“Good little story about Kelowna. My buddy’s house has been on the market for a long time and out of the blue he got a bite.”

“Good little story about Kelowna. My buddy’s house has been on the market for a long time and out of the blue he got a bite. It sold for about 5% less than asking and when they were $4K apart he stood his ground and told his Realtor that if he wanted this to happen he and the the other Realtor would have to do something about their commission to make up the $4K because he wasn’t dropping anymore.
At first they said ok, then they said it couldn’t be done, then they said they needed an extra day and sure enough the two of them ate $2K each and the deal got done. Good for him for holding his ground as the realtors tried to wait him out and hoped he would cave.
Even better, he signed a 2 yr lease on a recently renovated 3 bedroom townhouse at the Lagoon’s on the lake for $2200 per month. He figures the place is worth $900K – $1 mil.”
McLovin at VCI 24 Feb 2012 7:46pm

16 responses to ““Good little story about Kelowna. My buddy’s house has been on the market for a long time and out of the blue he got a bite.”

  1. People marvel at what Vancouverites do to pay obscene mortgages.

    I wonder what Kelownians do to pay theirs. All the city has to offer are customer service, low income jobs. How people afford anything there is beyond me.

    Kelowna may look like a bargain, but only when compared against the stratospheric Vancouver valuations.

  2. BCSC Executive Director’s Bulletin: Securities regulator issues notice of hearing alleging fraud against former President and CEO of Vancouver group of companies

    The companies in question are:
    • WBIC Canada Ltd. (WBIC)
    • FIC Real Estate Projects Ltd. (FIC Projects)
    • FIC Foreclosure Fund Ltd. (FIC Foreclosure)

    http://www.bcsc.bc.ca/release.aspx?id=14408

  3. Renters Revenge

    $2200 for a 3br townhouse in kelowna? Glad he was able to sell his place but that rent is pretty spendy.

  4. Do sellers not have any ethics any more? What’s a contract worth?!?

    That said, I’ve seen it done and it works.

  5. Had discussion with some co-workers about Vancouver housing as one is looking at relocating back to Vancouver and has been putting in offers on houses to be rejected due to price or subjects. With regards to housing prices? The arguments basically boils down to Vancouver is now the most expensive place in NA and world, Vancouver is different, and housing prices will at best plateau. They aren’t RE bulls or anything, basically looking to buy a house or change houses. But no matter what argument I put forth, it’s basically countered with Vancouver is different and unique in the world and it’s prices wouldn’t ever come down.

    • Another worthless article from Brian Morton. Take note E.G. that there is no real content. The words simply mimic what has come out of a CREA press release. It goes like this….

      We expect prices to blah, blah, blah..
      We don’t expect prices to blah, blah, blah….
      Our forecasts say blah, blah, blah….

      But there is no rationalization for why they “expect” or “forecast” any numbers in the future. There is no content, no proofs, no analysis. Just bland words without any meat on them. We are just told what is coming according to their experts G.Klump and so we should believe it, I suppose.

      All crap of course. Here is the alternative…..

      Out in the blog world we get actual analysis. The numbers are scrutinized by real humans (well some anyway). Estimates are made for employment gains and losses, changes to interest rates, factors affecting supply and demand, government policy and regulatory changes and actual examples of sales. All of this is balanced against the macro picture of global forces which include the state of stock markets, housing bubbles elsewhere on the planet, resource demand and commodity pricing and even the number of HAM incoming on yearly flights.

      Holy crap Batman. Do I need Brian Morton and Gregory Klump to fill my head with empty assertions or would I prefer actual news with real content and analysis.

      Tough decision.

  6. That sounds like a massage ad in Richmond.

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