Vancouver Realtors Chat About Hot Market - "CRaZY", "I got 11 calls while I was in yoga", "Homes are hotcakes", "Exhausting couple weeks and now I'm off to bait mice in my investment property"

#YVRREChat on twitter, 8 Mar 2011 9am-10am -
Scott Dawson (Mortgage broker): “We’re 10 days away from the new mortgage rules coming into effect. Has anyone seen a rush in the market because of this?”
Leah Bach (Realtor): “absolutely CRaZY yesterday!!!”
SD: “Word is lenders are getting busier as well. Allow extra time for subjects if possible.”
Jamie Gale (Mortgage broker): “Absolute insanity! I had more re-fi requests this past week than I did all of February.”
LB: “I am not entirely sure it is do to the new mortgage rules. It just maybe the onset of the spring market.”
SD: “Spring is always busy I predict it will continue after the new rules too.”
LB: “I would agree. I got 11 calls while I was in yoga.”
Heather Stewart (Home-stager): “I’m hearing about lots of action from mortgage brokers this week…”
Gary Jones (Financial advisor): “I think we are going to see an oozing bubble. No giant drops but small decreases.”
SD: “I’ve never heard the term ‘oozing bubble’.” [That makes two of us... bubbles never 'ooze', they implode. -ed.]
GJ: “Of the busy calls how many of them are buyers and sellers? Or just people concerned about new rules?”
SD: “I’m not currently working with clients that are impacted by the new mortgage rules.”
TMB Realtors (3 realtors): “The 5 year qualify seems to me to be a larger hurdle than 30 year amortization. Was that a big adjustment?”
SD: “I would say the qualifying rate has had a bigger effect than the 30 yr amortizations.”
Jeff Poh (Realtor, Burnaby): “I slept in, exhausting couple weeks and now I’m off to bait mice in my investment property, yay :/”
Andrew Hudson (Realtor, Metro Vancouver): “In my hood, homes are hotcakes. A week is a long time on the market right now.”
Rossana Wyatt (Mortgage broker, London, Ontario): “Wow, amazing. Not here.”
AH: “Mostly (almost exclusively) Chinese buyers. I think it was Pasquale Sasso [Richmond Realtor] looking for a Chinese translator last week.”
Mark Attar (‘Property management’): “There was an interesting story in the Sun or Prov yesterday about Chinese gov restricting spec causing our market to gain.”