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#2261 MarkoJ

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Posted 22 February 2022 - 07:25 PM

How’s the mood out there, Marko?

 

Sales still constrained by inventory. People starting to chat about interest going up so it will be interested to see how that unfolds going into spring. Odds are BoC does an increase in March. 


Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2021 | Fair Realty

www.MarkoJuras.com Looking at Condo Pre-Sales in Victoria? Save Thousands!

 

 


#2262 Mike K.

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Posted 22 February 2022 - 07:33 PM

And you have to wonder, with so much demand, and so few listings, whether rising rates will actually quell activity or just push more buyers down-market into smaller units, or out of the market completely. These are truly bizarre times we are living.


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#2263 punk cannonballer

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Posted 23 February 2022 - 01:10 PM

Far more likely to further limit affordability for the masses than to lower property values, which are notoriously sticky. Like most everything else these days it will further divide wealth. Rising interest rates negatively impact people who don't already have money, dontcha know.



#2264 Moderation

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Posted 23 February 2022 - 03:47 PM

Sticky until they become unstuck. I had a neighbour who bought during a buying frenzy....over ask etc.  2years later he was $100,000 under water on his mortgage.



#2265 Szeven

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Posted 23 February 2022 - 06:58 PM

Rising interest rates negatively impact people who don't already have money, dontcha know.


Like all those poor people who own stocks?

#2266 Mike K.

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Posted 23 February 2022 - 09:41 PM

Sticky until they become unstuck. I had a neighbour who bought during a buying frenzy....over ask etc. 2years later he was $100,000 under water on his mortgage.


Are you able to provide more details?

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#2267 punk cannonballer

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Posted 24 February 2022 - 01:21 PM

Like all those poor people who own stocks?

I suppose you think that when interest rates rise the bond market improves through fairy dust and magical wishes.



#2268 Moderation

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Posted 24 February 2022 - 03:13 PM

Are you able to provide more details?

Family lent down payment max mortgage.

 

Canadians stopped buying homes and prices fell, dropping continuously in some major markets from 1989 to 1996 (imagine, house prices actually going down). House prices in the Greater Toronto Area (GTA) dropped by nearly 34% from late 1989 to the start of 1991. 



#2269 Mike K.

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Posted 24 February 2022 - 03:35 PM

Oh yeah, good times!

I’ll keep that one in my back pocket the next time some tide pod eatin’ expert says all homeowners are filthy rich.

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#2270 MarkoJ

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Posted 28 February 2022 - 09:56 AM

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Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2021 | Fair Realty

www.MarkoJuras.com Looking at Condo Pre-Sales in Victoria? Save Thousands!

 

 


#2271 Barrrister

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Posted 28 February 2022 - 10:06 AM

Sales and listings close to last year. But I am getting a feeling that the frenzy is slowing down a bit.



#2272 Nparker

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Posted 28 February 2022 - 10:14 AM

Fewer active listings than new listings is not sustainable.



#2273 Barrrister

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Posted 28 February 2022 - 10:16 AM

Why is it not sustainable? Might not be desirable but I can see it continuing.



#2274 Mike K.

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Posted 28 February 2022 - 10:41 AM

Close? I dunno, last year had 1,318 listings, and this year they’re at 879, or 33% fewer listings. That’s a huge drop and last year was already a record-breaking huge drop.

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#2275 Victoria Watcher

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Posted 28 February 2022 - 12:23 PM

In what looks to be a bid to pre-empt the province imposing a cooling-off period on home purchases, the B.C. Real Estate Association has released a white paper offering the government alternatives for protecting consumers amid a red-hot housing market.

A cooling-off period would give buyers a limited amount of time to change their minds and cancel a purchase with little or no legal consequences.

Among its 30 recommendations, the paper suggests creating a five-day, no-offer period from when a property is listed that would give buyers time to research it before making an offer; creating a more transparent process for properties where there are multiple offers; making property disclosure statements mandatory and available when a property is listed; making all strata documents available with a listing; and raising entry qualification for new real estate agents.

https://www.timescol...e-sales-5109521

Edited by Victoria Watcher, 28 February 2022 - 12:24 PM.


#2276 Mike K.

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Posted 28 February 2022 - 12:44 PM

This is a solution desperately searching for a problem.


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#2277 MarkoJ

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Posted 01 March 2022 - 11:30 AM

download.png


Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2021 | Fair Realty

www.MarkoJuras.com Looking at Condo Pre-Sales in Victoria? Save Thousands!

 

 


#2278 punk cannonballer

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Posted 01 March 2022 - 01:10 PM

It seems very inefficient to try to hire your own inspection on all of the houses you're potentially looking at. 

I'd like to see properly regulated processes where the seller is required to provide a transparent, full inspection, title and particulars, permit history, etc up front to all potential buyers. I doubt there are enough inspectors out there to do five per buyer as they try to find a place to purchase.



#2279 lanforod

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Posted 01 March 2022 - 02:21 PM

Before you do that, you’d first need far better regulation and insurance for home inspectors.

#2280 Citified.ca

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Posted 01 March 2022 - 02:37 PM

Greater Victoria townhomes set $926,000 price record in February as houses, condos stay the course

https://victoria.cit...tay-the-course/


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