Homes Are Sitting On The Market Longer

In today's video, Surrey Realtor Steve Karrasch with Macdonald Realty discusses what he is currently seeing in the Spring 2024 market, specifically why some listings are sitting on the market longer.

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The opinions expressed herein are solely that of Steve Karrasch PREC and not Macdonald Realty or the FVREB and should not be misconstrued as advice or the basis of an agency relationship whatsoever. Please consult your professional advisor prior to taking action on any decisions relating to the matters discussed in these videos. This communication is not intended to cause or induce breach of an existing agency agreement.

[SteveKarrasch]

Do you think well priced homes are selling in your area?

[Daniel-lmyf]

Subscribed! Your punched in the face marketing strategy worked! Very memorable! BTW good show today, you're good when there's no edits.

[Cherrycola]

People are priced thinking 2 years ago rather than now priced.

[vert]

when peoples buying power returns, they will all be sold. sellers that cant hold out until that happens will lose money. some exerb areas wont recover for a very, very long time.

[rosegirl]

I'm coming up against this as a buyer. I have areas I'm looking at that the last 7 sales have been 1.3-1.5, and the 4 homes currently sitting stale are listed for 1.6-1.95, the realtors literally told me they priced the house because of the neighbors price, even though the neighbor has had no offer for 2 months.

[mayankashok]

As always, great and honest opinion from you 👍

[jupitereye]

Oh God, the "price right" argument. It reminds me of the slogan of some realtor I saw back in 2018... "guaranteed offer". Well, if I put a price tag of 200k for a house that costs 1M, of course, I'll get interest and a bidding war. I was thinking of selling now in spring. Not happening. I'll keep it, I have good tenants who pay on time and are keeping the property very well. I'll wait for a better time, couple of years no problem.

[iguana]

How do you think the new OSFI policy will affect the market? With people only being able to get approved for a mortgage principle 4.5x annual household income regardless of rates coming down do you think prices will begin to trend downwards?

[dougiep]

Credit is gonna dry up as commercial delinquencies add up. Hope it doesn't take out the banks but it will be close. My advise is people should prepare for the worst and hope for the best

[MeagerMillionaire]

Wait until rates are jacked up again, no cuts coming anytime soon!

[m.b]

"Anything sells as long as the price is right." Abraham Lincoln

[berry]

you want to move it drop your price, but they are too greedy, you bought in the 90th and want to sell now you probably have a 200%+++ profit in it
so whats the problem??? Put yourself in a first time buyer's shoes and dont be so greedy

[bgtokalau]

This people over pricing their properties are stuck in the pass.its totally different market now.

[RC-fhlk]

I think we need to wait for the first/second rate drop then we will know what’s waiting for the rest of the year. It’s all psychological right now…rate reductions might change this narrative quickly

[vhateverlie]

I'm wondering if the increase in consumer debt, and reduction in immigration coupled with the emigration of the current population will collapse most of the economy and the housing market with it. Without all the new people spending more money this real estate ponzi economy stands a real chance of having housing fall back.

[Napatreez]

Daddy those house will be 1.4 end of year

[_permanence]

Gee, who would’ve thought? The bubble has finally burst 😂

[TurboMath]

you definitely dont live in the gta .. average homes still going for 1.5

[yingyang]

You would be a fool to buy today. Unless you take 30% percent off the price