Vancouver Real Estate – Of Roses, Death and Cycles

Official

We regret to inform you.

In the past 12 days, the Vancouver west side detached real estate market died.

Say It Ain’t So

Each day, the blushing love for Vancouver’s west side real estate faded. A total of twelve days evidenced statistical blood lying on the floor of high priced glories past. The suffering unparalleled, cried out for Buyers.

White Screen Blue Screen

The news came as a flash of white. Personal computers were once notorious for flashing an ominous Blue Screen when something died. In disbelief you’d sit numbed by the color as your brain formed expletives that rhymed with Water The Flowers. Today, the Board statistics were the message. Vancouver west side detached solds were a white screen. No reason, no details, no numbers, just white!

Everything Seemed Ok

Previous check-ups showed local economics in place, people shopping for Christmas, Vancouver 2010 Olympics going forward, people working, lights turning on, iPhones taking calls, but no buyers for West Side homes!

Telling Emptiness

During the past 12 days, Vancouver West’s detached 968 listings recorded zero sales.

Buyer Pulse

Without buyers, the rose bled, left without a pulse. For 12 days, Buyers abandoned purchasing Vancouver West homes leaving only recorded statistics marking time of death.

A Cycle

Some say a rose’s beauty is immortal and survives adversity. Then like the Phoenix, these 12 days are but a cycle, from which the rose will rise once again as Buyers return to grasp it’s beauty.

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I’m always happy to answer your Vancouver Real Estate question? Call or send me an email Twitter or Skype me at YatterMatters.

Larry

*Disclaimer: Statistics Courtesy REBGV. While believed to be accurate they are not guaranteed. **Numbers provided may vary as they are dynamically posted by the REBGV.


 

About Larry Yatkowsky

Larry is a recognized real estate expert. A veteran professional, his experienced counsel leads Vancouverites in his west side community to place their trust in a man passionate about his work. Uncompromising ethics bring a balanced approach to realizing your real estate dreams.

When Life Moves You - contact Larry:

*Disclaimer: Statistics Courtesy REBGV. While believed to be accurate they are not guaranteed.
**Numbers provided may vary as they are dynamically posted by the REBGV.

Reader Comments:

November 13th, 2008 at 5:59 am

My condolences friend.

joe macintosh Says:
November 13th, 2008 at 1:07 pm

sorry larry, the market has dried up my friend,,mcdicks is hiring…large fries with that please!

November 13th, 2008 at 4:23 pm

Joe – formerly known as MacIntosh ,

Your wit supercedes your insight!

Sorry, I won’t be able to stop in and say Hello.
It’s on my list of no-go eateries.

I am however, impressed with your zeal as a true blue corporate employee.

As noted midway in your comment, I’m impressed that you would go to such lengths to keep your job. Was it really necessary to change your last name?

blueskies Says:
November 13th, 2008 at 6:09 pm

great post!

your quintessential “Wile E Coyote” moment…….

next frame: can you give it poetic justice

November 13th, 2008 at 7:14 pm

Blue,

LOL @ Wile – yeah it kinda had that splat sound. 🙂

As in the cartoon, this market, like Wile, will rise again to chase the Road Runner.

re: poetic justice:

In the interim, I suspect there will be a few more cliffs for Wile to fall over before that happens.

hint: watch the Insight and Alexa graphs noted a few posts back for indicators. When their trends change get on your BUY pony and ride!!

November 13th, 2008 at 7:40 pm

Jeez, 968 to zip it sure looks dead. But don’t give up hope, break out the defibrillator and see what happens.

November 15th, 2008 at 9:52 pm

Buyers have nothing to lose by waiting,,, looks like this will go on for a while.

nicalisa Says:
November 18th, 2008 at 7:35 pm

I really think that this will not go on forever. Are people waiting what will happen in the new year? Yup. Will people in droves be listing in the spring? Yup!
Will people still buy homes? Yup!
Maybe only 50% of what was bought last year.
Maybe for less $$$
and Maybe only the homes that show well and are in good repair.
So the note to buyers is to price well, show well, and be prepared to wait.

November 21st, 2008 at 8:47 pm

Nicalisa,

There are many who are pinning their hopes on your optimism. While in concert with your thoughts what remains is to determine the “when” this will happen.

Right now there so many economic cards in the air that many dare not speculate on the certainty of the date.

James,
Haven’t done the calculation but there is a value crossover between paying rent and slowly increasing your equity even in a down market.

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