Short numbers again. Sorry! Download problems. 259 listings yesterday and 240 sales, for a sell/list of 92.66%.
Inventory was 12,104 while over 90s were 2,257 or 18.65%.
Filed under Daily Numbers, Uncategorized
Monday, Monday, can’t trust that day……
one day for the bears, the next day for the bulls and keep everyone confused.
…..sometimes it just turns out that way….
I think, though, as a rule, Mondays tend to have a little higher listing count, so a bullish Monday should be REALLY bullish before it matters a ton.
Some US states are considering bailouts for subprime vitims:
Could this amplify the problem, and would it be fair for responsible taxpayers to bail out the irresponsible ones?
…talking about the benefit of being home owners!
“Fair for responsible taxpayers to bail out the irresponsible ones…?”
Watch out joe! You’ll starting sounding like an angry old white guy who doesn’t want to pay for welfare, transit, abortion, healthcare, government workers….:-)
yes, it could amplify the problem as it creates greater moral hazard.
no, it would not be fair. not at all.
Yes joe, it’s amplifying the problem alright as the subprime desease is spreading to prime borrowers.
Just could’nt resist this one:
Ah screw it, link too long.
Hey guys, co-worker from work has just bought a house in abbotsford for $355k with zero down and a rate of 5.79%.
He plans to shortsell.
My prayers are with him that this story turns out well.
Inventory in the fraser valley has been piling up lately. I noticed that new listings are now competing with older listings and are aggressively priced lower.
Some people are thinking they can still quickly flip a house, but a few people in our neighbourhood have had to lower their prices several times because their flips are not selling.
It’s not that the flips are overpriced, it is just with increased inventory, noone wants to buy the pigs with lipstick with a better selection of properties to choose from.
But, then again, it is not about what kind of market you buy your property in, it is about whether you overpaid, underpaid or got it at market value that makes all the difference in how the flip will turn out.
coco, reread your 2nd last paragraph.
Are you in denial. You seam to contradict yourself.
Forget the pigs with lipstick BS, it’s a fact that asking prices do not reflect value.
As a matter of fact have a look at the garbage in Vanocuver and Burnaby that you can buy for $5- 600k!!!!
GAG Barf. Decent renos to quality properties are golden if done right 🙂
Last year properties sold in the fraser valley sold at the same prices no matter what kind of renos were done. This year if you don’t have quality renos, your place is not selling even at last years prices. Your talking about Vancouver and Burnaby, my response was to the Anonymous post above in Abbotsford. Totally different market with a lot more inventory to choose from there.
I’m not contradicting myself, nor am I in denial. But, comparing the so called “garbage” properties you mention in Vancouver and Burnaby to properties in Abbotsford is a totally different ball game.
“Decent renos to quality properties are golden if done right”
Totally agree. But, a lot of flips are not quality renos, just rush jobs to get the house back on the market to make a profit.
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