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The decision of the developer of the stalled Rise community in the Okanagan to liquidate completed neighbourhoods has resulted in the sale of five building lots in three weeks.

''And why not? There are great deals on everything,'' says the organizer of the liquidation sales and marketing campaign, Greg Lowe of Land Launch Marketing said in a news release.

The 735-acre development, started by Okanagan Hills Development Corporation, is for sale and is operating under protection from creditors in the Companies Creditors Arrangement Act.

When Lowe announced the liquidation sale earlier this month, he and the developer did not announcement any prices.

This week's news release says liquidation prices will be equal to about 70 per cent of pre-CCCA prices.

''A 30-per-cent discount combined with today's construction savings means a difference of $300,000 on the cost of a higher end home in the Watermark neighbourhood at The Rise," Lowe says.

Lowe has reduced the asking price on 11 Watermark building sites to $350,000 from $500,000

He has reduced prices on 14 homes and building sites in two other Rise neighbourhoods between 10 per cent and 30 per cent.

The Rise currently consists of 131 homes and building sites in six neighborhoods.

The developer put $105 million into the new community, the news release says.

A second news release worthy of note this week came from Scotiabank: nine per cent of Canadian households owned a second, or vacation, home in 2005, the 2006 Census shows, up from seven per cent in 1999.

''The rise in second-home ownership reflects the aging 'baby-boomer' generation which are now in their peak homeowning years,'' the bank comments. ''The likelihood of owning a second home is highest for Canadians aged 45 - 64.''

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