Tag Archives: selling

advice, BC, Canada, debt, economy, predictions, rates

How to prepare for interest rate hikes.

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153 Comments

We should be well and deep into the ‘boy who cried wolf’ territory by now.

How long have you heard warnings that interest rates may be going up?

We’ve all become so used to hearing that it’s going to be a big surprise if they do.

The CBC has an article that says interest rates will go up this year and here are 4 ways Canadians should prepare.

#3 is ‘don’t rush to buy a home’:

Higher interest rates could also lead to a correction in the housing market.

“The big issue as far as I can see is that people panic and think they have to get into the housing market before interest rates climb. But they have to recognize the overall long-term impact of interest rates actually climbing,” says Laurie Campbell, CEO of Credit Canada Debt Solutions.

Homebuyers who rush out to purchase homes to beat a spike in rates could end up with homes dropping in value.

“I think people have to be vigilant about any big purchases they may be making in the next little while. Housing in particular,” Heath says. “If someone is considering purchasing a house, they have to really look at more normal interest rates during their budgeting.”

Read the full article here.

Canada, data, economy, Open Topic

The Real Estate Agent Bubble.

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155 Comments

Does this stat surprise you?

About 1 in 245 Canadians over 19 is a Real Estate Agent.

We have almost as many people in the country selling real estate as we have building it.

This according to an article in the Financial Post

Royal LePage chief executive Phil Soper blames this increase on what he calls ‘speculative’ agents.

“This is a real regional story. If you look at Quebec, where they took a different approach to licensing and professionalism by increasing the length of time and difficulty to get your licence, their ranks have shrunk,”

So who’s out there getting their real estate license?  Sounds like this is the easy path to riches and as long as we get enough churn in the market there should be plenty of commissions to go around, right?

Read the full article here.

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!