http://okanaganshometeam.com/blog.html Greg Kalyniuk : Latest Blog Posts Copyright (C): Greg Kalyniuk, http://okanaganshometeam.com Wed, 18 Jan 2012 19:27:52 GMT Greg Kalyniuk 2012-01-18T19:27:52Z Copyright (C): Greg Kalyniuk, http://okanaganshometeam.com http://okanaganshometeam.com/blog.html/north-okanagan-real-estate-review-of-2011-1672931 <SPAN style="FONT-FAMILY: Calibri"><SPAN style="FONT-SIZE: 12pt; mso-bidi-font-weight: bold; mso-no-proof: yes"> <DIV style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" class=MsoNormal><B><SPAN style="FONT-FAMILY: Calibri; FONT-SIZE: 14pt; mso-bidi-language: AR-SA">Single Family Homes<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o:p></o:p></SPAN></B></DIV> <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" class=MsoNormal><?xml:namespace prefix = v ns = "urn:schemas-microsoft-com:vml" /><v:shapetype id=_x0000_t75 stroked="f" filled="f" path="m@4@5l@4@11@9@11@9@5xe" o:preferrelative="t" o:spt="75" coordsize="21600,21600"><v:stroke joinstyle="miter"></v:stroke><v:formulas><v:f eqn="if lineDrawn pixelLineWidth 0"></v:f><v:f eqn="sum @0 1 0"></v:f><v:f eqn="sum 0 0 @1"></v:f><v:f eqn="prod @2 1 2"></v:f><v:f eqn="prod @3 21600 pixelWidth"></v:f><v:f eqn="prod @3 21600 pixelHeight"></v:f><v:f eqn="sum @0 0 1"></v:f><v:f eqn="prod @6 1 2"></v:f><v:f eqn="prod @7 21600 pixelWidth"></v:f><v:f eqn="sum @8 21600 0"></v:f><v:f eqn="prod @7 21600 pixelHeight"></v:f><v:f eqn="sum @10 21600 0"></v:f></v:formulas><v:path o:connecttype="rect" gradientshapeok="t" o:extrusionok="f"></v:path><o:lock aspectratio="t" v:ext="edit"></o:lock></v:shapetype><v:shape style="Z-INDEX: 2; POSITION: absolute; MARGIN-TOP: 97.85pt; WIDTH: 534.85pt; HEIGHT: 180.05pt; MARGIN-LEFT: -3.4pt" id=_x0000_s1027 strokecolor="red" type="#_x0000_t75"><SPAN style="FONT-FAMILY: Calibri"><v:imagedata o:title="" src="file:///C:\DOCUME~1\HOMETE~1\LOCALS~1\Temp\msohtml1\01\clip_image001.wmz"></v:imagedata><?xml:namespace prefix = w ns = "urn:schemas-microsoft-com:office:word" /><w:wrap type="square"></w:wrap></SPAN></v:shape><SPAN style="FONT-FAMILY: Calibri"><SPAN style="FONT-SIZE: 12pt; mso-bidi-font-weight: bold; mso-no-proof: yes">In 2011 there were more single family homes on the market and less sales compared to 2010</SPAN><SPAN style="FONT-SIZE: 11pt; mso-bidi-font-weight: bold; mso-no-proof: yes">. The chart below gives the reader a better idea of the monthly sales compared to the number of single family homes listed. The total number of homes on the market throughout the year remained high and never dipped below 400. The most homes on the market peaked in August at close to 900. Although that was not at the record levels of 1998; <SPAN style="mso-spacerun: yes">&nbsp;</SPAN>900 single homes on the market is still a lot for the North Okanagan. The high number of homes for sale combined with the low number of monthly sales resulted in a <B>firm</B> <B>Buyer’s market</B> throughout 2011.<o:p></o:p></SPAN></SPAN></P> <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" class=MsoNormal><SPAN style="FONT-SIZE: 11pt; mso-bidi-font-weight: bold; mso-no-proof: yes"><o:p><SPAN style="FONT-FAMILY: Calibri">&nbsp;</SPAN></o:p></SPAN></P> <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" class=MsoNormal><SPAN style="FONT-FAMILY: Calibri"><SPAN style="FONT-SIZE: 12pt; mso-bidi-font-weight: bold; mso-no-proof: yes">The <B>average price</B> of a single family home in the North Okanagan <B>fell by about 1% to $382,665 in 2011</B> compared to 2010 (see graph below right).</SPAN><SPAN style="FONT-SIZE: 11pt; mso-bidi-font-weight: bold; mso-no-proof: yes"> That is much less than anticipated considering the low number of sales this year and the high number of homes for sale. To give you some insight into the decline in sales activity this year compared to previous years please see the graph below left. It shows the total number of single family sales for each year since 2007. As you can see there were around 1150 single family sales in 2007 and then the hammer came down. There was a bit of a surge in 2009 when sales topped 820, but since then sales have declined to a low of only 632 in 2011. <SPAN style="mso-spacerun: yes">&nbsp;</SPAN>Essentially, sales have dropped off by almost half this year over 2007!<o:p></o:p></SPAN></SPAN></P> <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" class=MsoNormal><v:shape style="Z-INDEX: 1; POSITION: absolute; MARGIN-TOP: 23pt; WIDTH: 305.2pt; HEIGHT: 146.9pt; MARGIN-LEFT: 230pt" id=_x0000_s1026 type="#_x0000_t75"><SPAN style="FONT-FAMILY: Calibri"><v:imagedata o:title="" src="file:///C:\DOCUME~1\HOMETE~1\LOCALS~1\Temp\msohtml1\01\clip_image003.wmz"></v:imagedata><w:wrap type="square"></w:wrap></SPAN></v:shape><v:shape style="Z-INDEX: 5; POSITION: absolute; MARGIN-TOP: 23pt; WIDTH: 254.05pt; HEIGHT: 146.9pt; MARGIN-LEFT: -15pt" id=_x0000_s1030 type="#_x0000_t75"><SPAN style="FONT-FAMILY: Calibri"><v:imagedata o:title="" src="file:///C:\DOCUME~1\HOMETE~1\LOCALS~1\Temp\msohtml1\01\clip_image005.wmz"></v:imagedata><w:wrap type="square"></w:wrap></SPAN></v:shape><SPAN style="FONT-SIZE: 11pt; mso-bidi-font-weight: bold; mso-no-proof: yes"><o:p></o:p></SPAN></P> <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" class=MsoNormal><SPAN style="FONT-FAMILY: Calibri"><SPAN style="FONT-SIZE: 11pt; mso-bidi-font-weight: bold; mso-no-proof: yes"><SPAN style="mso-spacerun: yes">&nbsp;</SPAN></SPAN><B><SPAN style="FONT-SIZE: 14pt; mso-bidi-language: AR-SA">Strata Homes (Townhouses and Condominiums)<o:p></o:p></SPAN></B></SPAN></P> <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" class=MsoNormal><SPAN style="FONT-FAMILY: Calibri; FONT-SIZE: 11pt; mso-bidi-language: AR-SA; mso-bidi-font-weight: bold">Strata home sales in 2011 were below 2010 levels and resulted in a <B>slip in the average sale price of about 10%</B> to <B>$234,090</B> (see chart, below right). While prices held their own between 2008 and 2010, it looks like the high number of listings and the low sales per month have taken a toll on Sellers. It was again, a <B>Buyer’s market for strata in 2011</B>. <o:p></o:p></SPAN></P> <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" class=MsoNormal><SPAN style="FONT-SIZE: 11pt; mso-bidi-language: AR-SA; mso-bidi-font-weight: bold"><o:p><SPAN style="FONT-FAMILY: Calibri">&nbsp;</SPAN></o:p></SPAN></P> <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" class=MsoNormal><v:shape style="Z-INDEX: 3; POSITION: absolute; MARGIN-TOP: 20.45pt; WIDTH: 301.2pt; HEIGHT: 198.2pt; MARGIN-LEFT: 231.95pt" id=_x0000_s1028 type="#_x0000_t75" o:allowoverlap="f"><SPAN style="FONT-FAMILY: Calibri"><v:imagedata o:title="" src="file:///C:\DOCUME~1\HOMETE~1\LOCALS~1\Temp\msohtml1\01\clip_image007.wmz"></v:imagedata><w:wrap type="square"></w:wrap></SPAN></v:shape><SPAN style="FONT-FAMILY: Calibri; FONT-SIZE: 11pt; mso-bidi-language: AR-SA; mso-bidi-font-weight: bold">To help explain the reason for the lower prices this year, please look at the chart for the number of strata home sales per year since 2007 (below left).