Open the Georgia Strait or any other local paper and you’ll notice advertisements for apartments and condos. Most of these places don’t yet exist. Why? Because they are pre-sales!
What is a Pre-Sale?
A pre-sale is when a Developer sells a Buyer a property before that property is built or completed. The Buyer purchasing the pre-sales is buying the right to a completed property that will be built in future. In the UK and elsewhere Pre-Sales are referred to as Off Plan Investments.
Why do people buy Pre-Sales?
Pre-sales are popular with investors and other Buyers because it allows these Buyers to have the benefit of increasing prices without having to pay a mortgage, propert (more…)
A Multiple Offer Situation is when more than buyer wants to present an offer on a property at the same time. The relationship between buyer and seller goes from a negotiation to an auction, with the highest bidder winning. The Buyers have to compete to get an accepted offer. (more…)
Its been said that a picture says a thousand words.
What do terrible Listing Photographs say about the value of your home?
Poor listing photography undervalues your property and will never convey how beautifully maintained and decorated your home is. Here in Vancouver, terrible (or non-existent) photography for listings is RAMPANT! Have a quick look on Realtor.ca and you can see how many listings have either bad or non-existent photos.
For the worst of the worst check out the blog Its a Lovely Listing for a good laugh.
Getting a professional photography is one of the best ways to get top dollar for your home. I have all my listings shot by the great folks at the Real Estate Channel and as you can see they do a great job.
So remember – If you want to get top dollar when you sell a property, get professional photography!
I’d love to hear your thoughts in the form of a comment below!
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!
I recently posted on the stimulus pacakges being enacted around the world and it generated alot of conversation, which is great and I thank all those who participated.
I shot a video justifying my position and I’d like to share with you. I’d also like to hear what people who oppose the stimulus packages think should be done to deal with the financial cirsis we find out ourselves in.
The global recession has caused national governments around the world to enact huge stimulus packages to get their economies going. I think with the global nature of stimulus efforts we should pull out of this recession in line with the Bank of Canada and other commentators predictions by 2010.
What are your thoughts? Is it the end of the world? Are we going into another Great Depression?
I’d love to see your comments below.
I found this great interactive map on the Economist site and I wanted to share it. If you click on the countries you can see the details of each countries stimulus package.
It’s a buyer’s market for Vancouver real estate these days and Lowballing is a great way for buyers to get the best deal possible. For sellers a Lowball is an opportunity to get an accepted offer in a time when these are scarce.
Many buyers are afraid to Lowball for fear of insulting the sellers. With a Lowball offer it’s like anything else in life, if you don’t try, you’ll never know!
Have a look at this article below by Paul Krugman that I recently read in the Guardian. It explains clearly and in an easy to understand manner, what in the US and its effect on the rest of the World.
I am a big fan of Paul Krugman. I took Political Science at Simon Fraser University and I read alot of his stuff. I love it and I’d love to hear your thoughts!
We all go together when we go
The first great financial crisis of the 21st century has begun. Nobel prize-winning economist Paul Krugman explains how it happened, and how it can be cured
We all go together when we go
The first great financial crisis of the 21st century has begun. Nobel prize-winning economist Paul Krugman explains how it happened, and how it can be cured
I’m tempted to say that the crisis is like nothing we’ve ever seen before, but it might be more accurate to say that it’s like everything we’ve seen before, all at once: a bursting real estate bubble comparable to what happened in Japan at the end of the 80s; a wave of bank runs comparable to those of the early 30s; a liquidity trap in the US, again reminiscent of Japan; and, most recently, a disruption of international capital flows and a wave of currency crises all too reminiscent of what happened to Asia in the late 90s.
