Tuesday, July 17, 2012

Tues Post #2: June stats for Downtown Condo market - market down over 20%. Ian Watt says 'take advantage of market fear'

Everyone's most annoying realtor is out with some interesting tidbits again.

Ian Watt has fired up the car cam to tell us the stats are out for June 2012 for the downtown condo market.

The statistics for the month were down 27% and Ian says it was the worst month, as far as activity is concerned, in Greater Vancouver in 10 years.

Watt goes on to tell us that year to day, market sales are down 20%.

Watt even concedes we are slipping into a buyer's market, that prices may correct 5% and then gets giddy as he suggests you might want to get out into the market to look around because:
"someone might be desperate, someone might be motivated, someone might be fearful of all this news."
Ian Watt... the Darth Maul of Realtors?


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  1. And he trots out the usual reasons why there won't be a 10% correction: no more land, lifestyle (everyone wants to live here), we are a big city now,... he forgot the Olympics! Yawn.

    1. Let's not forget Expo '88 and being able to ski and play golf on the same day...

  2. We MIGHT see a 5% correction, but not a 10% correction... I love how these high-school educated real estate agents pull numbers out of their asses.

  3. This Ian Watt name sounds familiar... oh right! he showed an open house in my condo building recently. Open house goes from 2-4pm, but I see him left at 3:30pm, apparently because he's too bored from not having visitors. Grand display of professionalism.

  4. I fear he's going to drive into someone while talking on the wholly-unnecessary car cam. But interesting data nonetheless.

  5. Yup.

    Another great piece of info from what rythmes with Twat.
    Someone should report him to the city police for driving distracted. Terrible.

  6. 2012: We might see a 5% correction, but not a 10% correction

    2013: We might see a 20% correction

    2014: We might see a 40% correction

    2015: It's going to zero. Get out while you still can!!!