{"id":1464,"date":"2016-04-04T10:10:40","date_gmt":"2016-04-04T17:10:40","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=1464"},"modified":"2016-04-04T10:09:53","modified_gmt":"2016-04-04T17:09:53","slug":"having-the-discipline-to-avoid-a-booming-market","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2016\/04\/having-the-discipline-to-avoid-a-booming-market\/","title":{"rendered":"Having the Discipline to Avoid a Booming Market"},"content":{"rendered":"<p style=\"text-align: justify;\">This market is so hot, one veteran says the real investors are choosing to sit on the side-lines.<\/p>\n<p style=\"text-align: justify;\">\u201cThe Vancouver market is just so overheated at this point that anybody that calls themselves a professional investor is sitting on the bench at this point, relaxing\u2014basically, any place for sale either in Vancouver or Victoria, if it\u2019s even remotely priced appropriately\u2014 you\u2019re looking at multiple offers sold within a day,\u201d Hans McFarlane, a Vancouver-based investor, told Canadian Real Estate Wealth. \u201cThe offers are coming in above asking price with no conditions, and that\u2019s the biggest thing: it\u2019s coming in above asking price with no conditions at all.\u201d<\/p>\n<p style=\"text-align: justify;\">The average price in Vancouver increased 25.6% year-over to $1.1 million in February of this year.<br \/>\nInvestors who have already purchased are enjoying lucrative gains. But some, according to McFarlane, are choosing to sell off those properties.<\/p>\n<p style=\"text-align: justify;\">\u201cIn fact I know a few really seasoned investors who actually diversify, divesting their portfolio,\u201d McFarlane said. \u201cThey\u2019re selling off their stuff because sometimes they just kind of sell \u2026 they\u2019re taking their profit and running.\u201d<\/p>\n<p style=\"text-align: justify;\">Vancouver\u2019s red-hot housing market is well document, but it\u2019s impacting housing markets outside the city centre as well.<\/p>\n<p style=\"text-align: justify;\">The average price in British Columbia increased 21.9% year-over-year in February to $779,419. That is $276,362 higher than the national average.<\/p>\n<p style=\"text-align: justify;\">\u201cNanaimo saw a sale on Wednesday, which was its highest sale ever at $2.4 million or so; the realtors are obviously pretty excited about that. That\u2019s one of the market\u2019s I\u2019m heavily invested in,\u201d McFarlane said. With the property purchase tax and the commissions, there\u2019s no way you\u2019re going to make any money (as an investor).\u201d<\/p>\n<p><a href=\"http:\/\/www.canadianrealestatemagazine.ca\/news\/having-the-discipline-to-avoid-a-booming-market-205270.aspx\" target=\"_blank\">Having the Discipline to Avoid a Booming Market<\/a> by Justin da Rosa | Canadian Real Estate Wealth<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This market is so hot, one veteran says the real investors are choosing to sit on the side-lines. \u201cThe Vancouver market is just so overheated at this point that anybody &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2016\/04\/having-the-discipline-to-avoid-a-booming-market\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-1464","post","type-post","status-publish","format-standard","hentry","category-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Having the Discipline to Avoid a Booming Market &#8226; 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