This blog deals with things that may be of interest to those looking at Relocation or Real Estate in the Canada, and specifically the Okanagan area of BC. When it comes to real estate and okanagan living - we've got you covered.
Monday, September 28, 2009
Last Week in North Okanagan Real Estate - Sept. 28, 2009
Last week was the busiest of the past few in North Okanagan Vernon BC and area real estate. Here is a look at what sold between September 21 and September 27, 2009.
Lots and Acreages:
A total of 7 properties for sale moved to sold status The median sale price of lots and acreages sold was $160,000 with a median list price of $169,900. Of these, 6 lots were sold and one 5 acre parcel in BX. List prices ranged from $79,000 for a lot in Falkland BC to $250,000 for a .36 acre lot in the Foothills neighbourhood in Vernon. On Average the properties that sold had been currently listed for 161 days with listings ranging from .20 days to 468 days. Sellers accepted an average of 89.3% of the current list price on the lots and acreages sold with a range of 69.6% to 97%.
The Acreage was listed at $249,000 and sold for $233,000 after a current list period of 140 days.
Manufactured Homes:
One manufactured home sold in the past week. It was listed for $74,900 and sold for $65,000 after 217 days on the market with the seller accepting 86.8% of current list price.
Single Family Residential Homes:
In the past week, 23 homes for sale in Vernon BC and the surrounding North Okanagan communities moved to sold status. These homes were on the market an average of 125 days and sold for median sales price of $316,500 on a median list price of $327,500.
Listing prices for the homes that sold ranged from $224,900 to $1,950,000 and the corresponding sale prices ranged from $217,000 to $1,540,000. Two sellers realized 100% of their list price in the single family home for sale market this past week. On average sellers accepted 94.9% of the current listed price with the lowest accepted price reflecting 78.7% on a 40 acre parcel that was a former dairy farm. Four properties sold for more than $500,000 including 2 that sold for more than $1,200,000.
Strata properties:
In the sector of Vernon BC and North Okanagan real estate that includes apartments, condos, and attached, semi detached and detached townhomes, 4 properties moved from for sale to sold status.
These properties had current listings that averaged 260 day in length. The middle or median list price was $204,200 and the median sale price was $196,450. Days on the market ranged from 51 to 481.
On average - sellers accepted 94.6% of the current list price for strata homes. The amounts accepted ranged from 87.3% to 98.5% of the last listed price. List prices ranged from $75,000 to $375,500 with sales of from $65,500 to $370,000.
So far in September in Vernon BC and the surrounding North Okanagan communities, 157 sales transactions have occurred.
21 Lots and acreages have sold
13 Manufactured homes,
97 Single family residential homes and
26 strata properties.
This is very strong activity and already surpasses the August totals substantially in the Residential home market. We will have September numbers available after October 5th.
Warmest regards,
Thursday, September 24, 2009
Heels on Fire! Support Teen Junction Youth Centre - AND get shoes AND a photo with a FIREMAN.. win win win!
My friend Caroline whispered something to me at the last Business After Five event up at Okanagan College about an idea she had. These events are always busy and I could not really hear what she said
... something about...
Firemen - ok that got my attention
Teen Junction funding challenges.... WHAT! Cuts to a teen literacy program – that just did not make sense... then she said something about
RED SHOES... and photos. And would I and I of course said I would.... 
A few days later I got a voice mail from Debbie Schiller from Teen Junction talking “Heels On Fire” about these hundreds of pairs of red shoes and firemen and a fire truck and thanking me for being a part of it and I wondered what on earth I had gotten involved in!! Truth be told I always wanted to photograph firemen....
The following article was written by Cara Brady of the Vernon Morning Star Newspaper
If the shoe fits, make a donation to the Teen Junction Youth Centre and receive a pair free.
The Heels on Fire fundraiser was sparked when Caroline Radics of Rea Financial Services bought 405 pairs of red hot and steamy black patent sandals online with the idea of doing some kind of local fundraiser.
Then her daughter, Holly Thibault, had to do a community-centred project for her Global Education class at Fulton school and Radics heard that the Teen Junction Literacy Centre might have to close due to lack of funding. They agreed that this was the project they were looking for.
“I had a vision that women would like to buy red shoes from firemen,” said Radics.
And that’s what is going to happen Oct. 3 at the Village Green Hotel parking lot when volunteer firefighters help women try on the shoes that are gifts with a suggested donation of $25 to Teen Junction.
