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

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The Vancouver Condo Market Seems to be Shifting to a Buyers Market?

Vancouver Condo Real Estate Video Blog #681 - August 2, 2011


The Vancouver Condo Market Seems to be Shifting to a Buyers Market?


Ian Watt video blogs about how the Vancouver condo is slowly shifting from a balanced market to a buyers market which is great news if you are selling your house and downsizing to a condo.  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 2011 iWatt Media.


Ian Watt: Hi good afternoon it's Ian Watt in Downtown Vancouver. It looks like, well another were in August looks like things are cool in Downtown just a little bit. Now an average so far this year I think were in our 31st or 32nd week of the year we are seeing on average ten sales a day in five different areas. That's means two sales a day and everybody is looking for a bargain everybody is looking for a deal and offers are coming in a little bit lower than we expected and that's what makes me think were something to shift in a buyers market as far as condos are concern. When the buyers market happens it means that everyone's got to be price so sharply. It means we can't be offended by low ball offers coz' hey in a buyers market who wouldn't put a lower offer in. That's just the way it works. The buyers have more options and that's the way in negotiations happen whoever house more options always wins in the price negotiation. If there is so many condos for sale and were seeing about twenty, twenty five a day coming out bunch of terminations and only ten sales. That leaves me to believe it's becoming to a buyers market. Were not seeing prices go up we haven't seen prices go down yet but that's what happenings in Downtown Vancouver. The buyers have all the power. 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!