With property prices in the Vancouver Real Estate market dropping, many people who bought into pre-sales as a short term investment in the past 2 years are feeling a sense of regret. It may not be long now for us to start hearing news of people walking away from their pre-sale contracts. If you are thinking about walking away from your pre-sale contract here in Vancouver there are a few things to think about before you do….

Can I legally walk away from my pre-sale contract / deposit? 

Filed under: Condos, Developments, Downtown Vancouver, Interest Rates, Statistics, Vancouver Blog, concord pacific, foreclosures, tips, vancouver | 1 Comment »

The current Vancouver Real Estate market is one that is perfect for trading up. In that we mean, if you have been considering in moving up in the real estate market from a 2 bed to 3 bedroom or from a smaller home to something with a bit more room the current market is a great time to do so…. why you may ask? 

Consider this…

If you were to take 5% less on the sale of your home with an asking price of $800,000 which equals $40,000. Then go purchase your dream home at $1.2 mill at 5% below asking price which equals $60,000 are you ahead?

Filed under: Coal Harbour, Condos, Developments, Downtown Vancouver, Interest Rates, Luxury Real Estate, North Vancouver, Real Estate investment, Statistics, Vancouver Blog, Yaletown, false creek, tips, vancouver | 1 Comment »

Here are 10 affordable Real Estate Investments available Downtown Vancouver. They are a mix between studios and 1 bedroom’s and offer considerable value in the Vancouver Downtown real estate marketplace, not to mention that the owners are open to offers. Check current rental rates at craigslist.

With low interest rates currently available, waiting for further price decreases may not pay off if interest rates go up. If you are looking to just stop paying rent or for a rental property the 10 properties below maybe worth a look? 

1. # 1201 789 DRAKE ST           List Price: $149,000

Filed under: Condos, Developments, Downtown Vancouver, Interest Rates, Real Estate investment, Statistics | 1 Comment »

The Intrawest ski resort company has $1.68 billion in debt due Oct. 23, and the company’s owner, New York-based Fortress Investment Group, is struggling to rearrange financing to keep the operation afloat, according to a report published in the Financial Times on Friday.

Intrawest owns 10 ski operations and about 15 vacation resorts around North America, including Mont Tremblant in Quebec, Blue Mountain in Ontario, Panorama in British Columbia and two heli-skiing operations.

New York-based Fortress controls Intrawest via a $1.37-billion equity stake that it bought two years ago. People familiar with Fortress say there is a low probability Intrawest will file for Chapter 11 bankruptcy protection, the Financial Times reported.

Filed under: 2010 Olympics, Condos, Developments, Interest Rates, Luxury Real Estate, Recreational Property, Vancovuer Projects, Waterfront Properties, false creek, whistler | No Comments »

The Bank of Canada won’t even wait to see the September inflation report, being issued Friday by Statistics Canada, before cutting interest rates further Tuesday, according to analysts who expect another cut of at least a quarter point.

Despite a surprise half-point reduction earlier this month, in co-ordination with reductions by central banks around the world, markets are pricing in at least another quarter-point reduction Tuesday.  Should I buy in a down market? 

Filed under: Interest Rates, Statistics, tips | No Comments »

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.

Filed under: Condos, Developments, Downtown Vancouver, Interest Rates, Statistics, Vancouver Blog, Yaletown, foreclosures, tips, vancouver | 4 Comments »

Bank of Canada slashes interest rates

KEVIN CARMICHAEL

Globe and Mail Update

OTTAWA — The Bank of Canada dropped its key lending rate by half a percentage point, and indicated that further cuts will be needed to insulate Canada from the effects of a U.S. economy that teeters on the brink of recession.

“The deterioration in economic and financial conditions in the United States can be expected to have significant spillover effects on the global economy,” the central bank said in its statement Tuesday.

Filed under: Interest Rates | No Comments »