New Tool In Town

Nobody but Nobody Does it Better

YatterMatters delivers and brings you Average Price per square foot. If you are searching for properties in the Homes for Sale section, you will notice a new addition beside each asking price – the Average Price Per Square Foot. The purpose – to give you an instant price comparison between properties.

Deeper

Dig a little deeper – it won’t hurt. Go ahead and click on More Information. There you will find tabs labelled as – Details, Map, Street View, Walk Score and now the Community SnapShot.

Snapshot

Inside you will find even more information about the area in which the property is located. You will find the lowest price, the highest price, Average, Median and of course the average price per square foot in the entire neighbourhood.

Exciting – you betcha! Why? Simple! Now in a blink you can instantly tell whether the home you are looking for is above, below or right on market pricing. No more guessing! It’s all here and it’s a Snap!

Keeping Up with the Jones’

You’ll even be able to tell where your Vancouver Castle ranks relative to your neighbour’s castles. High price, low price big and small it’s here now and it’s for you.

Snap Shot

Selling or buying you will find this a great tool to help figure it all out. Still not sure?

“I can’t help myself” – “make a Snap decision to call me and together, we’ll give it a Shot.”

After all, it’s what I do ‘when life moves you!’

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:

Ray Says:
March 3rd, 2010 at 12:07 am

Thanks – but all we want is last sold price and historical sold prices for this house and the others in the neighborhood. If you won’t give it to us, let’s hope this monopoly gets busted up sooner rather than later so we finally get access to data that helps us actually buy a house.

1 Says:
March 3rd, 2010 at 7:54 am

“keeping up with the Joneses”

yup, let’s see how this ends.

i look fwd to tonight’s dailies, they’ve been nice and bearish for a few days…but, i guess some of this can be chalked up to end of month/beginning of month (relistings) activity.

True Olympic sales stats should flow over the course of the next couple of weeks (delayed data due to subject removal), i wonder if we see a material (albeit perhaps short-term) drop in sales levels (which would elevate listings/sales ratio) for the first half of this month – LarryBear, any thoughs on this?

March 3rd, 2010 at 8:21 am

@ 1
– it’s possible

March 3rd, 2010 at 8:27 am

@Ray,
– did that slam make you feel better?
re:”so we finally get access to data that helps us actually buy a house”
Send me an email and tell me what you need. My fees are reasonable. 🙂

Best place on meth Says:
March 3rd, 2010 at 9:22 am

I saw “New Tool in Town” and my first thought was that Brad J. Lamb had moved here from Toronto.

Just kidding Larry.

Thanks for the new comparables, maybe your real calling in life is to devise a new service that will knock the MLS on its ass.

Somebody’s gotta’ do it.

March 3rd, 2010 at 10:14 am

@Meth –
– “knocking MLS on its ass” in my unbiased opinion (I do have one), will never happen – at least not in my lifetime. It is a massive machine requiring lots of little bees feeding it accurate (most of the time) information at an exceedingly low cost.

I can’t recall where or if true but, the mind says it was an IBM calculation that claimed the cost of data acquisition was 40% of the value of the data. If true, then there isn’t enough money out there to overtake MLS in accuracy, efficiency and value.

It’s agreed that it will morph with time as you are seeing now via IDX but, no one should expect it to be ‘handed over’. Simply, there are at least 90 years of legal and bureaucratic holes that need to be revised.

If what I understand is correct, the result of similar action in the states has been less than spectacular. At least that’s what my fellow southern Realtor pals tell me.

Your Humble Peddler 🙂

March 3rd, 2010 at 11:19 am

Hey Larry,

It’s nice to see a step closer to what you’re looking for in a comparison tool. Perhaps you can save listings and compare them together? PCS is now doing that and while it’s not perfect it’s a great start.

Is there no way to see a historical chart of the neighbourhood/property? I know you can look that info up, why can’t you just mine it from the database? I’m assuming it’s not in the same tables that you pulled the community records from but I’m sure your programmer could do a join sql request on your address field or addressid.

