As Christmas draws near, the market continues to remain strong. This is largely buoyed by historically low inventory, as well as low mortgage interest rates. The stats below indicate and average price increase of 13.23%; once again I would advise caution while interpreting that figure. It is affected by many things, including the much, much higher volume of $1,000,000+ and $2,000,000+ properties that have sold this year. The luxury market is running strong, and those high priced homes do a lot to swing the "average" prices. Food for thought!
5 year fixed rates are currently available for 1.5-1.75%. If you are up for mortgage renewal, refinance, or are shopping for a new property, this is the perfect time to get a pre-qualification and lock in this incredibly cheap money.
My colleague Konstantin Seroshtan from Bluetree Mortgages West would love to help out! If you have any questions about a purchase, refinance, or equity take out, give him a call: 250-826-7626 or firstname.lastname@example.org.
This month I have a stunning acreage in Black Mountain - a custom built home withsuite, situated on one full acre of perfectly flat and manicured land. It would be the perfect family home, with a 1 bedroom inlaw suite and limitless room for a shop, etc.
Address: 1975 Belgo Road, Kelowna, BC
That's all for now. If you are curious about a property, or your property's value, give me a call @ 250-575-4292. And I always love working with your referrals!
Merry freakin' Christmas!