vancouver-realtors-turning-down-unrealistic-clients-as-home-sales-lowest-since-2020
| | | | | | | | |

Vancouver realtors turning down unrealistic clients as home sales lowest since 2020

ByStan S.

HOME BUYERS – To get the best exclusive listings visit www.vreg.ca and go to “EXCLUSIVE DEALS”

Read More

Real estate experts say there is another indication that the real estate market in Greater Vancouver is changing.

Vancouver realtor and investor, Steve Saretsky, says the market is becoming so saturated that realtors are turning down listings.

“The inventory is stacking up, it’s not selling,” he said.

“Which is to say, there are a lot of realtors out there working for free.”

Home sales in Greater Vancouver are at their lowest since 2020 and Saretsky said sellers’ expectations in a buyers’ market are not always aligned with reality.

This means that listings that may have sold fast and over the asking price now might take more resources and time to close the deal — if at all.

Click to play video: '‘Sign’ of the times: B.C. real estate signpost company offers credit for return of posts'

‘Sign’ of the times: B.C. real estate signpost company offers credit for return of posts

Realtor Roman Krzaczek told Global News that people need to adjust their expectations a little bit.

“It seems like there’s a lot of listings that are being relisted because they didn’t sell last year and people are expecting the same price and that’s not very realistic in today’s market,” he said.

Krzaczek said many people do not realize that realtors have to put time and money into selling a home, including spending money on marketing materials.

“It cost me about $2,000 to list the property and it’s a lot of work; (it) takes a couple days to get the whole package put together,” he added.

He said he has to look at other properties that are available, take photos of the property to list it and complete any reports as needed.

Krzaczek said he recently lost a listing because the seller wanted to post the property for higher than what Krzaczek thought it was worth.

“Somebody else listed the property now,” he said. “So I wish them luck. Great people. I really hope that they sell because that’s, you know, they really need to move.”

Click to play video: 'Metro Vancouver condos sitting empty amid housing crisis'

Metro Vancouver condos sitting empty amid housing crisis

He added on Monday he saw a listing on Quadra Island drop from the $1.4 million list price to $1.3 million.

“My listing, we recently dropped the price from $1.2 (million) to $995,000,” he added.

“Big drops in price and beautiful properties, water or oceanfront properties. So there’s definitely some of that happening. And as long as we have clients, sellers that are realistic and they do listen to us, pricing is not a science, it’s more of an art form and I’m fully immersed in the market… If it’s priced well, it will sell. If it is not, it probably won’t sell. Not every listing sells.”

Krzaczek said he has not seen price drops like this in the market since he started in the business 10 years ago.

“Usually, a price drop is $10,000, $20,000, or $30,000,” he said. “But $130,000 to $200,000 drops, that’s huge. So I don’t know what’s happening, but it looks like there’s some kind of price adjustment happening right now.”

Share this page

Similar Posts

  • | | | |

    Cost of living pushing seniors back into workforce, B.C.

    ByStan S.

    Posted November 19, 2024 7:32 pm Updated November 19, 2024 8:35 pm 1 min read 2:06 Surge in B.C. seniors wanting back into workforce Another sign of more and more people having trouble making ends meet. A Vancouver non-profit group says it’s seeing a surge in seniors asking for help to get back into the workforce. Travis Prasad reports. Vancouver’s surging cost of living is having yet another unintended consequence — a growing number of seniors looking to get back into the workforce. Vancouver non-profit Mission Possible, which helps connect people in precarious life situations with stable employment, says it’s seen a 55-per cent jump in the number of seniors looking for work compared to last year. The organization says some are coming out of retirement, while others are putting off retirement because they can’t make ends meet without a paycheque. 2:07 Red-hot inflation leaves working Montreal senior with ‘nothing to save’ Edward Boe, 66, told Global News he’s working 20 hours a week at Mission Possible to keep a roof over his head. Story continues below advertisement “I’m making $1,540 on my pensions, old age and CPP. I’ve got rent of $800, expenses of $400. That would’ve left me with $200 a month,” he explained. Trending Now Get breaking National news For news impacting Canada and around the world, sign up for breaking news alerts delivered directly to you when they happen. “I’d probably be living down here in the Downtown Eastside in an SRO, which thank God I’m not.” Matthew Smedley, Mission Possible’s executive director and CEO, said that while many seniors are looking to work, they often find fewer opportunities than other job seekers. “It can be extremely difficult for seniors to find work, there can be technological barriers, health barriers, maybe some extra flexibility needed for some folks and that can be challenging to make them feel like they’re able to get back into work,” he said. Smedley said seniors aren’t the only ones feeling the pressure. Mission Possible has seen a 165-per cent increase in people seeking help to get a job over last year. The organization is calling on the province to increase services that help people get back into the workforce. &copy 2024 Global News, a division of Corus Entertainment Inc. Sponsored content

    Share this page
  • | | | |

    Vancouver aiming to grow urban forest canopy but don’t expect the promised 100,000 new trees soon

    ByStan S.

