Be sure to subscribe to my YouTube channel to receive notifications of my new blogs.This video is targeted to all the people I see posting on various media websites about how the Vancouver Real Estate correction is happening now and prices are about to plummet. If you’re currently on the outside looking in and waiting for a price correction to happen, then you better make sure you’re prepared to capitalize. Now, if you have been watching my blog for the past 6 years you know that I do not recommend you ever try and time markets. Especially a complicated market like Vancouver Real Estate. However, if you must, here is a checklist of what you’ll need to have ready now: 1. The downpayment. Usually anywhere from 10 to 20% depending o ...

Be sure to subscribe to my YouTube channel to receive notifications of my new blogs.Record low inventory levels in the Vancouver condo market are one of the key drivers for the condo prices staying firm or in some cases continuing to rise. Yes, you heard it here first. It’s Feb 24, 2017 and I’m starting to see condo prices rising again in the starter level price range in Richmond (priced under $350K) as well as 1 and 2 bed condos in Vancouver, priced under $900K. The 2 main drivers of this are ultra low interest rates, and low inventory levels.  There are simply more buyers than units for sale. I’m finding that the main reason for the low inventory is that many sellers don’t want to be buyers. They’re afraid of getting an accepted o ...

Be sure to subscribe to my YouTube channel to receive notifications of my new blogs. In this blog I’m going to walk you through some of the investment units I have purchased over the past 25 years. Many of the units I have purchased have gone up right from day 1 and never had a period of time where the current value was less than what I purchased them for. However, about half the units I have purchased have been worth less than what I paid for them. This has always occurred in the first 5 or 6 years and that’s why I have always advocated a minimum holding period of 8 to 10 years.  In my experience that’s more than enough time to offset any normal market correction that will always be right around the corner.The bottom line is that I ...

The Vancouver real estate market has not worked off fundamentals (i.e. what the average Vancouverite earns for a living vs the cost of home ownership) for some time now. Instead the Vancouver market like many other popular cities in N.America is an equity driven market.  These are owners who have been in the market and accumulated a great deal of equity and capital gains over the past several decades.  A new buyer has emerged called the Half’er. People who sell their detached home for say 3 million and downsize to a 1.5 million condo

This past month I came across no less than 3 more articles talking about how Vancouver homeowners are becoming instant millionaires. How regular folks working 9 to 5 are somehow being cheated and that these newly minted millionaires should not be entitled to these gains. The latest article profiles a group of East Vancouver homeowners who are in the process of selling their homes as part of a land assembly. The author tries to create a feeling of injustice and animosity towards the homeowners. These types of articles formed the catalyst for my new book (out this Spring 2017) I will leave you with an early review from a US business publication on my upcoming book. VANCOUVER, BC. - Dec. 20, 2016 - In recent years, Vancouver has seen ...

Here is my annual market forecast for the Vancouver Real Estate market in 2017. Also, the current status of the market in terms of prices and inventory levels.

Last month on the Business News Network (BNN) they had an interview with an author of a new book called “The Wealthy Renter”, that I found quite amusing. For the simple reason that there is no such thing as a wealthy renter. Throw in today’s low interest rate environment and sky high rental rates, a book like this is not worth the paper it’s printed on.

I often get asked about real estate reality shows on TV, and if that’s really how the business of real estate works. The short answer is no! Reality TV shows are far from real life, most of these shows are scripted to make them more appealing and entertaining.

By far, the biggest mistake I see real estate investors make is trying to sell their unit with a tenancy agreement still in place. Sometimes, it’s 5 or 6 months left on the tenancy. Most have no idea how much money they are leaving on the table with their final selling price.

Starting Jan 1, 2017 all owners of homes that are vacant will be subject to an empty home tax levied by Vancouver City Hall. Exactly how this tax will be enforced and how much it will cost tax payers to maintain this program is completely unknown. It’s another example of the incompetence of Vancouver City Hall and how they continue to fight Vancouver home prices by trying to curb demand via new taxes as opposed to addressing the real problem of low inventory and un-checked foreign capital.  On a side note we are now the largest city in the world that does not allow ride sharing services like Uber.  Even Edmonton had Uber!