埃德蒙顿华人社区-Edmonton China

 找回密码
 注册
查看: 1995|回复: 4

Buyer's marketHome sellers forced to slash prices

[复制链接]
鲜花(15) 鸡蛋(0)
发表于 2007-8-28 06:22 | 显示全部楼层 |阅读模式
老杨团队,追求完美;客户至上,服务到位!
August 28, 2007
( N6 o! Y# ]& K4 L  ]  F# K  u0 f( m/ M
Buyer's marketHome sellers forced to slash prices . l0 U3 t7 u+ F9 r7 `3 s
By FRANK LANDRY, CITY HALL BUREAU" k0 N1 _/ y+ ~: A

/ C/ [* f3 ?. O8 R) c8 ^4 a( Y  y8 T! fHome sellers are slashing their asking prices by tens of thousands of dollars as Edmonton's once sizzling housing market continues to cool, says a city real estate agent. / R8 q& t2 D  o. `2 L5 g

9 Q* h  S  N3 o( e- _And new figures from the Edmonton Real Estate Board show the vast majority of sellers are now getting less than they're asking for - a stark contrast to the bidding wars of a year ago that routinely forced buyers to pay more than the list price. 2 V+ @% ?( O9 o! \9 h' e! L
7 q" a1 L% m3 o2 r, C
"There's tons of stuff on the market. There's twice as much inventory in residential real estate today as there was a year ago at this time," Re/Max agent Abe Hering told Sun Media yesterday.
  m+ [6 s& [1 e% i
0 X* G8 s( D* u"If your supply mushrooms tremendously, inevitably the only product that will get consumed is the one that's best priced." ( g3 M) Z% B8 A/ g$ Y
$ z8 b: l, z/ \! n! \
As a result, Hering said he routinely advises clients who've had their homes on the market for awhile to drop their asking price by 10% in order to remain competitive. On an average $417,000 single-detached home, that works out to more than $40,000. 0 w$ G, j6 I1 d( m5 G, k: j1 K

% F; A  X8 g6 n"There's no sense reducing any product by 5% because it just doesn't work. We're seeing reductions of 10% and more," he said.
- H) K4 }* n( n" Z4 }9 i  @; w$ b1 A! j6 n9 o
Jon Hall, with the Edmonton Real Estate Board, said 85% of single family homes that sold over the past 30 days went for less than the asking price. On average, the final figure was nearly $12,000 less than the seller was seeking. 3 x: K* J; ?: M$ D  Q1 }

7 R2 D& r% X- e9 C' bCondos didn't fair much better, with 79% going for less than the asking price.
5 M, G9 ~, A0 L9 B, T3 X, \6 p, V) x: _/ n, t' f
"What most realtors seem to be saying is that the sellers haven't adjusted their mindset to the new reality - that we have over 8,000 listings and that buyers have choice," Hall said. * x7 j, ^3 q1 d* s  ^- D

: L2 J' l; i0 NHe said many sellers are knowingly asking for more than their home can fetch. $ X5 u/ n: p9 }9 B1 N

0 l) y) I3 M# A# ^) D6 A& B5 G2 w"And quite frankly, the realtors are getting a bit frustrated," Hall said. 8 h# L. S$ _2 A% E$ _

1 |. r; o+ a+ o; }' l' Y"The client sets the price. If the seller says, 'I want it listed $20,000 above the market price,' they've got to do it. Ten days or two weeks later, the realtor's coming back and saying, 'I told you so,' and dropping the price."
/ _" V& B2 a! {  Q: j
: p6 C7 d/ h* e2 h! j# O& w/ P. fThere are several theories as to why there are so many homes on the market.
( O- `* N/ z! ~4 C) k
; q+ T; H$ d2 q2 OCarolyn Pratt, president of the Realtors Association of Edmonton, said some investors are trying to dump property.
8 y, n4 |9 E7 r5 ?  |' X) ?) v0 \0 J: ]# E0 G0 o! {' w9 \
Other people are moving into larger or smaller homes, while trying to capitalize on the market. Some sellers like to list during the summer months, she said.
2 k$ B  E' C& M- B  o0 c" o0 y6 {5 B, {# h. s
Pratt said she's also heard some homeowners cashing out and moving back to their home provinces, like Saskatchewan, where homes are cheaper.
0 d3 I2 f' D8 t; B: ~$ D5 ^9 k+ U/ i. y
Keith Mackie, fleet director for Budget Rent-a-Car, sees it every day. He said demand for moving trucks going to Saskatchewan from Alberta and B.C. has recently increased three-fold. 4 q0 q/ c, P( _$ d  N$ L4 C1 ?! E

' ?# j8 g, k- F- i"It seems like a lot of people are going home," said Mackie. "There's no doubt about it, it's a significant number."
: D8 m& P! Z* w* m; m/ o; b' D8 d8 ^# g4 p
Hall said many sellers with homes on the market in Edmonton today won't sell. . G- r" s  T( M( \) z. u3 h3 f

7 k0 V4 q: X- Q* t+ ^" \"It would be fair to say a lot of listings will melt. They'll just disappear," Hall said. "They'll just be withdrawn after a typical 60- or 90-day listing period." . t9 B2 Q+ j: w: @3 u0 {

, t+ Y; J' U/ z& r4 B; V+ G  jThe Edmonton Real Estate Board recently reported there was virtually no increase in the selling price of single family residence in July. That month, condo prices went up 2.5%, while townhomes increased 1%. The figures for August are expected to be released early next month.
鲜花(22) 鸡蛋(0)
发表于 2007-8-28 09:44 | 显示全部楼层

回复 #1 Magrath 的帖子

Good news, thanks for sharing.
理袁律师事务所
鲜花(4) 鸡蛋(0)
发表于 2007-8-28 20:55 | 显示全部楼层
今天的太阳报上整版报道的文章。几家欢喜几家愁。
鲜花(86) 鸡蛋(3)
发表于 2007-8-28 23:14 | 显示全部楼层
老杨团队 追求完美
把握住市场才能把握住财富,同一年的房地产市场,有人赚大了,有人赔晕了。关键的一点,看得要准,下手稳,出手快。长线有长线的谱,短线有短线的打算。见好就收,得失不挂心上,才会悠悠然,欣欣然。
理袁律师事务所
鲜花(15) 鸡蛋(0)
 楼主| 发表于 2007-8-29 05:57 | 显示全部楼层
原帖由 今天闲着 于 2007-8-29 00:14 发表 8 o+ T, G+ n$ r
见好就收,得失不挂心上,才会悠悠然,欣欣然。

2 E8 T- n7 z) k; {2 y/ r( z) D: E9 U

+ s) [0 P1 X1 ?8 O# i :zhichi: :zhichi: :zhichi:
您需要登录后才可以回帖 登录 | 注册

本版积分规则

联系我们|小黑屋|手机版|Archiver|埃德蒙顿中文网

GMT-7, 2026-4-22 03:31 , Processed in 0.108919 second(s), 16 queries , Gzip On, APC On.

Powered by Discuz! X3.4

Copyright © 2001-2021, Tencent Cloud.

快速回复 返回顶部 返回列表