Thursday, 13 September 2018

August Market Report

Its hard to believe that the kids have been back to school for a week already! I’m not sure who has had the biggest smiles this week on Facebook, the kids or the parents. I believe it’s the parents. As a reminder, please make sure you pay attention to those school zone speed limits, you don't want a ticket.
At RE/MAX Kelowna we had a great summer. Along with all the summer activities, we had the pleasure of being the Title Sponsors of the Parks Alive in Kelowna and Music in the Park in West Kelowna. We got to help these two great organizations put on over 50 free concerts throughout Kelowna and West Kelowna this summer. We look forward to many more summers enjoying these great concerts. If you didn’t have a chance to see them or didn’t know about these free concerts, “like” our RE/MAX Facebook page so you don’t miss out next year.
One of the amazing things about the agents that work in our office is their generosity. I have mentioned in the past about the RE/MAX Realtors Legacy Foundation of the Central Okanagan. This foundation was started by the agents of RE/MAX Kelowna and West Kelowna. This year we were able to provide a $5,000 donation to the YMCA kids programs and a $20,000 donation to JoeAnna’s House. It was such an honour for RE/MAX to be part of helping build JoeAnna’s House.
As the Real Estate market changes, we are starting to see interesting swings in the stats, published by the Okanagan Mainline Real Estate Board. As the number of home sales continue to decrease and a more normal and stable market begins to emerge it becomes more and more important to deal with a full time professional agent who have the experience to truly understand these changing market conditions. Call me if you would like to talk about the market.

Stat Comparison      AUGUST 2017 vs. AUGUST 2018
Number of Sales by Month;       2017                        2018 
                                                    591                          449
Number of Sales Year to Date;  
                                                  2017                         2018   
                                                  4,673                        3,699                                            
Residential House Prices by Month;
                                                 2017                          2018                                                
Average                               $682,814                    $687,413
Median                                $648,000                    $640,500
Residential House Prices Year to Date; 
                                                 2017                           2018
Average                             $676,879                      $721,326
Median                               $624,950                      $668,950

Number of Units Listed;           
                                                 2017                            2018  
                                                   955                               993                                                                     
Days to Sell by Month - Residential ;
                                                 2017                         2018
                                                     46                             60
Days to Sell Year to Date - Residential; 
                                                 2017                          2018
                                                     47                              52
Single Family Sales by PriceYear to Date AUG 2018
Price Range                  2017                   2018
$0 - $239,999                     7                         7
$240,000 - $319,999         28                      22
$320,000 - $399,999         95                      71
$400,000 - $479,999        252                    168
$480,000 - $559,999        494                    374
$560,000 - $999,999      1,975                 2,275
$1,000,000 and Over        451                     638

Active Inventory Central Okanagan - AUG 2018
Residential       1,265
Condo                 554
Mobiles                 39
Lots                     416
Townhomes         359

Monday, 30 July 2018

Looking for Land to build that Dream Home?

Life in the Okanagan. Own a property that is affordable! Close to the lake and hiking trails. Water & power to the lot, build your dream home or cottage. Close to LAKEFRONT park & boat launch. Short drive to Vernon or Kelowna. Located in the Killiney Beach area. Please call or text Steve Higgins RE/MAX Kelowna 250.864.7893

Monday, 23 July 2018

New Listing 1424 - 1428 Aspen Court

Investor Opportunity in Prime Location Very Clean Full Duplex with 2 suites. Potential to stratify. 1428 side has 3 Car Garage & 220 wiring. 1424 Side has new suite down w/heated floor in bathroom. New Roof 2013, New Windows, floors, 2 HWT's.  Seller occupying lower right suite. All measurements are approximate, please measure if important. No stove in lower right hot plate & convection overn. Plumbed for gas stove. No fridge in lower left. To view please call or text Steve Higgins RE/MAX Kelowna 250.864.7893

Wednesday, 18 July 2018

Looking for something to do this Summer, what about a Road Trip!

