Bowen Island/Gulf Islands - help please?

[JimmyWW]

Hi StevenP

Just to add my two cents to Skook's typically well-researched and considered reply: me + family are looking to move to Bowen end 2015/early 2016. I have found Dee Elliott to be disarmingly frank and honest as well as a very personable individual - in other words, she'll tell you the unvarnished truth.

I can't say too much about what comes next as this was private information given to me by someone who invests professionally in real estate in Vancouver, but the research this person's firm has conducted in terms of property sales that are happening right now in the Greater Van area suggests that a significant moderation in both land values and sales prices is in progress, and that it would be smart to wait at least a year to see what happens next.

Taken in the round, I would agree with the comments made in the Undercurrent article - except to add that the average sale price to assessment value on Bowen (and yes, there are outliers) is approx 4-5% above assessed value. If you go to evaluebc.ca and look at some of the assessed values against asking prices, that gives you a pretty good feel for how far things still have to go in terms of price reductions ALTHOUGH for the first time in the two years I've been "lurking" in the Bowen market, some properties and land parcels are being offered for sale at or below assessed value...

Cheers


JimmyWW