Wade Allen Real Estate

Hey Everyone,

 

I am excited to let you know that a lender is currently offering a rate of 3.99 fixed for 5 years. This is special for purchases ONLY closing in the next 45 days. This low rate really helps people feel secure for their affordability moving forward.

 

Ex.

Purchase Price: $300,000

Down Payment: $30,000

Monthly Mortgage Payments: $1420

Please contact me with any questions:

604-868-3242

I am a big believer in statistics. They can help explain and predict trends. Although, it' near impossible to plot and predict consumer confidence and public perception, which is the ultimate variable in determining our market.

 

But what I can do is show you what is happening, and maybe give my opinion into the current Vancouver Real Estate Market.

 

February 2009 was a great month for Vancouver Real Estate in comparison to the past 6 months and pre-2002. Even in comparison to those 6 strong years of 2002-2008, it was decent. We saw nearly 400 sales in Vancouver West, which is over double that of the 3 previous months.

 

This increase in demand has also kept prices at even keel. In fact, if you take a 3 month adjusted average over the past year to give you monthly adjust median sale prices for Vancouver West Condos, you will see, we have been pretty even keel for the past 5 months (you may need to read that sentance again. I think I even confused myself).

 

 

Since the PEAK average price for Van West Condos in May 2008 we saw a sharp decline in prices for 5 months to October 2008. But since October of last year, the adjusted average median price has been stable at 12-13% below peak prices. This is equivalent to the price point of Fall 2006 to Spring 2007, when demand was still very high.

 

With sales (demand) picking up last month due to these lower prices, we may have just very well seen the bottom of the Vancouver Condo market. If not, then we will more than likely be nearing the end of the "smoking" deal phase.

 

Make sure you contact me today if you are looking for a deal. Their days are numbered. Let's not forget this is the nicest city in the world. We aren't talking about the Mid-West here.