A Look at the Okanagan Shuswap Real Estate Inventory - March 30, 2009

We've been following the weekly shift in inventory levels for Okanagan and Shuswap Real Estate and posting the most current graph on our Market-Wise Page . Today we thought we'd publish the last couple weeks info together.

Click Here to see Charts

Note the dramatic slowing of inventory growth in the Central Okanagan this past week compared to other weeks. This could be a sign that we are starting to see a shift in the market - we will have to see what the next few weeks bring to see if this is a trend - or just a blip.

The largest increase in growth this week was in Lots listed in the North Okanagan. This is mainly attributed to a large number of lots brought to market via court ordered sale. More details will be published with regard to these lots and other court ordered sale properties this week


Warmest regards,
Brell
Brenda Ellis~REALTOR with OkanaganHeat at Century 21 Executives Realty Ltd.

Who is Saying What about Real Estate & The Economy - March 29, 2009

Here are the links we have found for the past week with regard to real estate and the economy on both sides of the border. You'll see that there is not a lot of regional updates - as we teeter on the end of the month - and most of our sources seem to be waiting to provide statistics as of the end of the month.

Friday night at our Annual Awards Night - our office conveyancer let us know that Friday had been a busy day for deals being turned in - and we look forward to seeing what that plays out like in the next few weeks as subjects get removed (or not!)

The biggest news in local real estate this week was the increase in foreclosure listings. I will be writing a separate post about that after my Open House this after noon - I am sitting in for Team BC up on Tabor Drive - there are 4 C21 Open Houses in this Foothills Neighbourhood between 1 and 3 this afternoon.

Here's what cropped up online this week that snagged our attention:

Regional Canadian Real Estate News
This Week In North Okanagan Real Estate (OkanaganHeat.com)

Red Deer Market March 22 (Century 21 Advantage - Patrick Galesloot)

Home price drop sharpest in Calgary: report (National Post)

Canadian Real Estate News
What's selling? Who's buying? (Globe and Mail)

Canada home prices fall 2.4 pct in January -report (Reuters)

Lenders seek Ottawa's aid as thousands risk losing their homes (Globe and Mail)

Real estate watchdog charges two brokers (The Toronto Star)

CMHC Launches Campaign to Help Homeowners (CNW)

US Real Estate News
U.S. new home sales rise unexpectedly (Globe and Mail)

Century 21 Real Estate First-Time Home Buyer Survey Reveals Increasing Demand Despite Concerns about the Economy -78% Of Potential First-Time Home Buyers Say That Now is a Good Time to Buy (Wall Street Journal)

Economic News
Consumer confidence rises in March (Vancouver Sun)

Canadian Business Optimism Rises from Cyclical Low (CEP News)

B.C. businesses slightly more optimistic: CFIB survey (Vancouver Sun)

Warmest regards,
Brell
Brenda Ellis~REALTOR with OkanaganHeat at Century 21 Executives Realty Ltd.

Who is Saying What about Real Estate & The Economy - March 22, 2009

Some interesting information this week from both sides of the 49th Parallel as we continue to watch and read about what is going on in North American Real Estate and the Economy. Here's this weeks list of links:

Regional Canadian Real Estate News
Tail-end of the B.C. housing tailspin looms (Globe and Mail)

March 14 - 20 in North Okanagan Real Estate (OkanaganHeat.com)

Home Sales Increase in February (BCREA)

Red Deer Real Estate Last Week (Century 21 Advantage - Patrick Galesloot)

Business as Usual in Kitchener Waterloo (Century 21 Home Realty - Jeff Gingerich)

Canadian Real Estate News
Buyers Drawn into Real Estate Market in February (CREA)

Home sales fall 31 per cent (Globe and Mail)

Increases in foreclosure rates create buying opportunities (Globe and Mail)

Canada's dirty subprime secret (Globe and Mail)

There's no secret subprime mortgage problem in Canada (Vancouver Sun)

Real estate: Has spring sprung? (National Post)

Decline in Toronto housing sales and prices slows (Globe and Mail)

Posted Rates Drop to All-time Low (Canadian Mortgage Trends)

US Real Estate News
Home Sales Increase in February (USNews.com)

U.S. home building surges (Globe and Mail)

Absorbsion Rates In St. Paul (StPaulRealEstateBlog.com)

Economic News
Unemployment rate rises (Canada.com)

IMF shifts outlook, expects contraction (Globe and Mail)

Merrill slashes economic forecast (Globe and Mail)

Warmest regards,
Brell ~ Brenda Ellis REALTOR® with OkanaganHeat @ Century 21 Executives Realty Ltd.

