GOVERNMENT OVERSIGHT, A SLOWING IN THE MARKET AND MUCH MORE...
You'll recall that in May's Craig Bytes I took you through the insidious practice of Shadow Flipping.
This week, in a move to stamp out that practice and other flow-on effects from a cocktail of an overheated market, some practitioners who have no idea what fiduciary obligations are and (essentially) human greed, B.C. Premier Christy Clark says the government is ending self regulation for the B.C. real estate industry.
Again, and as I said earlier, I say GOOD!
A profession deserves professionals.
For the full article click on the graphic above.
IN OTHER NEWS...I SENSE THE MARKET IS STARTING TO BALANCE
...there are still all sorts of records being set but, yes, the market is slowing down. It is still a very strong sellers' market.
If you are looking to list your home this Summer/Fall I’d appreciate the opportunity to provide you with a free market appraisal and outline what Sotheby’s can do differently to market and sell your home for top dollar.
Thanks for taking the time to read this and I welcome any feedback. My business is based almost entirely on referrals...feel free to forward this to anyone who might find this useful.
Cheers,
Craig
*A byteis the smallest group of information that a computer can process in one chunk or bite. The bits in a byte are processed together and, more importantly for us, the byte is presented to us in a form that we can understand.
June Bytes
Sales to Active Ratio Lowering = Market Starting to Balance
CRAIG'S BYTE: Still a Sellers' Market but some sanity will resume in the market.
Here's the highlights:
Last month’s sales were 28.1 per cent above the 10-year sales average for the month and rank as the highest selling June on record.
Since March, we’ve seen more homes listed for sale in the market than in any other four-month period this decade. Increased supply.
The sales-to-active listings ratio for June 2016 was 56.3 per cent. This is down from the 70% area. Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12% mark, while home prices often experience upward pressure when it reaches the 20 to 22% range in a particular community for a sustained period of time.
Going forward, my thoughts are that sales prices won't recede dramatically but if you are pricing your home based on the recent historical frenzy that may be a mistake. But that's nothing unusual...price is the biggest inhibitor/facilitator of a fast sale.
Click on the photo for West Vancouver stats:
Click on the photo for North Vancouver stats:
Want more than a Byte? Read the Full Meal Deal by clicking on the photo below:
Craig's List*
*Click each photo to go through to a full listing with narrative, additional photos and floor plans
Have a friend who might like one of these listings? Send them a link!
Congratulations to:
James and Anne on the sale of their new built home in Lions Bay!
Shahram and Lili who sold their David Evan White designed house in Lions Bay.
Victoria who purchased a beautiful apartment in the Lonsdale corridor.
Jobst who has sold his land in Lions Bay after owning for 30 years.
A number of owners have given me an indication that they are willing to sell their homes but are not yet ready for the MLS®. They are ready to entertain off-market offers.
If Lions Bay is on your radar please call me for a discreet conversation.
The Top of The World!!
Lewis Post & Beam on 0.6 Acres!!
4570 Woodgreen Court, WV
Cypress Park View Property on 0.4 Acres!!
4566 Woodgreen Court, WV
The White House on the Hill.
A Wonderful Open Plan Home with Expansive Ocean Views.
233 Bayview Road, Lions Bay.
Executive View Home!!
475 Timbertop Drive, Lions Bay
Enormous View Lot!!
465 Timbertop Drive, Lions Bay
Executive Downsizer's Dream Home!!
Sky, Ocean, Islands.
70 Panorama Road, Lions Bay
New Architectural Home with Amazing Views!!
Half acre landscaped estate.
165 Highview Place, Lions Bay
Beautiful West Coast Contemporary.
Unimpeded 180 degree views.
242 Bayview Road, Lions Bay
Family Home with Wonderful View!!
Attention Young Families or Investors.
60 Isleview Place, Lions Bay.
Spectacular Ocean View Building Lot!!
Half an Acre.
128 Stonegate Drive, Furry Creek.
Exclusive Listings!! Click on the photo for a video of Lions Bay!!
THE FOLLOWING HOMES ARE ALL SOLD!!!!!!!!!!!
Craftsman Home with the Highest of Quality Finishings!!
295 Oceanview Road, Lions Bay
Lower Lonsdale - The Place to Be!!
707 168 E Esplanade, NV
Lions Bay Special!!
340 Bayview Road, Lions Bay
This is the one you've been waiting for!!
170 Highview Place, Lions Bay
Magnificent Townhome!!
8579 Seascape Drive, West Vancouver
Right in the heart of things!!
207/1111 Lynn Valley Rd, North Vancouver
Renovate or Re-Build!!
6420 Madrona Crescent, West Vancouver
A Special. Amazing Townhome in the Centre of Dundarave!!
2460 Haywood Avenue, WV
Executive Luxury Home in Braemar!!
4188 Citadel Court, NV
As Beautiful As The Photo Suggests!!
8549 Seascape Court, WV
South West Facing Building Lot - Never Be Built Out!! 60 Sweetwater Place, Lions Bay
Beautiful Home With Amazing Views - For the Executive Downsizer!
95 Isleview Place, Lions Bay
West Coast Artist's Retreat - For the young family or Pablo Picasso!!
450 Mountain Drive, Lions Bay
Spacious Townhome With Expansive Views!!
8539 Seascape Court, WV
Just Like A Resort. Amazing Family Home in Whytecliff!!
6910 Isleview Road, WV
New Home for First Home Owner!!
1301 E 8th Street, NV
A Family Home or Develop this Large, Flat Block in Central Dundarave!!
2115 Lawson Avenue, WV
Classic Family Home - Expansive Water Views!! 5285 Keith Road, WV
Are you kidding!! How beautiful is this?
8565 Seascapes Lane, WV
Beautiful Renovated Apartment In Dundarave
#203 2412 Haywood Avenue, WV
