Realtors Confide: “Sales have slowed!” and Ask: “Was the spring market over before spring arrived?”

Larry Yatkowsky, local realtor, recounted the main points from a chat with fellow realtors 21 Mar 2011 [thanks Larry] –
“# March 18th’s end of the 35 year amortization may have a greater affect than previously thought
# Sales have slowed!
# Early outlook, expect March numbers to retrench
# Happened fast prompting the question – was the spring market over before spring arrived?
# buyers are indecisive
# interest rates are not an issue
# listing inventory is becoming a factor in slowing the market
# seeing solid buys on condo’s as some sellers are getting anxious”

8 responses to “Realtors Confide: “Sales have slowed!” and Ask: “Was the spring market over before spring arrived?”

  1. How can we know sales have slowed? It’s only been a few days. I do think there was some advanced buying though.

    • groundzeropat

      My wife’s friend is a realtor who specializes in HAM. She said it has been dead since the Japan quake March 11. She said 2 clients who have bought within the past 2 months are wanting to sell. The main concern is the fear of a big earthquake and home insurance in Richmond (5 meters below sea level) does not cover flooding as a result of an earthquake. Hot asian money is not stupid because that’s how they got rich in the first place. She was told by a client: “I’m not going to throw my money into the salt waters of the ocean.”

      • If HAM is so smart, then why the hell is there so much of it in Richmond to begin with. Seeing Richmond go is the only benefit of a large earthquake.

      • I heard that some buyers changed their minds to buy in Richmond after the Japan quake. Guess we have to wait for the stats next month.
        Tonight’s sales number posted by BOM @VCI exceeded listing. Set a limit and/or a dateline, fools rush in.
        More on HAM. 2nd para, 2nd sentence: “after a 5-minute inspection of the luxury house, he plunked $22M to purchase it.” 3rd sentence: “This wealthy man (from Fujian province) had bought 10 other luxury houses in Vancouver West.”

      • This house in VW was overbid by $600k

        3rd para, buyer’s instruction to realtor “to overbid $800k above others.”

      • Is it just me getting the brain freeze trying to decipher the “chinglish” in the “mingpao…” link? Geeeeeeez..!!!!WTH

  2. Restaurant Unemployee

    i’ve done my best

    “Mansion price nights of 茘 600,000 Yuan 18 buyers compete to buy the identical room The Chinese rich and powerful people west the Vancouver the area “sweeps the goods” in “the first-level war zone” the technique, makes the real estate broker who has fought many battles to feel is astonished. Some people start out “, no matter others how much money, are higher than him 80,000 Yuan” condition; Some people bid between one night raise 600,000 Yuan, worried that others “the truncation stick” by a higher price, requests the homeowner to hand over the room as soon as possible, is willing to let in the homeowner 8 months “free, no matter what lives”. Real estate broker Li Heng indicated that at present the greatly warm real estate market “the first-level war zone” west the Vancouver the area, already presented the out of control condition. Many houses just now license, in several hours will then have under the multi-people the list, moreover high will not be only low. Even has the Chinese rich and powerful people when snatches the building to the broker under the instruction, “, no matter other people give the how much money, I compared to the highest that high 80,000 Yuan, certainly must snatch in brief down!” Real estate broker Ji Wanchen disclosed that the other day west area Quilchena area Prince of nearby the Wales middle school between an initial price 1,998,000 mansion, attracted 18 buyers to emerge. Estimated originally pays for is about 2,200,000 Yuan, but in a night of between storm increases 600,000 Yuan unexpectedly, finally finalized a deal by 2,800,000 Yuan day prices, is higher than originally the initial price over 40%. Finally the deal buyer started out makes the condition which one was astonished, requested in 2 weeks to hand over the room, but the original homeowner might in the room “free, no matter what lived for 8 months”.

    no joke, the fawning is indicative of the general mood – are we calling a top or shall we watch the chinese test the einstein’s theory of the infinite nature of human stupidity?

    at least i can say i grew up in a nice place.

  3. Restaurant Unemployee

    i just realized they are even deliberately over paying in denominations starting with the number 8.

    that is fucking rich.

    fool apparatchiks are soon parted from their monopoly money.

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