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Real Estate in Whistler is like a roller coaster!

August 20, 2010

The ride of your life

Now we completely expected the market in Whistler to cool during the 2010 Olympic and Paralympic period of February and March. We also expected that January would be slow due to infrastructure that still needed to be realized; and of course April to start cleaning up after the party…  May and June are known as the shoulder months so a slight slow down was also expected during this period. That would bring us right through to the third quarter 2010.

However looking at the number of sales year to date we can clearly surmise that January – May & June have been consistant in terms of sales. By the end of June it appeared Whistler was well on its way to a great summer in real estate. Then July finished and our balloon had a slow leak… No pun in tended. Trying to figure out why was not hard….

Tourism

We could not blame it on tourism, because the tourist were definitely in town our village was full,  our walk-in traffic known as floor duty was busy…. The real estate community was out showing properties and in many cases writing offers… the offers however were not coming together and if they did it seemed like a battle to bring the two sides to an agreement.

Sitting on the fence

The majority of buyers for Whistler have not gone away, in fact they’ll tell you they still want to buy here…. the problem being they have no sense of urgency… nothing is propelling them to finish what they started and get on with life. They have the money, financing and in most cases the ability to pull the trigger… but it seems the state of the world economy is affecting their judgment, the media’s message is still unstable and spending a large sum of money isn’t really popular…. but who is it not popular with? The ones that lost their portfolio’s in 2007 – 2009 or the Govt because of their gross debt… If you want a roller coaster ride just look at the stock market…. There is no shortage of people reinventing themselves and coming back up the social ladder.. Everyone is a little more conservative today and without a doubt are expecting a good return on their investment – what I mean by that is VALUE for their hard-earned or saved dollars…. Our buyer is still present, we just need to spend more time with them then we did in the past… Build a base of a trusted advisor or liaison between the parties… Stick to the fight when hardest hit, find the gem they are looking for….as a seller you need to be the gem in the market place by having VALUE attached to your listing… a gem is shiny too… can you outshine the competition?

Sales: Jan – 39 Feb – 22 March – 21 April – 37

 May – 47  June – 54 July – 31 Aug – 20

Remember you need to pull the trigger to have a smoking gun…As for August we are back in the game with over 20 sales in the first two weeks… thank our lucky stars or better yet the team of realtors out there in the market place making it happen and not on the beach somewhere else with their family enjoying this gorgeous weather. Real estate is and has always been a unique opportunity when your decision is based on a lifestyle choice and not your primary residence. It is a choice one makes based on family and dreams; but it is also one that is calculated from a strategy stand point and when the media tells you it is a buyers market…. that is what you’re expecting when you hit the negotiating table…don’t give up, a purchase in Whistler will be one you won’t be disappointed with…

Happy Negotiating!

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