BC, humor, hype, Open Topic, opinion

End of an Era: Ian Watt says no mo’ vidblog

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78 Comments

These days everybody and their dog is a realtor and their dogs have video cameras.

And everybody with a dog knows that if you hop in a car they start recording you.

So you might as well video blog right?

So yeah, every realtor video blogs. From their car.

As the guy in the video below points out, there’s even a metablog dedicated to ’em.

But it wasn’t always thus.  One of the original and most prolific Vancouver video bloggers is Ian Watt.

And this, my friends, is where we come to the end of an era. Ian Watt says that’s it for video blogging:

After SEVEN HUNDRED AND SIXTY video blogs Mr Watt is moving on to whatever the next best thing is.

We’ll miss you Ian, keep us updated on your next move, maybe post a video or something?

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entertainment for fun

Awesome issues here. I am very glad to peer your article. Thank you so much and I am taking a look ahead to contact you. Will you kindly drop me a mail?

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Democrass

Here are the sales and listings for the first 4 days of July going back to 2010

2010: 501 985
2011: 534 1177
2012: 478 1142
2013: 519 1050

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Anonymous

“better off waiting eh, ask the crews and and at vreaa`s, to see if they are better off. 2004 until now”

Actually many around here held properties from 2004 until peak and sold for massive gains. But forget about 2004. How have you done since last year? All that matters now is how things look going forward. Not good. But hey keep buying and report back in a year. LOL!

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Anonymous

better off waiting eh, ask the crews and and at vreaa`s, to see if they are better off. 2004 until now, it`s a heck of a long time; and you people keep singing the same song repeatedly.

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Anonymous

“will probably boost sales for a while”

…but in net will decrease them. People buying now would have likely done so later. They have accepted higher marginal prices with the tradeoff of lower financing costs. They would have been better off waiting for prices to drop even if financing costs increase.

Buy low sell high, right? 😉

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Turkey

If mortgage rates look like they’re going up, then anybody sitting on the fence over a home purchase had better rush to lock in cheap rates.

Prices are currently (and irrationally, and disastrously) determined by the carrying cost of debt, i.e. the monthly payments. Can you see why locking into a low rate (for five years) at the highest price (for 25 years) is a disastrous move?

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advoc8

I have to admit that the Fed’s unexpected, dramatic changing of low-rate sentiment will probably boost sales for a while.

(I also have to work out the bugs in my new computer)

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advoc8

If mortgage rates look like they’re going up, then anybody sitting on the fence over a home purchase had better rush to lock in cheap rates. That just brings future demand forward unless the economy is growing so strongly to sustain enough new borrowers to replace them.

Whoops, that was me who posted that. I have to admit that the Fed’s unexpected changing of low r

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Anonymous

If mortgage rates look like they’re going up, then anybody sitting on the fence over a home purchase had better rush to lock in cheap rates. That just brings future demand forward unless the economy is growing so strongly to sustain enough new borrowers to replace them.

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Anonymous

#60,
so, how are you parents feeling after a couple years you moved them from homeownership to rental?

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Anonymous

#67,
good for you. Save one space in the best place on earth for someone else.

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#thisisadisaster

@Rolli polli Ollie

The only thing that seems certain based on your post is how badly people want to live here. I’d love to know how you really define “from time to time”.

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Rolli polli Ollie

Really? You got that out of that statement? It’s slowly eroding. Deal with it. I moved for a higher paying job and lower cost of living. Haven’t regretted it for a second. It’s fun watching reality kick in with the “idiot” Vancouver real estate market.

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Rolli polli Ollie

I come back here from time to time to check up on the Van market although I left Vancouver over a year ago. One thing that seems certain is there is a direct correlation between the number of troll posts on here and a falling market 🙂

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trackback

[…] VMD posted the following summary: […]

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east village

When offering $25 gift card to stand in a line-up no longer draws the crowds,what do you do? You offer a free condo! http://www.seylynn.ca/freehome/

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VMD

Looks like FVREB met the same fate as the “outlying/ non-HAM areas” of REBGV:

FVREB Stats
Sales
Jun 2013: 1327 (-9.3%)
Jun 2012: 1463

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#thisisadisaster

, I give you credit for posting #56 and a link to the site. I hope some less bear-y people partook in that contest but didn’t post their estimates. Perhaps oracle-types who were too smart to use decimal places?

“But, in the winter you were all saying the “fall” would occur in the spring! How can you guys take yourselves seriously anymore?”

^ What he said.

