5833 replies to this topic

[Victoria Watcher]

The commission is also worked into the sale price, so for the seller it’s a bit of a wash.

 

not so sure about that math.

[Szeven]

For $10k you can corner the market yourself with advertisements, and blanket the town for $20k.

But 99% of home sellers prefer to raise their sale price to pay for the agent, the buyer’s agent, handling communications and the whole process, and just sit back.

Of course. To me it's just indicative of how messed up housing is. People only behave like this when there is lots to go around.

[Mike K.]

You bring up an interesting point. Are agents more active in good times, or bad times, and are commissions higher, or lower if times are hot?

[Mike K.]

not so sure about that math.

Family friends are selling a home right now. They listed for $80k higher than they’d like to net, to cover the commissions, closing costs, and have some room to move down if the listing requires it.

[spanky123]

Family friends are selling a home right now. They listed for $80k higher than they’d like to net, to cover the commissions, closing costs, and have some room to move down if the listing requires it.

 

The market is the market. 

 

Those who try a FSBO find that every whack job comes out of the woodwork thinking they can score a deal from an uneducated seller. Massive time sink and of course the risk of getting done over.

 

A decent realtor will screen buyers, has access to a much broader market then you or I do and also knows buyer intentions and budgets.

[sebberry]

I'm on the fence about listing again.  (Marko cringes) But a mostly lateral move into a suitable place would be about 30k over budget.  

[Sparky]

Wouldn't an additional $130 a month mortgage payment be worth the peace of mind?

[sebberry]

Wouldn't an additional $130 a month mortgage payment be worth the peace of mind?

 

I can afford about 50k more than I sell for depending on the strata fee of the destination.  For the most part, that's a reduction in quality of location and size.  I see a new one that just popped on the market that would be good, 70k more than I anticipate being able to sell for but super low strata fees (for now) which would make it work.  Looking at what's happening now in the market, I expect it to sell 30k over list, or 100k over my selling price.

[Mike K.]

The market is the market.

Those who try a FSBO find that every whack job comes out of the woodwork thinking they can score a deal from an uneducated seller. Massive time sink and of course the risk of getting done over.

A decent realtor will screen buyers, has access to a much broader market then you or I do and also knows buyer intentions and budgets.

Oh yeah, totally. FSBO is also off-putting to many buyers who don’t want to deal with an owner or owners who may be very emotionally attached to a property or have expectations that just aren’t reasonable.

[Barrrister]

One agent told me that they are starting to see the market flatten and slow. The frency in the 2 million and up does indeed seemed to have slowed a bit. Is it meaningful, not sure.

[Mike K.]

I believe it. There’s so little inventory right now, that if you can afford a home valued at $1.1-$1.3M you can afford to wait a while for the perfect offering.

[Barrrister]

I am not sure that 1.1 buys you anything close to perfect.

[Szeven]

FSBO is a total joke, I agree.

 

The thing that works so well for Realtor's to me is the fees come off right when people are at their least aware. Writing a cheque for $35,000 versus seeing some line about something on a lawyer form where the bottom part says you are getting $938,000.00 is a lot different psychologically.

 

Realtor costs are not variable with the price of housing. With one swipe of the pen the government could put caps on fees, but there is just no appetite because like I say no one cares about some line on a piece of paper from a lawyer when the bottom says a number you could never have even dreamed of.

[Mike K.]

^^Ok, Thurston MacKenzie-McMahon III.

[Victoria Watcher]

^ ^ realtor fees are not fixed though.

you can find cheaper realtors than the most popular rate.

[max.bravo]

I maintain that people don’t mind paying realtor fees because housing profits feel like funny money, so shaving a little off the top hardly feels like a cash grab. Every house I’ve owned and sold made me a lot of money- none of it I felt I’d earned. It’s not hard to give some of that to the person who put that money in your pocket for you.

[TFord]

Speaking of Royal Bay 

 

I was out there a few weeks back, my goodness it was chilly! A fierce wind was coming straight of the glacier.

 

900k for a cookie cutter in the old gravel pit. Almost a million bucks, laughing. Won't be long till the cracks start to show.

 

fools and their money eh

 

TFord

[Mike K.]

It won’t be long until all the glaciers melt, though.

[Barrrister]

I am not nearly as negative about Royal Bay especially for anyone with a family. 

For what it is worth it was bloody cold up in Rockland with a wind howling as well. 

Once the shopping mall is build it should be a lot more appealing. Yes it is a reclaimed gravel pit and a lot of Fairfield is reclaimed swamp.

 

The price is high but so are construction costs both for material and labour. .Is it the best value for a young family, I am not so sure. Certainly the inner core is starting to look like crap in terms of raising a family with prices that border the insane. 

[Victoria Watcher]

New figures show Canadian housing prices outpacing those in other developed countries.

 

According to figures appearing in The Economist, Canada led a group of seven developed countries as measured by real housing prices. Starting from a base of 100 in the first quarter of 2000, Canadian housing prices have risen by a factor in excess of 2.5.

 

 

 

https://www.vicnews....g-in-the-world/

Edited by Victoria Watcher, 19 April 2021 - 05:51 AM.