💸 Sellers "Dig In" Deeper & Sell For LESS!

[@donm2067]

How come when you say these things its acceptable, but when I say it I am arsehole?

[@SteveKarrasch]

Because I take the time to post an explanation of what is really happening, in a relatable video, that takes a whole bunch of time and effort to produce. Rather than your approach of poop posting one negative comment at a time.

[@donm2067]

@@SteveKarrasch Don't forget who was ahead of the curve. You guys just got to the bear side of the line.

[@SteveKarrasch]

I'm no bear. I just try to tell people what I see in the market, regardless of what the market is doing.

[@donm2067]

@@SteveKarrasch Same. Strange to say this, but thanks for a good video 👍

[@clairerobin6207]

In Chilliwack, sellers (in 2024) were listing for the May/June 2024 market value all the way to December. It's insidious. It's why we haven't seen a market price drop in Chilliwack as far as listing prices go. And the newest listings in January 2025, are also listing at May/June 2024 peak prices. There are some listings that are at market price (very few), and they sell within 2-3 weeks. But that build-up of listings isn't happening in March as usual, it's beginning in January. It's going to be an interesting year.

[@reisschancellor9753]

Accurate. I noticed too.

[@SteveKarrasch]

This is the way.

[@markb8360]

Spot on. I am watching sellers dig in and lose. 1.9 M, 1.75M, 1.65M… each time they lower to a price that WOULD have sold six months ago. Reality is punching them in the face and they STILL can’t see it.

[@Vm19879]

Thank you, Steve, for making this video with details of inventory levels and what recently sold in the market. As always, you are bang on target.

[@SteveKarrasch]

Why do you think many Seller's refuse to acknowledge market value when it comes to listing their homes for sale?

[@ydoIstillcare263]

I think they may feel interest rates are going to go down. There was lots of talk of a decrease in Jan and April. Bottom line, we had low rates for 10 years and many think that's how we got to all time highs in the first place. Bring rates back down to 1.6% and tell me that won't make a difference. They may be wanting to beat the spring market. They may feel a camaraderie with other sellers not dropping their price significantly. They may feel many illegals will come up once Trump takes power so may not want to deal with the vetting of this group if selling a rental. They may have wanted to sell earlier but were under the impression capital gains were going up and now that this may not happen, people may just want top dollar and pay less tax? They may also want top dollar to get as much as they can if they have a mortgage coming up; especially if they bought at the high. They may also feel their home is better than their neighbours.

[@clairerobin6207]

I think people got used to high prices and have now come to expect peak value, regardless of market value. It's them believing they are selling too low if they sell at market. They perceive they are making a big, costly mistake.

[@tmb3224]

Because society has been brainwashed over the past 20years to think that RE only ever goes up!

[@DummMoney-rr1fi]

cause they hire a push over agent

[@Casey-qm1nd]

Because rates have been coming down since 1981.... Duh. If you told someone in 1940 that rates would be around 20% in 1981, people would have laughed at you. If it was 1981 and you told someone that rates would go to almost 0%, they would have laughed too. Now we are back in the cycle where rates stay stubbornly high, and people will get used to refinancing into higher rates. It's really simple. The rates will go higher than most people can imagine, as they have the recency bias of falling rates.

[@DummMoney-rr1fi]

No more for the Algo comments, this channel is actually good

[@reisschancellor9753]

Accurate. Some listings in East Van are clinging on for 120+ days, not budging on the price. Some specs are very attractive in location and size but still unsold.

[@ogopogo1397]

I have in fact noticed on ALL listings they are yesterday prices. I immediately discount. This is true of rental listing as well. And those listing keep popping back up unrented just like the for sales go unsold.

[@LiseRoy-d2c]

Love your honesty about the market

[@SteveKarrasch]

Careful, you might not like my honesty when the market goes up. Thanks for watching!

[@KickAssets]

Anyone smart in Canada would sell their house..take the million bucks and buy around 6-8 houses in Japan and live off the rent :)

[@CAPTAIN_FANTASTIC_WORKS_OUT]

@KickAssets, Japan has a horrific demographic problem. They are shrinking. I would not bet on real estate in a shrinking market.

[@priuss6109]

​@@CAPTAIN_FANTASTIC_WORKS_OUTlol 😂 talk about stupid

[@DummMoney-rr1fi]

dumbest thing i ever heard. I'm on board with investing in population growth markets of between 1-2% per year, at least

[@KickAssets]

​@@DummMoney-rr1fiI own 17 houses and doing pretty well with minimal risk. 🎉 to each their own ❤

[@LiseRoy-d2c]

Prices way over market value

[@SteveKarrasch]

Market value is always market value. It just changes.

[@burlsmcburls7305]

Do your predictions of gradual decline hold for single family detached properties as well, Steve?

[@SteveKarrasch]

So far.