If you’re looking for a scenic drive in BC, you don’t have to go far here are some road trips for you. The top 5 scenic drives in BC that each feature a spectacular 150-kilometre (93-mile) stretch.

Smithers to Terrace and Prince Rupert along Highway 16

In Northern BC, Smithers and Terrace draw outdoor enthusiasts for salmon fishing, boating, and camping in the summer and skiing and snowmobiling in the winter. From small-town Smithers, drive north to the Hazelton's area, where you can learn about First Nations culture at Ksan Historical Village and Museum. Then follow Highway 16 west along the mighty Skeena River and take in the glorious Seven Sisters Peaks in the Seven Sisters Park and Protected Area. Here, you may spot everything from mountain goats to grizzly and black bears. The park is roughly 115 km (71 miles) from Smithers, but the roadside views continue another 85 km (53 miles) to Terrace. From Terrace to Prince Rupert, the drive is equally spectacular, with glimpses of tall waterfalls trickling down the mountains. This 145-km (90-mi) stretch curves along the Skeena River before opening up at the river’s mouth with expansive views near Port Essington. Then, all of a sudden, you’re at the Pacific Ocean in Prince Rupert. From the port city of Prince Rupert, you can charter a boat to go fishing for salmon and halibut if you’re lucky, on the way you can spot orcas and humpback whales from the boat, as well as seals on the rocky outcroppings. Or take a day trip to Khutzeymateen Grizzly Bear Sanctuary.

Vancouver to Whistler and Pemberton along the beautiful Sea to Sky Highway.

The name of the highway says it all: from sparkling ocean right on up to craggy peaks, this is one beautiful drive. Pull over at Porteau Cove for a view of Howe Sound on the 120 km (75-mile) drive from Vancouver to Whistler, or stop in Squamish and ascend high above the turquoise waters on the Sea to Sky Gondola. From Whistler, another 35 km (22 miles) brings you to Pemberton, a pastoral valley that rewards those who go the distance with golf, mountain biking, fishing, and more.

Osoyoos to Lake Country and Vernon down Route 97

North America’s longest continuous north-south highway crosses the United States/Canada border near Oroville, Washington, a short jaunt from Osoyoos, British Columbia. The following 150 km wind north through the fertile Okanagan Valley toward the summertime playgrounds of Kelowna and Lake Country. Stop for a refreshing dip in Lake Okanagan, go wine tasting through the area’s many vineyards, and continue to Vernon for paddle boarding on Kalamalka Lake. Along the way, brake for a snack at one of the many fruit stands piled high seasonally with ripe cherries, peaches, or apples.

Revelstoke to Golden along the Trans Canada Highway 1

Mountain majesty dominates this route, where you can hike through alpine flowers just a short walk from your car at Mount Revelstoke National Park. The 148 km (92 mile) stretch between Revelstoke and Golden traverses one of BC’s great mountain crossings: Rogers Pass. That’s where, in 1885, the Canadian Pacific Railway Company sliced through the Selkirk Mountains and connected the country from coast to coast. In the summer, learn more at the Rogers Pass National Historic Site in Glacier National Park. Then drive on to Golden for its river rafting, paragliding, mountain biking, and wildlife viewing. From Golden, it’s another 83 km (52 miles) to Lake Louise, Alberta, via Yoho National Park.

Hope to Cache Creek Trans-Canada Highway 1

The Fraser River pumped life into the Gold Rush Trail back in the 1850s, when prospectors headed north to Barkerville to seek their fortune. You can experience gold rush history in 150 to 200 km (93 to 124 miles) starting in Hope. But first, take a quick detour to the Othello Tunnels, which are cut through solid granite, in nearby Coquihalla Canyon Provincial Park. Then follow the Trans-Canada Highway that hugs the Fraser north to Hell’s Gate, the deepest and narrowest point of the river. Here, you can take a dramatic air-tram ride over the raging waters. Continue north to Tuckkwiowhum Village, a First Nations heritage site near Boston Bar that offers lessons in Nlaka’pamux culture. Further on in Cache Creek, which once served as the halfway point for prospectors on their way to the Cariboo gold fields, you can go geo-caching to uncover your own treasures.

