October Newsletter Comment....

You must welcome change as the rule but not as your ruler. Denis Waitley

When we examine the stats for October of 2011, if there is anything significant about the Real Estate market in the Okanagan /Shuswap, it is that there is nothing significant about it. Sales are constant. Prices are fairly constant. Absorption is fairly constant. Interest rates are fairly constant. From my perspective the reason is obvious. There is no one force that single handily changes the market, there are multiple forces pulling in all different directions which all add up to create a final force that moves the yard sticks. Right now, there are very positive forces in Canada that are pushing our market in a positive direction; low interest rates, a strong dollar, strong banking systems, the recovery of oil prices etc. However, there are other forces that are pushing our market to the negative; US Real estate and debt crisis, European debt crisis, global recession etc. The result can be summed up as basically zero. What that means is our market will likely stay steady and constant for a while. This is a prediction of CMHC and the banking experts across the country; however, if there is anything that is always the same, it is that nothing ever stays the same for long. So it begs the question, "If it is inevitable that the Local Real Estate Market will eventually begin to change in the relatively near future, which way will it go?" If you believe that history repeats itself, it will go up. Our graphs and charts told us we would have a boom beginning in 2003. They told us that we would have a bust in 2008. By the size of the boom they told us that the bust would be a long one and it was. Now they are telling us that we will have a recovery. That recovery will show itself in the next 2 years. It will start out very slowly just like it did in 2002 and 2003 and gradually build from there. Once again that adds up to a "Good Time to Buy!

Bill Hubbard

Bill Hubbard

CENTURY 21 Executives Realty Ltd.
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