I have experienced a lot of buyers in Alberta, Northern BC, Saskatchewan and Manitoba who still think that Kelowna is so expensive, yet you can find a great WATERFRONT resort style condominium in premium downtown Kelowna with the possibility of a boat slip in the low $400’s! How about renting out these condo’s short term for $1,400-$1,600 per week in the Summer and the same amount per month in the off season? Especially the recreational market in the Okanagan has been hit hard due to the fierce competition of homes in Arizona and Nevada and the almost abundance of new resort style properties that has been built outside the Okanagan region.
The increasing value of the US dollar, bottom low mortgage rates and the improved economy in the Okanagan is turning around this depressing (recreational) market. My opinion is that between now and the end of 2015 the best opportunities will occur to get into the Okanagan real estate market.
Buyers, the time is now to get off the fence, you will be surprised, as many of my Prairie friends, what a great property deals are out here in Kelowna.
Please don’t hesitate to contact me if you would like to know more about the opportunity to buy and live in our beautiful Okanagan Valley.