The Upside to the Dropping Real Estate Market in Canada!

So, really, why should you buy Real Estate when everybody seems to be running away from it?

Great Choice: Inventory levels of homes are extremely high all over Canada and US. It has never been a better time to find your perfect home. Even the fussiest buyer can satisfy his cravings today. Come on, if you can't make a selection today when can you do it then???

Time Is On Your Side: No more you have to rush through the house and if you like it write an offer on the trunk of your car as soon as you get out of the house. Those times are over and I'm very happy about it. Now I can make clients happier and more satisfied as I can find them a perfect home. You have time to choose and make a decision that will in fact benefit you in a long-term.

Low Interest Rates: They are historically low and the last time they have been this low was in 1950s. The prime rate is 3%. You can now get variable rate at prime+0.6% as opposed to prime+1.5% 3 months ago. Waiting any longer may not actually save you any money. Let's assume the house prices drop another 10%, you might pay $40,000 less for the same house in a year. But if interest rates go up have you saved any money? No! Your mortgage payments might end up to be even higher. Plus if you're renting how much have you spent on rent while waiting for the prices to come down? At least $12,000/year. It's all relative. Renting vs. buying is a whole new topic on its own which I'll publish very soon.

"I'll Buy When Prices Stop Dropping": First of all, nobody has a crystal ball and nobody knows how much more the house prices will drop. Please admit it! Secondly, how are you going to find out that prices stopped dropping? Unless you sign up to my newsletters the only way for you to find out is when people start buying more pushing prices up again. Will it be too late? Probably. You have missed a sale, you've missed a good deal.

You Can Negotiate: Sellers are very motivated right now. People who are selling today really have to sell and move. So you can get a heck of a deal (I just saw 3,500 sq.feet home today that sold for $560,000, asking price $630,000, in Westwood Plateau, Coquitlam). And you don't have to go into a bidding war although multiple offers still happen on very well-priced homes.

Take advantage of this amazing times and remember that successful people are those who buy when it's low and sell when it's high. Tri-Cities, Pitt Meadows and Maple Ridge Real Estate markets are no different and offer lots of opportunities for buyers today. Good luck in making your real estate decisions and if you need help with any of those call an Outstanding Agent for Outstanding Results at 778.991.3293.