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Why are 95% of Vancouver properties not selling? December 2012 update

December 8, 2012

Filed under: Vancouver — Richard Morrison @ 12:24 pm
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We just wrote a piece that got picked up by CBS News Money Watch… In the piece we wrote on a recent study done by an SFU professor…
Only the best Vancouver properties are selling right now. This is why price have held up and that is most likely the reason why prices are holding up. The other 95%+ of sellers are taking their homes off the market betting the market will get better.
If you are a buyer, then you are getting top notch quality (call it value?).
If you are a seller, make sure you are providing top noth quality.
Over 95% of homes listed are not selling… despite only a 30% decline in sales year over year.


Here is a little blurb on it:

“According to an article posted on The Vancouver Sun which was written by Andrey Pavlov who is a finance professor at Simon Fraser University, he highlighted the fact that he thought that the indices were “misleading” though he felt this was unintentional. According to him, the indices were not true reflection of the attitude changes in the market at the moment. According to him “In an up market, everything sells, good or bad. In a down market, only the best properties sell. So it takes awhile for transaction based indices to reflect the true decline in prices.”


If you are reading this and you are on the fence about buying or selling then call us!

We can make it ALL CLEAR and provide a proven strategy!

 

Here is a testimonial from a client we just completed a purchase for this morning!
“Thank you Richard,
I’m looking forward to lunch! Will be probably in the new year. Thanks again to Denise and everyone it has been an absolute pleasure to have your support and professional assistance.
Cheers
Andreas”

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