BC Commercial Leading Indicator Edges Lower in Fourth Quarter

BC Commercial Leading Indicator Edges Lower in Fourth Quarter

Vancouver, BC – February 28, 2013. The British Columbia Real Estate Association (BCREA) Commercial Leading Indicator (CLI) edged lower by 1.3 points in the fourth quarter of 2012, to an index level of 111.3. On a year-over-year basis, the CLI was up 0.8 per cent during the fourth quarter of 2012.

The decline in the CLI translates to a slight rolling over in the underlying index trend, signaling a potential slowing of activity for the first half of 2013.

"A modest slowing of commercial real estate activity is in general accord with 2013 being somewhat of a transition year for the economy," said Brendon Ogmundson, BCREA Economist. "We anticipate that slower growth through the first half of 2013 will give way to a more robust economy in 2014 and therefore an increase in commercial market activity."

To view the full BCREA Commercial Leading Indicator index, click here.

For more information, please contact: 

Brendon Ogmundson Economist Direct: 604.742.2796 Mobile: 604.505.6793 bogmundson@bcrea.bc.ca

Damian Stathonikos Director of Communications and Public Affairs Direct: 604.742.2793 Mobile: 778.990.1320 dstathonikos@bcrea.bc.ca

- See more at: http://www.bcrea.bc.ca/news-and-publications/news-room/news-releases/commercial-leading-indicator-news-release#sthash.AnvLkeLZ.dpuf

Did you Know?

That you can burn calories by fidgeting!! Here my wife is always telling me to stop fidgeting, well now I can tell her I am burning calories and she will be happy!! There are a number of ways that fitness minded people can burn a few extra calories, and you don't even know you are doing it.

For instance, those that can't sit still and tend to have a nervous personality may burn more calories than a person who is calm. Because fidgeting can burn up to 350 calories a day. Laughing can also burn extra calories. Scientists estimate that laughing a 100 times is equivalent to a 10 minute workout on a rowing machine....well I intend to to a whole lot more laughing.

Remember to get a good sleep as well, research has found that dieter who get adequate sleep can more easily shed weight.

With Research showing there are so many obese people in North America I thought I would share this little tidbit....so you can fidget away!!

~Beach Baby~ My Listing for the week of Feb.27th - Mar. 6th

Adorable 3 bedrm home plus office. Only 3 years old & in mint condition. A short walk to the beach and boat launch. Bamboo floors in the Great Rm. 19' ceiling leads to loft. Marble tile in the bathroom. Large private deck for summer BBQ's. All furniture included. Furniture, BBQ, lawnmower, everything is included. This is a great home just close to 2200' of prime beach dedicated for the private use of all Parker Cove residents and their guests. This is a great retirement location with its tranquil country lifestyle but also inviting for all ages as there are no age restrictions. Sand volleyball court, children's playground, baseball diamond mooring facilities, boat launch and horseshoe pits. Community Centre has many activities including pool table, darts, shuffleboard and many other organized activities. Come check out this wonderful place to live. Parker Cove Resort is on a crown lease running to 2043. Ready to move in.Call Steve Higgins RE/MAX Kelown for private showing 250-864-7893

Register Early for Free 1st-Time Home Buyers’ Seminar

Register Early for Free 1st-Time Home Buyers’ Seminar

This seminar is being held in Vancouver

Real Estate Signs: Pros Predict the Spring Market

Real Estate Signs: Pros Predict the Spring Market

Avalanche's don't be Caught in One

The Canadian Avalanche Centre forecasts indicate a high danger rating in many areas of the province, this means travel is not recommended in the alpine and at the treeline.

The rating also means that natural and human triggered avalanche's are likely. There have been a series of weather systems that have dumped heavy snow on many of the BC mountains. The areas where the danger is high are the South Coast, Sea-to-Sky, the North and South Columbia, Monashees, Selkirk's, Kootenay-Boundary, the Purcells and the South Rockies.

My Listing for the Week of Feb. 20th - 27th

WELCOME TO 764 CASSIAR PLACE $575,000. 
OPEN HOUSE SUNDAY FEB. 24TH  1-3 PM

The first thing you will notice is the Amazing Street Appeal when entering the Cull-De-Sac. WOW! And it keeps getting better! This Gorgeous Home has an Incredibly Private Yard on more than a Quarter Acre and with Great Views. Vaulted Ceilings, Cherry Hardwood Floors, Granite, Heated Ensuite Tile. Huge 2 Tier Sun Deck. Unique layout. Formal Living & Dining Rooms plus a Main Floor Family and Office. You can easily add 500 more Square Feet by finishing the basement. The Location is Ideal in Prestigious Dilworth. 5 Minutes to Downtown and 10 Minutes to the Airport. This home is priced to sell. There isn't a better deal around. Call Steve Higgins RE/MAX Kelowna for your private viewing. 250-864-7893. MLS# 10056517

BC Home Sales Remain Subdued but Stable

The British Columbia Real Estate Association (BCREA) reports that a total of 3,410 residential sales were recorded by the Multiple Listing Service® (MLS®) in BC during January, up 1.8 per cent from December on a seasonally adjusted (SA) basis, but down 13.6 per cent compared to January 2012. Similarly, total sales volume increased 3.8 per cent SA, but declined 16 per cent from the same month last year. The average MLS® residential price in the province was $514,134, up 3.2 percent from December, however, down 2.7 per cent from a year ago.

