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Jacquie's Thoughts on Real Estate


Blog by Jacquie P. Wilson | October 1st, 2009


Welcome to My thoughts on Real Estate.

 As a realtor I can really see this in the price of single family homes in North Vancouver.  In February, April, and March there were lots of homes available under 700 thousand on the North Shore with basement suites.  Now there are very few.  Out of the few that remain, they are on busy roads, need major renovations or are going in a "multiple bid" and the price is being driven up and out of the consumer's reach.


 As a realtor I can really see this in the price of single family homes in North Vancouver.  In February, April, and March there were lots of homes available under 700 thousand on the North Shore with basement suites.  Now there are very few.  Out of the few that remain, they are on busy roads, need major renovations or are going in a "multiple bid" and the price is being driven up and out of the consumer's reach.

 As a realtor I can really see this in the price of single family homes in North Vancouver.  In February, April, and March there were lots of homes available under 700 thousand on the North Shore with basement suites.  Now there are very few.  Out of the few that remain, they are on busy roads, need major renovations or are going in a "multiple bid" and the price is being driven up and out of the consumer's reach.



The greatest gains are seen in the single family home, with a 171% increase in sales over September of last year.


The greatest gains are seen in the single family home, with a 171% increase in sales over September of last year.

The greatest gains are seen in the single family home, with a 171% increase in sales over September of last year.


Sales of apartment units in Vancouver increased 95% for the month of September 2009, compared to September 2008.

The question is, what is fueling the hot housing market, when the world is not doing that well economically?  It is debatable whether we are out of the recession or not.  The low mortgage rates are good for the housing market and consumer confidance is high.  Vancouver continues to be a mysterious market as again the prices are picking up.

The separation between buying and selling remains about the same now as it did earlier in the year.  For instance, if you owned an older home that needed fixing up, it is now worth more, but the newer home that you want to purchase is also worth more.  It is easy to sell but harder to buy.  This is making it difficult for people who want to make a change in they're housing situation.  With the increase of 13% you are losing a titch in the up turn of the market when you make the switch.

Bye for now, and Happy Home Hunting.

Jacquie Wilson
 


 For more information on real estate, statistics, and buying or selling a home, contact Jacquie Wilson directly at 604-908-1206