Listing sold as much as 320k over asking in Vancouver Main subarea
In the past year, the market has been changing so much that it’s even tough for us to keep up the pace had I not been active in the market as well as hosting my weekly real estate show http://www.tinamak.com/MarketUpdate.php . As you have heard the bidding wars are back in the past couple of months. I have been on it on a regular basis in the past couple months. Win some lose some. Doesn’t need a rocket scientist to figure out how to lose but for sure we need strategy to win. For those who are reading this email and won the bidding war with me in the past couple of months, u know what I’m talking about & I thank you for your trust in me.
Well, these listings links below are going to blow your mind away!!! I was doing research for my weekly radio real estate show. Look at what I’ve found in the hottest spot in town right now – Main and Mount Pleasant areas. Between July and now, there have been 48 sales. In August, I broadcasted the 1st crazy sale on the radio show, sold $285k over asking. Well, you are going to see this over the top sale at the bottom of the 1st link. Hold your breath now, ok, here u go, it sold 320k over asking. Yes, insane eh! Well, see it yourself. Chat with the listing agent, there was only 5 offers however, the winning bid is not much higher than the 2nd highest bid. She said it’s the Westside young profession buyer who can’t afford Westside, not crazy about the Westside upscale atmosphere and yet, wants to be close to downtown, but don’t want to go to Commercial Drive area cuz it has too many “earthy” people and still on the fringe as becoming a Westside Kitsilano.
22 listings sold over asking price, anywhere between a few thousands to the highest 320k. 5 sales sold at asking price. 21 sales at lower than asking with some sold very close to asking
Are you still believe our housing prices will go down soon, like after the Olympic? Do u still think it is impossible to have more room for appreciation? Ok, think twice. An article written by CAmeron Muir, BC real estate economist, said in the next 2 decades, BC expects approximately 1.27million new immigrants, both internationally & within Canada. The article explain to you why our market rebound so much stronger than other part of the country. If you wish to obtain that article, pls contact me tinamak@tinamak.com or 604-412-5860.
After seeing all the crazy sales, I honestly want to interview those buyers for my radio show to understand what they were thinking during the bidding war. Well, obviously it’s a must buy situation but how did they come up with all these over the top $$$.
Had a few hours educational conversation with one of my clients. The conclusion was the past few decades, economic power house lied in the East coast such as New York, Boston, Chicago so Toronto obviously benefit from that. Well, isn’t it obvious the power has now been gradually or already been shifted to the Eastern part of the world – China, India, Middle East, Russia, etc. As you read from the attachment, international immigrants have hit a new record high in BC. So, in the next couple decades, in my opinion, West Coast will outpace East Coast in many ways. Vancouver being the top 3 places to live in the world for many years sure will definitely benefit from it. In my opinion, Olympic will definitely show case the beauty & vibrancy of Vancouver and help Vancouver to reach the next level especially in this slowly but definitely economic recovering time. Should you wish to read the most recent report on Canada economy, click http://www.tinamak.com/EconomicsAnalysis.ubr
My conclusion: Buy real estate sooner rather than later!! Canada is a safe haven for International immigrants. I strongly believe our real estate market will continuously stay strong in the long run. Try not to sell your real estate if you can unless you have to. Keep real estate!!! I know you might think I’m saying this because I’m a realtor and I want your business so I can make my commission. Think again, did I just say “don’t sell real estate?” For those who have been with me for more than 5 years and buy investments “together” with me, you know I’m an investor as well. I manage all my properties and deal with all the tenants. I walk the talk! However, buying real estate is always Location! Location! Location! This is where my expertise is coming handy to u especially if you are a first time buyer. With the potential of 1.27million immigrants coming to us, would you invest in stock or real estate? You want a real Freedom 55, make your choice!
Thank you for reading my Blog! If you wish to discuss your real estate plan, wonder if this is the right time for you to do something, pls feel free to contact me at 604-412-5860 or email me at tinamak@tinamak.com Market has been busy but I’ll never be too busy for your referrals!
