Radium, Invemere, Windemere?

[antaynguy]

Hi Everyone,

Does anyone own any rental properties in these areas? Does any knows if this is a good area for rentals?
Are these area affected by the lumber industry?

Thanks! Cheers!

An Tay

 

[GarthChapman]

We just built a 2nd home outside Invermere. It seems pretty clear to me that they have/are over-building condos in the valley. Many of those purchasers will find their units are worth less than the pre-construction prices they paid.

Regarding the seasonal rental business - this rental market will be over-supplied, rents will go down some, and vacancies will be sky high.

Now if you have interest in long term rentals in the area I think good product can be had now at pretty good values, but I have no information on rental rates. There are lots of workers out in the valley building all those properties, and many of them are renters.

Hope that helps,

 

[antaynguy]

QUOTE (GarthChapman @ May 26 2008, 01:50 PM) We just built a 2nd home outside Invermere. It seems pretty clear to me that they have/are over-building condos in the valley. Many of those purchasers will find their units are worth less than the pre-construction prices they paid.

Regarding the seasonal rental business - this rental market will be over-supplied, rents will go down some, and vacancies will be sky high.

Now if you have interest in long term rentals in the area I think good product can be had now at pretty good values, but I have no information on rental rates. There are lots of workers out in the valley building all those properties, and many of them are renters.

Hope that helps,

Thanks Garth for the information!

An Tay