Central Okanagan Real Estate Report for Kelowna, West Kelowna, Westbank, Peachland and Lake Country:
Dependably Yours,
Showing posts with label Central Okanagan. Show all posts
Showing posts with label Central Okanagan. Show all posts
Wednesday, January 6, 2016
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,
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
Thursday, July 30, 2015
CMHC To Allow 100% Rental Income Allowances For Legal Suites
 |
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
Tuesday, January 18, 2011
Saturday, January 8, 2011
Central Okanagan Real Estate Statistics December 2010
Central Okanagan Real Estate Market Update
| Condo / Apartment |
|
| Listings Sold | 22 |
| New Listings | 94 |
| Current Inventory | 774 |
| Absorption Rate | 2.84% |
| Average Days to Sell | 137 |
| Days on Market Range | 17-427 |
| Average Price | $246,241 |
| Median Price | $192,500 |
| Price Range | $49,000 - $850,000 |
| Hottest Neighbourhood | Kelowna South |
| Condo / Townhouse |
|
| Listings Sold | 23 |
| New Listings | 72 |
| Current Inventory | 395 |
| Absorption Rate | 5.82% |
| Average Days to Sell | 101 |
| Days on Market Range | 1-330 |
| Average Price | $333,472 |
| Median Price | $325,000 |
| Price Range | $155,000 - $785,000 |
| Hottest Neighbourhood | Kelowna South |
| Building Lots |
|
| Listings Sold | 10 |
| New Listings | 38 |
| Current Inventory | 499 |
| Absorption Rate | 2.00% |
| Average Days to Sell | 243 |
| Days on Market Range | 24-1101 |
| Average Price | $227,925 |
| Median Price | $192,000 |
| Price Range | $90,000 - $430,000 |
| Hottest Neighbourhood | Glenmore |
| Residential |
|
| Listings Sold | 82 |
| New Listings | 138 |
| Current Inventory | 1,109 |
| Absorption Rate | 7.39% |
| Average Days to Sell | 123 |
| Days on Market Range | 11-563 |
| Average Price | $462,527 |
| Median Price | $418,750 |
| Price Range | $150,000 - $2,025,000 |
| Hottest Neighbourhood | Glenmore |
Overall Sales vs Inventory = 4.93%
Complete OMREB Stats and Statistical Graph for December 2010
Disclaimer: Monthly sales statistics are based on the sales reported by real estate offices as of the last day of the month. As a result, there may be a delay in sales being reported or other minor adjustments in the total results at the time of this posting.
If you would like more in depth statistics or are curious about the current real estate market trends in Kelowna,BC please contact me at: (250) 808-7700 or jason.neumann@century21.ca
Learn more about my free Automatic Notification System and start your home search today!
Sincerely,
Wednesday, August 18, 2010
Okanagan Lighthouse - Photo of the Day
Sincerely,
Cell: (250) 808-7700
Your Okanagan information source: www.KelownaRealEstateNews.com
Sent from my office...
Sunday, April 5, 2009
How To Market Your Home Effectively
What's Involved in Marketing Your Home
In today's fast-paced, high-stakes marketplace, it takes know-how to sell a home. That's why most sellers enlist the services of a REALTOR® - a professional who has the qualifications, experience, skills, time and knowledge to provide the advice and services needed.
A REALTOR® will market your home to your best advantage. He or she will help you set a price that reflects the true value of your home under the current market conditions. They will also explain the selling process and help you close a deal.
But even before you enlist the help of a REALTOR®, it's a good idea to try to understand the steps involved in making a successful sale.
Article Courtesy of OMREB
Sincerely,
Jason Neumann
Thursday, March 5, 2009
A well planned Open House can sell your home!
Preparing for your Open House
First impressions count when selling your home - especially during an Open House. Your REALTOR® will help you prepare for your open house by suggesting many ways you can present your home in its best light and increase its saleability factor.
An open house is just one aspect of an effective marketing plan your REALTOR® will develop to sell your home and one of the many services a REALTOR® provides.
Tips and advice on how to get to your house ready for sale are also part of a REALTOR®’s expertise.
He or she will advise you about things like de-cluttering and de-personalizing your home as well as minor improvements such as painting and rearranging furniture. Obviously, you will want to ensure your home is squeaky clean for your open house and there are other simple touches that can make your home even more appealing.
Fresh flowers are an easy way to give your home a cheery and well-looked-after feeling. Invest in enough flowers to place one large bouquet for impact either in the foyer or the living room and a few smaller ones throughout the house. The scent of fresh-brewed coffee, home-made bread or cookies can also be very welcoming. See the list below for more Open House preparation tips.
Article Courtesy of OMREB
Sincerely,
Jason Neumann
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