<o:p></o:p></SPAN></P> <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" class=MsoNormal><v:shape style="Z-INDEX: 6; POSITION: absolute; MARGIN-TOP: 8.2pt; WIDTH: 242.65pt; HEIGHT: 147pt; MARGIN-LEFT: -10.7pt" id=_x0000_s1031 type="#_x0000_t75"><SPAN style="FONT-FAMILY: Calibri"><v:imagedata o:title="" src="file:///C:\DOCUME~1\HOMETE~1\LOCALS~1\Temp\msohtml1\01\clip_image009.wmz"></v:imagedata><w:wrap type="square"></w:wrap></SPAN></v:shape><SPAN style="FONT-SIZE: 11pt; mso-bidi-language: AR-SA; mso-bidi-font-weight: bold"><o:p></o:p></SPAN></P> <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" class=MsoNormal><SPAN style="FONT-SIZE: 11pt; mso-bidi-language: AR-SA; mso-bidi-font-weight: bold"><o:p><SPAN style="FONT-FAMILY: Calibri">&nbsp;</SPAN></o:p></SPAN></P> <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" class=MsoNormal><SPAN style="FONT-SIZE: 11pt; mso-bidi-language: AR-SA; mso-bidi-font-weight: bold"><o:p><SPAN style="FONT-FAMILY: Calibri">&nbsp;</SPAN></o:p></SPAN><SPAN style="FONT-FAMILY: Calibri"><B><SPAN style="FONT-SIZE: 14pt; mso-bidi-language: AR-SA">Conclusion and 2012 Prediction</SPAN></B><SPAN style="FONT-SIZE: 11pt; mso-bidi-language: AR-SA; mso-bidi-font-weight: bold"><o:p></o:p></SPAN></SPAN></P> <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" class=MsoNormal><v:shape style="Z-INDEX: 4; POSITION: absolute; MARGIN-TOP: 0.3pt; WIDTH: 180pt; HEIGHT: 99pt; MARGIN-LEFT: 0px" id=_x0000_s1029 type="#_x0000_t75"><SPAN style="FONT-FAMILY: Calibri"><v:imagedata o:title="MP910221032[1]" src="file:///C:\DOCUME~1\HOMETE~1\LOCALS~1\Temp\msohtml1\01\clip_image011.jpg"></v:imagedata><w:wrap type="square"></w:wrap></SPAN></v:shape><SPAN style="FONT-FAMILY: Calibri; FONT-SIZE: 11pt; mso-bidi-language: AR-SA; mso-bidi-font-weight: bold">It was not a good year for sellers in 2011 with total single family sales off 10% and total strata sales off 16% this year compared to last. The tenacity of sellers to hold onto their gains surprises me and speaks well of the view that North Okanagan Real Estate is still good value.<o:p></o:p></SPAN></P> <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" class=MsoNormal><SPAN style="FONT-FAMILY: Calibri; FONT-SIZE: 11pt; mso-bidi-language: AR-SA; mso-bidi-font-weight: bold"><SPAN style="mso-spacerun: yes">&nbsp;</SPAN><o:p></o:p></SPAN></P> <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" class=MsoNormal><SPAN style="FONT-FAMILY: Calibri; FONT-SIZE: 11pt; mso-bidi-language: AR-SA; mso-bidi-font-weight: bold">It was a great year for those people who bought homes, particularly strata. There were some investors who picked up large numbers of rental units for their portfolios last year. There were even some Realtors buying rental homes, which is always a good indication that it is a good time to buy!<o:p></o:p></SPAN></P> <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" class=MsoNormal><SPAN style="FONT-SIZE: 11pt; mso-bidi-language: AR-SA; mso-bidi-font-weight: bold"><o:p><SPAN style="FONT-FAMILY: Calibri">&nbsp;</SPAN></o:p></SPAN></P> <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" class=MsoNormal><SPAN style="FONT-FAMILY: Calibri; FONT-SIZE: 11pt; mso-bidi-language: AR-SA; mso-bidi-font-weight: bold">The large number of foreclosures last year in the North Okanagan (91) is an indication that more people than in recent memory are not working enough to support their homes. While this is a large number for this community it is very small compared to the total number of homes owned. Still, high foreclosure numbers indicate lower community economic strength. When the number of foreclosures starts to decline, our housing market should begin to recover.<o:p></o:p></SPAN></P> <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" class=MsoNormal><SPAN style="FONT-FAMILY: Calibri"><SPAN style="FONT-SIZE: 11pt; mso-bidi-language: AR-SA; mso-bidi-font-weight: bold">The CMHC predicts that in 2012: </SPAN><SPAN style="FONT-SIZE: 11pt; mso-bidi-language: AR-SA; mso-bidi-font-family: Calibri; mso-ansi-language: EN-CA; mso-bidi-font-weight: bold" lang=EN-CA><o:p></o:p></SPAN></SPAN></P> <P style="LINE-HEIGHT: normal; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0pt 0.5in; mso-list: l0 level1 lfo1" class=MsoNormal><SPAN style="FONT-SIZE: 11pt; mso-bidi-language: AR-SA; mso-fareast-font-family: Calibri; mso-bidi-font-family: Calibri; mso-bidi-font-weight: bold"><SPAN style="mso-list: Ignore"><SPAN style="FONT-FAMILY: Calibri">1.</SPAN><SPAN style="FONT: 7pt 'Times New Roman'">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </SPAN></SPAN></SPAN><SPAN style="FONT-FAMILY: Calibri"><SPAN style="FONT-SIZE: 11pt; mso-bidi-language: AR-SA; mso-ansi-language: EN-CA; mso-bidi-font-weight: bold" lang=EN-CA>Demand for new and existing homes will strengthen in 2012. Favourable mortgage interest rates coupled with stronger employment growth will support modest growth in demand for housing next year.</SPAN><SPAN style="FONT-SIZE: 11pt; mso-bidi-language: AR-SA; mso-bidi-font-weight: bold"><o:p></o:p></SPAN></SPAN></P> <P style="LINE-HEIGHT: normal; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0pt 0.5in; mso-list: l0 level1 lfo1" class=MsoNormal><SPAN style="FONT-SIZE: 11pt; mso-bidi-language: AR-SA; mso-fareast-font-family: Calibri; mso-bidi-font-family: Calibri; mso-bidi-font-weight: bold"><SPAN style="mso-list: Ignore"><SPAN style="FONT-FAMILY: Calibri">2.</SPAN><SPAN style="FONT: 7pt 'Times New Roman'">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </SPAN></SPAN></SPAN><SPAN style="FONT-FAMILY: Calibri"><SPAN style="FONT-SIZE: 11pt; mso-bidi-language: AR-SA; mso-ansi-language: EN-CA; mso-bidi-font-weight: bold" lang=EN-CA>Sales of existing homes are expected to increase 11 per cent in 2012. Home buyers will continue to benefit from an ample supply of listings available for sale.</SPAN><SPAN style="FONT-SIZE: 11pt; mso-bidi-language: AR-SA; mso-bidi-font-family: Calibri; mso-ansi-language: EN-CA; mso-bidi-font-weight: bold" lang=EN-CA> </SPAN><SPAN style="FONT-SIZE: 11pt; mso-bidi-language: AR-SA; mso-bidi-font-weight: bold"><o:p></o:p></SPAN></SPAN></P> <P style="LINE-HEIGHT: normal; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0pt 0.5in; mso-list: l0 level1 lfo1" class=MsoNormal><SPAN style="FONT-SIZE: 11pt; mso-bidi-language: AR-SA; mso-fareast-font-family: Calibri; mso-bidi-font-family: Calibri; mso-bidi-font-weight: bold"><SPAN style="mso-list: Ignore"><SPAN style="FONT-FAMILY: Calibri">3.</SPAN><SPAN style="FONT: 7pt 'Times New Roman'">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </SPAN></SPAN></SPAN><SPAN style="FONT-FAMILY: Calibri"><SPAN style="FONT-SIZE: 11pt; mso-bidi-language: AR-SA; mso-ansi-language: EN-CA; mso-bidi-font-weight: bold" lang=EN-CA>Expect existing home prices to edge up by three per cent as demand improves and the supply of listings is drawn down later next year.