Thursday, February 17, 2011

Okanagan Mainline Real Estate Board (OMREB) Media release and Stats for January 2011.


“As overall demand improves along with better economic and employment conditions, we expect to see more
market stability and normalization during the first quarter of 2011 with sales trending upwards before revised
lending criteria tightens the cost and availability of credit,” says Brenda Moshansky, OMREB President and
REALTOR® in the Central Zone. “All markets can expect to see an increase in listings in the next few months as
sellers decide to put their homes on the market moving into Spring and, thereby, widening the choice for buyers.
Consumers who have been sitting on the fence should be encouraged to make a move while 35‐year mortgages
and record low mortgage rates are still available as the Federal Government will shorten amortization periods to
30 years and reduce maximum refinancing to 85% on March 18
, and interest rates are forecast to go up during
the latter half of this year. Plenty of choice, attractive home prices, and low mortgage rates continue to provide
the best incentive to buy now rather than later when prices will begin to trend higher and interest rates increase.”

“Pricing continues to be important when selling your home, so working with a real estate professional
to understand current local market conditions and to provide comparisons specific to your neighbourhood is
essential as home values vary based on property type and location.”

Trever Florko, REALTOR
Century 21 Assurance Realty (Kelowna)
Cell: (250) 859-5990
Office: (250) 869-0101
Fax: (250) 869-0105
Visit my website:

PS. Your referrals to friends and family are always greatly appreciated and rewarded.

Posted via email from treverflorko's posterous

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