Kelowna housing (huge surplus of homes)

Housing Market, Rental Listings, Stats & Advice
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momofed
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Location: Calgary AB

Kelowna housing (huge surplus of homes)

Post by momofed » Sun Aug 10, 2008 12:09 am

7th July 2008 14:21

Hello all,

New to the board.

We are likely moving to Kelowna in the next few months from Calgary. We know the areas quite well, and have a few questions (that realtors cannot seem to answer).

1. Upper Mission or Dilworth? (which would be a better investment)
2. Why are there so many homes for sale right now?

Thanks



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Bleech
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Location: Bristol, England to Kelowna

Re: Kelowna housing (huge surplus of homes)

Post by Bleech » Sun Aug 10, 2008 12:09 am

7th July 2008 15:20

A lot depends really on what you want. Are you looking for close proximity to town, friendly neighbourhoods, lake, mountain or city views, quiet streets? Have you considered other areas like Westside or Black and Knox mountain?
I'm an Upper Mission boy myself and wouldnt swap it for any other area of town, but everyone's got their own personal opinions or have other priorities. Example, getting into town from the Mission can be a bit of a mare at rush hour as there's only one road out, Dullworth's close to town but (IMHO) is about as exciting as watching The Royal Canadian Airfarce on repeat 10000 times.
People are still making lots of money on our street from selling houses, wether it'll last or not I'm not sure.



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momofed
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Re: Kelowna housing (huge surplus of homes)

Post by momofed » Sun Aug 10, 2008 12:09 am

8th July 2008 15:24

We like Upper Mission for the views, proximity to beaches and young families. Like Dilworth for the proximity to amenities and my husbands (potential) job.
There just seems to be SO MANY homes for sale in Upper Mission. Our friends place is for sale (it is gorgeous), and they have only had 1 showing in 1 month. Their realtor says the market is really dead right now, as there are no buyers looking at all. There home is in a desireable price range, but still no lookers. So we wonder if, in the long term, Dilworth is a better buy (mainly because of the proximity to amentities).

My hubby likes to bike to work, so the Westside is out, as is Black/Knox mountain.



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gotowngo
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Location: Huddersfield, England

Re: Kelowna housing (huge surplus of homes)

Post by gotowngo » Sun Aug 10, 2008 12:10 am

8th July 2008 16:06

Come on momofed, do the decent thing and promote your friends house, sounds great and some of us here are looking you know :flowers



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momofed
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Location: Calgary AB

Re: Kelowna housing (huge surplus of homes)

Post by momofed » Sun Aug 10, 2008 12:11 am

8th July 2008 20:34

LOL! Ok ok...here is the MLS no. 9195440

BTW, I can't get over how many people on the board are from th UK!
Interesting.....



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nikks2
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Location: Hoylake, England > Kelowna

Re: Kelowna housing (huge surplus of homes)

Post by nikks2 » Sun Aug 10, 2008 12:11 am

8th July 2008 22:01

We live in Lower Mission and really like it here.



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snowghost
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Re: Kelowna housing (huge surplus of homes)

Post by snowghost » Sun Aug 10, 2008 12:11 am

9th July 2008 09:20

Its a "buyers market" now - so its actually good news for you if you are planning on buying a home as there are deals to be had... The market is not crashing just levelling out a bit, hopefully people won't be so greedy round here- I mean some folks around here buy a house and then try and flip it a few months later ! We had a similar slump a year or two ago then things picked up again...once the school is built up here and once a bit more progress happens with Kelowna mountain ( just a big sandbox at the moment) things will pick up again.



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Bleech
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Re: Kelowna housing (huge surplus of homes)

Post by Bleech » Sun Aug 10, 2008 12:12 am

9th July 2008 10:15

3 houses have sold for a shed load within the last month on our street, all flips. So there is still money to be made out there.
Also worth remembering that most the Okanagan real estate moves in Spring, the other months are always quiet. Pretty sure like Snowghost says though that the market will flatten out a bit.



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momofed
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Re: Kelowna housing (huge surplus of homes)

Post by momofed » Sun Aug 10, 2008 12:13 am

9th July 2008 14:26

Is Kelowna Mountain actually going to happen?



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Bleech
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Location: Bristol, England to Kelowna

Re: Kelowna housing (huge surplus of homes)

Post by Bleech » Sun Aug 10, 2008 12:13 am

9th July 2008 14:47

I hope so otherwise they've got one hell of a mess to clear up
Work started last year, it looks terrible at the moment, but I expect something nice will come out of it eventually



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