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Ian Watt Personal Real Estate Corporation - Sotheby's International Realty Canada

Blog by Ian Watt

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Don`t be Too Fixated On the Rare Anomalies in The Vancouver Condo Market

Vancouver Condo Real Estate Video Blog #418 - October 6, 2009

Don`t be Too Fixated On the Rare Anomalies in The Vancouver Condo Market

Ian Watt Video blogs about how some sellers are fixated on these sale anomalies which are completely unique and sometimes unrealistic to happen again. 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.

Ian Watt: hi Good Morning, it's Ian Watt in Downtown Vancouver. With every type of listing in every area, there are anomalies. There are things that sell outrageously high. There's always one that sells outrageously low. We don't really understand why they have the motivation to sell it at that price or why anyone would buy way above the average of that price. That's why when we do a market analysis we always take the averages. And there probably ten comparable sales which we understand. That's were gonna probably sell for the next property. But you gotta look at it also is the one at the top, the one at the top is the one that everybody talks about and those in the unusual ones or the one way at the bottom everyone talks about. But the averages is where most likely the next sell is gonna take place. So if one person comes in and says: you know what I just sold this one for this price, we gonna dig a little deeper and find out why it sold for that price because who knows maybe it was just one of those freaky incidence that somebody was totally unaware or had no knowledge of the market value of the property. My name is Ian Watt. If you wanna discuss the prices in Downtown Vancouver. You can always email me at ianwatt@ianwatt.ca. Thank you very much and have a great day!