    Article content Vancouver’s “greenest” city plan, approved in 2011 by the city’s then Vision-Vancouver-majority government, set a target of planting 150,000 trees by 2020. According to a 2020 city presentation, 139,000 trees were planted by that deadline — an average of almost 13,900 a year, far more than the recent pace. Article content Vancouver staff said Wednesday that the city’s focus will be not on the number of trees planted, or the number added, but on the percentage of the city’s land mass protected by tree canopy. Article content ABC Coun. Sarah Kirby-Yung said she understands the shift to focus on canopy percentage over tree numbers. But she asked staff whether the target of 30 per cent could be higher, or it could be achieved sooner than 2050, considering that canopy cover increased from 21 per cent in 2013 to 25 per cent in 2022. Article content Joe McLeod, Vancouver’s associate director of urban forestry, responded: “I think the last five per cent of this goal is going to be a lot harder.” Article content Article content “The cream has been skimmed off the top, so to speak,” McLeod said. “During the ‘greenest city’ decade, from 2010 to 2020, all the easiest, least inexpensive tree-planting spots were capitalized upon. And now we’re getting into the harder-to-reach areas. … It’s going to be trickier.” Article content Also, the city wants to prioritize adding trees to areas where the need is greatest. Article content During Vancouver’s June 2021 heat wave, vulnerable people living in areas with less forest canopy were at higher risk of death from heat-related illness, this week’s staff report says. Article content The report includes maps that reveal a stark divide between Vancouver’s cooler and leafier — and traditionally more affluent — west side, and the historically lower-income east side, which is hotter and has fewer trees — especially in and around the Downtown Eastside. Article content Tree planting by the City of Vancouver along East Hastings in one of the areas of Vancouver with the smallest tree canopy. Photo by City of Vancouver Article content A similar pattern plays out across the region. A 2021 analysis by Postmedia journalist Nathan Griffiths found that wealthier neighbourhoods were significantly cooler than their lower-income neighbours who were surrounded by more concrete and roads, and fewer trees. Article content Article content It can be more difficult — and expensive — to plant trees in these “very urbanized environments,” McLeod told council. Article content Removing pavement and excavating to create a new tree pit can cost as much as $20,000, he said. Article content “It is a costly endeavour, but it improves the public realm and obviously provides great benefits to the community.” Article content He cited the 700-block of East Hastings as an example where the city has recently been able to add several new trees to a tree-deficient area. Article content ABC Coun. Mike Klassen proposed directing staff to explore innovative ways to reduce urban heat islands in neighbourhoods with less tree canopy cover, including areas where it is challenging to grow trees. Article content Klassen’s proposal, which council supported, mentioned the example of “vegetated shade structures.” These are roughly four-metre-long sail-shaped awnings covered in vegetation, which are designed by a Spanish company and have been installed above urban streetscapes in Spain, England and Turkey. Article content Asked whether ABC’s 100,000-tree campaign promise was unrealistic, Klassen said: “I’ll never apologize for being ambitious.” Article content “I think all innovative solutions have to be brought to bear,” he said. “What’s our goal? Our goal is to create cooler conditions in the face of a changing climate, and we’re using whatever tools are at our disposal to achieve that.” Article content Article content Article content

    Share this page
  • |

    Starting and Scaling Your Real Estate Portfolio: A Beginner’s Guide

    ByStan S.

    Introduction Real estate is a powerful investment that can grow your wealth over time, and even while you sleep. But for newcomers, the journey to building a portfolio can feel like learning to swim by diving into the deep end. From decoding market trends to managing properties, it’s easy to get overwhelmed. Fortunately, starting your…

    Share this page
  • | | | | | |

    Dont Skip This Moving Day Step. What to Clean Before Handing Over the Keys

    ByStan S.

