Zero Risk, No Money Down Happy Monday Morning! Zero risk, no money down, no interest for 5 years! Sounds like an advertisement from a used car salesman.. Nope, it’s the BC Government’s 5 year interest free loans. The entry level market appears to be heating back up again, despite the detached market crumbling underneath us. In January, 25% of Vancouver condos sold over asking price. That’s down slightly from 38% the year previous but there seems to be a lot of momentum right now. Meanwhile, over in the Fraser Valley it’s even worse. So far in February, 37% of condos have sold over asking price. The condo market is littered with first time buyers competing for the few condos available. Many bidding up prices with cash in hand from the BC government. So far the program has approved 356 first time buyers since January 16. Gambling with BC taxpayer money, there appears to be little cause for concern about the health of the market. Risk aversion? What’s that? Just a couple weeks ago I was in a multiple offer situation with one of my buyers. After reading the strata documents it was discovered the unit was about to be hit