Real estate blog entries tagged with richnmond chinese realtor by Team 3000 Vancouver Richmond

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Home : Blogs : Team 3000 Vancouver Richmond : Richmond BC Real Estates : Tag "richnmond chinese realtor"

richnmond chinese realtor: Greater Vancouver housing market outlook for 2010 - 12/24/09 08:24 PM

Can Greater Vancouver housing market go higher?

Market sustained by low interest rates
Longer amortization and low interest rates have a huge impact on home prices. With the introduction of mortgages with 35-year (from 25 years) amortization, home buyers are able to afford homes 16% higher in value. Coupled with interest rates drop from 5% range to around 3.55% for 3-year fixed rate now, home owners can afford homes 40% higher in values as compared to 10 years ago.
The above price chart for detached homes at $910,000 range shows a huge price gap between current average house value and … (0 comments)

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