North to south, BC markets are at different stages of a market correction. The low interest rate buying frenzy is behind us as prices fall in line with realistic lender assessments and approvals. Careful consideration, in-depth vetting and negotiation has returned to the real estate process. A welcomed change for… Start by walking your property and the roads or alleys surrounding it, and examine it like a thief would, looking for opportune points of entry. You should do this in the daytime and at night, to get the perspective of what a thief might see on foot and from a vehicle. The harder it is for a thief to get onto your property, the less likely you are to experience a burglary or property crime. Opportunity is what most criminals look for, un-gated Despite the costs of building a backyard zen, investing in your property instead of a couple costly weekend get-aways gives you a forever space that can be enjoy every day of the week. Well built outdoor improvements add value to your property, and they become unique future selling features. In my experience, buyers are impressed by extra storage, inspired by covered outdoor living areas, and excited to discover a greenhouse or garden that The southern BC Markets have shifted, with an influx of new inventory giving buyers more choices amid a slower paced sales and multiple offers have all but disappeared, for now. In the active Harrison Hot Springs market, we have seen initial listing prices quickly reduced after open house events have yielded zero offer situations. Canada’s national housing starts were down in February by 2,285 units over last year, an indicator to watch that will predict further economic pullback. Once you start knocking on the doors of unconventional home ownership you realize that there are comfortable, compliant, affordable options available, and that living large is relative to the richness of your lifestyle. Likened to free spirited eco gypsies, the ever popular tiny home movement offers real world solutions to housing affordability, maximizes land use and environmental responsibility. Home ownership is no longer a part of the Canadian Mortgage and Housing Corporation’s future plans for affordable housing in Canada. Ultra-wealthy oligarch billionaires have decided that long standing Canadian values and aspirations for individual financial security and growth through asset and business ownership should no longer be our way of life. We have already seen hyper-inflationary price increases in many sectors; shipping, lumber, gasoline, heating fuel, and the leader of the pack, real estate. An impoverishing trend that has a huge demographic priced out of home ownership, at a time when becoming a homeowner could help to hedge any hard earned wealth they have earned. “We’re not sure what problem they are trying to solve with this,” says Victoria Real Estate Board president2 days ago By: Andrew Duffy The province’s announcement that it plans to impose a cooling-off period on home purchases took the industry by surprise and solves a “problem” that doesn’t exist, says the president of the Victoria Real Estate […] Western Investor’s annual forecast of top investor towns looks at five centres that are riding out the pandemic and look solid for investors into 2022Nov 3, 2021 12:01 PM By: Frank O’Brien PreviousNext1 / 5 Victoria: industrial strata, such as this new project by PC Urban, is perhaps the best investor play in B.C.’s capital region. | PC UrbanExpand No. […] Sales of land led a 130 per cent year-over-year increase in the value of commercial real estate transactions during the second quarter of 20212 days ago By: Frank O’Brien B.C.’s Lower Mainland saw its surging commercial real estate market continue a blistering pace in the second quarter (Q2) of 2021. There were 726 commercial real estate sales […] Canadian Bankers Association says only 0.18 per cent of Canadian homeowners are underwater, despite record-high home high prices and mortgage debt 2 days ago By: Frank O’Brien When COVID-19 led to business lockdowns and layoffs early in 2020, there was widespread concern of a looming spike in mortgage defaults. Yet, despite a record rise in Canadian mortgage debt […] Canada’s largest land owner tells you they care about the plight of the low and middle class Canadian not being able to afford a home for their family, and then turns around and spends federal & private land management proceeds for anything but actually improving the housing crisis. Their promises are just like the supply chain – broken at best.
All posts by Freddy Marks
Positioning for Profit in a Correcting Market.
Assessing your property for security
driveways, hedges around an unfenced border, gates without…
On the fence about building that shed?
Financial Lockdown Fuels Market Shift.
The small of it… ending the Tiny Home hypocrisy.
Who Is Your Buyer?
Home is where the Hedge is.
Province to introduce cooling-off periods for home buying
Top western towns for real estate investors 2021-22
Lower Mainland land sales surge to nearly $600 million a month
Mortgage defaults remain very low, lenders say
Qualified Buyer ISO: Affordable Family Home
