I am forever amazed at how many people always tell me they would love to go into some of the more expensive ($1,000,000.00 plus) homes and have a look. First of all, a million bucks ain't what it used to be, especially in a city like Vancouver, we'll have to increase the price to, let's say, $2 million.  Secondly, like any career, I can tell you that it gets awfully boring after a while, the long hallways, the thousands of stairs, always trying to fit paintings in my jacket the whole time.  Honestly, it's often no different than working at a pizza parlour and eating pizza.  The thrill is sometimes not what it used to be though I have to admit that

Well, it's happened twice today.  I warned my clients that their offer was far too low for this market but they just don't listen.  Too many courses by Carleton Sheets or something like that, I don't know, but I'm amazed how many people think that their lowball offers will be countered.  Now, I'm not talking about ten or twenty thousand off of a price but much, much more.  Only serious lowballers here.  Here's what happens.  The listing Realtor receives the offer and, realizing that his client will either freak out or refuse to pay his commission, he/she simply sends the offer back and walks.  No counter...nadda...nothin'....zippo. 

I guess this is one of those blogs that might come back to haunt me (perhaps in 2013) but I don't care.  I've been involved with this 'bubble' argument for so long, it is inevitable that the naysayers will be right one day.  One day....but not now, nosiree...not a chance folks.  Once again, during the lull that was August, everyone started throwing the 'bubble' word around again.  'Ohhh, it's coming this time'.  'Ohhhh, all those people shouldn't have bought'....'Ohhh, blah, blah, blah'.  The keyboard warriors out there who insist on this phenomenon are killing me.  You know, I had a client who sold his/her house in '03 never

 

One of the great things about being able to follow the market daily is that we (realtors) can view general numbers like new listings, sold listings and price reductions and can successfully approximate the current market.  As an example, today we had 55 new listings, 50 solds and 36 price reductions.  From this I can see that we are still having almost as many solds as new listings, which means we still have a slight shortage of product.  However, we are also seeing quite a few more price reductions lately meaning that people are reaching too high on their prices and getting no interest.  Sure there are still multiple offers around and that

So, summer is ending and the fall should be an interesting market.   Slow down in July, August...yes.....'bubble' bursting....no.  Sorry, no bargains out there yet. 

I am continually amazed at the amount of people insisting on the 'bubble' bursting.  I still see so many buyers out there, it would be hard for me to agree on any type of bubble.  HOWEVER, I am noticing that people are getting fed up with the prices and I definitely think they will not be climbing like they used to.  

But let's face it.  The real estate game has permanently changed.  Easier money for self-employed (big time!),