The Million Dollar Question: Should you buy now or wait and see?

A client of mine, who is relocating to Vancouver, recently asked if she should wait a little longer to see if housing prices fall further before buying a home. Will the market hit bottom? Should she buy now or take the wait and see approach?

This is my feeling and this is what I told her:

I don't think there's any urgency at all, but I would definitely see this as an opportunity to find the perfect place that you're going to love living in for the next couple of years. The number of listings will decrease as Christmas approaches, at the same time there will also be less Buyers so the chances of getting a bit of a deal become greater if the right property comes on the market.

There's no rush to find you a place and we're happy to continue showing you properties for as long as it takes for you to feel like you're buying the right property at the right time. Seeing what's on the market with you is what keeps us up to date on pricing and values...

I think we have a pretty good idea of what you're looking for and we'll certainly make an extra effort to reach you if a great home come up... and in the meantime, we can send new listings along to keep you up-to-date but we certainly don't want you to feel like you have to see or respond to them at all.

My opinion is that there's always a reason to buy as well as not to buy... Personally, I've always felt more comfortable 'being in the market' and taking advantage of a good opportunity...

If you're buying something within a 10 miles radius of the city and you have a little piece of dirt under you, I don't think you can really go wrong.

Video Testimonial For Rick

This is a very nice testimonial that one of my clients made for me.