The US market is bottoming or has or will be. One party thru the Victoria Place open house on the weekend is very close to buying, but is “afraid” that it might not be bottom yet. Fair enough. Might not be. However, THE most rock solid piece of investment advice I have ever received (yes I know, location, location, location…and yes, I know, timing is everything…and yes, I know the real estate investor makes the money on the purchase…) from VERY wise and successful people is buy NEAR the bottom and sell NEAR the top! Otherwise, you are forever basing your investment decisions on FEAR (I’m afraid it might still drop) or GREED (It’s still going higher…).
In my years of real estate experience, I have seen markets stop, start and go sideways. Let’s look at the fundamentals:
Interest rates at record lows.
Demographic trends are HUGE coming into the Okanagan market.
Prices have CORRECTED.
Chinese economy on the upswing. US housing worst is “maybe?” behind them. Why do you think that on the day GENERAL MOTORS declares BANKRUPTCY…the stock market jumps over 200 points? Because the smart money looks forward thru the windshield, and simply does not look backward in the rear view mirror.
SUMMERLAND MARKET STATISTICS
For Summerland in the last 30 day period, there have been 35 MLS residential sales. There are 279 active residential listings in Summerland. Bear in mind this includes 64 lots, 22 farms, duplicate listings and apartments, townhomes, etc. leaving 131 single family detached homes available for sale.
That is really not a lot of supply given 35 MLS sales in the last 30 day period.
Summerland is the only small Okanagan town that still genuinely displays the benefits of graceful growth…Summerland has come of age as a premier winery & vineyard destination, but its greatest charms are its timeless ones…
Vineyards and Wineries, Orchards and Fruit Stands, Golf Courses and Restaurants, People Beaches & Dog Beaches, Boat Launches and Flyfishing Lakes, Historical Steam Train and Trout Creek Canyon Trestle, Bike paths and Walking trails, Adventure Quad Tours and Vigourous Hiking trails, Family Festivals and Car shows, Art shows and Sports Tournaments, Horseshoe Club and Badminton Club, Lions Club and Kinsmen Club, Racket Club and Fitness Centers, Curling Rink and Hockey Arena, Ride the Giant or Stroll Main Street, Laugh as the Quails scatter and marvel at the strutting Pheasants, park your car and ignore the “one hour parking” sign, shop our shops, linger over our sweets, marvel at YOUR small town…where Main St is rolled up and put away for the day at 5pm…Summerland is a small town as diverse as its Okanagan Lake landscape…
You’re not likely to get lost in our small friendly town, but you are welcome to lose yourself along our quiet country roads!
Today, many things have changed…but the important things have not. Summerland is what the Okanagan used to be, a small friendly town to savour sun drenched summers. Summerland is… YOUR Okanagan life!
Action Fest weekend in Summerland
is coming fast! June 5, 6, 7 CATCH THE FEVER, everything from small town parade to fishing derby and beer gardens (I presume!) and dance, (again, I presume!), mutt strutt!, fireworks, live bands and entertainment in the park…and on and on! A super time and a super reason to come to Summerland!