debt, opinion, prices, supply

Is ‘Priced to sell’ the dumbest sales pitch?

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53 Comments

One would presume that if you offer something up for sale you’re interested in selling it.

That would mean that you have priced it at a point where you hope to make a sale, even if you’ve hopelessly overpriced it, you’re still dreaming that it’s ‘priced to sell’.

And yet not infrequently you’ll find listings that declare that they are ‘PRICED TO SELL!’.

Do these agent not price their other properties to sell?  Are these the only properties that are priced at a point where they hope to sell?

Then there are the synonyms: “MUST SELL”, “WON’T LAST!” and “NOT A DRIVE BY!”.

They all really mean just one thing:

SELLER IS DESPERATE!

 

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Anonymous

A lot of my friends didnt listen to the b/s that the glass-half-empty people have said. They have become homeowners with little or no mortgages; and have comfortable homes for their families. They enjoy, every minute of it, very much what the best place on earth has to offer them.

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Hairy Gerry

@Why:

you tell me. I’m covering my basis knowing full well that there’s likely someone that would take offense being the untra sensitive society we currently live in…

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Anonymous

@YLTNboomerang: “And tasty but most importantly, domesticated for human consumption so eating foie GRAS does not fuck with the oceans ecosystems”

Do you eat salmon or sushi?

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Why

@Hairy Gerry:
“And this by no means is a shot at Chinese Canadians, as I have a few Chinese Canadian buddies and love these guys.”

Why would a story about a superstitious person be perceived as a shot at Chinese?

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patsan

@jesse:
One more to your collection:
Low maintenance backyard – covered by either concrete or ashphalt, no grass or trees

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YLTNboomerang

@G: And tasty but most importantly, domesticated for human consumption so eating foie GRAS does not fuck with the oceans ecosystems

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G

@Best place on meth:

But ducks are cute…

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JR

@jesse: Jesse how can you predict the effects of what is and has obviously been for some time irrational exuberance? Calibrating what has been and projecting this forward is what our locally vested “Economists” have been doing. As I think you know better than most, there is much more at play here than meets the eye to date – statistically or otherwise.

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Hairy Gerry

Funny story. And this by no means is a shot at Chinese Canadians, as I have a few Chinese Canadian buddies and love these guys.

I’m rooming with a buddy, from Shanghai, and I told him that I thought the house was haunted. He asked, “How do you figure?” I told him that while I was getting out of the shower the other day I noticed that the steamed up bathroom mirror had the number 4 finger written all over it…

Don’t think there’s been a night since that he has turned off his bedroom light to sleep 🙂

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Best place on meth

@G:

Because you can make as many ducks as you want for fucks sakes – and you don’t throw 99.9% of the duck away like these assholes do with sharks.

That’s why nobody gives a shit about ducks.

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Anonymous

@fatso:

If the Globe is going with the same system as the Sun and the NY Times, you can just open it in a private browsing or incognito window. If it can’t see your cookies it doesn’t know how much you’ve read and just lets you in. Kind of scuzzy I know, but geez.

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G

@Amy Whiteperson:

foie gras is just as cruel as shark fin, but why the media is bashing only shark fin?

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Anonymous

@Anonymous: “How did the US banks make out with government backed mortgages?”

Actually how did the Canadian banks make out when the US housing market crashed with little or no exposure? They took a 40% hair cut. You somehow think a housing crash in Canada and all of its fall out in the general economy where the banks are fully exposed with result in no correction for the banks? Good luck with that.

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Anonymous

@Jennette Mclandon: “I buy bank shares every month, month in month out, I have for years and years and years. It’s made me rich enough to retire at 48 years old.”

If your money is in bank shares you will be back to work by the time you hit 50.

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Anonymous

@mclovin: “The slowing consumer will hurt earnings but the vast majority of their mortgages are CMHC or 25% down. They will skate the housing crash just fine.”

But the credit card debt, lines of credit are unsecured and people stop paying those first. How did the US banks make out with government backed mortgages?

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jesse

@Best place on meth: “Yet another 19K party upcoming” I don’t think another 19K party is likely for the rest of 2012. Daily sales are doing markedly better than September; this isn’t a weekend framing offset, sales have improved. I mentioned this last night, sales are still bad but not really bad. I’ve been forecasting a -4% YOY drop by mid-March. I’m putting that on watch, it looks a better chance to be better than that by a small amount, maybe -3%, especially if sales remain robust through November. I’m still sticking to -4% though. (And really, what do I know!) Prices in the fourth quarter of 2011 were weak compared to the previous quarters in that year, as they are most years, so to produce larger YOY drops in Q1 of 2013 requires sustained weakness through Q4’12. It will… Read more »

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Sulkmie Kalk

Looks like we’ll whimper into year end, probably down another 2% or so from here.

Should take us down 12-15% year over year by March.

Not as rapid as many of us had hoped, but with no external catalysts (ie. jump in interest rates), I think it’s going to slog down gradually, for years…

I don’t think we’ll fall 50%, more likely in the 35% range or so….and even that could take a few years.

Thoughts?

What’s all this about sex in crack shacks? At a million a pop, it sounds a tad steep to me – I’ll stick to Vegas.

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Jennette Mclandon

I buy bank shares every month, month in month out, I have for years and years and years.

It’s made me rich enough to retire at 48 years old.

Still, I wouldn’t have sex in a million dollar Vancouver crack shack if you paid me!!!

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Devore

@Achilles HELOC: There is plenty of reason to SELL Canadian bank shares, they’re just flat out overpriced, and re-deploying your capital to an underpriced opportunity. But shorting is very risky business. Especially with high dividend paying stocks, you stand to lose a lot of money with poor timing. How far will bank common shares fall, and when?

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Achilles HELOC

@ McLovin,

The banks business will be hurt badly in a real RE-led downturn. For one thing, most of their HELOC exposure is unsecured. Second, even in the absence of a correction, a decline in VOLUMES of mortgages hurts their earnings. Third, the banks sell a lot of mutual funds that own, you guessed it, shares in Canadian banks. That was a virtuous circle on the way up, vicious circle on the way down. McLovin, I want you to keep holding your bank shares for the dividends (juicee!!) and anyone who wants to merely preserve their capital can cash out.

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Patiently Waiting

@Amy Whiteperson: I saw footage of Wong’s all-Asian press conference as she slurped-up the soup. A couple of the young Chinese reporters had looks on their faces that reminded me of the expression on an ex-girlfriend’s face when her drunken Mom said something ignorant about “the Joos”.

Wong will lose votes in her own community over this. Hopefully, her seat.

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Best place on meth

Looks like mid-month expiries took us under 19K which means…..

Yet another 19K party upcoming.

The good thing is though, the longer inventory hovers around 19K the less time there will be for it to fall into the end of the year before taking off like a rocket again beginning January 2.

We may be starting from a very high point next year.

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COCwatch

@Makaya: Silly COCs. Will they ever learn?

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market stats

seems like some level of pickup in sales, but worth comparing to historicals

http://housing-analysis.blogspot.ca/2012/01/sell-list-ratios-in-vancouver.html

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Amy Whiteperson

I’m gald the shark fin soup issue is being addressed on this blog. I’ve seen a documentary on shark fin soup so my views on the issue are well informed and sophisticated.

I can say, without a doubt, eating shark fin soup is barbaric and the practice should be banned.

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