Market

Summer 2008

There is beginning to be a larger inventory of listings on the market.
Properties are still selling if they are priced right. From the looks of
things, we will have a slower summer than we've been used to. If you're
thinking of selling, price it sharp or wait for the Fall 2008 market.

Spring 2008

To everyone's astonishment the world has experienced a worldwide price boom that has been fuelled by historically low interest rates and easy credit.
Now that the prices have peaked in many major centers, the world is now
experiencing a price contraction. Because of the deflation in U.S. real estate prices, there is now a severe solvency crisis that is spreading throughout the world markets.

In Vancouver we have seen listings take a little longer to sell, depending
on how well the listing is priced. In some instances we are still seeing
multiple offer situations.

Now that the Bank of Canada has reduced the bank rate, we are expecting
Financial Institutions to pass on that reduction to consumers in the form of
lower borrowing rates. We are confident that the Vancouver market will
continue to be very stable.

Christmas 2007

We are still experiencing a very strong market. Unlike our neighbours south of the border, our Vancouver market, and indeed, the Canadian market in general, is still very active. Interest rate cuts are expected in the near future so we expect to see this market continue.

Merry Christmas and Happy New Year!

Fall 2007

Market is still strong. The high Canadian dollar means that our interest rates should be staying flat, or maybe even going down. That, coupled with a strong economy means the market should still be fine as we head into autumn. Look for a continued brisk market.

Summer 2007

The market has been extremely busy so far. We expect our phones to remain
busy for next couple of months. Mortgage rates have taken a little bit of a
jump up in the last two weeks, however, they are still low enough to
maintain a good market.

Spring 2007 Market Update

Buyers are quick off the pace. Well priced listings are selling quickly. We don't expect any big increases in price, nor do we expect any sharp declines. We are looking forward to a strong and stable market.

Merry Christmas!

The market has slowed down a little but well priced properties are still selling within 1 week of being listed. There are still numerous properties that are selling over "asking price". Unlike certain parts of the U.S. real estate market where sales have ground to a halt and listing inventories are at record highs, the Greater Vancouver market is still very active and healthy. We expect the healthy market to continue in 2007.

Autumn 2006

Apparently the U.S. market is suffering from foreclosures right now. Eventually you would think it would translate into lower prices in Vancouver. Other than an expected seasonal slowdown, we really haven't noticed any major deterioration of the market price. Yes, some properties are taking a little longer to sell. But that really is more of a function of making sure that the property is priced correctly. Properties that are priced correctly will sell within weeks of being listed. We believe that because we have a high employment rate, a positive economic outlook, and continued low interest rates, sales will remain strong with only a slight dip in prices in the worst scenario.

Summer 2006

Hot, hot, hot,.... and we're not talking about Global Warming. There is still a line up of eager Buyers. There is still a low inventory of property for sale. Both components are necessary for an overheated market. Summer is traditionally suppose to slow things down. And although interest rates have increased over the first half of the year, we haven't noticed an abatement of this Seller's market. In our opinion, the only thing that will stop the market is a significant increase in mortgage rates, say 1.5%-2%. We don't think mortgage rates will increase and we are expecting the same market conditions to continue for the rest of the year. Stay cool, it'll be a hot one.

Late Spring 2006

We're just into the Spring Market now and it is as busy as we thought it would be. Although mortgage rates are up slightly, there has been no cooling effect on real estate prices or the volume of sales. We have noted many recent situations where Selling Prices are up to 10% higher than the Asking Prices. The market is very, very, hot. Multiple offer situations are the norm.

Spring 2006

It's only January and the Buyer's are picking over what few listings there are. There are many "multiple offer" situations and consequently sale prices higher than asking prices. We are looking forward to another fabulous year.

