🇨🇦 Canadians Buy & Sell Real Estate Like Sheep 🐑
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- čas přidán 9. 04. 2024
- Consumer psychology plays a MASSIVE role when it comes to buying and selling residential real estate. Much like the stock market, when the market starts to dip, buyers tend to shy away, yet when the market is heating up, FOMO pushes buyers into the market in droves.
In this month's Surrey Report, Surrey Real Estate Specialist, Steve Karrasch of Macdonald Realty discusses how time in the market will always beat timing the market and the importance of buying real estate when it makes sense and the time is right for you.
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Benchmark Prices: (Surrey Combined) (+/- yoy):
🏠 Detached = $1,646,900 (+8.0%)
🏘 Townhomes = $886,300 (+7.0%)
🌆 Condos = $548,600 (+3.7%)
#SurreyRealtor #SurreyRealEstate #FVREBStats
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The opinions expressed herein are solely that of Steve Karrasch PREC and not Macdonald Realty or the FVREB and should not be misconstrued as advice or the basis of an agency relationship whatsoever. Please consult your professional advisor prior to taking action on any decisions relating to the matters discussed in these videos. This communication is not intended to cause or induce breach of an existing agency agreement.
Are 🇨🇦's like 🐑when they buy 🏘?
Canadians are stupid because they are debt slaves. They're often owing their pants to a big bank or are overleveraged in real estate. Lots of them will soon crumble in the upcoming downturn.
I have been going against the grain my whole life, but to buy now is not the time
For who?
I took the opportunity during this slower market to move from a townhouse into a detached house.
Purchased in Dec 2023
Priced well, and still purchased below asking price with subjects to inspections.
I’ve stopped watching interest rates.
We have a housing supply problem that is not going away anytime soon.
I feel confident with the move.
The market is down, and he wants you to buy. He has a $30K plus reason to get you to buy. Don't fall for it. lol
$30K? Are you buying 3 properties?
30k for selling three houses? That's pretty obscene
Haha buy when market is hot. Buy when market is cold. Cmon guys. Listen to the realtors!!!
Never buy. Listen to the comments!!!
@@SteveKarrasch lol
Lol, id buy to my limit anytime because it's an asset with tax advantages and huge disadvantages to increasing supply easily. Those sheep are glutenous. Great team Steve. I'm considering moving to Surrey just to work with you and your team!!! Well maybe not
I bought in Sep 2012, Jun 2017 and Jul 2023. I've been blessed so far.
Canadian dream
I bought in July 22 lol.
Good video Steve ! Well said !! 👍
Real estate is just like the stock market. If you go against the grain, you will do better. In the stock market, when the volume is high and prices are trending up, you sell while when the volume is high and the price is trending down, you wait until it the volume of transactions stabilized, then you buy. This is the best timing compromise. There is no way to exactly predict when the price will peak and when the price will bottom out.
The last few months, Vancouver real estate volume reached a low point and and stabilized, it is a good time to buy and hold. I did,. Got a 2bd 2ba in a prime location at 2019 price.
Realtor just told me yesterday market is picking up again
Must not be in my market.
Don't bullshit me.
Non-Canadian, sarcastically: I’ve got some ocean front property in Arizona…
Canadian: How much?
My realtor told me to buy last month before BOC cut interest rate today to beat the rush! Luckily I did not listen to his b.s!
what rate cut? they held
Haha, you'll be singing a different tune in 2033
@@DTrent-uy1wl Yep, inflation and our shitty dollar will take everyone's primary residence value up close to 2x by then. Better get in now.
Nope, paid off Principle residence with cash flow, equity and the Smith manuever. I was 30k in debt in 2009. No comment on net worth now. Your crystal ball is failing, did you borrow Bill Ferguson's?
We bought 5 years ago when there was a bit of a lull. Before nothing but grow ops and buyer frenzy.
2019 was sloooowwwww
Always do the opposit:)
I bought a home in TO during the pandemic when everyone left the city.
Sold my small city home during the pandemic height. Then, the market outside TO crashed in 2022-2023.
Now im selling my TO home at its high before it crashes and buy back in my old town with $300k+ more in my pocket. I will be mortgage free.
Im a realtor. I know what im doing. Always do the opposite of what the market is doing, and u will win 9/10 times :)
Good luck, folks!
If you are not mortgage free in the next 24 months, you will lose big, mark my words.
Marked.
better watch that flipping tax in the future lol
I would just like to point out that it is a flock of sheep not a herd 🐑
I will never sell my Guildford TH. I believe is going to surpass 1M in 4Q of 2025
Very possible.
Isn’t it already surpass 1m
I am GOAT and warren buffett is getting old
getting?
@SteveKarrasch he's been old for 50 years
@@cornstar1253 he accumulated 99% of his wealth since he turned 50. There is hope for your Steve and Trent
Sorry, your analysis is way too simplistic. I couldn't watch it all too the end of it. Not sure, who's your audience 🐑🙄
Looking forward to your next, more complex, video.
Steve's the best! You'd be very happy in 20 years if you do exactly what he does.
I think your video is two weeks late m. When I started looking, most inventory I was looking at was on the market 30+ days all over, and prices were dropping. So based on your March numbers, my experience was the same.
But in April that has flipped. 6 of the properties I went to look at this weekend were on and off the market within 5 days, including 2 different properties I was actually in on. To my totally uneducated eye, the market in my neck of the woods in Abbotsford has quickly balanced in a matter of weeks, at least in condos. B
A day late and a buck short.