Whistler is Back!
May 31, 2010 by admin
Filed under Positive Real Estate
- Image via Wikipedia
WHISTLER, BC. –May 29, 2010 Great news, the economy is recovering!! Everyone look up, there is a light at the end of the tunnel, or is there? It seems that this little ray of hope has spurred a large number of first and second homeowners to jump onto an increasingly crowded bandwagon in an attempt to seize the moment.
So what is leading up to this sudden storm? Here in Whistler it has been a while since we have seen any significant upward movement in the real estate market but over the last few months I have seen an explosion of listings and I think it comes down to economic perceptions. Homeowners are seeing and hearing about an economic recovery and as a result individuals who have been holding off are now listing their properties.
With this increased interest, the market is getting dangerously close to flood conditions, with too much supply, far outpacing the demand. The economy may be recovering but this is metaphorically like a house fire and someone yells, “I see the way out”. The next thing you know the exit is congested with people and their movement is limited to a trickle.
I have been watching the market now for quite some time and I hate to say it but I’m joining the bandwagon. I will be listing our home on June 1st and I have really really sharpened my pencil in an attempt to drive a quick offer based on a great price to quality ratio. Today I posted a sneak peak of it on the Whistler Real Estate Buzz, (http://budurl.com/hotpeak) and I am seeing a huge volume of interest judging from the number of hits the page is getting. It would seem that price and quality are key in this highly competitive market. But like everyone else I now have my fingers crossed.
I have seen and heard of a lot of interesting things going on in an attempt to stand out such as additional cash incentives for agents who can turn over properties in 72 hours. I am also beginning to see domino listings, (A long list of done deals but all with a subject to sale). This domino effect is spurred on by sellers dropping prices and then the potential buyers dropping their price on their own homes to take advantage of the previous deal. In turn more and more buyers and sellers join the list, each one hoping that the dominos don’t start falling the wrong way.
For individuals like myself who keep an interested eye on the market here in Whistler, there is a lot of really interesting things happening. I am seeing all these articles on a “Bullish high-end market”, “The Olympic Effect” and “Luxury Homes Sales Soar”. The issue is that these positive messages have the opposite effect and are lowering home prices because of the now unbalanced scale of supply vs demand. In the end though it is really about coming to market with a value proposition to potential buyers. Right now in this unbalanced market you simply have to sharpen your pencils that much further.
For more additional information about market opportunities chat with Matt Warner (matthewlwarner at gmail.com) or visit his personal web site at (http://www.mattwarner.ca) or his Re/Max profile at (http://www.budurl.com/mattwarner). For general up-to-date real estate market movement here in Whistler you can subscribe to the Whistler Real Estate Buzz (whistlerbuzz.wordpress.com)
About Matt Warner – listing agent
Matt Warner grew up on the North Shore of Vancouver and in 1978 the family purchased a small Whistler ski condominium. Warner eventually moved to Whistler permanently in 1987. He has a degree in marketing from Capilano University and became a licensed real estate agent in 1989 where he has been consistently a top producer. “I have an effective easy going approach and put my clients needs and interests at the forefront.” Matt is also an avid squash, tennis and golf enthusiast.
Media contact: Robert Eberhard roberteberhard1(at)gmail.com
More related Positive News
Maine home sales jump 63 percent in April
May 25, 2010 by admin
Filed under Home Resales
- Image by Getty Images via @daylife
Home sales in Maine surged in April as homebuyers rushed to take advantage of record-low mortgage rates and the federal home buyer tax credit.
Sales of existing single-family homes jumped by 63 percent over April 2009. The median sales price increased 3 percent, to more than $165,000.
In all, real estate agents sold 994 homes in Maine in April, up from 610 a year earlier.
