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Paying the Price to Move up the Property Ladder

April 24th, 2015, Owen Bigland

I have to laugh when people talk about being priced out of the Vancouver detached market. Some seem to think they are entitled to find a job and be able to buy that dream home in their 20’s or 30’s. Unfortunately Vancouver is like most desirable cities where you're not under 2ft of snow for most of the year. It’s expensive to buy a detached home. Most people here start with a Strata property, work hard, save their money and move up the property ladder. There are ways to speed up the process... if you think like Wayne Gretzky. In this video i’m going to give you a real life example of what I mean and how you need to make some sacrifices along the way if you want to make it to the top. Kind of how life works too! ...
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Posted in Video Blog

Buy Low Sell High

April 15th, 2015, Owen Bigland

Sounds easy enough, however very few people are able to do it.  In fact many people tend do the opposite and here’s why - In my experience when prices start to drop and we are in a strong buyers market there tends to be a lot of dark clouds and negative news everywhere you turn. People think that the market has not hit the bottom so why buy now… wait and let the prices continue to drop. Instead they wait on the sideline until the prices recover and everything looks safe. We quickly move back into a sellers market with multiple offers and lot’s of buyer competition and that’s when they decide to buy. I’m seeing a lot of buyer fatigue out there and some frustration over multiple offers and bidding wars. Some buyers are telling me they ...
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Posted in Video Blog

Multiple Offers Are Back

April 7th, 2015, Owen Bigland

If you are a buyer in this current sellers market and if you’re going after a good home that’s priced properly, then chances are you’re going to be in competition with other buyers. A multiple offer situation can be stressful because you have no idea how much the other buyers are willing to offer. You need to go in with a simple mindset. You only get one shot at it! So make your best offer. You should feel good about your offer no matter what the outcome.
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Posted in Video Blog

Buying a Home in Vancouver is Stressful

March 27th, 2015, Owen Bigland

If you’re in the market to buy a home in Vancouver or Richmond then you know the market is very active and prices are up. Chances are when you find a home you’re going to have to act fast and you’ll probably be in competition with other buyers. It can be extremely stressful and you may be filled with doubt.  My simple advice is to see it through, there is always going to be some second thoughts and stress even in a buyers market.  As long as you buy and hold that home for 8 to 10 years and you only buy what you can comfortably afford you’ll do fine. Certainly much better than paying market rent over the next 10 years.
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Posted in Video Blog

Freehold vs Leasehold

March 16th, 2015, Owen Bigland

There are 2 types of residential properties you can purchase in BC. The most common is Freehold where you own both the structure (home) as well as the land it’s built on. The other type is Leasehold, where you do not own the land. Instead you are renting the land on a prepaid lease for a set number of years. In this video I will walk you through what the sale of a typical Leasehold property looks like and why I would not recommend someone buy this type of property.
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Posted in Video Blog

It's a Sellers Market!

March 5th, 2015, Owen Bigland

For the past 3 years we have been in a buyers / balanced market. Well you can’t keep Vancouver Real Estate down for long. We have officially moved back to a sellers market, especially for detached homes and Townhomes.  Condos, with the exception of a few select buildings remain balanced.  It’s a good time to be a seller in Vancouver and Richmond. Chances are you will be selling and getting top of the market prices. As expected I'm getting a lot of calls from potential sellers asking if now is the time to sell. I tell them it depends on your circumstances and why you want to sell. Watch and I will explain when it makes sense to sell and when it can lead to trouble.
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Posted in Video Blog

Price Appreciation - Condos vs Detached

February 23rd, 2015, Owen Bigland

Had a viewer send me an email asking for my opinion on buying an investment property near transit, diversifying his stock portfolio with Real Estate and moving up the property ladder to a detached home one day. In this video I answer his questions and help reaffirm that he’s on the right track. 
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Posted in Video Blog

Understanding How Real Estate Markets Work

February 12th, 2015, Owen Bigland

I was in New York city in December attending an investor summit. In this video I'm going to share a couple of interesting market statistics. Including the importance of always having a long term holding period and why smart investors look at market corrections as buying opportunities.
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Posted in Video Blog

2015 BC Assessed Values

February 4th, 2015, Owen Bigland

Here’s my annual recap on the 2015 BC property assessments and how your proper tax is calculated each year.
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Posted in Video Blog

Why do Vancouver Condos Appreciate at Different Rates?

January 26th, 2015, Owen Bigland

I have many examples of why buying quality will always result in better appreciation over time. When you’re looking to buy a downtown Vancouver condo ask yourself (A) Would I rather own a unit that’s in a popular building, where very few units ever come up for sale and when they do, usually sell quickly and for multiple offers; where the units still tend to appreciate even when the general condo market has been flat? Or  (B) Not pay much attention or do much research on what I’m buying but hopefully everything will work out fine! It really is a tale of 2 cities when it comes to Vancouver condos and why it’s so important that you hire a Realtor who can help guide and consult you towards the quality buildings and neighbourhoods that are ...
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Posted in Video Blog
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Owen Bigland

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