Is the entire Province of BC reacting to the 2010 Olympics?
Posted Mar 14, 2007 @ 9:10 am, Viewed by 477 Visitors, Read 477 Times.
I have to say yes it is, from my vantage point in a small market 5-6 hours from Vancouver (the home of the 2010 Olympics) my observation is that the Olympics have been a key factor driving our Real Estate market into a frenzy. The Real Estate market on the lower mainland has been building steadily with properties becoming more and more valuable.
The people selling in the Lower Mainland are doing so to get out of the rat race. Many of them are choosing to buy a home in the Okanagan Valley at Kelowna, Vernon, Penticon, Oliver or Osoyoos. That trend is fueling the market at little old Greenwood, Midway, Grand Forks and Rock Creek who are only a 1-2 hour drive from their choice of the Okanagan Cities.
As a result of this and an incredibly strong economy in Alberta, outying areas which previously held little or no interest to investors have been looked at as serious investment opportunities. The Boundary area economy has a history of being a little unstable as far as employment goes but for the demigraphics we are seeing there is little or no risk. We are seeing people not quite retirement age who are looking for a place where the equity from their home will pay for their new home outright, leaving them with a little cash in the bank to embark on their new semi retired lifestyle.
Many people come in bringing with them the ability to continue to make money in the City they are coming from. Maybe it is an internet connected remote office or maybe they hold a sales territory for an area they can still cover from here. Some have online business interests or are simply day traders or stock market dabblers.
I want to thank the groups or individuals who decided to take on the project of bringing the 2010 Olympics to British Columbia.
In my humble opinion their dream has fueled our new reality.
Have a Great Day!
Don Mann
Email - sold@dontherealestatemann.com
The people selling in the Lower Mainland are doing so to get out of the rat race. Many of them are choosing to buy a home in the Okanagan Valley at Kelowna, Vernon, Penticon, Oliver or Osoyoos. That trend is fueling the market at little old Greenwood, Midway, Grand Forks and Rock Creek who are only a 1-2 hour drive from their choice of the Okanagan Cities.
As a result of this and an incredibly strong economy in Alberta, outying areas which previously held little or no interest to investors have been looked at as serious investment opportunities. The Boundary area economy has a history of being a little unstable as far as employment goes but for the demigraphics we are seeing there is little or no risk. We are seeing people not quite retirement age who are looking for a place where the equity from their home will pay for their new home outright, leaving them with a little cash in the bank to embark on their new semi retired lifestyle.
Many people come in bringing with them the ability to continue to make money in the City they are coming from. Maybe it is an internet connected remote office or maybe they hold a sales territory for an area they can still cover from here. Some have online business interests or are simply day traders or stock market dabblers.
I want to thank the groups or individuals who decided to take on the project of bringing the 2010 Olympics to British Columbia.
In my humble opinion their dream has fueled our new reality.
Have a Great Day!
Don Mann
Email - sold@dontherealestatemann.com
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I am a realtor with Coldwell Banker Border Country Realty of Grand Forks, BC. I work in the Greenwood office but my service area encompasses the area from Christina Lake to Beaverdell. Read More
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