Rod

Ray Says:
March 3rd, 2010 at 1:59 pm

haha Rod. It’s not that the information isn’t there or that it’s hard to get to. It’s that he’s not allowed to show specific information from the database to the public. In fact, he might get in crap just for showing us the stuff he’s already showing us. And the more he treads the grey line the more likely he’ll be shut down. Wait for the monopoly to bust, then market forces will create the open database we all hope for. It’s coming.

March 3rd, 2010 at 2:10 pm

@Rod
– you may have noticed the disclaimers regarding MLS® data.

While your idea is a fine one and I’m sure many would love to have that information, there always remains the fact that what I do is a business. As such it has a bottom line called ROI.

Based on past and present comments the concept of real ROI does not enter the picture.

Thus, it falls back on, if I could – would I?

We all have budgets so please share with me how a business model that does not have ROI translates into real dollars. BTW advertising campaigns don’t pay the bills around here.

John Says:
March 3rd, 2010 at 2:22 pm

The information some of you are asking about can be found here, if you’re curious:

http://www.bcassessment.bc.ca/

Assessed value, previous solds by geographic location, etc..

March 3rd, 2010 at 2:25 pm

@ Ray –

FYI what is being displayed is not crossing any lines at all. In fact, what I had hoped to be able to provide based on internal data calculations, could not be be displayed due to what I believe to be an unacceptable ratio of erratic data. Even so, please note the disclaimer that qualifies the information given. Let me be clear! The usability of the information is contingent on understanding its limitations in accuracy.

Question for you re “It’s not that the information isn’t there or that it’s hard to get to”- if that’s the case, then why would you be asking that it be given.

Ray, methinks you have to do some home work on this. If the market forces are there, then why the statement above? Where are they if it’s so easy?

Ray Says:
March 3rd, 2010 at 2:29 pm

What the heck are you talking about? Only the 9000 people who took the real estate course are allowed to access that data. The rest of us have to contact one of them for some reason. Open up the database and I guarantee you’ll get a database (or multiple databases) with consistent information that CAN be reported on. Just like in the USA. We’ll get there – but it’ll take a lot of time and complaining about the monopoly.

March 3rd, 2010 at 2:49 pm

@ Ray,

Did I misquote you? You said “It’s not that the information isn’t there or that it’s hard to get to”

“The rest of us have to contact one of them for some reason.” Would that be because you are interested in buying or selling a home? If raw data is all you need then as @John said in his last comment, the data you seek is available from other sources and you will not be required to ‘contact one of them for some reason”.

What’s the hang up with MLS®?

FYI 87% of the listings in the US are on MLS® which is operated by the National Association of Realtors. It is not free and the majority of data is not accessible by the general public as you are I believe implying. So in retort, what are you talking about?

The balance of data derived from the Redfins, Zillow’s, Trulia’s et. al. is input by the Realtors directly or in lieu, there is agreement between them and some individual boards to upload portions of the data.

re: “Just like the USA” You may want to consider a cautious look at the problems consumers have experienced and may I be bold to suggest that you be careful of what you wish for.

Rod Says:
March 3rd, 2010 at 3:30 pm

As you said.. how does it translate into real dollars… ROI… I totally get what you are saying, sometimes a free tool doesn’t get you anything.. sometimes it gets you a TON of business. I dont understand how you couldn’t charge for such a tool. So what if you aren’t collecting the $$$$.$$ on a sale for not doing tooo much, you would get around $$.$$ for doing nothing. If you want a nest egg, it’s right infront of you…. just grab it.

I would do it if I had access… want to give it to me? 🙂

March 3rd, 2010 at 3:40 pm

@Rod –

Well – the tool is here and it’s free to use – the nest built if you will.

Waiting to count the eggs. 🙂

Re: Access – LOL! – nice, very optimistic.

