June, 2008 -Condo Deals!
The long anticipated condo crunch is in full swing, with reductions across the board in every segment. The months of April and May were especially bleak, with late June starting to see a trickle of summer interest from out- -of towners! I’ve been especially busy myself with a couple of out of hopeful new locals this week and have spoken with many more - it seems as though interest in Okanagan Real Estate hasn’t disappeared, but is simply overwhelmed with the HUGE supply! I’m out with my new friend Sharon from Alberta tomorrow ( local Realtors still love Alberta! ) and we are both feeling like we are drowning in options and choice. Thank goodness its great fun to wade through all the product with an enjoyable companion, nothing like dozens of units to brush up on your product knowledge! Thanks to enslaught of new buildings in the last few years, Im even getting into some of them for the first time. 1994-96 is all coming back to me now- in the condo segment, at least, its a buyers market! Single family has recently picked up, and we are comfortably settling into level market, one in which sellers actually have to compete a little to entice a good offer. Presentation and pricing is paramount, but pricing seems to have maintained the same level as Fall 2007, slipping slightly from early spring highs. Hope you are enjoying your summer and after months of unpredictable weather -finally remembering why the Okanagan is such a great place to live!