Vancouver - The RESORT CITY
The truism of skiing, golfing and boating the same day, coupled with 21st century
demographics and desires continues, and will continue to push our strong market!
Hi and I hope 2010 is treating you well! January has shown strong signs of the market
balancing with robust sales of well priced homes, many instances of multiple offers
and the return of ready, willing and able buyers. With record low interest rates, and
the fear of them rising later in 2010, near zero vacancy rates and contracted prices,
NOW is an excellent time to buy. Vancouver is expensive no doubt, but read on re
demographics and why.....
While people love to watch their equity grow, when the market is too bullish,
uncertainty and rushed/forced decision making causes jittery nerves for all involved.
The time to think and feel good about your decision making is not a luxury. This
fulfilling aspect of my job is thankfully back, for the most part, ...it is busy out there.
NOW is a great time to invest in real estate and I am CERTAIN that when you look back
in 10 years time you will wish you had added more to your portfolio.
This is the fourth market cycle I have experienced. I have literally predicted the last
three such changes before they occured. I am a (MODEST, but VERY experienced)
expert at market timing. With my economics background it is sometimes easier to
bring economic reason to the negotiating table, rather than just recent real estate
sales values which can often involve solely emotional thinking/reasoning.
This ability can save you real money!
Our market is essentially sound. We all have to live somewhere after all. You cannot
live in your mutual fund. Interest rates remain at a FORTY year low, for now. It is
believed interest rates will rise later in 2010. In the last year BC had 92,000 people
Demographers such as David Baxter strongly predict the Lower Mainland to grow
upwards of 1.5M people in the next two decades ensuring continual real demand for
BE A CONTRAIRIAN ! BUY WHEN THEY ARE SELLING, AND SELL WHEN THEY ARE
BUYING! "Buy UP in a down market, and buy DOWN in an up market"
For those that are trading in the same market, it’s all relative. Sellers may get less
than they thought for their homes, but they’ll also pay less on the other side of the
transaction. With market conditions stabilizing, first–time buyers now have the luxury
of time in making their housing decisions. They also have greater purchasing power
than they had one year ago – and their dollar will go much farther.
Unlike other investment vehicles, residential real estate serves two purposes. It’s still
considered an investment, (tax free for Canadians), but it is also a roof over your head.
We know from past experience that housing generally appreciates at a rate of five per
cent annually. It’s cyclical, so it may rise and fall, but the risk involved will never be as
steep or as serious as the stock market, where the value of your portfolio can drop 30
per cent overnight and some of your stocks can fall to 0. You also can’t live in your
Clear signs of economic recovery are here for 2010. Lifecycle events will continue to
occur, whether real estate is experiencing a bull or bear market.
Average price in 2007: $570,795
Average price in 2008: $593,767
Average price in 2009: $600,000
Change in '09: +1%
Average price in 2010: $618,000
Change in '10: +3%
Source: CREA, Local real estate boards, RE/MAX
Cameron Muir, Senior Economist with the British Columbia Real Estate Association
recently commented, "The BC economy is forecast to grow at a higher growth rate
than most other provinces. Consumer spending, employment growth and net
migration in the province are expected to remain robust and will continue to underpin
housing demand through 2010." The Canadian economy is fundamenatally sound and
is different, as such, than the United States.
The Olympics will not have a major impact on property values. Other factors influence
values. The potential market run will be 2011- 2115.
I specialize in Coal Harbour, Downtown and Yaletown, False Creek, Granville Island
and Kitsilano. I've also had years of experience with the entire lower mainland area
markets having worked most of them. I am able to help with the analytical & decision
making process every step of the way.
I have worked national corporate relocation for 21 yrs throughout the Lower Mainland
and have sold hundreds of homes for happy families from White Rock and Ladner all
the way to Lions Bay and Whistler….not just Vancouver.
I lived in Kits and the west side for over twelve years prior to my real estate career,
when I had corporate jobs downtown. I currently live in Mount Pleasant at the south
foot of the Cambie Bridge.
I know the pros and cons of the Lower Mainland well. I can offer you well considered
lifestyle, recreation, and commuter options to figure out your best lifestyle choices.
A conversation over a paper map will boil us down to a very targeted search to save
you time and work smart. I am able to share the many positive and negative
externalities of all these areas with you. Emailing VERY targeted listings will allow you
to decide a lot of things, and see REAL value before we even get in my car.
Historically Vancouver's busiest sales market has been early January to April, with a
strong secondary sales spike from Labour Day until mid October, (kids back in school)
- Great time to be a seller. July and August (kids out of school) and Oct 20th to New
Years, (rainy season, Christmas shopping/parties) the market is slow - Great time to be
The last seven bull market years have skewed this and we are now very much back in
a reasonably normal albeit busy market, with any current uncertainty to benefit YOU.
READ ON PAST THE SIGNATURE BLOCK FOR AN ENLIGHTENING ARTICLE ON OUR
Achieving value for you is what makes my job fulfilling!!!
Peter M. Colls, B.A.(Econ.) Vancouver Direct: 604.220.2269
RE/MAX Hall of Fame
Master Medallion Club - Real Estate Board of Greater Vancouver
Over $150,000,000 in past sales - Experience is key, in any/every market condition!
By THE CANADIAN PRESS, cp.org, Updated: December 3, 2009 9:29 AM
Re/Max says housing market recovery to accelerate in 2010
Residential real estate sales should recover in almost all major Canadian cities by the
End of 2009, while average prices should post new records in an improved economic
climate, according to a new housing report. (THE ASSOCIATED PRESS/Phil Coale/ file)
MISSISSAUGA, Ont. - Residential real estate sales should recover in almost all major
Canadian cities by the end of 2009, while average prices should post new records in
an improved economic climate, according to a new housing report.
The Re/Max Housing Market Outlook survey for 2010 predicts the uptick in sales will
be lead by an anticipated 45 per cent increase in Greater Vancouver, while Ottawa
and Quebec City are expected to hit historic highs in the number of homes sold.
The report also says average prices are expected to improve in 65 per cent of markets
as economic performance picks up.
Eighty-three per cent of markets are expecting sales to increase over 2009 levels
while housing values are predicted to rise in 91 per cent of Canadian centres in 2010.
The remaining markets are predicted to match 2009 levels. The average price of a
home is also expected to go up in the future. The Re/Max report examined residential
real estate trends in 23 markets.