Is It The Right Time To Buy Vancouver Real Estate? Low Interest Rates and Falling Housing Prices Make It A Good Time to Consider Investing in a Home

Vancouver Real Estate Update April 2009 – New Stock of Vancouver Condo Units Dwindling

In a recent study and analysis of Vancouver real estate inventory, it came as a shock for many homebuyers and real estate investors/analysts that the housing stock is dwindling in the City of Vancouver as of March and April 2009. According to 24 Hours Vancouver newspaper, Dharma: “Prices for new Vancouver housing real estate stock have hit the floor, according to the man who launched a series of bulk real estate sales across the region. According to Cameron McNeill, president of MAC Marketing Solutions, he said that his latest condominium Vancouver promotion, which started on March 20th, 2009 and represents over $110 milion in Vancouver home sales at four real estate developments, could be the last of its kind as vacant properties in the Lower Mainland and Fraser Valley built before the economic downturn are filling with residents. “New [Vancouver real estate] developments cannot come to market at these values,” McNeill said. “They don’t make economic sense or every few of them do.” A further drop in Vancouver new home sales prices may not be in the cards according to MAC Marketing solutions as well. “I think that we’re going to see that we’ve found the floor and we’re going to be staying close to these prices –for six months to at most a year – and then we’re going to see a slow appreciation.” But Tsur Somerville, associate professor at UBC’s Sauder School of Business, said projecting an economic recovery in the Vancouver real estate market is no easy task. “People in the business of selling talk about the economy stabilizing and starting to come around and then there are others who aren’t so optimistic,” Somerville added. “There’s a consensus that prices [for Vancouver real estate housing] have further to fall. What there’s not as much as consensus on is when things start turning around.”

Vancouver Real Estate Market Downturn or Property Market Opportunity?

We are in a Greater Vancouver/Lower Mainland housing market that has definitely changed from the furious pace of the last few years. While the media slowly tires of sensationalized stories of a crash, industry experts watch as Vancouver real estate opportunities emerge. And I ask, is this a market downturn or a market opportunity? A special advertisement provided by Polygon real estate developers in Vancouver. Economic Slowdown: After six years of exceptional growth there is no doubt British Columbia now faces a more difficult challenge. With the financial crisis and global economic slowdown new challenges have emerged in the Greater Vancouver real estate market and will become the stories of 2009. Home Prices Within Reach: The bad news is not unfamiliar, home prices in Greater Vancouver have fallen. But is this really bad news? For those renters looking to get into a new home, home prices in the Lower Mainland are within reach for the first time in years. For those that currently own a Vancouver home, the news isn’t all that bad either. Sure, the price of your home may have correted, but so too has the dream home you aspire to own. Do the math; a 10% reduction on fthe cost of a more expensive home represents a greater savings to you than a 10% reduction in your own lower priced Vancouver home. In a booming real estate market the reverse is true. Today’s lower prices in the Greater Vancouver real estate market clearly presents an opportunity to purchase for many. Interest Rates Lowest in Years: With recent drops in lending rates from the Bank of Canada, a prospective homeowner now stands the chance of getting a home financed at some of the lowest mortgage rates in fifty years. For many, the difference between a mortgage payment on an average priced home six months ago and one made today can represent savings of hundreds of dollars a month or thousands a year, clearly an opportunity not to be missed in today’s Lower Mainland real estate market! Strong Political Leadership: Our country is now facing some challenging political times; however, thanks to Premier Gordon Campbell, and the efforts of our B.C. Liberal Government, British Columbia offers some of the most competitive personal and business tax rates in Canada, and is leading the country in job creation, economic strength, business confidence and fiscal responsibility. Consumer Confidence: Let’s be honest, with such great real estate Vancouver prices, low interest rates, plenty of choice and all the buying power a prospective homebuyer could ask for, the only thing keeping people from acting is fear. I suggest that if you are planning to stay in your home for five years or more, there has never been a better time to purchase a new Vancouver home. Think about it, smart homebuyers buy in a buyer’s market. Even this past fall, we saw many smart people taking advantage of today’s opportunities in the Lower Mainland real estate market as we closed over 300 sales int eh last three months of the year. Real estate markets change but two things remain constant: the desire to live in well designed homes, and Polygon’s commitment to building them well. After building more than 18,000 homes in Greater Vancouver real estate market, over the last 28 years, Polygon continues to be confident in the future of British Columbia. If you are thinking about upsizing, downsizing, or getting into your first home, I encourage you to take advantage of today’s Vancouver home buying opportunities. The advice I share with friends and family is to buy the best home you can afford in the best neighbourhood for your search area in the Lower Mainland. Visit a Polygon community in your area this weekend and we’ll help you find the new home that’s right for you. In the long run, you will realize the value to yourself and your family of owning a home int eh great Province of British Columbia. Neil, Present and Chief Executive Officer for Polygon. Polyhomes.com.