</SPAN><SPAN style="FONT-SIZE: 11pt; mso-bidi-language: AR-SA; mso-bidi-font-weight: bold"><o:p></o:p></SPAN></SPAN></P> <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" class=MsoNormal><SPAN style="FONT-FAMILY: Calibri; FONT-SIZE: 11pt; mso-bidi-language: AR-SA; mso-bidi-font-weight: bold">My advice for Sellers is to make your home as attractive in price, marketing, and appearance to get the sale that you want in 2012. My advice for Buyers is to shop around and look for those gems that are out there with motivated Sellers that will negotiate for a fair price.<B> It is an awesome time right now to get into Real Estate ownership, particularly if you are a first time home buyer. <o:p></o:p></B></SPAN></P></SPAN></SPAN> City of Vernon Lumby North Okanagan Real Estate Real Estate market trends Vernon Vernon Real Estate Wed, 18 Jan 2012 19:22:00 GMT http://okanaganshometeam.com/blog.html/north-okanagan-real-estate-review-of-2011-1672931 2012-01-18T19:22:00Z http://okanaganshometeam.com/blog.html/new-property-listed-in-east-hill-north-okanagan-1669943 <span id="emptyphoto"></span> <div> I have listed a new property at 1420 12 ST in Vernon. <div style="margin: 10px 0px 10px 0px"> <a href="http://okanaganshometeam.com/1420-12-Street-Vernon-mylistings-22126541.property">See details here</a> </div> </div> <div> <div style="margin-top: 10px"> </div> </div> East Hill, North Okanagan Real Estate Tue, 17 Jan 2012 10:09:14 GMT http://okanaganshometeam.com/blog.html/new-property-listed-in-east-hill-north-okanagan-1669943 2012-01-17T10:09:14Z http://okanaganshometeam.com/blog.html/new-property-listed-in-harwood-north-okanagan-1665308 <span id="emptyphoto"></span> <div> I have listed a new property at 1607 43 AVE in Vernon. <div style="margin: 10px 0px 10px 0px"> <a href="http://okanaganshometeam.com/1607-43-Avenue-Vernon-mylistings-22040191.property">See details here</a> </div> </div> <div> <div style="margin-top: 10px"> Presenting a prime flat 3 acre development site that is close to schools, shopping and on a bus line. This site would be great for a multi-family use or as a Senior's care home facility.<br> The property is presently zoned R5, however, the Official Community Plan has it slated for medium density zoning up to 44.5 units per acre. That zoning, if approved, would translate into a bargain for land costs at less than $9,000 per door!<br> For an informed and interesting showing of this great property and exciting development opportunity please contact Greg Kalyniuk at 250-503-3758. </div> </div> Harwood, North Okanagan Real Estate Fri, 13 Jan 2012 10:07:42 GMT http://okanaganshometeam.com/blog.html/new-property-listed-in-harwood-north-okanagan-1665308 2012-01-13T10:07:42Z http://okanaganshometeam.com/blog.html/new-property-listed-in-east-hill-north-okanagan-1656983 <span id="emptyphoto"></span> <div> I have listed a new property at 1401 29 AVE in Vernon. <div style="margin: 10px 0px 10px 0px"> <a href="http://okanaganshometeam.com/1401-29-Avenue-Vernon-mylistings-21953038.property">See details here</a> </div> </div> <div> <div style="margin-top: 10px"> This home is perfect for the large extended family or one that wants some rental income. &nbsp;There are three bedrooms and a bathroom upstairs. The kitchen is open, spacious and close to the back porch and deck area.<br> <br> The basement has two more bedrooms, a full bathroom and a laundry area that can be turned into a small kitchen. The family room in the basement has a separate entrance and is a nice size.<br> <br> You are going to love the updates and renovations on this home. There are&nbsp;newer appliances, newer flooring in most of the home, and a great porch addition that just needs a bit of finishing to make it perfect. The paint is in good condition and is in move in condition.<br> <br> The quiet desireable East Hill location is a must have. This home is a short walk to both elementary school and the new VSS high school which makes it great for a young family. You are also a short drive to downtown Vernon or to the Lumby and Kelowna highways.<br> <br> There is a&nbsp;flat fenced back yard that has two storage sheds, a childrens play set, great deck and a HOT TUB!<br> <br> For an informed showing please call Greg at 250-503-3758.<br> </div> </div> East Hill, North Okanagan Real Estate Fri, 06 Jan 2012 10:07:05 GMT http://okanaganshometeam.com/blog.html/new-property-listed-in-east-hill-north-okanagan-1656983 2012-01-06T10:07:05Z http://okanaganshometeam.com/blog.html/new-property-listed-in-east-hill-north-okanagan-1646603 <span id="emptyphoto"></span> <div> I have listed a new property at 1602 Pottery RD in Vernon. <div style="margin: 10px 0px 10px 0px"> <a href="http://okanaganshometeam.com/1602-Pottery-Road-Vernon-mylistings-21802421.property">See details here</a> </div> </div> <div> <div style="margin-top: 10px"> Here is an ideal family home that has lots of bedrooms (4), bathrooms (3), space and updated comfort. The home is located close to downtown and schools in popular East Hill. <br> There were some updates done in 2009 and the home is in very good condition. All you would have to do is move in.<br> The flat back yard is fenced and backs onto a lovely green space for additional privacy. There is a lovely deck that affords open views to the south and west.<br> The parking is generous with a large single car garage and more parking in the driveway.<br> For an informed and entertaining showing of this great home, please call Greg Kalyniuk at 250-503-3758. </div> </div> East Hill, North Okanagan Real Estate Fri, 16 Dec 2011 10:08:51 GMT http://okanaganshometeam.com/blog.html/new-property-listed-in-east-hill-north-okanagan-1646603 2011-12-16T10:08:51Z http://okanaganshometeam.com/blog.html/open-house-sunday-dec-11-from-1---230pmcheck-out-this-great-family-hom-1638668 <span id="emptyphoto"></span> <div style="margin-top: 10px"> Please visit our Open House at 1508 Pottery RD in East Hill. <div style="margin: 10px 0px 10px 0px"> <a href="http://okanaganshometeam.com/1508-Pottery-Road-East-Hill-mylistings-20859791.property">See details here</a> </div> </div> <div> <div style="margin-top: 10px"> Sunday, Dec. 11 from 1 - 2:30pm Check out this great family home that is close to schools and town. </div> </div> <div> <div style="margin-top: 10px"> Here is a wonderful opportunity for a family to own a 4 bedroom, 2 bath home that is in a great neighborhood close to schools, shopping, and recreation. <br> There is a kichen in the basement which provides an option to turn it into a mortgage helper with a separate entrance. That would give you two bedrooms upstairs and two bedrooms downstairs.<br> There is a nice flat fenced back yard which borders a green space for extra privacy. The shade tree in one corner is great for those hot summer days.<br> The covered deck over the carport is great for BBQ's or just hanging out. It is right off the kitchen which makes it great for entertaining.<br> The home has an updated central A/C system to keep it cool on those hot days.