HOW WAS THE MARKET IN APRIL '14
The Real Estate Market in general is looking very good. 4 out of 14 lofts were sold in Gastown in April. Currently there are 20 lofts on the market ranging from $269,000 to $2,300,000 so as usual there is something for everyone. Of the 4 lofts that sold they were on the market for an average of 44 days.
2 notable lofts listed for sale are 501-41 Alexander, the Captain French (already has an accpeted offer) and 201-141 Alexander, the Malkin. I have a handful of favourite buildings in Gastown and these two rank very high on my list.
Here's some great info from Darcy Doyle with Mortgage Evolution: With global economics now gaining strength since the crash of 2008, optimisim seems to be the in the air. Despite this optimism, the Canadian economy is still not at full capacity yet and is not in a position to be increasing our interest rates anytime soon. With this information in mind, variable rate mortgages are looking very good again. In a recent meeting, the Governor of the Bank of Steven Poloz announced that he does not foresee the Prime Rate moving till sometime in 2016. He continues by saying that even when they do start increasing, it will be very controlled and they will not need to be increased very much to have the desired effect on the economy. Link to article
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