Vancouver Condo Real Estate Video Blog #558 - June 2, 2010
High Number of Price Reductions Are The Big Market Indicator For Vancouver Condos
Ian Watt video blogs about about how we are seeing a hight number of price reductions in the Downtown Vancouver condo market which is a lead indicator to where the condo market is headed for the areas of Coal Harbour, Downtown, Yaletown (False Creek North), Gastown and the West End. If you want to voice your opinion or if you don't care for Ian's comments please email your feedback to firstname.lastname@example.org and visit http://www.ianwatt.ca/RealEstateVideos for all the Ian Watt Real Estate Video Blogs.
Ian Watt: Hi Good Afternoon. It's Ian Watt in Downtown Vancouver. We have been talking about the ceased the Olympics the amount of listings that have been coming out has been incredible. There's been so much inventory, mortgage rates are really low so activity is been pretty good. However, were starting to see a lot of price reductions. I said it in yesterday's video that price reductions are going to be the tipping point that changes our market. And I really do think that were in for a little bit of a change as far as pricing is concern a bit of a correction in Downtown Vancouver condos. Of course we all see out in the news on the West side how is it going into multiple offers but that's not happening in the Downtown core. It's not as hot is that. There's a lot of inventory and as you know most condos are pretty generic from one level to the next to the next. So I did a video couple years back call the number one reason your condo is not selling. I got to put that video on, yes I have less hair now. I got to put that video on right below this video. So make sure you have a look at that but that is what is going to take to sell your condo in today's market. Its all about putting it on at the right price. Don't look at the past sales of something six months ago because if nothing is sold like it in the last month or two months. Maybe we should come in a little bit lower. That's all I'm sayin'. Pricing is everything in Downtown Vancouver right now. My name is Ian Watt and if you have any questions. You could always email me at email@example.com. Thank you very much and have a great day!
Vancouver Condo Real Estate Video Blog #153 - October 6, 2008
FROM OCTOBER 2008
The Number One Reason Your Condo Is Not Selling
Ian Watt: It's over Priced.