Landcor’s Q1 residential sales summary was just released. As expected, the spread between Landcor and REBGV sales (presales and whatever else is considered a residential sale), has crashed to a new record low in Q1.

http://i.cubeupload.com/Vz3p5C.png

So much for Van’s rosy resale numbers.

Sorry the chart above was mislabeled. http://i.cubeupload.com/dE6kBx.png

@Aggregator

Can I ask you explain what that means? (I’m quite ignorant, and don’t even know what Landcor is.)

oh no , sky is starting falling again!

I think the chart means presales (which is the difference between Landcor and REBGV) fell off a cliff.

11 letter phrase for ‘watching paint dry’

SLOWNE__DAY

Not surprised to see the Vancouver Teranet Index up a little bit month-over-month for June – June is traditionally a strong month for the index and sales were merely lousy in the month, not awful. Still, it’s a pretty miserable spring overall per Teranet.

Last year the Vancouver Teranet index peaked in June, I guess the jury is out on when the peak will show up this year, I’d be surprised if it’s any later than June, and might even be in May.

Meanwhile, Victoria’s disastrous, crash-like spring ‘market’ continues, with another 0.8% drop in what is historically one of the strongest months of the year for the Teranet Index. The Victoria index is back at the same level it was in July/August 2007.

Sorry, meant to say Teranet Index up month over month for May, not June.

I will explain again Aggregator. The pre-sale information that you cite in the Landcor data is not a pre-sale transaction from the most recent quarter. A completed pre-sale means that the contract entered into (say two years ago) has transitioned into a sale due to the unit being completed. The landcor information for sales include

resale units
pre-sold new home that were completed in the quarter
new home inventory that sold in the most recent quarter

mls sales include only a subset of these sale. Not all sales go through mls – a fair number are sold privately. some new home sales are sold through mls and not through a developer. mls tracks presales if it is sold through a realtor

So presales sold directly by developers aren’t tracked anywhere?

There are a couple of private firms that seem to track that information. Vancouver’s MPI Intelligence seems, now owned by Deloitte has tracked it in the past, and in Toronto, Realnet. This is generally hidden information

Developers are pretty much all private companies in Canada so there isn’t as much public disclosure. The firms I listed were generally started by industry insiders and need to have good relationships with the companies to obtain the info.

It’s amazing how little RE information is available to the general public.
The Realtor and Developers cartels are in bed together.

Realtors words often make me cross.

If anyone is willing to track Van’s foreclosures ( I would but I’m too busy tracking other data), go to the link below and start counting the number of foreclosures listed under “Classification of File” in BC Court’s new case report. Compare these as a percentage of Paul B’s daily solds and you may be surprised.

https://eservice.ag.gov.bc.ca/cso/newCaseReport.do

http://www.theglobeandmail.com/report-on-business/sobeys-to-buy-safeway-in-58-billion-deal/article12499648/

Sobeys just bought Safeway Canada for 4.8 Bill and now plan to sell off the land. Looks like Burnaby is getting my towers after all.

sorry. meant to say more towers.

13 of which belongs to TD Bank

foreclosure report has some legs, would like to see someone pick-up the ball and report daily, even PB, if he’d like to add this to his daily report.. would be much appreciated.

#19.
Looks like the courts are swamped with Motor Vehicle Accidents.
Most likely home owner drivers distracted by worrying about how to pay for next month’s rent.

Can’t Pay Your Mortgage?
What You Can Do If You’re Facing Foreclosure

For any homeowner who is about to miss a mortgage payment, has already missed one or more mortgage payments, or has received a Petition to go to court. It explains what homeowners can do when lenders try to take their properties because of missed payments (foreclosure). The booklet lists agencies that can provide information or other kinds of help.

http://www.lss.bc.ca/publications/pub.php?pub=15

it’s a little too late for those in Foreclosure court, but I sense the Crown Printer may have to run the presses . XXtra copies, for the deluge to come…

Are foreclosures tracked explicitly in MLS? The descriptions usually say “court-ordered sale” or whatever, but is there a specific field that would let somebody with the appropriate database access search for it?