May 2022 Real Estate Update

Dated: May 17 2022

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We see market conditions still shifting, being influenced by rising mortgage rates and a cooling of the market. Sales are down:  in Kelowna approx. by -20%, North Okanagan -25% and South Okanagan -32% comparing Sales to last year. In a way this is a good thing as we are shifting to a more balanced market. Homes are taking longer to sell, and we don’t see as many multiple offers on properties at the moment.This also means great Opportunities for Buyers! Listings are up approx. 9% from last year and numbers in listings are increasing. Buyers will be able to have more of a selection of homes, take more time to decided and can be more strategic with their offers. Prices have not come down and are stable.I often get asked about Investment Opportunities in Canada and with our high prices it is harder to make good returns and cash flow investments in our local market. I looked outside the box and connected with a fabulous outside Canada Team that specializes in USA and MEXICO INVESTMENTS that show net returns from approx. 20% to 35%, with only a 20% down payment.One of the challenges for purchasing properties across the Canadian border is that there are a lot of moving parts. How do you find the right properties? How do you navigate the legality and tax topics? And how do you find the right Real Estate Agents & dedicated Power Team to assist with the process so that it is streamlined and turn-key?  All this will be offered and taken care for you, the mortgage application, Lawyer, Accountant, local realtors, furniture selection, property Mgmt. and reports. All done for you. There were 8,800 properties bought by Canadians across the border in 2021.The best part, use the property whenever you want to. Escape, take the whole family, or work remotely from your beautiful new property and take in the warmer weather. Beautiful and affordable cash flowing properties are plentiful down South if you know where to look, and they have extensively researched the very best areas for the highest return on investment.Top of the list is Arizona, Florida, Texas and Cabo, for the highest return. These locations are absolutely fantastic as they either hold their value extremely well, generate strong cash flow returns, and are located in sub-areas that are poised for appreciation and strong economic growth. All freehold properties rented out with Air B&B and huge returns. This cash income you can use to pay off your Canadian mortgage, save it, pay down other properties or use it for whatever you would like. Take advantage of the tax write offs as well. Their team is here for you every step of the way, from specialized accountants to tax lawyers, to cross border mortgage specialists, and tech savvy property managers with committed managers in each area, the Cross Border program helps you create wealth and expand your property portfolio in the most protected way possible. Minimum investments start at $US 400,000.- to $US 900,000.- or more.  20% down payment required. (does not matter where the deposit comes from)If you would like to find out more about this unique investment opportunity please email me back and I can set up a detailed zoom or phone call with this powerful XBorder Team. Sample link: Home in Arizona:  The below home makes over $3000 NET USD cashflow per month after expenses.https://www.airbnb.ca/rooms/53416864?locale=en&_set_bev_on_new_domain=1637620321_ODM4MDFlMzQ5Mjk0&source_impression_id=p3_1644866132_Plip5qwqQGC2xT63Sample property: CORA SAN JOSE DEL CABO

CORA SAN JOSE DEL CABO -  LIFESTYLE ENHANCEMENT & AIRBNB REVENUE PROPERTYPrices range from mid $400's USD to mid/high $600s for penthouses with 1500 sq ft roof decksAll units are 3 bedrooms + spacious family TV room that easily could have a pull out couch bed to maximize ROI2.5 bathrooms with large wooden terraces 1850 sq ft with two side by side underground parkingLet’s hope for warmer weather soon! Always working in your best interest.Please see the latest Okanagan Statistics for Sales and Prices below...Best wishes,

Annette with Chad, Scott, Mike and GaryQuote of the day: Don't be pushed around by the fears in your mind. Be led by the dreams in your heart.

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Move Okanagan Group – serving Kelowna – Lake Country – Vernon – Silver Star

 

www.moveokanagan.com

Not intended to solicit properties currently listed for sale/under contract. Based on MLS® active residential listings taken & sold units as reported by Association of Interior Realtors® in 2022 and YTD April 2022 for Central Okanagan.

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Annette Denk

Annette has been in Real Estate since 1994. Her determination to uphold a tradition of trust, integrity, and expertise has earned her a long list of satisfied clients who recommend her at every opport....

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