March 1, 2009 Vernon Sunday Drive

Hi! We just posted information on the more than 50 open houses sheduled for March 1, 2009 on our Vernon Sunday Drive Map.

Be in the know before you go! The properties are listed by price point and color coded to make finding out about neighbourhoods as easy as we can.

The map is under ongoing revision - and we'd love to hear your comments and suggestions as we develop our "Mouse to House Information Systems"

Tax Deductable Mortgage Interest... Interesting

I had the opportunity today to sit in on a presentation sponsored by Krystine McInnes of Dominion Lending Centres that introduced a product called TDMP - Tax Deductable Mortgage Plan and found it very interesting indeed.
A little bit of background before we get to the seminar - I have known Krystine for about 5 years, prior to her becoming a Mortgage Broker and me becoming a Realtor. We - in fact - delivered my grandson Logan together.. (the hot doctor just caught the baby.) I know many mortgage specialists - and Krystine arranged my last mortgage 3 years ago. It is up for renewal April 1st.. (WHO does that?) So I am in the market for a mortgage in the imminent future.
Here is a cool little graphic from the presentation.

Now.. I don't have near the expertise to explain the concepts to you at this point but I am going to look further into this and work with Krystine to bring you more information.
Here is a link to Krystines Website
Meanwhile - here is a blog article as part of due diligence and here is some info on Cash Damming
Here is a link to the INCOME TAX ACT and here is the Bulletin IT-533 in PDF.
I have asked for a followup appointment to learn more.. and will share what I find. Meanwhile - check it out for yourself and let me know what your thoughts are.

Who's Saying What - Feb. 22, 2009

Here is an assortment of links collected over the week about Real Estate and the Economy:

Canadian Real Estate News
This Week In North Okanagan Real Estate (OkanaganHeat.com)
Feb 15 –Feb 20 in North Okanagan Real Estate in Perspective.. 2000-2009 ( OkanaganHeat.com)
BC Home Sales Start With A Whimper in 2009(BCREA)
A BUILDING BOOM GOES SILENT (Globe and Mail)
Home building to fall by 25%, CMHC says (Globe and Mail)
Flips are not flops, even in slower market (Globe and Mail)
Canadian lender sees bottoming in housing market (National Post)
House prices could slide further: Report (Toronto Star)
Resale Home Prices in Canada to Drop 5% in 2009, CMHC Says (CEP News)
2009 Canadian Housing Predictions: Good, Bad and Ugly (Vaughan Blog)
Fixed or Variable? Updated Perspectives (Canadian Mortgage Trends)
Waiting for Better Fixed Rates (Canadian Mortgage Trends)

US Real Estate News
U.S. housing starts, permits plumb record lows (Reuters)
Obama’s $75 Billion Foreclosure Plan Spells Relief for Bankers (Bloomberg)

Economic News
Canadians optimistic about the economy's future: Ekos poll (CBC)
Bank economists cut Canadian outlook (National Post)
What Obama Can Learn on His Trip to Canada (Huffington Post)

A Look at This Week In North Okanagan Real Estate in Perspective.. 2000-2009

I just ran the report for single family dwelling sold in February of 2008, and the Median Sale Price was $374,000 -Leading me yet again to think of that episode of Dallas ( Yes - I know this dates me) where Pam woke up and Bobby was in the shower, and the whole season before had just been a dream.....

I wanted to share a chart that shows the comparison between the number of properties being activated and the number of properties being sold now that I have several weeks of data - it makes for a more interesting chart.




It is really good to see the number of sales inching closer to the number of activations! This past week was the busiest so far this year for Single Family Dwelling sales - at 10 and the second lowest listing week for this market type with only 23 new activations.


