Why do YOU think Vancouver's real estate prices are high? by Geraldine Santiago

Beautiful British Columbia, Beautiful Vancouver: Vancouver is a beautiful city with its location close to the water. The ocean, however, means there is limited inventory, and therefore no land to build on. Because there is limited inventory, there is a premium on land.

Land is a precious commodity. It cannot be replaced and it cannot be manufactured. When valuing a property, recognizing that inventory is crucial. Supply and demand. In any market whether you are buying hammers or nails, real estate is no different. Look at the supply and number of inventory that are in your search criteria to determine whether or not you need to value the property higher and aggressively bid for the property. If you think that 'another property like it' will come along, think again!!! Believe me, it's easier to say that and it is far from reality.  Each property is unique and there won't be another one just like it.  

Real estate 101 tells us that each property is unique and whenever the word 'unique' is used, you know it's going to cost more.  

For more info on buying, attend our home buying seminar. Our expert team members offer free home buying and selling seminars. Go on line for the latest events at www.vancouverfirsttimehomebuyer.ca or TEXT me at (604) 764-6873.

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