Wanted to give you some frontline stories on a couple of recent solds including an extremely well bought unit that was sold during the peak COVID-19 lockdown in mid April. Now that we’re heading into June and the fear levels around COVID-19 are starting to slow, not too sure if we’ll see undersold units like this again, but you never know.
It's Saturday and hopefully you guys are getting outside and trying to enjoy some of the warmer Spring weather. In this blog I'm going to talk about what I have been up to the past 7 weeks under the COVID-19 lockdown. For the most part I've been trying to use my time productively. Reading lots of books, exercising, getting a bit of extra sleep and relaxation and of course having a bit of fun watching movies and some TV series. Would love to get some comments from my viewers on what you have been doing with your time
I just sold this Condo at B1105 1331 HOMER STREET, Vancouver West, BC Yaletown.
View this recently sold Condo or see all my home sales
While we're still in a state of lockdown in BC, the Vancouver Real Estate market is slowly starting to come back to life. 2 weeks ago I started putting the listings I cancelled back on the market. So far, interest and activity has been quite good as buyers are starting to slowly get back into the market. Much too early to predict if COVD-19 will have any lasting impact on Vancouver prices. Stay tuned for further updates later this Summer.
It continues to be extremely difficult to get anything built in this city. Many Developers are getting frustrated with the long timelines and bureaucracy at Vancouver City Hall. I’m under the belief that with our current land costs developers should be building much higher in the downtown core (50-75 stories) yet the city continues to allow low and mid-rise developments only. This lack of density is one of the main contributors to our high prices.
In this blog I’m going to do a follow up on the mortgage stress test video I did last month and some of the comments I received. More on why we're never going to save some people from themselves and why financial success comes down to one person.
I’m a strong believer that basic financial literacy should be taught starting in grade school. How to save for retirement, how to purchase a home, owning vs renting, how mortgages and leverage work, interest rates and amortization, taxes, capital gains, equity investing, the power of dividends, and passive income, the principal residence exemption and how TFSA’s and RRSP’s work. Unfortunately very little of this is taught in school even though I consider it to be every bit as important as reading and writing. You're seeing this play out now with our current COVID-19 lockdown and how many people are struggling financially after missing only a few paycheques.