In 2008, 26 new activations took place between Feb. 14 and Feb 20 and 13 properties sold.
Lets look back to see what the years previous showed at this point in time:
In 2007, 35 new activations and 24 sold with the average price per square foot of finished floor area being $197.09 In 2009 the average price per square foot of finished floor area was $190.06. I t is important to keep in mind that looking at the average does not mean we are comparing apples to apples...
In 2006, 36 activations and 28 sold
In 2005, 27 activations and 29 sold - of the 29 sold, over half had been on the market for 31 days or less - compared to this year where 6 of the 10 sales had been on the market for more that 100 days and only 2 sold within the first month.
In 2004, 42 activations and 18 sold
In 2003, 27 activations and 20 sold
In 2002, 23 activations and 18 sold
In 2001, 22 activations and 9 sold
In 2000 only 8 activations and 9 sold.
The median sale price for these 9 properties was $139,900 - compared to the median in 2009 of $374,750 which brings me back to that episode of Dallas....

Price Changes In North Okanagan Real Estate Feb. 16, 2009

Here is a list of price adjustments from Century 21 Executives Realty Ltd. Click on the addresses for photos and property details.
# 205 - 7922 Okanagan Land. Rd., Vernon
Was $ 529,000 Now $ 524,000 - Enjoy the Resort Lifestyle just minutes from Vernon at the Mandalay: Elegant semi-lakeshore living, deluxe 2-bdrm, 2-bath + den apt. with large patio and fabulous lake views. Resort will include amenities such as pool and exercise room.
9920 Hill Drive, Vernon
Was $ 420,000 Now $ 399,000 -Updated 4 bedroom home with new kitchen cupboards, countertops and flooring. 999 sq. ft 220 wired shop plus a 3 bay equipment shed almost an acre of level land. Great location, great price! Bring all offers, motivated vendors must sell quickly- relocated!
2805 25 St., Vernon
Was $ 329,900 Now $ 319,900- This 1940s character home has been lovingly restored. Original hardwood floor with inlay in livingroom and entrance, original soaker tub. The open upstairs would be perfect for an office. New 1 Bdrm Bsmnt Suite, a mortgage helper
Lot 1, 5720 Hartnell Rd., Vernon - The Okanagan's most affordable piece of Paradise! Backed by crown land - outdoor enthusiast's playground. No building scheme so bring your ideas and your toys. Lots of room to live the life you have always dreamed of
Was $ 274,900 Now $ 339,900
Lot 2 - 5720 Hartnell Road, Vernon -Was #$ 274,900 Now $ 299,900
Lot 5, 5720 Hartnell Rd., Vernon -Was $ 274,900 Now $ 299,900
Lot 6, 5720 Hartnell Rd., Vernon - Was $ 274,900 Now $ 369,900
Lot 7, 5720 Hartnell Rd., Vernon - Was $ 274,900 Now $ 329,900
Lot 3, 5720 Hartnell Rd., Vernon - Was $ 274,900 Now $ 284,900
Lot 4, 5720 Hartnell Rd., Vernon - Was $ 274,900 Now $ 349,900
983 Mt. Bulman Drive, Vernon OPEN HOUSE SUNDAY from 1:00-3:00
Was $ 424,900 Now $ 414,900, -Shows beautifully! Upper Main flr living with ground level tastefully finished. New floors throughout; new paint on main, FP, B-I Vac, C/A, 6 appliances included. Large fenced back yd with gardens.
3891 Hwy 97B S.E., Salmon Arm
Was $699,000 Now $649,000 -Great Investment for Home Based Business,.Designated Future Industrial Develop. Property,Shop,Heated Garage, Comfortable Rancher w/ Basement,Hot Tub,Treed ,Fenced,Gate & Privacy....
519 Muir Rd., Vernon
Was $ 449,000 Now $ 399,000 - One-of-a-kind log and cedar home has 12" log frame and bright open rooms. On 0.35 acre wooded corner lot, just minutes from the beach, and great lake view. Sale incl. truck w/ canopy, 53" TV, new washer/dryer, and ride-on mower. Call!
5192 Haynes Rd., Vernon
Was $ 435,000 Now $ 425,000 - Professionally Renovated Family Home
Contact Us for more details or to view property at your convenience.

