1) Prices are stable here in Kelowna, and will increase over the next 3 years as our inventory decreases.
This is great news for homebuyers as we see home equity grow again!
2) Mortgages are still at an all time low.
The 10 year term rates are somewhere around 4.5% which helps to create stability in the market place. Most of these mortagages are portable so as you move ahead over the next 10 years you can port it with you.
Our mortgage brokers caution us to move forward now if you are thinking of buying revenue properties. Rumour has it that come January 2014, the Government of Canada will be making it more difficult to purchase with a line of credit.
There are some great buys out there from Condos to Castles.
Call me today to set up a free consultation.
Helping my community, and it's families to move forward since 1983!