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With the new real estate regulations in full effect, it’s no secret that the housing market in Vancouver has been the hit the hardest. Bringing this hot market back to a more realistic growth trajectory may mean that investing in Vancouver isn’t going to guarantee the overnight windfall that it did, but it is still an amazing opportunity for anyone looking to invest in property. In fact, it may be the BEST TIME EVER if you are looking to enter the market in Vancouver! There are some amazing opportunities to buy at the best prices we have seen in years.

Whether you have been thinking of moving to one of the most beautiful cities in the world, or you have been waiting for the right time to invest in a condo in Vancouver, now is the time!

With sales up around the Lower Mainland by nearly 50% over last year, real estate in BC might have seemed like the best industry to be in – until the new regulations. However, the truth is that there’s a difference between buying or selling a house in Vancouver quickly and buying or selling a house properly, and the new regulations might be exactly what this hot market needed to protect buyers and sellers from the unrealistic bubble in Vancouver.

The Dangers of Buying Too Fast in a Hot Market

In the mad rush to buy up property before the next guy, many were foregoing home inspections, and outbidding each other on homes that may not be structurally sound or even ethically sold. So as much as you may feel pressure to buy quickly, you shouldn’t skip the steps that will have you living or owning in a home that is actually a good investment, instead of a piece of property that could potentially decline in value if the market changes, or cost you a fortune in renovations before you can sell or live in your home comfortably.

The Reality of Selling Above Market Value

Stories were circulating about houses selling in Vancouver for FAR over their market value and/or asking price, and this has given a lot of individuals the unrealistic expectation that they too could acquire large sums of money if they price their homes wildly above normal asking price.

This mentality was pricing people out of the market and having them missing out on real opportunities to sell while they try to join in on a select few properties that have sold lavishly high. It was also creating an atmosphere that depended on this false value continuing – meaning that if there was a correction in the market, many would lose huge sums of money. A housing crash that resembled our neighbours to the south was always a fear.

The Importance of a Successful Transaction When Buying or Selling a Home

Buying or selling a house should take time, effort, investigation and the right realtor to ensure you take these necessary steps to purchase the RIGHT home for you, and not just the “right now” home.

In addition, selling your home in a manner that has your buyer feeling confident in their decision for a fair market price, with all inspections having taken place – is not only ethical, but required.

Winning at the real estate “game” is about more that just buying or selling a piece of property at any cost. It is about finding the right home for you that you will love for years to come in order to make it a true worthwhile investment.

Fall in love with your home and forego the buying pressures of a frenzied market. The right realtor can help you acquire a home that is right for your budget and lifestyle, and the same realtor can also sell your house with the desire to see both the buyers and the sellers making a transaction that meets all the criteria necessary for a home sale in Vancouver!

Being a realtor in Vancouver is both a privilege and a passion, and showing homes in one of the most beautiful cities in the world is a daily pleasure I truly enjoy. If you have any questions about the new regulations and how they are affecting housing prices in Vancouver, please reach out! I’d love to help.