Salmon Arm, BC

MEDIA RELEASE: October 5, 2011

Shuswap Housing Market Showing Signs of Stability Going into Fall

Sicamous, BC – The Shuswap Zone of the Okanagan Mainline Real Estate Board (OMREB) reported September 2011 salesactivity of all MLS® property types improved compared to sales at this time last year and the previous month (August 2011) as the housing market begins to show signs of stability going into fall.

In September, overall unit sales improved 18.75% compared to 2010 (to 76 from 64) with sales volumes at $21.8 million compared to $20.6 million last year – up 16.92% from August sales (65). Total residential sales climbed 16.98% compared to 2010 (to 62 from 53), and rose 12.72% over August (55). Single family unit sales improved 9.09% from last September (to 24 from 22). Last month’s inventory of 1,696 units was down slightly (2.29%) from 1,658 last year, while new listings rose 6.99% compared to 2010 (to 153 from 143) and dropped by 23.88% compared to August (182).

“The market in the Okanagan ‐Shuswap is beginning to stabilize as autumn unfolds. With the bump‐ up in sales during September and steady activity over the past few months in the Shuswap - Revelstoke Zone, we are cautiously optimistic moving forward. Most segments continue to hold their own while the recreation and investment sectors remain sluggish, being most impacted by opportunities south of the border, and Canada’s slower than anticipated economic recovery and modest job growth,” says Karen Singbeil, OMREB Director and REALTOR® in the Shuswap Zone. “Overall demand in most BC markets has cooled along with lagging consumer confidence. Belt ‐ tightening and apprehension about making big purchases have continued as ongoing concerns over personal debt load, net worth and employment are being influenced by news of American economic uncertainty, global instability and equity market volatility.” Singbeil notes, “Serious buyers are looking for well ‐priced properties – recognizing that now is the time to buy while there is still an ample selection of homes and room to negotiate, and while low interest rates continue to positively impact their purchasing power and determine the home they can afford.

Sellers can benefit from working with a professional REALTOR® to price strategically at current values and make the most of buyer activity. Homes with good curb appeal that are listed by sellers with the sharpest pencils are selling quickly in this competitive market. “

The results of OMREB’s Board ‐ wide monthly Buyers Survey profiling who the buyers are, what they are buying and where they are from shows that the majority of buyers are from within the Board area. First ‐time buyers and move‐ up buyers are a driving factor, and stimulate the chain of ownership.

The Shuswap Zone of OMREB includes the areas of Salmon Arm, Sicamous, Sorrento, North Shuswap and east along Highway 1 to Revelstoke. The Okanagan Mainline Real Estate Board (OMREB) is comprised of 1,122 member REALTORS® and 91 real estate offices in the Southern Interior of BC.

For the most comprehensive source of all real estate listings, home buying and selling information, visit our national websites at www.realtor.caand www.icx.ca. To find out about the advantages of using a REALTOR® , check out www.howrealtorshelp.ca. All OMREB listings are published in the MLS® Real Estate Review magazine available at all real estate offices and various locations in the Central Okanagan, North Okanagan, the Shuswap and Revelstoke areas. For comprehensive Board ‐wide statistical information, please visit our local public site: www.omreb.com

‐30‐

For more information:

Karen Singbeil, Director ‐ Shuswap Zone (Shuswap statistical information) karen@shuswap4sale.com (250) 836‐2223

Kent Jorgenson, Director ‐ Central Zone (Board‐ wide statistical information) kent@kentjorgenson.com (250) 717‐5000

Cameron Muir, Chief Economist, BCREA (Province‐ wide statistical information) cmuir@bcrea.bc.ca (604) 742‐2780

DISCLAIMER: Monthly sales statistics are based on the sales reported by real estate offices as of the last day of the month.

SHUSWAP British Columbia MLS® FORECLOSURE PROPERTY UPDATE ~ February 27, 2011

I first started a Shuswap Foreclosures Blog in December 2009 with MLS® Active Foreclosures:

See how far we have come since December 09, then we had 13 Residential and 2 Commercial Foreclosures fpr sale !

**To VIEW MY Original Foreclosure post: http://activerain.com/blogsview/1386909/shuswap-bc-foreclosures-listings-information-sicamous-salmon-arm-surrounding-shuswap-areas-

Update February 27,2011 **All info obtained through Okanagan Mainline Real Estate Board.

FORECLOSURE Listings Information for Sicamous, Salmon Arm & surrounding Shuswap areas **Contact Karen Singbeil karen@shuswap4sale.com for an e-mail list or to be set up on an automatic MLS® search if you are looking to buy or sell in the Shuswap area.

Current Breakdown of Active Foreclosures listed on MLS® for all areas of the Shuswap, BC: (excluding revelstoke)

Total : 37

31 Foreclosures (Court Ordered Sales) under MLS® Residential are currently Active in British Columbia for the Shuswap Region! (excluding revelstoke)

6 Commercial Foreclosures (Court Ordered Sales) under Commercial MLS® are currently Active in British Columbia for the Shuswap Region!(excluding revelstoke)

Breakdown of Active MLS® Foreclosures for the Shuswap region:

22 listed in Residential Foreclosures: Priced from $186,900 to $749,000. in the area's of Sicamous, Salmon Arm, Malakwa, Eagle Bay, Seymour Arm, Celista, Blind Bay, Anglemont

4 listed in Strata or Condo Foreclosures: Priced from $229,900 to $399,900 in Salmon Arm, Scotch Creek, Eagle Bay

4 Residential Foreclosure lots: Prices ranging from $32,900 to $1,499,000 Anglemont, Seymour Arm & Blind Bay

1 Mobile Homes in Foreclosure: Priced at $68,000 in Salmon Arm.

1 Farm Listing at $479,900 in Salmon Arm

4 Commercial Listings in Foreclosure: prices ranging from $369,000 to 1,400,000. listed in areas : Sicamous, Malakwa, Westwold & Sorrento

1 Commercial Lot in Foreclosure: priced from $119,000 (empty lot next to one of the business above) Sorrento

Jan-Dec. 2010 Foreclosure SOLDS in the Shuswap area under MLS® Foreclosures : 18 Sold

January 2011 Foreclosure SOLDS: 2

February 2011 Foreclosure SOLDS: 0

Shuswap Real Estate Housing Market ~ MLS® SOLD Stats Jan.1-11th, 2011

**All Data obtained from Okanagan Mainline Real Estate Board for Shuswap Area (excludes Revelstoke)

7 Shuswap properties sold in the Shuswap area and reported by Okanagan Mainline Real Estate Board for MLS® transactions for the time period January 1-11, 2011:

For a complete list of what is for sale or what is selling in a specific Shuswap area please contact me at karen@shuswap4sale.com

I can help you whether buying or selling for all Shuswap Properties !

Shuswap Real Estate Market Housing Report ~ December 21-31, 2010

All information obtained through MLS® Okanagan Mainline Real Estate Board:

6 Shuswap properties sold in the Shuswap area and reported by Okanagan Mainline Real Estate Board for MLS® transactions for the time period December 21-31, 2010:

Status: Sold (6)
List Price SOLD Price DOM Beds Baths Finished Floor Area

For a complete list of what is for sale or what is selling in a specific Shuswap area please contact me at karen@shuswap4sale.com

I can help you whether buying or selling for all Shuswap Properties !

Housing Market Update (December 2010)
Watch BCREA Chief Economist Cameron Muir discuss the November 2010 statistics and an in depth look at the rollercoaster of home sales:

For inquiries regarding statistical and economics-related news releases, please contact: