Karen Singbeil

I get asked everyday to give my opinion of value on property, from banks, appraiser's, the public calls me or stops in, & ALL sorts of REALTORS ask me either in my office OR in other towns.

Price is determined by two things:
1. What the other person is willing to pay TODAY.

2. What the last "similar" type property sold for within the same "time" frame which means refer to Rule #1.

This is NOT rocket science.
As REALTORS we have a mandate under our code of ethics to advise our clients properly and in doing so we have to give "facts" of the current market and what we believe the property should be priced at to find that "willing" buyer in that market.

OVER pricing is often used to secure a listing: Ask to see how many others have SOLD at what price & then make up your mind for yourself! Data on "recent" sales should be supplied to substantiate our claims. You do have the right to see this data & ethically you should be given this information. Do your homework! Often in a declining market and far too often lately people are finding out last year their house was worth more than this year. IF you are "really making a move" then price the home for today's market & it should sell!

NOW every once in awhile you will have the anomaly where some person will flat out just over pay SO drastic of "fair" market value this is what I call "my lottery ticket guy" doesn't care , wants it , has all the money in the world and is buying on more emotion than probably reason!
That is why things are sometimes skewed to the public & I undertsand why they believe theirs is "worth" more BUT that doesn't mean you can price your property placed on that one anomaly. If you are on the market for a reasonable time with little or no showings and NO offers then your flat out TOO high!

The current lottery is 40M & probably only one guy is going to win it! Let's hope it's you and you come to Sicamous, BC and buy lots of property all over the Shuswap & Mara Lake area! You know where to find me!!

Karen Singbeil 1.800.582.8639
RE/MAX at Mara Lake
LIST4U & SELLM2 (my plates)

April 2009

Sicamous, BC **1 Residential Sale** Mobile on Freehold land

Listed and Sold (My listing & RE/MAX at Mara Lake sale)

$152,300.

That's it reported on the MLS! (Data obtained through OMREB our local board)

Receivership condo's by the channel has a sign up that says 8 SOLD- 24 were listed on the MLS and none to date are reported Sold on the MLS system but the sign says 8 sold ? Building had 30 in total 6 were sold from the developer when they were new over the past several yrs. I called the listing brokerage to find what is sold and will let you.

Update on the receiver sales: The co-list said 6 of the sales they are saying Sold on their sign are from past pre-sales with the developer prior to the receiver marketing them. So they DO NOT count as new sales! 2 she said are sold but have not been reported yet on the MLS when they do I will update in May stats blog.

If you are thinking of Buying or Selling in the Shuswap pls give me a call 1.800.582.8639

Karen Singbeil RE/MAX at Mara Lake

Must say it has been a truly gorgeous week in the Shuswap area of Sicamous, BC leading into Easter. The flowers are all popping the tulips are almost open but not quite. Albertans are arriving by the truckloads literally! Love that province!!
Overall the weather outlook is a lot better than the forecast for the Canadian economy so I "hear".
Yesterday Rueters reported: I am only giving you a snipit, cuz it is just too beautiful outside to depress you:
TORONTO (Reuters) - The Canadian economy is expected to worsen in the first half of 2009 but may start seeing tentative signs of recovery as early as the third quarter, a Reuters poll showed on Wednesday.

So you have 3 choices: Pessimistic: Think it is only going to get worse. Optimistic: Think it Can only get better. 3) DRINK. No just kidding, okay kidding maybe a little bit (smile) ;)
Hey we could look at it this way: Shuswap + Summer = TONS of FUN: Weather is great here, hot & sunny, ice cream galore, cool cars with red plates (wink, wink) expensive convertibles, water skiing, beach, bikinis, vacation/holiday time, golf, mountains, lakes, wild life, wine tours, fresh okanagan fruit...want me to keep going? Pretty much the best of everything in Canada AND if you have money or the abilities to get some and you are in the drivers seat!
WELL...haven't said that in a few years or maybe 5?

So after Easter you best be getting your self to the bank & getting yourself pre-qualified, deals are out there & interest rates are low, low, low!

Our Real estate board (OMREB) put out this media release today in part:
Buyer Activity Picks Up As Affordability Improves
Sorrento, BC - The Shuswap Zone of the Okanagan Mainline Real Estate Board (OMREB)
reported March 2009 sales activity of all MLS® property types continued to pick up steam - increasing by 90% from 20 sales in February to 38 in March. In particular, single family residential units sold in March increased by 100% from February - up from 7 units to 14.
"Putting this into perspective, the increase in residential units sold in March over February for the past seven years (2002 to 2008) has been 52% on average," notes Bob Cliffe, OMREB President and REALTOR® in the Shuswap Zone. "The current increase in spring Buyer activity has likely been boosted by improved affordability and record low interest rates."

Just finished my 1st Q newsletter:
Sicamous Stats Jan. Feb. March 2009 (obtained from our local OMREB)

6 Sales Total

Residential ** 3 Residentail SOLD**
Highest Selling Price $705,000 (new house in Swansea Pt)
Lowest Selling Price $125,000 (mobile on freehold land in town)
Average Selling Price $445,000 & Median Selling Price $415,000
Average Days on Market 206

Condo/Strata
** 1 STRATA/CONDO SOLD**
Highest Selling Price $500,000 (Direct waterfront The Narrows) Average Days on Market 231

Mobile Homes
** 2 MOBILES SOLD**
Highest Selling Price $91,000
Lowest Selling Price $18,301
Average & Median Selling Price $54,650.50
Average Days on Market 135

Lots
** 0 LOTS SOLD

There you have it! You decide if your "ready" to price it to sell in 09 OR
Drive & buy in 2009?
Good opportunity for someone!!

