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

Blog by Ian Watt

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Sorry But You Missed the Bottom of the Condo Market in Downtown Vancouver

Vancouver Condo Real Estate Video Blog #329 - June 1, 2009

Sorry But You Missed the Bottom of the Condo Market in Downtown Vancouver

Ian Watt video blogs about how the studio and 1 bedroom market in Downtown Vancouver has hit the bottom and if you were waiting for the bottom, you are too late - it was 2 months ago. 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. It is June 2009 and I'm sorry to tell you this but if you're waiting for the bottom of the market for Downton Vancouver's studio and 1 bedrooms, you missed it. We've already hit it. So it is now stabilized. Could be going up a little bit but the inventory is really not there for anything around $300,000. So if you are looking for that, you should have bought 2 or 3, 4 months ago. Right now is not a bad time to buy because the mortgage rates but unfortunately around a $300,000 mark we don't have any inventory for good properties. My name is Ian Watt. If you want to discuss the present market or studios and 1 bedroom you can always email me at ianwatt@ianwatt.ca. Thank you very much and have great day!