[@dustins9611]

As a buyer, you need to find a trusted realtor who can give you accurate comps and who will help you negotiate a realistic price... I've been following upper Fraser Valley listings for over a year now and it's funny to see how many properties keep coming back up and see how they keep thinking the prices should be 5 - 10 % higher than what they couldn't sell for 18 months earlier.

[@SteveKarrasch]

Book a call.

[@EVDemBooks]

Fact. My realtor was useless. Did my own comp and ran it through ChatGPT. Ended up closing below my realtors recommended initial offer.

[@Twirlybird-m9n]

Are market values close to the new tax assessments ? Or even below? Might be a dumb question, I’m just curious what you think.

[@SteveKarrasch]

Depends on the city. Last year in Surrey they were very close.

[@RageandSig]

Double post Steve, can you do a video about Jon and how you are not paying off your mortgage but are investing in lue of that.

[@clairerobin6207]

The first indication of a price reduction in Chilliwack, BC. We began monitoring the Chilliwack market in March 2024. Around June 1, 2024 we went to our first house viewing. It was a townhouse listed for $605,000. It had a price reduction to $585,000 around September 2024. It sold at the end of December for $535,000. Perhaps there are others, I guess we will know soon enough.

[@Stormshfter]

Sellers think they will outlast buyers. If inventory levels fall, they will win. If inventory rises they will lose. What you want doesn't matter

[@SteveKarrasch]

Inventory is rising.

[@ML-vk8ev]

Exact same mentality with the used car market. Times are changing, and sellers refuse to acknowledge it. They list vehicles based on last yrs prices and then get angry about "low ball" offers. If a vehicle is on marketplace for 5 months, it's clearly overpriced. Multiple "low ball offers" is actually the market price.

[@dr.indeanadegraff6929]

What you are saying is true. My friend listed her TH for 1 million in Jun 2024. She got 3 offers for 964; 969; and 972. She refused them all as she wanted more. Her listing expired in Dec. Now she's trying to relist and has been told by realtor that the value is now 945,000 for her Townh.. And that she'll be lucky to get 935,000. She is now stressed.

[@SteveKarrasch]

Yikes.

[@D-B-Cooper]

For sale signs popping up but I have seen only one sold sign and it was on a lot.

[@gord-zilla9914]

What’s your message to all the developers “trying” to sell presale condos. What / when’s the bottom for presale ?

[@SteveKarrasch]

Developers have holding power. They will wait.

[@gord-zilla9914]

@@SteveKarrasch this can’t be a serious answer? Developers are going bankrupt now. Eg. Thind …how long do you expect they have to “hold on”?

[@berry1669]

I'm ready to buy but for these prices

[@SteveKarrasch]

- Everyone

[@poultryboy1984]

Steve, what do you speculate the $2.5m houses in Brookswood, Langley selling for in spring 2026. Currently they are selling but 5-10% below asking. Do you think prices will be about the same, lower, or higher in this neighborhood/price point in spring 2026?

[@SteveKarrasch]

Asking means nothing. Who knows where priced will be in 15 months, but in the coming 3-6 they are heading slightly down.

[@sulemansikander2167]

Which 5 areas are good to raise a fanily in surrey?

[@priuss6109]

New Delhi, Mumbai, Hong Kong, etc. 😂😂

[@DummMoney-rr1fi]

@@priuss6109 Brampton

[@mr.d4295]

This your first video where you didn't just shamelessly pump the market like every other realtor. Keep telling people the truth and it will do wonders for your credibility

[@SteveKarrasch]

That's not true. I have many videos talking about ups and downs. I do my best to call it as the market changes. If it's up, I'll say it, if its down, same-zies.

[@DummMoney-rr1fi]

Steve K is the GOAT. He is far from a pumper

[@m.b5777]

According to Steve a house in Surrey will be worth a $100 million in a few decades. He says it doubles every few years in perpetuity

[@JackChaVideo]

@@m.b5777 You might be having a comprehension skill problem. That is not what he has been saying.

[@ParveenSharma-se2fy]

YUO DONT WHAT YOU R SAYING BECAUSE YOU R A REALTOR AND YOU CANT SELL THAT WHY YOU R SAYING ALL THIS BULLSHIT GO GET ANOTHER JOB AND STOP BULL SHITTING PRICES WILL GO UP AND YOUR R GOING TO SAY THAT IN MARCH BY GOOD LUCK

[@marcschouten3527]

I’m in Cloverdale and am seeing a lot of listing and sales. A neighbour 2 houses down has had a great place listed for almost 3 months. It’s tough, they already bought another place in the interior where they are retiring. I hope they don’t get caught in what you describe with a decreasing market.

[@priuss6109]

Fook em

[@josephlim8941]

BC Assesssment mostly condos show prices peaked 2023 assessments (for Jul 2022). 2024 assessments were down and continues down in 2025 assessments. We now have enough to call it a downward trend. What annoys me is listings like Richmond TH for $799k, get a couple of bids and seller rejects them all. Re-list for $889k and now down to $790k listing. It’s been 250 days DOM. They should have taken one of the offers back then, likely very close to $799k. 8 months of empty means $650 maintenance fee, property taxes, insurance and maybe interest accruing on existing mortgage.

