Vernon, BC

In real estate location is not everything - and timing can change everything.

I remember meeting Leona Snider (CEO for Okanagan real estate development "The Rise")- a powerhouse of a woman full of great passion when she came to present a project update at a Century 21 Executives Realty sales meeting - what must be now 3 or even 4 years ago. I came away with the thought that it takes courage, massive dedication, resources and yes balls to be a real estate developer...especially one who dares to create new living concept.

I think it is important to honour people like Leona who have the courage to act on their dreams. I hope that our announcement today that an offer to purchase the project (subject only to court approval - all other conditions having been satisfied) will be a welcome one for her - and one that will come to be seen as the end of a dark chapter in the story of her vision - but not the end to it.

For an update on the Accepted offer to purchase THE RISE

There is a poignancy to transactions like this - in those that have been either foreclosed or under creditor protection. I remember being excited to get my first "foreclosure" listing over a year ago... right up until the time I put the key into the lock and opened the door onto someones abandoned hope. That feeling was amplified enormously this spring when we took on the Port Side Court receivership sale in Sicamous,BC On one hand I was tasked with creating excitement around the "deal" of receivership and on the other - we faced the enormous sense of very real loss for the family involved.

Opportunity is everywhere. Without the courageous and creative we would live in a very different world.

On twitter today I answered the question "if you could have 1 lunch with 1 celebrity... who would it be and why?" with "Steve Nash - short white BC kid repeats as NBA MVP - courage, drive, determination and application of massive skills" or something like that.

Leona - I salute you. You are right up there with Steve in my books. I hope that we all can see your dream come true - thank you for sharing it with the world.

See you online,

Brell ~ Brenda Ellis REALTOR with TheOkanaganRealEstateHub.com @ Century 21 Executives Realty Ltd

(250)550-2161 Direct Dial

(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

Much has been said about "The Rise" a Vernon BC real estate development in the Okanagan Valley since the project was announced and initial real estate products were scooped up in a frenzy. LEONA SNIDER - CEO, THE RISE is quoted on the real estate development home page: "It's an experience like no other, to see your dreams come true. This has been a long standing dream of mine." Both the perception and the reality of real estate in North America is much different today than it was in 2005. As recently as last Thursday I was reading stories that discussed The Rise (see below) Today, we announce an accepted offer to purchase the property and the project.

After many months of work and negotiation, Scott Davidson -REALTOR with Century 21 Executives Realty Ltd. and Bill Hubbard, Broker Owner of Century 21 offices in Vernon, Kelowna and other Okanagan locations announce that a deal has been reached. "With the removal of the financing conditions, and the seller ceasing to be obligated to any other offers to purchase as of yesterday - the deal became as firm as it can get in a transaction requiring court approval- which is the only hurdle left at this time." said Davidson - the buyers REALTOR(r)

The offer - details of which remain confidential, will be the source of much speculation and coffee talk in real estate offices and within the local trades. "What I can say, and would like to stress is that the purchaser insisted on presenting an offer that more than covers the debts. We want the trades to know we intend to continue with the project and we will need you to create saleable real estate on this land" said Davidson. With that, it would seem that the torch of "The Rise" will indeed be passed into hands that will continue to nurture its promise and possibility to fruition.

Just last week Jim Sutherland of the Globe and Mail. wrote:

"Leona Snider can pinpoint the Great B.C. Land Bust to the day: September 9, 2008.

Until that fateful date, it looked as if the 19 years of work that she'd put into her dream would finally come to fruition. The Rise, her 735-acre hillside development-"the most beautiful spot in the province," she says-was the first anywhere on North America's west coast to incorporate a winery component. Above the home sites, climbing toward a mountaintop plateau, was a designer golf course; below, on Lake Okanagan, a private beach club. Estimated build-out: $1 billion. On the day sales opened in 2005, 40 of 53 home sites on offer were snapped up in 90 minutes."

Project lender Calgary-based Arres Capital, backed out of the project on September 9^th and within weeks, Snider was in court seeking bankruptcy protection for approximately $50 million in liabilities.

For more information about Okanagan Real Estate, please feel free to visit us online at TheOkanaganRealEstateHub.com or DevelopmentsOkanagan.com Click here to subscribe to our blog or follow us on Twitter @RealEstateHub

See you online,

Brell ~ Brenda Ellis REALTOR with TheOkanaganRealEstateHub.com @ Century 21 Executives Realty Ltd

(250)550-2161 Direct Dial

(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

Fear not Virginia for the Ghost Tours of Vernon will return for two nights this Halloween season to tantalize and terrify you with true ghost stories and traditional tales of terror.

“For Halloween I like to add a few traditional style ghost stories to mix things up. Of course I won’t tell you which ones are real and which ones aren’t,” says host Mr. Gabriel David Sumegi Newman the 2nd who has been conducting his tours for the past six years. “I always love presenting the tours at Halloween, the leaf strewn streets add an ambiance that you simply can’t beat.” Newman is only offering his tours for two nights, October 28th and 29th, so make sure you don’t miss them.

