Central Okanagan Real Estate Report for Kelowna, West Kelowna, Westbank, Peachland and Lake Country:
Dependably Yours,
Wednesday, January 6, 2016
Thursday, December 31, 2015
Happy New Year 2015
Thursday, November 5, 2015
October 2015 Real Estate Report For Kelowna and Central Okanagan
Below is a Central Okanagan Real Estate October 2015 Marketshare Report for the cities of: Peachland, West Kelowna, Westbank, Kelowna and Lake Country.
Dependably Yours,
Thursday, October 8, 2015
September 2015 Real Estate Report For Central Okanagan
Below is a Real Estate Home Sales Report from 2007 to 2015 for the Central Okanagan Region (Peachland, West Kelowna, Westbank, Kelowna and Lake Country).
If you would like more statistics on Kelowna and Area residential sales please call/text me anytime at (250) 808-7700.
Dependably Yours,
Jason Neumann
Wednesday, September 30, 2015
Friday, September 11, 2015
Thursday, September 3, 2015
August 2015 Real Estate Report For Central Okanagan
Below is the August 2015 Real Estate Marketshare Report for the Central Okanagan Region (Peachland, West Kelowna, Westbank, Kelowna and Lake Country).
Below is a Real Estate Home Sales Report from 2011 to 2015 for the Central Okanagan Region (Peachland, West Kelowna, Westbank, Kelowna and Lake Country).
If you would like more statistics on Kelowna and Area residential sales please call/text me anytime at (250) 808-7700.
Dependably Yours,
Jason Neumann
Saturday, August 8, 2015
Okanagan Wineries Dominate National Wine Awards of Canada
The results are in from the 2015 WineAlign National Wine Awards of Canada and there's no surprise that Okanagan wineries have captured 17 spots in the list of Canada’s Top 25 Wineries. A special congratulations to Mission Hill Winery for being given the nod for the fourth time as Canada's Winery of the Year for 2015!
Another reason why the Okanagan Valley is renowned for it's beauty and hospitality...
Dependably Yours,
Jason
Friday, August 7, 2015
July 2015 Real Estate Report For Central Okanagan
Below is the July 2015 Real Estate Marketshare Report for the Central Okanagan Region (Peachland, West Kelowna, Westbank, Kelowna and Lake Country).
Below is a reference graph of residential sales from 2007 until 2015 stretching from Peachland to Oyama...
Thursday, July 30, 2015
CMHC To Allow 100% Rental Income Allowances For Legal Suites
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In a bold move Canadian underwriter, CMHC (Canadian Mortgage and Housing Corporation) has announced it will now allow 100% of rental income generated by legally registered suites. Here is the initial breakdown on using this type of rental income:
- The property must be owner-occupied.
- The property being insured can have only two units (i.e., a duplex or a single home with a legal secondary suite).
- Rental income cannot be used if the suite is “illegal/non-conforming” but “legal non-conforming” is okay. (Non-conforming means that the suite was grandfathered in before zoning/regulations restricted such units. You can check with the city to confirm if a suite is legal.)
- The suite must be self-contained with its own entrance.
- Property taxes and heat must be factored into the borrower’s debt ratios (which is currently not the case when using rent from legal secondary suites).
- For existing units, there must be two-year history of rental income from the suite. The maximum rental income allowed for qualification is a two-year average of the unit’s rent.
- For new units, a market rent appraisal can be accepted if an appropriate vacancy rate has been applied to the estimated rental income.
- Mortgage applicants must “demonstrate a strong history of managing credit” with a minimum credit score of 680.
For more on this new CMHC initiative please visit: Canadian Mortgage Trends
If you are looking for a referral to a terrific local Okanagan based Mortgage Broker please call or text Jason Neumann of RE/MAX Kelowna at 250.808.7700
Dependably Yours,
Jason Neumann
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