Polygon Builders Report Steady Sales in South Surrey Real Estate Market

According to a Vancouver Sun special advertorial by Polygon, the home buyer’s response to amenities and value make Polygon’s Kaleden and Cathedral Grove at Morgan Heights in the new South Surrey a success this year. “There’s a reason that the quiet treed corridor along South Surrey’s 158th Street has become a such a popular place. It could be the allure of the stands of mature evergreens set against a backdrop of the North Shore Mountains. It could be it’s proximity to the lively new shopping district of Morgan Crossing just a short walk away. But most likely, it’s the combination of these factors and the quality, design and value of Polygon’s latest new home communities Kaleden and Cathedral Grove in Morgan Heights, South Surrey real estate market. AS the saying goes, few factors have the ability to secure a home sale quite like the age-old adage ‘location, location, location.” And Kaleden and Cathedral Grove by Polygon in Morgan Heights community stands as a testament to this, offering Vancouver homeowners a convenient doorstep to one of the liveliest new neighbourhoods the Lower Mainland reale state has to offer at Morgan Heights. Walking distance to a brand new and expansive selection of urban village style boutique shopping and dining, a short drive to the sandy beaches and shorelines trails of White Rock real estate or the lush greens of Morgan Creek Golf Course, Polygon’s two new communities at the South Surrey Kaleden homes and Cathedral Grove houses sit among the best this area has to offer. But if fun in the sun in the sunniest place in the Lower Mainland real estate market proves not to be enough then Steve Nash’s 38,000 square foot fitness centre (coming soon to Morgan Heights South Surrey) or the arena, pools, and other amenities of the local South Surrey Athletic Park are sure to fill your day for even the most active of families. And with easy access to the highway a weekend trip to Seattle or the outlet malls across the border are conveniently close. For young families with children, or newlyweds with plans for kids and ht eprospect of school on the not too distnad horizon, the options are equally promising at the Morgan Heights community of South Surrey real estate market. The top ranked Southpointe Academy is at the end of the street for those interested in private school; or, with the city’s approval of a new public elementary school slated for the land across the street, a quick trip home ofr lunch could be in the cards for the kids of Morgan Heights Kaleden and South Surrey Cathedral Grove home communities in the very near future. “A strong selling point for our homebuyers is certainly our central location,” says Cathedral Grove Sales Manager Laura. “But for many it is what they find on their arrival that sets us apart from the rest,” she says pointing down a winding path through stands of mature evergreens that tower over a central amenity clubhouse here at the Morgan Heights South Surrey Cathedral Grove and Kaleden home communities. “Our favourite part is the trees,” says Cathedral Grove homeowners. “During our first visit we noteiced the clubhouse. It was beautiful, sow e walked over to have a look. The pool was fabulous, the barbecue was on, and the ambience was great!”

The Evergreen Club at Morgan Heights and More Info

The Evergreen Club South Surrey, a breathtaking 7,500 square foot country club inspired clubhouse, features a beautiful outdoor pool and spa, state of the art media room, fireside lounge, and more, to which residents at both Polygon South Surrey Morgan Heights communities receive exclusive access. In addition, with two guest suites that homeowners can reserve for visiting house guests, and a resident manager who ensures everything runs smoothly, owning a home at Cathedral Grove Polygon homes or Kaleden South Surrey truly is a resort inspired experience. With many new homeonwers having already moved in, the community is quickly coming to life. Residents of both Polygon communities in the South Surrey community were recently treated to one of their first official neighbourhood events: a Wine Tasting party hosted in the inviting fireside lounge of the Evergreen Club by local wine merchant Liberty. The evening marked the first of many more events to come at the Evergreen Club of Morgan Heights as both communities continue to grow and welcome the new neighbours who will make their home at Kaleden or Cathedral Grove by Polygon Homes. On the home front, it doesn’t take long to fiture out the appeal of owning a Polygon home. Whether it’s a contemporary two or three bedroom floor plan at Kaleden Morgan Heights or a spacious four bedroom at Cathedral Grove South Surrey real estate, the quality, design and value Polygon delivers in every home is evident. Distinguished for its remarkable affordability while including designer finshings, such as integrated cabinet paneled appliances, granite countertops, and warm wood style flooring, it is not surprising Kaleden Morgan Heights South Surrey homes has been reconized as the fastest selling townhome community in all of the South Surrey real estate market. For htose families looking for some additional space and finer details, Cathedral Grove at Morgan Heights offers home up to over 2100 square feet, gourmet kitchens well equipped with Bosch appliances and granite countertops, and the conveniences of two car garages. In today’s South Surrey real estate market, likely the most important and final consideration for prospective hombuyers is the price. “Kaleden Homes is our first home purchase a is by far the best value we could find,” homeowners at Kalden by Polygon Homes. At just $314,900 for a new home at Kaleden South Surrey and only $419,900 for a four bedroom home at Cathedral Grove in Morgan Heights neighbourhood, these two new communities offer some of the best value in the entire Lower Mainland property market. “We are delighted with the steady sales at both communities having sold 105 homes here in the last seven months. WE are now down to eight homes in our first phase at Cathedral Grove… and having quickly sold out of our first phase at Kaleden, we will be releasing more homes this weekend.” Offering a vibrant lifestyle in a convenient, yet exclusive, setting, Kaleden and Cathedral Grove homes in Morgan Heights South Surrey shine as two of the best in the hot new neighbourhood. The Polygon family of companies, British Columbia owned and operated since 1980, has built more than 18,000 homes throughout the Lower Mainland, and earned the trust of thousands of families. Polygon’s award winning Customer Service team provides after sales service, and all homes are protected by comprehensive 2/5/10 warranties by the Traveler’s Gaurantee Insurance Company. The Morgan Heights Kaleden and Cathedral Grove South Surrey sales centre and display homes, as well as the impressive Evergreen Club, are open daily from noon to 5pm except Friday, and are located at 27th Avenue and 158th Street in South Surrey. For more information about Kaleden, please call 604.541.4246 or Cathedral Grove, please call 604.541.7383 or visit www.polyhomes.com.