What More Do You Need to Buy Some Real Estate?

Parity. Feels good rolling off my tongue. Pear-ah-tea... Yes, it hurts our exports but by God it feels good to plonk down a loonie in Seattle and watch their little faces light up. It gets me every time.

With a higher loonie, watch our economy grow at a faster pace without fear of inflation. (high dollar is deflationary) This means more jobs, more money and more profits. As it relates to real estate, my prediction is that a stronger economy means that this latest real estate boom is more likely to have legs, and for much longer, than most people may think.

If you're "waiting for the market to go down before buying" or "waiting until after the olympics to buy/sell" you may want to rethink your strategy, 'cause it's a whole new economy out there...

Incomes are going up, unemployment is at a 40 year low, rental vacancies are below 1%, which means rents will rise too. Canada is a resource based economy and resources are all at all time highs. Baby boomers are retiring to our shores from across Canada, selling their houses in the prairies to buy condos in Vancouver. Oh and we also have 14 billion in the bank.

ETC.

The Harris Real Estate Group
Sutton Group Westcoast Realty
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Vancouver Real Estate

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Is This Bad Advice?
This is from my brother Brock Harris, a real estate broker in Los Angeles, one of the most cut throat markets in the world. It was quoted in the LA Times, and got over 100 responses from irate renters. I agree with everything,including the tone. Read on, and weigh in if you must!

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Buyers are nuts about price.

I think it's a stupid way to choose a house.Why?

All day long I ask potential buyers "How soon do you need to buy?" and "What areas are you looking in?" and all I hear is: "I am flexible, I just want a good deal."

It's crazy - most buyers will wait YEARS and live in houses they don'teven LIKE to get that "good deal."

I say bollocks.

Ever talked to someone who bought well and bought early? What they paid is IRRELEVANT. The homeowners in Burbank who paid $240K instead of $220K(they decided they couldn't wait for the "good deal" anymore), and it's now worth a cool million?

The guy who bought the commercial property on Hollywood Blvd in the mid-90s for $350K (NOT a good deal, in fact he overpaid 10%), and it's now worth $4mil?

Heck, my uncle and aunt in Vancouver "overpaid" for their house back inthe day. Yep, they spent $35K on a house they could have gotten for$33,500. Boo-hoo, the place is now worth $500K. They bought it because they LOVED it.

I will take a well-located, prize home I love at MARKET price all day long over a not-so-nice place at 30% below market. Because in ten years it's not going to make a bit of difference to me, and the nicer place will be worth more anyway.

I am calling through my entire database and I am not kidding you, there are people who have been waiting since 2001. "I'm not in the market," they say, "but if a really good deal comes along, give me a call."

Yeah, right.

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Be sure to check out the comments this posting received on the LA Times site...

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We have a huge demand for Lofts right now. If you own a loft, and are thinking of selling, WE HAVE BUYERS RIGHT NOW WHO WILL PAY TOP DOLLAR FORTHE RIGHT PLACE. Email us to set up a no obligation meeting.
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Active Listings:

Yaletown 2 bed/2 bath
Contact D'Arcy Harris to view
Beautiful 900 Sq. Ft. 2bd, 2ba with a great layout. Stainless steel appliances and granite counters throughout. Updates include new paint, newfloors and bathroom appliances. Yaletown location just steps to Elsie RoyElementary, David Lam Park, Sea Wall and all the best that Yaletown has to offer. View Pics and VIRTUAL TOUR

Coal Harbour 2 bed/2ba
Contact Grady Harristo view
Coal Harbour's Venus! Steps to Robson Street, Seawall and Stanley Park. Desirable SE corner unit, 2 bed, & 2 bath split floor plan. 9' ceilings,double-sided gas F/P, maple cabinets, granite countertops, & tiledentrance. This highly sought after building has 24 hour concierge service,a meeting room perfect for large social events, boardroom, indoor pool,sauna, whirlpool, fitness centre & 2 guest suites. View Pics By Clicking Here

Great Surrey Location, Seller highly motivated to sell
Contact Gary Foltyn to view
This clean, 4 bed/3 bath home in desirable neighbourhood has large living and rec. rooms, 2 gas fireplaces, mbdrmw/updated ensuite and W/I closet. Features include: new roof, furnace, H/Wtank, G/D Opener, security system and R/I vacuum. 7242 sq' private lot offcul-de-sac, close to schools and shopping. Best home in this price point.View Pics

Builders: Get 'em while they're HOT!
3 Lots for sale on Marble Hill. Approximately $70,000 in savings here in comparison to relative lots in this community. When these hit the market,they will not last long...Email Gary for more info orClick Here to view

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Real Estate News:

Is it better to own than it is to rent?
"While achieving the same wealth as owners is possible in seven of the nine Canadian cities, it is not easy," the researchers reported. "In those cities where it is even possible to accumulate more wealth than owners, renters must be extremely disciplined. They must invest on average nearly 80 percent of the difference between the annual cost to owners and the cost to renters."

High house prices spur switch to condo-building Surging multi-family home construction has pushed 2007 Lower Mainlandhousing starts above last year's pace for the first time, Canada Mortgage and Housing Corp. reported Tuesday.

Canada Is Giddy About the Loonie And Twitting U.S.
Even Canada's finance minister, Jim Flaherty, couldn't resist the opportunity to stand up and speak Thursday, soberly telling reporters he has been worried about the fragile U.S. housing market; Canada's housing market, on the other hand, is "remarkably different."

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For some no obligation Real Estate advice, give the Harris Real Estate Group a call. tel: 604 771 1637 Fax: 604 488 0885

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101-272 E. 4th Ave.
Vancouver B.C

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