Buyers Market has arrived!

Prices are down, inventory is up, now may be a great time to buy.

Current projections from the Bank of Canada, and many Economists alike, are suggesting that interest rates are going to remain low heading into the Fall season, which could level out the really high market prices we’ve been seeing for a while.  Our regions exceptionally high prices have dropped since the peak.

“This isn’t to say rush into hasty purchases, say’s Matt Henry of Remax Select Realty, but rather be aware that you can take more time to really look and evaluate your options. There will be lots of inventory to go through coming up in the next few months and prices will be a lot more attainable for people wanting to make a move or get into the market.  Be aware to not step out of your means either.  Just because you can get a low interest rate you still need to be mindful of keeping within your budget as to not put yourself in a pressure position should the interest rates fluctuate in the next few years.”

But, as it stands now, it seems the buyers will have an advantage on price, rates and availability so if you have been waiting on the right time to get into the market, now just might be it.

Is it time to consider a joint purchase?

In the ever-changing ebb and flow of Vancouver Real Estate, a new trend is starting to emerge that serves as both an excellent investment option as well as an entry point into the market. Welcome to the table, the Joint Purchase option.

“From an Investment standpoint, it makes total sense”, says Matt Henry, Vancouver Remax Realtor. “You get a small group of like minded people who are essentially treating this as an addition to their existing portfolio mix. As far as longevity before seeing returns, this is relatively short as groups can see profit in 2-3 years”.

“But”, he says “this is also a great play for entry into the marketplace. Which a lot of young, successful Vancouverites are still struggling to break into, despite having great careers and even some capital saved up. You could essentially use the profits from the sales in this kind of joint purchase situation and add that to your savings. From there, many first time buyers are now in a position to put a down payment on their dream home.”

The process seems fairly simple, so long as you have someone like Matt Henry onboard. He comes ready to vet each person in the group to ensure a cohesive endeavor. He will mediate for the group in times of personality conflicts or emotions on the buy/sell part of things. He has the leads on homes suited for this venture, lawyers, developers, stagers and anyone else needed to ensure a smooth transition from purchase to sell to profit.

So whether it be a sound investment deal to step up your Portfolio, or an opportunity for you and some friends to all get into the Vancouver Real Estate Market, perhaps a Joint Purchase might be right for you.

For further information on Joint Purchase please contact the Matt Henry Team at Remax Realty Vancouver*

Tips for settling into a new neighbourhood

Moving to a new neighbourhood can sometimes leave us feeling a bit like a fish out of water. Fortunately the Matt Henry Team has compiled our top 3 tips that can help ease you into your new space!  Whether your Vancouver Realtor has helped you into a condo on Main Street, a Laneway in East Vancouver, a Coachhome in the Fraser Valley, a townhouse in Mount Pleasant or a home in the Cambie area, these helpful hints can get you settled in and feeling at home in no time!

1)     Be a tourist (on foot) in your new neighbourhood!

The “on foot” is the key part of this step as walking is where we really get that birds eye view of our surroundings and we can literally stop and go as we please, with no hassle of finding parking! Take notes as you go to create a list of funky shops and new eating spots you and your family can try out.  Once a week choose a new place from your list to explore and before you know it familiarity will quickly bring comfort.

2)     Throw a party!

Inviting your friends and family to come celebrate with you in your new space is a great way to begin forming new memories that will last a lifetime! Cherish these firsts’ as they will add to the joy you feel in your new home.  It is proven that the places in which we experience moments of happiness are places we want to return to time and time again.  Beginning with a celebration is a sure way of laying a foundation of vibrant energy in your new space. Who doesn’t want to go home to that!

3)     Ask, ask, ask!

Talk to the locals in your new area.  Ask them their favourite cafés, watering holes, best produce markets, fish shops, florists.  Then go see those places for yourself.  We are creatures of comfort and the more we familiarize ourselves with our surroundings the quicker they begin to feel authentically like our own.  Plus, with all that conversing you might just make a new friend or two!

As we specialize in Main Street Real Estate in East Vancouver our team is always happy to share our favourite spots and tips. If you’ve recently moved, re-located, or are looking into a new home in this area please feel free to reach out to The Matt Henry Team at Remax for some great local knowledge!

The upside of having a Realtor who lives where you’re looking to buy.

Perhaps when it comes to choosing a Realtor we should consider one who actually lives in the area(s) of interest we are considering.  This often over looked benefit could provide heaps of valuable insight during your information gathering phase that you do during your search of where to live and where to buy.

A Realtor who lives in your area of interest could offer invaluable information to your house hunting process, as they will have personally vetted the neighbourhoods in question.  They will know the creature comforts like good restaurants, parks, cafes, places to shop, what schools are in the area, and so much more.  It is something worth considering when choosing the person (or team) who will help guide you in one of life’s biggest and most exciting choices.

Matt Henry, a Vancouver Remax Realtor, specializes in Vancouver’s Main Street homes for sale and he also happens to live in the area.  He feels the added benefit he can offer people looking to move to the area is essential during their hunt as he went through the process personally so he firsthand understands the questions his clients have about the area, and he can provide honest answers from his own experience.  “People appreciate a personalized experience, and what more personal than sharing how I came to be in my home I love, right in the area that they too are looking to buy,” he says. 

So in that regard, Vancouverites looking to move to Vancouver’s Main Street area can take comfort in having Matt on their side, as he truly is organic to the area and also happens to know his stuff when it comes to Real Estate!

-Matt Henry Team