Greater Vancouver Condo Update: March 2022
03/08/22 • 9 min
As single-family houses and townhomes continue to increase in price, homebuyers are looking at condos as a more affordable way to enter the real estate market.
Denny and Monica discuss the increase in interest and the rise in price for condos as more people seek out convenience and amenities in their community.
This episode will cover how changing interest rates will influence the market, the growing prevalence of individuals moving closer to the city for work, the significance of rental increases allowing for cash flow positive investment properties, and the ability of homeowners to pull equity from the home because of increasing property value.
Podcast Videos can be found on the Garbutt + Dumas Real Estate Team YouTube channel
Email us at [email protected]
Monica Harmse Instagram: https://www.instagram.com/monica_harmse Facebook: https://www.facebook.com/MoodyProperties.ca Website: https://moodyproperties.ca
Denny Dumas Instagram: https://www.instagram.com/denny.dumas Facebook: https://www.facebook.com/denny.dumas.5 Website: https://www.dennydumas.com
Garbutt + Dumas Real Estate Instagram: https://www.instagram.com/garbuttdumas Facebook: https://www.facebook.com/GarbuttDumas Website: http://www.garbuttdumas.ca
As single-family houses and townhomes continue to increase in price, homebuyers are looking at condos as a more affordable way to enter the real estate market.
Denny and Monica discuss the increase in interest and the rise in price for condos as more people seek out convenience and amenities in their community.
This episode will cover how changing interest rates will influence the market, the growing prevalence of individuals moving closer to the city for work, the significance of rental increases allowing for cash flow positive investment properties, and the ability of homeowners to pull equity from the home because of increasing property value.
Podcast Videos can be found on the Garbutt + Dumas Real Estate Team YouTube channel
Email us at [email protected]
Monica Harmse Instagram: https://www.instagram.com/monica_harmse Facebook: https://www.facebook.com/MoodyProperties.ca Website: https://moodyproperties.ca
Denny Dumas Instagram: https://www.instagram.com/denny.dumas Facebook: https://www.facebook.com/denny.dumas.5 Website: https://www.dennydumas.com
Garbutt + Dumas Real Estate Instagram: https://www.instagram.com/garbuttdumas Facebook: https://www.facebook.com/GarbuttDumas Website: http://www.garbuttdumas.ca
Previous Episode
Cooling Off Period versus Pre-Offer Period: Which is Better for Buyers?
In November the province proposed new legislation that would allow buyers to rescind their offer on a home with little to no consequences. Many experts in the real estate field questioned if these new regulations would actually benefit homebuyers in this current hot market.
Denny and Monica break down what the "Cooling-off period" is and introduce an alternative idea called the "Pre-offer period", which would require that properties be listed for five days before sellers review offers.
This episode will cover the recommendations that the BC Real Estate Association made on how the "Cooling-off period" can be improved, the effect that these announcements had on the real estate market, the importance of these regulations actually benefitting homebuyers, the ongoing issue of housing supply, and the significance of doing your due diligence as a buyer.
Podcast Videos can be found on the Garbutt + Dumas Real Estate Team YouTube channel
Email us at [email protected]
Monica Harmse Instagram: https://www.instagram.com/monica_harmse Facebook: https://www.facebook.com/MoodyProperties.ca Website: https://moodyproperties.ca
Denny Dumas Instagram: https://www.instagram.com/denny.dumas Facebook: https://www.facebook.com/denny.dumas.5 Website: https://www.dennydumas.com
Next Episode
Using Your Home Equity to Reinvest in Real Estate
As property value continues to increase in the greater Vancouver area, many people wonder what opportunities are available to them when it comes to reinvesting in real estate.
Denny and Monica provide options for homeowners planning to refinance their current mortgage and access their home's equity to reinvest in further real estate.
This episode will cover the differences between investing in presale versus resale, deposit structure plans for prebuilt homes, the importance of understanding the developer’s assignment terms, how much you can borrow from the appraised value of your home, and knowing which type of investment plan works best for your current situation.
Podcast Videos can be found on the Garbutt + Dumas Real Estate Team YouTube channel
Email us at [email protected]
Monica Harmse Instagram: https://www.instagram.com/monica_harmse Facebook: https://www.facebook.com/MoodyProperties.ca Website: https://moodyproperties.ca
Denny Dumas Instagram: https://www.instagram.com/denny.dumas Facebook: https://www.facebook.com/denny.dumas.5 Website: https://www.dennydumas.com
Garbutt + Dumas Real Estate Instagram: https://www.instagram.com/garbuttdumas Facebook: https://www.facebook.com/GarbuttDumas Website: http://www.garbuttdumas.ca
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