Now to be fair, I am not sure where to lay the blame for this overly optimistic exuberance and unrealistic pricing expectation on the part of some Okanagan sellers. Whether it is the many uneducated agents, who do not watch the market closely, and without enough knowledge, agree to promote some overpriced Okanagan homes, or the influence of a neighbour who sold for a record high and the Vernon seller who decides they want 40% more than that last neighbourhood sale. Or even just that zany person who says “double it” to whatever market-based price recommendation is made, hoping to win the lottery!... No matter what the reasons may be, we are starting to see listings (especially in the Luxury market over $1 Million) sit on the market with little or no showings to the frustration of the Vernon Home Seller.
If you look over the past 24 years in Vernon, the home values have gone up a staggering 400%! So trying to save yourself a few thousand dollars on your family’s dream home, that you will live in for the next 9 years is not worth the risk. More importantly, if you lose, you are still back in the buyer’s pool with other buyers competing for the next home which may not be as nice as the first choice.
It's Mother's Day weekend, and the O'keefe team is here to celebrate all the hard-working mothers in the Okanagan.
SHOWING OUR LOVE AND APPRECIATION FOR MOTHERS!