The recent surge of new Buyers & Sellers in the Real Estate market has surfaced for a few reasons. The Olympics was an amazing experience for everyone and since they have come and gone people are focusing more on real estate and real life than celebrating and beer drinking! The warm weather really showcased the city and all the great visitors could not help to fall in love with our beautiful city and people! 

And with the new mortgage requirements for April 18, 2010, first-time home buyers & sellers (who have sold their homes and are looking for a property upgrade) have most likely locked into a lower pre-approved interest rate to hedge against the new pre-approval regulation at the 5 year posted (fixed) rate. What this means is that these buyers qualify for a higher mortgage but they must purchase it within a 3 month time period.

The new regulations for investors will require a 20% down payment. This may have an affect for some investors however; many of the investors that enabled the quick market recovery from 2008 are those from China. I have a vast client base from China as I speak Cantonese and Mandarin fluently and these investors will continue investing in the Vancouver Real Estate market. 

As a result, many new properties being listed on the market as Buyers are large in numbers and Sellers are realizing an opportunity to cash out and/or upgrade their property with the right timing.  

Properties that are priced at fair market value are sold quickly (some have multiple offers) but overpriced properties are not as quick to sell. I just sold a home in the West End on Friday that received 3 offers after the 1^st showing and it sold over asking that night! 

If you are thinking of making a move, contact me…timing is critical. As one of Vancouver's top 1% of Realtors, I would love to share my ideas with you to help you reap the benefits in this current market. Feel free to contact me with any questions and any Real Estate needs.

Anthea