A day in the life of a Kelowna REALTOR®

This blog is about me, Paige Guernsey, and the things that happen around my job as a Kelowna Real Estate agent with Coldwell Banker Horizon Realty. I talk about listings, sales activity, market conditions, market trends, promotions, green real estate, and sometimes funny things that happen to me during the course of my day. There's links and videos to great information as well as access to my 2 websites, kelownahome.com and greenkelownarealestate.com

It’s going to be a great 2011 for Kelowna real estate

Posted by on December 31, 2010 | No Comments

This past 3 weeks is probably one of the busiest real estate “holidays” I’ve ever had. The phones were ringing and people were on the move.  Most of those buying or selling have all the same reasons as in years past with a few exceptions:  Most feel that real estate prices are at their lowest and most feel that interest rates will slowly but surely go up in the next year. 

Canadian Mortgage and Housing Corporation has released their stats and confirmed what we already know… Kelowna is a hot commodity!  Most notably, CMHC says that employment opportunities will increase in 2011. Thinking of an investment? Rents are expected to increase with inflation in 2011 and on top of this our vacancy rate is expected to go down from an already low level of 3.4%. Increasing enrollment at UBC Okanagan will bring jobs and parents with children who need a place to live (did I mention investment opportunity?).  Kelowna General Hospital’s expansion will be complete and bring more jobs and people looking for housing.  There are even some new housing projects going to be started in 2011.  I predict a stellar year ahead. Be safe and take care.

Happy New Years everyone!

Talk to you soon…

Paige

 

Filed Under: Uncategorized

The back up offer takes it!

Posted by on December 14, 2010 | No Comments

In my last blog I wrote about what buyers felt was a “good deal”. In that particular case, the buyers and sellers both compromised and an agreement was made. The interesting thing about this piece of Kelowna real estate is that there was already an offer in place when this second agreement came in!  This second offer triggered a time clause notification to the buyers with an offer already in place. 

The first buyers who we’ll call Ted and Aly, made an offer a month ago subject to them being able to sell their home in South East Kelowna.  If another buyer came with an offer, the sellers who we’ll call Alec and Kristy had the option of asking that Ted and Aly remove all their subjects.  When the time clause was triggered by this second offer Ted and Aly had some soul searching to do.  Did they want to run the risk of owning 2 peices of real estate for an indeterminate amount of time?

In the end Ted and Aly decided that they would not remove all their subjects and the second offer became firm.  Those buyers, Bill and Clare were ecstatic and Alec and Kristy are now homeless come the end of January!  Their story is one for another blog… they can’t decide if they’re going to actively pursue buying now or rent and see what the market is like in the spring.

Talk to you soon…

Paige

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Filed Under: Kelowna Real Estate

 

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