Vancouver home sales plunge 31%

[rutland1]

That kind of language is what realtors have been using to skew numbers for years. ^^^^^^^^^^^^^^

[Static]

....because house prices are plummeting in Vancouver...and Kelowna. Average sale prices mean squat...what ones money today can buy compared to 2008 is what matters.

[Sn0man]

....because house prices are plummeting in Vancouver...and Kelowna. Average sale prices mean squat...what ones money today can buy compared to 2008 is what matters.

This is true.

I have both friends and family in the RE business and they all say the same thing - prices have clearly fallen over the last few years. "Plummeted" might be a bit strong. Many homes have lost around 20% of their pre-recession value - some more, some less. I'm also in the camp that says if your home value per your assessment has gone up (from '08, or even '09 values), appeal it.

[Rjamer]

My assessment is down about 3.5 % from last year.. Now that Vancouver and Toronto are beginning to get whacked you will probably hear more bearish talk from the media..

My prediction about the media was right with in day.. http://www.rogersmagazines.com/mme14ja2013.jpg

[zyzzx]

True, you nailed it on Macleans! Unless you have been hearing the same story every single year, over and over for as long as Rekabus has been telling us it would fail, I would wager Rekabus is a subscriber...

Here's 2007...

2008..

2009...

[Glacier]

I think I'd be appealing my assessment if I were you Glacier.

Screw that! The average property value has gone up 4.8% in my jurisdiction, so if mine has only gone up 2.4%, then my tax burden will be going down. (That is assuming I own the place, which i don't.)

I know people who have appealed and ended up paying more tax as a result. Personally, I would never take that route if my place has gone up less than the average.

[Static]

Taxes are not based on house prices.

[Rjamer]

True, you nailed it on Macleans! Unless you have been hearing the same story every single year, over and over for as long as Rekabus has been telling us it would fail, I would wager Rekabus is a subscriber...

Here's 2007...

2008..

2009...

Just in case Rek is not a subscriber, this one is for him. He will love it.. Don`t worry,,the Okanagan is a special niche market and will never crash as everyone wants to live here.. http://m.publishing.rogers.com/macleans ... using.html