Summerland,Penticton, Okanagan Success Stories and Happenings: Home foreclosures in the South Okanagan Towns of Penticton & Osoyoos BC have climbed again this week

Home foreclosures in the South Okanagan Towns of Penticton & Osoyoos BC have climbed again this week

Summerland Penticton Okanagan Real Estate Agent and Home Star Realty Owner Raymond MAASKE , BBA, CCC, ATM-B has highlighted 17 properties ranging from under $100,000 to almost $1,800,000. We continue to see more foreclosures from a wide varieties prices and locations.

“In Osoyoos you can now find a three bedroom, two bathroom house $329,000” says Summerland Penticton Okanagan Real Estate Agent and Home Star Realty Owner Raymond MAASKE.

“In Penticton, you will find Top floor South East corner unit at THE ELLIS at Kettle Valley Station. The top floor offers this unit a vaulted ceiling in the living room. Two bedrooms, two-bathroom unit with open floor plan. Secure underground parking: Patio doors from living room and master bedroom to 58 Sqft deck area: Mountain and City views: Second parking spot purchased already! All measurements are approximate. 2011 Tax Assessment: $206,800 and owner paid $235,000 in 2008.” Says MAASKE.

There are no shortages of properties to choose from in Penticton either. For example, there is a house at 233 BRANDON AVE – just reduced $7000 to now $242,900. Summerland Penticton Okanagan Real Estate Agent and Home Star Realty Owner Raymond MAASKE describes this “2-bedroom home well situated between the Malls offers great value 19% below its current tax assessed value of $297,000. The recently updated kitchen offers lots of cupboard space and the ease of functionality, with plenty of room to work. There is a separate laundry area just off the kitchen offering access through sliders to the rear yard and patio area perfect for barbecuing with friends and family while the kids run and play. The renovations have only just been begun, so this is a perfect opportunity for you to get in on the action and make this house your home or next investment.”

A struggling economy is to blame for more people losing their homes in the South Okanagan Towns of Penticton & Summerland, BC but in the Kelowna area, the lure of luxury condominiums has waned as buyers turn to year-round sunshine destinations South of the our border.

“I just received another foreclosure on Friday that I am processing which is getting harder to value as the process of bank sales thru foreclosures is time consuming and stressful as I often work directly with those losing their homes” says Summerland Penticton Okanagan Real Estate Agent and Home Star Realty Owner Raymond MAASKE , BBA, CCC, ATM-B

Buyers from Alberta and the Lower Mainland purchased luxury properties in Kelowna and in the South Okanagan Town of Penticton when the market was high in 2008. Now they are taking losses as prices have dropped, some by as much as 50%, which has sent foreclosures rates in the Okanagan through the roof.

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