Pretty much everyday someone asks me when prices in the Vancouver real estate market will hit bottom and everyday I say I don’t know.
I say I don’t know, because I don’t have a crystal ball and can’t see the future and as I licensed Realtor I can be liable if people take a hit relying on my predictions.
There are people out there who are saying they KNOW when the prices will hit bottom and they can tell when prices are bottoming as they are hitting bottom. Don’t trust these people!
What happens if prices stabilise and a bottom is called and then prices fall again? Nobody can accurately predict a market bottom and don’t trust those who say they can.
The market bottom can only accurately ascertained with 100% certainty AFTER it has been hit.
In making your decisions about buying or selling real estate and timing your transactions, do your own research. Read widely and speak to a variety of people with different viewpoints. Don’t rely on those who have simple answers that are too easy.
If something is too good to be true, more than likely it isn’t true.
Please leave a comment, I’d love to hear your thoughts!
Homelessness is huge in Downtown Vancouver and is caused by a lack of funding for social housing and facilities/treatment for the addicted and the mentally ill. Changes in building codes and slum clearance have also reduced the stock of affordable housing in Vancouver over the last 40 years.
It is possible to make homelessness disappear in Vancouver.
To do this we need to spend money. We need to increase funding for the mentally ill and addicted and create or rehabilitate facilities house and treat these people.
People are not homeless choice. Most of the hardcore homeless have serious addiction and mental illness issues and would have been institutionalised in years gone by.
These people cannot look after themselves let alone properly house or feed themselves. Governments along with NGO’s and charitable bodies should be given resources to house and treat these people. This would be a great way to spend some of the stimulus money supposedly coming out of Ottawa and Victoria
Homelessness isn’t cheap either. Hard core addicts need to feed their habit which can cost hundreds of dollars a day. Vancouver has recently been ranked the break-in capital of North America with per capita break ins higher than New York or Detroit.
Reduced policing costs, insurance costs, and security costs can go a long way to offset the increased costs of housing and treating the homeless.
If you’re going to buy property in Vancouver ALWAYS GET A BUILDING INSPECTION BY A REGISTERED AND QUALIFIED BUILDING INSPECTOR!
Don’t use you Dad’s buddy who used to be a plumber in the 70’s, don’t use your brother-in-law who’s into tools! Hire a professional, its the best cheapest insurance you can get when buying property in Vancouver.
Important Facts about Home Inspectors:
– All Home Inspectors in BC have to be licensed and insured as of March 31 2009. Make sure the person you are working with is licensed and insured by calling the BPCPA Inquiry Centre Toll Free: 1-888-564-9963
– A Home Inspection should cost you between $350-500 and should take about 2-4 hours to complete.
– For condos a Home Inspector should check the suite and the entire building. Within the suite, the Inspector should check the plumbing, the electrical system, the walls, the windows, the flooring, and pretty much everything that is not furniture and personal belongings. Many inspectors DO NOT check appliances. The Home Inspector should check the roof, the building envelope, the parking garage, the lobby, the amenities, the mechanical rooms and any other areas they have access to.
– For houses a Home Inspector should check the roof, the attic, the exterior cladding, the plumbing, the electrical system, the walls, the windows, the flooring, and pretty much everything that is not furniture and personal belongings. Many inspectors DO NOT check appliances.
American buyers are back in the Vancouver Condo Market! A good exchange rate for US buyers and the fact that some individuals and companies Stateside are weather the storm well means our American freinds and neighbours are back.
Is this a sign that Stimulus is bringing confidence back?
On another note this Video is the first I have shot with my new Flip Mino HD Camera. I’d love to hear your thoughts and feedback on the camera and this video from a technical perspective.
I’d love to hear your thoughts! Please leave a comment below!