Vancouver Condo Info | VCI Forum

Lower Mainland housing and economic issues.

1. 

   Greenhorn
   Member

   Whether you are a buyer or seller determines if you are sweating bullets or relaxing while you check out the vast selection.

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   Posted 1 year ago #
2. 

   Daddy Fat Stax
   Member

   The fact that she thought she could sell her "cookie cutter" style downtown apartment within a week, shows how "green" she is. After financing, re-sale should be the second thing on your list as a potential home owner. ie. What will make the unit appealing to the next person? (staging can only do so much)

   Posted 1 year ago #
3. 

   patriotz
   Member

   After financing, re-sale should be the second thing on your list as a potential home owner.

   
   Disagree on both points, The first and foremost consideration for buying RE is does the purchase price make sense. Interest rates and the RE market change over time, but the price you have paid (and have to pay back) does not. Resale should not be a consideration at purchase time. You can't control the price you sell for - only the price you pay.

   And also - there may be a "vast selection" today at ridiculous prices, but none at all a reasonable price. Anyone can still sell easily at a greatly inflated price. That's what I call a sellers' market, not a buyers' market.

   Posted 1 year ago #
4. 

   jesse
   Member

   Anyone can still sell easily at a greatly inflated price. That's what I call a sellers' market, not a buyers' market.

   
   It will boggle most people's minds how far prices need to fall before a true "buyer's market" can be called.

   Posted 1 year ago #
5. 

   Daddy Fat Stax
   Member

   What I meant by financing was, "is the purchase price fair (low $ per square foot)", "do you make enough money to cover the mortgage + expenses (strata/insurance/misc)", "do you have enough money to put 20% down", etc, etc.

   I agree, that you need to make sure that you are getting good value for your money.

   Posted 1 year ago #

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