You can go wrong choosing any one of these road trips or all of them!

Explore Kelowna with Dropbike.

Kelowna's new bike share pilot project is proving to be a huge success. Launched just a month ago, active transportation manager Matt Worona says the program has more than exceeded expectations. "In the first 30 days, we had 7,000 rides and 5,000 people have signed up on the ap," said Worona. The system will be more than double before the end of the month. They are going to move to 400 bikes. It's has now at 180. The additional bikes will allow the system to expand out from the downtown area. Dropbike is in the process of installing more than 25 new haven locations. This is a great way to explore Kelowna in an environmentally friendly way.

Wednesday, 6 June 2018

Hop, Skip and a Jump away from Downtown Kelowna.

Beautifully Renovated Corner Unit. Brand New Kitchen Cabinets, Countertops, Floors, Vanity, Blinds, & Freshly Painted. New HWT 2016. SS Appliances. Windows on Two Sides. Wrap around Deck. Walking distance to Downtown. Rentals & large dogs Allowed! Nicest unit in Building. Call or text Steve Higgins RE/MAX Kelowna to view 250-864-7893

Tuesday, 15 May 2018

A Beautiful Place to call Home.

Beautifully Updated in 2018, steps to Rose Valley Elementary, features large open foyer leading to a spacious living room with large windows. Enjoy the .27 acre private yard, large enough for a pool. The spacious kitchen has oak cabinets, SS appliances, new tile flooring, countertops & backsplash. The main floor has a completely updated full bathroom with double sinks and an updated bedroom. The upper floor has an updated master bedroom with wood floors and a private deck with a peek-a-boo view of the Okanagan Lake & Mountains. There is an additional fully updated bathroom and bedroom with two spacious closets on the 2nd floor. The tranquil private yard nestled among the pines and nut trees is designed with low maintenance where you will enjoy relaxing in the hot tub or sitting with a glass of wine in the gazebo. Also located on the property is a Cottage, great for guests or a home office, and a small shop attached to a single detached garage. To view please call Steve Higgins RE/MAX Kelowna 250.864.7893

Wednesday, 2 May 2018

New Listing in Spring Valley. $550,000.00

Attractive 2010 built 1/2 duplex in family oriented Spring Valley. 5 bedrooms, 4 bathrooms, with a two bedroom suite. Oversized home is approximately 2,251 sq. ft. & quality finishing throughout with hardwood floors on both levels, maple kitchen & skylights. Fantastic street appeal with hardi-board siding & decorative timbers. Good sized fenced yard lots of room for the kids to run and play. Stainless Steel kitchen appliances included, central vacuum. Measurements approximate, please measure if important. Suite is unlicensed, 2nd Bedroom in suite can be used as office or den or bedroom but would require a wardrobe as there isn't a closet built in. To view please call or text Steve Higgins RE/MAX Kelowna 250.864.7893

Tuesday, 24 April 2018

New Listing in Black Mountain. $799,900.00

Fantastic 2812 sq.ft walk-out rancher with a Legal Suite in desirable Black Mountain!! Vaulted ceilings, open concept, Master bedroom on main with Jacuzzi tub. Hardwood floors throughout. Features a very bright 1 bedroom 1 bath Legal suite (with separate laundry). Security system, hide-a-hose central vac. roughed-in. Enjoy your massive covered deck with beautiful mountain and valley views. Call or text Steve Higgins RE/MAX Kelowna 250.864.7893