"Despite a modest uptick in consumer demand last month, home sales have remained relatively stable at a noticeably lower level since last August," said Cameron Muir, BCREA Chief Economist. "Continuing low mortgage interest rates combined with an easing back of home prices in some areas is expected to trend home sales higher during the spring and summer months."

"The ratio of home sales to new listings is indicative of a balanced market at 42 per cent," added Muir. "However, there remains a backlog of existing home listings to either sell or be pulled off the market before supply and demand can be considered in check."
Dramatic swings in average price statistics caused by a surge and subsequent pullback in luxury home sales appear to be near an end. The year-over-year change in average prices now more closely reflects the home price indices in Vancouver and the Fraser Valley."

New Home Construction up Slightly

Kelowna's new home construction grew a bit as the slow economic recovery continues. In January 2013 there were starts on 55 homes in the city, according to the latest statistics from Canada Mortgage and Housing Corporation. 

The 55 starts were made up of 33 single family detached homes and 22 units in condominium, apartments and town house complexes. That is slightly above the 49 starts for January 2012.

My Listing for the week of Feb. 13th - 20th

#206 265 Snowsell Street in Glenmore. $205,000.00

Immaculate & Spacious. Enjoy Garden Views from Large Glassed-in Balcony. Gas Heat and Water included in Strata Fees! Central Air. Large Master Bedroom with Walk In Closet and En-suite. Large 2nd Bedroom & Bonus room for Computer, Pantry or in-suite storage. Gas Fireplace in Bright Living room. In-Suite Laundry. Additional storage locker. New upgrades include light fixtures and paint. Call Steve Higgins RE/MAX Kelowna for private viewing 250-864-7892 MLS#10058778

Stone Soup Chef

Stone Soup Chef begins tomorrow Tuesday February 12th with eight of the top chef's in Kelowna going head to head in this competition to make the best soup in the city. This will be the 4th annual Stone Soup Chef competition at the Kelowna Gospel Mission.

The Chefs can only use the ingredients found in the pantry that day at the Gospel Mission. That in it's self may be quite challenging as Gospel Mission is a homeless shelter and they also rely and receive food donations. There will be a panel of community judges that will vote on the best soup and that soup will be served to visitors at the Gospel Mission.

One the preliminary round are done, then two semifinalists will square off for the final round of soup , Iron Chef style. The final round will be held at a gala fundraiser on Saturday March 2nd. Proceeds from the gala will go towards buying kitchen equipment.

Tickets to the gala on March 2nd are available at stonesoupchef.com or by calling Gospel Mission at 250.763.3737

Sparkling Hills Resort

This weekend Tracy and I went to Sparkling Hills Resort. We had heard so much about it and what an amazing place it was, we thought we have to go and see for ourselves.

Sparkling Hills is truly amazing!! The drive up to the resort is beautiful, then you reach the top of the mountain and there sits the resort like a diamond in the ruff. Only in this case it is a crystal on the mountain. Sparkling Hills was designed by Swarovski crystal architect Andreas Altmayer, the resort has incorporated 3.5 million Swarovski crystals in almost every element of the property. It is the first public building in the world with crystal architecture.

Our room was amazing along with the spa. The KurSpa is complimentary with your hotel stay which give you access to the 7 unique aromatherapy saunas and steam rooms, experience the showers, igloo 10˚C , indoor pool with underwater music and starry swarovski crystal sky, hot pool, Kneipp water therapy, Keiser equipped fitness studio, Tea and Serenity Relaxation rooms and outdoor infinity pool. There are also a lot of other spa treatments that they have available to you.

I would highly recommend treating yourself to Sparkling Hills Resort. For more information here is their website http://sparklinghill.com

Little Bathroom Organization goes a Long Way

Keeping one of the most used rooms in your house, the bathroom, beautiful and functional involves organization.
As so many people use this room and bring many things into it, it’s easy for it to become unsightly. Consider these tips to show off the beauty of your bathroom...

