Well I am going to go out on a limb here and suggest that for most of us, if we owned a vacant home, we really would need to sell it. Is the property vacant? I don't think it would be a stretch for many to accept that a vacant property is one we would need to sell. It could be vacant due to a death or to an emmigration. In either case it doesn't bode well for bargaining strength.
I primarilly focus on the Richmond market on this blog, but I felt it necessary to compare Richmond to the rest of the Real Estate Board areas to see if my thinking was correct, that there are too many vacant homes for sale in Richmond, and that it just doesn't feel "normal".
Here is a summary of vacancies by area ranked from highest to lowest for Single Family Homes only. While I often produce specific addresses, I do not wish to be a reference source for break and enters, nor do I wish to kill the golden goose. Consequently, no such list will be produced here. I am happy to work through specific listings with buyers who wish to get in touch with me.
As for the local vacancy champion, Richmond, the specifics of these 226 vacancies are startling:
The median price of these vacancies is $1,580,000.
There are 49 properties asking over $2,000,000
61 properties asking between $1,6000,000-$2,000,000
16 properties asking between $1,400,000-$1,600,000
23 properties asking between $1,200,000-$1,400,000
19 homes asking between $1,000,000-1,200,000
34 homes asking between $800,000-$1,000,000
24 homes asking below $800,000
As is apparent, the listings are skewed disproportionately towards high end properties and that is where the deals would be.
Tsawwassen, Pitt Meadows... "Ni men hao?" Wilkommen to Richmond"... This is the time to structure that move.
|Area||Total SFD Listings||# Vacant||% Vacant|