Market CLUE - North Okanagan Real Estate January, 2009

To give you an insite as to what is going on in Okanagan Shuswap Real Estate - we have created our Market CLUE ( Cool Little Update Electronically) Here is an at a glance snapshot of what happened in the North Okanagan Real Estate Market last month:

Residential

New Listings
112
Listings Sold
26
Median Price
$335,000
Range
$99,900 - $1,300,000

Days to Sell - Average
138
Days to Sell - Range
5 - 337
Inventory
654
Hottest Neighbourhood
Coldstream

Condo / Apartment

New Listings
16
Listings Sold
3
Median Price
$164,000
Range
$110,000-$177,000
Days to Sell - Average
95
Days to Sell - Range
15 - 167
Inventory
140
Hottest Neighbourhood
mixed

Condo / Townhouse

New Listings
23
Listings Sold
9
Median Price
$296,000
Range
$85,000 - $385,574
Days to Sell - Average
145
Days to Sell - Range
13 - 300
Inventory
189
Hottest Neighbourhood
City of Vernon

Building Lot

New Listings
24
Listings Sold
0
Median Price
-
Range
-
Days to Sell - Average
-
Days to Sell -Range

Inventory
293
Hottest Neighbourhood
-

We are happy to provide you with a Personalized Market Snapshot - PMS was never like this before! Just click or call and we'll run numbers for your specific real estate situation. To give you an insite as to what is going on in Okanagan Shuswap Real Estate - we have created our Market CLUE ( Cool Little Update Electronically) Here is an at a glance snapshot of what happened in the North Okanagan Real Estate Market last month:
Residential

New Listings
112
Listings Sold
26
Median Price
$335,000
Range
$99,900 - $1,300,000
Days to Sell - Average
138
Days to Sell - Range
5 - 337
Inventory
654
Hottest Neighbourhood
Coldstream

Condo / Apartment

New Listings
16
Listings Sold
3
Median Price
$164,000
Range
$110,000-$177,000
Days to Sell - Average
95
Days to Sell - Range
15 - 167
Inventory
140
Hottest Neighbourhood
mixed

Condo / Townhouse

New Listings
23
Listings Sold
9
Median Price
$296,000
Range
$85,000 - $385,574
Days to Sell - Average
145
Days to Sell - Range
13 - 300
Inventory
189
Hottest Neighbourhood
City of Vernon

Building Lot

New Listings
24
Listings Sold
0
Median Price
-
Range
-
Days to Sell - Average
-
Days to Sell -Range

Inventory
293
Hottest Neighbourhood
-

We are happy to provide you with a Personalized Market Snapshot - PMS was never like this before! Just click or call and we'll run numbers for your specific real estate situation.
To give you an insite as to what is going on in Okanagan Shuswap Real Estate - we have created our Market CLUE ( Cool Little Update Electronically) Here is an at a glance snapshot of what happened in the North Okanagan Real Estate Market last month:
Residential

New Listings
112
Listings Sold
26
Median Price
$335,000
Range
$99,900 - $1,300,000
Days to Sell - Average
138
Days to Sell - Range
5 - 337
Inventory
654
Hottest Neighbourhood
Coldstream

Condo / Apartment

New Listings
16
Listings Sold
3
Median Price
$164,000
Range
$110,000-$177,000
Days to Sell - Average
95
Days to Sell - Range
15 - 167
Inventory
140
Hottest Neighbourhood
mixed

Condo / Townhouse

New Listings
23
Listings Sold
9
Median Price
$296,000
Range
$85,000 - $385,574
Days to Sell - Average
145
Days to Sell - Range
13 - 300
Inventory
189
Hottest Neighbourhood
City of Vernon

Building Lot

New Listings
24
Listings Sold
0
Median Price
-
Range
-
Days to Sell - Average
-
Days to Sell -Range

Inventory
293
Hottest Neighbourhood
-

We are happy to provide you with a Personalized Market Snapshot - PMS was never like this before! Just click or call and we'll run numbers for your specific real estate situation.
To give you an insite as to what is going on in Okanagan Shuswap Real Estate - we have created our Market CLUE ( Cool Little Update Electronically) Here is an at a glance snapshot of what happened in the North Okanagan Real Estate Market last month:
Residential

New Listings
112
Listings Sold
26
Median Price
$335,000
Range
$99,900 - $1,300,000
Days to Sell - Average
138
Days to Sell - Range
5 - 337
Inventory
654
Hottest Neighbourhood
Coldstream

