Posts
Monday, June 13, 2011
Friday, May 27, 2011
I just returned from Mexico where we have completed the purchase of an investment/rental property in the village of Bucerius, north of Puerto Vallarta. This was a positive and educational experience which I would be happy to share with interested investors and I am expanding my business to help Canadians work with my contacts in the Puerto Vallarta area.
Like many Baby Boomers my wife and I were looking at areas where we could spend an increasing portion of the year. Not only to escape the Winter but this year most of the Spring as well. We considered Arizona but while the price is write we did not like the politics or the lifestyle. We had holidayed on the West coast of Mexico for the last 10 years, love the people, the culture and being close to the ocean.
Your choice of a property to purchase will probably differ from one where you holiday as the requirements for extended stays are different than a 2 week vacation. There are a number of factors you will need to take into consideration here.
Further blogs on travel, the economy, the land title process and life in a sunny climate!
Like many Baby Boomers my wife and I were looking at areas where we could spend an increasing portion of the year. Not only to escape the Winter but this year most of the Spring as well. We considered Arizona but while the price is write we did not like the politics or the lifestyle. We had holidayed on the West coast of Mexico for the last 10 years, love the people, the culture and being close to the ocean.
Your choice of a property to purchase will probably differ from one where you holiday as the requirements for extended stays are different than a 2 week vacation. There are a number of factors you will need to take into consideration here.
Further blogs on travel, the economy, the land title process and life in a sunny climate!
Thursday, April 7, 2011
Monday, March 28, 2011
MARKET UPDATE:
Long time since a post as things have been fairly quite in the Southern Okanagan. We always try to put our best face forward here but the "Great Recession" has clearly taken the wind out of our sails. Locally, a debate rages about trying to attract a new Prison that the government wants to locate somewhere in the Okanagan Valley. While some feel it conflicts with the image of Wine Tourism carefully crafted over many years, others point to the economy and the need for jobs.
The Real Estate market continues to take a hit with buyers out of Alberta focused on the Southern US of A because of the significant post recession price slump. However, more and more articles appear warning buyers of US property of the regulations associated with such purchases.
As our weather tips towards Spring more out of towners are recognizing a clear "Buyers Market" with all the advantages of "being Okanagan" becoming obvious again. The Vancouver market is definately hot with Mainland Chinese money coming into play and so we want to entice some of those 'new purchase' dollars up here.
As many will acknowledge it is still the question of; "what are the Boomers doing?" As an excited Boomer myself I have recognized for 10 years that whatever I am thinking in terms of investment is being thought of by 75% of the population! So I have flirted with buying property in Arizona, seriously contemplating Mexico and looking at reorganizing my personal wealth plan by selling a shared condo investment in Vancouver. Typical? Well, just maybe.
All said and done though, the Okanagan still holds a mystic as a safe, appealing lifestyle investment and with the price point now much more realistic on properties throughout the market, people will return to look seriously at an investment opportunity.
Long time since a post as things have been fairly quite in the Southern Okanagan. We always try to put our best face forward here but the "Great Recession" has clearly taken the wind out of our sails. Locally, a debate rages about trying to attract a new Prison that the government wants to locate somewhere in the Okanagan Valley. While some feel it conflicts with the image of Wine Tourism carefully crafted over many years, others point to the economy and the need for jobs.
The Real Estate market continues to take a hit with buyers out of Alberta focused on the Southern US of A because of the significant post recession price slump. However, more and more articles appear warning buyers of US property of the regulations associated with such purchases.
As our weather tips towards Spring more out of towners are recognizing a clear "Buyers Market" with all the advantages of "being Okanagan" becoming obvious again. The Vancouver market is definately hot with Mainland Chinese money coming into play and so we want to entice some of those 'new purchase' dollars up here.
As many will acknowledge it is still the question of; "what are the Boomers doing?" As an excited Boomer myself I have recognized for 10 years that whatever I am thinking in terms of investment is being thought of by 75% of the population! So I have flirted with buying property in Arizona, seriously contemplating Mexico and looking at reorganizing my personal wealth plan by selling a shared condo investment in Vancouver. Typical? Well, just maybe.
All said and done though, the Okanagan still holds a mystic as a safe, appealing lifestyle investment and with the price point now much more realistic on properties throughout the market, people will return to look seriously at an investment opportunity.
Monday, November 1, 2010
How To Protect Yourself
http://money.ca.msn.com/banking/homebuyersguide/article.aspx?cp-documentid=26127042
Interesting article here for my anyone with Real Estate investments to read. Realtors hate the 'negative' news but reality suggests we had better be advising our clients on news form all different sources.
Also posted on my Facebook site.
Interesting article here for my anyone with Real Estate investments to read. Realtors hate the 'negative' news but reality suggests we had better be advising our clients on news form all different sources.
Also posted on my Facebook site.
Saturday, September 4, 2010
NO BUBBLE HERE!
ReMax Kelowna's Cliff Shillington reacts to the report from the Canadian Centre for Policy Alternatives recently by say their warning of a housing bubble does not relate to the Kelowna area.
I have to agree.
Cliff points out that for such a situation to occur you need, "rapidly rising prices meeting a big increase in mortgage interest rates forcing people to sell and prices to drop in all the freefall activity". Clearly, as he suggests, we do not have any of that in the Okanagan.
Prices have remained steady over the last two years and it is expected that interest rates will stay near their historic lows and the real estate market will remain flat.
This is one of the best reads of the situation I have read so far!
I have to agree.
Cliff points out that for such a situation to occur you need, "rapidly rising prices meeting a big increase in mortgage interest rates forcing people to sell and prices to drop in all the freefall activity". Clearly, as he suggests, we do not have any of that in the Okanagan.
Prices have remained steady over the last two years and it is expected that interest rates will stay near their historic lows and the real estate market will remain flat.
This is one of the best reads of the situation I have read so far!
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