February 2009

What you can do in a slow market. Is it time for a change? Time to get a larger home? How can you do it if homes aren’t selling ? Here is what you can do. You can accept that the market has changed and set the new goals for what you want. If you are looking to upgrade to a larger home than now is the best time for you to make the move.  You can sell your current home and purchase the new home for even less than you could have before. Let me explain further.. . If the market has dropped 10% and your home was worth $200,000 prior to the market decrease you would have an asset with a value of $180,000. Let’s say your dream home was worth $300,000 prior to the market drop and now you could purchase it for  $270,000 That would mean that you can purchase that new dream home for $10,000 less than you could have before the market change and your mortgage total is $30,000 less that will save you an extra $27,000 over the duration of the mortgage. That means you can buy a new home and save $47,000 today!

For more information call Jason Ayles at Century 21 250-512-1511

 - You have to live somewhere and if you purchase your own home and pay your mortgage one day you might only be paying property taxes every year. That will be exponentially lower than paying rent for the rest of your life.

- Real estate over the last 100 years has increased in value through thick and thin. It has had it's up's and down's just like anything else, however as a long term investment real estate consistent and safe.

- Hindsight is 20 20, imagine if your family had purchase 5 rental properties 25 years ago and just paid of all 5 mortgages. You would have 5 income producing properties that you only pay property tax and maintenance on every year. Conversely you would have nearly a million dollars in equity that could be leveraged for the purchase of more real estate. That is assuming that $5000/month from the 5 rental properties just isn’t enough.

In conclusion, real estate is just another vehicle to get you to where you want to be in life. Take your time, do your research and reap the benefits

November 2008

Here is the market activity for the Greater Trail area.

There are 205 active listings from Fruitvale to Rossland

11 Single family homes sold, 41 per cent of October 2007 

246 Single family homes sold year to date 70 per cent of sales last year.

Median sale price year to date sits at $231,268 up 12 per cent over last year