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Ian Watt Personal Real Estate Corporation - Sotheby's International Realty Canada

Blog by Ian Watt

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There are Only 5 Condo Foreclosures on the MLS in Downtown Vancouver

Vancouver Condo Real Estate Video Blog #286 - April 7, 2009

There are Only 5 Condo Foreclosures on the MLS in Downtown Vancouver

Ian Watt video blogs about the fact there are only five condo foreclosures on the MLS in downtown Vancouver and there are over 200 foreclosures in the suburbs. If you want to voice your opinion or if you don't care for Ian's comments please email your feedback to ianwatt@ianwatt.ca and visit http://www.ianwatt.ca/RealEstateVideos for all the Ian Watt Real Estate Video Blogs.

Ian Watt : Hi good afternoon! It's Ian Watt in Downtown Vancouver. We've been talking about foreclosures a lot recently. Well you know what? It's really interesting and I really want to explain that buying in Downtown Vancouver is different from any other place and if we look at the foreclosures although they're escalating everywhere on the province not to the extreme in the United State but they are going up. But the thing is in Downtown Vancouver on the MLS there are 5 foreclosures or 5 court-ordered sales right now on the MLS. In the out skirts of all the suburbs of Downtown Vancouver including the west side and the east side and Surrey and all that stuff. There are over 200 foreclosures in the surrounding areas of Downtown Vancouver. Now that just brings up a really interesting point because foreclosures do happen but not to the extent where people expect them in Downtown Vancouver. Because our rental, our rentals situation in Downtown Vancouver is so strong that we very difficult to go bankcrupt when you could always rent it out. So keep that in mind when your buying a rental property keep in mind that Vancouver is probably the least affected of all the different areas you can possibly purchase. You might pay a little more but you get a little more on rent but there are definitely fewer foreclosures in Downtown Vancouver. My name is Ian Watt. You can always email me at ianwatt@ianwatt.ca. Thank you very much and have a great day!