Condo / Apartment

New Listings
16
Listings Sold
3
Median Price
$164,000
Range
$110,000-$177,000
Days to Sell - Average
95
Days to Sell - Range
15 - 167
Inventory
140
Hottest Neighbourhood
mixed

Condo / Townhouse

New Listings
23
Listings Sold
9
Median Price
$296,000
Range
$85,000 - $385,574
Days to Sell - Average
145
Days to Sell - Range
13 - 300
Inventory
189
Hottest Neighbourhood
City of Vernon

Building Lot

New Listings
24
Listings Sold
0
Median Price
-
Range
-
Days to Sell - Average
-
Days to Sell -Range

Inventory
293
Hottest Neighbourhood
-

We are happy to provide you with a Personalized Market Snapshot - PMS was never like this before! Just click or call and we'll run numbers for your specific real estate situation.v To give you an insite as to what is going on in Okanagan Shuswap Real Estate - we have created our Market CLUE ( Cool Little Update Electronically) Here is an at a glance snapshot of what happened in the North Okanagan Real Estate Market last month:
Residential

New Listings
112
Listings Sold
26
Median Price
$335,000
Range
$99,900 - $1,300,000
Days to Sell - Average
138
Days to Sell - Range
5 - 337
Inventory
654
Hottest Neighbourhood
Coldstream

Condo / Apartment

New Listings
16
Listings Sold
3
Median Price
$164,000
Range
$110,000-$177,000
Days to Sell - Average
95
Days to Sell - Range
15 - 167
Inventory
140
Hottest Neighbourhood
mixed

Condo / Townhouse

New Listings
23
Listings Sold
9
Median Price
$296,000
Range
$85,000 - $385,574
Days to Sell - Average
145
Days to Sell - Range
13 - 300
Inventory
189
Hottest Neighbourhood
City of Vernon

Building Lot

New Listings
24
Listings Sold
0
Median Price
-
Range
-
Days to Sell - Average
-
Days to Sell -Range

Inventory
293
Hottest Neighbourhood
-

We are happy to provide you with a Personalized Market Snapshot - PMS was never like this before! Just click or call and we'll run numbers for your specific real estate situation.
To give you an insite as to what is going on in Okanagan Shuswap Real Estate - we have created our Market CLUE ( Cool Little Update Electronically) Here is an at a glance snapshot of what happened in the North Okanagan Real Estate Market last month:
Residential

New Listings
112
Listings Sold
26
Median Price
$335,000
Range
$99,900 - $1,300,000
Days to Sell - Average
138
Days to Sell - Range
5 - 337
Inventory
654
Hottest Neighbourhood
Coldstream

Condo / Apartment

New Listings
16
Listings Sold
3
Median Price
$164,000
Range
$110,000-$177,000
Days to Sell - Average
95
Days to Sell - Range
15 - 167
Inventory
140
Hottest Neighbourhood
mixed

Condo / Townhouse

New Listings
23
Listings Sold
9
Median Price
$296,000
Range
$85,000 - $385,574
Days to Sell - Average
145
Days to Sell - Range
13 - 300
Inventory
189
Hottest Neighbourhood
City of Vernon

Building Lot

New Listings
24
Listings Sold
0
Median Price
-
Range
-
Days to Sell - Average
-
Days to Sell -Range

Inventory
293
Hottest Neighbourhood
-

We are happy to provide you with a Personalized Market Snapshot - PMS was never like this before! Just click or call and we'll run numbers for your specific real estate situation.
To give you an insite as to what is going on in Okanagan Shuswap Real Estate - we have created our Market CLUE ( Cool Little Update Electronically) Here is an at a glance snapshot of what happened in the North Okanagan Real Estate Market last month:
Residential

New Listings
112
Listings Sold
26
Median Price
$335,000
Range
$99,900 - $1,300,000
Days to Sell - Average
138
Days to Sell - Range
5 - 337
Inventory
654
Hottest Neighbourhood
Coldstream

