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?
Everybody wants to know how to best time the market when buying a home. It’s just natural. Especially if you’re thinking about buying in a down market where homes prices are declining. You wonder how low they will go and whether you should wait, right?
Some Home Buyers Should Buy Immediately
You’re probably thinking: “Of course, he would say that. He’s a Realtor, and agents always say ‘Now is the best time to buy’.”Well, here is why:
If you are a seller who wants to move up to a more expensive home in a down market, now could be the best time. The longer you wait to sell, the lower the price of your home could fall.
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?
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.
Well, the signs are out the news is pumping and the commercials are rolling…Yes it’s time to vote. Despite the rain, Thanksgiving hangovers, long lineups, economic uncertainty voting is one of the cornerstones of democracy. Residents of Vancouver can go to Elections Canada website where you can find your local polling stations.
In a recent report by CBC news Canada has been voted the world’s soundest banking system, closely followed by Sweden, Luxembourg and Australia, a survey by the World Economic Forum has found as a financial crisis and bank failures shake world markets….Read the full Story
Despite much economic uncertainty in the world markets, Vancouver British Columbia is doing remarkably well. Job creation and employment demand remains high and vacancy rates in the city are an unbelievable .3% ? The Vancouver Real Estate Market is seeing the 1st significant downturn in over 7 years and prices have already come down offering a window of opportunity.
In a slow real estate market, where inventory and competition for buyers is high, sometimes the seller has to “sweeten the pot” to get the deal done. Here are four creative ideas to help close the deal.
1. Offer a Decorating Allowance
There maybe a buyer that likes the home, but just has different decorating tastes. To seal the deal, offer a decorating allowance (for painting, new carpets, or wallpaper). You can offer cash at closing, or put money in trust to reimburse decorating & remodeling expenses made within 90 days of closing, up to a maximum amount. This may be just the thing to get the deal done.
Thinking of Selling? Want to know what homes in your area are selling for?
Thinking of Buying? Want to know the REAL value of the properties you are searching?
Don’t have time to search the MLS on a daily basis?
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