Asking the Right Questions
Do you know the right questions to ask? You should narrow your search criteria to product, price, and area, if you encompass too much information it could easily misguide your value. Another small important thing to consider is MOTIVATION… It can make people do crazy things..
Whistler in the last quarter April – June 30th 2011 saw about 137 sales. I choose to leave out of my numbers Timeshare… however I do count Quartershare… my basic principle is over $100,000, and in the last couple of years $75,000 and above has also been included. Sales this year are a little stronger then same quarter 2010 – 123. I have written a quarterly blog about real estate in Whistler since 2002 and always reflect on past posts.
Recent articles in the Question and Pique News Magazine have spoken favorably about the Whistler market. I’m wondering if this has anything to do with the recent sales of a home in Stonebridge for $8,700,000 or Kadenwood for $4,800,000… we should note that the most active dollar value of the market in Whistler has been buyers in the $350,000 – $900,000 price range.
Every sale does count, and it has never been so clear until you look at what the Pemberton market has experienced over the past couple of years. When over 300 buyers (local mostly) purchase a home from the Whistler Housing Authority it takes a large amount of purchasers out of the Whistler or Pemberton’s open market. That is a significant amount of buyers to lose in a market place as small as those two areas are.
In a market such as Whistler it is fueled by non-resident buyers, and over the past four years we’ve seen a significant drop from the earlier 2000’s when Whistler was finishing its build out of hotels and townhomes. Many buyers today in my opinion are still waiting for the turbulent world economy to settle. Second home purchases are discretionary spending, and right now a lot of buyers feel more comfortable with their money in the bank…… Except for one strong economy…..
The Vancouver Market
I have several friends in the lower-mainland who sell real estate and it baffles me at how busy they are… multiple offers and the newest craze is presenting offers on Monday night ??? Wow to be so fortunate.
Even the Economist Cameron Muir shakes his head at the Vancouver market which he predicts is expected to have a modest gain of 5% over the next two years.. but it can’t last they say – six years later!
The lower-mainland home owner has seen healthy gains in their holdings and can now take some of that equity and build on their existing portfolio by purchasing more real estate… and that is who is buying in Whistler!
The Second Quarter Numbers 2011
April – 47 sales May – 46 June – 44
Chalets – 10 Chalet – 15 Chalet – 8
Townhomes – 19 Townhomes – 14 Townhomes – 14
Condos – 14 Condos – 15 Condo – 8
(4 in other) (2 other) ( 14 Q-Share – find out why!)
The month of June saw a drop in sales in every segment of the market except Townhomes which is still the top seller and now Quarter Share which Intrawest decided in the month of June to off load their remaining suites at Evolution. So remember – ask lots of questions before you put the pen to paper, so you can enter the market with confidence and a lot more knowledge.
Below you’ll find a link to my house – just listed!
8337 Needles Drive Alpine Meadows $925,000