Condo / Apartment

New Listings
16
Listings Sold
3
Median Price
$164,000
Range
$110,000-$177,000
Days to Sell - Average
95
Days to Sell - Range
15 - 167
Inventory
140
Hottest Neighbourhood
mixed

Condo / Townhouse

New Listings
23
Listings Sold
9
Median Price
$296,000
Range
$85,000 - $385,574
Days to Sell - Average
145
Days to Sell - Range
13 - 300
Inventory
189
Hottest Neighbourhood
City of Vernon

Building Lot

New Listings
24
Listings Sold
0
Median Price
-
Range
-
Days to Sell - Average
-
Days to Sell -Range

Inventory
293
Hottest Neighbourhood
-

We are happy to provide you with a Personalized Market Snapshot - PMS was never like this before! Just click or call and we'll run numbers for your specific real estate situation.v To give you an insite as to what is going on in Okanagan Shuswap Real Estate - we have created our Market CLUE ( Cool Little Update Electronically) Here is an at a glance snapshot of what happened in the North Okanagan Real Estate Market last month:
Residential

New Listings
112
Listings Sold
26
Median Price
$335,000
Range
$99,900 - $1,300,000
Days to Sell - Average
138
Days to Sell - Range
5 - 337
Inventory
654
Hottest Neighbourhood
Coldstream

Condo / Apartment

New Listings
16
Listings Sold
3
Median Price
$164,000
Range
$110,000-$177,000
Days to Sell - Average
95
Days to Sell - Range
15 - 167
Inventory
140
Hottest Neighbourhood
mixed

Condo / Townhouse

New Listings
23
Listings Sold
9
Median Price
$296,000
Range
$85,000 - $385,574
Days to Sell - Average
145
Days to Sell - Range
13 - 300
Inventory
189
Hottest Neighbourhood
City of Vernon

Building Lot

New Listings
24
Listings Sold
0
Median Price
-
Range
-
Days to Sell - Average
-
Days to Sell -Range

Inventory
293
Hottest Neighbourhood
-

We are happy to provide you with a Personalized Market Snapshot - PMS was never like this before! Just click or call and we'll run numbers for your specific real estate situation.
To give you an insite as to what is going on in Okanagan Shuswap Real Estate - we have created our Market CLUE ( Cool Little Update Electronically) Here is an at a glance snapshot of what happened in the North Okanagan Real Estate Market last month:
Residential

New Listings
112
Listings Sold
26
Median Price
$335,000
Range
$99,900 - $1,300,000
Days to Sell - Average
138
Days to Sell - Range
5 - 337
Inventory
654
Hottest Neighbourhood
Coldstream

Condo / Apartment

New Listings
16
Listings Sold
3
Median Price
$164,000
Range
$110,000-$177,000
Days to Sell - Average
95
Days to Sell - Range
15 - 167
Inventory
140
Hottest Neighbourhood
mixed

Condo / Townhouse

New Listings
23
Listings Sold
9
Median Price
$296,000
Range
$85,000 - $385,574
Days to Sell - Average
145
Days to Sell - Range
13 - 300
Inventory
189
Hottest Neighbourhood
City of Vernon

Building Lot

New Listings
24
Listings Sold
0
Median Price
-
Range
-
Days to Sell - Average
-
Days to Sell -Range

Inventory
293
Hottest Neighbourhood
-

We are happy to provide you with a Personalized Market Snapshot - PMS was never like this before! Just click or call and we'll run numbers for your specific real estate situation.
To give you an insite as to what is going on in Okanagan Shuswap Real Estate - we have created our Market CLUE ( Cool Little Update Electronically) Here is an at a glance snapshot of what happened in the North Okanagan Real Estate Market last month:
Residential

New Listings
112
Listings Sold
26
Median Price
$335,000
Range
$99,900 - $1,300,000
Days to Sell - Average
138
Days to Sell - Range
5 - 337
Inventory
654
Hottest Neighbourhood
Coldstream

Condo / Apartment

New Listings
16
Listings Sold
3
Median Price
$164,000
Range
$110,000-$177,000
Days to Sell - Average
95
Days to Sell - Range
15 - 167
Inventory
140
Hottest Neighbourhood
mixed

Condo / Townhouse

New Listings
23
Listings Sold
9
Median Price
$296,000
Range
$85,000 - $385,574
Days to Sell - Average
145
Days to Sell - Range
13 - 300
Inventory
189
Hottest Neighbourhood
City of Vernon

Building Lot

New Listings
24
Listings Sold
0
Median Price
-
Range
-
Days to Sell - Average
-
Days to Sell -Range

Inventory
293
Hottest Neighbourhood
-

We are happy to provide you with a Personalized Market Snapshot - PMS was never like this before! Just click or call and we'll run numbers for your specific real estate situation.v

Wondering Where Century 21 is on your TV?

