While there are 'mutterings' of the Kelowna Real Estate Market slowing down, I have to say this is more to do with lack of suitable inventory than a 'market slowdown'!
I have been working with several buyers looking for Single-Family Homes & Townhomes, and we are racing to view new listings nearly every day, and anything we write on is in 'multiple offers'.
In the Academy Way area near the University, Condo listings offering vacant possession for September are becoming increasingly rare, and I understand that rentals are very hard to come by.
One Agent at my office reported over 100 showings on one of their more affordable home listings last week!
As Buyers get more desperate, we are also seeing properties where Sellers indicate they will look at offers on a certain day, suddenly receive 'bully offers'.
So what is a 'Bully Offer'? A Bully Offer is an offer to buy a property before the date the Seller has indicated they will accept offers. It is...