Canadas Beautiful Fraser Valley - A Buyers Sellers Market

So you think the market is hot? Why is that? Many people follow the crowd and go with what the media is promoting. Some of the hard core factors that affect real estate are Interest rates, Taxes, Rent Controls, Economy, Population and much more. Let's get started. Interest rates in British Columbia has a direct connection between prices in the lower mainland and Fraser Valley area's. The higher the rates, the lower the prices. The lower the rates, the higher the prices. When the rates are low, more people can afford to buy their first home or an investment property in Abbotsford, Langley or Vancouver. This puts pressure or a greater demand on the Fraser Valley market.

With our municipal and provincial taxes in British Columbia you'd be affected with property values. When your in an area with high municipal property taxes this can be a deterrent to a purchaser. A rise in taxes could cause real estate prices to drop. Provincial taxes, such as a property purchase will limit the number of buyers. These factors would affect the overall amount of real estate activity as well as prices in the Langley, Burnaby, Chilliwack or other Fraser Valley Markets.

Naturally, provincial rent controls and related restrictions could have a limiting effect on how much an investor in real estate can be active. This chain effect limits the number of potential buyers on the market. Rent controls are governed by provincial legislation. Not all provinces have rent control, but any province can introduce them or modify their existing legislation at ANY TIME. If your curious about your rental caps simply go to any search engine and type in "landlord tenant law in British Columbia". You will see the criteria for increasing rents in your Fraser Valley area.

The confidence in the economy is an important factor in stimulating home buyers and investor activity in the Fraser Valley. If the mood is positive then more market activity will occur in Langley, Richmond or wherever you live in the lower mainland. Conversely, if the economy is stagnant, the opposite will occur resulting in a decreased number of home buyers. Luckily the Fraser Valley has opportunities that attract immigrants from outside the country and other provinces. This increase demand increases the popularity of prices.