Will Victoria BC's Real Estate Bubble Burst?

[@MarkKantyMarketingExpert]

Ira, really enjoyed your analysis - very helpful and informative. Would enjoy seeing you do this type of analysis as a regular feature - monthly? Quarterly perhaps?

[@NatashaFragnatic]

Great information given, thank you for your work!

[@bend.5182]

Ira, I'm curious as to why you said 5 years of ownership? Cheers

[@IraWilley]

If you look at a graph of Victoria's market, we have many times when the market drops but over 5 years it generally trends upwards. 5 years is enough time to recover Realtor fees, taxes, closing costs, etc... if you try and flip homes and time the market (1-2 years of holding them) then that's when it gets risky.

[@bend.5182]

Thanks for the reply. We got lucky and became townhomeowners in Langford not too long ago and we were thinking about upgrading in 3-5 years. Appreciate the videos and insight.

[@trustmeiknow1]

Starting to think about buying, seeing a noticeable uptick in listings.

[@IraWilley]

Absolutely, if it continues into the Fall we may see better pricing as well.

[@trustmeiknow1]

@@IraWilley The one thing Im worried about is the strata on some of these places, and as you say, potential insurance issues coming down the pipe. What areas of town would you consider for someone who works downtown on Pandora? We live in Esquimalt now, but I was thinking either Saanich or View Royal might not be too bad of a commute.

[@IraWilley]

@@trustmeiknow1 Mayfair/Hillside areas are very easy to commute into town. Lots of new proposed condo developments in Saanich and lots of assignment sales in the presale buildings now. I would definitely get a newer builder if you can swing it.

[@trustmeiknow1]

I want to buy an assignment! Do you have any?

[@IraWilley]

@@trustmeiknow1 There are many assignments available, it depends on your budget and building. Please send me an email!

[@Gigi-xr3qs]

Ah.. Ah.. Ah...

[@Gigi-xr3qs]

Ok Ira, I just noticed that you have a very serious flaw in your speaking presentation. You say "ah" almost every sentence. I actually started to tally how many times you said "Ah" in this video, and it came to 62 Total times. I am not even kidding. You need to stop using "ah" as crutch if you ever want to be taken seriously. I am not trying to be a jerk here, but am trying to help you man, work on eliminating "ah".

[@IraWilley]

Ah thanks for the feedback ah :)

[@Gigi-xr3qs]

@@IraWilley You are a great speaker and presenter otherwise, if you fix that you're golden ;)