Tuesday, 1 May 2012

Kelowna Real Estate Update May 2012

Hi All,

The weather has been taking its time to warm up in Kelowna this spring, and as a result I only saw my first Hummingbird last week.  I am pleased to say, however, that the Kelowna Real Estate Market is beginning to simmer.

It is interesting when I read the March OMREB Buyers Survey Results, it is still local and move-up buyers who are leading the market.
As we head towards summer, I expect this to shift, particularly if the government carries out its threat to intervene in the mortgage market again, and as more ‘out of town’ buyers visit the area on vacation and decide to purchase property in the area.

I am continuing to speak to a number of Clients who are looking to purchase Condos and Town Homes close to UBCO before September, for their children attending the University, so if you are thinking of selling this year, call me sooner rather than later to get your property listed.
Also pleasing to hear is that the rental market is beginning to firm up a little, which is particularly welcome news for condo investors

Central Okanagan Real Estate Sales for April 2012


Date

Total

S/Fm

Strata

Lots

Manuf

 Apr-12

334

199

112

13

10
    Mar-12

332

180

116

16

20

Feb -12

277

147

103

13

14

Jan -12

202

113

65

12

12
    Apr-11 
285

160

90
12

23

As you can see, this months sales total is very similar to last month, with an increase in sales of Single Family Homes and a slight fall in Strata, Lots and Manufactured Homes. This could well mean that move up buyers are continuing to take advantage of lower interest rates to move up in the market.

Preparing a Property Prior to a Showing
Over the years much has been written about preparing a property for sale, so I am not going to write about that again, you will be relieved to hear!

I do however want to mention the importance of doing a little preparation, wherever possible prior to a showing.
The reason I say this is that I have visited a number of listings during the last month where the Buyer couldn’t begin to see the potential of a property due to lack of light, as curtains and blinds were drawn, or the property was left untidy. Unfortunately,many Buyers cannot see through this.

The other difficult thing to balance is what to do with pets. Where ever possible it is always best to take pets with you. If this is not possible it is important that they are left somewhere safe in the property and can’t get out as soon as the front door is open. Buyers find it quite distracting when a pet follows them around a home, throughout a showing.

And Finally...
Well that’s it for this month.

I’m looking forward to spending some time on the golf course and enjoying the sunshine in the coming weeks!
For those of you who live locally, don’t forget it is the Annual Quail Ridge Garage Sale on May 12th 2012 between 8 a.m. and 2 p.m. It is one of the biggest garage sales in the valley, where all the neighbours have a garage sale on the same day. People come from miles around.

See you there!!


Kind Regards

Trish Cenci
Tel 250 864 1707
Email trishcenci@shaw.ca

No comments:

Post a Comment