WHEN IS THE RIGHT TIME TO BUY?
With all of the conflicting news stories, statistics and commentary about the local real estate market, it is tough to know when to buy. Below are three scenarios that point to it being the right time to buy.
The single family home market for resale homes is offering a good opportunity to buyers who are willing to take action now. If you can find a single family home with a motivated seller, the right time to buy is staring you in the face as prices have already moved down on single family homes, you are no longer in competition and best of all you can have a full subject offer allowing you to have a proper inspection.
If you have been waiting to upgrade from a townhome or condo to a single family home there has never been a better time especially if you need to sell your existing property to qualify for the new one. Sellers who have a single family home to sell and it has been sitting on the market for a while are more likely to accept a subject to sale offer – something that has been absent from the market for years. The best part is that your townhome or condo is likely to sell quickly as inventory in those market segments are moving well – so the buy low and sell high theory works in this scenario.
If you are thinking of building a house – now is the time to pick up a land value home in Greater Vancouver area. Builders have not been as active in the single family home market in the last few months and the news shows that home starts are down as well.
If you fit into one of the categories above let’s set up a planning session where we can evaluate numbers, present options and answer all of your questions.