Stock Market vs Bricks & Mortar
The stock market volatility is being well covered in the news. Local and National pundits are all espousing their opinions profusely. Mainly what I am hearing is that Vancouver's real estate fundamentals are strong.
What I want to add is that when we experienced these dramatic swings, and potential bear markets, is that hordes of investors moved their funds into "bricks & mortar". Meaning Real Estate that they could see and touch. With the lowering of interest rates, buyers will be able to buy more hence driving up prices to new heights.
This past few days I have seen many properties sell on their first viewings, and have participated in multiple biddding wars of up to 10 offers for one Kitsilano condo. And that was before the interest rate cuts.
Buyers, remember to keep your Pre-Approvals current and updated. Keep your mortgage broker close, and be ready when the right place comes along for you.
Sellers, get organized for an active market. The near future looks promising.
Call me direct at 604-313-8732 for all of your real estate needs. -Blair