"The people I am talking to in the Downtown Vancouver Condo market are not panicked and looking to bailout. They are looking to sell after the Olympics in the Spring market."

Can the market tell the difference between sellers who are “panicked and looking to bailout” and those who are “looking to sell after the Olympics in the Spring market”? Supply is supply. -vreaa

This from MikeStewartRealtor (realtor) at RE Talks 21 Dec 2009 10:37 am -

“I met with a prospective seller a few days back. We were talking about what will happen after the Olympics and she asked me if there are lots speculators hanging on by the skin of their teeth looking to flip after the Olympics. And my answer was “No”. The people I am talking to in the Downtown Vancouver Condo market are not panicked and looking to bailout. The people I am talking to are looking to sell after the Olympics in the Spring market, which tends to be a good time of year to sell real estate. Nothing out of the ordinary here.”

habs100 adds at 11:06 am – “I have a few friends who unloaded/are unloading their downtown condos right now. One actually sold his brand new condo a month ago… Barely broke even after all the expenses.”