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

Blog by Ian Watt

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I'm going to buy my Vancouver Condo when the Real Estate Market Bottoms Out

Vancouver Condo Real Estate Video Blog #281 - March 31, 2009

I'm going to buy my Vancouver Condo when the Real Estate Market Bottoms Out

Ian Watt video blogs about the first time buyers and investors that love to say "I'm going to buy my Vancouver Condo when the Real Estate Market Bottoms Out" and how timing the bottom of the market is impossible.  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's great time in Vancouver were seeing interest or mortgage rates really low, were seeing inventory out there arices have decreased a lot. So we're bringing in a lot of first time buyers and a lot of investors are coming back right now and then you throw in the american dollar. How strong it is compared to the canadian? And what do we have? We have a lot of people starting to look at Vancouver real estate and especially in the downtown core again. But the interesting thing is a lot of people are saying "You know what, I want to wait until it hits the bottom and then I gonna buy. Well you know what? We have names for people who always buy low and sell high, they're called liars. It never ever happens that way repeatedly. You might time right once and get lucky but it doesn't happen time and time again because the only time you know where the bottom is, is when its on its way up. And by the time we see that  you won't be able to lowball anymore because people would know they'll get their prices. Right now, we're seeing a lot of fearful people and a lot of uneducated people and a lot of desperate people trying to sell. But not everyone's that way. So you got to pick and choose and lowball everyone you can to get the price you want. So don't wait until the Vancouver sign says " Hey you know what? Prices are on the rise that was not the bottom. It was three months before. My name is Ian Watt. You can always email me at ianwatt@ianwatt.ca. Thank you very much and have a great day!