Monday, November 8, 2010

West Kelowna Real Estate - Market Update from my E-Connection Newsletter

I had a great chat with another Realtor friend in Langley the other morning.  He is quite busy right now working with clients wanting to take advantage of upgrading to a more expensive home (let’s say you want to buy a home that’s worth $100,000 more than the current home you are in) in the current down market.  If you are thinking of exactly this, there couldn’t be a better time.

A lot of buyers out there are sitting on the fence and waiting to decide if prices will go down even further.  In my opinion they may, but the other unknown factor is interest rates; what are they going to do?  If house prices fall slightly, interest rates could very well increase.  Interest rates certainly can’t come down much more; so, I personally consider this a wash.  Don’t be one of many who wake up regretting not getting into the market when they had a chance.

The only time the bottom of the market is realized is when it’s too late, as prices are already on the way up again.   Gone are the days of buying and flipping.   If you are planning on making a purchase and staying in your home (which more people are these days) it’s irrelevant if values decrease slightly.  Like I said, in my opinion you cannot go wrong making a purchasing now.

Click here to see my full E-Connection Newsletter.   If you would like to receive these every 6 weeks please send me an email and I will add you to my distribution list.

Karen Guy, REALTOR® I am the GUY that will make a difference! Coldwell Banker Horizon Realty C 250.878.3605 O 250.768.8001

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Kelowna Real Estate Agent West Kelowna Karen Guy Realtor