1. Why is the owner selling ?
   Sellers will have different reasons for why they are selling. Moving away, upgrading, divorce,can't afford it anymore or just selling. Knowing why a home is being sold will determine motivation, and give you an idea what kind of an offer you may want to give. Selling agent will not tell you this, but a Buyers agent  working for you should be able to find out.
2. Price history ?
   Knowing the history will also give you an idea as to how much you may want to offer. Was the home listed before? How many times? At what price? How long has it been on the market? Ahome that has had couple or more reductions in the last three months is different than a house that has been on the market for three months with no reductions.
3. What comparable homes have been sold recently in the neighbourhood?
   Knowing about similar homes that have been sold in the area, will give you a pretty good idea what the home may be worth. Last three months of sales are the mmost relevant and this also the kind of history the bank will get from their appraiser, and use it o qualify you for your mortgage.
4. Is this the most expensive home in the neighbourhood?
   Careful on this one. There will have to be a great reason to buy the most expensive home in the neighbourhood. Make sure that you are not motivated by fancy toys and trimmings. Those are easily replaced and don't carry any lasting value. However, extensive renovations to kitchens and bathrooms, new paint fresh jobs, carry more added value to the home. Mid range in any area  is the best investment and the kind of homes that sell faster and for more money.
5. Should I hold or sell?
   Well, flipping is not in the cards right now. With the market leveling out and possibly going down a point or two, buying to flip is not a good idea. On the other hand, with the interest rates being very reasonable, (anything under 6% on a five year mortgage is a good rate), buying a home is a good investment. Explore variable rates with option to lock when needed.
6. If I am buying a condo, how do I know if it's a good deal?
   Your neighbourhood average per square foot price is a best common denominator to estabilish a value. Added features and extensive renovations should be asessed for their value when submitting the offer price.
7. What about the home assessment value?
   Assessments never represent (well alsmost never), true market value. Agood CMA will. However it may be worth looking at the relative assessment value of properties in the area to give you another bit of information when preparing your offer.
8. Where should I buy?
   We all know what transportation is all about in Vancouver. Frustrating and slow. Being close to SkyTrain, good bus service, or West Coast express services  is preferable. If you have to drive to any of the stations, make sure that there is parking available in the area.
9.  And finally, what do I want in my new home?
   Sit down and write a list, in order of importance, from one to 5 or 10, of the thngs you absolutely must have in your new home. Than, get on the phone and phone your Buyer's agent

You may not have answers to most of these questions, but a good Buyers agent will, and be worth it's weight in gold to you. Buyers agent will save you time, money and be a good sounding board for your questions.

Have a real estate question? Need help? Call me, Jeff Stark at 604-298-8777.