Sell Vancouver Real Estate

I had the opportunity to spend a few days in Vancouver, BC at the end of April. While the single family market did not seem to be overbuilt, the multi-family market appears to be. Noticeably absent from the market were sellers. When everyone is trying to buy, that is the time to sell.

Vancouver is host to the Winter Olympics and everyone seems to think that they can make a killing renting out apartments, condos and even whole homes during the games. An asking price of $200 to $250 Canadian dollars per person per night seems to be fairly typical. Visitors staying longer may get down to $1000 per week (per person). All the entrepreneurs in town are trying to get their property into top shape.

The important thing to realize is that these expectations are already built into the market. The housing bubble in Vancouver hasn't burst yet. But it will. Canadians should not think that they will escape the collapse that has affected such diverse cities as London, Miami, Hong Kong, Shanghai and Los Angeles. Anyone with investment property in Vancouver should sell now. The time will never be better.

And don't roll your money into more real estate. Spend it, enjoy it, give it to the poor. If you don't know what to do with it, you could always give some to me. :) Many who don't sell this year will find it impossible to sell next year and may find themselves losing everything to foreclosure. Learn a lesson from the contrarians, sell when everyone else is buying, buy when there is panic in the streets.