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VMD

2013 Vancouver RE still recorded Mid-year price gain (vs year-start), though the % gain was slower than last year (and most years previously) in most areas. Greater Vancouver Sales are higher than last year, however the sales pick-up varied greatly with region. The record-low Fixed mtg rates this Spring was likely the main contributing factor – for the people who can still qualify for mortgages. In May/June, for SFH we see the Core (HAM/expensive areas) sales increasing at +30% to +50% YoY, while outlying areas (eg Coquitlam, Burnaby, New West, Maple Ridge, Pitt Meadows) sales are flat, or even lower than last year. If Fixed rates continue to creep higher, we can expect to see people with mortgage pre-approvals jumping into the market before it expires (usually 60 day rate-hold). So we might continue to see a busier July than… Read more »

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squeako

” You might as well also take away their passports too because it would be a great incentive for those with skills in demand globally to leave Canada and the debt mess behind.” Well, should I feel sorry for them or not? They signed the contract…. and probably are not stupid either, so what is the excuse? Greed..?? If they will have to leave the country to repay the debt, why not? Send the money with every paycheque, ty. If they “won” as in forever rising housing markets,I bet they would not feel anywhatsoever sympathy for those that did not buy the “winning” lottery ticket. When the housing market was rising to the mooooon, no “house owner” gave me any gifts, au contraire, they wanted more and more money for their “executive” rental suites. “Where is the incentive to work… Read more »

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Anonymous

“A minor increase in sales here and there. So what?”

Richmond +51%
Vancouver West +42%
North Van +36%

And this is “minor”? I’m not saying this is going to continue, but call it as it is: these are a major increases in sale, and prices seem to be following (not YOY yet, but certainly in the last few months.)

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Boombust

A minor increase in sales here and there. So what?

Prices HAVE come down, no one can argue that. That obviously helps.

The recent buyers? Some are most likely falling knife catchers.

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VMD

2013 VCI Price Prediction Contest Mid-year Stats (June 2013 vs Dec 2012)

Category 1: Aggregate, percent change from December 2012
-Greater Vancouver Composite MLS-HPI (+1.9%)(vs +2.7% Jun/12 vs Dec/11)
-Greater Vancouver SFD MLS-HPI (+1.7%)(vs +3.4%)
-Greater Vancouver Apartment MLS-HPI (+2.2%)(vs +2.2%)

Category 2: Average, percent change from December 2012
-Greater Vancouver detached average (+3.5%)
-Greater Vancouver attached average (+2.2%)
-Greater Vancouver apartments average (+17.2%)

Category 3: Regional SFD MLS-HPI, percent change from December 2012
– Burnaby S SFD +2.4% (vs +7.1% Jun/12 vs Dec/11)
– Coquitlam SFD +0.6% (vs +6.1%)
– North Van SFD +4.4% (vs +3.6%)
– New West SFD +3.7% (vs +4.6%)
– West Van SFD +2.7% (vs +7.8%)
– Van East SFD +2.0% (vs +4.5%)
– Van West SFD +3.3% (vs +3.9%)
– Richmond SFD +0.6% (vs -0.5%)

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Anonymous

“If spring brings “balanced conditions” homeowners should fear the fall (pun intended).”

But, in the winter you were all saying the “fall” would occur in the spring! How can you guys take yourselves seriously anymore?

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VMD

June 2011-2013 Greater Vancouver SFH Stats by Region
Richmond
Sales: +51% vs 2012; -27% vs 2011
S/L Ratio: 48% vs 24% vs 48% (2011)
HPI $ YoY: -5.5% (-8,-9.1,-8.4,-9,-6.3,-6.5,-4.2,-4) (prev months’ YoY % change)　　
　
Vancouver West
Sales: +42% vs 2012; -32% vs 2011
S/L Ratio: 57% vs 31% vs 65% (2011)
HPI $ YoY: -6.1% (-8,-8.5,-9.1,-9.2,-7.5,-5.5)

Vancouver East
Sales: +32% vs 2012; -22% vs 2011.
S/L Ratio: 55% vs 37% vs 73% (2011)
HPI $ YoY: -2.2% (-2.8,-2.8,-2.6,-2.7,-0.5,+0.2)

Burnaby
Sales: -5% vs 2012; -34% vs 2011
S/L Ratio: 43% vs 38% vs 55% (2011)
HPI $ YoY: -4% (-4,-4.7,-4.9,-3.1,-2.3,+0.4)

Coquitlam
Sales: +3% vs 2012; -29% vs 2011
S/L Ratio: 58% vs 51% vs 60% (2011)
HPI $ YoY: -2.4% (-1.8,-0.4,+0.8,+1.4,+2.4,+2.9)

North Van
Sales: +36% vs 2012; -35% vs 2011
HPI $ YoY: -2.9% (-3.3,-2.6,-2.4,-2.9,-2.5,-3.7,+0.3)

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Kbro

Post #31

” so how correct have you been about the housing market the last 10 years? ”

Not too correct actually.
Probably because I overestimated the common sense of the players in that game.

No billionaire, but I sold a few properties that I had managed to acquire during previous downturns. Fortunately, the proceeds have performed slightly better in the equity markets than they would have in RE.

Believe it or not, not everyone on this site younger than 30.

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