The new salt spring island radio station went live this week. Tune in to CFSI at 107.9 fm or www.cfsi-fm.com My new show the "Real Estate show" had it's debue this week. I have asked another agent on the island if he would work with me on the show and it has worked out great. John is a great agent and brings lots of wisdom with him to the show.

The show is on Tuesday at 12 noon and goes for an hour. If you miss the show you can down load it from my web site at http://www.escapetosaltspring.com/Radio_Real_Estate/page_1846497.html The first show was about why hire an Realtor. The next show is about buying salt spring real estate.

Tune in to CFSI salt spring only radio station.

Cheers

Scott

I'm listing 8 condos in Mackenzie BC. They are nice 2 bedroom, 2 bathroom units with 936 sq ft of space. Check out my new site at http://mackenziecondos.blogspot.com/ .

These units are priced to sell at $45,000 each. The town is changing from a lumber town to a retirement mecca. If you buy now you are getting in at the low of the low. Machenzie BC real estate has never been lower priced.

Why rent when you can buy a Mackenzie BC condo for less.

I really think things are looking up for Salt Spring Island real estate. It seems as if the worst of the worst might be behind us. We have had lots of buyers out looking and hope to see the first deal of the year soon.

My new forum on my web site http://www.escapetosaltspring.com has been a big sucsess with lots of new comments from buyers and sellers.

The buyers seem to be waiting for a 25% reduction in asking prices and the sellers are just holding on and saying make me an offer.

Cheers
Scott

All things go up and down. The stock market is in such a state of panic that real estate is sitting. The good news is that the sky is not falling. Your house will keep standing.

The smart buyers are shopping for deals in this low in the market. They are looking for the sellers who are in panic mode and selling at extremely low prices.

If markets never came down everyone would speculate for ever. There would be no risk. Why would anyone build a car plant, do scientific research or drill an oil well. It would be to easy just to buy homes and watch them go up forever.

This is normal that markets go up and then go down, do not panic. Unless you have to sell, hang on. I really do not care what my house is worth, it is not for sale. You only actually take a loss if you sell low. If you are not selling and do not have to I would recommend ride this down turn out.

The reason I have always like big houses is that my mother, who lived through the depression taught me that every room can produce revenue. If you are tight for cash bring in a roommate, border, room for let, B&B, etc..

If your are looking for a deal on Salt Spring give me a call. There are some great deals. I really do feel bad for the poor sellers that are in over their head and have to sell.

Salt Spring has been busy at least for me but when you are the One Percent person it is busy. So busy in fact I have a new agent working with me. She is a real keener and will make your move here easier. She is very knowledgeable about Salt Spring. She was born on Salt Spring and therefore can really call herself a local. 

If you are not born here and have lived here for less than 60 years you can not call yourself a local. I have been here 7 years and some people still say "O you are the guy who bought the Browns house, you just moved here from Calgary". Well in 53 years I will be a local. I can hardly wait.

Check out Alicia's Bio here 

It is nice having someone to work with. This is the team approach to real estate we are working together. I think it only makes since other words I could never get a day off.

Cheers

Scott 

The Salt Spring island real estate market is in a state of "price compression".

Price compression is when the bottom end houses do not go down in price (they are in the 400k range and they are selling fast) but the top end houses over 2 million are dropping asking prices and are still not selling.

This real estate price compression goes all the way through the market and makes all the houses, over that bottom price, drop in price.

The market is like a slinky that is fixed at the bottom and stretched. At the top end the slinky is very stretched out but at the bottom end the links are very close. This is what happens when the market takes off; the high end soars and the bottom end is fixed in place or rises a little. When the market turns into a buyers market and there are lots of listings, the slinky retracts and the high end starts to snap back.

I have seen BC real estate listed at 4 + million and not sell, drop to 3 million and not sell, drop to 2 million and not sell, dropped to 1.5 + million and sell............ What is the house that was listed for at 1.5 million worth when a supposed 4 + million dollar house is listed at 1.5 million? Way less.

Sellers need to be the value leader in their price range to sell. The buyers are looking for deals. If sellers are really not into dropping their prices to reflect the current market conditions they should take it off the market. It would make it easier for the buyers to sort through the listings if the houses with unrealistic prices were off the market.

It is just basic supply and demand. Right now  (December 2007) there is very little demand for high end homes.

There is nothing like keeping up with the market. Every day I write my stats blog that goes into the details about Pender island real estate. The stats blog actually helps me out by making me read over every new listing, expired listing (which I usually call and try to find out why it did not sell), new sales ( I like to see how close to asking price they sold for and check them to see if they where re listed) and closed sales.

I cover all the gulf island I try and leverage the Internet to the maximum and have two system for customers who want to stay up on the gulf island real estate market:

1. you can RSS my statistical blog http://www.escapetosaltspring.com/blogs/scott_simmons/default.aspx 
2. log into my PCS system which will give you access to live market watch feed. I have an immediate sign up on my site. If you put in your email address the log in instructions come to you in seconds. check it out at http://www.escapetosaltspring.com

If you are thinking of Pender Island start to watch the market and study it. If you have any question about any listings you can email me and I will find out.

cheers
Scott

Yes it is very exciting I have a new Gulf Island real estate market watch system on my web site. Which will give you real time market updates. Instant sign up no obligation and free.

Check it out here http://www.escapetosaltspring.com/PCS_Sign_Up/page_1846491.html

It is very cool this is the system that Realtors use to keep up with the market. This is the first time I have had a immediate sign up on my site. Before you would have to send me an email and then I would log you in later. Now it is instant. Very slick.

I hope someone tries it tonight before I go to bed. It is like a stock market ticker.

Cheers
Scott

 PS I should mention my new listing very cool Funky Fulford home is how I'm calling it. Very trendy and eclectic. You can see a virtual tour at http://www.escapetosaltspring.com

This place is ideal for salt spring island potter or salt spring island artist. Offered at 649k.

Very hot new listing commercial / rental property. I think this is a great deal and should sell fast. If you are on my A list for rental I will tell you about this in the next few days.

It could be rented out or turned into a condo. It is nice to have hot new properties coming on the market. It should be signed sealed and up on the market by 4 pm Monday the 10 Dec 07.

If you would like to know more send me a email and I will fill you in on this rental property which will be in the 500k range. It makes a good income and almost cash flows at the 1% range. Which is rare for Salt Spring.

I would like to tell you more but this is just a little pre listing info to wet your appetite.

Cheers
Scott

Salt Spring Island reality check if your house is listed at over a million it will sell soon. A million is just not a million any more. With the USD in free fall the Canadian government is in close pursuit and will have to devalue the currency fast. Start up the press and print that paper money as fast as we can.

The problem is that we have a minority federal government that will need to muster a lot of votes in Ontario. Ontario is very dependent on Auto parts jobs and the high dollar will kill so many jobs. So we are in a devaluation period of paper currency. As one pundit put it currencies are in a race to the bottom.

So if you are trying to sell your million dollar house it will get easier in the spring when the interest rates will come down and the CND will drop below the USD.

cheers
Scott

This is not intended to solicit current listings.  

http://www.escapetosaltspring.com