suzied.ca

The April 2008 stats were released earlier this month, and painted a bleak picture for home sellers across the Central Okanagan.  Sales are down, inventory is up- and the stable, more balanced market CMHC has been forecasting has suddenly arrived.  What this means is that it if you are a buyer, you will find a huge amount of selection across the board.  Last thursday, the MLS review announced production delays due to the fact that once was a 60 - 80 page production including every listing in the Central Okanagan was up to 140 pages! If your a home seller, it has become absolutely paramount to price your home properly, and to be realistic in your expectations! In recent years, we have become accustomed to our homes earning us a passive income in percieved gains in equity as values increased, and many home owners feel a loss at what may be the reality of missing the peak in pricing.  This reality isnt changing any time soon - so it I encourage people to look at the more distant past when getting a handle on their current market value. I feel pricing right now is on par with fall 2007 - and while those prices are under February 2008 ( when we had less product competing in most segments ) they are certainly way higher than Spring 2005! So if you’ve been a home owner in the Okanagan for longer than a few months - you’ve made a tremendous profit. Focus on the history of large gains, not the latest corrections.

If your a buyer - enjoy yourself! There hasn’t been a better time to bargain shop then now since 2001! The selection of product is up in every category and its the perfect time to get in on the “BUY LOW” half of the buy low, sell high key to real estate investment success! Pick up an extra house or two - with a 10 year plan and some patience you are guaranteed to enjoy the next cycle of upward trends.

Every few days I will post mls #s of hot properties I find in the market - regardless of listing broker. Feel free to link to mls.ca to check out more details on them and call me to arrange a viewing if it interests you. If you want to be a part of my preferred client programme, drop me an email and tell me a bit about what you are looking for.

Right now - here’s my top picks

9192820 - rural house on .75 acres in Joe Riche.  Big house, tons of potential for $449,000

9193034 - huge 3 bdrm townhome in complex with pool, central kelowna. rentable, pets + kids okay!

9193086 - home with inlaw suite, walk to beach, amazing views in Beautiful Peachland! 499,900

9191630 West Kelowna Estates - reduced $20,000 to $449,000! Great area!