truth, funny, the older people get the more similar the story becomes that the best thing they did was buy into a market. My bet is my kids will say the same thing in 40 years when they hit their 50's
Me too 35 years ago.. Still own the unit today. Up another 15% in according to my latest BC Assessment. Long been paid off and most of that monthly rent my tenant sends me goes into my pocket for me to invest in other areas like more RE. This is when life will start to get really sweet for you guys. Just stay the course and hold.. you will be handsomely rewarded
My Father who was a Realtor for over 40 years use to tell me he has never met a person who bought a home and held it for 25+ years ever complain or regret the purchase. He has met 100's who regret not buying or selling too soon.
Great points. In Burnaby the average was +3% on the latest BC Assessments dated July 1, 2023. Even on condos that's +$20 - $30k. This is after the previous year which was on average +12% on the previous 2023 BC Assessments based on July 1, 2022. Even though I bought our second home at the height in early 2022, I'm still up. Long term prices are up for sure based on the increase cost of construction, immigration, shortage of Trades, interest rates about to decrease, etc.
Same.. all my properties have been on a nice run the past 3-4 years. Only exception was one of my Mt Pleasant units that dropped 2% this year. Stay tuned for a video on 2024 BC Assessment values
I will be doing my annual video on BC assessment values soon. I just received all mine in the mail. All my homes went up 2% to 15% except for my Mt Pleasant/ Olympic village unit went down 2%
hey owen looking a hopefully buying a starter detached home in east Vancouver 1.6 between 41st down between main street to kerr street) in that radius will most likely be a bungalow no rush to buy there not much on the market. what thoughts when best to buy this year are
Jason knows how i work.. Best time would be now or soon ( This winter) or Spring. As you point out the biggest problem is very for sale. Over the past 6 weeks i have already noticed an uptick of buyer activity. I think even more buyers are going to be getting back into the market over the next few months. Will inventory keep pace? I have 3 or 4 homes i'm listing in the next 45 days and i would expect to see more listings start to hit MLS this Spring however i have a feeling buyers will probably outnumber good quality homes for sale and prices will start to rise once more. Stay tuned for a video on this soon and what i'm seeing so far from the front lines.
Excellent as always! Thanks so much!
My pleasure!
Thanks Owen! Best $12,000 I ever spent was the down payment for our first condo.
truth, funny, the older people get the more similar the story becomes that the best thing they did was buy into a market. My bet is my kids will say the same thing in 40 years when they hit their 50's
Me too 35 years ago.. Still own the unit today. Up another 15% in according to my latest BC Assessment. Long been paid off and most of that monthly rent my tenant sends me goes into my pocket for me to invest in other areas like more RE. This is when life will start to get really sweet for you guys. Just stay the course and hold.. you will be handsomely rewarded
My Father who was a Realtor for over 40 years use to tell me he has never met a person who bought a home and held it for 25+ years ever complain or regret the purchase. He has met 100's who regret not buying or selling too soon.
Great points. In Burnaby the average was +3% on the latest BC Assessments dated July 1, 2023. Even on condos that's +$20 - $30k. This is after the previous year which was on average +12% on the previous 2023 BC Assessments based on July 1, 2022. Even though I bought our second home at the height in early 2022, I'm still up. Long term prices are up for sure based on the increase cost of construction, immigration, shortage of Trades, interest rates about to decrease, etc.
Same.. all my properties have been on a nice run the past 3-4 years. Only exception was one of my Mt Pleasant units that dropped 2% this year. Stay tuned for a video on 2024 BC Assessment values
I just received my BC assessment.
My VE Mount Pleasant condo is down 4%.
I will be doing my annual video on BC assessment values soon. I just received all mine in the mail. All my homes went up 2% to 15% except for my Mt Pleasant/ Olympic village unit went down 2%
hey owen looking a hopefully buying a starter detached home in east Vancouver 1.6 between 41st down between main street to kerr street) in that radius will most likely be a bungalow no rush to buy there not much on the market. what thoughts when best to buy this year are
Owen would say time in the market not timing the market. If you have the down payment pull the trigger. It’s a balanced market right now.
we may sell my mom's home at east 50th & Fraser area... about $1.75 to $1.8 Vancouver special
@@cdnsilverdaddy Need a realtor? 😂 Lmk!
Jason knows how i work.. Best time would be now or soon ( This winter) or Spring. As you point out the biggest problem is very for sale. Over the past 6 weeks i have already noticed an uptick of buyer activity. I think even more buyers are going to be getting back into the market over the next few months. Will inventory keep pace? I have 3 or 4 homes i'm listing in the next 45 days and i would expect to see more listings start to hit MLS this Spring however i have a feeling buyers will probably outnumber good quality homes for sale and prices will start to rise once more. Stay tuned for a video on this soon and what i'm seeing so far from the front lines.