real estate investing

Wednesday’s 100 basis point hike to the overnight interest rate brings the total increases this year to 2.25%.   This will understandably have a profound impact on housing prices.     The monthly payments to purchase the same home in January compared to today are up $1,100, or 52%.   The rising rates have already seen around a 20% decline in prices in the GTA, and here in Vancouver, around 11%.The full effects of the recent rate hike have yet to be felt.   Plus, current indications are that rates will be raised to 3.75% by year end, adding another 1.25% before the Bank of Canada levels off.    The word Recession has become predominant recently, though the robust job market is doing its best to hold it at bay.  June produced the lowest employment rate in recorded history, coming in under 5% for the first time ever.  There is no question property prices are going to go lower in Vancouver – current estimates point to 15% HPI.  With the cost of borrowing up, this isn’t making homes more affordable, as monthly payments for the lower price home are as high as the higher priced home with lower rates.      Cash buyers are the real winners here._________________________________ 🏡 Visit our website to see active listings and valuable Real Estate information 🏡 → The Vancouver Life: https://bit.ly/3yN25V7🏦 Investors 🏦 Join our Investors Group with over 6,600 Members→ Facebook Group for Investors: https://bit.ly/3CQ7hu3 💥 Follow us on Social Media 💥 → Instagram: https://bit.ly/3jSkRo1→ Facebook: https://bit.ly/3g05bxK→ Twitter: https://bit.ly/3xMGFpZ_________________________________ The Vancouver Life Real Estate Group are licensed Real Estate Agents at eXp Realty Vancouver / eXp Realty Canada:🏆 Top 3% Agents 2019, 2020, 2021🏆 Medallion Club Members 2019, 2020, 2021🏆 Over $250,000,000 in saleswww.thevancouverlife.com_________________________________ 👩🏼‍💼 Are You A Real Estate Agent? 👨🏼‍💼Book a 1-on-1 with us to learn how we help agents DOUBLE their business → https://bit.ly/level10agentThis is a taste of what our Coaching Team can offer you, free of charge!🆓 Google Ads coaching or discounted management🆓 Level 10 Agent + SIMS Coaching Systems & coaching calls every week🆓 YouTube, social media & online lead generation coaching🆓 Access to an online lead generation program🆓 Access to online lead conversion program🆓 1-Page business plan created with you by our Coaching team🆓 90-day Coaching new agent training program🆓 Your Assistants trained & hired with SIMS assistant team🆓 Your Inside Sales Agents trained & hired with SIMS powerhouse ISA team🆓 Access to our private Facebook mastermind Group🆓 Access to 1-1 when you need us for support🆓 Access to kvCORE, 40+ weekly training calls, stock, revenue share and more…👉 Learn more at https://bit.ly/level10agent_________________________________

Home sales dropped 35% from this time last year in the Vancouver area, and a full 43% in the Fraser Valley. Toronto saw a similar decrease at 41%. This is the third consecutive month of declines where the sales sit at 23% below the 10 year average. The landscape is now vastly different than it was 3 months ago when buyers lined up to compete for the same home. Now, homes are sitting, prices are dropping, properties can be negotiated, and yet, buyers aren’t interested. Of course the rising rates have been the largest contributing factor, but oddly, all the cries for more homes and less competition have been heard, and the buyers are gone. Perhaps sidelined is a better term. With rates rising at the fastest rate in history, with the Bank of Canada increasing further next week, there is a feeling of ‘shell shock’ in the industry. Buyers have pulled back to see where things will settle. On top of this, many people have seen a tremendous amount of wealth eroded in the stock market. Lastly, we’re about to enter the typically slower summer months where minds shift away from real estate and more towards enjoying the weather.In this episode we look into the June numbers, share predictions on where prices are going next, and discuss recent Mortgage Rate Drops, yes DROPS, that are already taking place in the States._________________________________ 🏡 Visit our website to see active listings and valuable Real Estate information 🏡 → The Vancouver Life: https://bit.ly/3yN25V7🏦 Investors 🏦 Join our Investors Group with over 6,600 Members→ Facebook Group for Investors: https://bit.ly/3CQ7hu3 💥 Follow us on Social Media 💥 → Instagram: https://bit.ly/3jSkRo1→ Facebook: https://bit.ly/3g05bxK→ Twitter: https://bit.ly/3xMGFpZ_________________________________ The Vancouver Life Real Estate Group are licensed Real Estate Agents at eXp Realty Vancouver / eXp Realty Canada:🏆 Top 3% Agents 2019, 2020, 2021🏆 Medallion Club Members 2019, 2020, 2021🏆 Over $250,000,000 in saleswww.thevancouverlife.com_________________________________ 👩🏼‍💼 Are You A Real Estate Agent? 👨🏼‍💼Book a 1-on-1 with us to learn how we help agents DOUBLE their business → https://bit.ly/level10agentThis is a taste of what our Coaching Team can offer you, free of charge!🆓 Google Ads coaching or discounted management🆓 Level 10 Agent + SIMS Coaching Systems & coaching calls every week🆓 YouTube, social media & online lead generation coaching🆓 Access to an online lead generation program🆓 Access to online lead conversion program🆓 1-Page business plan created with you by our Coaching team🆓 90-day Coaching new agent training program🆓 Your Assistants trained & hired with SIMS assistant team🆓 Your Inside Sales Agents trained & hired with SIMS powerhouse ISA team🆓 Access to our private Facebook mastermind Group🆓 Access to 1-1 when you need us for support🆓 Access to kvCORE, 40+ weekly training calls, stock, revenue share and more…👉 Learn more at https://bit.ly/level10agent_________________________________