Message from the Publisher
T
he Chinese have a saying: may you live in interesting times. These are certainly interesting times in real estate. Since 2006, markets across North America have taken a wild ride. Early in that infamous year, low interest rates turned a boom into a buying frenzy. Pre-owned homes sold within hours of being listed and wait times for new homes stretched from six months to a year. Prices soared, then leveled off in 2007, and have since dropped slightly. The oddest trend during this hectic period was the relentless rise in prices even as interest rates doubled and demand weakened. The worst trend was the gradual downgrading of the term “affordable” to “attainable,” meaning housing that you’re lucky to get. Never mind being able to pay for it. Industry representatives say that the boom is over and that the market will now return to normal. Frankly, “normal” will be a relief. Supply will catch up with demand and people looking for a builder will find one who isn’t booked three years in advance. Builders and trades people will get some time off. Some of the firsttime buyers who dropped out of the panic market will
get another chance at home ownership. We’ll all get an attitude adjustment. The fact is that a normal real estate market in this country is a boom market in less fortunate parts of the world. There is certainly no slowdown here in the Columbia Valley. Since we launched Columbia Valley Homes in 2007, our landscape has transformed. New subdivisions are springing up everywhere. Luxurious new resorts are taking shape. Our towns and villages echo with the sounds of new home construction. The commercial real estate market is strong, and residential demand is brisk enough to keep builders and realtors busy. What does the future hold? No one knows, but from here it looks bright. In this issue of Columbia Valley Homes we bring you up to date on some of the exciting new developments under way in the valley. We show you some gorgeous new showhomes and take you inside the extraordinary home of valley residents Brad Hill and Patti Acheson. If you’re planning to buy, build or renovate here, you’ll find helpful information about how to get started. Read and enjoy.
Elinor Florence Publisher 2008 – 2009 Columbia Valley Homes • 5