Saturday, August 30th15.6°C
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Real Estate

Fake it till you make it!

The phrase has been a modus operandi it would appear for the most of the world for the past decade.

I have always said that there is a very fine line between faith and stupidity. I am sure the phrase “Fake it till you make it” or even better “Fake it until you believe it” was created on the finance main streets of the world, as we continue to hear of arrogant banking organisations around the world who use fraudulent cover ups to hide illegal or misleading activity.

“Honesty is the best policy” would be a much better phrase to adhere to and I think most of us are starting to understand the only way to exit a difficult situation economically is to deal with the situation honestly.

From that point of view it is very encouraging to see the continued bullish statistics on Okanagan sales and the forecasts which are still staying on the plus side of the forecast line.

Yesterday, CMHC delivered it’s Third Quarter housing market outlook  and while BC continues to pull back a little as a result of some stagnation in the Vancouver market, the Okanagan just keeps on trucking at a steady pace.

As you review the stats which are available on CMHC’s website, it is very obvious that the Okanagan is the best performing region in BC from an MLS sales activity perspective and close to the best performing region from a pricing gain point of view. Of course we have shown how statistics can be misleading and so remember that this is simply one arrow in your quiver in terms of information to assist you in making a decision. The data being reviewed is 2nd quarter data and shows the Okanagan outstripping the Canadian average statistics.

As you continue to read the report you will see that CMHC continues it’s bullish predictions for the region through 2013 also, which is encouraging news for both Buyers and Sellers. While Buyers have enjoyed a market that has favoured lower pricing, any sign of increased transactions is encouraging and will be good news across the board.

Our region continues to show improved signs of recovery and there is absolutely no need to “fake it till you make it” in the Okanagan, we have always had what it takes to recover from whatever the world will throw at us... a beautiful destination with an appealing climate. ‘Nuff said.



Read more The Accidental Journey articles

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About the author...

For the past twenty years Mark has been involved in real estate development and consulting and is currently a REALTOR with Realty Executives in Kelowna.

His column, brings a unique perspective on what may be important to us in the future as we come to grips with fast paced change in a world that few people barely recognize.

His influences come from the various travels he undertakes as an Adventurer, Philanthropist and Keynote Speaker. More information can be found on Mark at his website www.markjenningsbates.com

 




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The views expressed are strictly those of the author and not necessarily those of Castanet. Castanet presents its columns "as is" and does not warrant the contents.


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