Tours leave from the steps between the Vernon Museum and Library at 7:00pm for the hour and a quarter walking tour. This is also your last chance to see the tours for only $5. Next year the cover charge will rise so if you are frugal act now! No reservations are necessary.

Contact Mr. Gabriel David Sumegi Newman the 2nd,

Paranormal Expert, Entrepreneur, and Purveyor of Medicinal Remedies
250-260-8757
ghosttours@shaw.ca
www.members.shaw.ca/ghosttours

This happens way too often to be a coincidence. Here is a guest post from my team member and broker owner about this bit of real estate mystery:

This is a phenomenon that actually causes a great deal of problems for a lot of buyers. They look at how long the house or property has been listed and assume that there is not real hurry in putting in an offer and then find themselves in multiple offer situations and consequently pay more for the property than they would have if they were not in a multiple offer situation.

Actually, there is a fairly simple and logical explanation for this phenomenon. At any given time there are a number of buyers out there looking for a similar type of property or home.

So for instance let’s say that there is a home in East Hill in Vernon BC in the North Okanagan Valley. This home has 3 bedrooms and is priced at $400,000. Now hypothetically consider a “value Grading system” for houses in this area and price range, at this time. For instance, from a value perspective when this house comes on the market it is graded as #4 compared to its competition.

Then another house is listed that is better value so it is now #5. Now 2 houses sell so it is now #3 on the value grading system. Now 4 more homes are listed that are better value so it is #7 on the value scale.

So this house fluctuates up and down on the value scale for this neighbourhood for 6 months all the while having other homes that illustrate better or lesser value get listed and sell around it. Then - after 6 months of no sale, the houses of better value sell and the house in question slides in to first place on the value scale.

There are 3 people out there looking for this type of house in this price range. Now we have 3 offers on a house that has not had any offers for 6 months.

The house in question simply slides into first position on the value scale. This is also a good explanation for the importance of price in Real Estate Marketing. In other words the only way to increase your value rating is either improve the house substantially or bring down the price.

Many times we list a house and we have no showings and no offers. Then we inch the price down in $5000 increments. After 3 reductions we start to get showings but no offers. Usually one more reduction will bring an offer.

The rule of thumb in Real Estate is that if you are getting showings but no offers you are a little overpriced…if you are getting no showings and no offers you are a lot overpriced. But after all you always have to remember this is just the world according to

Bill.

Bill Hubbard Broker, Owner of Century 21 Offices in the Okanagan. The Okanagan Real Estate Hub - Century 21 Vernon, BC

Today I am posting a guest post from a client of mine - Carter Brown.

I had the great pleasure of working with Carter and Izzie Brown this spring - where we saw several houses - fought dinosaurs, hopped from place to place and crept stealthy through scary spots. When pulling up to the last house, Carter pronounced " These people didn't have any kids........ No KID would ever leave a house THIS GREAT! " and with that Carter and Izzie's search was over and Mom bought the house.

Hello Brenda,

OKANAGAN LANDING ELEMENTARY needs funds for various activities and equipment and is currently running a fundraiser to raise money. Please choose from among the wide selection of over 700 magazines that we offer on our web site. The best part is that you can renew your existing magazine subscriptions, so you don't even have to order anything new if you don't want to!


Just click here and you will be able to view my group's Web Page!


Thanks Brenda, for your support.

Carter Brown
OKANAGAN LANDING ELEMENTARY


P.S. For every magazine purchased, you'll save up to 85% off the newsstand price and support OKANAGAN LANDING ELEMENTARY!

P.P.S. If clicking on the link does not take you to QSP's Online Magazine store, please copy and paste the following URL into your web browser:
http://www.qsp.ca/store/SetSession.aspx?SupporterID=6226304&TemplateEmailID=6&SiteID=4&AccountID=392360&ParticipantID=2527648&extTrackID=Email01&LanguageId=1

Carter adds:

Our school's fundraising campaign is now at its peak, but we still need your support. If you have not yet taken the time to view OKANAGAN LANDING ELEMENTARY's fundraising site, you have some time left to see your favourite magazine titles at low prices.

Just follow these three easy steps:

1. Click here to see hundreds of magazine titles at up to 85% off the newsstand price, as well as many book selections.

2. Choose and order your favourite magazine(s), or book(s), or renew any existing magazine subscription(s).

3. Pay directly by credit card.

Thanks Brenda. We really appreciate your support!


Carter Brown
OKANAGAN LANDING ELEMENTARY

P.S. For every magazine purchased, you'll save up to 85% off the newsstand price and support OKANAGAN LANDING ELEMENTARY!

P.P.S. If clicking on the link does not take you to QSP's Online Magazine store, please copy and paste the following URL into your web browser: http://www.qsp.ca/store/SetSession.aspx?SupporterID=6226304&TemplateEmailID=7&SiteID=4&AccountID=392360&ParticipantID=2527648&extTrackID=Email02&LanguageId=1

See you online,

Brell ~ Brenda Ellis REALTOR with TheOkanaganRealEstateHub.com @ Century 21 Executives Realty Ltd

(250)550-2161 Direct Dial

(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