<br> Please call Greg at 250-503-3758 for an informed showing. </div> </div> East Hill, Vernon Real Estate Wed, 07 Dec 2011 10:08:44 GMT http://okanaganshometeam.com/blog.html/open-house-sunday-dec-11-from-1---230pmcheck-out-this-great-family-hom-1638668 2011-12-07T10:08:44Z http://okanaganshometeam.com/blog.html/i-have-sold-a-property-at-311-3929-22-ave-in-vernon-1637593 <span id="emptyphoto"></span> <div> I have sold a property at 311 3929 22 AVE in Vernon. <div style="margin: 10px 0px 10px 0px"> <a href="http://okanaganshometeam.com/311-3929-22-Avenue-Vernon-mylistings-20948391.property">See details here</a> </div> </div> <div> <div style="margin-top: 10px"> If you are looking for an open feeling 1 bedroom home you have to see this one. Even if you are looking for a 2 bedroom, take a look at this super sized 1 bedroom at over 900 square feet. <br> The top floor east facing location is one of the best in the building. You have a good sized covered balcony that welcomes the morning sun.<br> The home is nicely updated and very well maintained so that you don't have to do anything but move in. Some great features include independent furnace with central air conditioning, a natural gas fireplace, your own laundry room, and roughed in central vac system.<br> The building is in a central and popular location in Vernon. It is very well managed and boasts strong council leadership and a healthy contingency fund. The strata fees are very reasonable for this kind of home. There is even a games and exercise room for you and your guests to enjoy.<br> The underground parking area is secure and very clean. Your parking spot is in a sought after location within steps of the elevator.<br> For an informed showing please phone Greg Kalyniuk at 250-503-3758. </div> </div> City of Vernon, North Okanagan Real Estate Tue, 06 Dec 2011 10:08:38 GMT http://okanaganshometeam.com/blog.html/i-have-sold-a-property-at-311-3929-22-ave-in-vernon-1637593 2011-12-06T10:08:38Z http://okanaganshometeam.com/blog.html/the-chill-in-the-market-is-gone-1614971 <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" class=MsoNormal><?xml:namespace prefix = v ns = "urn:schemas-microsoft-com:vml" /><v:shapetype id=_x0000_t75 coordsize="21600,21600" o:spt="75" o:preferrelative="t" path="m@4@5l@4@11@9@11@9@5xe" filled="f" stroked="f"><v:stroke joinstyle="miter"></v:stroke><v:formulas><v:f eqn="if lineDrawn pixelLineWidth 0"></v:f><v:f eqn="sum @0 1 0"></v:f><v:f eqn="sum 0 0 @1"></v:f><v:f eqn="prod @2 1 2"></v:f><v:f eqn="prod @3 21600 pixelWidth"></v:f><v:f eqn="prod @3 21600 pixelHeight"></v:f><v:f eqn="sum @0 0 1"></v:f><v:f eqn="prod @6 1 2"></v:f><v:f eqn="prod @7 21600 pixelWidth"></v:f><v:f eqn="sum @8 21600 0"></v:f><v:f eqn="prod @7 21600 pixelHeight"></v:f><v:f eqn="sum @10 21600 0"></v:f></v:formulas><v:path o:extrusionok="f" gradientshapeok="t" o:connecttype="rect"></v:path><?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o:lock v:ext="edit" aspectratio="t"></o:lock></v:shapetype><v:shape style="Z-INDEX: -2; POSITION: absolute; MARGIN-TOP: 3.25pt; WIDTH: 250.95pt; HEIGHT: 132.7pt; MARGIN-LEFT: 265pt; mso-wrap-distance-left: 7.2pt; mso-wrap-distance-right: 7.2pt" id=_x0000_s1026 type="#_x0000_t75" wrapcoords="1841 2224 1700 2753 2054 3176 3329 3918 1770 4659 1770 5506 3329 5612 2125 7306 2125 7624 3116 9000 2195 9529 2195 10271 3329 10694 2691 11435 2125 12282 3258 14082 2195 14188 2195 15035 3329 15776 2691 16835 2550 17153 2550 17894 4532 19165 5241 19165 14801 19165 15864 19165 16501 18529 16784 16306 16713 14082 19900 14082 21033 13659 21104 7729 20609 7624 16713 7306 16855 2435 16289 2329 3045 2224 1841 2224"><v:imagedata src="file:///C:\DOCUME~1\HOMETE~1\LOCALS~1\Temp\msohtml1\01\clip_image001.wmz" o:title=""></v:imagedata><?xml:namespace prefix = w ns = "urn:schemas-microsoft-com:office:word" /><w:wrap type="square"></w:wrap></v:shape><B><SPAN style="FONT-FAMILY: Calibri; FONT-SIZE: 14pt; mso-bidi-language: AR-SA">Single Family Homes October Update<o:p></o:p></SPAN></B></P> <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" class=MsoNormal><SPAN style="FONT-FAMILY: Calibri; FONT-SIZE: 11pt; mso-bidi-font-weight: bold; mso-no-proof: yes">Winter is just around the corner and we have seen some blustery weather lately and below 0 degree temperatures. The single family home sales picture has improved a bit and according to the by-line, “The Chill is Gone”. In October single family sales improved moderately to <B>53</B> for the month, up from 49 last year. The graph at the right shows you the sales picture in October for the last four years.<o:p></o:p></SPAN></P> <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" class=MsoNormal><SPAN style="FONT-SIZE: 11pt; mso-bidi-font-weight: bold; mso-no-proof: yes"><o:p><SPAN style="FONT-FAMILY: Calibri">&nbsp;</SPAN></o:p></SPAN></P> <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" class=MsoNormal><SPAN style="FONT-FAMILY: Calibri; FONT-SIZE: 11pt; mso-bidi-font-weight: bold; mso-no-proof: yes">The number of Single Family homes on the market is coming down nicely as sellers hunker down for the winter. As of the first week in November there were <B>726 homes for sale</B>. This declining inventory and moderate sales for October has pushed the sales to listing ratio to <B>7%</B> up from 6% in September. Don’t kid yourself though, we are still in the grips of a <B>Buyers market</B> and the sellers who sold this month have priced their homes accordingly.<o:p></o:p></SPAN></P> <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" class=MsoNormal><SPAN style="FONT-SIZE: 11pt; mso-bidi-font-weight: bold; mso-no-proof: yes"><o:p><SPAN style="FONT-FAMILY: Calibri">&nbsp;</SPAN></o:p></SPAN></P> <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" class=MsoNormal><SPAN style="FONT-FAMILY: Calibri"><B><SPAN style="FONT-SIZE: 11pt; mso-no-proof: yes">The</SPAN></B><SPAN style="FONT-SIZE: 11pt; mso-bidi-font-weight: bold; mso-no-proof: yes"> <B>median sold price for single family homes in October 2011 was $296,500 and the average sold price was $327,545</B>. <o:p></o:p></SPAN></SPAN></P> <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" class=MsoNormal><SPAN style="FONT-SIZE: 11pt; mso-bidi-font-weight: bold; mso-no-proof: yes"><o:p><SPAN style="FONT-FAMILY: Calibri">&nbsp;</SPAN></o:p></SPAN></P> <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" class=MsoNormal><B><SPAN style="FONT-FAMILY: Calibri; FONT-SIZE: 14pt; mso-bidi-language: AR-SA">Bank Ordered Sales – A Telling Story<o:p></o:p></SPAN></B></P> <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" class=MsoNormal><v:shape style="Z-INDEX: -1; POSITION: absolute; MARGIN-TOP: 1.65pt; WIDTH: 225pt; HEIGHT: 116.8pt; MARGIN-LEFT: 285pt; mso-wrap-distance-left: 7.2pt; mso-wrap-distance-right: 7.2pt" id=_x0000_s1027 type="#_x0000_t75" wrapcoords="1841 2224 1700 2753 2054 3176 3329 3918 1770 4659 1770 5506 3329 5612 2125 7306 2125 7624 3116 9000 2195 9529 2195 10271 3329 10694 2691 11435 2125 12282 3258 14082 2195 14188 2195 15035 3329 15776 2691 16835 2550 17153 2550 17894 4532 19165 5241 19165 14801 19165 15864 19165 16501 18529 16784 16306 16713 14082 19900 14082 21033 13659 21104 7729 20609 7624 16713 7306 16855 2435 16289 2329 3045 2224 1841 2224"><SPAN style="FONT-FAMILY: Calibri"><v:imagedata src="file:///C:\DOCUME~1\HOMETE~1\LOCALS~1\Temp\msohtml1\01\clip_image003.wmz" o:title=""></v:imagedata><w:wrap type="square"></w:wrap></SPAN></v:shape><SPAN style="FONT-FAMILY: Calibri; FONT-SIZE: 11pt; mso-bidi-font-weight: bold; mso-no-proof: yes">We have heard that some peole are having a tough time financially and the number of Real Estate bank sales tells the story more clearly. Bank sales are ordered when the person holding the mortgage cannot pay and the property is sold to pay off some or all of the balance oweing to the bank.