaurant?

Still, gotta love the fools who think this behavior is somehow representative.

Best place on meth
Best place on meth
7 years ago

@Patiently Waiting:

What do you mean “expect”?

Patiently Waiting
Patiently Waiting
7 years ago

@Best place on meth: There’s a reason American milk is half price. I expect to see a generation of mutants coming out of Surrey.

Boombust
Boombust
7 years ago

“Vancouverites are an embarrassment to humanity.”

Why? Because people in “Bellingscram” don’t like us?

Who cares? They have NEVER liked us.

They used to call us “Cheeseheads” in the ’70’s…

So Amerikan.

Best place on meth
Best place on meth
7 years ago

@left already:

It’s unbelievable how many people drive to Bellingham for milk and gas.

Vancouverites are an embarrassment to humanity.

piklishi
piklishi
7 years ago

@Devore: Well whoever uses this forum will use PaulB as a realtor. He will be having a lot of customers soon 🙂

rp1
rp1
7 years ago

#80 @fixie guy: “Particularly infuriating was reading this behaviour described as Canadian.”

You’re behind the times. If you want to catch up, try pushing your way to the front of the line.

fixie guy
fixie guy
7 years ago

@77 left already: That made global news. I first saw it on the national CBS morning show today and also found it caught the attention of the British press. Particularly infuriating was reading this behaviour described as Canadian. I’m not aware of complaints east of the Lower Mainland. Vancouver is the only city in my travels with a local culture that considers trashing store displays acceptable.

vangrl
vangrl
7 years ago

“I’ve made this comment before,” says Mr. Somerville. “House price levels in this market are such that I will never use the term ‘buyer’s market.’ I will say, ‘prices are more restrained and less frenzied.’”

http://www.theglobeandmail.com/life/home-and-garden/real-estate/buyers-on-the-sidelines-as-vancouver-market-slows/article4480463/?cmpid=rss1

good-format
good-format
7 years ago

Copied from PaulB’s number
http://www.laurenandpaul.ca

 Date     Listing  Sales   S/L   Price(+-)  Inv    Inv(+-)
Aug-01      258     61    23.6     99     18,708
Aug-02      182     49    26.9    114     18,740    32
Aug-03      202     93    46.0     92     18,799    59

Aug-06        0      0       0      0	     -
Aug-07      232    113    48.7    128     18,784   -15
Aug-08      210     49    23.3    105     18,851    67
Aug-09      195    120    61.5    119     18,816   -35
Aug-10      169     96    56.8    118     18,806   -10

Aug-13      206    103    50.0    124     18,788   -18
Aug-14      239     97    40.6    125     18,811    23

Total-Cur 1,893    781    41.3  1,024              103
7-day avg   146     66    45.6	   84                4
Total-EST 4,368  1,910    43.7  2,459     18,877   172
left already
left already
7 years ago

I could not resist this:
http://gma.yahoo.com/blogs/abc-blogs/americans-fed-canadians-taking-over-local-costco-124454335–abc-news-deals.html
When I was living in Wetcouver, I always wondered how people managed to get buy in the over-rated overpriced city.
Well, part of the answer is they live on milk and toilet paper, look how Canadians riot over milk jars at Costco. This is beyond surreal!
What a shame for the best place on earth.

Anonymous
Anonymous
7 years ago

@Manna from heaven: “China’s Gao Shan heads home to face charges on $130M fraud ring after eight years hiding in Vancouver.

http://news.nationalpost.com/2012/08/13/chinas-gao-shan-heads-home-to-face-charges-on-130m-fraud-ring-after-eight-years-hiding-in-vancouver/

From the article: “Only after a 2006 car crash did he and his wife reveal their address to authorities.”

Busted in a car crash! Who would have made that call? I can embezel $130M but can’t figure out when to use my blinkers. 🙂