Vancouver Condo Real Estate Video Blog #727 - August 13, 2012
The Number One Reason Your Vancouver Condo is NOT Selling
Ian Watt video blogs about The Number One Reason Your Vancouver Condo is Not Selling. Some people blame the realtors, some people blame the market, some people blame the tenants but The Number One Reason Your Vancouver Condo is Not Selling is THE PRICE. If you want to voice your opinion or if you don't care for Ian's comments please email your feedback to ianwatt@ianwatt.ca and visit http://www.ianwatt.ca/RealEstateVideos for all the Ian Watt Real Estate Video Blogs. Please note that opinions, real estate practices, prices and data always changes over time, so please keep in mind the date when this video was published as the information could have become irrelevant over the past days, months and years. Copyright iWatt Media © All Rights Reserved 2012.
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Ian Watt: Hi good afternoon it’s Ian Watt in Downtown Vancouver. Please keep in mind that the market is changed. We’re seeing in some areas a decrease of about 5% as far as prices are concerned we’re seeing things that were selling basically around the 425 marked selling under 400 now. They’re definitely good deals but we’ve kinda seen it well for now I don’t know what’s gonna happen in the future but plato about of 5% drop and a lot of people are saying why aren’t my places are selling, why we aren’t getting showings. Well I definitely tell people we should list at this price of course every seller thinks their place is worth a lot more so we list a little higher and we don’t get any showings. Very indicative our price is off but there other reasons why your place might not sell. There could be tenancy problems, can’t get in there the tenant is not cooperative, could have terrible photographs but I got to tell you the number one reason in any market, in any city, in any place around the world that your place is not selling and especially your Vancouver condo. The number one reason it is not selling is because it’s overpriced and that is the reason and of course the average days I believe is 44 days on the market for the ones that sell but there a lot that is cancelled and re-listed and eventually to get the price right and they sell in 44 days some sell in 1 day some in 88 but you have to keep in mind you have to price a property and if you’re wondering why your Vancouver condo is not selling is because it’s overpriced. My name is Ian Watt and if you have any questions you can always email me at ianwatt@ianwatt.ca. Thank you very much and have a great day!