Sages

Having time to reflect on complicated issues while bathing in the warmth of the sun is a pleasure. Deciding who is right and who is wrong is much more complicated? Prone we are to rely on opinions expressed by those we consider to be wise men and women. We look to them to help us find answers and understand that which lies ahead. As methodology, things haven’t changed. Throughout history we have looked for guidance from those considered sage.

Housing and Bread Lines

It’s been said before in previous posts that Averages, are always a little scary. As a snap shot indicator they can prove beneficial rarely however, are they a complete picture.

Last month it was noted from Realtor reactions founded in east and west side sales made you might think we were back in 2007. In recent weeks the tone has changed with more Realtors and buyers getting grumpy. For Realtors working with Buyers, with decreasing inventory, the hunt for suitable product is frustrating in the extreme.

Buyers should expect that product considered acceptable to them is often considered acceptable by many others. The result is a scramble to be the first player. Often sold quickly via multiple offers, havoc, stress and discontent for all parties except that buyer who pays the most and the seller prevails. For the majority, it is simply, not a fun experience.

The hunting exercise conjures the image of people lining up at the local bakery to buy a loaf of bread. Patiently, they wait for hours in line, only to find that when it is their turn at the counter, the last loaf was sold to the previous person.

Dunbar 30 Days

Dunbar Detached real estate during the past 30 day period of May 30 to June 29, 2009 showed a little gusto in average sale price increasing from $1,415,420 to $1,465,832. The Median Sale price matched this bump rising $1,231,000 to $1,348,000. At the low end, which in other cities in Canada would be considered very high, a home on King Edward sold for $750,000. Price reductions also decreased from 14 to 11 properties. Overall, the May to June period saw some happy sellers in Dunbar.