A cute realtor came by today and asked me if I was interested in listing my place. They had just sold a place down the street for just under 200K over list. 1.4M assessed, 1.7M list, just under 1.9M selling price.

I asked her if there's anything to buy in the market. She said the market was starting to heat up again. So I told her that I didn't think it's a good idea for me to sell my SFH and buy a TH for the same price LOL. Which she agreed that it wasn't and then pissed off.

Anyway, I've never actually seen a realtor go door-to-door. It must be rough out there right now LOL

On that note a guy I knew from Hs added me on Fb a few months back. We were kinda buddy buddy mostly in school he wasn’t really in our big circle of friends etc. and definitely not anyone I would hang out with outside of school, MAYBE see at a big party etc. so he adds me and of course he’s a realtor.

Fast forward to this past weekend and my dad messaged me saying hey your buddy “x” knocked on the door. I’m like oh yea?.. not really my buddy and I haven’t seen or spoken to him in almost 20 years but ok

My dads like yea he was really playing up yoir relationship in an attempt to have me list my house with him..

The last time this happened to me, the guy was selling amway products.

A realtor and their broker buddy went to my TH complex door to door on every single unit. Blew my mind because we have a closed off complex that requires a FOB to get in.

It was an older duo too which makes it all the more weird.

It's called farming. Pretty normal for a property to be sold and then "farm" the area to pull another listing. Although usually letters would be sent in mail. No one really door knocks anymore unless you're an old school realtor.

Should've told her willing to talk it over dinner :ifyouknow:

My parents realtor did that 22 years ago lol. It did work though, the market was dead in the area they wanted to move to.

in the past year i think ive had like 6 realtors come to my door asking if i wanted to sell my place so i dont think its that odd.

I dont believe for a second that the realtor is cute. Did she leave a business card? need to verify

Maybe I'm old school? But I appreciate the efforts of those that physically show they are willing to do the work to potentially get a client, eg. door knocking. I hate those that send you flyers and expect people to reach out to them. Typically I take those flyers and use it to layer my compost buckle at the bottom for recycling lol.

Then you have those RE agents that don't wanna do jack all, just sitting around waiting for someone to give them your business.

We get real estate agents knocking on our door regularly here in the GTA. It just depends on whether you are in a hot area or not. Given the COVID situation, I'd rather they leave a flyer in my mail box than knock on my door. It's actually getting quite disruptive. And none of them are "cute" as BIC_BAWS puts it.

For me, while I “kind of” appreciate the leg work, If you knock on my door for anything, I’m not using you, donating to you, considering you.

Damn at 2.4M that's crazy. That house kind of looks like my mom's place. She wants us to have kids in 5 to 10 years and move in with the grand kids. But I only have a 1 BR and there will be no kids without space either.

She also doesn't wanna sell the place since it's her first owned house since moving to Vancouver.

Lol @ market is heating up as we're on the verge of a rate hike and looking at 7 rate more hikes throughout the year.

Don't listen to realtors.

when do you ever listen to a realtor? Kappa

Lol at 7 rate hikes. Not denying the hikes are happening but I don't believe 7 hikes to be possible, it'd be under 2 months between every hike and they already struck down the first one.

Was briefly in the auction business. And according to them, there's no such thing as a recession in their industry. When the economy's doing well, things go for higher prices and we make better commissions. When the economy's tanking, more people go into bankruptcy and we make up our commissions with quantity.

It's such a toxic way of thinking, and realtors are no different. I left that job in 6 months though I do miss their expensive task chairs from time to time. :QQ:

When the market slows it just cuts out those buddy buddy realtors who sell all their friends and families homes and have no other customer base

Ok, 5 hikes? BoC will have to keep pace with the feds and BoC might have to get even more aggressive to cool inflation if a war breaks out.

I wouldn't be shocked if we're nearing 2% this time next year. Good times are coming to an end.

Vancouver 3:16 says I can't afford my mortgage

I'd expect probably 3-4 hikes in the next 12 months, we'll probably be at 1.25-1.50% at the same time next year. They have to balance inflation and the economy and also not crash the real estate sector. As much as it is inflated if they crash RE the whole country will spiral down with it as so much non-existent money is out there.

Higher rates would curb buying and flatten the increase, but what's unaffordable now remains to be unaffordable unless there's a crash of the market. If there's a RE crash then buying a house may be the least of a lot of family's worries.

I'm hoping rates hover around low to high 3's when I renew in 2024. I banked on a 4 year mortgage so I could try to renew sooner before the major rates hikes.

I wonder if we will ever go back to the 7% average.

What do prices have to be for condos and houses for you to consider it a crash?

1 BR @ Brentwood $400K?

SFH in East Van $1Mill?

I feel like at those prices, some people could easily scoop up a few properties with annual cash flows and if it doesn't drop below that. Is it even a crash? Just same prices as 2016.

Where in God's name did you get that logic?

When I owned a 2-bedroom in Brentwood when they were priced in the low-400s, people complained they were too much. Besides, the sentiment at the time about Brentwood in the late-2000s was that it was an industrial hole that would never amount to anything.

Even when SFHs in East Vancouver were hovering in the $1M-range, there was a "Don't have a $1M campaign" on social media of university-educated millennials who expressed their anger about not being able to own a home in the mid-2010s.

How times have changed...

A crash will only be a crash in hindsight.

Agree - things are so unaffordable now that there's nothing short of massive global catastrophe that will make it affordable again in the short/medium run.

https://www.scotiabank.com/ca/en/abo...-12-2021-.html

I've been reading about the how acute the housing shortage is - one report said we're short 1.8m units of housing in Canada (Vancouver has about 300k units in total so we're saying we're short 6 Vancouvers) and another (the one above) says we have the lowest number of housing units per capita amongst the G7. No wonder we're in DEEP shit.

For reference, we had about 260k housing starts in all of Canada in 2021 so if we doubled the number of housing starts over the next 7 years we'd catch up to what we need in 2022 (based on the average housing numbers of the G7). We'd still be behind based on population growth.

Simply said, there's no way we can possibly catch up on our housing needs in the next 20 years so there's no way housing will become "affordable". If anything prices will keep going up.

my dad was one of them and i was the one doing postal walks with my dad. He was a hard worker, he would cold call every one he dropped off.
Out of 100, 2 would respond.
Out of 100, 1 would call and ask what his place is worth.