Interest in Vancouver Market by Non-Resident Investors
It is interesting that in this time of Global Economic Crisis that we are still seeing so much interest by non-resident investors. I am getting inquires on a daily basis from investors from the US, Europe, Mexico and investors from  other provinces.  Do they know something that locals don’t?
Read the recent sales stats which will explain the facts; see the recent posts. Our most recent releases by the Greater Vancouver Real Estate Board show that this is the best time in years to purchase property in the Vancouver area. The number of actual sales are down and so are price points- way down.  Sellers are motivated because their is so much on the market at this time, they have no choice but to reduce their price, and if it priced right it will sell.
Check out these numbers: In November their have only been 30 sales in the Downtown, Coal Harbour and False Creek North areas in the under $400,000 range, compared with November 2007 there were 75 sales. Currently there are 261 Active listings.
There is so much great product on the market right now and buyers can literally pick and choose what they are looking for. A change from the last few years when multiple offer situations drove prices up to the point where buyers were going in with subject free offers just in order to get an accepted offer.
No one has a crystal ball to predict the future. But common sense should tell you  that there are some amazing properties with amazing price points on the market at this time.
Do the math. Don’t let the non-residents get all the good deals!
Well the tables have finally turned and it is the buyers now who are in control.
