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Hurry - don't wait on this one, give us a call toll free on 1-877-277-4073 If you would like more information on real estate in and around the Okanagan area of British Columbia in Canada be sure to click here Thanks for watching! Don
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Mid February already and Valentines buying is in full force! Even our almost 3 year old granddaughter blurted out last night that she wants a Valentines cake??? The power of advertising!
So how do we make sense of “advertising” surrounding the housing market? Is it time to list? Time to start looking to buy? The question many of our buyers ask us at this time of year is - will the homes coming onto the market in the Spring be listed on average at lower or higher pricing than the current inventory? Should they wait to see what new homes will come on as there will be more choice; or if newly listed homes come on to the market at a higher price is it better for them to purchase now before prices go up?
Looking at the actively listed homes for 1st of February versus 1st of January, we find that average pricing is almost across the board down in the different sub-areas around town. Not by much, but it is a downward trend rather than an upward one. This may be due to the fact that some homes being listing now were previously listed at a higher price but did not sell, so are coming back on market at reduced rates to attract buyers to purchase.
It also can be a reflection that the Sellers who list now before the grass is green and the flowers are blooming, are perhaps the more serious sellers who do want quick sales activity on their homes.
Either way, we do know that adjusting the mortgage amortization periods to 30 years from 35, plus the announcement that most banks have increased their 5 year rates this week, is certainly prompting buyers to lock in their mortgage rates now. Therefore sellers who are currently on the market are starting to see offers happening.
Please feel welcome to call us at 250-503-3461, toll free 1-888-225-2277 and book a time to chat about where your home would fit in current market pricing and give you instant access to new listings and price changes of homes on the market.
We hope you find the MLS® real estate statistics we've provided below useful. We have compiled many more detailed reports for the Vernon, BC area and we'd be happy to send you a copy. There is no cost or obligation for this valuable information, just e-mail us your request or call us at the numbers above.
The first report shows Vernon and area Single Family Homes actively listed for sale on the MLS® as at February 1, 2011 grouped by sub-area.

Below is a comparison of MLS® properties sold in the last 6 months vs those sold during the same period a year ago.

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Great day skiing at Silverstar
Pre-qualify for your next home with Lew MacDonald,
Mortgage Broker at Verico Tailor Made Mortgages in Kelowna BC at www.MortgageBrokersOkanagan.com
Lew MacDonald Okanagan
broker / owner
Verico Tailor Made Mortgages
250-862-6101
Email: Lewis@VTMM.ca
Online Application
www.MortgageBrokersKelowna.com
CMHC Mortgages
Conventional Mortgages
Fixed Rate Mortgages
Equity Take Out Mortgages
Private Mortgages from 6.95% in BC
First Time Home Buyer Loans available
Move Up Buyers looking to advance their real estate holdings
Vacation Homes for the up and comers
2nd Home Loans with pricing as good as Primary Loans
Investment Property Financing with 20% down
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We've begun to post our 2010 North Okanagan Real Estate Sales Recap series on our website.
The first post in this series shows the number of residential real estate sales transactions in one pie chart, and the distribution of dollar values in the second pie chart.
View North Okananan real estate sales numbers.
Total number of residential real estate transactions in the North Okanagan Zone was 1452 generating a total sales value of $488,339,315. We are in the process of updating our Neighbourhood pages with the final 2010 data and sold reports so check back often to see what happened in Neighbourhoods that are of particular interest to you.
See you online,
Brell ~ Brenda Ellis REALTOR ®
Your Okanagan Real Estate Umbrella
with Century 21 Executives Realty Ltd
(250)549-2103 Office Reception
1-877-227-4073 Toll Free
(250)308-4310 SMS
Century 21 Executives Realty Ltd.
2907 - 32nd St.
Vernon, BC V1T 5M2
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