The real estate market started slow this year but the numbers for July are showing some promise.
The last few months were soft but in the last couple of weeks we are seeing noticeably more buyers and increased activity across the board. Especially the last 2 weeks! All my listings are getting lots of activity and offers. I believe the Buyers were sitting on the fence wondering whether prices would go down and whether we are still getting smoke! Now they feel…. let’s buy! It will be very interesting to see how the numbers roll out over the next 30-60 days .
Sales are up! In all categories, sales were 545 units this month compared to 475 last year for a 14.9% increase. YTD sales are still below last year but improving. Prices are still below last year and
Annette was great to deal with and helped us find the perfect house. She was able to steer us in the right direction even when we were slightly unsure of what that direction was. I would definitely recommend her without hesitation.
Reviewed on Aug 12, 2019 by Jason Crighton
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Annette Denk - serving Kelowna – Lake Country - Vernon – Silver Star
Move Okanagan – Real Estate That Will Move You
As most of you are aware, the real estate market has changed somewhat. While it is not a strong buyer’s market, at this point, it is certainly no longer a Seller’s market either. Why the change?
In one word, Policy? All levels of government seem fixed on the plan to lower demand as a solution to rising prices. The flaw in this thinking is, by lowering demand (mortgage stress test, speculation tax, foreign buyer’s tax) there can be a negative impact on the overall economy.
Fewer sales and less new construction leads to reduced trades employment, reduced sales and services of things like appliances, furniture, flooring, movers and more. Such policy driven reductions will always create a drag on the economy and while we are still doing quite well in BC, as
It’s a common question for those navigating the real estate market — when is the best time of year to list or shop for a home in Kelowna, Lake Country or Vernon? The truth is that there isn’t a simple answer.
Much like the stock exchange, the real estate market is always active. Buyers search for homes year-round and many sellers list their homes when they are ready to do so, regardless of the time of year. With that said, some common trends can be perceived in terms of inventory, sales activity, days on the market, and so on. Days on the market vary from Kelowna to Vernon.
Looking at historical data from the Okanagan Mainline Real Estate Board’s Market Stats regarding single family residences in the Okanagan region from 2017 and 2018, a higher…
The Financial Post just released an article by Kevin Carmichael which states interest rates appear to be in a holding period until later in 2020. I hope this translates into a softening of the impact of the stress test implemented last year, and an encouragement for buyers hoping to secure a lower interest rate.
Most buyers (59.65%) as indicated in the OMREB quarterly March Buyer’s survey are still coming from within our area (Peachland to Revelstoke). This is followed by the Lower Mainland/Vancouver Island almost 15% and Alberta 9.65% respectfully.
Update on UBCO, "By 2040, our university will be a top-choice destination for students, not only from here and across Canada, but from around the world, "deputy vice chancellor Dr. Deborah Buszard told city
Spring is here in the Okanagan, and that means it’s the perfect opportunity to get your home ready for the months to come. Here are our top tips to get you started:
- Winter can take a real toll on a home’s exterior. Especially in higher elevation like Big White or Silver Star. Wood, stucco and other types of siding should be checked for cracks, peeling or chipped paint, and general wear and tear. Have damaged areas repaired and repainted as needed for lasting protection.
- Clean gutters and downspouts of any debris that may have collected over the winter. Check for any loose connections and adjust if needed.
- Check patios and walkways for cracks and any loose bricks. These are a tripping hazard that needs to be
You have decided to put your home in the Okanagan on the market with the hope of selling quickly for top dollar. Those are the goals of all sellers! Unfortunately, listing your home for sale is just the beginning of what could end up becoming a long and unpredictable process. One of the keys of home selling that can speed up or slow down the process is the negotiation.
The negotiation is one of the most crucial steps to determine the success of the deal. It has a direct impact on how fast your property sells and how much of a return on investment (if any) you will see. Sellers need to be open-minded as their attitude towards the negotiation process will dictate whether the transaction stalls or moves forward toward closing the sale.
I’m super proud to announce that I’m #3 in sales out of 150 agents in my office for 2018!
Thank you to all my clients! I’m very grateful.