http://whispersfromtheedgeoftherainforest.blogspot.com/2012/06/sellers-unite.html#comment-form

Realtor James Wong's monthly R/E report, released June 16th but covering the May 2012 sales data, advised that total listings have hit all time highs, daily price reductions are common, and detached home listings in the million dollar plus category are dying on the vine.

Of the 556 homes on the market with an asking price north of $1,200,000, sales have been so bad that there were 17.7 months of inventory on the market by the end of last month.

Wong's advice to sellers was blunt: If you have to sell, much deeper price cuts are needed.

http://whispersfromtheedgeoftherainforest.blogspot.com/
Realtor Larry Yatkowsky is out with his latest figures and for the fourth consecutive month the average detached home price in Vancouver has dropped.

Prices have gone from February’s high of $1,235,244 to a current average price of $1,061,067.

More significantly detached home sales are down 37% from this time last year and total active detached listing have soared 27% higher than this time last year.

Realtor warns clients: "It's time to Cash Out!"
http://whispersfromtheedgeoftherainforest.blogspot.com/2012/07/wed-post-3-westside-vancouver-realtor.html

I’m a REALTOR and I sold my own home 4 weeks ago. It wasn’t too big or too small. It’s only 6 years old and still feels new. I sold because in 6 months my home will be worth less than it is today. I think its time to cash out!
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Advice for people who are underwater after doing all the calculation?

Finally the most awaited news is arriving in bits n pieces...Canada's RE market is ready for crash...yay...
Now it is all finally going to be "see I told you so..." (even though it was since 5 years back)

Negative rate? So the mortgage amt diminishes by itself?

Ingenious! Where do you get time to go thru all these stuff and then distribute on top of it.

- Go to google.com
- type "give me ****ed news of the day"
- then read it.
- copy & paste where ever applicable.

BTW, I am not against the fact the houses are way too overpriced. They are growing additional 3% from the last 12 years (based on my rough calculations).

Quote:

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Originally posted by bhootnath

Ingenious! Where do you get time to go thru all these stuff and then distribute on top of it.

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The cowards never started,
The weak died on the way,
Only the strong arrived.
http://www.youtube.com/watch?v=_yK1i9cLAMM