This past weekend, our team at Lake Okanagan Realty, enjoyed a business trip to Vancouver to take part in Ozzie Jurocks Real Estate Outlook for 2013. It was a very important weekend for us to get ready for planning our 2013 business directions. I must say that the presentation gave me a positive outlook and I am reassured that there is nothing to worry about in our market. Aside from the lowering of prices in the next 6 months, which is expected in the late fall and winter markets, I am convinced we are heading for a recovery by 2015.
Without divulging all of my secrets, I guess the most important thing I got out of the investment seminar is to think globally and understand the factors that contribute to real estate in my own area of expertise. There are many things going on in the world economy and many people fail to take these things seriously. The European crisis is one of those and easily said – DO NOT invest in Europe right now. The situation in Europe is not a good one. The money borrowed is not going to magically appear from another broke country! My eyes have been opened and I have a whole lot of information to share about how we go about “baling out” these countries. The first starts with a very funny video to watch for. I shall be posting the link right away.
A few practical investment tips were presented at the seminar. Most of us already know these things but it is good to hear them over to remind ourselves.
For instance it is always a good idea to be buying where there are jobs being created. In Canada there are some major oil and gas projects going on that call for thousands of people to relocate and work outside of major cities. Places like Fort McMurray have already seen a dramatic increase in population and real estate prices. As we all know Saskatchewan is also hitting a boom – why not invest there? There are a few more places that we can recommend for investment around Alberta and northern BC, all dependent on new pipelines for natural gas and oil – this should get you thinking!
A simple trend is to sell in the first 6 months of the year, and buy in the last 6 months – this is the usual real estate market trend but of course, there are exceptions to every trend! I have seen quite a few DEALS below market value, you just have to look, or hire someone like me to do the looking for you! I am always looking for a good conversation, and always looking to make your real estate priorities mine. Get a hold of me and we can talk about it! Marika@PoshPropertiesKelowna.com.