2761 replies to this topic

[MarkoJ]

[Barrrister]

<arko: So who is buying all these houses at this top dollar price point?

[MarkoJ]

[MarkoJ]

[Nparker]

734 active listings! 

[MarkoJ]

[Nparker]

Have active listings ever been this low before? 

[MarkoJ]

Have active listings ever been this low before? 

 

No, in 2012 we ended the year at some 3,800! 

[Victoria Watcher]

Have active listings ever been this low before? 

 

 

Inventory levels ended the year with just 652 active listings for sale by the end of December, the lowest inventory seen in the last 25 years and a 49 per cent drop from the 1,279 active listings for sale at the end of December 2020.

 

https://www.timescol...ventory-4922549

[Mike K.]

Marko’s take on the last year and what’s in-store for 2022: https://victoria.cit...-rising-market/

[MarkoJ]

[MarkoJ]

[MarkoJ]

[Moderation]

I have family living in a condo and this month so far at least two units have been sold privately, no MLS or agent involved just lawyers to check the contracts.

 

I wonder in this tight market how often that is happening. 

[MarkoJ]

I have family living in a condo and this month so far at least two units have been sold privately, no MLS or agent involved just lawyers to check the contracts.

 

I wonder in this tight market how often that is happening. 

 

I think on the whole it is rare as sellers are afraid to leave money on the table. Lots of condos right now receiving 5 to 20 offers. 

[gstc84]

I think on the whole it is rare as sellers are afraid to leave money on the table. Lots of condos right now receiving 5 to 20 offers. 

 

I'm definitely one of the lucky ones. Just bought the downtown condo I'd been renting for 5 1/2 years in a private sale. Previous owners decided to sell, and offered it to us for about $30k less than they were planning to list it for (never mind what they could have sold it for!), as a thank you for being good long-term tenants. We weren't planning to purchase any time soon, but the deal was too good to pass up.

[Mike K.]

Ah, good. Glad that worked out.

Family friends of ours just sold their house in Victoria for $200k below market, after a neighbour approached them with a rushed offer. Oops.

[punk cannonballer]

When we bought our house 10 years ago the sellers had two offers - one an investor and one from us, a young family. We had offered over asking but still less than the other offer and they gave it to us because they wanted it to be a family home. I'll remember that and pay it forward when we sell it.

[MarkoJ]

When we bought our house 10 years ago the sellers had two offers - one an investor and one from us, a young family. We had offered over asking but still less than the other offer and they gave it to us because they wanted it to be a family home. I'll remember that and pay it forward when we sell it.

 

Problem is people lie, I've seen it first hand. Really shitty people can write amazing letters about their "young family." 

 

As the seller even if you don't need the money, your kids don't need the money, no one in your family needs the money my suggestion is sell it for absolute top dollar and then donate the additional funds to people in need. I find it interesting when people write letters pitching their young family on the purchase of a $1.5 million dollar home. Appealing to emotion when you need food on the table, sure, but $1.5 million homes....common. 

[max.bravo]

Great suggestion… that way the realtor still gets absolute maximum commission, even if the sellers prime motivation isnt money.