Shuswap area sales jump back

Shuswap real estate sales sparked in March compared with February, up 85 per cent .

The numbers are still down significantly from last March; -50.67%.

Interest rates are historically low and the selection of real Shuswap area real estate has doubled in contrast to last year.

Here are June's reasons why this might be a good time to buy:
1.
Home prices. Home prices have leveled off and even dropped significantly in many locations, when compared with prices a year ago. Lower prices – affordability - may allow you to consider housing options across a wider choice of neighbourhoods.
2.
Housing selection. While there is still a wide range of homes available, a slower market may mean you have less competition. This can relieve pressure on you to offer a higher price or to make a hasty purchasing decision. Be aware, though, that unlike many of their U.S. counterparts, sellers in Canada generally aren’t under pressure to sell.
3.
Investment. Owning your primary residence has almost always been a good way to build equity. Real estate, over the long term, has tended to rise in value, despite short term fluctuations. Plus, when you eventually sell your home, the capital gains are likely to be tax-free. Since you’re paying rent anyway, why not put that money toward a place you will eventually own? You’ll also be able to customize your space exactly the way you want it.
4.
Interest rates. Mortgage interest rates, firmly in the single digits, have been at historically low levels. This can help keep the cost of financing an entry level home relatively affordable.
5.
Personal timing. The most important reason to buy a home is that it’s the right time for you. If owing a home is a high personal priority and if your financial situation is sound –- you have steady income and manageable debt load – then that could be the most compelling reason to start looking. Remember: there’s no “right” or “wrong” time to buy. Since it’s almost impossible to time the market, the ideal time to buy a home is usually when you are ready.

Contact june@juneconway.com OR 1.888.657.7123 – 20 successful “full time” years helping folks with happy home searches!