“I listed my home 3 weeks ago. We now reduced 20K as more listings have come out lower than ours. Have I missed the boat? The Realtor says keep lowering the price.”

Joe h at greaterfool.ca 23 Jun 2011 11:38am -
“I listed my home 3 weeks ago. We have had 2 showings.
Have I missed the boat? We just reduced 20K as now more listings have come out lower than ours. We purchased a home but on request of the Realtor did not put clause of selling our home. Can we get out of this deal? We are getting very worried now. I contacted my lawyer who is looking into this.
All the Realtor says is keep lowering the price.”

They own two homes in a falling market (somewhere in Canada, post doesn’t specify where).
We agree with the realtor, keep lowering the price.
Coming soon to a town near you. – vreaa

16 Responses to “I listed my home 3 weeks ago. We now reduced 20K as more listings have come out lower than ours. Have I missed the boat? The Realtor says keep lowering the price.”

  1. I’d laugh or cry but I’ve forgotten how. Bears just wanna eat.

  2. you dont know where, but you know it’s a falling market? there is so many unknown facts around this listing. what if the vendor overlist the place so much that the listing becomes staled? a very typical comment of bear VREAA. Right on Jesse, bears just wanna eat free stuff, as long as it fills up their bellies.

  3. We purchased a home but on request of the Realtor did not put clause of selling our home.

    1. If anybody had any doubts left if a realtor is working for you, here’s your answer.
    2. How can one be THAT stupid?

  4. Friends of ours just sold their home in West Vancouver for 1.55M. The new owners took possession and within a week it was back on the market for $1.7M. Seems the new owners haven’t sold their old property in Ambleside yet, so now are trying to sell any of the two properties. Just can’t feel any sympathy for anyone who does not put a clause in their purchase deal “subject to sale of property”. This just smacks of over optimism in a frothy market.

    • OK – now I can’t help but laugh – kind of like watching someone buy a 2Y strip of WTI when priompt popped 145/bbl – even he laughs about that blow up now that he’s on a new desk.

  5. 4SlicesofCheese

    Friend of mine had their 2 lvl 2 br concrete towhouse in burnaby expire after one price drop and several open houses.
    They plan to relist with another agent. I do not see much difference with a different agent.

    20k price drop about 5%
    Thats more then a year of my rent.

    • 20k price drop about 5%
      Thats more then a year of my rent.

      Yeah, but what do you have to show for your rent, I mean, they’re doing forced savings, Oh, wait…..

      • and they’re running out of land!

        think of the catchment areas!

      • I hear that St. Georges and UBC catchments include Dunbar.

      • 4SlicesofCheese

        And my bearish friends and I thought at their original list price the place would move very quickly.
        It was priced low we thought to com-parables.

        Was shocked at the price drop, even more shocked after the price drop and it didn’t sell.

  6. http://goo.gl/mszQE

    Sales of real estate in June are down 1.7%.
    I wish VHB was still doing his graphs.

  7. Pingback: “Friends of ours just sold their home in West Vancouver for $1.55M. The new owners took possession and within a week it was back on the market for $1.7M” | Vancouver Real Estate Anecdote Archive

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