    Moving out of your home kicks off a laundry list of to-do items. One of the tasks that might cross your mind is finding out who is responsible for cleaning your home when you move out. Is it expected or required? Who should pay? We reached out to experts on the best practices for cleaning when moving out of a home or rental property.  Kam Zinsser is a real estate agent with Better Homes and Gardens Real Estate Senter Realtors. Svetlana Choi is a broker and luxury property specialist at Coldwell Banker Warburg. Michael Weiner is a real estate salesperson at Coldwell Banker Warburg. Gerard Splendore is a licensed real estate broker with Coldwell Banker Warburg. Check Your Contract  In some cases, cleaning is specified in your sales contract, in which case you’re obligated to comply. Most contracts for home sales include boilerplate language regarding the buyer’s obligation to clean and remove all belongings from the home before the sale. Renters often have requirements in their leases relating to cleaning before they move out. “Although it may not be contractual, it is more of a courtesy to the buyer,” says Kam Zinsser, a real estate agent with Better Homes and Gardens Real Estate Senter Realtors.  “When purchasing a home, most contracts stipulate that the premises be broom-swept,” says broker Svetlana Choi of Coldwell Banker Warburg. “So, it isn’t necessary for a seller to do a thorough cleaning. However, it can make a real difference, particularly if it’s a higher-priced property.” “I had a client who was buying a studio in the Gramercy area of NYC and specifically requested that the mildew, which was severe, be cleaned from the bathroom,” says broker Gerard Splendore of Coldwell Banker Warburg. “At the walk-through, the day prior to closing, the mildew was untouched. The seller insisted that it had been cleaned that night, but no evidence or pictures were presented. I left the closing, and the bathroom was untouched, so the buyer was awarded a $1500 cleaning allowance off the price of the sale.” Benefits of Cleaning a Home Before Moving Choi adds that the choice to have a properly cleaned home can be the tipping point in a sale. “I had a walk-through where the buyer was having doubts about whether the apartment was the right choice for her family,” she says. “Because the seller didn’t want to jeopardize the transaction, she immediately hired a cleaning service, and I reported this to my buyer. In the end, she was happy and then focused on renovating her home.” “A cleaner home helps with a smoother walk-through and sets a positive tone for the closing process,” —Kay Zinsser, Real Estate Agent As Zinsser stated, cleaning your home is typically a courtesy to the new buyer unless otherwise stipulated in your contract. “General cleaning of the floors and surfaces as well as removing all personal belongings is very important,” Zinsser says. “Deep cleaning the kitchen appliances, inside the cabinets, bathrooms, and carpet is always nice.”  In some cases, the buyer will require the seller to pay for a deep clean before move-in. In other cases, the buyer will take the cleaning into their own hands, either to organize and pay for it or to do the dirty work themselves to save money.  Whether you’re cleaning as a courtesy or because you want good karma, most agents agree it’s a smart move.  “Leaving a home clean on departure is nearly always a good idea,” says agent Michael Weiner of Coldwell Banker Warburg. “For instance, if it’s a sale, the new owners are more likely to return items that may have been left accidentally by the sellers at the time of the close; and in general, renters want to be able to keep a good recommendation from a prior landlord as a reference for a future one.” What You Should Clean When Selling a Home  Zinsser suggests cleaning commonly overlooked areas in your home, including the inside of your fridge, oven, and microwave. Wiping down baseboards, trims, ceiling fans, and vent and air return covers is also a good idea. Window ledges and blinds also get dusty. Finally, check behind the toilet for forgotten grime.  “Prioritizing these areas, whether you are a renter or a homeowner, goes a long way and makes a difference,” Zinsser says. “As the homeowner, cleaning the home and paying attention to details is largely a goodwill gesture.” Focus on the main living areas to start. “Primary areas such as living rooms and bedrooms, which are central to the home, are the top cleaning priority and are almost impossible to overlook,” Weiner says. “Less-used areas, such as a basement, attic, or closet, are sometimes overlooked because items stored there are often not everyday ones. Overlooked—or perhaps simply insufficiently cleaned—are bathrooms, which are places most people hate to clean.” While you don’t have to clean, it is a nice gesture and one you would appreciate if the roles were reversed. “One of my sellers said to me, ‘They sought to present the home as they would wish to receive it,’” Zinsser said. “This has always stuck with me!” What You Should Clean When Leaving an Apartment  When it comes to cleaning an apartment or home rental, the rules are typically much more rigid and spelled out in the leasing documents. They often state that you must leave the space empty and broom-cleaned or swept. “For homeowners, cleaning is rarely a

    Share this page
  • | | | | | |

    5 Popular Home Projects You Should Skip This Summer and Save for Winter

    ByStan S.

