Market adjustment is not all Bad

In British Columbia these days the market has softened up as it has all over north america.  It is now time for speculators to rest and sit on their chosen properties.  The present time is a very bad time to choose to sell just to get out, waiting is the answer (Buy low sell high) not the other way around.  If you are having financial difficulties it is better to find another way out, selling your home without moving up will cost far more at this time than face value.  If you are compelled to sell your home, try to at least buy in again in the same market at a lower price point, thus minimizing the long term overall loss.

There is a silver lining in that people who otherwise would be kept out of the Real Estate market have now become eligible to purchase their first home.  In a while when confidence starts to build we will see just this taking place.  In addition buyers selling to move up and buy better properties will sell their homes for less but on the other end save even more!  The interest rates are as low as I have ever seen and the prices are once again affordable these are not likely to be the earmarks of a long term recession.

• Be careful
• Choose your property wisely
• Do not overpay
• Do not wait until the market begins to rise to make your move
• Do not overextend as you may need to hold for a while

If you follow the above guidelines it may be the best time ever for you to invest in Real Estate!

Have a Great Year!

Don Mann

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