Victoria BC Real Estate Market Update For May 2010

By
Real Estate Sales Representative with eXp Realty, Victoria BC www.pfanntastic.com

Victoria BC Real Estate Market Update For May 2010.

Some of you read my earlier posts about the Victoria real estate market update.

Some agree, some don't here in the fairness of balanced reporting, here is a link to the full and complete report as published by our VREB Victoria Real Estate board.

From it one could conclude a few things,

  • All is well
  • All is okay with a few areas of concerns
  • There are some signs of concerns
  • This is the beginning of a slide

Personally I am not much of a doom and gloom person, reality seems to be somewhere between black and white and takes on some shade of gray.

But here are some suggestions if you are contemplating to buy sell, invest, finance or re-finance, move in to the area or move out of the area over the next 1 to 5 years.

  • Start planning NOW.
  • Become very aware of property trends of the property you are planning to buy and or sell.
  • Read Everything you can get your hands on about local trends, and direction of the economy, construction, employment, real estate etc. etc.
  • Consider all your options (sell now, rent and buy later, just sell and rent, buy now, buy later etc. etc. etc.
  • If you need to finance or re-finance understand the new rules as they affect your ability secure financing (they may have a serious impact on your decisions)
  • If you are downsizing, (Big House to Condo or townhouse) selling now, rent for a while and possibly buy when the dust settles may be a perfect strategy for your situation).
  • First timers, just wait and save as much money as you can.You are in Pfanntaastic Hands with Peter and Linda on your Side
  • Moving out of this market, sell now, and rent back for some time until your move
  • Moving in to the area, sell where you are, and rent locally, there are many reasons to do so, not just money and market conditions.
  • Moving to a similar property type in the same market area, proceed with caution, but you should be okay to sell now with the longest possible completion period and shop the adjusting market until you find the right fit.
  • Moving up in the same property type (small condo to say bigger condo) use the same approach as moving side ways.
  • Moving Down in the same property type (big house to small house) sell sooner, and rent for a while, then buy or use the long completion or rent back approach to avoid double moves.
  • Don't let yourself be swayed by panic talkers or some quick fix solution offered by guaranteed buy/sell offers and the like.
  • Surround yourself with experts and specialists in the areas of your specific concerns and lifestyle (lawyers that invest in real estate, accountants investing in real estate, contractors that invest in real estate, Realtors that invest in real estate (that would be us off course).
  • Meet and or chat with your "Specialist" team on a regular base, and find out how your plans and direction fit with the market reality and future trends.
  • Be prepared, (get your finances in order, minimize any and all delays, preventing you to make the right decisions at the right time)
  • Get you House in order, fix and repairs things, minimize your "stuff"

We (Peter and Linda Pfann) have many tools, reports, information as well as a trailer to move stuff, actual home renovation tools, a group of like minded people, free staging and downsizing reports, you name it we have spend the last 26 years getting ready to help our clients, good market or bad. So be sure to call upon a trusted member of you specialist team to guide you to the challenging waters surrounding us.we guide you in the best direction

Posted by

 

 

 

Peter Pfann,

CPCA, ABR, SRES, E-Pro, IMSD, Master ASA, C-CREC, Associate Broker.

Text or Talk To Peter @: (1) 250 - 213 - 9490  

peterpfann@gmail.com  www.pfanntastic.com

Pfanntastic Properties in Victoria, BC, Canada, @ Fair  Realty Since 1986.

Regional office: 1540 Fort St Victoria, BC V8S 5J2

 

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Rainmaker
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Brian Madigan
RE/MAX West Realty Inc., Brokerage (Toronto) - Toronto, ON
LL.B., Broker

Peter and Linda,

You have the good fortune of serving one of the best cities in all of Canada. Thanks for the update.

Brian

Jun 01, 2010 04:22 PM #1
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Peter Pfann @ eXp Realty Pfanntastic Properties in Victoria, Since 1986.
eXp Realty, Victoria BC www.pfanntastic.com - Victoria, BC
Talk To or Text Peter 250-213-9490

Hi Brian,

Thank you very much for your comments,  yes you are correct it is hard to complain about living here, the cost of doing so means going anywhere else is not as interesting (unles we leave North America)

Jun 02, 2010 03:01 AM #2
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justic sumith

Hey Brain!

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May 10, 2012 09:36 PM #3
Anonymous
justic sumith

Hey Brain!

Professional services help protect your investments and save you a great deal of time on your move. By taking advantage of their services you can feel confident that you are making the best decisions for your move

May 10, 2012 09:37 PM #4
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