Everynight as I watch the news..ok.. my husband watches the news.. I am usually beside him with my laptop.. blogging about new listings and price changes at that time.... I am assaulted by real estate commercials.

It has made me wonder if anyone out there wonders why they are not seeing any commercial from Century 21...

In a move some online marketing gurus suspect may be followed by many of the other big real estate brands in 2009, last month at Real Estate Connect in New York, Century 21 announced it was shifting its television advertising dollars to support its online marketing efforts.

You can see the announcement made by Tom Kunz, president and CEO of C21 in an interview done with Susie Hale of Frogpond TV. (The announcement comes at about 3:00 minutes in).

Over the last couple years the technology providers and pundits like Joel Burslem (The Future of Real Estate Marketing) have talked about the need for real estate industry to fully embrace the Internet as the channel of choice to connect with consumers. For me- it is a no brainer...
The web provides a platform for me to connect more meaningfully and, more importantly, more measurably, with the buyers and sellers who are now predominantly searching for real estate information online.

This wave has been cresting for a long time and while the some of us have been paddling towards it hoping to have ride the curl of this trend , this announcement sends a clear signal that the big brands are fully committing to this new world as well. I am really thrilled that C21 has been on the leading edge - and endorsing of new media. C21 plans to spend the bulk of their advertising investment in 2009 on display advertising, search engine marketing and enhanced listing partnerships with real estate web sites.

2009 may just be the year that the wave finally comes crashing down and we see the end of big real estate’s old media habits. Next - maybe we will stop killing trees for newspaper ads.. and thwart that initiative to print listings on toilet tissue....

Hot Flash New Activations and Price Changes Feb.2, 2009

It was a busy day at Century 21 Executives Real Estate Ltd. Here is a look at what properties were activated or had price changes today. An overview of the North Okanagan Real Estate Hot Sheet follows below.

2570 P.V Blvd, Armstrong
$39,000
Successful pawn shop, great location. Includes display counters, inventory, client database and equipment distribution. Month to month lease. Longer term available.

Link trouble is temporary.. Let me know if you'd like to have details on these properties are not activated but are in the queue:

2417 Hwy. 6, Lumby
269,900

2423/2427 Highway 6, Lumby
$ 449,000

SB PI 9845 Eastside Rd., Vernon
$ 749,500
Enjoy the lifestyle at the Outback in this beautiful 2 bed/ 2- bath + den townhome. Superior location in South Bay area with lake view and just steps to lake. Granite; hardwood; stainless-steel appliances. Many amenities available.


3922 21 Ave., Vernon
$ 323,000
Very clean,3 bdrm up, family home, newer laminate & Hot water tank. Private back yard & patio area, storage shed. Great city & Mountain views, close to schools and town.

# 7 – 9990 Eastside Rd., Vernon
$ 3,190,000
Stunning custom built lakefront home that must be seen! Extremely well built 5 BR, 4.5 bath, 3 level home with elevator.



LISTING CHANGE

2706 41 Ave., Vernon
Was $ 330,000 Now $ 355,000

Elsewhere in North Okanagan Real Estate, 102 properties show a status change on todays HOT SHEET:
Commercial and Industrial:
Business Opportunity = 1
Land = 1
Lease = 1

Farm = 3

Lot & Acreage = 13

Single Family Residential = 68 and

Strata = 15

Part of the increase in the numbers of property with status changes is due to the fact that the last day of January and the first day of February occured on the weekend, when most office administrators have the day off - and it is common for listings to list and or expire on these dates.