Hot Tip Of The Week

A sign of a very sharply reducing market:

Properties are listed $100,000 below assessments on the West-side.

Early numbers indicate used apartment listings 103% higher in Vancouver from 2,900 to 6,000. Sales 50% lower. Prices on used condos 3% lower to $368,000 on new condos 15% lower to $410,000.

If they do not do the deal in the US this weekend ... real estate in the US will REALLY tank and we will also get affected. We believe the deal will be done.

We said last year on August 18 on your show:

18.8.2007 among other things:

... 3. Fix your financing ... as a builder, developer ... or for your business ... lending will be tougher.

And lending is a lot tougher now ... learn some innovative techniques to finance ... Vendor take backs etc.

Hot tip:

1. Watch your insured deposits ... only to $100,000 ... the world is experiencing runs on the bank from Hongkong to Europe to all over the US.

2. Watch your credit line - it may be yanked or reduced.

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