Quote:
Originally Posted by cKy
We missed listing by a few weeks. Once those June interest rates kicked in it has completely stalled houses in our area. Some of the more expensive ones seem to be moving, but not our modest little house.
You are right though, we're going to get a decent home (looking towards Okotoks) for the money - it just couldve been way more debt off the table if we we're maybe 3 weeks quicker listing.
Such is life.
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Timing the market perfectly isn't really possible. If you'd cashed out in Victoria at the very peak, you would have run into the bidding wars in Calgary. Prices are still very high everywhere in BC, if some houses aren't moving, it's because people are still pricing them too high.
Your probably a little used to it, but earning $400k plus (which I'm assuming is on the lower end of what your property increased by) on real estate in ten years is not normal. That's a huge amount of cash to have in hand tax free. Like winning a lottery. Many people will never have that much liquid cash, even after a lifetime of working.
The fact that lots of people in BC are getting ridiculously rich is what keeps the system going. It's a system that not everyone, obviously, profits from. If you have, I say take the money and run.