Episode 2 Transcript – Earthquake theory
This is the 60 Second Real Estate Reality Check with Jessi Johnson. I feel a little guilty in my first episode because this is now technically my second which was actually just a few minutes ago. I don’t know if that really counts. I’m taking this video inside of my car. There’s a gentleman who I learned of this entire system, vbloging, named Ian Watt and if you go to ianwatt.ca he does all of his video blog from inside his car, which I am doing right now. I’d like to state the fact that I did not come up with this idea on my own. I do not plan to have these in my car. Maybe one out of whatever in my car but I feel guilty as he does all of his out of his car so I’m just stating the fact that I’m in my car now, that I took the idea, but I’m only using it for a few times.
My two cents real quick as my 60 seconds are probably almost up. In Vancouver right now, everybody’s stating the fact they are concerned the market is dropping, prices are coming down. Well there’s a little more to it than that and we’ve had the hottest market on the planet in the past 8 years or more. Respectfully the last 5 have been the strongest and we need an adjustment period right now. We’ve got a lot of properties that are on the market that people don’t necessarily want to sell their house but the market is so hot that if they get an extra fifty to a hundred thousand they’ll sell their house. You’re also getting a lot of prices priced far higher than the properties are valued and it’s about time the Vancouver buyers are starting to smarten up. You’re going to have a lot of properties on the market right now because a lot of people bought with the intention of selling, the only problem is they’re all doing it at the same time. You’ve got an excessive saturated market and it’s causing a bit of problems. Prices are dropping, big surprise, but here’s my earthquake theory real quick for you. When you are to avoid a major earthquake what you need are small tremors to ease the tension. Essentially having these plateaus in the market, you know little dips here and there, to allow a potentially hot market to continue being hot without having a major crash. That’s a good thing people. Interest rates are still very low. You can check out my rates and other information on me at firsthomeinfo.ca. It is what it is and I’ll talk to you soon.
