Patrick Murphy 250 486 2529   patrickmurphy@remax.net

PS For the smart alec’s in the crowd, the 21 seconds refers to YOUR TIME TO READ THIS, not how long it took me to put it together!  Thanks for having a look.

As one of my clients (WHO INVESTED IN SUMMERLAND JUST THIS LAST 30 DAYS) said “Well, it can’t get any worse around here”.  Very wise statement (hope he’s right, and I do believe he is).  Readers, when things can’t get any worse, that means the risk is ALL WRUNG OUT OF THIS MARKET…

More on this, right now, I have to go attend a meeting with some very positive proactive business people…BTW its 7:15 am.  Beleive, me, good things ARE happening in Summerland.

Patrick Murphy 250 486 2529

patrickmurphy@remax.net

UPDATE: For a couple other postive updates here:

ytd 2012: 8

January SOLD 2011: 10

January 2010: 9

January 2009: 5 now that was a tough month in Summerland!

January 2008: 11

January 2007: 11

# REAL ESTATE OFFICES IN SUMMERLAND: FIVE

WRAP ‘EM UP QUOTE:

Quality is never an accident; it is always the result of high intention, sincere effort, intelligent direction and skillful execution.”  W.A. FOSTE

Enjoy your workday!

Patrick Murphy in Summerland 250 486 2529

BTW, since you’re here, take another 23 seconds or so to scroll down some active listings …you just never know!

And you might want to read up on Calgary market making headlines:

http://www.vancouversun.com/business/Calgary+condo+unit+fetches+million/6049026/story.html

There are 278 active MLS listings this morning

Our RE/MAX office has 4 of the 5 most recent listings

Our RE/MAX was a clear cut #2 in sales results for month of December

The OTHER guys have 28 active listings that have sat unsold on MLS for 714 days!

AND…THE LAST STAT FOR THIS SUNNY MONDAY MORNING…this update took you less than 23 seconds to read!  So, click here often for this kind of info, and if you have suggestions for other stats, let me know!

Patrick Murphy 250 486 2529

RE/MAX Orchard Country in SUMMERLAND

patrickmurphy@remax.net

Now, how about the opportunities created when we are also then able to sponsor a night with the Vees?  That was an amazing marketing outcome, including media attention to our effort before the game and subsequent!  PLUS, the social media play was huge for this as well, including contact with people from the visiting team’s area!

So, when I can do just like every other Realtor and advertise a small black and white (or maybe color) ad in a print copy insert of a local newspaper…well, there just truly is no comparison.  In today’s world of Real Estate, there just has never been a worse time to do the same tired old things!  Not when there are other ways to go about your work that create so much more positive results and spinoffs like this kind of effort.

And that is why a Realtor bothers to spend money advertising at the South Okanagan Events Center!

Patrick Murphy 250 486 2529

patrickmurphy@remax.net

http://www.pentictonvees.ca/leagues/front_pageVees.cfm?leagueID=8370&clientID=3172&link=Vees

We had a great time, thanks to Summerland Waterfront Resort, Edgy Petals, Summergate Winery and the Beanery Coffee Company, the fans had fun, too!

http://www.summerlandreview.com/sports/137619563.html

Highlights:

As we turn the page on 2011 it gives us a great opportunity to review the marketplace over the past year and to take a good look at our business plan and strategy for the New Year and the years ahead.

2011 will be remembered as a year of total stability in the marketplace with the starting prices for the year and the ending prices at virtually the same mark. On Wednesday, Chris Mooney, president of the REALTORS® Association of Edmonton reported,” It is a relief to report on the stability and health of the local real estate market. With prices and sales varying within a small range, there is a solid base going forward into the 2012 market.”

Mooney also mentioned the European debt crisis and a depressed housing market in the U.S. as major concerns, but emphasized that the energy based economy of Alberta in general and Edmonton in particular keeps our local housing market buoyant. The average price of residential properties sold through the MLS® shrank slightly year-over-year, from $329,019 in 2010 to $325,457 in 2011. The number of sales however were up by 3.8% to a total of 16,893. In December, 827 properties sold which was almost identical to the 829 sold in December 2010.

The oil and gas business continues to forecast some very positive activity for the year ahead. With the price of oil remaining at or near $100 per barrel and with the increased drilling activity, there is some renewed optimism for the job market especially in this sector of the economy. We have a saying in the market “When Fort McMurray has the sniffles then we in Edmonton catch a cold”. With the planned increases in investment in the Oil Sands together within the number of projects that are forecast to come into being with the next couple of years, it would appear we will see an increased demand for the skilled labor market which will increase the net migration back into the Province and the City and with it increased buyer activity for the housing marketplace, both new and resale.

In conclusion, interest rates continue at a very reasonable level and together with our very stable balanced market; we expect to see a modest increase in prices and activity level as the year progresses.

Thanks again for allowing us to bring this review to your attention and may we again thank all of you who recommended us to your clients.

Gordie Ell Team, Edmonton

So, when a property has been placed for sale under these terms, it requires an acceptable offer in order to trigger a court date for examination of the offer. The entity authorized to sell the property (and accept an offer) must only accept “subject to court approval”.

This acceptance then triggers a court date where any other potential purchaser has the right to still submit an offer. Usually when the property is listed at an attractive enough price, there will be other interest. And you as buyer will want to know there is other interest to adjust your negotiating position accordingly.

When there is a very attractive price, often the court process ends up with a higher sell price than the list.

There are many other details, so let me know if you have further interest or questions! Patrick Murphy

250 486 2529

patrickmurphy@remax.net

For more information on purchasing real estate in the Okanagan, click this:

http://www.youroklife.com/serious-about-buying-i-do-things-different/

In Summerland, the average assessment value dropped from $444,000 in 2011 to $443,000 this year, a decrease of around 0.3 per cent.

The changing values in Summerland and the rest of the region tell the story of an ongoing economic downturn and its effects on the economy and the housing market.

At the same time, some communities, such as Oliver, Osoyoos and Princeton, have seen their assessment values increasing, suggesting that the economic outlook there is a little sunnier than elsewhere in the region.

These are communities which have either worked hard to market themselves or have acquired jobs in the past few years.

Summerland, with nearly flat property values, has fared remarkably well considering the economic conditions the community is facing.

http://www.summerlandreview.com/news/136624258.html

Patrick Murphy

250 486 2529

patrickmurphy@remax.net

RESIDENTIAL: More single family homes failed to find a buyer in 2011 than any year since 1998, and 2011 saw DOUBLE the failure rate of the very disastrous 2007!

FARMS/ORCHARDS: The number of failed efforts was five times the number of solds in Summerland.  There are 13 active listings, 5 solds all of 2011, and 26 times a property this category did not sell.

LOTS: there is a four and a half year supply of building lots in Summerland.

17 sold Summerland MLS, 78 active for sale and 36 tried to sell but could not find a buyer.

COMMERCIAL: 100% of the commercial, industrial, investment properties sold in Summerland (MLS) in 2011 were foreclosures.  But, there were only 2 sales anyway! And there are 17 left active, but there are 22 others that tried and failed to find a buyer in the last 12 months.

These MLS statistics display a very soft market where it is imperative your listing agent has the experience to get your place sold, now more than ever, a full service Agent makes all the difference in the world.

Patrick Murphy

250-486-2529

patrickmurphy@remax.net

PS My most recent listing sold for 99.3% of full price, in under 60 days!