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State of Vancouver Real Estate Going Into 2025 w/Adam Scalena -E61

In this episode, host Alex McFadyen and guest Adam Scalena, a Vancouver-based realtor and co-host of the Vancouver Real Estate Podcast, delve into the current state and future projections of Vancouver's real estate market. Adam and Alex reflect on the predictions they made about Vancouver Real Estate in 2024 from Episode 15 of The Flow. They discuss the impact of interest rates, the resilience of Vancouver's housing prices, and the challenges faced by both buyers and sellers in different submarkets. The conversation also touches on the dynamics of the pre-sale market, the rental market shifts due to policy changes, and opportunities for potential buyers and investors. Adam provides expert insights into market trends, the influence of political decisions, and the intricacies of tenant-landlord dynamics in Vancouver. Adam Scalena is real estate obsessed. Adam co-manages ⁠⁠Scalena Real Estate⁠⁠ founded in 2011, a real estate team that prides itself on expertly advising sellers and buyers on all aspects of the dynamic and fast-paced Vancouver real estate market. Adam’s professional achievements include being recognized by The Real Estate Board of Greater Vancouver as a top 10% agent since his rookie year, as a Double Centurion Agent awarded to the top 1% in Canada (Century 21), and the coveted spot as Oakwyn’s Top 30 Agents. Adam has also dedicated much of his career as a mentor to new agents, many of whom have gone on to be top-producing industry leaders. Adam is real estate obsessed. He has an extensive background in residential and commercial real estate investing, building, and renovating in Vancouver and throughout the province. His network has expanded over the years to include many of the best agents, contractors, engineers, lawyers, and architects in the industry throughout British Columbia. In 2016, Adam co-founded the Vancouver Real Estate Podcast, the first of its kind, which has become a global success with over 500+ five-star reviews, 1 million+ downloads, and countless awards and acknowledgments. The Vancouver Real Estate Podcast gives everyone the opportunity to stand on the shoulders of industry giants with timely, weekly conversations with builders, investors, politicians, urban planners, architects, economists, and other industry thought leaders, discussing their successes, failures, motivations, lessons learned and best investment advice. As leading voices in the industry, Adam and Matt have been featured in local and national media and have worked with many of Vancouver’s most reputable developers on some of the region’s most successful and respected development projects. Adam lives in East Vancouver with his wife, Sabrina, and his two girls, Ivy and Cecilia. The Vancouver Real Estate Podcast (VREP): vancouverrealestatepodcast.com Scalena Real Estate: scalenarealestate.com ********** Timestamps: 00:00 Introduction and Welcome Back 01:14 Reflecting on Past Predictions 02:26 Current Market Trends and Insights 03:18 Interest Rates and Market Reactions 04:13 Submarket Dynamics and Resilience 08:40 Pre-Sales and New Builds 22:48 Rental Market Challenges 25:58 Investor Sentiment and Policy Impact 34:42 Future Market Predictions 40:25 Conclusion and Farewell 🛠️ For FREE Resources, including the BEST App to calculate everything you need to know for your mortgage, check out the following link: linktr.ee/themortgagepug 🎙️ Make sure to check out our brand new podcast, "The Flow: Real Estate & Money Show" wherever you listen to podcasts. https://podcasters.spotify.com/pod/sh... 💰 Thinking of buying a home in Canada, maybe even a second property? Get prepared FIRST with a FULLY UNDERWRITTEN Pre-Approval through our team at Flow. Make sure to visit our website (getflowmortgage.ca) or send us a DM! 🌊🌊🌊 🌐 For detailed insights and tailored advice for the Canadian market, don't forget to visit https://www.getflowmortgage.ca/. And, if this content lights a bulb for you, give us a like, share, and make sure you're subscribed to Flow Mortgage Co. 🌊🌊🌊 For daily content make sure to follow us on social media! 🌊 Flow Facebook/Instagram/Threads: @flowmortgageco 🐶 Alex's Facebook/Instagram/Threads: @themortgagepug #canadarealestate #vancouverrealestate #costofliving #housingcrisis #housingbubble #bcrealestate