“A close relative of mine just bought a house near Commercial Drive. She can’t imagine prices dropping in the slightest– a flattening is the worst that she considers to be possible.”
- M—, at VREAA 31 Dec 2011 at 10:27am
Most don’t count buyers such as this lady as speculators.
That’s the main point of this series.
- vreaa
Just up the street from me, there was a house purchased a few years ago. Can’t remember the price, but, it has just been pulled from the market. The couple is splitting and “needs” to get their >380 K to clear. No offers. Right next door, a definite “fixer upper” sold about 4 months ago, probably less than the asking price of 269 K. The “fixer upper” is now back on the market for 359 K. Minimal and superficial work was done. Unbelievable. Both of the prices are a bit “off the wall”
We’re seeing some of that here in the Santa Cruz California Real Estate market as well. Lots of investors scooping up the foreclosures and even some short sales, and flipping them. Our values are holding better than other places in California too! Especially the Santa Cruz beach homes… there’s some great deals right now for investors.
Let me guess..you are a realtor.
Note how spammers like SB-G don’t even fit the spiel to the post.
Her comment left up for the record; US realtors were looking for Canadian customers circa Jan 2012.
she seems to have a website too!
http://susanbolstergrant.com