Here I am in beautiful West Vancouver, BC.  I was here last year with clients/friends, but in the Northern Vancouver area.  Both are gorgeous.  As I did last summer, I am experiencing the other side of the Palm Springs, Calif. real estate reality.

No Short Sales!

Strange, but true.  The Banks here are regulated,therefore, no unregulated run up of property value..just a steady, gradual rise.  Now, the Vancouver market appears to be blazing along.  In fact, at a dinner party the other night with 4 couples, 3 of the couples had purchased their first homes in the Vancouver area within the past year!  All are paying top $ and shared with me when asked, that "This is a Seller's Market!"  The dinner conversation turned to California real estate, and the explanation of Short Sales and how we got into this mess.  The looks on my Canadian friends' faces when we really started getting into the price/sf of homes in my desert area vs. cost to build/sf, was brilliant! 

"How can they afford to sell those homes that cheap?"

"Short Sales!"  Then the Short Sale talks begin. 

I do a fair share of equity sales in California as well as my Short Sales.  I have a fair share of the Canadian buyers purchasing their winter residences, and part of the reason I'm up here is because of a home that hasn't sold yet.  My client and I are doing some investigative work..why is it still on the market after 6 months?  I can tell you for SURE, that it is not a Short Sale. 

It is no wonder our Canadian friends are purchasing in California..particularly, the winter resort area of Palm Springs.  It's a quick flight.  The Canadian dollar is crushing the US dollar, and the winters here are cold, while us desert rats average about 80 degrees throughout the winter months..I cannot think of a better place to be in the winters.

Back to the investigative work today...working my California Short Sales as needed, but had to share here on SSS how lovely it has been to re-visit the real estate world of urgent Buyers.