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MARKET UPDATE, first half of 2013
The first half of 2013 has turned out to be sporadic at best. We have experienced, since the beginning of the year, a market revival from January to March with high market activity in many segments, only to have a quiet April, followed by a busy May. The peak activity this year occurred in March. That being said there were various hot spots and cold spots in the Vancouver market.
These hot spots typically had an excellent response with lots of activity (if marketed properly) and sold, in most cases, in multiple offers.
The apartment condo market was hit especially hard again this year with the Westside faring better than downtown. Upgraded houses in the upper end, over $1.6M and into the $2-3M’s, were met with low turnouts and long exposure periods. Once again, new houses were a difficult sell this year. Historically, new houses were devoured by offshore demand. This demand being absent today has created a large over supply of new product sitting on the market relatively untouched.
Interestingly enough we are seeing a very elite crowd from China/Taiwan buying up investment properties and also securing the larger lots to build on for themselves, or these lots are purchased by high-end developers servicing this market. So there remains a contingent of the offshore $100M+ crowd actively building here.
The media unfortunately is reporting negatively on the market as a result of a number of forecasts beginning with Moody’s Investors Service report in March citing a potential 44% drop in pricing across Canada. A number of negative articles followed the release of this report creating a lack of consumer confidence in our market. When buyers hesitate and hold back, the market softens. So really it becomes a self-fulfilling prophecy. From what I can see we may still see have another softening over the summer of 10% in pricing and stabilization by fall. The good news is, all these buyers who have been holding back will eventually buy and when this happens we will once again see a steady and healthy appreciation in our Vancouver market.
With all this in mind, we are currently in a fabulous market to buy in, sell and upgrade in, and even downsize into a retirement condo. Many of our clients have benefitted dramatically through this market. As always, Adam and I are happy to meet with you and discuss your goals so we can design the best strategy for maximum gain to you.
WEST POINT CYCLES
One of our partners in business is well known West Point Cycles. We believe supporting local businesses that provide the same level of customer service that we give to our clients. We find their wealth of knowledge and service level exceptional in all our past dealings with their team. Through our business relationship with this great company we are able to pass on up to 15% savings at their stores to all our clients. Just take the attached Preferred Client Card into any location and receive this discount off your next purchase. So, if you have been planning to get that new road bike, hybrid, trail bike, or just need a few accessories or a tune up – please enjoy the savings on us! Happy summer cycling!
WE NEED YOUR HELP! Ride to Conquer Cancer June 15-16, 2013
Your donations are badly needed and make a difference!!
We are proud to announce that once again we are participating in the Ride to Conquer Cancer this June! Marty and Adam have ramped up their training rides so they’ll be able to partake in the 2-day cycling event on June 15-16. As we are rapidly approaching the event we need your support to reach our minimum fundraising goals this year – and we have a ways to go!
When our team had the opportunity to tour the cancer research facilities this spring, we received first-hand knowledge as to how the money we raise in this annual Cancer Ride is put to use. We saw agency scientists working side-by-side with their clinical colleagues, an approach that has helped BC achieve the lowest cancer incidence rates and mortality rates in Canada. But more still needs to be done…
Please go to the www.conquercancer.ca, click on “BC”, then “donate”, click on “search for a team”, then enter “The Cat’s Ass” to be directed to the Team Marty Pospischil fund-raising site. There you will be able to make a tax-deductible donation to our team so we can reach our ambitious goal!
New Website – May 2013
Team Marty Pospischil is pleased to announce that we have a NEW WEBSITE!
This site features not only a new look and feel, but also the latest community events we’re engaged in, our quarterly updates, and information about the valuable and unique services our team has to offer.
Feel free to check out our new website at www.teammartyhomes.com
Rudy Pospisil – Cycling Around The World for Cancer!
Another cancer survivor, my brother, and Adam’s father, Rudy Pospisil is currently cycling through Europe to raise funds for cancer treatment and research. He is circumnavigating the globe by bicycle through 30 countries specifically to raise money for 3 cancers (breast, prostate, and lung cancer). So far he has travelled half way around the earth travelling over 12,000 km and 140,000 feet of elevation. He has travelled through deserts, floods, and out-cycled alligators . . . .recently from Vancouver to Mexico and across the US continent from San Diego to Miami Florida. In each Country he cycles in the major cities with local firefighters police and citizens to a fundraising event. He has also started annual fundraising events in Prague and Budapest.
To support Rudy follow his blog and GPS tracker please visit his website at http://www.firefightercycle.com
STaRS Fundraiser Event – April 2013
Last month, we were pleased to both sponsor and participate in a fundraiser for STaRS, the Southland’s Therapeutic Riding Society. The evening was full of enthusiasm and gaiety, with funds being raised to allow those in financial hardship to partake in these unique therapeutic services.
For someone with a disability, riding a horse is so much more than a fun hobby – it can be the road to recovery. With the use of specially trained horses, therapeutic riding provides physical, psychological and social stimulation to individuals with developmental conditions such as autism and cerebral palsy.
We are delighted to support non-profit organizations such as STaRS which allows those in need to receive the numerous benefits of four-legged therapy, including enjoying the bond created between horse and rider that fosters a lovely, healing trust.
For more information on STaRS, you can visit: www.stars.ponies.ca
Vancouver Marathon – Endurance is the name of the game!
On May 5th this year both Adam and I ran the Vancouver Marathon! Why am I telling you this? Well, because a marathon is a challenge, and we pride ourselves on running a team that meets challenges head on to get the job done. Similar to selling homes in a demanding, ever-changing market we adapt, modify, and perform.
Sunday May 5th was a beautiful spring morning. It was warm, the crowds were out, and we enjoyed a scenic, entertaining run from Queen Elizabeth Park, around UBC, along Spanish Banks, and around Stanley Park before crossing the finish line downtown.
The most entertaining:
The naked guy with sandwich board signs as we passed Wreck Beach.
The most encouraging:
The cheering crowds as we approached the Burrard St bridge in Kits. Brought a tear to my eye (thanks guys!)
The most difficult:
The mid day heat resulting in many runners dropping and getting ill.
The most satisfying: Crossing the finish line!