<o:p></o:p></SPAN></P> <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" class=MsoNormal><SPAN style="FONT-FAMILY: Calibri; FONT-SIZE: 11pt; mso-bidi-font-weight: bold; mso-no-proof: yes">In 2008 and before it was uncommon for a bank sale to take place. In the recent past there were about 5 to 10 sales every year, no matter the state of the economy. In 2009 that started to change dramatically and bank sales climbed to over 30 that year. In 2010 there were 78 bank sales and so far this year there are already 78 bank sales. It is conceivable that there could be over 100 bank sales in 2011, a very telling story of a limping local economy.<o:p></o:p></SPAN></P> <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" class=MsoNormal><SPAN style="FONT-SIZE: 11pt; mso-bidi-font-weight: bold; mso-no-proof: yes"><o:p><SPAN style="FONT-FAMILY: Calibri">&nbsp;</SPAN></o:p></SPAN></P> <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" class=MsoNormal><B><SPAN style="FONT-FAMILY: Calibri; FONT-SIZE: 14pt; mso-bidi-language: AR-SA">What will the Winter Bring?<o:p></o:p></SPAN></B></P> <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" class=MsoNormal><SPAN style="FONT-FAMILY: Calibri; FONT-SIZE: 11pt; mso-bidi-font-weight: bold; mso-no-proof: yes">While the sales numbers were not that great in October, it was an improvement over last year and that is good news. Whenever you see an increase of sales in any month compared to the last, it is encouraging. The real story will unfold when we see how many single family sales happen in November and December of this year.<SPAN style="mso-spacerun: yes">&nbsp; </SPAN>The first week in November has been fairly active with 18 single family home sales already. If this activity continues we should have more than the 56 sales of 2010. We will probably finish up somewhere between 60 and 65 sales in November.<o:p></o:p></SPAN></P> <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" class=MsoNormal><SPAN style="FONT-FAMILY: Calibri; FONT-SIZE: 11pt; mso-bidi-font-weight: bold; mso-no-proof: yes">Those historic low interest rates continue to provide a great opportunity for first time home buyers and those who want to trade up to a newer or bigger home.<o:p></o:p></SPAN></P> Fri, 18 Nov 2011 00:15:00 GMT http://okanaganshometeam.com/blog.html/the-chill-in-the-market-is-gone-1614971 2011-11-18T00:15:00Z http://okanaganshometeam.com/blog.html/open-house-open-house-check-out-this-super-sized-1-bedroom-home-in-a-g-1613143 <span id="emptyphoto"></span> <div style="margin-top: 10px"> Please visit our Open House at 311 3929 22 AVE in Vernon. <div style="margin: 10px 0px 10px 0px"> <a href="http://okanaganshometeam.com/311-3929-22-Avenue-Vernon-mylistings-20948391.property">See details here</a> </div> </div> <div> <div style="margin-top: 10px"> OPEN HOUSE: Check out this super sized 1 bedroom home in a great location. Everything has been done for you, just move in and enjoy! </div> </div> <div> <div style="margin-top: 10px"> If you are looking for an open feeling 1 bedroom home you have to see this one. Even if you are looking for a 2 bedroom, take a look at this super sized 1 bedroom at over 900 square feet. <br> The top floor east facing location is one of the best in the building. You have a good sized covered balcony that welcomes the morning sun.<br> The home is nicely updated and very well maintained so that you don't have to do anything but move in. Some great features include independent furnace with central air conditioning, a natural gas fireplace, your own laundry room, and roughed in central vac system.<br> The building is in a central and popular location in Vernon. It is very well managed and boasts strong council leadership and a healthy contingency fund. The strata fees are very reasonable for this kind of home. There is even a games and exercise room for you and your guests to enjoy.<br> The underground parking area is secure and very clean. Your parking spot is in a sought after location within steps of the elevator.<br> For an informed showing please phone Greg Kalyniuk at 250-503-3758. </div> </div> City of Vernon, North Okanagan Real Estate Wed, 16 Nov 2011 10:08:49 GMT http://okanaganshometeam.com/blog.html/open-house-open-house-check-out-this-super-sized-1-bedroom-home-in-a-g-1613143 2011-11-16T10:08:49Z http://okanaganshometeam.com/blog.html/new-property-listed-in-okanagan-landing-north-okanagan-1608273 <span id="emptyphoto"></span> <div> I have listed a new property at 26 5484 25 AVE in Vernon. <div style="margin: 10px 0px 10px 0px"> <a href="http://okanaganshometeam.com/26-5484-25-Avenue-Vernon-mylistings-21441421.property">See details here</a> </div> </div> <div> <div style="margin-top: 10px"> Here is a very comfortable and nicely updated home with lots of space to spread out. Spacious rooms and a wonderful recently updated addition make this a great buy. The back porch and patio area are lovely to use during the warmer days.<br> You will be impressed with the great open kitchen and dining room. The den area off the dining room also provides a lovely space to relax, read or even have a nap!<br> There is lots of storage space in both of the additions. Your car will also be covered over nicely in the carport.