Home > AM1320 radio real estate update > Market updates on how social media affects real estate market? Sales volume differences between 2011 Chinese NY & 2012 Chinese NY & how mortgage war affects home owners & home buyers?

Market updates on how social media affects real estate market? Sales volume differences between 2011 Chinese NY & 2012 Chinese NY & how mortgage war affects home owners & home buyers?


Mar.10, 2012

 Market updates on how social media affects real estate market? Sales volume differences between 2011 Chinese NY & 2012 Chinese NY & how mortgage war affects home owners & home buyers? 

 Please click podcast listen to Cantonese interview

Sales comparison in the 5 Chinese popular areas between last Chinese NY vs this Chinese NY.

Sales Volume

Jan.1-Mar.31

2011

Sales Volume

Jan.1-Mar.9

2012

Richmond

663

211

Vancouver West

687

288

Burnaby

371

179

West Vancouver

310

124

White Rock

525

157

Vancouver East

516

236

Coquitlam

371

                220
Over the past few months buyers seeking affordable housing appear to have migrated from the Vancouver West to the Vancouver East and the east side housing price is gradually creeping up with multiple offers particularly along the Main Street corridor with most of the action between Quebec and Fraser from East 12th St. to East 33 Rd. As a result, many of those homes are selling well above asking price. On the Vancouver West , prices are trending flat or slightly down.
Based on the current global economy, in my opinion, the rate needs to stay low or else countries with heavy debts load will have problem paying their interest..  However, if country likes US keeps printing money to create a “fake” economic improvement, FREE money will eventually leads up to inflation, which means higher interest rate.
The following is the example of differences between terms of mortgage :
$500,000.00 mortgage with fixed rate
Example Amortization Interest Rate Interest Term Monthly payment Differences Money pay
A 25 years 2.99 % 5 years $2,363.67
B 30 years 2.99 % 5 years $2,100.36
C 30 years 3.99 % 5 years $2,374.77 Between A $11.10    more
D 30 years 4.99 % 5 years $2,665.47 Between A $290.70  more
E 25 years 3.99 % 10 years $2,627.40 Between D $37.73     less
No matter interest high or low, Canadian dollars high or low, market high or low, economy good or bad, unemployment rate high or low.  If you were the worry type, the conclusion is you will almost always negative because you worry no matter what the situation is.  However, if  you are the optimistic type, you will always make the most out of any situation.

What does this mean to the housing market?
With all the government rolling out all the incentives in the past few weeks & now the mortgage wars, it stimulates the local market more than high end housing market.  I’m experiencing DT condo market is really moving fast.

Tina Mak Personal Real Estate Corporation
Your Vancouver Radio Realtor
(The Bridge from East to West since 1992)
#1 Female Agent since 2002 @
Coldwellbanker Westburn Rlty
International President’s Circle Award
Top 5% in Vancouver Real Estate Board
International Real Estate Info. Provider
Co-host of AM1320 Radio Investment Show
5489 Kingsway, Burnaby
BC V5H 2G1
Tel:604-412-5860
http://www.TinaMak.ca (温哥华中文地產網頁)
Email: tinamak@tinamak.com
“Knowledge Empowering Investment Decisions”
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