Tuesday, June 2, 2009

Kelowna Real Estate is BUSY

OK... I didn't drop off the face of the earth, it's just that people are coming around and the real estate market is hopping!
Prices really seem to have levelled out in Kelowna and in fact I believe we're now in a balanced market vs. a buyers or sellers market. Not as much inventory has come on this spring as it usually does so those buyers have only so many homes to choose from. With this in mind, offers on homes priced correctly are closer to list price than they have been lately. The sellers who were slow to respond to the market change are scrambling now to get back in the game with some big price reductions bringing their property into the competitive arena. Banks are bouncing around with their interest rates... some even inching them up!
Anyone out there thinking the market is going to come down should think again and get busy with whatever their plans are. We live in the most beautiful part of the world and it's only a matter of time before our real estate prices are on the rise again... my humble opinion anyways!
Talk to you soon.

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