Double Hot No Foam
Posted April 18th, 2010 in Real Estate, Sharing the Experience | 
Simmering
Often the pulse of Vancouver real estate is found in a cup of coffee.
Meet Up
Every so often a number of associates meet up for a coffee session. The coffee conversation is stimulating as it covers a wide range of topics real estate related from tech talk and legal issues, to market manifestations and of course the required amount of gossip.
Napkin Notes
Discerning the coffee stained scribbles from my crumpled napkin here are some snippets of which some are founded in reality and some on rambling rumor.
- phone calls slowing or have stopped
- the market is tipping
- change to a buyer’s market
- still multiples but only on the best of the best product
- fewer buyers prepared to pay asking price
- limited last minute buying due to rate increase
- rate increase versus lower selling price = same dollars out of pocket
- sellers unrealistic about change
- scanning versus faxing – best practice
- last minute sellers
- don’t get competition bureau as it’s been that way for years
- some agents refuse over priced listings
- some see a 10% – 30% drop in prices in the months ahead
- hopes for less frenzy, more realism
*Reminder to self – coffee soaked napkins don’t work well when making notes!
“Sellers unrealistic about change”.
So sad.
And then when the “pro” herd thinks they have it figured out the market does the opposite and climbs another 25% before fall …
Hi Larry
There are some mighty point-takers. I wish you can be more clear what is the source of them, posters to your site or real realtors, from the field, first-hands experience.
@salavari
if you are talking about the post itself those comments are from Realtors.
if you are asking about the comments to the post – they are for the most part, anonymous.
@jev
Bold pronouncement! Does that mean you are buying for the next week and then flipping before the appointed minute, hour and day?
Can definitely foresee a lot of sellers chasing the market down. Might take a few months for the market change to sink in for some people.
Larry
Of topic, but I have to recognize good work:
You have one of the best if not the best website for RE in Vancouver and wider. It not just the richness (considerable), smooth integration (next to none) with the MLS et all, but also the flawless integration of new features (nothing breaks, and the new feature is perfectly targeted)
Hat tip to the developers.
Question: how much it is automated and how much manual intervention is required to get it in this shape? I hope that it requires next to none manual intervention (I think that the dailies are manual, not sure what else).
p.s. I know its word-press, but great work nevertheless.
@asalvari – Thanks for the kind words… and the dailies are the manual item.
the designer/developer
[...] Vancouver Realtor Larry Yatkowsky’s post at yattermatters.com 18 Apr 2010 [...]
if sellers are not sharply priced, their agent should discuss their motivation to sell and suggest an alternative to pricing realistically – cancel the listing. that would reduce the inventory and be less confusing for the buyers.
[...] chandler, a Vancouver realtor, at yattermatters.com 19 Apr 2010 5:33 pm [...]