[@hiltonwatkins6750]

Woed f advice… if the market is moving down you must anticipate it and give up on your dreams… if you need to sell, you are in the cross hairs. I saw several peopleget caught before. The worst danger is that you buy a hot deal no subjects and haven’t sold. I watched a guy in that predicament double down until he lost the purchase and ended up losing his house and family… all went up in smoke… that must be the worst example…

[@donm2067]

Where is true market value? Real price discovery has not happened.

[@SteveKarrasch]

True market value is what a buyer is willing to pay and a seller is willing to accept. I discover it on the MLS daily.

[@donm2067]

@SteveKarrasch ok, what if you're in my market, where it's a clear stalemate, nothing comes down in price (some how they're going up) and nothing sells. I'm looking at lots to choose from and recycled 3 year old listings. The only stuff that sells is typically higher end, and it sells to Fraser Valley people selling out. How do you get them to see selling units is the name of the game, not sitting on them. Honestly it's just a weird way to do business. Sell the damn thing for take it off.

[@johnwicks4936]

It is not so simple. We recently pulled our house off the market because prices were dropping too quickly. The issue is that the market has to drop equally across the board. I'm not going to drop my home's price when where I'm trying to move to won't drop theirs. It's an equality issue. The GTA goes up and down quickly but the outside areas are slow to change. I'm not selling low and buying high if I don't need to sell at all. If I get less in the future, that's fine because where I move will eventually adjust as well. The only people losing are the ones who HAVE to sell.

[@SteveKarrasch]

Is it possible your home isn't worth as much as you think, compared to the other one?

[@johnwicks4936]

@@SteveKarrasch No it's just how fast the market changes. We put a conditional offer on a home at a price we were comfortable with outside of the area we live in. We listed our house below what the market value was for a quick sale after 3 agents told us what to price it at. At some point you just say it's not worth it to move at this time. It didn't help it was the slowest time of the year but we have been noticing this same trend the whole time we've been looking. The smaller areas outside of the GTA are very slow at coming down to reality of the market at the present time. It may be very different where you are. Every house in my neighborhood has pulled it's signs down.

[@SteveKarrasch]

Sorry, that was meant to be rhetorical. Did you write a "subject to sale" offer? If so, you are for sure over paying for the new place.

[@johnwicks4936]

@@SteveKarrasch Yes, that was the case.

[@philmed7675]

I think a lot of real estate sales reps will be switching careers and becoming insolvency trustees.

[@vert911]

sorry steve, prices are going up. gov is starting the pumping. banks to follow in the spring.

[@SteveKarrasch]

I'll take that bet.

[@Stormshfter]

@@vert911 we don't even have a govt. The free market will finally be given 6 months to run on its own.

[@vert911]

@Stormshifter the new programs we see, for example the CMHC backed $2m reno loan, are designed to increase the value of a home/property on the backs of govt backed loans. Sorry fellas - i get agents are starving and need transactions, but we all know the pain we just saw wasnt painful enough and home prices will be inflationary first.

[@SteveKarrasch]

So no bet? If agents are starving, how will prices shoot up so fast? FSBOs?

[@DummMoney-rr1fi]

@@vert911 Vert is right

[@wildandliving]

So if it's dropping 1 percent why would I buyer not simply sit and wait

[@SteveKarrasch]

Because timing the bottom is impossible.

[@vladovsiannikov1059]

Ok no worries I’ll wait another 2-5-10 whatever it takes years and the prices will rise one way or another. Only those sellers are suffering who are desperate to sell

[@m.b5777]

Except for the last 15 years, real estate rarely beats actual inflation if you look at the last 100 years. So you may get more money in future but the money will have less purchasing power compared to today due to inflation.

[@negativetime]

In the long run all real estate prices go up. Do not sell. I know from experience. The wait is always worth it.

[@SteveKarrasch]

Agreed. If you can wait, wait.

[@amineaiffa]

Calgary prices have gone up 15% on average despite record building and access to cheap land all around the city.

[@BellaBella-jw9ef]

classic FOMO

[@gord-zilla9914]

And with falling interest rates

[@priuss6109]

And they are dropping now

[@krisk2587]

Typical real estate agent,one big B.S. comment.Guys ,sell the houses for cheap so the agents can make quick buck in one week and one opening 😂😂😂

[@SteveKarrasch]

Typical KZbin Comment. Bigger BS.

[@cryptounleashed5305]

More downaide to come. Peoppe are broke

[@bull6950]

My neighbor trying to sell their 63-year rancher for 1.99 million, and my wife's like if interest rates drops they will jack up the prices now the house is been in the market over 170 days sell sign is still outside faded white. Some people are delusional or so attached to their property.

[@SteveKarrasch]

Hope its a land assembly.