Article shared from The Province. 


The B.C. Real Estate Association has a released a report that questions widespread concerns about foreign buyers in the Metro Vancouver real estate market, vacant units and even the high cost of housing in the region. 

 

In the report titled Market Implications of Foreigh Buyers, the BCREA says that data and analysis from a number of sources suggests that foreign investment is insufficient to impact a region as large as Metro Vancouver, except for a small segment of luxury homes. 

 

The report, released Wednesday [June 10, 2015] says foreign ownership accounts for considerably less than five per cent of the Metro market. The report also states that proportion of vacant homes in the region does not vary significantly from that in other large urban centres, as measured by 2011 federal cenuss data. 

 

BCREA also questions the use of average home prices as accurate yardstick for the market, nothing 70 per cent of homes sold in Metro in 2014 went for below the average of $738,000. 

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I recently reconnected with a client that I had dealt with in the past,  I helped with buying and selling their homes. We first met several years ago, they had a for sale by owner sign on their lawn. I thought the sign to mean that they were inviting me in, so I knocked on the door to say hello. We got to know each other, they liked me and I liked them.

 

They agreed I was trustworthy, hardworking and a nice guy and so agreed that I  look after the sale of their home and to help find them a new home.

 

We signed an agreement to list their home for sale .I started my marketing plan immediately to find a buyer and get the property sold.

 

It didn’t take long…there was a sold sticker on my sign on their front lawn, they were very happy. I looked after all the details and paperwork and the sellers were happily packing and moving off  to the new home I had found for them. We became good friends.

 

A number of years later, sadly, one of my friends passed away. The house was sold. BUT the Realtor that listed the home was not me. The trusted friend! I was upset and disappointed. I thought I had done something wrong! But there was nothing that could have been done to reverse the awful mistake. I moved on.

 

A number of years later I received a call. It was that same trusted friend. I was so happy to hear from my friend, how are you my dear?

 

She volunteered…” I have to apologize” she said.

 

“Why”, I asked

 

“I was led astray when I sold the house you worked so hard to find for us. My niece had just obtained her Real Estate licence, I felt obligated to hire her to sell the home for me. But it was all a mistake. I should have called you! It was such a long time selling the house, in the end I don’t think I got a fair price. Then,she talked me into buying this home I am in and I don’t like it. Please get me out of here, I trust you. I know you can help.”

 

I said ”Thank you for your trust in me, lets get to work.”

 

Bruce & The Hardworking Nice Team is Never Too Busy for You. I hope you enjoyed my story. I will be featuring more in the upcoming months so check back often! 

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Bruce Fournier: Chilliwack Realtor
Office: (604) 819-0120
Toll Free: (800) 830-7175
Bruce's Cell: (604) 819-0120
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Bruce Fournier & Associates are RE/MAX realtors located in beautiful Chilliwack, BC. We serve all parts of Chilliwack and the surrounding areas including Agassiz, Promontory, Sardis, Greendale, Cultus Lake, Harrison Hot Springs, Rosedale, Yarrow and Ryder Lake.