Latest news with #SteveSaretsky
Yahoo
31-05-2025
- Business
- Yahoo
Should Canada Post stop delivering letters? FP Video looks at what's ahead for the postal service and economy
With Canada Post struggling to survive, FP Video looks at what measures might be taken to save the ailing postal delivery service. We also examine two major economic red flags as home sales in Canada reach crisis levels and Canadian banks ready themselves for a looming recession. Plus, a closer look at the small but powerful commercial smelt fishery. Ian Lee, Associate Professor, Carleton University's Sprott School of Business talks about how nothing short of a major overhaul will save the Crown corporation, including dropping all mail delivery in five to 10 years. Realtors John Pasalis from Toronto and Steve Saretsky from Vancouver speak about how Canadian home sales have sunk to historic lows. Rebecca Teltscher, portfolio manager at New Haven Asset Management, talks about the state of Canadian banks as they report second-quarter earnings. The Great Lakes region drives a $8-trillion economy and supports millions across major cities like Toronto and Chicago. Lake Erie, the smallest lake, plays a unique role with its commercial smelt fishery, a lesser-known but vital industry. Money in the bank: FP Video looks at what the markets may bring At home and abroad: FP Video on continuing tariff turbulence
Global News
27-05-2025
- Business
- Global News
Vancouver realtors turning down unrealistic clients as home sales lowest since 2020
Real estate experts say there is another indication that the real estate market in Greater Vancouver is changing. Vancouver realtor and investor, Steve Saretsky, says the market is becoming so saturated that realtors are turning down listings. 'The inventory is stacking up, it's not selling,' he said. 'Which is to say, there are a lot of realtors out there working for free.' Home sales in Greater Vancouver are at their lowest since 2020 and Saretsky said sellers' expectations in a buyers' market are not always aligned with reality. This means that listings that may have sold fast and over the asking price now might take more resources and time to close the deal — if at all. Story continues below advertisement 1:36 'Sign' of the times: B.C. real estate signpost company offers credit for return of posts Realtor Roman Krzaczek told Global News that people need to adjust their expectations a little bit. Get breaking National news For news impacting Canada and around the world, sign up for breaking news alerts delivered directly to you when they happen. Sign up for breaking National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy 'It seems like there's a lot of listings that are being relisted because they didn't sell last year and people are expecting the same price and that's not very realistic in today's market,' he said. Krzaczek said many people do not realize that realtors have to put time and money into selling a home, including spending money on marketing materials. 'It cost me about $2,000 to list the property and it's a lot of work; (it) takes a couple days to get the whole package put together,' he added. He said he has to look at other properties that are available, take photos of the property to list it and complete any reports as needed. Story continues below advertisement Krzaczek said he recently lost a listing because the seller wanted to post the property for higher than what Krzaczek thought it was worth. 'Somebody else listed the property now,' he said. 'So I wish them luck. Great people. I really hope that they sell because that's, you know, they really need to move.' 2:07 Metro Vancouver condos sitting empty amid housing crisis He added on Monday he saw a listing on Quadra Island drop from the $1.4 million list price to $1.3 million. 'My listing, we recently dropped the price from $1.2 (million) to $995,000,' he added. 'Big drops in price and beautiful properties, water or oceanfront properties. So there's definitely some of that happening. And as long as we have clients, sellers that are realistic and they do listen to us, pricing is not a science, it's more of an art form and I'm fully immersed in the market… If it's priced well, it will sell. If it is not, it probably won't sell. Not every listing sells.' Story continues below advertisement Krzaczek said he has not seen price drops like this in the market since he started in the business 10 years ago. 'Usually a price drop is $10, $20, $30,000,' he said. 'But $130,000 $200,000 drops, that's huge. So I don't know what's happening but it looks like there's some kind of a price adjustment happening right now.'
