Local Kelowna News

Kelowna Real estate market news

See whats happening in Kelowna that effects your property buying decisions. The Kelowna property for sale blog has articles that are for buyers, sellers and for everyone. Keep coming back to the Blog and see what you can learn.

Found 269 blog entries about Local Kelowna News.

Price My Kelowna home to sellWhen selling a house, pricing it correctly is one of the most important steps.

If the house is priced too high, it can linger on the market for months without any chance of selling. Even worse, if the price is too low, it will certainly sell, but the seller could be leaving tens of thousands of dollars on the table.

As the homeowner, you play a vital role in preparing your home for the market, determining your asking price, striking the deal, and handing over the role of ownership.

There are two methods that most people use to figure out the price of their home; a comparative market analysis (CMA), and an appraisal. A CMA is prepared by a real estate agent and can come either before or after the agent is hired. An appraisal is done by a licensed

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Costs of selling your Kelowna Real EstateYour Comprehensive Cost List for Selling

If you’re thinking about selling your home, you’ve most likely thought about the cost of selling a house in BC and what that calculates to exactly. This article helps to break down the cost of selling a home so that they can estimate what your take away profit will be after everything.

Home Preparation and Staging

You only get one chance to make a first impression, and in real estate first impressions are everything. In a hot market, like we have in BC, there are many buyers that only get to see a home once at an open house before they put an offer on it. Many buyers are seeing 10-12 homes on average per showing day, which means you have to stand out from the crowd. Sprucing up the home before you take

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BC real estate newsSharp drop in B.C. home sales should be followed by steady recovery: BCREA

Ban on open houses foreshadows short- to mid-term trouble for property sales, as COVID-19 infects all aspects of the market

As COVID-19 makes its way around the globe, it is also bulldozing its way through the economy.  While airlines and event venues were the first to be infected, many are anxious about how the virus will affect other parts of the economy, including the real estate market – which made up 17.4 per cent of B.C.’s GDP in 2018.

Earlier this month, B.C. real estate brokers cancelled all open houses. When houses aren’t shown they become more difficult to sell, and when houses aren’t selling the broader market suffers. While the outlook doesn’t look good, it is

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Kelowna NeighbourhoodsSo you’re looking to buy a new house – and pouring over all of the great real estate offerings in the Kelowna Area.

Each property slideshow conjures images of a new era of domestic bliss in your mind. It’s an exciting time, full of possibilities. But while you’re envisioning yourself in that new place, don’t forget to consider the big picture. You’ll be calling a new neighbourhood “home” too.

Read on to determine what information you need to know about choosing your new neighbourhood.

It’s not merely a question of “good neighbourhoods” and “bad neighbourhoods”. What you want, ideally, is a neighbourhood that offers the specific qualities required to enrich your life (both now and during the years to come). Those requirements will vary greatly

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Kamloops Home InspectionHome inspections are a huge part of buying and selling a home.

While in most cases a home inspection is optional, it’s highly recommended by experts so you can be aware of the home’s condition and potential problems. One of the most common pitfalls new home buyers experience are issues with the home they didn’t know about but could have been fixed prior to closing. Remember, if you have an inspection before purchasing a house, the issues are the seller’s, but if not, the buyer, you are responsible.

One of the most common subjects to a real estate transaction is the home inspection. An inspector’s report is often the deciding factor to move forward with a purchase and can be used to renegotiate the sale price or allow sellers to make repairs. It can

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Rent to own in CanadaRent-to-own is an alternative route to home ownership for those who can’t obtain financing due to poor credit or because they don’t have enough money for a down payment (or both).

Most Canadians probably haven’t heard about rent-to-own housing. Unlike the U.S., this arrangement is still not that common in Canada.

What is a rent to own home?  It’s pretty much exactly as it sounds.  It’s where an investor, or home owner, rents out their property to a tenant, but gives the tenant the “option” to purchase the home after a certain period of time at a predetermined price. The idea is that you rent a home for a certain period of time with the goal of buying the property at the end of your lease. If all goes according to plan, by then you’ll have repaired

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Kelowna Real Estate MarketGetting ready to sell your home in Kelowna?

Here are a few real estate tips to think about before you do.

Know your local Real Estate Market –  What are the driving forces in the current Kelowna real estate market? If you do not know, make sure your Realtor knows, if they do not know, find one who does. The focus in Real Estate always has and always will be local, and in order to sell your home, it is vital to know what the local trends here in Kelowna are.

There is nothing convenient about selling a home – You're going to have to get your home ready to sell. You're going to have to do some packing. Your normal living schedule will be interrupted by prospective buyers. The upfront knowledge that you are going to be inconvenienced once you have

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BCREA 2020 First Quarter Housing Forecast Update

Vancouver, BC – January 23, 2020. The British Columbia Real Estate Association (BCREA) released its 2020 First Quarter Housing Forecast Update today.

Multiple Listing Service® (MLS®) residential sales in the province are forecast to increase 10.3 per cent to 85,290 units this year, after recording 77,349 residential sales in 2019. MLS® residential sales are forecast to increase 6.3 per cent to 90,700 units in 2021. BC real estate sales

“The outlook for home sales in 2020 is considerably brighter than the past two years,” said Brendon Ogmundson, BCREA Chief Economist. “Momentum carried through from the end of 2019 to 2020 will put the housing market on more solid footing, aided by low interest rates and an improving

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So you are looking to move to Kamloops.

Kamloops BCSo what are the advantages to living in Kelowna opposed to lets say Kamloops or Merrit? Kelowna which comes from the Okanagan term for "grizzly bear," is located on Okanagan Lake in British Columbia, Canada. Kelowna is the 22nd largest city in Canada and the 3rd largest metro area in British Columbia with a population estimated at 120,000 in 2015.

Kelowna History
The first European to settle in the Kelowna area was Father Charles Pandosy, a French Roman Catholic missionary. The city was incorporated in 1905 when the city had 600 people and the economy centered on farming, cattle ranching, hay and grain cultivation, and orchard growing. The city's population grew dramatically after World War II partly due to a

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BCREA BC real estate newsVancouver, BC – March 12, 2019.

The British Columbia Real Estate Association (BCREA) is calling on the federal government to revisit the B-20 stress test so that more BC families can achieve their dream of home ownership. Mortgage lending rules, known as the B-20 stress test, have eroded housing affordability by reducing the purchasing power of families by as much as 20 per cent. Introduced last year, the stress test forces even the most credit-worthy borrowers with large down payments to qualify at an interest rate that is two percentage points above the rate they negotiate with their bank.
 
“We would like to see a review and reconsideration of the current mortgage underwriting ‘stress test,’ as well as a return to 30-year amortizations for

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