The headlines over the past several months have been far from comforting. Whether our everyday business activities are impacted by market fluctuations (or downright downturns) or not, the recent activities surrounding the North American economy have been of concern. In times of great financial instability, however, the smart investor always finds a way to turn negative headlines into dollar signs, and turn skepticism into opportunity.

With loss in consumer confidence and in market values, both equity and land based, it is no secret that the last half of 2008 concluded with much uncertainty in the global economy. How long this feeling will last is anybody’s guess. The public reaction to this downturn has forced each and every one of us to reconsider how we spend our hard-earned dollars, and in the case of real estate purchasing, has forced us to do what all wise investors of real estate should do in any market condition: a thorough evaluation of the prospective investment.

As for British Columbia, and more specifically, the Greater Vancouver and Fraser Valley regions, the once scorching hot real estate market is now officially a ‘buyers market’.  As reported by the Real Estate Board of Greater Vancouver (REBGV) and the Fraser Valley Real Estate Board (FVREB), 2008 witnessed the benchmark pricing for detached homes decrease 11.2% and 6.5% respectively.  With additional marginal decreases anticipated for 2009, the reality of improved affordability, low interest rates, and a declining supply is a window of opportunity that should not be ignored by those who are serious about how they invest in real estate.

But what does all this mean to today’s residential real estate buyer?

Firstly, waiting out a declining market in anticipation for a ‘bottom’ is an imperfect science at best and a lost opportunity at worst.  As Dave Watt, President of the REBGV points out, “the reality is people tend to buy when prices are going up, not when they’re going down.” So, 2009 provides a unique purchasing opportunity that has not been present in our local market for several years.

Secondly, with the prospect of a potentially softening market in the rear view mirror, and the reality of today’s normalized market having received widespread acceptance, developers, homebuilders, and realtors are providing more aggressive pricing and incentives for those looking to buy a home.  A market correcting itself, along with price reductions and incentives will only benefit those looking to buy a home in 2009.  Most viable of these unique purchasing opportunities will be the detached single family home.

From an investment standpoint, the long term value associated with a single family home in desirable neighborhoods within well-located regions is undeniable. History has shown that over an extended period of time, a detached home will increase in value and will more often than not, be less prone to market fluctuations compared to other forms of housing like condos and townhomes. Combine this with the current state of our ‘buyers market’ in Greater Vancouver and it is fair to say that the opportunity to purchase a single family home has not been this good for several years.

Of course, that is my opinion – there are others.

Macroeconomics aside, the homes at Anderson Walk by Epta Properties in collaboration with Epta Construction are located, designed, and priced perfectly for the current real estate market and here are 5 reasons why:

1. Starting at $590,000 with over 2,400 square feet of livable area, these homes are a great value even in today’s softening real estate market.

2. Anderson Walk is located in the growing community of South Surrey- one of the most desirable neighborhoods in all of the Lower Mainland for first-time homebuyers, young families and those looking for a community where they can retire in comfort and ease  

3. Epta Properties has assembled a team of professionals for Anderson Walk that is second to none.  From our site contractor to our award-winning interior designer, the team of working professionals share the same goal of producing a vibrant, beautiful community for you to enjoy.

4. Nature is literally at your doorstep - Anderson Walk is nestled comfortably between the gentle Nicomekl River to the north, the lush greenery of the Riverside Golf Course to the West, and the quiet natural habitat of Anderson Creek to our East. To top it off, Anderson Walk is laced with lovely walking trails along the water and boasts a greenbelt feature in the heart of our community.

5. Our neighborhood is walking distance to many community amenities that are listed on our website. Restaurants, groceries, schools and transportation are all a stone’s throw away - close enough to be convenient, but far enough not to disturb the peacefulness at Anderson Walk.

To learn more about our friendly new South Surrey community, please visit us online at www.andersonwalk.ca 

This entry was posted on Thursday, February 5th, 2009 at 9:32 am and is filed under Anderson Walk, Real Estate News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.