<br> For a great home at a wonderfully affordable price please call Greg Kalyniuk at 250-503-2758. </div> </div> Okanagan Landing, North Okanagan Real Estate Fri, 11 Nov 2011 10:10:30 GMT http://okanaganshometeam.com/blog.html/new-property-listed-in-okanagan-landing-north-okanagan-1608273 2011-11-11T10:10:30Z http://okanaganshometeam.com/blog.html/i-have-sold-a-property-at-303-1801-32-st-in-vernon-1605883 <span id="emptyphoto"></span> <div> I have sold a property at 303 1801 32 ST in Vernon. <div style="margin: 10px 0px 10px 0px"> <a href="http://okanaganshometeam.com/303-1801-32-Street-Vernon-mylistings-20440516.property">See details here</a> </div> </div> <div> <div style="margin-top: 10px"> The best value in a 1 bed, 1 bath apartment home can be yours. This home has been fully updated with quality workmanship and materials. Updates include new paint, laminate and ceramic tile flooring, new baseboards, new counter tops, and tumbled marble back splash in kitchen &amp; bathroom, new faucets, (new plumbing), and new cabinet hardware. Enjoy spacious rooms and a quiet top floor balcony with views to Silver Star. There is lots of storage in the home and a bonus (4'x5') storage locker in the secure underground parking. When guests come to visit you can use the fully furnished guest suite. The Maple Ridge building is very well run and boasts secure underground parking and entrance. The building is very well maintained and pride of ownership is evident. For an informed showing please contact Greg Kalyniuk at 250-503-3758 or visit www.okhometeam.ca </div> </div> City of Vernon, Vernon Real Estate Wed, 09 Nov 2011 10:09:08 GMT http://okanaganshometeam.com/blog.html/i-have-sold-a-property-at-303-1801-32-st-in-vernon-1605883 2011-11-09T10:09:08Z http://okanaganshometeam.com/blog.html/i-have-sold-a-property-at-302-1801-32-st-in-vernon-1591603 <span id="emptyphoto"></span> <div> I have sold a property at 302 1801 32 ST in Vernon. <div style="margin: 10px 0px 10px 0px"> <a href="http://okanaganshometeam.com/302-1801-32-Street-Vernon-mylistings-16018156.property">See details here</a> </div> </div> <div> <div style="margin-top: 10px"> Investors Alert! Here is a positive cash flow opportunity that is hard to pass up. A well kept 2 bed, 2 bath unit with long term tenant who wants to stay. <br> Maple Ridge Gardens is a very well run building with many amenities. There is a guest suite that is available for use should too many friends or family show up at once. Games and activity rooms are yours to relax and share stories with your neighbours. Secure underground parking and a secure entry way that is alarmed make this a very safe building to live in. There is also shared laundry if you or guests need it.&nbsp; Finally, there is an elevator for anyone who needs it.<br> The building is very well run and is self managed by owners. They just had a new roof installed at great expense and there is new carpet on the main floor. The strata also has an on site manager to take care of issues right away. For an informed showing, please call Greg Kalyniuk at 250-503-3758. </div> </div> City of Vernon, North Okanagan Real Estate Sat, 29 Oct 2011 09:10:35 GMT http://okanaganshometeam.com/blog.html/i-have-sold-a-property-at-302-1801-32-st-in-vernon-1591603 2011-10-29T09:10:35Z http://okanaganshometeam.com/blog.html/open-house-open-house-a-unique-3-bed-1-bath-heritage-home-can-be-yours-1585598 <span id="emptyphoto"></span> <div style="margin-top: 10px"> Please visit our Open House at 2300 37 AVE in Vernon. <div style="margin: 10px 0px 10px 0px"> <a href="http://okanaganshometeam.com/2300-37-Avenue-Vernon-mylistings-20339726.property">See details here</a> </div> </div> <div> <div style="margin-top: 10px"> OPEN HOUSE: A unique 3 bed, 1 bath Heritage home can be yours now! Come see the great layout and high ceilings that make this home seem so spacious. </div> </div> <div> <div style="margin-top: 10px"> A unique Heritage home in a desireable East Hill location can be yours. The potential is there to turn this 3 bed, 1 bath home into something special. A great layout combined with 9' ceilings make this home feel spacious. Drive by today. The house is located close to the downtown core in a quiet neighbourhood. You can walk to town and to coffee shops in the area. The yard has a small garden and a great deck that is off the back door. There is lots of parking either in the single garage or at the side yard. The yard is fully fenced to keep your pets safe. </div> </div> East Hill, Vernon Real Estate Wed, 26 Oct 2011 09:09:58 GMT http://okanaganshometeam.com/blog.html/open-house-open-house-a-unique-3-bed-1-bath-heritage-home-can-be-yours-1585598 2011-10-26T09:09:58Z http://okanaganshometeam.com/blog.html/open-house-open-house-a-super-clean-and-ready-to-go-home-is-waiting-fo-1568388 <span id="emptyphoto"></span> <div style="margin-top: 10px"> Please visit our Open House at 311 3929 22 AVE in Vernon. <div style="margin: 10px 0px 10px 0px"> <a href="http://okanaganshometeam.com/311-3929-22-Avenue-Vernon-mylistings-20948391.property">See details here</a> </div> </div> <div> <div style="margin-top: 10px"> OPEN HOUSE: A super clean and ready to go home is waiting for you to view. See you on Sunday! </div> </div> <div> <div style="margin-top: 10px"> If you are looking for an open feeling 1 bedroom home you have to see this one. Even if you are looking for a 2 bedroom, take a look at this super sized 1 bedroom at over 900 square feet. <br> The top floor east facing location is one of the best in the building. You have a good sized covered balcony that welcomes the morning sun.<br> The home is nicely updated and very well maintained so that you don't have to do anything but move in. Some great features include independent furnace with central air conditioning, a natural gas fireplace, your own laundry room, and roughed in central vac system.<br> The building is in a central and popular location in Vernon. It is very well managed and boasts strong council leadership and a healthy contingency fund. The strata fees are very reasonable for this kind of home. There is even a games and exercise room for you and your guests to enjoy.<br> The underground parking area is secure and very clean. Your parking spot is in a sought after location within steps of the elevator.<br> For an informed showing please phone Greg Kalyniuk at 250-503-3758. </div> </div> City of Vernon, North Okanagan Real Estate Wed, 12 Oct 2011 09:09:16 GMT http://okanaganshometeam.com/blog.html/open-house-open-house-a-super-clean-and-ready-to-go-home-is-waiting-fo-1568388 2011-10-12T09:09:16Z http://okanaganshometeam.com/blog.html/market-update-was-cold-cold-cold-1567066 <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" class=MsoNormal><?xml:namespace prefix = v ns = "urn:schemas-microsoft-com:vml" /><v:shapetype id=_x0000_t75 stroked="f" filled="f" path="m@4@5l@4@11@9@11@9@5xe" o:preferrelative="t" o:spt="75" coordsize="21600,21600"><v:stroke joinstyle="miter"></v:stroke><v:formulas><v:f eqn="if lineDrawn pixelLineWidth 0"></v:f><v:f eqn="sum @0 1 0"></v:f><v:f eqn="sum 0 0 @1"></v:f><v:f eqn="prod @2 1 2"></v:f><v:f eqn="prod @3 21600 pixelWidth"></v:f><v:f eqn="prod @3 21600 pixelHeight"></v:f><v:f eqn="sum @0 0 1"></v:f><v:f eqn="prod @6 1 2"></v:f><v:f eqn="prod @7 21600 pixelWidth"></v:f><v:f eqn="sum @8 21600 0"></v:f><v:f eqn="prod @7 21600 pixelHeight"></v:f><v:f eqn="sum @10 21600 0"></v:f></v:formulas><v:path o:connecttype="rect" gradientshapeok="t" o:extrusionok="f"></v:path><?