How Many Homes Are REALLY Selling? And For How Much?
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- čas přidán 30. 04. 2024
- With the Spring market seeing a flood of properties hitting the market, what is selling and what is not?
In today’s video, Surrey REALTOR, Steve Karrasch of Macdonald Realty conducts a search of the Fraser Valley Market to gain an idea as to what is selling this Spring.
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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.
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Hello Steve, thank you for the wonderful videos and work. Please make more videos explaining inventory added/active in the market, sold, forecast for next 1-2 months. Kindly make this as a weekly videos/updates.
glad to see you more consistent sir you have great things coming your way
Well done video!!
Nicely presented and easy to follow/understand.
Thanks for the honest vids Steve.
Subscribed, and been watching for awhile.
How close have sale price been to listing price in the last few weeks Steve.
I am now looking for a TH, Thinking I just might give you a shout. I like your honesty
Great content!
Just thought I would let you know that I put in an offer on a Maple Ridge home that was listed at 1.349 today for 1.365M; it was a multiple offer situation with 4x others offers, and this was our opening offer. We were planning on going up to 1.38.
Someone came in over the top of everyone else and offered over 1.4M, no subjects, and had a bank draft in hand.
Do you think it was listed artificially low?
@@SteveKarrasch My agent thought it would go towards the higher side of 1.35 to 1.38; the selling agent apparently thought it would land at 1.38.
We've enquired about artificially low listings before and this one didn't seem like it was significantly under priced.
I do think it was pretty special in the market, ground level suite (although un-authorized) was nicely renovated, and a good floor plan upstairs.
Our best guess is that someone bought it for multi-generational living and so the buying math was a little different for them.
Ravi must be beaming! He is probably thinking his policies have a lot to do with the bump in listings. Are your sales a similar ratio? Or do you do more of one class than the other?
We are detached heavy at the moment.
It’s already buyers market. Majority home sold at below listing price.
That's just a normal market.
Yet, I don't really see media or many realtors talking about purchases under asking. When there's multiple offers, it's talked about all over social media about how hot it is, and how people should fomo
With rate cuts being less than expected or possibly not coming at all in 2024 we're going to see a MASSIVE flood of distressed sellers flooding the market with inventory..
Expect to see prices drop like a stone over the next year..
Been hearing this for 20+ years. I'd just buy when it works for your lifestyle.
Whats crazy is that all of these realtors and sellers think that they can still ask for Feb 2022 prices when interest was ZERO percent. This is not a reality anymore and I really hope that the sellers and also realtors/mortgage brokers get SLAMMED by reality!
The crazier part is some areas have already surpassed Feb 2022 pricing. Like Vancouver Condos.
@@SteveKarrasch I heard from others that condos in Vancouver are not selling. Do you have any data on this?
I do. Going to explore the difference between the Vancouver and Fraser Valley markets on an upcoming video.
In fact, did you know that the peak of Vancouver real estate was not 2022 but rather 2016?
@@SteveKarrasch so is now a good time to buy? a pied a Terre in DT Van and a summer home in Parksville/Qualicum(Toms Coquitlam)