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Hey Readers! I’ve been comin across some crazy stuff the past few days from a few different blogs around the web which I just had to share with you. Check em out below…

Homes for Sale in Crescent Beach, Surrey, British Columbia $5888888

10667.00 sq. ft. Homes for sale in Crescent Beach Surrey, British Columbia. For sale at $5888888.0000 CAD. 2683 Crescent Drive, Crescent Beach MLS F2922014.

Homes for Sale in Rosebury Lane, Surrey, British Columbia $385000

2200.00 sq. ft. Homes for sale in Rosebury Lane Surrey, British Columbia. For sale at $385000.0000 CAD. 6465 184A Street, Rosebury Lane.

3789 MAXWELL ST, Victoria VE, Vancouver, V5N3Y6 – Real Estate …

Commercial Drive | Real Estate Listings | House for Sale | 3789 MAXWELL ST, Victoria VE, Vancouver, V5N3Y6 – $589000 – Commercial Drive Real Estate.

Hope you enjoy the read as much as I did and please if you have something to say, use the comments form below to let everyone know your thoughts.

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The Vancouver Real Estate market has remained strong despite the meltdown of our neighbours to the south. Thanks to a more closely guarded banking system, Canada has been able to slide through the mess relatively unscathed. The question is: now that the Olympics games are over for Vancouver, will the much anticipated financial hangover begin?

With the current strength in the Vancouver Real Estate market matched with historically low mortgage rates to go with it, one would say “how could we possibly be headed for a meltdown”? Current inventory is low which is again sending Real Estate transactions into multiple offer situations with buyers paying $10,000, $20,000 and in some cases even $200,000 over list price. Although the latter is for a specific product in a couple of choice neighbourhoods it still has happened. The potential for a bubble is definitely there but not on a broad scale. It looks more like the micro-markets of Vancouver Real Estate that are getting too far ahead of themselves are at the most risk for a bubble.

The Vancouver condo and townhouse market has seen growth over the past year at a pace that has all the right conditions to stay sustainable. 1st-time buyers are generally the demographic in this category and are taking advantage of the low mortgage rates. With the recent changes imposed by the Canadian Government on mortgage lending, we should have a little more of a cushion against an overall bubble. The changes included that anyone seeking a mortgage with less than 20% down payment (CMHC insured) would have to meet the requirements of a 5 year fixed rate mortgage regardless of the term they were seeking. Another safeguard was to lower the amount of equity one could withdraw from their home for refinancing purposes from 95% to 90% of the appraised value. In the case of a market retraction this would give a little more cushion for those who are spending close to what their home is worth.

The $700,000+ debt left on the shoulders of the Vancouver taxpayers for the construction of the Olympic Village will hopefully be recouped over the next decade. According to recent reports, one local developer was able to cash in on $31.8 million in high end units from people visiting for the 2 week Olympic period. The village will house approximately 1100 units of mixed income households in a sustainable community of shopping, services and parks.

Although there are some challenges ahead the future still looks very bright and promising for the Vancouver Real Estate market. Some lessons have been learned that in hindsight should help the City and Country avoid the same mess the U.S. got themselves into. There will be, although, pockets of bubbles where ignorance is driving people into frenzied buying and driving prices to unsustainable levels. On a broad scale the city’s real estate market will see slow growth through the remainder of 2010 with a moderate increase going into 2011.

Terry Voth is a Vancouver Realtor who specializes in the sales of Vancouver Condos, Townhomes and Houses.

Article Source:

http://EzineArticles.com/?expert=Terry_Voth

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I hope you’ve been enjoying my posts lately. I thought I might do something different today and rustle up a few bits of info from around the WWW. These are some of the news items and blog posts that have been popular over the last few weeks. Leave me your thoughts.

# 347 2033 TRIUMPH ST, Hastings, Vancouver, V5L4X3 – Real Estate …

Commercial Drive | Real Estate Listings | House for Sale | # 347 2033 TRIUMPH ST, Hastings, Vancouver, V5L4X3 – $235000 – Commercial Drive Real Estate.

New Vancouver Condos for Sale & Presale Lower Mainland Real Estate …

Recent Posts. The GVHBA Spring 2010 Open House Showcase of New Homes for Sale (May 13th – 16th) – Brought to you by the Greater Vancouver Home Builders' Association – 22 Communities & 50 Display Homes from 16 Local Developers! …

BC Real Estate » Vancouver Homes for sale from $189900

Vancouver Homes for sale from $189900. 5520 Joyce St. Vancouver Properties. -One bedroom apartments starting from $189900 -Convenient Vancouver location near shopping, skytrain, School. …

Hope you enjoy the read as much as I did and please if you have something to say, use the comments form below to let everyone know your thoughts.

Have a great day!

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