Kelowna Real Estate Deals - Upper Mission

Got a GREAT deal for a client in the Upper Mission area of Kelowna over the weekend. Over 250 homes are currently for sale in the area and if you can take your time, eventually someone will bite at a low offer.
We've been seeing quite a number of price reductions which is confusing to some people. Are the prices still coming down?
I believe that there have been enough consistent sales now to indicate that the market has bottomed out for the most part. There are of course, still some VERY financially motivated people who may take less than fair market value, but those sellers are getting picked over. Instead, the price reductions that are coming through are those who were slow to the market change and are just now reducing their prices to where they should have been 5 months ago.
If you're thinking about it... do it! It's a pretty amazing time right now to be a
buyer in the Kelowna real estate market!
Talk to you soon...
Paige

A most frustrating day. 2 deals have collapsed because of the info posted yesterday regarding out of country money. All outside of my control but disappointing times 10 for the sellers/buyers who were pinning hopes on moving ahead.
On a lighter note... my slip fell off during a meeting I was having with a client while walking through their home. I felt something wierd under my dress and when I looked down, there was the slip in a puddle at my feet. Hilarious! Client didn't notice at first, but we had a good chuckle over that one!
My job is never boring.
Talk to you tomorrow.
Paige

Interesting tid-bit in the world of mortgage financing. We've found banks have tightened up some rules, while still providing great access to funding for buyers. What has changed to the extreme in some cases though, is foreign buyers trying to purchase with out-of-country money. Getting money out of other countries can be tricky... so it's best to leave the subject to financing longer to allow all the "hoops" to be jumped through.
Also, people with pools are starting to put their places on the market. Spring must REALLY be coming!
Talk to you tomorrow.
Paige

Another day... and I'm up at the crack of 3 AM!!! What's with that?
Friday is my day off and today I hiked up through the hills behind my house. My mind likes this time to unwind all the things that have happened during the week. I was successful in gluing 3 buyers and sellers together. Now we do the waiting game while subjects are being met.
I also picked up the copy of the Real Estate Weekly and there were mistakes in our ad. BIG pet peeve of mine and it seems no matter with a call, e-mail or fax, our corrected proof is often wrong!
Does anyone read the Real Estate Weekly any more? Where do you go for
Kelowna real estate info?
Have a great weekend!
Talk to you tomorrow...
Paige

Wow... talk about real estate rock stars! I'm working with these amazing people who are selling their home. They have an incredible amount of stress in their lives. They take it all in and still keep smiling. We've been working for so long to get an offer and just when you least expect it TWO come in! Now that one is accepted, they have one more week of anxiety to see if the Buyer removes their subjects. Come on REG! (For those of you who've never heard me refer to REG... it's Real Estate God) .
Talk to you tomorrow...

Paige

March 18, 2009

Hey... this is my first post. I'm new to blogging and am wanting to do something light and yet informative.
I've been in the business for 23 years now and have seen all sorts of markets. Being a buyers market now is terrific for those who were finding affordability an issue. Interest rates are at their lowest in years and inventory is up!
Keep coming back... I'll find my groove and there'll be some good stuff here!

Paige