Friday, 20 April 2018

Just Listed in Glenmore. $439,900.00

Large 3 bedroom, 2 bath townhome with 2 decks and a single car garage. This 1668 sq.ft. townhome is located in a family oriented area with schools close by. 
Beautiful laminate floors through out. Kitchen is bright with a formal dining room. Large master with ensuite and walk in closet. Self managed strata. Roof recently done.
Showings after 1pm daily. To book a showing please call or text Steve Higgins RE/MAX Kelowna 250.864.7893

Tuesday, 17 April 2018

March's Market Report

 What would a monthly newsletter be if we didn’t have some more government intervention into the housing market to talk about. I’m sure you have heard by now about the new Speculation tax announced by the BC NDP government. Calling this a speculation tax is, in our view, misleading. We already have a true speculation tax in Canada. It’s called capital gains tax. This new tax is really a wealth tax and in many cases punishes those who have scraped and saved to buy a vacation property years ago. They are not speculators. They are investors and vacationers who may now have second thoughts about having ties to BC. The NDP is calling it a speculation tax to get people onside with it. Unfortunately some only read the headlines and do not get the whole story. It’s easy to get people upset by blaming rising prices of homes on speculators. But our rising property values are increasing due to an influx of people wanting to move to Kelowna to raise their families, enjoy their retirement and plan for their future. True speculators are playing a small part in driving prices up, and actually, they will not be affected by this tax. A speculator buys to make a profit, they don’t buy homes and leave them vacant. They don’t hold properties for a prolonged period. The real issue is supply keeping up with demand. Cities and municipalities could help offset this by speeding up the approval process for new developments and increasing density in downtown neighbourhoods. When a development takes 2 or 3 years, or longer in some cases, to be passed, it only adds to the cost of the development the consumer ends up paying. This was a poorly thought out tax that will have many unintended consequences on tourism, employment, construction, retail and more. Enough about politics and taxes.
Let’s talk about our local market and see if these government measures announced in the past 6 months are starting to take effect. It’s hard to believe we are through the 1st quarter of 2018. Here are some of the highlights:
• The number of residential sales has decreased by 30.3% to 441 units for the month of March 2018 compared to 633 units in March 2017.
• Days on market has increased 18% to 53 days in March 2018 compared to 45 days in March 2017.
• The number of total listings has marginally increased from 1070 in March of 2017 to 1096 in March 2018.
• Year over year we have seen an upward trend in the average house price from an average house price in March 2017 of $640,969 to $734,197 in March 2018.
As we can see some of the numbers are starting to signal a shift in our market. We are seeing signs that are indicating we may be hitting our peak market. As we move through the next few months we will see if this is a small hangover from the mortgage stress test and new speculation tax announcements or if this is our new market reality.  

Sunday, 11 March 2018

Love Skiing then this is the Place for You!

Beautiful Big White Trappers Crossing Luxury 1 Bed Condo. Granite , Hardwood, Carpet & Tile Flooring. Heated Bathroom & Foyer Floors. Hot Tub on Deck with Mountain views. Perfect location near & level with Village - Walk to Everything. Ski to & From. New Hot Water Tank. Fully furnished Turn Key. Underground Parking. Just pack your suitcase and move in. Measurements are approximate, please verify if important. Please call or text Steve Higgins 250.864.7893

Thursday, 25 January 2018

New Listing on Sunview Dr. $619,000.00 REDUCED 599,900.00

This is not my listing as it is one of my personally owned rental houses.
Fantastic family home is spacious and bright, featuring vaulted ceilings and beautiful views. 3 bedroom plus huge office (could be fourth bedroom) in the main house, PLUS a separate one bedroom in-law suite on the main floor, with own entrance. Large fully fenced yard has lots of usable space, as well as lots of extra parking for RV'S, boats and toys! New roof 2013 and H/W Tank 2013. Tenant up in process of moving out, tenant down is aware of needing to move but would be happy to stay please call Jolene RE/MAX at 250-718-3939

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