Heels on Fire is getting a lot of support from the community with Wendy’s Old Fashioned Hamburgers providing free refreshments and Brenda Ellis of Okanagan Real Estate Hub Century 21 taking a free photo of each woman with her new shoes and a firefighter.
The Vernon Chamber of Commerce is supporting the event.
“We want to see the youth centre continue in the community to help keep kids occupied and focused,” said Val Trevis of the chamber.
Debbie Schiller, executive director of the Junction Youth Centre, is grateful for the enthusiasm for the centre, which was in danger of having to close as early as October because of funding cuts. The fundraiser will be a big help and there is more good news.
“The City of Vernon finance committee has approved our application for a discretionary grant and this will be presented to council Oct. 13. The staff at the provincial gaming office has told us that our Direct Access application has been received and we will know their decision by the end of October,” said Schiller.
“When I got the call from Caroline about Heels on Fire, I was delighted with this unique fundraiser. It should be a lot of fun and, if we get other funding as well, will allow us to keep the drop-in centre open for another year while we look at core funding options.”
The Junction Youth Centre is open to youth ages 14 to 18 with a safe, caring environment providing two free, hot meals per week and teaching cooking and other life skills, as well as volunteer opportunities and workshops. For more information see www.junctionyouth.ca.
Heels on Fire takes place Oct. 3 from 9 a.m. to 2 p.m. or for as long as the shoes last. Shoes (sizes 6-10) can be pre-ordered or come in to the Junction Youth Centre at 3104-37th Ave. from 8:30 a.m. to 4:30 p.m. Monday to Thursday. For more information contact 250-275-3117 or email info@junctionyouth.ca.
I have already got my new red shoes! They are so much fun!
Warmest regards,
3 bedroom 2.5 bath home on 1.47 acre in Vernon BC's Okanagan Landing
Check out this unique architecturally designed Okanagan lake view home. Bright natural lighting with Skylights. Beautifully landscaped 1.47 acres. Detached suite able guest loft below garage. Large Patio, with covered area including irrigation. Wired for hot tub. Granite, hardwood, jetted tub, and other high end finishing’s throughout.
Warmest regards. See you online,
Brell ~ Brenda Ellis REALTOR with TheOkanaganRealEstateHub @ Century 21 Executives Realty Ltd
2907 - 32nd St.
Vernon, BC V1T 5M2
(250)550-2161 Direct Dial
(250)549-2103 Office Reception
1-877-227-4073 Toll Free
(250)308-4310 SMS
Tuesday, September 22, 2009
Iconic Canadian Lifestyle Acreage for sale in the Okanagan
In the distance – the whirr of a chainsaw buzzes gently as a neighbour prepares for the arrival of the first snowfall of winter. It seems almost unthinkable when I sit on the deck of this log home on this Indian summer day amidst the long autumn shadows tuned in to the gentle symphony of the water features that anyone could possibly want to leave this piece of the Canadian Dream. I love this property. I have ever since I first encountered it in 2006.
Located just outside the City of Armstrong BC – close enough to have Pizza delivered – and within the 8 km radius of the fire department lie almost 7 flat acres –partially cleared, some tamed and landscaped and yet naturally treed along the creek banks this property begs to be explored.
There is a peace and serenity – a one-ness that only a log home in a natural setting such as this can provide. The smell of the forest surrounds. Crisp yet subtle as the fall season slowly pulls the last long rays of the summer sun.
Iconic Canadian Lifestyle.
The home here is almost 2500 square feet on 3 levels. Cozy, rustic and un-staged living happens here. The Loft bedroom easily accommodates a queen bed and bunk beds for your company – or imagine a settee and quiet reading area or studio desk.
On the main floor – the open concept living room with vaulted ceiling and slate fireplace blend seamlessly through the dining area and country kitchen. The heated slate tile warms the kitchen floor ensuring your comfort while a propane fireplace gently emanates a warmth amplified by the hand hewn log walls.....
See our video posts of this listing and feel free to contact me for more details.
Sunday, September 20, 2009
Real Estate in the North Okanagan Sept. 14- 20 - 2009
It was another steady week in North Okanagan real estate sales, with our search showing 28 properties achieving the Sold status. Here is an overview of what things looked like in Vernon BC and surrounding area real estate.
