People see this headline in the news, and they think PRICES are down 45%.... That's not what this means! This means that sales VOLUME is down 45%. On the west side of Vancouver, 586 properties sold in September of last year, and only 323 sold in September of this year. This means that houses ARE selling.
As Ozzie Jurock says: "The market is off by 50 per cent. So what. The key is to get your property placed into the 50 per cent which sells now." Instead of moping around and whining that nothing is selling, you should ask yourself why YOUR property wasn't one of the 323 that DID sell in September!
So what can you do to sell your house? Instead of rewording things that have been said elsewhere, I'm just going to tell you to read Ozzie Jurock's article, here: http://www2.jurock.com/articles/columnist.asp?id=1115
As for prices--we know they're down -- but how much? I'll have stats for you on that next week.