Winter 2005

MLSLINK Benchmark Price for October 2005:

Vancouver East	Benchmark Price	1 Year Change (%)	3 Year Change (%)	5 Year Change (%)
Detached	$513,218	19.4	59.2	73.5
Attached	$361,991	8.9	55.5	77.6
Apartment	$225,582	24.3	62.7	93.9

BENCHMARK PRICE: Estimated sale price of a benchmark property. Benchmarks represent a typical property within each market.

Fall 2005

The market is still hot. A low number of listings, and a high volume of sales, has pushed prices to new peaks. As no significant change in the mortgage rates are expected, this Fall should be very active.

Summer 2005

Normally the market tends to cool down a little this time of year. We call it the "Summer Doldrums". Although the market was looking like it was cooling down near the election, we have noticed that the market has just picked up steam again and is extremely active. So we have three words to describe the upcoming Summer Forecast, "busy, busy, busy".

Spring 2005

When will the insanity end? Can people really afford these prices? How can the prices continually go up like this? ....these are very common questions we hear practically every day. With interest rates expected to rise in the US, many people feel Canada's rates will rise too. But does this mean the end of cheap mortgage rates? If the rates don't go up by more than 1- 1 1/2 % the market should be ok. Right now there seems to be more questions than answers but as long as there isn't a major increase in mortgage rates, the real estate market will continue to be busy throughout 2005.

Winter 2004 – Early Spring 2005

As we are nearing the holidays, the market has definitely slowed down to a normal pace. Buyers and Sellers are now becoming preoccupied with the Festive Season. This lull in the market may present some very good buying opportunities, as we expect the Spring Market to be extremely robust.

We also expect the East Side market to do extremely well in terms of price appreciation. As the suburbs of Vancouver spread farther from the central core of the city, the automobile traffic is becoming far too congested to be manageable. We believe that as this situation persists, Buyers who need to work in downtown Vancouver, will find that living in closer proximity to the central core area will be increasingly more attractive. East Vancouver is only 10 to 15 minutes by car to downtown Vancouver, yet the prices may be up to 50% cheaper than properties that have a similar proximity to downtown, yet are on the West Side. Look for a continued resurgence in East Vancouver real estate prices.

Merry Christmas and Happy New Year! See you then!

Fall 2004

The Real Estate Market is still pretty good. The frantic pace of the Spring 2004 has slowed down to a more normal market. Prices are still quite lofty but some Sellers are reducing their asking prices in accordance with the stabilized market. Also interest rates are expected to take a little bit of a jump up, making homeownership a little more expensive than it has been.

We expect a reasonably busy season as Fall is typically an active one.

Summer Market

Interest rates look like they may be heading up. Many prequalifyed Buyers are forced to buy now to take advantage of their pre-approved rates. The listing inventory has increased since the beginning of the year but anything that is good, that is priced correctly, is sold quickly. It isn't unusual to find a house sold two days after the information hits the Multiple Listing Service. We expect a strong summer market. Prices should level off as the Buyers who have pre-approved mortgage funds at the lower rate finish buying.

Spring Outlook

We are experiencing the same Sellers Market as we had last month, only worse.

Buyers are lined up 4 or 5 deep to get a chance at purchasing available listings. These record low interest rates and sunshine are really heating up the market.

Prices are definitely heading up!

February 2004

The market is "FULL STEAM AHEAD". It's still a Sellers market with Buyers lining up to pick over a very scarce Listing base. Many listings barely hit the market before there are multiple offer situations.

Tip for Buyers: Wear slip-on shoes when you go to view houses.

January 2004

The market is just getting started!!!

The listings are a way down. Buyers are snatching up everything and anything that comes on the market.

Interest rates will continue to be low, or even lower. This is definitely shaping up to be a continuation of the Seller's Market that we've been experiencing for the last year or so.

Winter 2003

Here it is November 2003 and it‘s still a rip roaring Seller’s market!

Prices are up and properties are selling very quickly. As we head into the Christmas holiday season there will be even less selection. Every decently priced listing that comes out in early January will be snapped up. This will probably continue until at least about May or June 2004.