“I’ve been talking about selling my house for a couple of years in anticipation of the bubble bursting. Next week I’ll have it on the MLS. My timing is interesting. Yesterday had the feeling that it has definitely started. Perhaps I have missed the boat.”

This poster gives us the first taste of the opposite of the fear of being priced out forever, namely, the fear of missing out on profits by selling too late. -vreaa

Bailing in B.C. at greaterfool.ca 30 Mar 2010 10:11 am

“I’ve been talking about selling my house for a couple of years in anticipation of the bubble bursting, finally about 3 weeks ago I started talking to a realtor and decluttering the house. Tomorrow I have a handyman coming over to do some exterior clean up. But I couldn’t wait. Yesterday afternoon I went outside and put a for sale by owner sign up. By next week I’ll have it on the MLS. My timing is interesting. Yesterday had the feeling that it has definitely started. Perhaps I have missed the boat. Oh well, hopefully there is still a couple of greater fools floating around. I’m just glad the house is paid off and I have a basement suite.”

5 responses to ““I’ve been talking about selling my house for a couple of years in anticipation of the bubble bursting. Next week I’ll have it on the MLS. My timing is interesting. Yesterday had the feeling that it has definitely started. Perhaps I have missed the boat.”

  1. I think it depends on the list price. Under 400K and you still have a good chance. Over 700K and you are probably out of luck.

  2. LOL at the above comment.

    He better get that thing sold quick, the rental suite is only a mortgage helper for the next 3 weeks, then it doesnt help the buyers much in getting a higher mortgage.

  3. That is only if the buyer needs CMHC financing.

    In any event, the window is closing quickly. Listings will be over 15,000 tomorrow – Happy April Greater Fools Day.

  4. I dont think many people who are buying a place with a suite wont need CMHC’s help. You need 20%, and any place with a rental suite west of surrey will probably run at least 500K. That means they need 100K in the bank. Anyone thinking of buying in this market probably doesnt have the patience to save up 100K.

  5. Bailing in BC

    Yoga and Davers here is an update on my great adventure in real estate sales. We are asking $535000 for the house. Quite reasonable for the area. Not that anyone knows this as we have not had ONE enquiry to our fsbo sign. I was expecting at least a couple of nosey neighbour calls and more than a few calls from realtors trawling for listings. But nada. As I said next week it will be listed and we will see. I must say I am not hopeful, but fortunate to be in a position were we don’t need to sell. We sold our investment property in the Summer of 08. Really. all that this sale would do would give me the opportunity to feast on the carcass’s of the less fortunate in a year or two. Perhaps it is better for my soul if we can’t sell. Then I can just potter in my garden and be content with what I have.

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