December 2, 2010

Did Home Ownership Just Get Easier?

Ask just about anyone whether they would like to own their own home and it's likely the answer is going to be not just yes, but absolutely! Despite the dream of home ownership, for many it is not a reality simply because of affordability or the lack thereof. It has been noted in recent trade articles that Vancouver, is perceived to be an expensive housing market as is the entire province of British Columbia.  That being said, a recent drop in prices and very low interest rates has helped put a dent in the affordability issue and has resulted in enabling home buyers to take advantage of lower pricing and lower monthly mortgage payments to achieve the dream of owning their own home.

Lower prices and a drop in interest rates make buying a home an achievable reality for many this fall.

BCREA statistics for BC home sales

The British Columbia Real Estate Association (BCREA) showed last month that BC homes were trending higher in sales as compared to October, which bodes well for the Vancouver housing market and economic recovery if prices and sales continue to climb. In a recent release BCREA Chief Economist Cameron Muir stated that "BC home sales have posted moderate gains since the summer months. Consumer demand was bolstered by double-dip in mortgage interest rates and the associated increase in purchasing power."  He went on to say that total active residential listings have declined since June but that the housing market still remains in favor of home buyers.

When you couple affordable pricing with historically low interest rates, it makes sense to buy now instead of later. At Wallmark Homes, we want to help you get into your dream home which is why we not only keep an eye on the market, but come up with special offers like our Guaranteed Sale of Your Home program. Even if you already own a home, we think that you should be able to take advantage of the low interest rates and upgrade your living experience without the stress of selling your current home weighing you down.  Our program guarantees that if your current home doesn’t sell before you move into your new Wallmark Home in our popular Birchwood Estates community, we will buy it from you. Did somebody say that Home Ownership just got easier? At Wallmark we are making sure of it!