July 2022 Market Update

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Whistler Real Estate Market Detached Houses

In the July 2022 Whistler real estate market update, the main observation pertains to the detached house segment which is now in a Buyer’s Market. The other two segments, townhomes and condos remain in a Seller’s Market. Again we saw that since February 2022 the number of sales has decreased and the inventory available for sale has increased. That combination lowers the sales to active listings ratio. That ratio determines whether we are in a seller’s market, a balanced market, or a buyer’s market. For the detached house market, the inventory has increased but the demand has not kept pace. This has to lead to a Buyer’s Market for this segment.

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Referentail Offers

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When is an Offer not an Offer?

The following explanation is courtesy of my broker, Sutton Group-West Coast Realty:

“In an environment of multiple offers, a listing agent might be presented with an offer containing what is generally referred to as a ‘‘referential purchase price clause’’ (RPPC). The RPPC is a means by which a buyer endeavors to establish a purchase price by reference to prices contained in competing offers. The thrust of the RPPC is for a buyer to piggyback on the next highest bona fide offer which is acceptable to the seller. Such a clause might read as follows:

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Unauthorized Accommodation

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Unauthorized Accommodation Rental Suite

The topic of buying a Whistler property with unauthorized accommodation is expansive. Unauthorized means that the space was not identified in the original plans which were submitted to the municipality to obtain a permit.

This post is going to focus on unauthorized accommodation in the form of a rental suite. A rental suite within a residential property (house) is common in Whistler. The definition of such a suite might be: “A suite is a separate living area contained within a dwelling unit functioning as a self-contained suite, typically complete with its own kitchen, bathroom, and bedroom.” They are colloquially known as an in-law suite, mortgage helper, nanny suite, non-conforming suite, and other similar descriptive names.

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