Morgan: Affordable housing opportunities created in Kelowna

With inventory remaining high, home buyers have the luxury of taking their time to sift through Kelowna properties.

Today’s Okanagan real estate market continues to remain in the buyer’s spectrum. With inventory remaining high, home buyers have the luxury of taking their time to sift through the properties without fear of a multiple offer scenario.

However, Okanagan buyers are not the only ones who have caught wind of the saturated Okanagan real estate market. It was reported by Canada Real Estate Wealth Magazine that Kelowna North has made the top 100 list of best places to invest in real estate.

A total of 20 B.C. neighbourhoods made this exclusive list, compiled from extensive industry analysis and statistics including population, average home price, capital growth and vacancy rate.

While Canada battles back in our economy, the U.S. has recently experienced an upward trend in property sales, reflecting the largest quarterly gain since 2006.

“There are definitely still great deals out there but our market has seen major improvements and well under way to recovery,” said  Arizona real estate agent Griffen Hall.

Arizona remains one of the hottest real estate markets in the U.S. for Canadian investors, but just for how long? Recent statistics reflect an average house price has increased 11.5 per cent since January and 2013’s real estate forecast for the United States is promising for a stabilization in sale prices.

Perhaps the days of investing in the real estate market down south has dissipated and the new day of putting our local money back into Okanagan real estate investment properties has arrived.

The basic of investing/purchasing in real estate still remains the same. Number one rule of this venture is location, location, location;  the second rule is to get the best return on your investment, buy low—sell high; and finally know your budget and take the time to consult with a local real estate agent for market trends and property price comparisons.

Kelowna remains to be a desired place to both retire or raise a family, but investing in our housing market is clearly becoming more popular not just for locals in the Okanagan but for Canadian buyers from coast to coast.

The real estate economy in the Okanagan is remaining as a buyer’s market, but as the U.S. real estate is slowing changing should we be asking ourselves is Canada’s turn finally next?

Just Posted

Kelowna chamber doesn’t like new payroll health tax

New tax will help government make up loss of revenue from elimination of MSP premiums

New proposal suggested for Gable Beach

District of Lake Country staff’s new recommendations will be presented March 6

Overnight chill falls short of Feb. 21 records

Icy temperatures across the Okanagan-Shuswap don’t beat lows set in 1910, 1894

RCMP continue investigation into missing Sun Peaks man

Ryan Shtuka disappeared after leaving the village of Sun Peaks on Feb. 17

Friends of late Kelowna ‘boarder raising money for charity

Friends and family of a young man who died in snowboarding accident gives back to the sport

VIDEO: Top 10 B.C. budget highlights

The NDP is focusing on childcare, affordable housing and speeding up the elimination of MSP premiums

How to keep local news visible in your Facebook feed

Facebook has changed the news feed to emphasize personal connections. You might see less news.

BC Wine Institute to take legal action against Alberta

The BC Wine Institute to seek injunction to protect B.C. wineries from Alberta wine ban

Kamloops couple assaulted in their home

RCMP are asking for the public’s assistance in solving this crime

BC BUDGET: Tobacco tax hike may light up black market in smokes

NDP government adds another 56 cents per pack as of April 1

4 treatment centres to open in memory of B.C. teen who died of an overdose

A treatment centre for addictions is opening in Penticton after the first one fell through

South Okanagan front line workers say comments add insult to tragedy

Workers entrenched in addictions want people to see the humans behind the addictions

DeHart: Ride-along in Dragoons’ armoured vehicle

Kelowna hotelier Maxine DeHart’s weekly business column

Driver rescued down 90-foot embankment along Coquihalla

Rope rescue conducted on mutual-aid call with Chilliwack SAR, Hope SAR and Agassiz fire department

Most Read