Pros

• In Surrey (shorter permit times than nearby White Rock)
• Distressed Property, for sale at $350,000 under Assessment
• Nearby 5yr old Home Sold for $2,600,000
• Back Lane, Corner Lot, Quiet Street
• 61'x130' 7,904 sq.ft
• No Easements

Cons

• No rent possible, current house occupancy permit removed
• Many Trees requiring removal for new build, some touching power line along 132 St
• High Carrying Costs with current rates

When will interest rates come down, from big banks?

CIBC Forecast "June 2024"

"We are expecting the Bank of Canada to not lower rates until June 2024" -CIBC

TD Forecast "Second Half of 2024"

“With another hike still being contemplated July 12 2023, it would be unusual for a rate-cut to materialize in early 2024 absent a harder landing in the economy.” -TD Economics

If you can't outlast the current high rates it may be the best time to sell!

Ready To Find Your Next Home or Investment?

Rock Realty is here to help, call today!

Founder/CEO, Rocky Sharma PREC 604-825-7743

or

Partner Realtor, Matthias Alleckna PREC 604-343-5222