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Stupid Offers are Driving Real Estate Prices Up

The Surrey real estate market is out of control and it’s much the same across most of Canada. With so much demand from buyers with easy access to cheap lending and a massive lack of properties for those buyers to pick from, almost every transaction we are a part of in 2022 involved the dreaded “bidding war”. This is when there are competing offers from multiple buyers to try and purchase a single listing.

In this video, Surrey REALTOR® Steve Karrasch of Macdonald Realty, discusses what many of those competing offers look like in today’s market. And without trying to be insensitive to anyone having trouble getting into the market, Steve and his partner Chandani both suggest that if some buyers and their agents would just stop making “Stupid Offers” to purchase homes, that the market may stop rising so fast as a result.

The core idea is that a property that receives 3 offers should sell for less than the same property that receives 11 offers. So now that we have tried to not offend everyone (probably with little success), please enjoy the video and comment below with your thoughts on the matter.

If you are looking for help or have any questions regarding real estate in Surrey, B.C. or the Fraser Valley, please reach out below using which ever way is most convenient. We also service real estate sales Langley, Delta, White Rock, Abbotsford, Mission, and more Greater Vancouver Cities.

Book time with Steve
call or text: 604-549-5828
email: steve@krproperties.ca

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