Q: We hear Whistler prices are down quite a bit. We would like to buy a unit and use it ourselves and also rent it out to help with the mortgage. Is now a good time?

A: Whoa! Yes, Whistler prices are off between 30 per cent and 40 per cent . but please consider two things.

1. The zoning is of the utmost importance. If you have a phase II condo (same prices now as in 1998!), you are restricted in how you can use it and must pay commercial taxes, etc. If you have a Phase I condo you can rent it or use it at your convenience (we recommend this).

2. In my years at Whistler or Kimberly, everyone dreams of the tenant paying the mortgage and having personal use, too. I have never seen this plan realized. Whenever you want to use it, usually that’s when you get the highest rent (Spring Break, etc.) so you end up not using it and grabbing the cash. Decide to buy either as an investment property or for personal use. But on the bright side, yes, prices on Phase I units have also come down.