Vancouver still safe to enter the condo pre-sale market

Real estate developers in Vancouver say it's still safe to enter the condo pre-sale market. Developers at the B.C. Real Estate Convention in downtown Vancouver say problems like those encountered by The Sophia's developer are rare.

The Sophia is in receivership now, but other developers like Cindy Park with Polygon Homes, say it's an isolated incident. "Polygon's been building homes for the last 27 years. We're very good at guess-timating and also being aware of construction costs and other issues that come up when you're developing and selling pre-sale."

Can you afford a $500,000 home in Vancouver?

Regardless if you are a developer, a policy maker, an agent, a seller or a first or seasoned home buyer, you will benefit from one of the many different facets of the BC Real Estate Convention. And who knows, you may walk away with a new home or investment. Admission is free, free seminars: open to the public. We are expecting and international crowd.

The BC Real Estate Convention is hosted by the Buyou Realty Network, a referral network group formed of professional realtors. You are in the market now.

Vancouver lsand Housing Starts Drop in January

This past January saw fewer houses being built then the same month last year. This is in contrast to the national scene where new home construction is up more than 20%. Is it starting to cool off? Or is it taking a breather? Over the past few years we have seen a boom in new housing starts in Victoria BC. One has to expect that the trend can’t continue for ever.

In January there were 317 new homes under construction compared to 348 in January 2007 the Canadian Housing and Mortgage Corp said on Friday.

GE Real Estate Takes Lead in $50 Million Refinancing to Vancouver Film Studios

 "GE Real Estate is proud to be a financial partner with Vancouver Film
Studios," commented Alexandre Sieber, Vice President & General Manager of GE
Real Estate's Business Property division. "We were able to quickly execute
this transaction despite its complexity, and Vancouver Film Studios is
well-positioned to capitalize on growing market demand." Added Sieber,
"This investment supports our strategy to further strengthen GE's
presence throughout the rapidly growing region of British Columbia and Western Canada."

Vancouver’s real estate board counts approximately 9,700 members

Brian Naphtali, president of the Real Estate Board of Greater Vancouver agrees. In 2003, a Vancouver real-estate agent was tied up and robbed while showing a property.

“When that incident occurred, we did take action,” Naphtali said. “Through our Realty Watch program we did create a checklist for precautions realtors can take.”

Vancouver listed properties for sale

Adamache added that sales in the Real Estate Board of Greater Vancouver's region, which takes in most of Metro Vancouver except for Surrey and includes Squamish, Whistler, Pemberton and some of the Sunshine Coast, are still strong.

She said that over recent months, homes on average sold for 98 per cent of their asking price, "which is still strong sellers story."

Americans still buy B.C. real estate

“American buyers are still coming here,” Nielsen told the Georgia Straight. “There’s still a great demand for Washington guys to drive up to B.C. and get some great skiing, some fishing, and even some of our golf. So they’re still buying recreational land.”

The veteran realtor, who has been in the property market for more than 40 years, also said that the sales volume being generated by his company doesn’t indicate a slowdown in terms of American purchases of recreational properties.