Kelowna Foreclosures - Are they a Good Deal?

A sign of the times is an increase in the amount of properties that are being foreclosed on. There is a perception out there that foreclosures are a screaming deal and we have a number of buyers who ask us to find them a great bargain.

We do sometimes see a property get listed as a foreclosure at a below market price. However by the time the accepted offer goes to court, there can be (and usually are) multiple bids and the home often sells above it's original asking price. Sometimes considerably far higher than even the list price.

The court system has a duty to sell the home for the highest price possible, and with multiple bids on a single property - the price rapidly climbs.

There are some great deals out there... but foreclosure properties aren't always the deal one would expect.

We'd love to help you find a great deal... please call or email us for a list of the best buys on the Kelowna real estate market.

Tamara & Shannon Stone
www.stonesisters.com

REMAX Kelowna

The Tourists Are Here!

Well we are off to a busy start to the summer season here in Kelowna. We usually see an increase in the number of out of town visitors here to look at Real Estate. This week alone we have had people from Prince George, Red Deer, Calgary and England. The word has gotten out that our prices have come down and that Kelowna is affordable! As an example: a newer 4 bedroom home just sold in Kettle Valley last week for $400,000! There are some great buys out there and the saavy buyer is picking them up. If we can help you or someone you know find a great deal here in Kelowna, just let us know!

Tamara & Shannon Stone
www.stonesisters.com

Calgary Road Show!

The Stone Sisters are heading off on another roadshow this month to promote our listings. This next trip is to Calgary, Alberta where we will be meeting with Realtors in the top offices as well as interested members of the public. This is a fantastic opportunity to market the homes in Kelowna that we are selling as well as the area itself. Calgary is one of several cities that we do our roadshows in and it's always a great success and a lot of fun. If you would like more information about this roadshow, or any information on Kelowna real estate, please give us an email or call.

Tamara & Shannon Stone
www.stonesisters.com
REMAX Kelowna

A Great Kelowna Lawyer

We had lunch today with a knowledgeable Kelowna lawyer: Peter Borszcz of Doak Shirreff has been practicing law for several years. Peter comes into our RE/MAX Kelowna office and does presentations from time to time. Last week he spoke about the Affordable Housing Initiative and how people can qualify to buy designated "affordable" homes in Kelowna. The link to his presentation can be found on our website at www.stoneteam.com under News Articles.

It's great to see that sales have picked up dramatically and we are expecting to see some impressive statistics to come out this week from Okanagan Mainline Real Estate Board. We will post them on our website once they come out.

Tamara & Shannon Stone
www.stoneteam.com
REMAX Kelowna
250.878.0773

Busy Easter Weekend

What an incredibly busy Easter weekend we have had! We have had 4 groups of out of town buyers come in this weekend and we are working hard to help them find the ideal property. Two of the groups have made offers and we are in the midst of some serious negotiating. Earlier today we spoke with George Wilson who is a Realtor with Macdonald Realty here in Kelowna. He feels that the prices are starting to creep up slightly. Not the upper end but he said that he's been carefully watching the sales numbers and that good homes in the $450 to $550k price range are becoming rarer and rarer. It's interesting to hear and we will certainly watch and keep you posted.

Have a fantastic Easter!

Tamara & Shannon Stone
www.stoneteam.com
REMAX Kelowna

The Sales are Happening

We had our weekly Tuesday meeting and tour today and heard some great news! There were 42 accepted offers handed into the REMAX Kelowna office last week alone. Now these may not all go subject free, but it's wonderful to see some sales activity happening. Shannon and I have certainly noticed that things have picked up in the Kelowna real estate market: especially in singe family homes under $500,000. Buyers are realizing that there are some incredible buys out there and they have begun to make offers. Selling prices tend to still be quite a bit lower than asking price (on average we are seeing homes sell for $20,000 to $30,000 less than asking) but it's encouraging to see activity. If you would like details on some of the best buys available, please email or call us.

Tamara Stone
www.stonesisters.com
REMAX KELOWNA

Children's Miracle Network

We work in a wonderful industry and are very proud to be able to give back to our community. The organization Children's Miracle Network is something we both feel very strongly about supporting and we make a donation to them with every home we sell. RE/MAX Kelowna is a miracle office which means that each agent in our company has given a donation to Children's Miracle Network. Shannon and I have given over $11,000 to the cause and other large donaters in our office are Chris Cyca, Chris Ward, Jesse East, Terry Balfour and Sharon Black. At the recent awards breakfast for our office there was a silent auction and our office raised over $17,000 that morning! We are very fortunate to work with such a great group of people who believe so strongly in helping kids.

Tamara Stone
www.stoneteam.com
RE/MAX Kelowna