For more details about specific properties check out What SOLD this week.
Lots & Acreages:
2 properties sold after an average of 142 days as active listings. The median list price of these properties was $249,000 and the median sale price was $240,000. On average the seller accepted 96.7% of asking price. One of these properties was a small acreage in Spallumcheen overlooking Okanagan Lake.
Manufactured Homes:
The manufactured homes that sold were listed for a range of 34 to 316 days. The 4 manufactured homes sold averaged a list period of 141 days. The median list price of manufactured homes sold was $146,900. Manufactured homes sold last week for a median sale price of $128,500. Sellers accepted an average of 89.2% of asking price with individual results ranging from a minimum 81% to a high of 103.3% indicating a multiple offer situation.
Single Family Residential Homes:
Single family is the largest category of property type. It includes duplex and triplex as well as residences on acreages. Fourteen homes listed for sale in the North Okanagan sold in the last week. These homes reflected list periods of from 13 to 374 days with the average number of days for a home on the market in the North Okanagan equalling 118. The median or middle of the range of list prices for the homes for sale that sold last week was $354.250 and the corresponding median sale price was $340,000. Sale prices on single family homes ranged from $172,500 to $665,000 on list prices ranging from $182,999 to $669,900. On average sellers accepted 97.3% of the list price. Single family homes sellers obtained a range of from 92.8% of asking to a maximum of 101.8%. Two properties sold for 100% or more of asking price.
Strata Properties:
The results for strata properties include apartments, townhomes,(attached, semi detached and detached) and condos. The past week saw 8 properties of this kind move to sold status in the North Okanagan. On average these properties showed an active list period of 109 days with durations ranging from 13 - 356 days. The median list price was $225,950 and median sold price equalled $217,000. Sold prices ranged from $118,000 to $410,000 with sellers realizing an average of 95.4% of list price in a range of from 87.5% to 100%.
| North Okanagan Properties Sold | ||||||||
| Sept 14 - 20, 2009 | ||||||||
| Status = Sold | ||||||||
| DOM | Type | Price | Sold Price | Address | City | |||
| Residential Type = Lots and Acreages | ||||||||
| 124 | Lots and Acreages | $199,000.00 | $195,000.00 | 7104 Jasper | Vernon | |||
| 159 | Lots and Acreages | $299,000.00 | $285,000.00 | 427 Lot 7 Golfview | Spallumcheen | |||
| Average | 141.5 | Median Price | $249,000.00 | $240,000.00 | ||||
| Residential Type = Manufactured Home | ||||||||
| 316 | Manufactured Home | $32,500.00 | $28,000.00 | 15401 171 Kalamalka Lake | Coldstream | |||
| 34 | Manufactured Home | $109,900.00 | $95,000.00 | 4137 38 Spallumcheen | Armstrong | |||
| 151 | Manufactured Home | $199,900.00 | $162,000.00 | 6688 74 Tronson | Vernon | |||
| 63 | Manufactured Home | $183,900.00 | $189,900.00 | 549 Mountview | Vernon | |||
| Average | 141 | Median Price | $146,900.00 | $128,500.00 | ||||
| Residential Type = Single Family Residential | ||||||||
| 63 | Single Family Residential | $182,999.00 | $172,500.00 | 733 Franklyn | Lumby | |||
| 34 | Single Family Residential | $249,900.00 | $232,000.00 | 4410 20th | Vernon | |||
| 59 | Single Family Residential | $249,000.00 | $247,500.00 | 1702 31 | Vernon | |||
| 140 | Single Family Residential | pppp |
Who Is Saying What About Real Estate and the Economy
Okanagan Real Estate News
What SOLD in North Okanagan real estate – Sept 20 (The OkanganRealEstateHub.com)
Okanagan Shuswap Inventory Watch (OkanaganMarketStats.com)
Canadian Real Estate News
The Bidding War is Back (Globe and Mail National)
Low interest rates and one third less inventory has Vancouver buyers rushing for their chequebooks afraid to wait for “the perfect house.”
Mortgage Rate Forecast ( BCREA)
The BC Real Estate Associations (BCREA)expects a low interest rate environment to persist through 2009 and into 2010. Mortgage rates are forecast to fluctuate within a narrow range near current levels for the remainder of the year, before rising modestly through 2010 as the economy improves.
