Southern Gulfs - worm turning? Tipping Point?

[JimmyWW]

Quote:I have noticed prices dipping in the sub 600K category by about 5% per year over the last three... but, I don't believe these properties are worth half that. Especially in the context of drop in travel, suppressed interest rates, recession creeping in again, and potential for war.

Cheers ~ ...Javak

Hi Javak,

I noticed it in two contexts: one, listings on realtor's websites which were NOT replicated on MLS; secondly, in physically driving around the area (with my wife at the wheel :-)) and my hand on my cell-phone, trying to find properties which had a FOR SALE sign outside on MLS and finding them only on Realtor's websites.

Skook's comment below provides more insight.

Cheers -
JimmyWW

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(09-11-2014, 10:04 AM)Skook Wrote: Hey Jimmy,

Thanks for the update - informative as always.

As for listing, you can enter into an agreement with your agent to give him or her exclusive rights to market your property and it will not be put up on MLS. The home owner needs to be aware of important issues with such an agreement. You can get the details from this Real Estate Council of BC webpage - scroll down to 'Types of Listing Contracts.'

Aha, sir Skook! I thought so, and you've just confirmed it. There's no way of measuring the level of this inventory, but anecdotally I could add 5-10% to the existing "official" MLS stats... mmm (*strokes chin and puffs on pipe*)