Perfect storm for first-time home buyers in Lower Mainland

Published: February 22, 2013

MAYUR ARORA
VANCOUVER DESI

Real estate

A perfect storm of factors has created a home buyer’s market in Vancouver. Gerry Kahrmann/PNG files

It takes a variety of factors to be in sync for a spectacular storm to commence. Then it takes a confluence of factors to stay in position to achieve a perfect storm. Such has been the case in the Lower Mainland’s Real Estate market.

The market has seen all-time lows and an elongated period of time where the interest rates have been at record lows. You can get a five-year fixed rate mortgage at 2.99 per cent. This is a great rate for any home buyer.

Finally, it appears that the sellers are getting tired of waiting for the market to go up and are now ready to reduce the prices. I have noticed deals with fairly significant price reductions going through. Of course it all depends on the seller’s situation.

Now, is also a good time to buy because there seems to be a fair number of listings in the market that are fresh with decent pricing. It definitely is a good time to buy because of all the factors stated.

Now for some stats: In January 2013 3,400 homes sold, which was down 14 per cent from January of 2012. Comparatively the median home price is only down 2.7 per cent from last year.

So if you are in the market to buy a home and especially if you are a first time buyer, there may never be a better time to make your move.

Mayur Arora is ranked Number 2 Realtor® (Sales) in Greater Vancouver in 2011. You can contact him at info@oneflatfee.ca or visit www.oneflatfee.ca

 


Tags: , , ,





Featured

babe SEXY BOLLYWOOD desi

B.C.’s Miss India Canada pageant contestant sues ex-boyfriend to pay for tuition for failed class after breakup

KAMLOOPS THIS WEEK KAMLOOPS — A 22-year-old B.C. woman is suing her ex-boyfriend to pay tuition for a class she says she failed due to distress…
Continue Reading »

Longtime Surrey politician and former mayor Bob Bose is pictured here near his south Surrey home on Monday, November 21, 2011. Jenelle Schneider/PNG

Former Surrey mayor Bob Bose backs Barinder Rasode, says no Surrey Matters slate coming

AMY REID SURREY NOW SURREY — Though Coun. Barinder Rasode has yet to officially announce her intentions to run for the city’s top job, she’s…
Continue Reading »

A Pakistani-Canadian blogger has released Pakistan's first-ever anti-homophobia children's book. Submitted photo/Nicemangos.blogspot.ca.

Toronto-based blogger releases Pakistan’s first anti-homophobia children’s book

VANCOUVER DESI A Toronto-based Pakistani blogger has written and released Pakistan’s first-ever anti-homophobia children’s book. Blogger Eiynah, known for her site Nice Mangos where she…
Continue Reading »

LOCAL NEWS

babe SEXY BOLLYWOOD desi

B.C.’s Miss India Canada pageant contestant sues ex-boyfriend to pay for tuition for failed class after breakup

KAMLOOPS THIS WEEK KAMLOOPS — A 22-year-old B.C. woman is suing her ex-boyfriend to pay tuition for a class she says she failed due to distress…
Continue Reading »

Longtime Surrey politician and former mayor Bob Bose is pictured here near his south Surrey home on Monday, November 21, 2011. Jenelle Schneider/PNG

Former Surrey mayor Bob Bose backs Barinder Rasode, says no Surrey Matters slate coming

AMY REID SURREY NOW SURREY — Though Coun. Barinder Rasode has yet to officially announce her intentions to run for the city’s top job, she’s…
Continue Reading »

A Pakistani-Canadian blogger has released Pakistan's first-ever anti-homophobia children's book. Submitted photo/Nicemangos.blogspot.ca.

Toronto-based blogger releases Pakistan’s first anti-homophobia children’s book

VANCOUVER DESI A Toronto-based Pakistani blogger has written and released Pakistan’s first-ever anti-homophobia children’s book. Blogger Eiynah, known for her site Nice Mangos where she…
Continue Reading »

Don't Miss...

jail sex

B.C. Supreme Court to decide if Kamloops Mountie watching women have sex in jail is a crime

THE CANADIAN PRESS KAMLOOPS, B.C. — A judge wants to hear arguments from lawyers about the legality of the charge against an RCMP corporal accused…
Continue Reading »

Rice Bucket India poverty

India’s Rice Bucket Challenge gives a ‘meaningful twist’ to ALS ice bucket challenge

VANCOUVER DESI India has created its own “desi” version of the ALS ice bucket challenge that has swept the globe. While the original icy cold…
Continue Reading »

India

Man proudly wears world’s largest turban weighing in at 100 pounds and 645 metres long unwrapped

VANCOUVER DESI A 60-year-old devout Sikh in northern India appears to be the proud owner of the world’s largest turban – weighing in at 100…
Continue Reading »

Elephant headed god

Gallery: India prepares to welcome elephant-headed Lord Ganesha

VANCOUVER DESI Preparations for Ganesh Chaturthi, a festival marking the birth of the elephant-headed god, have taken off in India as Hindus prepare to welcome…
Continue Reading »

Witches Burned Victim Alive In Front Of Family

Witches burn Indian dad alive in a bizarre ritual in front of his wife and 10-year-old son

CEN AGENCY Witches who burned a man alive after chopping off his arms in a bizarre ritual have been seized by police in central India….
Continue Reading »


Bollywood Latest

Newly-elected Bharatiya Janata Party (BJP) Member of Parliament and Indian Bollywood actor Paresh Rawal arrives in Parliament in New Delhi on May 20, 2014. India's Narendra Modi is expected to formally declare his intention to form the next government May 20, days after his Hindu nationalist party won the first parliamentary majority in three decades. PRAKASH SINGH/AFP/Getty Images

No one else can play the role: Paresh Rawal on Modi biopic

IANS Mumbai  – Versatile actor Paresh Rawal, who will soon start shooting for a biopic on Prime Minister Narendra Modi, says he is the right…
Continue Reading »

hot photos desi actress bollywood sex

Gallery: Deepika Padukone photo shoot

VANCOUVER DESI Bollywood beauty Deepika Padukone, who is creating a lot of buzz with her upcoming film Finding Fanny, poses for the camera. Related Stories:…
Continue Reading »

Bollywood desi boobs sex

Bollywood’s bold babe Sherlyn Chopra strips for Playboy

VANCOUVER DESI Bollywood actress Sherlyn Chopra marks the first-ever Indian model to pose for Playboy magazine, according to eonline.com. While the 30-year-old announced she’d be…
Continue Reading »