GTA home sales rise 27% (Toronto Star)
"Low interest rates and affordability continue to attract homebuyers to the housing market. Consumer confidence continues to rise, which bodes well for activity in the coming months," said CREA president Dale Ripplinger.
July breaks nine-month decline in home prices (Toronto Star)
Across Canada, contractors selling prices increased in July, the first time since last September.
August sales heat up our housing market (Toronto Star)
This article was written for the Toronto and Ontario audience... but guess which province leads the annual percent of change at 65.4%?
Canadian home sales remain strong (Globe and Mail)
The market remains buoyant, “led by a powerhouse performance in Vancouver, up a cool 117 per cent year over year,” Mr. Porter said.
With mortgage rate, it’s strategy time s dropping (Globe and Mail)
Can variable-rate mortgages fall back to their pre-crisis lows any time soon?
Fall Real Estate Roundtable (National Post)
In a riotous ‘reply all’ e-mail exchange, Toronto experts reassess the market. Interesting to see the difference between projection and reality.
US Real Estate News
U.S. housing industry climbing out of its hole
Across the country, builders broke ground on homes and apartments at an annual rate of 598,000 in August, up 1.5 per cent from July to the highest level in nine months.
Economic News
Recession probably over: Bernanke (Globe and Mail)
Federal Reserve Chairman says U.S. economy likely growing now but unemployment still to rise
Dollar hits highest mark in 11 months (Globe and Mail)
Driven by a brighter economic outlook and gains in oil, loonie vaults above 94 cents
Canadian household wealth rebounds (Globe and Mail)
For the first time in three quarters, Canadian household net worth grew, reflecting stock market gains; use of credit also increased, but this was more than offset by asset growth.
Sept. 20, 2009 This week in Real Estate and the Economy.
Here is our weekly synopsis of news affecting real estate and the economy on both sides of the 49th.
Okanagan Real Estate News
What SOLD in North Okanagan real estate – Sept 20 (The OkanganRealEstateHub.com)
Okanagan Shuswap Inventory Watch (OkanaganMarketStats.com)
Canadian Real Estate News
The Bidding War is Back (Globe and Mail National)
Low interest rates and one third less inventory has Vancouver buyers rushing for their chequebooks afraid to wait for “the perfect house.”
Mortgage Rate Forecast ( BCREA)
The BC Real Estate Associations (BCREA)expects a low interest rate environment to persist through 2009 and into 2010. Mortgage rates are forecast to fluctuate within a narrow range near current levels for the remainder of the year, before rising modestly through 2010 as the economy improves.
GTA home sales rise 27% (Toronto Star)
"Low interest rates and affordability continue to attract homebuyers to the housing market. Consumer confidence continues to rise, which bodes well for activity in the coming months," said CREA president Dale Ripplinger.
July breaks nine-month decline in home prices (Toronto Star)
Across Canada, contractors selling prices increased in July, the first time since last September.
August sales heat up our housing market (Toronto Star)
This article was written for the Toronto and Ontario audience... but guess which province leads the annual percent of change at 65.4%?
Canadian home sales remain strong (Globe and Mail)
The market remains buoyant, “led by a powerhouse performance in Vancouver, up a cool 117 per cent year over year,” Mr. Porter said.
With mortgage rate, it’s strategy time s dropping (Globe and Mail)
Can variable-rate mortgages fall back to their pre-crisis lows any time soon?
Fall Real Estate Roundtable (National Post)
In a riotous ‘reply all’ e-mail exchange, Toronto experts reassess the market. Interesting to see the difference between projection and reality.
US Real Estate News
U.S. housing industry climbing out of its hole
Across the country, builders broke ground on homes and apartments at an annual rate of 598,000 in August, up 1.5 per cent from July to the highest level in nine months.
Economic News
Recession probably over: Bernanke (Globe and Mail)
Federal Reserve Chairman says U.S. economy likely growing now but unemployment still to rise
Dollar hits highest mark in 11 months (Globe and Mail)
Driven by a brighter economic outlook and gains in oil, loonie vaults above 94 cents
Canadian household wealth rebounds (Globe and Mail)
For the first time in three quarters, Canadian household net worth grew, reflecting stock market gains; use of credit also increased, but this was more than offset by asset growth.
Friday, September 18, 2009
20 Rural Okanagan Acres with 3 bedroom home and guest cabin for sale
Guest cottage too!
