I can't stress this more and whenever I work with a new client I always make sure that they understand.  Any real estate purchase should have at least a 7-10 year horizon. More... much more if possible. I’m not a fortune teller, I'm a Realtor, no one can tell you what the price of Vancouver RE is going to do in the short term (1-5 years) but I can tell you that RE when properly purchased (this is why you need an experienced full time Realtor), in a good location and held for the long term (10 years or more…again the longer the better!) will take very good care of you. In the short term (1-5 years) who knows, it could go up or you could be down 25%, however RE when held for awhile is very forgiving. So always try and buy with a long ...

This is a prime example of what I have been saying for years. The Royal Bank has done a 180 degree turn. That housing bubble they were calling for in Toronto just last month is off the board. Now everything looks fine and Toronto buyers should have no problem absorbing that entire new condo inventory coming on line in the next few years. Don't worry the report on Vancouver is on the way too. This is a classic example of why you should never listen to the short-term speculation about real estate markets and always focus on the long-term values of owning a home. What prices do in the short term don't matter - it's your home.  You're not a speculator or gambler, it's where you and your family live. Stay focused on the 3 criteria you s ...

I just finished uploading this House for sale, 10855 SPRINGMONT Gate, Richmond, British ColumbiaBeautifully design renovated family house on Steveston North. Including new kitchen with Kitchen Aid stainless appliances, granite countertops and island, new baths room & double glazed vinyl windows, designer colour scheme, hardwood and laminate floors throughout. New high efficiency furnace and front door. Functional floorplan with 3 BR beautifully kitchen and two bathroom up, 1 BR and large kitchen, family room,another laundry room down(mortgage helper). Close to Steveston Village and amenities. Move in anytime. Hurry!

I'm starting to see bonus commissions being offered again by developers on some of their pre-sale projects. These come and go as the market does. When the markets hot you don't see them but when the market for condos starts to slow like we’re experiencing now...Out they come! These bonus commissions are cash incentives offered to agents on top of the regular commission if they bring a buyer to the developer. And yes you heard right I have seen a new Mercedes-Benz offered. Personally when I see a bonus offered I immediately think one of 2 things: 1) The unit is overpriced! or 2) there must be something wrong with the unit (ground floor overlooking the dumpster or into a brick wall, above the parking entrance etc). As a Realtor I hav ...

Our Finance Minister just rolled out a second phase of new mortgage changes. I don't think they are going to have much of an effect on the overall market. They are really targeted towards that first time buyer who is trying to squeeze every last penny out of his qualification in order to buy that home. The 2 main changes focus on high ratio mortgages, which are down payments that are less than 20%. Firstly, the maximum amortization period is now 25 years down from the previous 30 years. Secondly, the maximum loan value is capped at 1 million. With a conventional mortgage (20% or more down) you can still choose 30 year amortization and of course there is no limit on what you can borrow based on your qualification.I think these chang ...

Selling your principal residence and renting because you've been watching the doom and gloom on the news and listening to the arm chair quarterbacks who know very little about Real Estate is NOT a good idea. You're playing with fire in my opinion. Over the past 20 years that I've been involved in Real Estate, I have seen this strategy backfire most of the time. Why on earth would you speculate with your principal residence?!. You need a place to live, it's the best tax shelter we have these days and real estate is a long term commitment. Who cares what the market does year over year. Always think long term. So you're going to rent for a few years and then buy back in......Sure you are. I bet you're going to time the market right at ...

Welcome to your monthly update on Real Estate in Vancouver AUG 2012   Luxury Market Stumbles as Asian Buyers dry up Midway through 2012, BC's luxury market is showing signs of cooling down. Through the first 6 months of 2012, 243 homes priced at over $3 million have sold compared to 466 through the first 6 months of 2011. While this may seem like a significant drop, 2012 is still far ahead of 2010, when 375 $3 million homes sold over the year, 169 in the first half. Macdonald Realty manager Matthew Lee, whose Vancouver office sold the most expensive home in BC so far this year ($19.8 Million), believes that the market has reached a tipping point. "Prices have been going up so much the past few years that w ...