Wednesday, February 18, 2009
Vancouver Homebuyers reap the rewards of Patience
It's a buyer's market right now and first-time homebuyers who resisted the urge to take the plunge and purchase a condo in the Vancouver real estate market when it was hot are now finding that good things come to those who wait.
Softening prices, a larger number of condos and homes to choose from and extremely low interest rates are helping to make home buying more affordable and less stressful for those deciding to purchase their first home in Vancouver.
Many buyers had been watching the market but held back in purchasing because of the soaring prices and lack of affordability.
Now that prices have dropped 15-20%, homes and condos in the Vancouver real estate market are now selling at 2006 prices.
In Kitsilano, you can now purchase a one bedroom condo for between $280,000 to $320,000. These same condo's were selling in the mid to high $300,00 range last year. Downtown Vancouver condos are selling in the low $300,000 mark where the same condo a year ago was selling for approximately $400,000. This has allowed many people who were renting to get in the market.
For more information on house and condo prices in Vancouver contact:
Peter Raab
Vancouver Real Estate Expert
Specializing in buying and selling homes and condo's in Kitsilano, Downtown Vancouver, Mount Pleasant, Fairview Heights and the rest of Vancouver Westside
Labels: first time home buyers, Kitsilano real estate, real estate vancouver, Vancouver market update, Vancouver Real Estate, Vancouver Real estate market update
Wednesday, February 11, 2009
Interest Rates Hit Historic Low
The Bank of Canada has slashed its key interest rate to the lowest level in history; to 1 per cent. The decrease was in line with expectations of economists, who have been calling for action on the pats of the central bank and the federal government.
Shortly after the central bank cut its rate, the big banks, let by The Bank of Montreal and TD Canada Trust also cut their prime lending rates by the same amount to 3 per cent.
The should go a long way in increasing the affordability for purchasing Real Estate in Vancouver.
Peter Raab
Vancouver Real Estate Expert
Vancouver Real Estate Agent
Labels: downtown Vancouver real estate, Interest rates, Vancouver Real Estate, vancouver real estate agent, vancouver real estate expert
$750 Tax Break for First Time Home Buyers
The new federal budget offered a number of initiatives to benefit homebuyers and homeowners.
The budget announced a new First Time Home Buyers Tax Creit of up to $750 to help homebuyers with closing costs such as legal fees and property transfer taxes. The government is also granting a new Home Renovation Tax Credit of up to $1,350 for homeowners who renovate and a new funding program for ecoENERGY retrofits that provides home and properties up to $5,000 for energy improvements.
The federal budget also announced an increase to the Home Buyers' Plan withdrawal limit to $25,000 from $20,000. Eligible couples can now withdrawl up to $50,000.
These measures tabled in the budget will go a long way to addressing local economic uncertainties, consumer confidence and the quality of life in the
Vancouver Real Estate Market.
For more information on tax incentives for purchasing Real Estate in Vancouver contact:
Peter Raab
Vancouver Real Estate Agent
Specializing in buying and selling real estate in downtown Vancouver, Kitsilano and the rest of Vancouver's Westside
Labels: Federal Budget, first time home buyers, Vancouver Real Estate, vancouver real estate agent
Saturday, February 07, 2009
Vancouver Real Estate Market Update
After a very quite past three months in the Vancouver real estate market which saw prices continue to drop and overall activity very low, we are finally seeing things pick up. With interest rates at an all time low, world markets settling and a greater affordability in the Vancouver housing market, people are now snapping up the deals out there.
For Buyers who have been patiently waiting for the right time to get in the market, now is the time. Lock in your interest rate and look for the deals before they're all gone; we're expecting a typical busy spring market with lots of buying and selling.
For Sellers, the same philosophy is true in that you must make your home stand out from the rest. It has to show better, be priced more aggresively and marketed better than the competition. With the abundance of product to choose from, buyers have the luxury to choose from lots of homes for sale.
I am very optimistic about this spring and summer not only in the real estate market in Vancouver but in our economy as a whole; we live in the greatest City in the world which vast resources, the Olympic Games coming up and a diverse work force.
Peter Raab
Vancouver Real Estate Agent
Labels: Real Estate update Vancouver, vancouver housing update, Vancouver Real Estate, Vancouver Real estate market update
Friday, February 06, 2009
Open House at Harbour Green Two
I will be hosting an open house at Harbour Green Two on Sunday February 8th from 2:00-4:00
903 1139 West Cordova Street
Coal Harbour
2 Bedrooms with 3 bathrooms
Two levels with soaring 17 foot ceilings in the living room
2410 square feet
This world class building by ASPEC has only the finest quality finishings including a gourmet kitchen by Snaidero of Italy, Miele & Sub Zero appliances. This unique 2 level corner unit feels like a home with a magnificent staircase leading up to the second floor and towering 17 ft ceilings in the living & dining rooms. Enjoy views of the North Shore Mountains, the water and city from 4 separate balconies and through the floor to ceiling windows. Stunning bathrooms and your own private, underground 2 car garage with storage. 24 hour concierge, indoor pool, health club, golf room and library.
Peter Raab
Vancouver Real Estate Agent
Labels: 2 Harbour Green, Coal Harbour condo's, harbour green two, Two Harbour Green, vancouver real estate agent