• 2,100 square foot 3 bedroom single story home for sale - 
MLS® $389,800 - 20 Acres in the Okanagan Shuswap
Falkland BC, Columbia-Shuswap Regional District - This 20 acre parcel of Okanagan Real Estate is offered for sale in the community of Falkland, BC. Falkland is about a 30 minute drive from Vernon BC. Governance wise this community is part of the Columbia Shuswap Regional District. If your search for Okanagan or Shuswap real estate has you looking for a private acreage consider 3925 Maddox Road. Located outside the Community of Falkland - off Chase-Falkland Road heading toward the Shuswap. This property has a main residence, guest cabin and other out buildings. The main 3 bedroom house is a cozy home that features an open layout full of country charm. Yes - It needs some TLC. The acreage is very private. It is a hillside / rolling hills property. There is a gravel pit on the property, tool shed and more. Guest cottage, gravel pit and tool shed make this a property well worth checking out. A true sanctuary.
Warmest regards,
Brell with
The Okanagan Real Estate Hub - Century 21 Vernon, BC
Brenda Ellis
Sunday, September 13, 2009
Who's Saying What About Real Estate and the Economy Sept. 13 2009 Edition
Here is a look at some of the information we found of interest this week that relates to real estate and the economy:
Okanagan Real Estate News
CLUE – August 2009 North Okanagan Market Report an overview of the residential real estate market activity in the North Okanagan Real Estate
Real Estate in the North Okanagan Trend Spotting - August 2007 – August 2009 a look at key market indicators such as inventory levels and absorption rates and how they impact prices.
What Sold Last Week in the North Okanagan
Canadian Real Estate News
Canada does battle with Rogers (Canada.com)
Even Canada's real estate industry questions housing turnaround (Financial Post)
Housing affordability improves, RBC says (CBC)
Housing affordability hits levels not seen in 5 years (Canada.com)
Canadian home construction surges (Globe and Mail)
Economic News
Get ready for steep rate hikes in 2011: economist (Financial Post)
Bank of Canada fears loonie's strength will undercut growth (Toronto Star)
Carney sees recovery on the horizon (Globe and Mail)
Warmest regards. See you online,
Brell ~ Brenda Ellis REALTOR with Okanagan Heat @ Century 21 Executives Realty Ltd
Century 21 Executives Realty Ltd.
2907 - 32nd St.
Vernon, BC V1T 5M2
(250)550-2161 Direct Dial
(250)549-2103 Office Reception
1-877-227-4073 Toll Free
(250)308-4310 SMS
Friday, September 11, 2009
A CLUE to the North Okanagan Real Estate Market
Here is our Cool Little Update Electronically about what happened in the North Okanagan real estate market from August 1 – 31 2009
| Residential |
|
| New Listings | 149 |
| Listings Sold | 66 |
| Median Price | $347,000 |
| Range | $95,000-$2,500,000 |
| Days to Sell | 102 |
| Range | 8 - 508 |
| Inventory | 722 |
| Hottest Neighbourhood | East Hill |
| Condo / Apartment |
|
| New Listings | 28 |
| Listings Sold | 9 |
| Median Price | $141,000 |
| Range | $98,000-$319,000 |
| Days to Sell | 182 |
| Range | 10 - 182 |
| Inventory | 161 |
| Hottest Neighbourhood | Centennial / 28 A |
| Condo / Townhouse |
|
| New Listings | 37 |
| Listings Sold | 37 |
| Median Price | $243,000 |
| Range | $98,000 - $905,000 |
| Days to Sell | 118 |
| Range | 10 - 499 |
| Inventory | 218 |
| Hottest Neighbourhood | Bella Vista |
| Building Lot |
|
| New Listings | 42 |
| Listings Sold | 8 |
| Median Price | $230,875 |
| Range | $90,000-$285,000 |
| Days to Sell | 334 |
| Range | 42-776 |
| Inventory | 588 |
| Hottest Neighbourhood | Adventure Bay, Enderby, Lumby |
Warmest regards. See you online,
Brell ~ Brenda Ellis REALTOR with Okanagan Heat @ Century 21 Executives Realty Ltd
Century 21 Executives Realty Ltd.
2907 - 32nd St.
Vernon, BC V1T 5M2
(250)550-2161 Direct Dial
(250)549-2103 Office Reception
1-877-227-4073 Toll Free
(250)308-4310 SMS
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