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o:lock aspectratio="t" v:ext="edit"></o:lock></v:shapetype><v:shape style="Z-INDEX: -2; POSITION: absolute; MARGIN-TOP: 3.25pt; WIDTH: 220.05pt; HEIGHT: 117pt; MARGIN-LEFT: 290pt; mso-wrap-distance-left: 7.2pt; mso-wrap-distance-right: 7.2pt" id=_x0000_s1026 wrapcoords="1841 2224 1700 2753 2054 3176 3329 3918 1770 4659 1770 5506 3329 5612 2125 7306 2125 7624 3116 9000 2195 9529 2195 10271 3329 10694 2691 11435 2125 12282 3258 14082 2195 14188 2195 15035 3329 15776 2691 16835 2550 17153 2550 17894 4532 19165 5241 19165 14801 19165 15864 19165 16501 18529 16784 16306 16713 14082 19900 14082 21033 13659 21104 7729 20609 7624 16713 7306 16855 2435 16289 2329 3045 2224 1841 2224" type="#_x0000_t75"><v:imagedata o:title="" src="file:///C:\DOCUME~1\HOMETE~1\LOCALS~1\Temp\msohtml1\01\clip_image001.wmz"></v:imagedata><?xml:namespace prefix = w ns = "urn:schemas-microsoft-com:office:word" /><w:wrap type="square"></w:wrap></v:shape><B><SPAN style="FONT-FAMILY: Calibri; FONT-SIZE: 14pt; mso-bidi-language: AR-SA">Single Family Homes September Update<o:p></o:p></SPAN></B></P> <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" class=MsoNormal><v:shape style="Z-INDEX: -1; POSITION: absolute; MARGIN-TOP: 94.15pt; WIDTH: 225pt; HEIGHT: 116.8pt; MARGIN-LEFT: 285pt; mso-wrap-distance-left: 7.2pt; mso-wrap-distance-right: 7.2pt" id=_x0000_s1027 wrapcoords="1841 2224 1700 2753 2054 3176 3329 3918 1770 4659 1770 5506 3329 5612 2125 7306 2125 7624 3116 9000 2195 9529 2195 10271 3329 10694 2691 11435 2125 12282 3258 14082 2195 14188 2195 15035 3329 15776 2691 16835 2550 17153 2550 17894 4532 19165 5241 19165 14801 19165 15864 19165 16501 18529 16784 16306 16713 14082 19900 14082 21033 13659 21104 7729 20609 7624 16713 7306 16855 2435 16289 2329 3045 2224 1841 2224" type="#_x0000_t75"><SPAN style="FONT-FAMILY: Calibri"><v:imagedata o:title="" src="file:///C:\DOCUME~1\HOMETE~1\LOCALS~1\Temp\msohtml1\01\clip_image003.wmz"></v:imagedata><w:wrap type="square"></w:wrap></SPAN></v:shape><SPAN style="FONT-FAMILY: Calibri; FONT-SIZE: 11pt; mso-bidi-font-weight: bold; mso-no-proof: yes">Fall is finally upon us and you are all wondering what has happened so far in the Real Estate market and what we can expect as the season progresses. Check out the graph on the right which shows the number of single family homes that sold each September since 2008.<SPAN style="mso-spacerun: yes">&nbsp; </SPAN>This September saw <B>49 sales</B> which was well below what happened over the last couple of years, but was marginally higher than 2008 (43).<o:p></o:p></SPAN></P> <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" class=MsoNormal><SPAN style="FONT-FAMILY: Calibri; FONT-SIZE: 11pt; mso-bidi-font-weight: bold; mso-no-proof: yes"><SPAN style="mso-spacerun: yes">&nbsp;</SPAN><o:p></o:p></SPAN></P> <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" class=MsoNormal><SPAN style="FONT-FAMILY: Calibri; FONT-SIZE: 11pt; mso-bidi-font-weight: bold; mso-no-proof: yes">The number of Single Family homes on the market has finally come down, although not as fast as I expected. Again the number of homes for sale was high this September and above 800. At the beginning of October as I write this column there are <B>796</B> single family homes for sale in the North Okanagan. <o:p></o:p></SPAN></P> <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" class=MsoNormal><SPAN style="FONT-SIZE: 11pt; mso-bidi-font-weight: bold; mso-no-proof: yes"><o:p><SPAN style="FONT-FAMILY: Calibri">&nbsp;</SPAN></o:p></SPAN></P> <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" class=MsoNormal><SPAN style="FONT-FAMILY: Calibri; FONT-SIZE: 11pt; mso-bidi-font-weight: bold; mso-no-proof: yes">For September the sales to listing ratio was at <B>6%</B> which continues the trend over the last few months. This lack of sales combined with the high number of listings means that we are still in a <B>Buyers market</B>. <o:p></o:p></SPAN></P> <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" class=MsoNormal><SPAN style="FONT-SIZE: 11pt; mso-bidi-font-weight: bold; mso-no-proof: yes"><o:p><SPAN style="FONT-FAMILY: Calibri">&nbsp;</SPAN></o:p></SPAN></P> <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" class=MsoNormal><SPAN style="FONT-FAMILY: Calibri"><B><SPAN style="FONT-SIZE: 11pt; mso-no-proof: yes">Discounting</SPAN></B><SPAN style="FONT-SIZE: 11pt; mso-bidi-font-weight: bold; mso-no-proof: yes"> of the list price to the sale price is a trend as Sellers look to sell before the snow flies. For example in September this year the average list price was <B>$395,494</B> while the average sold price was <B>$382,213 </B>or<B> 3% less</B>.<o:p></o:p></SPAN></SPAN></P> <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" class=MsoNormal><SPAN style="FONT-FAMILY: Calibri; FONT-SIZE: 11pt; mso-bidi-font-weight: bold; mso-no-proof: yes">As a Buyer you should be looking for discounts of at least 4% and as a Seller you want to hold to less than the 3%. To put these numbers into perspective, the average discount this year has been 4% and in 2010 it was 5%.<o:p></o:p></SPAN></P> <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" class=MsoNormal><SPAN style="FONT-SIZE: 11pt; mso-bidi-font-weight: bold; mso-no-proof: yes"><o:p><SPAN style="FONT-FAMILY: Calibri">&nbsp;</SPAN></o:p></SPAN></P> <DIV style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" class=MsoNormal><SPAN style="FONT-FAMILY: Calibri"><B><SPAN style="FONT-SIZE: 11pt; mso-no-proof: yes">The</SPAN></B><SPAN style="FONT-SIZE: 11pt; mso-bidi-font-weight: bold; mso-no-proof: yes"> <B>median sold price for single family homes in September 2011 was $335,000 and the average sold price was $382,213</B>. </SPAN></SPAN></DIV> <DIV style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" class=MsoNormal><SPAN style="FONT-FAMILY: Calibri"><SPAN style="FONT-SIZE: 11pt; mso-bidi-font-weight: bold; mso-no-proof: yes"><o:p></o:p></SPAN></SPAN>&nbsp;</DIV> <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" class=MsoNormal><B><SPAN style="FONT-FAMILY: Calibri; FONT-SIZE: 14pt; mso-bidi-language: AR-SA">Condos and Townhouses September Update<o:p></o:p></SPAN></B></P> <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" class=MsoNormal><SPAN style="FONT-FAMILY: Calibri; FONT-SIZE: 11pt; mso-bidi-font-weight: bold; mso-no-proof: yes">The number of strata homes on the market (condos, apartments, and townhouses) is still high at 415. This trend has continued for most of the year with listings averaging over 420.<o:p></o:p></SPAN></P> <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" class=MsoNormal><SPAN style="FONT-FAMILY: Calibri; FONT-SIZE: 11pt; mso-bidi-font-weight: bold; mso-no-proof: yes">The number of strata sales in September, 2011 was 23 and the sales to listing ratio was <B>5%.</B><o:p></o:p></SPAN></P> <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" class=MsoNormal><B><SPAN style="FONT-FAMILY: Calibri; FONT-SIZE: 11pt; mso-no-proof: yes">The median sold price for stata during September 2011 was $210,000 while the average sold price was $224,163.<o:p></o:p></SPAN></B></P> <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" class=MsoNormal><SPAN style="FONT-FAMILY: Calibri; FONT-SIZE: 11pt; mso-bidi-font-weight: bold; mso-no-proof: yes">The average days on market has climbed up steadily over the summer and now sits at 210 which is very high.