Jump to content

      












Photo

Victoria Real-Estate Board statistics


  • Please log in to reply
2181 replies to this topic

#2161 sebberry

sebberry

    Resident Housekeeper

  • Moderator
  • 20,058 posts
  • LocationVictoria

Posted 30 August 2021 - 02:13 PM

In such a low listing environment what about listing now?

 

The bar has been set, a recent sale went for about 40k lower than what I need to sell for in order to find something suitable in my price range.


Victoria current weather by neighbourhood: Victoria school-based weather station network

Victoria webcams: Big Wave Dave Webcams

 


#2162 lanforod

lanforod
  • Member
  • 8,224 posts
  • LocationSaanich

Posted 30 August 2021 - 02:59 PM

nothing stops you from trying to raise the bar



#2163 sebberry

sebberry

    Resident Housekeeper

  • Moderator
  • 20,058 posts
  • LocationVictoria

Posted 30 August 2021 - 03:20 PM

nothing stops you from trying to raise the bar

 

Thanks but I know what's going on in my building...  The last sale was close to 20k below asking.  Reincarnation is a thing, right?  I'll just wait until my next life to get a dog...


Victoria current weather by neighbourhood: Victoria school-based weather station network

Victoria webcams: Big Wave Dave Webcams

 


#2164 Mike K.

Mike K.
  • Administrator
  • 64,913 posts

Posted 30 August 2021 - 03:24 PM

List $40k over your desired price and work it down. We’re in such a low listing environment that you may encounter someone who doesn’t mind the restrictions and compared to other options finds yours reasonable.

Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.


#2165 Victoria Watcher

Victoria Watcher

    Old White Man On A Canadian Island

  • Member
  • 25,059 posts

Posted 30 August 2021 - 03:28 PM

List $40k over your desired price and work it down. We’re in such a low listing environment that you may encounter someone who doesn’t mind the restrictions and compared to other options finds yours reasonable.

 

or someone that for whatever reason really wants one in your building particularly.  it's often a great time to list when you are the only unit there for sale.


Edited by Victoria Watcher, 30 August 2021 - 03:29 PM.


#2166 Mike K.

Mike K.
  • Administrator
  • 64,913 posts

Posted 30 August 2021 - 03:30 PM

Right. Don’t let past performance knock you down.

We’re still in a phase when parents are scrambling to buy their kids a condo while they’re in post sec.

Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.


#2167 Mike K.

Mike K.
  • Administrator
  • 64,913 posts

Posted 30 August 2021 - 03:36 PM

But having said that, you best have a new place lined up with an accepted offer pending your sale as a condition. I know of several recent sellers who sold, but are now renting because they can’t buy back in.

Don’t get caught in that scenario because you might be wishing you hadn’t sold.

Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.


#2168 sebberry

sebberry

    Resident Housekeeper

  • Moderator
  • 20,058 posts
  • LocationVictoria

Posted 30 August 2021 - 04:08 PM

Marko is reading all this laughing!


Victoria current weather by neighbourhood: Victoria school-based weather station network

Victoria webcams: Big Wave Dave Webcams

 


#2169 MarkoJ

MarkoJ
  • Member
  • 5,257 posts
  • LocationVictoria

Posted 30 August 2021 - 10:35 PM

He he.....literally out loud. I personally haven't seen an offer be accepted subject to sale in the last 16 months. The majority of my transactions right now are unconditional. Lucky to get 5-6 business days for conditions. Subject to sale offers sellers just shred. Only works on something very overpriced or undesirable for whatever reason.

 

Unfortunately even with low inventory restrictions are a killer. I would estimate that if a building (not saying this is Sebberry's building) is 19+, no pets, no rentals, and no BBQs that reduces your market pool by >95%. Add in talk of special assessments or upcoming and you are reducing the market by >98% and as you can imagine when the market is that heavily restricted the market value plummets. 

 

Not everything has gone up. You have market segments that are up 30% in that last 16 months, but a few market segments are near flat. 


  • sebberry likes this

Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2020 | Fair Realty

www.MarkoJuras.com Full Service MLS® - 2.75% | www.834sales.com & www.promontoryforsale.com - Building(s) specialist 

Looking at Condo Pre-Sales in Victoria? Save Thousands!

 

 


#2170 Mike K.

Mike K.
  • Administrator
  • 64,913 posts

Posted 31 August 2021 - 05:30 AM

Hmm, we know there are units selling in that building. I’d there something Seb can do to close the $40k gap? Like focus on parking included? A quick reno of some thing in the unit?

Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.


#2171 sebberry

sebberry

    Resident Housekeeper

  • Moderator
  • 20,058 posts
  • LocationVictoria

Posted 31 August 2021 - 07:36 AM

Hmm, we know there are units selling in that building. I’d there something Seb can do to close the $40k gap? Like focus on parking included? A quick reno of some thing in the unit?

