When Is It The Right Time To Buy Vernon Real Estate?

jane-field-vernon-realtor Question: What's up for the Vernon marketplace for 2004?

All signs are pointing towards another banner year.

The multiple listing service reported January sales at a value of $23,332,261. That's up approximately 24.5% from 2003 which showed a value of $18,683,629. Bear in mind 2003 was a fabulous year with record sales which makes this statistic even more exciting.

My own feeling is that we'll rival the 2003 statistics. There is no radical change expected in the mortgage rates, and the current low rates have fueled the markets across Canada.

It is welcome news that several new residential developments are on the horizon for Vernon. I have been concerned that this area loses buyers because we are lacking in new product. We are in need of all price ranges of real estate. Amazingly, we have absorbed the glut of apartment style condos that was so prevalent in the mid and late 1990's. Yes it's time to build more apartments and more adult communities, especially with lakeviews. It's so pleasing to know that Developers are actively putting together new housing and condo projects and pushing ahead with new phases in existing ones.

The bright part of this picture is that if you already own such a piece of real estate or are fortunate enough to be buying one, it should be an excellent investment!

Perhaps you've been hesitating about putting your home on the market because it's a hassle having prospective purchasers view your home. Now is the perfect time to call your realtor. Good listings are selling in a few days, and at improved prices. The Sellers are in the most favourable position. I see no end to this great market in sight.

Back to the start of when is the right time to buy Vernon real estate Download a printable version and read it later.