//Oz Buzz #3

Oz Buzz #3

Oz Buzz

“When I look at people on treadmills I wonder how alpha lions, the strongest, expend the least amount of energy, sleeping twenty hours a day; others hunt for them. ‘Caesar pontem fecit.’ ” 

–Nassim Taleb

#OZBUZZ #REALESTATEMARKET #BOOK #AUDIOBOOKS #MUSIC #CANADAECONOMY #INTERESTRATES #INTERESTRATEFORECAST #WORDSIHATE #LIVELIFELARGE

THE WORLD

Much discussion/debate/suggestions received! Thank you but I am not engaging in a one on one basis. What I believe is stated below … your call as to what you believe. Cheers!

  • The US is tightening the money supply and increasing interest rates.
  • Major nations around the world are seeing a huge collapse in their currencies (notably India at an all-time low).
  • Interest rates are on the move in England, the USA and likely in Canada this month.

We are seeing a continued tightening of credit worldwide and while it is slow at this time we must take note! A credit crunch is brewing! See the to-do item.

REAL ESTATE THOUGHTS

Since most “Buzzies” are in Vancouver and since Vancouver is in the throes of a major market change, we focus the numbers here. Vancouver home sale activity has now dipped below long-term historical averages (last month’s sales were 29 per cent below the 10-year June sales average) and the supply of homes for sale in Metro Vancouver has reached a three-year high in June… Government-concerted efforts to crash the market may well be underway. Not a crash yet, but keep it up guys and you will have brought about one!

The real estate market in Vancouver has now declined for the last four months.

Sales are down 41% over last June and 14% since May. At the same time, we experienced an increase in listings by some 40% – this is now the largest increase in properties for sale since 2015. While prices are still hanging in there, the decline in sales coupled with the increase in listings bodes for a further slowdown during the summer months and will affect prices as well. Please note the Vancouver numbers below. We should note that across the country sales are down but some places – notably Toronto – are seeing a firming in prices.

VANCOUVER 2018 2017 % APRIL 2016
Sales 2,446 3,899 -41% 5,193
Price 1,074,200 1,034,500 +02% 1,108,000
Active Listings 12,280 9,430 +30% 8,968
DETACHED
Sales 778 947 -41% 1,969
Price 1,758,000 1,718,500 +02% 1,812,900
Active Listings 6,796 5,842 +16% 4,485
CONDO
Sales 1,246 1,904 -35% 2,116
Price 695,000 656,200 +06% 527,500
Active Listings 3,769 2,422 +56% 3,488

(Townhouse listings up 63%.)

The Fraser Valley also reports a 43% decline in sales and a 30 percent increase in listings. Prices however are still much higher (+24% in condos for instance).

Major Point: Check the to-do item if you’re planning to buy/sell into this market.

BOOK

The ONE Thing by Gary Keller. I read this book relatively often. His view on multitasking (does not work) and time plotting I have adopted. So, read it.

What’s the ONE Thing you can do such that by doing it everything else will be easier or unnecessary?

In the number one Wall Street Journal bestseller, Gary Keller has identified that behind every successful person is their ONE Thing. No matter how success is measured, personal or professional, only the ability to dismiss distractions and concentrate on your ONE Thing stands between you and your goals. The ONE Thing is about getting extraordinary results in every situation.

ONE Thing stands between you and your goals. The ONE Thing is about getting extraordinary results in every situation.

MUSIC

British Artist Tove Lo, you may no know but you will realize this big hit in NA. John Newman is also not well known here. I love his quirky voice.

Tove Lo – Habits

John Newman – Love Me Again

RADIO

On air with Michael Campbell on fabulous MONEYTALKS every Saturday sometime between 8:30AM – 10 AM. The Hot Property that we discuss there, is available by subscribing to the OzBuzz Dispatch at Jurock.com

QUESTIONS I ASK?

Why do we use the same phrases and words over and over? Like:

  1. Thrown under the bus (A favourite of all)
  2. Par for the course
  3. Back to the drawing board
  4. Slim-fit (arrgh). Whenever I go shopping … all clothes are made for skinny men, not stately shaped ones – like me.

TO-DO

  1. US interest rates will rise 4 times .35% each time this year. Canadian interest rates will rise 3 times more, starting in July. If you agree that a credit crunch is brewing – take action!
    1. If you have a credit line, fix it or extend it now.
    2. If you have a mortgage, fix your interest rates for at least five years or for as long as you wish to keep the property. Rates are rising and mortgages will be harder to qualify for.
    3. Expect interest rates to tighten EVEN further for consumers than currently indicated if this currently slow credit crunch deepens. However, bond yields may stay even to low, since the world is looking for safety and foreign countries as well as all pension funds are piling into US 10 year and 30 year bonds.
  2. If you need to sell your property, get a professional realtor, list it at today’s price (not last year’s) and offer something unique (buy down a mortgage, offer a vendor take back, etc.).
  3. If you do not need to sell, don’t worry – all our history points to a dip from time to time and then full recovery to often new heights. We are already seeing the return to price stability in Toronto. We do however expect a slowdown continue in Vancouver for 2018.

LIVE LIFE LARGE

Whatever you have today, look around you – you dreamt it in the past. Dream Big!

Yesterday’s dreams form today’s realities.
Tomorrow’s reality will come
From today’s dreams
Big dreams, big goals
Big challenges, big rewards

I will dream big
I will dream in technicolor
I will dream in surround sound
I will dream big

I will grow into my future best!

Look up all the “Grow into your future best” cards at: www.commitperformmeasure.com

Have a great week and grow into your future best self!

!!!Ozzie Jurock’s Real Estate Outlook conference is just 3 months away!!!

PS: Ozzie Jurock’s Real Estate Outlook conference is just 3 months away. Here’s a real opportunity for youWhat is it? Buy an early bird ticket now (regular price $127, early bird only $77!) at www.jurock.com

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Disclaimer

Please note that any response to any email or any invitation to any meeting is accepted on the understanding that “Jurock Real Estate Insider (JREI)” or the “Jurock Case Real Estate Action Group (JCREAG)” as the case may be, are not responsible for any result or results of any action or actions taken in reliance upon any information contained in this posting or meeting, nor for any errors contained therein or presented thereat or omissions in relation thereto. It is further understood that the said JREI and JCREAG, as the case may be, do not, pursuant to this posting, purport to render legal, accounting, tax, financial, planning or other professional advice. The said JREI and JCREAG may or may not own properties discussed at meetings or receive or not receive referral fees at any meeting you may attend as a result of this posting or invitation. The said JREI and JCREAG, as the case may be, hereby disclaim all and any, liability to any person, whether a purchaser of any offering, a reader of any offering, or, otherwise, arising in respect of this postings and of the consequences of anything done or purported to be done by any such person in reliance, whether whole or partial, upon the whole or any part of the contents of this postings. If you respond to any posting JREI and JCREAG fully expect that you get independent legal/tax/investment/mortgage advice as the case may be.
By |2018-07-06T16:01:48+00:00July 3rd, 2018|Oz Buzz|0 Comments

About the Author:

Ozzie helps members build an action plan toward real estate success with his Real Estate Action Group, arming investors with the best information and insights possible with his Jurock Real Estate Insider. More info OzzieJurock.com

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