Thursday, 16 October 2014

New Listing Condo Lower Mission

LAKE VIEWS, TOP FLOOR, SW CORNER SUITE. Largest & most Luxurious suite in Wildwood 3. Balcony with 270 Degree Views. Heated Floor in Ensuite. Vaulted Ceilings S/S Appliances. 2" Wood blinds. Upgraded fixtures, facets etc. Nicest suite in the complex with the best views. Steps to the Lake and the H2O center. Call Steve Higgins RE/MAX Kelowna 250.864.7893

Wednesday, 15 October 2014

Market Report for September.

The British Columbia Real Estate Association (BCREA) reports that there were a total of 7,636 residential sales were recorded by the MLS in September, up 17.5 per cent from September 2013. Total sales dollar volume was  also up $4.4 billion an increase of 25.8 per cent compared to a year ago. The average residential price in the province rose to $574,641, up 7.1 per cent from the same month last year. 

Consumer demand remains strong in most BC regions.  More homes traded hands last month in BC than any September since 2009 while the Okanagan had its best September in nine years which is great news for us here in the Okanagan. With Population growth, low interest rates and strengthening economic conditions continue to be supportive of housing demand. 

Year-to-date, BC residential sales dollar volume was up 23.2 per cent to $37 billion, compared to the same period last year. Residential unit sales were up 16 per cent to 65,353 units, while the average MLS residential price was up 6.2 per cent at $565,655.

Tuesday, 14 October 2014

Prep your Yard for Winter

It's never to early to to begin preparing your yard and outdoor living spaces for winter.

- Clean patio furniture.
- Move things indoors. Exposure to the elements can cause rust, wear or damage.
- Cover your delicate trees and move your tropical plants indoors.
- Remove water collectors such as bird baths ceramic or glass pots as water expands when frozen and it may cause your containers to crack.
- Remove any leaves or debris as it will suffocate your lawn and cause discoloration. It also makes a great home for rodents and insects looking for a warm home for the winter.
- Cover your vegetable and flower beds. It helps to minimize weeds for next season.
- Care of outdoor ponds. Remove any weeds around it and leaves in the pond. Leaves will decay in the water and build up ammonia levels that can harm your fish.
- Close up your pool before the leaves start to fall.
- And if you are going to plant spring bulbs now is the time to do it.

What is a Good Investment in your Home?

You want to invest in your home wisely. So how do you decide where to put your money?
Knowing which improvements give a higher return can help boost your home’s value and save you time and
Here’s a quick look at how you could prioritize projects around your home. Address the small stuff  if your home is plagued with many minor issues that is usually considered less desirable and harder to sell. Such as  dripping faucets, running toilets, torn vinyl flooring and damaged carpet instantly make a bad impression on
buyers. Put your money into those first and use what’s left to make larger improvements.

Boost curb appeal - It comes as no surprise that exterior home improvement projects rank as the most cost effective, according to Remodeling Magazine’s 2014 Cost vs Value Report. It ranks projects based on their cost and how much money they recoup after selling.

96 percent – Replace a wooden front door with a steel security door
87 percent – Add a new deck
78 percent – Replace siding
78 percent – Install a new garage door
78 percent – Install new windows
84 percent – Convert an attic to a bed and bath
82 percent – Minor kitchen remodel
77 percent – Basement renovation

If you are thinking of selling down the road these will give you the best return on your investment.

The Fall Market

Real estate sales decided not to take a breather this fall. September saw more units sold than August and was up a whopping 36% over last year at this time. Fewer listings also came on stream comparing to
August and now the active inventory is only 3,537 compared to 4,232 in September last year. Granted, over 3,500 listings is still quite a number! Offering a good selection in most locations and buyer price ranges, but we are seeing prices moving upwards at a rate of about 8% so far this year on
average for a single family home in the greater Kelowna area. Condos are not quite as strong as they are up only about 4% in price, but they do lead the way with the most activity in residential sales by quite a bit. thereby reducing the one time glut of overbuilt condos for sale.
The way October has started off, it appears this active fall market will continue yet for a while, but how long? Only time will tell. Resource rich Alberta shows no signs of slowing down and that is always a good indicator as to how the Okanagan market will go. Combine the ongoing low interest rates with the buyer demand, from both local and out of province buyers, and a very good selection of product, we will likely see the strongest fall market we have seen since 2007 but without the same high prices. This coming winter will be very interesting to watch and predict.

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