When people are comfortable be worried. When people are worried, be greedy”. These words are from Warren Buffett who is currently the wealthiest person in the US. It is the classic buy low and sell high. Is it a good time to buy real estate in Kelowna? In a word, YES! We are in the most obvious buyers market right now so it makes little sense to wait. A house that would have sold for $575,000 this time last year you can get for $499,000. I’ve heard people say that they are waiting for the market to bottom out. My question to them is….how will you know? By the time you realize that the market has bottomed out its too late. With historically low rates and lots of inventory to choose from…this is a perfect time to buy your first home, purchase an investment property or step up to something larger.
Thanks,
Brad Lohmeier
Mobile Mortgage Specialist
TD Canada Trust
Monday, November 17, 2008
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