<o:p></o:p></SPAN></P> <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" class=MsoNormal><SPAN style="FONT-SIZE: 11pt; mso-bidi-font-weight: bold; mso-no-proof: yes"><o:p><SPAN style="FONT-FAMILY: Calibri">&nbsp;</SPAN></o:p></SPAN></P> <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" class=MsoNormal><B><SPAN style="FONT-FAMILY: Calibri; FONT-SIZE: 14pt; mso-bidi-language: AR-SA">What will the Fall Bring?<o:p></o:p></SPAN></B></P> <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" class=MsoNormal><SPAN style="FONT-FAMILY: Calibri; FONT-SIZE: 11pt; mso-bidi-font-weight: bold; mso-no-proof: yes">I was very disappointed with the lack of sales in September. My expectation is that low sales activity will continue through the rest of the year. The one bright spot is that low interest rates are forecast to continue well into next year. This is great news for those Buyers who are still on the fence. <o:p></o:p></SPAN></P> <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" class=MsoNormal><SPAN style="FONT-FAMILY: Calibri; FONT-SIZE: 11pt; mso-bidi-font-weight: bold; mso-no-proof: yes">With the high number of homes on the market, winter coming on and low interest rates, the time is ripe for buyers to make a move.<o:p></o:p></SPAN></P> <P>&nbsp;</P> City of Vernon Commonage East Hill Foothills Harwood Mission Hill North Okanagan Real Estate Okanagan Landing Real Estate market trends South BX Vernon Vernon Real Estate Tue, 11 Oct 2011 21:49:00 GMT http://okanaganshometeam.com/blog.html/market-update-was-cold-cold-cold-1567066 2011-10-11T21:49:00Z http://okanaganshometeam.com/blog.html/new-property-listed-in-city-of-vernon-north-okanagan-1554803 <span id="emptyphoto"></span> <div> I have listed a new property at 311 3929 22 AVE in Vernon. <div style="margin: 10px 0px 10px 0px"> <a href="http://okanaganshometeam.com/311-3929-22-Avenue-Vernon-mylistings-20948391.property">See details here</a> </div> </div> <div> <div style="margin-top: 10px"> If you are looking for an open feeling 1 bedroom home you have to see this one. Even if you are looking for a 2 bedroom, take a look at this super sized 1 bedroom at over 900 square feet. <br> The top floor east facing location is one of the best in the building. You have a good sized covered balcony that welcomes the morning sun.<br> The home is nicely updated and very well maintained so that you don't have to do anything but move in. Some great features include independent furnace with central air conditioning, a natural gas fireplace, your own laundry room, and roughed in central vac system.<br> The building is in a central and popular location in Vernon. It is very well managed and boasts strong council leadership and a healthy contingency fund. The strata fees are very reasonable for this kind of home. There is even a games and exercise room for you and your guests to enjoy.<br> The underground parking area is secure and very clean. Your parking spot is in a sought after location within steps of the elevator.<br> For an informed showing please phone Greg Kalyniuk at 250-503-3758. </div> </div> City of Vernon, North Okanagan Real Estate Thu, 29 Sep 2011 09:10:25 GMT http://okanaganshometeam.com/blog.html/new-property-listed-in-city-of-vernon-north-okanagan-1554803 2011-09-29T09:10:25Z http://okanaganshometeam.com/blog.html/new-property-listed-in-okanagan-landing-city-of-vernon-1545138 <span id="emptyphoto"></span> <div> I have listed a new property at 7 6600 Okanagan AVE in Vernon. <div style="margin: 10px 0px 10px 0px"> <a href="http://okanaganshometeam.com/7-6600-Okanagan-Avenue-Vernon-mylistings-20873041.property">See details here</a> </div> </div> <div> <div style="margin-top: 10px"> The best value in a new, level entry townhouse can be yours. This well appointed 2 bedroom, 2 1/2 bath home features many expensive upgrades that make it a great buy. For anyone who wants carefree living in a new development close to Okanagan lake and city services. </div> </div> Okanagan Landing, City of Vernon Real Estate Fri, 23 Sep 2011 09:25:19 GMT http://okanaganshometeam.com/blog.html/new-property-listed-in-okanagan-landing-city-of-vernon-1545138 2011-09-23T09:25:19Z http://okanaganshometeam.com/blog.html/new-property-listed-in-vernon-1545143 <span id="emptyphoto"></span> <div> I have listed a new property at 6600 Okanagan Avenue # 7 in Vernon. <div style="margin: 10px 0px 10px 0px"> <a href="http://okanaganshometeam.com/6600-Okanagan-Avenue-7-Vernon-mylistings-20875003.property">See details here</a> </div> </div> <div> <div style="margin-top: 10px"> This best value in a new, level entry townhouse can be yours. This well appointed home features many expensive upgrades that make it a great buy. For anyone who wants carefree living in a new development close to the lake and city services. Since this is a new home, HST is applicable with some credits available to the Buyer. For an informed showing please call Greg at 250-503-3758 or visit www.okhometeam.ca </div> </div> Vernon Real Estate Fri, 23 Sep 2011 09:25:19 GMT http://okanaganshometeam.com/blog.html/new-property-listed-in-vernon-1545143 2011-09-23T09:25:19Z http://okanaganshometeam.com/blog.html/new-property-listed-in-east-hill-vernon-1542833 <span id="emptyphoto"></span> <div> I have listed a new property at 1508 Pottery RD in East Hill. <div style="margin: 10px 0px 10px 0px"> <a href="http://okanaganshometeam.com/1508-Pottery-Road-East-Hill-mylistings-20859791.property">See details here</a> </div> </div> <div> <div style="margin-top: 10px"> Wonderful opportunity to own a 4 bedroom, 2 bath home that is in a great neighborhood close to schools, shopping, and recreation. There is also an option to turn the basement into a mortgage helper with a separate entrance. A nice flat fenced back yard backs onto green space for extra privacy. For an informed showing please call Greg Kalyniuk at 250-503-3758 or visit www.okhometeam.ca for more information and pictures. </div> </div> East Hill, Vernon Real Estate Thu, 22 Sep 2011 09:10:25 GMT http://okanaganshometeam.com/blog.html/new-property-listed-in-east-hill-vernon-1542833 2011-09-22T09:10:25Z http://okanaganshometeam.com/blog.html/open-house-open-house-this-lovely-1-level-home-is-ready-to-have-a-new-1542823 <span id="emptyphoto"></span> <div style="margin-top: 10px"> Please visit our Open House at 4 4303 27 AVE in Vernon. <div style="margin: 10px 0px 10px 0px"> <a href="http://okanaganshometeam.com/4-4303-27-Avenue-Vernon-mylistings-19217886.property">See details here</a> </div> </div> <div> <div style="margin-top: 10px"> OPEN HOUSE: This lovely 1 level home is ready to have a new owner. See you on Sunday! </div> </div> <div> <div style="margin-top: 10px"> A well maintained and presented one floor living home that is close to shopping and town. This easy care home is perfect for someone who wants comfortable, secure living. Enjoy your private back patio or stay cool inside with the A/C on. </div> </div> City of Vernon, North Okanagan Real Estate Thu, 22 Sep 2011 09:10:25 GMT http://okanaganshometeam.com/blog.html/open-house-open-house-this-lovely-1-level-home-is-ready-to-have-a-new-1542823 2011-09-22T09:10:25Z