“I would have never dreamed my house would be worth this much. The prices cannot keep going up. ” This quote was taken from the Vancouver Province in 1954 when a North Vancouver resident sold his house for $13,600. Today, the median price for a Vancouver home is $627,994. Makes you think a bit doesn’t it? Over the long term, will housing prices just keep going up forever? They certainly didn’t in the United States. However, the United States created their own reality by the way they handled their lending and credit.
When we look at the major real estate markets across Canada, Vancouver, Calgary, Edmonton, Winnipeg, Toronto, they are all showing signs of recovery from the recession. Vancouver is especially strong with many sellers receiving multiple offers on their homes. In all the major centers across our country, inventory is stable, their absorption is strong, sales activity has bounced back and prices are remaining steady or rising. This is the first time in history that Canada has not followed our big brothers in the south. Canada was conservative in lending compared to the US. This has led to Canada now being ranked #1 for business in the world by the Financial Post. Our financial and Real estate future looks bright across our great country and now is a fabulous time to buy a home. Prices have softened over the past few years, however, that is a trend that will not continue over the long haul.
Happy Halloween – Pumpkin Quick Facts
• Pumpkins were once recommended for removing freckles and curing snake bites.
• The largest pumpkin ever grown weighed 1,140 pounds.
• Pumpkins are 90 percent water.
• The Irish brought the tradition of pumpkin carving to North America