-Clear off all countertops and put away all products.
-Invest in draw dividers and put most used products in easy accessible places.
-Organize like products together. For example, put all make up together.
-When given the chance always opt for drawers instead of cabinets as they showcase toiletries and small appliances quickly and efficiently.
-Install an attractive shower caddy to keep shampoos and conditioners off of the floor of your shower.
-Utilize the space above your toilet by installing modern functional shelving to store extra towels and toiletries. 
-Keep your linen closet neat and tidy using baskets to store cleaning products, towels and more is your best defence against an untidy bathroom.
-Even the back of a door can be used to hide unsightly mess such as a multi-bar towel rack.

Market Report for January

Buyers felt slightly more optimistic to the start of 2013 than in the last few years.
Overall sales were up 3.8% in the Central Zone in comparison to the same month last year as reported by the Okanagan Mainline Real Estate Board.

In January, 219 properties traded hands in comparison to 211 in 2012. These sales represented a sales volume improvement of over 17% and equated to a dollar volume of $87.7 million in comparison to 2012’s dollar volume of $74.8 million. The continued low cost of borrowing buoyed demand as reflected in the total residential sales for last month rose 4.2% with 197 units sold versus 189 units sold in January of last year.

The sales volume for total residential sales also increased a significant 17.51% representing over $49 million in comparison to $42 million last year. The single family homes and townhouse sector showed an improvement of 4.9% and 16% respectively. The average for all types of Residences was also up 8.93% and came in at $394,815 in comparison to 2012’s $362,440 average.

This total takes into account all styles of residential living including mobile homes, duplex’s, recreational real estate, timeshares, apartments and townhomes. Values and marketing times vary depending on location, property type and price range.

New Listing in Ellison for $379,000.00

Immaculate Rancher Walkout with Spectacular Lake & Mountain Views! Huge 3080 SF 4 bed/3 bath home with nice updates. New Roof & Windows 2009. Water softener/Centra-Vac 2011 & Furnace & Double Garage door 2009. Large Master bedroom with Ensuite and walk-in closet. 2 Decks and total Privacy. Cable TV and RV parking is included in the low strata fee of $165/mth. 19+ Adult community. Close to Airport & University. Easily suited. Where can you buy a 3000 square foot Rancher Walkout home in mint condition with Lake and Mountain Views? Country View estates. Call Steve Higgins RE/MAX Kelowna 250-864-7893 for a private showing. Hurry, this is a great deal. Click on link for virtual tour http://marketing.remaxdesigncenter.com/95/128095/1860059/index.ipv

My Listing for this Week

 

#18 144 Sumac Ridge Drive, Summerland,BC $312,000.00 

Golf Course Living with a Lake View! Beautiful Town Home on the 5th Fairway. Large 1780 Sq. Ft. 3 bedroom, 2 bathroom with Office/Den. Huge east facing deck with Peek a Boo Lake & Golf Course Views. Entertaining size Living & Dining Rooms with Slate Fireplace. Galley Kitchen with Pot Lights & plenty of Cupboards & Counter Space. Single car Garage & Storage. Hot Water Baseboard Heating included in Strata Fees. Many updates. This is a rare opportunity in a great complex. Perfect for a relaxed lifestyle. Call Steve Higgins RE/MAX Kelowna 250.864.7893

Post from Scott Jenning Mortgage Specialist

Good morning,

A strategic idea for your clients to use when it comes to beefing up their down payment.

Clients are encouraged to speak with their accountant before proceeding.

This is designed for First Time Home Buyers who are eligible to draw 100% of their RRSP contributions up to $25,000

NOTE: Tax refund amount is based upon client’s annual income.

Idea:

Client is short on their Down Payment (DP) so they take their money in Savings and purchase an RRSP. Client files their taxes and receives a tax return.

Client places the tax return into their savings and on day 91 they are eligible to withdraw their RRSP for home purchase.

RRSP + Tax Return = DP for a home purchase.

You now have a home buyer ready in just 91 days with a solid down payment.

This scenario works nicely when the client along with their accountant can determine the size of the tax return.

Scott

Scott Jennings | Mobile Mortgage Specialist 

TD Canada Trust  | Okanagan

532 Yates Road, Kelowna, BC, V1V 2V8

PH - 250-864-4414 FAX – 866-810-9948 

scott.jennings@td.com 

Coldest Night of the Year Walk

There is going to be a challenge between Kelowna and Kamloops to see who can get the most participants out for the Coldest Night of the Year Walk on February 23rd 2013. In Kelowna, the fund-raising walk is being organized by the Gospel Mission's 30k club. The fund-raising walk in Kamloops is being coordinated by The New Life Mission. 

The competition is a friendly one that will benefit the very people both the organizations serve. The more walkers that come out the more money they will raise, the more help they then can provide to the who really need it.

Coldest Night of the Year is a non competitive 5(five) or 10(ten) km winter walk fundraiser for charities that serve the hungry, homeless and hurting in cities across Canada. The walk lets participants experience only for a few hours on a cold Canadian night the challenges faced by the homeless every night.

For more information go to http://coldestnightoftheyear.org/location/kelowna