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March Market Update – Tee Ball
Blog, Featured Blog Posts | April 5, 2014
Maybe you played tee ball as a kid or your kids were on a Tee Ball team. Whatever the case, the idea behind the juvenile version of baseball, was to speed up the learning process and give the young newbie baseball player the opportunity to hit the ball, run the bases, and engage the defensive team with a live baseball play. The tee is the tool that makes the game work for the young players. Without the tee the game is slow and very painful to watch, even for the most enthusiastic baseball fan.
Real estate investors dream of days where the market is like a tee ball game. They would love to find properties in triple A locations, properties that are easy to put under contract, and have positive cash flow. Oh, and the property appreciates when the appraisal is completed. Sounds too good to be true, well it is. This isn’t Tee Ball where the score doesn’t matter, this is real property, with real money, and real variables that can bring big wins or big losses.
The spring market in the Fraser Valley and Greater Vancouver is full of excitement much like a spring game of Tee Ball. Currently there are good opportunities in the Fraser Valley for an investor to hit a single or double in the condo market. Great buys can be found in most areas with “Buyer” STR numbers in the single digits, making for downward pressure on price, strong opportunity for negotiating, and of course better cash flowing properties.
The detached market throughout the region has significantly lower inventory than the same month last year and sales remain similar or stronger and in some cases even creating a seller’s market. Burnaby, Vancouver East, Coquitlam, Port Moody, Langley, and Cloverdale continue to be the most active areas.
The market is ready to give you a single or double. The secret is…. you need to swing the bat. Call me at 604-807-4366 if you have any question regarding the STR numbers, areas, or buying and selling opportunities.
STR (Sell Through Rate) Formula = Sales ÷ Active Listings + Failed Listings + Sales
