I have heard that as long as it does not happen all at once! I must admit, though, that last year, it seemed that everything happened at once. A challenging year to say the least, and the truth is that in 2006, how it feels to leave in a very similar vein!
The real estate markets in the Okanagan are still struggling with a small amount of stock for sale and insatiable amounts of interest from customers in areas of product offerings. I would not be surprisedsee another record year in the Okanagan, while Canadian real estate is a softer outlook for the full year.
Next month we'll show you some details on Lake Shore property. There is a market segment, some already in the stratosphere somewhere cheap, but for consumers of Lake Shore is still a good value for money. We will try to give you an overview of thinking and help you understand how to influence the rest of the marketPlace.
In view of the expected interest rate increases this year did not slow down the enthusiasm too. Can be used for the amount of people moving on the local market to reduce, even if the equity in their current property to the point where they can feel more comfortable built to do the move. The big news continues from the city market. I am personally with investors in California, Arizona and the United Kingdom, looking at the Okanagan very carefully and havealready determined that they want to be in this market. The question is, what segment, and many do for their investments.
This type of investment can be a major export program for the region. While bringing in dollars from somewhere else, and offers a pressure "perceived" to local governments to do, the truth is that often causes a 'shadow' of the population that a small burden for services such as treatment of wastewater is provided, and haswaste collection, although this may be a net benefit to the community, a community and may also lead to roads with a large majority of absentee landlords is thus the real challenge for the Okanagan community, in order to manage growth, ie the conservation values of the whole community.
A segment of the market, the survey shows a fair amount of available housing sector, the hill slopes. Current Specials at Big White, for example, give a good doseChoice for the potential investor. Even if some of you think a condo at Big White, I think it is a natural development in the sales cycle. Typically many of the leading housing programs are sold on a "cash back" among the buyers in flood gates on a program of pre-sales. However, the harsh reality that the number of units that are not cash-flow positive.
After the sales program is complete, customers will often be found that the devices are far from the cash flowpositive, can not reach the projected net returns, which are often required to sell their stock. Since those used in the process of hiring management companies are marketing the equipment and generally 3-4 years in the program to achieve stable employment with predictable cash flows, not positive, but still a good investment for the investor right . The problem often feel out of buying the apartment for the wrong reasons, rent a pro-forma, without further research andUnderstand that the real upside for the purchase of condominium. It should be noted also that the season at the ski hill ski slopes stock "oversized" in the initial phase of the requirements for the requirements for operators of the ski hill that looks to have enough beds to cope with peak demand, but naturally soft cast total. This situation is self-inventory correction in the short term and a ski hill will become more popular as we head intoProvincial Winter Olympic program in 2010! The recent successful introduction of a new subdivision in Mt Baldy in Oliver shows the depth of the market in this segment.
We'll see what the report OMREB Board statistics with regard to positive figures in January very soon, a reality that is certain is that there is still excess demand for high quality and lake with lake view apartments, with rental management programs. While a few new programs are on the horizon for Lake House2006 2004/2005, are successes in the construction and will surely be no doubt that a healthy market begin to re-sale, mature in the near future, he begins to see. Currently, there is a waiting list of people in my office looking for in the upcoming launch of a new draft Okanagan. Although there is not much basis for the year 2006 projects, some projects will certainly intervene in a planning phase and I think that in 2007, see start to see some of the most interesting developments in the Okanaganyet. With current values to be where I am, I would expect that a larger inventory of homes fractional occur here and may have an increasing amount of interest in the "Private Residence Club" or "Private Equity Club" concept developed for the individual rich pretty good second homes and now is just lust in service and quality. I'll devote a column of this type of property in the spring and provide examples of success in other regions.
Add toa market already nervous to boost BC economy and a new federal Conservative government to offer to stimulate the economy with tax cuts and a final deferment of capital gains, and they play very well in the hands of real estate investors and increases the amount of speculative investment in the region. If the Conservatives implemented the tax change, I would expect to see a major shift of funds from RRSP programs in Real Estate Investment Programsto restore the rates even higher in the region.
Three other areas I would like to explore the gaps in the future are:
1. "Senior Living", an area that I think will accelerate in the near future, niche with some unique concepts.
2. Manufactured housing, an alternative that the concerns that arise around construction time and quality, like all predictions of labor shortages in the western provinces, some of which have already experienced, and could facilitateFinally
3. invest in offshore real estate, where profits are made in your wallet Kelowna, go! Watch this space.
What is certain that we are in one of the most exciting in the world, a beautiful area, with high quality services, principles of planning and care of life's most populous. Remember, the reason why people like it here because of what we have. We must care for the "goose that lays the golden eggs!"
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