The price of my house went up 100k year over year (based on diff between my purchase price and the bank's appraised value), so market hasn't slowed down (yet).

 

Look at cottage prices on one of the bigger lakes anywhere in Muskoka - for a "w/end" place .... ouch!! With a poor stock market people may keep moving their money into real estate.

 

hmmm... well i am just starting out in the RE business as a realtor...BUT...from everything i have seen and heard... my best guess in the lower mainland is max of 8% loss for high end homes ($1mill plus). i highly doubt that our market will be corrected any time soon, definitely not before the olympics.

the market has slowed some what...with the huge bidding wars of last summer not really materializing as much. you can get most properties at asking price or better.

real estate will always be the way to go... land is always worth $$$$ and there is only so much to go around!

the big ticket now from what i have learned is agriculteral land for its latent potential...but i dont think this is anything new...just new to me...and its seems to be a really good buy in washington, oregon states. with rumors of a 30% return!!

but my guess is as good as the rest....

 

Silver 6r: Best of luck in your new career!

 

thanks.... kinda scary switching over like that... but i am giving myself a 3month transistion period with my current job...

 

silver_6r>
From what profession did you switch to become a RE agent? What's your outlook on the Cdn mkt? Vcr still the hottest?

 

engineering!!

to be honest... i am just starting to take all the info in with respect to current markets... i have only been looking at my local market for the moment.

but i do believe that there are other parts of Canada that are good places, Calgary is one of them. if major cities are not your thing, kelowna is a great place in the BC interior,a short 2 hour drive from Vancouver... lots of development, major expansion, and lots of vinyards... kind of like the Napa of the north!!

sorry i cant be of more help.. but i wouldnt want to give out false info!

 

I can't see the market dropping here. I wish it would but I can't see it happening. I see TO continueing the trend and will slowly catch up to NY city's out rages prices.
Honestly don't know how a 2 salaried family makeing 55k a year can ever buy a house in todays market. I guess thats why we now have a 40 year mortgage option.

 

in Vancouver they say the "average" family will need to make ~$150k to afford a detached home!!

crazy!

 

The prices here are just insane. I was watching the news and they said the average price of a house in the Lower Mainland is $921,000! Which regular families can afford that?!?!

Here's an article on that: http://www.canada.com/theprovince/st...055351&k=82249

 

Whew, you must be one seriously fast driver!

 

1000cc motorcycle helps... the 996 doesnt do it badly either!!

but realistically ..ok 3 hours? is that better

 

With oil @ $100+, it's difficult to imagine prices softening too much here in Alberta.

 

you Alberta people thrive off of the oil dont you!!! dont complain!!

 

Who's complaining!