    Summertime is an excellent opportunity to get a head start on a few home improvement projects, but not every job benefits from the heat and humidity of the season. Bubbling paint, unsafe temperatures in the attic, and waiting for more comfortable working conditions are all reasons you should consider putting off certain jobs this summer. And before you think you’re off the hook from any DIY renovations this season, we rounded up a few that are worth focusing on now, while the weather is warm and favorable for outdoor work. Ron Shimek is the president of Mr. Handyman, a Neighborly company, a leading provider of property maintenance, repair, and improvement services. 5 Projects to Skip This Summer and Save for Winter Ron Shimek of Mr. Handyman shares his top picks for home improvement to-dos that are better left for winter. 1. Fixture and Hardware Upgrades While you’re spending time indoors during the winter, you might notice more things about your house that you want to change or upgrade, or you might be looking for quick and easy ways to add more interest, personality, and style to your home. Swapping out your fixtures and hardware can give your home a fresh look in a matter of minutes, and you can stay warm indoors while you work. “Upgrading light fixtures, cabinet pulls, door handles, or even installing smart home devices can significantly enhance your home’s aesthetic and functionality without being weather-dependent,” explains Shimek. 2. Insulation and Weather Stripping Spending time in your attic messing with insulation in the summer is probably the last thing you want to do, but there are other reasons to put off this project until cooler weather arrives. In the winter, you’ll be better able to identify cold spots leaking in from damaged weather stripping and other flaws in your home’s insulation. Additionally, there will be no delay in feeling the effects of a job well done. “You’ll immediately feel the impact of improved insulation and sealed drafts as your home becomes warmer and your heating bills potentially decrease,” says Shimek. 3. Interior Painting Painting the interior of your home during the summertime can come with a few obstacles, one of which is humidity. Moisture is a major culprit in sabotaging paint drying time. When paint doesn’t dry properly, it can lead to bubbles, cracking, and mildew issues if you’re not careful. Although Shimek says some ventilation is needed to help the paint dry during the winter, the lower humidity levels go a long way in getting walls and ceilings dry in a reasonable amount of time. Plus, the home project pro says it’s a great way to give your living spaces a fresh look during a season when you’ll be spending a lot of time inside. 4. Minor Remodels The key here is minor, as you’ll likely spend a lot of time indoors during the winter, so whatever construction you do will likely happen while the whole family is underfoot. It is best to schedule these projects during the winter when the weather can be unstable. “These indoor projects don’t rely on good weather and can significantly improve the comfort and functionality of your home during the months you use them most,” says Shimek. Low-key bath and kitchen remodels are both projects you can move from your summertime to-do list to your wintertime schedule. 5. Dryer Vent and Chimney Cleaning “These are crucial safety projects, especially as you begin to use your dryer more frequently and your fireplace for warmth,” says Shimek. Hiring professionals to clean your dryer vent can reduce your fire risk, while a professional chimney cleaning can prevent creosote buildup. Creosote is a tar-like byproduct of smoke from wood-burning fires that forms on the interior of the chimney. It can be a fire hazard and a health risk. Get these projects squared away early in the season to ensure your home is safe and prepared for the cold weather ahead. Related 5 Projects to Do Instead This Summer When the weather is nice and you are eager for a home improvement project, get a jump on these projects that are ideal for summertime. 1. Exterior Painting Hold off on exterior painting until days when the temperature is warm and the humidity is low. In some areas, particularly in the South, this might mean starting or completing the project early or late in the season, when the weather is moderate. These conditions are ideal for allowing paint to dry properly without cracking, bubbling, or mildew issues, says Shimek. 2. Deck and Patio Refinishing One bonus of the summer heat is how quickly it dries surfaces, like when a sudden summer rainstorm hits and the puddles vanish before our eyes after the sun comes out. It turns out that this phenomenon is also beneficial when it comes to pressure washing, staining, sealing, and sanding patios and decks. Shimek says the warm, dry conditions help the materials dry properly, which means they should last longer. 3. Window and Door Work Consider any window-related projects for another early- or late-season job. “Replacing windows and exterior doors is less disruptive when the weather is mild, as it exposes the interior of your home to the elements for a period,” says Shimek. He also advises replacing or repairing window screens during this time. 4. Gutter Repair and Installation Summer is a great time to repair, install, and clean out your gutters. “With less rain and

    Share this page