Dan Says:
March 3rd, 2010 at 4:02 pm

As you know Larry I believe the data should be freely available but right now it is not.

This comparison is something I did manually when i bought my place so you are saving me time. Comparing is all that can be done to find out if the price is right, cause really who cares what it sold for 5 years ago, all that will tell you is that prices have gone up significantly.

Rod Says:
March 3rd, 2010 at 8:53 pm

@Dan

I agree with your first point. As the Realtors will point out that it shouldn’t be free access for all because it was all because of their hard work. Case and point: Microsoft was created and became a monopoly from their hard work just like MLS from realtors.. After a lengthy court battle M$ were told not to include IE as the sole web browser, msnlive an option as the standard search engine and so on.

MLS has prevented others from accessing information, creating apps to interact with that info (as Larry has denied me… haha I know Larry, I had no hope anyway .. 🙂 )

Just like microsoft, mls SHOULD be accessed and allow third party apps to partake in their space which would open up the market.

There will always be a need for Realtors, but this HAS to happen.. It just has to.

I disagree with your second point, I think it is important what prices were and what that unit went for. If it just sold last week and relisted to make a quick buck.. OR if it was bought and redone .. I would know to look for bad renos… Soo many reasons to know what the previous price was…. Others being.. How much are they willing to move? More information helps you determine what their motivation is for selling…

March 3rd, 2010 at 10:41 pm

@Rod – Hopefully, Dan will come back and play.

In the interim and for purpose of clarity – the Microsoft example is a familiar one and there are many more. What needs consideration is the difference. MLS® exists as a service provided by respective trade organizations for their members. None of the boards, provincial and federal groups are corporations and therefore are not governed by the same laws. As such, the service of MLS® by it’s nature, exists solely to serve members of their respective real estate organizations.

While a majority might believe that CREA runs MLS® and owns the data that is not true. CREA is merely the focal point at which the data is aggregated. The data site which you may be most familiar with is Realtor.ca serves as example. MLS® is the almalgum of the total sum of all the boards in Canada who ‘choose’ (remember that word) to cooperate (remember that one too) and supply data to the CREA site at members expense. Realtor.ca was created with the sole purpose of acting as an global advertising vehicle. Were each board or even the major boards, lets say Vancouver and Toronto, to secede from CREA – (this discussion has or is taking place and is a real possibility when you take into account that real estate is local in nature), and no longer choose to allow aggregation of their data, the dynamic of MLS® and it’s benefit to consumers as you know it today, ceases instantly.

Another reason – few boards use similar systems to control their regional data structures. I can’t think of one company today, that has sufficiently deep pockets stuffed with cash that would dare enter the mine field of over 100 boards governed by 96,000 members that operate different data systems in it’s attempt to provide a cohesive standardized MLS® for ‘free‘. That is the reality, and that alone, is sufficient to preclude your wish from happening.

If there is one exception to the above statement it would be Rudy Neilson of Landcor. With all the data Rudy has, it is to my understanding resticted to a provincial system. He runs a fee for service land consulting firm that amalgamates all BC land data but not an MLS®. I would note that to my knowledge there is restricted public access and there certainly is no freebee at Landcor. Having said that, Rudy puts out some of the best land analysis in BC.

To my point – simply, you need the cooperation of all 96,000 agents who via their membership, control the 100 boards that exist for the sole purpose of acting on their member’s wishes. Without those 96,000 member’s willingness and cooperation you are out of business!

Suffice to say, Realtors® by nature, are a very independent odd bunch. The glue that keeps them together is a bunch of rules wrapped up in 50 years of MLS®. Strip away that fragile glue and in my opinion all hell will break loose. Who will suffer should this happen, there is no doubt in my mind that in the majority, it will be the consumer. So while a few think and desire that the data should be open sourced and thereby allow them to fiddle with numbers, I think you will agree that the chance that this will happen is slim.

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