(604) 767-3703

Vancouver Real Estate – Real Estate Sales Soar through the roof – well, not so fast!

May 14, 2009

Filed under: Real Estate Market,Vancouver — Richard Morrison @ 1:36 pm
I love my followers! Click LIKE or TWEET my post!

Wow! We seem to have had a recovery! Just on our end we had tremendous amount of sales as well – But Keep a sharp eye out there!

The red-inked headline in The vancouver Sun last week week: “Vancouver real estate Sales Soar” was not all exactly accurate (are they ever?), however it is further empirical grounds that we may see a recovery in the B.C. housing market – which is quite dependent on consumer confidence.

However, airing on the side of caution, we advise to make a sound purchase whereby you will have positive cash flowing vancouver real estate or, if you are a first time buyer, that you can afford real estate in vancouver! Surfing the current wave with a sharp eye out for both deals and danger.

The good news is that the average payment per month per mortgage has dropped about $800 per month. The inventory in vancouver is being taken up and this will allow asking prices to strengthen. North Vancouver homes have already witnessed a few multiple offers!

The real good news is that we have a strengthening of consumer confidence and, in conjunction with the good news from the vancouver Sun headline, there was lot of other good news last week.

– Scotiabank National real estate Trend reported a rise in housing demand & fewer listings across Canada.
– Statistics Canada reported that building permit values soared, including residential permits & multi-family
– Major banks cut mortgage rates, bringing the best five-year rate to 3.50 %
– BC employment rose by 17,000 (Canadian employment by 36,000).

Now put this in combination with good news from the Bank of Canada keeping their interest rates low for an entire year, first time home buyers can now get in the market with (ahem) an affordable price (relatively speaking).

There are excellent deals out there right now. Call us today and we will set up a very unique system for you to find that positive cashflow property or (if you are a first time buyer or a veteran) you will benefit from our knowledgeable team!

We look forward to hearing from you! Call us anytime at 604-767-703 or email us at

Let’s get started!

I love my followers! Click LIKE or TWEET my post!

Leave a Reply