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Calculating Fair Value in today's market
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07-01-2014, 07:19 AM,
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RE: Calculating Fair Value in today's market
hey Boomer
Thanks for those updates. From where I'm looking (Southern Gulfs) the market is looking decidely sticky and choppy. What I mean by this is: - inventory now at (or very close to) all time highs; - "bunching" of listings in the $400-$600 bracket (23 out of 83 listings), and in the $600-700 bracket (17 out of 83 listings), then, weirdly, another bunching in the $1m-$1.5m range, - mixed findings against assessments. Some of the higher-priced homes ($1m-$1.5m) are now trending BELOW assessment; meanwhile, in the $600-$800 range, people are still hoping for up to 50% above assessment. That last fact, speaking frankly, kind of annoys me. I'd like to think they'd never sell if trying that kind of pitch (50% above assessment) but the fact is that if you are selling up in TO or downtown Van, a $850K home which is only really worth $550K probably still looks like a steal. The venerable Skook believes (and I share his view) that we are probably still around a year away from reality setting in for the Southern Gulfs. I think we need a poor sales year this year and for listings to hit the 90 mark (currently 83) before we see any significant shifts down in price. That said, some places are now down between 35-40% from original asking and are still not selling. Jimmy |
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Messages In This Thread |
Calculating Fair Value in today's market - by JimmyWW - 05-22-2014, 10:43 AM
RE: Calculating Fair Value in today's market - by Alexcanuck - 05-22-2014, 05:57 PM
RE: Calculating Fair Value in today's market - by NolaM - 05-28-2014, 06:07 AM
RE: Calculating Fair Value in today's market - by Boomer - 06-23-2014, 04:29 PM
RE: Calculating Fair Value in today's market - by Skook - 06-23-2014, 05:24 PM
RE: Calculating Fair Value in today's market - by JimmyWW - 06-24-2014, 04:41 AM
RE: Calculating Fair Value in today's market - by Boomer - 06-24-2014, 07:24 AM
RE: Calculating Fair Value in today's market - by JimmyWW - 07-01-2014, 07:19 AM
RE: Calculating Fair Value in today's market - by Boomer - 07-02-2014, 11:01 AM
RE: Calculating Fair Value in today's market - by georgie girl - 08-03-2015, 09:07 PM
RE: Calculating Fair Value in today's market - by Plelt - 08-04-2015, 09:27 AM
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