Deneka Michaud, North Shore News, July 9, 2008
After years of favourable conditions for home sellers, the North Shore real estate market appears to be giving buyers the upper hand, according to a new report issued by the Real Estate Board of Greater Vancouver.
Multiple Listing Service figures released by the board last week show that sales for both North and West Vancouver in June were down from the same time last year,
Penticton Western News, July 5, 2008
Reports this week have finally started calling it a buyers market, as the trend indicates B.C. is entering a cooling off period.
But while the sales numbers are down, the total sales values are still increasing for some regions, according to Landcor Data Corporation.
The Okanagan is one of three regions in B.C. — Greater Vancouver and the Kootenays are the other two areas — that experienced this total sales value increase in the first quarter of the year compared to the first quarter of 2007 despite the drop in the number of properties being sold.
Kerry Gold, The Globe & Mail, June 27, 2008
Vancouver homeowners shouldn’t worry about the value of their homes falling this year, according to a new report.
The city might have seen the biggest drop in sales of detached homes in the last five years, but house prices are going up, says Rudy Nielsen, owner of Landcor Data Corp., a Vancouver-based real estate analysis company. Mr. Nielsen has 40 years of experience as an analyst,
Andrew Duffy, Victoria Times-Colonist, June 27, 2008
The boom has busted.
The number of real estate sales is down, the total value of sales is down and the real estate industry is suggesting the signs are pointing to the housing boom in Victoria being over.
“We are definitely seeing a shift in the marketplace, although it’s certainly not a time for panic,” said Victoria Real Estate Board president Tony Joe.
Over the past 45 years I have built a number of small lakes and they are much easier to build then you would imagine. But why build your own lake in the first place? Why not just buy a parcel of land on an already existing lake? I found that in all my years in the recreational real estate business one of the most frequently asked questions about a parcel of land is “has the property got any water frontage on a lake or river?”
Alex Frasier-Harrison, Calgary Herald, June 15, 2008
Albertans continue to be the top non-resident buyers of real estate in British Columbia, outstripping the US and other provinces.
And despite the economic slowdown, this doesn’t seem likely to end any time soon, says the head of a company that tracks these statistics.
“We’ve had no indication of any slowdown of Albertans buying in BC,” says Rudy Nielsen,
Frank O’Brien, Western Investor, June 2008
Legendary recreational land investor, Rudy Nielsen, president of NIHO Land & Cattle Company of New Westminster, who has owned more raw land than most small countries, has published a handy guide, “The secrets of investing in recreation land.” We are publishing Nielsen’s top tips as part of our annual recreational property investment sections.
In this second and final report, we focus on Nielsen’s advice on finding a property,
John Mackie , Vancouver Sun – May 23, 2008
People have been cashing out of the Lower Mainland and seeking the good life on Vancouver Island, the Okanagan or the Sunshine Coast for decades. The trend has only increased in the last few years as the baby boomers flex their financial muscle.
“Certainly the recreation market has been led by the baby boomers entering or nearing their retirement years,”
I have been buying recreational land for over 45 years. Through the years I have developed my own 20 Step System on how to buy recreational land. The following is a short version of my system.
STEP 1 – GUTS AND MOTIVATION
I have talked to many people who have told me about a property they had looked at, but postponed buying it. While they were thinking about it,
Gillian Shaw , Vancouver Sun – May 23, 2008
Want a good deal on a marina? Now could be the time, with the “for sale” list stretching from the southern Gulf Islands to fishing resorts up the coast.
But don’t expect fire-sale prices, despite skyrocketing fuel costs, a strong Canadian dollar, and a weakened economy across the border all contributing to declining tourist visits to Canada.
Marinas have a lock on oceanfront,