Understanding Market Trends: Fashionable vs Functional

April 13, 2012 | By

Wondering if now is a good time to buy in the greater Vancouver area?

Real estate market trends are likened to most trends – they come and go with supply and demand. Housing prices fall into such market trends and vary depending on factors such as: Location – urban vs suburban; Features – hardwood floors, surround sound system, landscaped retaining walls; Amenities – gym, pool, theatre room. So although the Housing Price Index (HPI) is often what most investors will consider for their purchasing decisions, those who are first-time home buyers should ensure their Realtor knows the real estate market outside of these trends.

Home buyers and investors alike should keep in mind that the HPI is a general overview of pricing based on a home’s features, rather than the actual value of the property. Again, this is where a knowledgeable Realtor can truly help make your purchase a well-informed investment. They have a better understanding of what’s been sold in any given area, and the potential boom taking place in that location.

Where some investors might be looking for a quick turn around on their dollar, home buyers are often looking for a long-term investment. Investors might also be looking for rental units which feature the most appealing amenities in a downtown condo, where a home buyer may want information on local schools and programs for their children. The right Realtor can provide this information.

It’s a popular choice among first-time home buyers to attend various open houses in the hopes that, whomever is hosting the showing, will have their best interest at heart. Although they might be knowledgeable and consider your needs as it applies to their current listing, their main objective is to sell the home in which the open house is intended for.

Skip the sales tactics! Make a well-informed decision and choose to attend open houses with your Realtor of choosing and not the one chosen for you.

It goes without saying that we all want the best value for our loonie, especially in an economy which is still struggling in an insecure environment. Making a sound real estate investment requires a “working-for-you” Realtor. Someone who respects your investment and potential life-long decisions on which property to invest in or call home, someone who’s desire is to meet your needs and not just to sell you they’re latest listing.

Understanding market trends requires someone who is immersed in the market. Find a Realtor who can differentiate between that which is trendy and won’t maintain its value, and that which is trend-worthy and will bring both the investor and the home buyer their deserved return. Although fashion trends might look cute on the runway, the right Realtor will advise you on which real estate trends to run away from.

 

 

Filed in: Buying and Selling Real Estate

About the Author (Author Profile)

Andrew is a West Coast enthusiast through and through. He is a native of the area that you will often find adventuring on one of the many sea to sky activities that abound in the Fraser Valley. Along with being in love with the place he calls home, Andrew is a well known and respected Realtor focusing on helping others to find their own perfect home in Langley, Surrey, White Rock and beyond! Visit www.yourperfecthomebc.ca to find your perfect home.

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