I think that there are lots of Buyers out there at present. And they are all looking for Real Estate!
My open house at 2317 Graveley in East Vancouver, this past weekend was proof of that. Over two days of open houses I had 120 people through that one house! According to the Real Estate Board of Greater Vancouver the market is doing fine. In fact we have seen a slight price adjustment, however, it has leveled off not fallen off and slapped the bottom of the bowl as expected. By the time Buyers realize that now is the most perfect time to buy in our market, better then any time in the last six years, it will be too late because we will have turned around and rebounded into a Sellers market again. Remember those days? I do. Long tiring days of trying to get your Buyers into a listing with 50,000 other people then waiting in the car to present your offer with 40 other agents loitering outside the house waiting to present their offers as well, only to find out late late that night that the house sold all cash for $100,000 over the ask price.
Today's market is much more relaxed. Buyers actually get to negotiate their price. They have an option to do a building inspection and ask for money off the purchase price if they find a problem. They have time to fall in love with their house before they make an offer. It is a perfect time to be a buyer!
The fact still remains that this is Vancouver! People like to live here. People from all over the world will continue to be drawn to this place, with its vibrant joie de vivre, cultural events, melting pot diversity and ever increasing list of good quality restaurants, and let's face it; the jewel in Vancouver's crown, the climate! What other city in Canada can you walk on the beach in a sweater and then 25 minutes later be skiing on a mountain with a view? I don't think I am the odd one out when I say that I relish the knowledge that I am not wearing a parka in the middle of January like the rest of Canada! Of course there is 2010 Olympics as well, but we don't need to mention that.
So for those of you who have been sitting on the fence for awhile and wondering if you should buy....jump off!
You might be pleasantly surprised for what your dream house is selling for.