2695 replies to this topic

[Mike K.]

Yes, absolutely. Saanich East is hot right now. A local developer says they had 200 people interested in a single lot. You can read some more at: http://victoria.citi...-to-developers/

[lanforod]

Yes, absolutely. Saanich East is hot right now. A local developer says they had 200 people interested in a single lot. You can read some more at: http://victoria.citi...-to-developers/

Not quite the same area. Claremont is quite a bit further north, and won't see that same level of demand as south of Mt. Doug.

[MarkoJ]

Yes your property will be extremely desirable in this market. To protect yourself if you list delay offers for four days. For example, list on a Thursday morning. Open house Saturday and Sunday. Offers presented Sunday night at 6 pm. Marko

[Mike K.]

That home will be gone in no time, for sure. 

 

David, do you have an ocean view?

[MarkoJ]

That fact that it is a 2008 built will drive a lot of demand despite being a bit north.

[ovovov]

A few ppl i know recently moved from china, looking for newer homes looking at 1m plus homes close to good schools....

[VicHockeyFan]

I cry foul on the "controversy" about "shadow flipping" in Vancouver.

 

http://www.cbc.ca/ne...pping-1.3439475

 

Ya, if the real estate agent does something fishy, then by all means, he needs to be looked at.  But for people that say well, this avoids the property transfer tax.  Whatever.  You think the government ought to get their money, then get it again 30 days later?  For doing nothing?   They still get the tax on the highest (last) sale price.

 

People selling multi-million $ homes ought to know better how to protect themselves.

 

I don't buy the notion that this practice is driving up home prices, that fails the Economics 101 test.  If anything, this increases supply (which lowers prices) because even homes that have sold are "still on the market" when this practice takes place.

[jklymak]

^ http://vibrantvictor...housing-market/

[DavidSchell]

That home will be gone in no time, for sure. 

 

David, do you have an ocean view?

 

There are ocean views from the second floor ... the best is from the master bedroom as shown here.

Attached Images

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[insanelydeadlydisease]

Be sure to use a full commissioned realtor! You just can't spend too much money on commissions.

Edited by insanelydeadlydisease, 09 February 2016 - 03:11 PM.

[ovovov]

everybody talks about commission commission: I am going to post bit more about commission.

 

option 1: and 95% of the owners go with( which is silly in my view)

 

6% with first 100k+3% of the rest of the sale price( say 800k)= 6000+3%*700000=27000

if the buyer has a Realtor agent, the buyers agent get half of the 27000....( which is silly in my view, too).

 

 

option 2: sale with a reduced commission agent:( sorry guys, I cannot say the name the commission is way lower........ say $8000.....

 

~~~~~

 

the only value I could see ( fits my own needs) using a Realtor is get access/listed by MLS.... does it worth 8k or 27k? or even 1000?

your call my dear owners.......

[LeoVictoria]

I would like to do an experiment sometime in a hot market like we have now. List on MLS only for a few hundred dollars and do not offer any buyers realtor commission.
I think so many people have direct access to PCS or browse MLS on their own that you would still get a sale and a comparable price.

[Mike K.]

40% increase so far this February over last. Crazy.

 

[MarkoJ]

everybody talks about commission commission: I am going to post bit more about commission.

 

option 1: and 95% of the owners go with( which is silly in my view)

 

6% with first 100k+3% of the rest of the sale price( say 800k)= 6000+3%*700000=27000

if the buyer has a Realtor agent, the buyers agent get half of the 27000....( which is silly in my view, too).

 

 

option 2: sale with a reduced commission agent:( sorry guys, I cannot say the name the commission is way lower........ say $8000.....

 

~~~~~

 

the only value I could see ( fits my own needs) using a Realtor is get access/listed by MLS.... does it worth 8k or 27k? or even 1000?

your call my dear owners.......

 

This home would be well north of 7 figures based on the view and 2008 build so the commission is more like in the $33,000-$40,000 range.  It's only the price of a new BMW 3 series.....starting at $35,990

 

And your number at 95% is probably a little low....I am pegging it at closer to 97% of individuals are paying a BMW 3 series to sell their 1.0 to $1.5 million dollar home.

[MarkoJ]

I would like to do an experiment sometime in a hot market like we have now. List on MLS only for a few hundred dollars and do not offer any buyers realtor commission.
I think so many people have direct access to PCS or browse MLS on their own that you would still get a sale and a comparable price.

 

Personally, I 100% believe in saving as much as possible on the listing commission end of things from the perspective of the seller.

 

I am not 100% convinced on offering buyer's REALTORS® commission of nothing (technically you need to offer a minimum of $1).  Think about it, 97% of people, as illustrated above, pay a new luxury car to sell their house.  What makes you think the 90 to 95% of buyers working with a REALTOR® don't in full trust their realtor and what he or she has to say?

 

You can cut the buyer's REALTOR® commission a reasonable amount but swinging for the fences I am not a huge believer in.

Edited by MarkoJ, 10 February 2016 - 11:29 AM.

[AllseeingEye]

A few ppl i know recently moved from china, looking for newer homes looking at 1m plus homes close to good schools....

Happened to be at my lawyer's office today completing the conveyance and transfer paperwork on the sale of my condo; his office is on Shelbourne near Torquay and he commented that in that area "overwhelmingly" its Chinese/Asian customer demand that is driving SFH purchases particularly, including three homes he was involved with the conveyancing, none of which went for less than $40K over asking. 

[LeoVictoria]

Something to consider is that Gordon Head is about 1/3 Asian background so not necessarily outside buyers

[AllseeingEye]

Something to consider is that Gordon Head is about 1/3 Asian background so not necessarily outside buyers

In these cases LV he did the conveyancing; all three purchasers were mainland Chinese according to Rob. Not Taiwan or Hong Kong either, but mainland China. Not surprising in a sense since in the last 20 years they've experienced the largest social leap forward in human history with some 400++ million Chinese becoming "middle class" or better in < than a generation. And they have lots cash to burn....

Edited by AllseeingEye, 10 February 2016 - 09:00 PM.

[UDeMan]

There are cities in China that we have never heard of that have more people than all of BC.  All it takes is a few hundred well off families from all of these cities that want to come to Canada for a better life, environment, etc and it can drive the market in certain areas.

 

Chinese families also have a very high savings rate.  Although that might be changing with the consumer driven youth.

[MarkoJ]

There are cities in China that we have never heard of that have more people than all of BC.  All it takes is a few hundred well off families from all of these cities that want to come to Canada for a better life, environment, etc and it can drive the market in certain areas.

 

Chinese families also have a very high savings rate.  Although that might be changing with the consumer driven youth.

 

There are also cities in other parts of the world that you've never heard of where Chinese are buying as well.