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D’Arcy Harris –Weekly Real Estate Update November 28, 2005
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People talk about what is likely to happen when the market corrects, and if it does, what will happen. The reality is that real estate corrections aren’t drastic one day events, but rather move slowly and surely in one direction over extended time periods. The only thing stopping a downward trend? More buyers, and having a listing under 200K in Vancouver really opened my eyes to the number of people who are looking in that (near) impossible price range. They are the people who are waiting on the sidelines for any correction, and they are the ones who are going to jump in and scoop up properties that make sense for them at that time.
As a market trends downward, buyers who wouldn’t normally pay attention are all of a sudden activated by the opportunity a price correction represents, thereby adding more buyers to the market. In this realtors humble opinion, and barring any unforeseen economic disasters, this real estate market is well shored up to withstand any correction, so stop worrying and get out there...
Regards,
D'Arcy R. Harris
Real Estate Broker
Sutton Group - Westcoast Realty
www.VancouverRealEstateInfo.ca
P.S: Wondering what your home is worth? Probably more than you think! Find out with an Over the Phone Market Evaluation, sign up here:
http://www.vancouverrealestateinfo.ca/redir.asp?page=homeeval.asp&t=list1
P.P.S: Each month, I publish a series of articles of interest to homeowners – money saving tips, household safety checklists, home improvement advice, real estate insider secrets, and much more that DOESN’T fit in this newsletter:
http://www.vancouverrealestateinfo.ca/redir.asp?page=gold_newsletter.asp&t=list1
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Success Story of the Week
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Congratulations to J., proud (former) owner of my listing on W. 6th. The unit sold on Monday for $500.00 under the asking price ($187,500), making it one of the best deals in town. The building needs some work, and it took a very specific sort of buyer to make it happen. They decided to keep the tenant and collect the checks, which is a great way to buy real estate.
Also, congrats to K. and J. who are moving into their new homes this week.
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Market Tidbit
----------------------------------------------------------------- “The Canadian Real Estate Association expects demand for homes to slow down in 2006, but not by much. Prices will still rise, although not as quickly as in the past few years, said chief economist Gregory Klump. And since the easing will be so gradual, it won't have a widespread effect in Canada, unlike in the United States, he said.”
http://www.theglobeandmail.com/servlet/ArticleNews/TPStory/LAC/20051122/RCREDIT22/TPRealestate/
Also, just so you know:
"The property transfer tax is charged at one per cent of the first $200,000 of a property's value and two per cent on the remainder. First-time buyers are exempt if they spend less than $325,000 in Greater Vancouver, the Fraser Valley and Victoria, or $265,000 elsewhere."
Read about getting rid of this tax grab, something I think is worth supporting:
http://www.canada.com/vancouversun/story.html?id=017561f5-a7d9-4e91-ba0f-872a7685b4d3&k=67974
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Weekly Real Estate Listings
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These are all the current listing out right now; in fact, some of them are so new they’re not even posted on Realtylink or MLS.ca. Want to get them before they’re even in the newsletter? Sign up for the VIP Buyers Program. (http://www.vancouverrealestateinfo.ca/redir.asp?page=vip_buyer.asp&t=list1) If they don’t load, cut and paste the links into your browser.
Vancouver Lofts:
http://mlslink.mlxchange.com/Pub/EmailView.asp?r=1518660877&s=BRC&t=BRC
Investment and Revenue Properties:
http://mlslink.mlxchange.com/Pub/EmailView.asp?r=26885437&s=BRC&t=BRC
Vancouver House Foreclosures:
http://mlslink.mlxchange.com/Pub/EmailView.asp?r=1740246003&s=BRC&t=BRC
Vancouver Apartment Foreclosures:
http://mlslink.mlxchange.com/Pub/EmailView.asp?r=1770233808&s=BRC&t=BRC
If you see any listings that interest you, simply reply to this email with the MLS number and the time that you’re available to view it and we’ll set up a private tour just for you. Or have them emailed to you daily rather than weekly, sign up for the VIP Buyers Program:
http://www.vancouverrealestateinfo.ca/redir.asp?page=vip_buyer.asp&t=list1
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Insider Secret Revealed!
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Would you like to have access to all the new listings that match your home buying criteria, including area, price range and style of home, emailed to you directly? Tired of leafing through hundreds of listings to find what you’re looking for? This is a free service and will allow you to view only the homes that you're interested in seeing. Become a VIP Buyer and beat other buyers to all the hot new listings in Vancouver. How does it work? Visit:
http://www.vancouverrealestateinfo.ca/redir.asp?page=vip_buyer.asp&t=list1
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From the News -----------------------------------------------------------------
Home Credit Boom Slowing: http://www.theglobeandmail.com/servlet/ArticleNews/TPStory/LAC/20051122/RCREDIT22/TPRealestate/
Cut Transfer Tax, Says Committee
Government urged to help first-time buyers enter property market by reducing or scrapping tax
http://www.canada.com/vancouversun/story.html?id=017561f5-a7d9-4e91-ba0f-872a7685b4d3&k=67974
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Contact Info
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I supply this information to you free of charge and without obligation with the hope that when you do decide to buy or sell your home, you’ll call me to help make it a reality.
If I do all this for free, imagine what I do when we’re working together!
I invite you to forward this newsletter on to friends and family.
If you are receiving this newsletter from someone else and would like to sign up to receive it directly, please click here:
http://www.vancouverrealestateinfo.ca/redir.asp?page=silver_customform.asp&t=list1
Comments and suggestions are always welcome, thanks for reading!
D'Arcy R. Harris
Real Estate Broker
Sutton Group - Westcoast Realty
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