Going to share a few stories working from both from the buying and selling side in the Vancouver market these days, and the importance of keeping a long term view.

Not much has changed in the past 3 months. The market is still in a wait and see mode. Inventory levels remain ultra low and for the most part, condo prices have stayed firm. what I am seeing is fewer multiple offer situations and the majority of homes selling slightly below their asking prices. In the detached market, prices are down 5 to 8% in the starter home price, and 10 to 15% for luxury detached priced over 5 million.

I just posted my 200th video on Real Estate in Vancouver and my insights on how to navigate through it. Wanted to thank all my subscribers and viewers on making my video blog so popular. I enjoy doing these blogs and I’m happy to lend my experience in helping people understand how Real estate works, and more importantly the long term investors mind set that you MUST possess in order to succeed. Below are links to some of my recommended videos from the past 6 years. I would strongly urge all my viewers who are serious about learning more on investing and Real Estate to dig into my archives and watch all my videos.  Selling a Tented Propertyhttps://www.youtube.com/watch?v=dvcgS1YoydQ Location, Location, Location …The Golden Rule of R ...

Wealthy and successful people think and operate much differently form the rest of the population in a number of ways. First, they filter who they listen to and take advice from. You would never see them take advice or commentary from an anonymous blogger or pundit with little to no transparency or proven track record of success. The wealthy also possess a long term investors mind set and never a traders short term mentality. They simply buy quality assets like Real Estate and dividend paying equities, and hold them for long periods of time, regardless of current (short term) market sentiment. It’s a very simple and effective method but one that so many people try and complicate with a get rich quick, market timing, traders mentality. ...

According to a recent report by the European bank UBS Vancouver is one of the most overvalued Real estate markets when you look at the fundamentals of the local economy. ( local income to home prices) News flash the Vancouver market like many other cities dose not work off fundamentals . It’s an equity driven market, low interest rates and foreign capital are also involved. A link to a recent article in BC Business: http://www.bcbusiness.ca/vancouver-real-estate-has-always-been-expensive-and-we-have-proof Another recent article on Vancouver lack of supply and getting zoning for new construction: http://www.peacearchnews.com/news/395022891.html?mobile=true A link to a few of my older videos on this topic: https://www.youtube.com ...

I’m frequently asked by people if some of these “real estate investing with no money down” seminars they hear advertised on the radio are a good way to get started into investing in Vancouver Real Estate. I will cut right to the point here … my advice is to save your time and money and avoid these get rich quick with no money down seminars. They simply do not work in a market like Vancouver.

As of Monday Oct 17 borrowers with LESS than 20% down payment are required to qualify at the Bank of Canada’s benchmark interest rate (which is currently 4.64%). It does not mean you will pay this higher rate, but rather you just have to demonstrate that you can qualify at this higher rate. Borrowers with 20% down payment or greater will not have to qualify in this manner until Nov. 30th. This is the latest measure to try and cool the Vancouver Real estate market. Only time will tell what kind of effect it will have on the market going forward. However, I am already seeing potential sellers who were looking to sell and move up the price ladder decide to stay put, for fear of not being able to buy back in at the new requirements.

Wanted to let my viewers know that I have a new book on the way. It will cover my 30 year journey buying and holding Vancouver Real estate and dividend paying stocks. How to build a passive income machine that will supercharge your results and allow you to retire on a never ending income stream for life. I have just signed a publishing and distribution deal and my book should be available in the early part of 2017.

Wanted to get a few things off my chest in this blog. First off, don’t fall for any of the headlines proclaiming Vancouver Real Estate prices are plummeting! There have been some price reductions on high-end detached homes priced over 3 million dollars, but of course very few people in Vancouver are a part of that market. For the other 99% of the market, which is condos and townhouse prices under 1.2 million, there has not been any noticeable reduction in prices. They may very well be on the way if inventory levels creep up later this Fall and Winter but for now prices are holding firm. I wanted to also address why Vancouver is still in the stone ages by not allowing Uber. As well as several new reports including one by the Fraser In ...

It was announced last month by the Provincial Government to end self regulation of the Real Estate Council of BC. The Government will appoint a new Superintendent of Real estate to take over all rule making and regulation duties. One recommendation that may have a dramatic effect is suggesting all offers in a multiple offer situations be registered with the listing agents brokerage, where they can be viewed by the new regulator if need be. In Vancouver's hot market, buyers in bidding wars have no way right now to verify if the selling Realtor does indeed have competing offers or the number of competing offers. Eventually all offers should be posted electronically, in real time, so buyers can review all the bids.