 
2010 my suite got a complete kitchen overhaul, last year I redid all the carpets, painted everything, new baseboard and window trim everywhere.  The place looks pretty good.  1000 sq-ft, 2bed, 2 bath and tons of storage (no chicken wire lockers for the junkies to break into....)
 

Unfortunately even with low inventory restrictions are a killer. I would estimate that if a building (not saying this is Sebberry's building) is 19+, no pets, no rentals, and no BBQs that reduces your market pool by >95%. Add in talk of special assessments or upcoming and you are reducing the market by >98% and as you can imagine when the market is that heavily restricted the market value plummets.


Our property manager is convinced that people pay more to have the pet restriction. He used to be an appraiser, 10 years ago when the market was completely different and states that Realtors will say anything to make a quick buck, so clearly Marko is fibbing here :D   Marko pretty much describes my building here, minus the age restriction (there is none) and rentals 5/27 can be rented.  The irony is the owner occupied units are more problematic than the rented ones...


Victoria current weather by neighbourhood: Victoria school-based weather station network

Victoria webcams: Big Wave Dave Webcams

 


#2172 Mike K.

Mike K.
  • Administrator
  • 64,913 posts

Posted 31 August 2021 - 08:02 AM

Is there a rental vacancy right now among the 5 eligible?

Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.


#2173 sebberry

sebberry

    Resident Housekeeper

  • Moderator
  • 20,058 posts
  • LocationVictoria

Posted 31 August 2021 - 08:09 AM

Is there a rental vacancy right now among the 5 eligible?

 

Nope.  


  • Matt R. likes this

Victoria current weather by neighbourhood: Victoria school-based weather station network

Victoria webcams: Big Wave Dave Webcams

 


#2174 MarkoJ

MarkoJ
  • Member
  • 5,257 posts
  • LocationVictoria

Posted 01 September 2021 - 02:08 PM

download.png


Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2020 | Fair Realty

www.MarkoJuras.com Full Service MLS® - 2.75% | www.834sales.com & www.promontoryforsale.com - Building(s) specialist 

Looking at Condo Pre-Sales in Victoria? Save Thousands!

 

 


#2175 Citified.ca

Citified.ca
  • Administrator
  • 1,942 posts
  • LocationVictoria, BC

Posted 01 September 2021 - 03:24 PM

August shatters Victoria price record for houses with $1.22 million average amid plummeting re-sale inventory

https://victoria.cit...sale-inventory/


Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.

#2176 MarkoJ

MarkoJ
  • Member
  • 5,257 posts
  • LocationVictoria

Posted 08 September 2021 - 07:40 AM

download.png


Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2020 | Fair Realty

www.MarkoJuras.com Full Service MLS® - 2.75% | www.834sales.com & www.promontoryforsale.com - Building(s) specialist 

Looking at Condo Pre-Sales in Victoria? Save Thousands!

 

 


#2177 punk cannonballer

punk cannonballer
  • Member
  • 147 posts

Posted 08 September 2021 - 07:59 AM

Vapour lock.


  • Mike K. likes this

#2178 Hotel Mike

Hotel Mike

    Hotel Mike

  • Member
  • 2,061 posts

Posted 08 September 2021 - 09:17 AM

Ha-ha. Vapour lock. My first car, a 1954 Plymouth would develop that sometimes. I remember one at the corner of Portage and Main in Winnipeg. A fine place to stall.


  • Mike K. likes this
Don't be so sure.:cool:

#2179 MarkoJ

MarkoJ
  • Member
  • 5,257 posts
  • LocationVictoria

Posted 15 September 2021 - 10:07 AM

download.png


Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2020 | Fair Realty

www.MarkoJuras.com Full Service MLS® - 2.75% | www.834sales.com & www.promontoryforsale.com - Building(s) specialist 

Looking at Condo Pre-Sales in Victoria? Save Thousands!

 

 


#2180 Casual Kev

Casual Kev
  • Member
  • 742 posts

Posted 16 September 2021 - 11:55 PM

Our property manager is convinced that people pay more to have the pet restriction. He used to be an appraiser, 10 years ago when the market was completely different and states that Realtors will say anything to make a quick buck, so clearly Marko is fibbing here :D   Marko pretty much describes my building here, minus the age restriction (there is none) and rentals 5/27 can be rented.  The irony is the owner occupied units are more problematic than the rented ones...

 

With pet restrictions being the norm in rentals nowadays and SFHs now a pipedream for the masses, I'd imagine the % of buyers wanting stratas to allow pets has increased substantially since olden days. 


  • sebberry likes this

You're not quite at the end of this discussion topic!

Use the page links at the lower-left to go to the next page to read additional posts.
 



0 user(s) are reading this topic

0 members, 0 guests, 0 anonymous users