As you may have noticed, we have started our "Hot Properties" newsletter as of the last week January. This was the first of a quarterly series of newsletters designed to highlight some properties on our site that are of great value in the current market. Our last newsletter featured some properties that were recently reduced, whose sellers are motivated and even a high-end foreclosure near Kelowna. Click here to sign-up.
It seems as though others in the business are starting to see (and write about) some deals as well. In last weeks Facts by Email, Ozzie Jurock pointed out some developments that may be facing issues in the coming months. Among them are:
- Whiskey Landing in Ucluelet: Developer having problems getting an occupancy permit. Building in receivership although complete.
- Black Rock Oceanfront in Ucluelet: Some buyers who bought pre-sales trying to get out of closing.
- Wyndandsea Resort in Ucluelet: Construction stopped due to financial difficulties.
- 160 Lakeshore Development Corp. in Penticton: Some buyers not closing.
Although the units in the above mentioned developments may not yet be discounted, there is potential in the market for prices to start to adjust due to the overbuilding that began to take place towards the end of the last market high.
If you are looking for deals on our site, you can sort out the motivated sellers by doing an advanced search and selecting the "Motivated Seller" button at the bottom of the page.
Happy House Hunting!