I have to get going to book the rest of my weekend of work... Hippity Hop!!

As always thinking of buying or Selling in the Shuswap please pick me pick me... I would love to help you!
1-800-582-8639

Happy Easter! I hope you have time to celebrate & spend time with the people which matter most in life - Our families. I plan too!

Karen Singbeil
RE/MAX at Mara Lake

LIST4U & SELLM2 (my plates)

The Snow is nearly gone in Sicamous. Mara Lake has some snow on it still but Shuswap Lake is all clear! This weekend it is supposed to be warm 18C (70F) the spring flowers are all peeking out from the trampled down beds..they probably feel like me... finally, whew.. after the very long winter!
Usually Easter we have tulips and crocus but they are definetly going to be late this year.
BONUS: Sun is shining and the 1st Quarter of 2009 is forever GONE!!!

I ran the Stats for my Quarterly Newsletter & we are WAY down in sales numbers overall.
Sicamous BC Total Sales Jan - March 2009 (6)
Three of these were mine (1 condo & 2 houses) The other 3 sales were mobiles = not mine.
Needless to say I am "very, very" thankful to be selling!

Compared to the past 2 years:
Total Sales 2008 1st Quarter (14)
Total Sales 2007 1st Quarter (30)

See way down, right?

Deals are out there but so are the OVER priced listings! People please price them to the market we are in. That is if you "really" want to sell in 2009?
If you don't believe me, then spend the $$ and get a certified bank appraisal. The banks are NOT willing to give money to just anybody. The lending criteria is very strict now & your buyer has to be very strong to qualify. Rates may be low but not everyone has good debt ratio, deposit (cash on hand), or a job (steady income) to be able to qualify/purchase.

I feel if your property has not sold in the last 6 months & you have not adjusted the price you probably should! Go look at other similar properties to yours and see if they sold at what price and then do an adjustment. The other Active listings have NO bearing on what your house is worth, they are merely your competition. Other OVER priced properties "help" sell houses that are priced RIGHT! And just to clarify...I mean Lowering the price not raising the price haha..can you believe that happens? That is a funny one.

Oh by the way the assessed value (tax man) has no actual bearing on the "worth" or price of your property either so please quit thinking that. I am sure you have figured out this is a cash cow for the State or Province , right?

These buyers are NO April FOOLS!!
April Fool's these buyers are NOT!! Get it?

I love Reality TV & I am trying really hard to be a REALITY priced REALTOR®

Thinking of buying or selling in the Shuswap please call me!
I am always ready to go to work for you! 1.800.582.8639

Karen Singbeil
RE/MAX at Mara Lake

LIST4U & SELLM2 (my plates)

Early morning: lurky, foggy, a little thick & a bit dense (pretty much describes me) NO silly outside. Does that make sense? It has been nice the last few weeks & the snow is nearly gone in Sicamous 10C for the high during the days. Do I need to keep translating for my American family and friends? K, about 50F.

Anyway I have had a KILLER year and fantastic month so far. All my deals I have been working on endlessly finally ALL came together! Oh the sweet sounds of success kinda like domino's falling when they hit eachother OR the sounds of Vegas slots ringing endlessly...it was JOYFUL indeed!

Last night I watched the US Prez 2nd press conference and I am going to say this AGAIN! I don't see what throwing masses of money at this problem is going to solve? (read below a few and see my last great idea).
I see from the approval polls about 40% of the people SEE what I SEE!

I did notice Obama let some of the more "unconventional" news people ask him questions (even that 1 lady was shocked she got to ask a ?) and then Ebony (since I am an American & live in a foreign country I feel I can translate this best for my Canadian friends ) that is a more black magazine publication something I doubt GWB would of done. He even let the ABC lady ask him about Race? Really?? We are talking about that still? I agree with him it was a great moment for our country 1 DAY now get over it. We are ALL so proud but let's don't glout in us really being able to put on our big boy pants finally, k? Fox news played nice too WOW...talk about out of your comfort zone. And do you notice how respectful they all are when they ask their questions?
WELL they better cuz if they weren't I guess he could NOT play nice and kick a little sand in their faces. He is the President OR he could just toss them permanently. I guess from anywhere he wanted....POWER gotta love it!

Oh gotta jump subjects for a second I just thought of something. My 14 yr old told my husband & I last week, he thought it would be great if he could be the President of the US & the Prime Minister of Canada. Oh wait it gets better...ALL AT THE SAME TIME!!! hahaha....Is this my kid? Who the heck would want to do that? I would say someone who needs medical attention immediatley. LOL-*grin*
Really hated to tell him it is NOT possible. At least Not at the same time!
I love goal setting and at least he is aiming high!! Love you Hunter ;)

Enough politics for today. I must go finish some work i.e. e-mails, twitter a tweep , update my Facebook, run off to FAXland like Candy land but big people games, you know same ole, same ole. Wouldn't people from another world think we are all nuts?
We are but I am trying to keep it REAL!

As always I am able to help you in buying or selling Real Estate in the Shuswap!
Rememeber if you price it right for the market we are in I promise it WILL Sell!

Have a good one I plan too!

Karen Singbeil
RE/MAX at Mara Lake

LIST4U & SELLM2 (my plates)