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. What a fantastic surprise; I read the Western Investor on my way back from my Mexico vacation. I was delighted to read that our view for a solution to the increasing land and home prices in British Columbia finds some prominent support. Thank you, Frank O’Brien and the Western Investor! Freddy Marks Read the entire […] Many rural and remote acreages are being purchased this year and lots of buyers are discovering that they need the professional services of a surveyor to begin the process of securing the land with gating and fencing and to plan out the location of new dwellings and outbuildings. A boundary survey adds value to your title, it allows the title owner to confidently create a land use plan and develop the acreage to add maximum value using the land in the best possible way. If the provincial government released another 2-3% of Provincial Crown Land into the private saleable holdings we would see an immediate and lasting impact on the real estate market as supply would increase dramatically and prices would stop their continued rise. The uplifting economic benefits of homeownership could continue to grow the economy and the province and its residents would actually benefit as a result instead of being continually penalized for a population growth issue that has been neglected by governing bodies in BC. The released crown parcels could be ear-marked for specific types of qualifying multi-unit and single family affordable housing which could actually be affordable! April, May and June of 2021 could be likened to the spring of 1858 when thousands forged their way north into the Interior and Cariboo regions in search of gold and fortune. The only difference is this spring, LAND is the gold that buyers and investors seek. Canadians are in the midst of re-positioning themselves, literally moving to change their location for safety and the security of a better financial position.
Tag Archives: bc real estate market news
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.
Western Investor: Search for affordable B.C. housing starts with
The Value of a Property Boundary Survey can be Priceless!
Provincial policy changes that would make housing affordable without penalizing buyers or sellers.
The Great 2021 LAND RUSH!
Positioning for profit and peace of mind.
