Bruce Stone Says The Market is Shifting

I had lunch today with our Dad, Bruce Stone, who sold Real Estate in Kelowna from 1978 through to 1999 (now he's in the factoring business as well as giving his daughters advice). We were discussing the number of offers we have had on our listings lately and that several of our sellers have not accepted the offers. Dad said that tends to be the first indicator of a market that is improving. It may be that sellers are thinking (and I would agree) that things have hit bottom and that Spring should see an increase in activity (and perhaps an upward trend on prices?)
Of course only time will tell, but it's always good to hear the opinion of someone with such experience.

If we can help you with any real estate needs or questions, please give us a call or email.

Tamara Stone
www.stonesisters.com

Amberhill Townhomes ready for Dec 15th

Amberhill townhomes in award winning Kettle Valley will be ready for completion December 15th. These 3 bedroom,3 bathroom homes are excellent value starting at $369,900.
We will have the next phase ready in the Spring where there is still time to choose your colors. Email us if you would like a brochure sent to you info@stonesisters.com

Prime Ministers Wife in Kelowna

We were fortunate enough to attend a recent event in Kelowna called Canada's Leading Ladies. Jean Pare the author of the Company's Coming Cookbooks spoke and so did Laureen Harper. Mrs. Harper in particular was very warm and approachable - she shared some funny stories with us that helped show who she is as a women: coming from a small town in Alberta and now the wife of Canada's Prime Minister

The money raised went towards two valuable groups: The Women's Enterprise Centre and the Kelowna Women's Shelter.

It was a wonderful event to have in Kelowna.

To Stay Listed or To Take a Rest?

At this time of year typically Sellers ask the question about how long to let the listing continue for. Our advice is: Keep It For Sale! We are seeing a lot of listings expire right now with many people deciding to wait until Spring. However the Buyers are still out looking. As an example, so far today there have been only 14 single family homes come on the market (in the Spring and early fall that number is often in the 40 - 50 range). And there were 10 single family homes sold that were posted today. With less competition on the market, and increasing interest rates... now is a good time to sell.

If we can help with any of your real estate needs, please visit us at www.stonesisters.com

Tamara & Shannon Stone

John Antle of TD Canada Trust Says...

We met with John Antle of TD Canada Trust today and got his opinions about the Kelowna Real Estate market. John has been in the financial services business for about 8 years and it was interesting to get his perspective. He says that first time home purchases have increased dramatically since March. Interest rates are still at all time lows -however lenders outside TD Canada Trust have indicated that closed rates are going to increase. If you are sitting on the fence, it's a great idea to get pre-approved and at least lock into these low rates (TD will hold a rate for 120 days). For more information call John Antle at 250.212.8512 or visit him online at www.johnantle.ca

Tamara & Shannon Stone
REMAX Kelowna
www.stonesisters.com
info@stonesisters.com
250.878.0773

Social Networking

Shannon and I went to a phenomenal presentation today on Social Networking. ReMax Kelowna and ReMax Vernon brought the speaker in, Brad Hanks from Denver, CO.(www.connectingpeoplewith success.com)and we learned a tonne! He talked about the power of websites like Facebook, Twitter, Linked In amongst others. Experts predict that email use will drop 50% within the next 5 years as more and more people are using these social websites as ways to keep in touch. The presentation started with a You Tube video called "Did You Know" (2009 version) which is absolutely shocking. We have several social networking sites... but obviously need to become much more active and involved in them. I took a lot of notes and if you'd like us to email those to you, please just let us know.

As always, if you need any information on Kelowna Real Estate, we're happy to help!

Cheers
Tamara & Shannon

Calgary Real Estate Market back on track - time to move to Kelowna!

Calgary metro home prices made the first year-over-year increase on a
monthly basis since February 2008 according to figures
released by the Calgary Real Estate Board (CREB).

The average price of a single family Calgary metro home
in August 2009 was $454,130, showing an increase of
4 per cent from July 2009, when the average price was
$436,782, and showing an increase of 3 percent from
August 2008, when the average price was $440,625.
The average price of a Calgary metro condominium was
$283,330 showing a 1 per cent decrease from July 2009,
when the average price was $285,032 and a decrease
of 2 per cent over last year, when the average price was
$287,832.

We might see a gradual edging up in average prices come
this fall, but on the whole, prices will most likely remain
relatively stable. With our inventory at just under a four
month supply, the market continues to be in balance,”
says Bonnie Wegerich, President of the Calgary Real
Estate Board.

“We are seeing an upward revision of our housing market
forecasts at the National level,” says Wegerich. “I think
it is fair to say the recovery in the market has been a little
brisker then first expected – and all signs indicate the
rebound, all be it gradual, will have some longevity.”
“All in all we are optimistic about the fall market. Low
mortgage rates, government incentives and realistic
pricing on the part of sellers are contributing to healthy
sales numbers – as is the recent boost in consumer
confidence on news that the worst of the economic
slowdown is over,” says Wegerich.

Supplied by:
Judy Cunningham
RE/MAX Real Estate Mountainview

judy@judycunningham.ca