This is a common question wether it is a good time to buy now or should you wait.
With prices of homes rising due to the lack of inventory, low interest rate, and scores of buyers competing to win over a prime property, it can be daunting to enter the gateway of Real Estate purchase now.
To understand and to correctly respond to the question of buying now or wait, lets review what property are you looking for?
If you're searching and located a property in a great location, providing that it shows over 80% of your desired checklist, buy now. You most likely have to pay a premium price to get it, but it make sence to purchase it now than later.
Based on the Real Estate market stats and trends, and looking at many charts, despite of the time to time drop and correction of bubble pricing, Real Estate prices adjust itself within todays expenses, trades, and economy. Therefore within a proper investment time frame or term, it gains its value back and exceeds to profit.
What is the proper investment time frame? a good description of the Real Estate long-term is 10 years.
If you found a Single family detached house for sale in Victoria in a prime location, or located a large square footage Condo Strata for sale on higher levels, corner unit, or first level with large outdoor patio, which is not easy to find, buy NOW despite of paying a premium price. This also implies to Condo strata or Townhouse for sale with no staircases to attract senior investors and retirees in the future value.
However, if you have found a cookie-cutter property in a location where you can find many similar propeties sitting in the market, then you might want to delay your purchase or search for the ONE.
Victoria's Real Estate market is changing, so should Victoria's Realtors and Real Estate agents. If you're looking for a young, well-educated professional realtor with creative eye, then look no further.
I know how to maneuver in the Seller's market and provide value for my buyers clients. It requires experience, skills and top negotiating skills to win over the multiple offers. Let's make an offer they can't refuse and gain the prime listing you were dreaming about.
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