Vancouver Weekly Real Estate Update
By D'Arcy Harris
(The Harris Group - Real Estate Advisors)
The market is expected to increase 6% in 2007, down from an 18% increase this year. Yes, the market is slowing down, but it's sort of like a Ferrari taking a corner, it HAD to slow down. Real estate prices are NOT going down in Vancouver. They are simply going up slower than the last (record) year. An $18,000 return on a $300,000 purchase is still a very good return on your investment. Especially if you buy with 5% down! The market will go up and down, and regardless of whether you own or not you'll always need a roof over your head. Buying real estate was tough this last little while, but now it's MUCH easier than in the past 4 years. The number of listings are up and prices are being reduced across the board (most were over priced to begin with...) and buyers can now take thei...