March 15 Vernon Open House Map Available

Just a quick note to let you know that you can get the deets on about 60 Open Houses online now.
Vernon Sunday Drive
Hope you have a great Sunday - Feel free to call for any further information on real estate.
Warmest regards,
Brell,
Brenda Ellis REALTOR with Okanagan Heat.com @Century 21 Executives Realty

Who is Saying What about Real Estate and the Economy - March 9, 2009

Here are my picks from this weeks mainstream and online media about Real Estate and the Economy on both sides of the 49th... enjoy! AND.. feel free to bring things like this to my attention so I can feature it here!

Regional Canadian Real Estate News

This Week in North Okanagan Real Estate (OkanaganHeat.com)

February Results for Red Deer Real Estate (Century 21 Patrick Galesloot)

Kitchener/Waterloo Real Estate In February (Century 21 Jeff Gingerich

Vancouver Home Sales Down 45% from a Year Ago (CEP News)

Number of Albertans Planning to Buy a Home Surges (CEP News)

Calgary Housing Market Showing Signs of Stabilization (CEP News)

Montreal Home Sales Down, But Prices Continue to Rise (CEP News)

Toronto housing market slide slows in February (Globe and Mail)

Home sales plunge 33% in February (Toronto Star)

Toronto house prices down just 5%, suggesting a more stable market (National Post)

Canadian Real Estate News

For those who bought, the wait may be long (Globe and Mail)

Optimism returning to housing market, RBC survey finds (Globe and Mail)

Canada home buying intent up as prices fall-surve (Reuters)

Home-Buying Intentions Remain Strong (MarketWire)

Attack of the condo craters (Macleans)

Arrested development (National Post)

Canadian Building Permits Mark Fourth Straight Month of Decline (CEP News) - yep we still

don't start building here in the winter - go figure! .. but yes numbers are still down.

Building permits fall in January (Globe and Mail)

US Real Estate News

Obama's homeowner strategy unlikely to reduce U.S. housing inventories (National Post)

U.S. mortgage woes break records (Globe and Mail)

U.S. construction activity falls more than expected (Globe and Mail)
Economic News

Bank of Canada Cuts by 50 Bps, Considers Quantitative Easing (CEP News)

Next to nothing: What does a central bank do when interest rates approach zero? (CBC)

Missed it by that much: Toronto nearly cracks top 10 on global financial centres list (National Post)
Warmest regards,
Brell - Brenda Ellis REALTOR with OkanaganHeat at Century 21 Executives Realty Ltd.

Get Sunday Open House Info NOW for March 8 Showings

Just wanted you to know that we just posted information about 60 Open Houses scheduled in the Vernon Real Estate trading area for tomorrow. Here is a look at the breakdown according to price sector.

Visit our Map to check out these properties and be in the Know before you go

Oh.. and remember to Spring Ahead an hour!

Warmest regards,
Brell ~ Brenda Ellis, REALTOR with OkanaganHeat @ Century 21 Executives Realty Ltd.

Who's Saying What - March 4, 2009

There does seem to be a spring thaw happening in pockets of Canadian and American Real Estate... Here is our picks for links to information on Real Estate and the Economy:
Okanagan Shuswap Real Estate:
This Week in North Okanagan Real Estate (OkanaganHeat.com)

Regional Canadian Real Estate News
Red Deer Real Estate Update (Patrick Galesloot, Century 21)

Kitchener/Waterloo Real Estate(Jeff Gingerich, Century 21)

Greater Vancouver Real Estate (GVREB)

Canadian Real Estate News
Real estate market prime for first-time buyers (househunting.ca)

Most expensive real estate markets in 2009 (Global Property Guide)

Buyers won't find U.S.-style fire sales on foreclosed homes (CBC)

First-time buyers will lead eventual housing recovery: Brookfield CEO (CBC)

Housing market advantage swings from seller to buyer (Canada.com)

Real estate boom over, experts agree (Toronto Star)

Scotiabank Forum Discusses the Year Ahead for the Canadian Real Estate Market (Canada
Newswire)
Edmonton still No. 1 for real-estate investing, author says (Canada.com)

Housing starts seen falling in '09: Scotiabank (Reuters)

Home sales, prices to continue slide: economist (Globe and Mail)

Renovation tax credit benefits 'limited:' Bank (Toronto Star)

Toronto Ritz in no danger, developer says (National Post)

Homebuyers reap the rewards of patience (Canada.com)

US Real Estate News

A Look at St. Paul Minnesota(St. Paul Real Estate Blog.com)

And Do I Hear $2 Million? No? $1 Million? Sold! (New York Times)
Economic News
Banks cut prime rates half a percentage point(CBC)

Worst numbers 'already behind us' (Globe and Mail)

Worthwhile Canadian Initiative (Newsweek)

Vancouver housing slump evident with cancellation of $500M Ritz-Cartlon project (Canadian Press)

Putting off the Ritz (Globe and Mail)