Vancouver Real Estate Investment Lesson #1. Buy Low & Sell High
No one says it better than Warren Buffet… “When others are being greedy, be fearful. When others are being
fearful be greedy!” The Berkshire Hathaway CEO follows his own advise as he snapped up several billions in stocks in the last few days. Why is Warren buying when everyone is trying to sell? The simple anwser is the very reason Warren Buffet has become one of the wealthiest investors in the world.
Could the same be said for Vancouver Real Estate? We are seeing the 1st dip in pricing in close to 7 years, with healthy price reductions across all boards savy real estate investors are quietly picking up properties at deeply discounted prices.
As a realtor we are watching recently sold pricing and are simply amazed! Falling prices simply indicate that we are that much closer to the next rise in pricing. The old adage says…”Buy Low, Sell High” and simply enjoy your home.
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Filed under: Condos, Developments, Downtown Vancouver, Interest Rates, Statistics, Vancouver Blog, Yaletown, foreclosures, tips, vancouver
if prices are just starting to drop
would it not be a better idea to wait
for further price drops……
after all prices will revert to the mean
which will make affordability that much
easier……
I think anyone would be crazy to buy right now, we are just starting our dip after a HUGE 7 year run, there could be a long ride down.
I highly doubt Warren Buffet would invest in Vancouver real estate right now.
Great lesson. Too bad stocks are down 50% and houses are only down 10% so far. If “savvy real estate investors” are picking up properties, how come sales are in the toilet? Show me a single listing that I could buy today with 5% down and start making positive cashflow and I might believe you. How about 10% down? 20%? Good luck…
Once Vancouver and Victoria RE has fallen 50%, we’ll be much closer to the bottom, and then I might believe your spin.
I think its better to wait. Specially with Canadian dollar dropping recently and US elections taking place. Its better to wait it out and see how the market moves, i think.