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 285 blog entries about Local Kelowna News.

How To Prepare Your House For Sale

Preparing your Kelowna home for saleExpert insights on selling it quickly and for top dollar

For most people, listing their house for sale isn't a spur of the moment thing. People often think about selling their house for years before ever actually selling it. Yet, given how much time and thought people tend to give it, many people don't do enough to prepare their house for sale (or prepare themselves for what's to come). They just get to a point where they decide it's time to sell and they pop a sign in the yard.

This often leads to people not selling their house for as much, as quickly, or as smoothly as it could have. Or at all. On the other hand, there are people who do too much and spend way more time and money than they should.

They may

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The Kelowna Housing marketB.C. real estate: home prices forecast to rise 7.7 percent by end of 2020, and 3.7 percent in 2021

B.C. realtors expect not only to sell more homes this year and the next compared to 2019.

They also anticipate prices to rise in 2020 and 2021. The B.C. Real Estate Association predicts 2020 to finish with a 7.7 percent increase in average price over 2019. The BCREA also forecasts a further increase of 3.7 percent in 2021.

In Greater Vancouver, the association anticipates the average price to jump 5.9 percent over 2019. For 2021, the average price in the region is predicted to rise 2.4 percent. In the Fraser Valley, the BCREA expects the average price to grow 6.7 percent in 2020, and 2.6 percent in 2021.

It can be recalled that the Canada

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Kelowna Real Estate and CovidThe global pandemic may have brought the Canadian real estate sector to a near standstill this spring, but over the longer term it appears to have stoked homebuying intentions.

It almost goes without saying that COVID-19 has had a far-reaching impact on the Canadian economy and healthcare system in the first half of 2020. As expected, the spring housing market was much cooler than 2019, with the Canadian Real Estate Association (CREA) confirming that May 2020 recorded the lowest volume of sales in May since 1996. Despite the significant drop in sales volume due to the pandemic, though, national home prices remained relatively stable. 

After a quiet April, market activity began to pick up in local housing markets across the country in May: more

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What is the stress test in CanadaThe stress test rate is about to fall for the second time in three months following cuts by Canada’s Big Six banks to their 5-year fixed posted rates.

Ever since 2016, all insured mortgages must qualify at a minimum rate or, in other words, pass a 'stress test'. The key difference between an insured mortgage and an uninsured mortgage is the initial amount you're able to put down on the purchase of a If you find yourself able to put down more than 20% of the purchase price immediately, you can carry on without seeking mortgage insurance . If, however, your down payment comes in at under 20% of the total purchase price, the government mandates that the balance of the mortgage must be backed by government-supported insurance.

Mortgage experts say the

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Acreage in BCAre you considering buying an acreage?

I will be the first to tell you that the rural lifestyle has its rewards—including big, beautiful skies and the tranquility that comes with being surrounded by nature. Unfortunately, buying a property that doesn't suit your needs could make day-to-day life less than idyllic. That’s why it pays to know what to look for when buying an acreage. Here are a few of the things you should consider during your search.

1) Finance

HOW MANY ACRES ARE YOU PURCHASING?
For conventional mortgages,  mortgage lenders will finance a certain number of acres, a house & a garage. The number of acres that they will consider can vary based on the property location and the norm for that area. The minimum down payment can also vary

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What is your home worth in KelownaThe dollar figure on your provincial property assessment notice should not be taken as your home’s market value

In early January, homeowners across British Columbia received their 2020 assessed property values, released by BC Assessment. For the most part, the province remains relatively stable. However, there are significant changes to note, including a dramatic decrease in values in the lower mainland by as much as 15 per cent and increases of 41 per cent in smaller areas such as Kitimat. Regardless of the situation, it can be a confusing landscape to navigate as a homeowner, seller, or buyer. Here is a look at some of the need-to-know points that demystify the real versus the perceived impact of the newly released property assessments.

But hold

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Kelowna Property ValueWhat is a Market Evaluation?

A market evaluation is an analysis of the real estate market that a piece of property belongs to. Market evaluations are done to determine the value of a particular property (known as the subject property) – usually for the reasons of buying or selling real estate. Market evaluations are done with a specific area in mind, over a certain period of time and often other factors used to narrow down properties to compare to the subject property.

Let me explain a Market Evaluation

Real estate agents often do market evaluations for clients or potential clients to determine the value of their clients’ home or a home that their clients are looking to buy. Market evaluations help home buyers compare potential properties so that

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Inspect your new buildHere are six home inspection points costly to fix later on new build homes.

The vast majority of builders are honest and conscientious, but errors are likely in any construction project.

Not having built a home before what should you be looking for once the contract is signed, and construction begins?

Some eager customers show up almost daily toward the end of each day to watch their new home come to life. Others may rarely visit the construction site and others never set foot in their new home until they take occupancy. The two most important points to keep in mind is there are also municipal inspectors that visit periodically to ensure code compliance. Also, caution should be taken when moving around a construction site as accidents can happen.

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Moving in BCSo you’re moving to a new home, what do you need to get done?

The planning and coordination involved with moving can certainly overwhelm but as long as you take the process one step at a time, you will be settling into your new home and relaxing quickly. This list is comprehensive but will cover everything you’ll need to consider for your moving day. Soon enough, you’ll be able to cruise through your moving day without having to panic.

Before you start to pack, take the time to plan your moving day to make it as stress-free as possible. Let’s face it, moving is stressful. We’re here to help you figure out exactly what you should be doing before, during, and even after your move. Moving all your belongings from one place to another is hard, and so is

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Kelowna Roofing tipsThe roof protects you and your home from all kinds of weather, bugs, animals and falling debris. Yet we rarely think about the roof until it’s too late—and then it can be a big investment.

Unfortunately, when prepping your house for the icy grips of winter, it isn’t all fun, games and decorations. You’re going to want to ensure that your home is adequately prepared to endure the harsh reality of an unpredictable winter by weatherproofing its infrastructure and employing general fall roof maintenance and upkeep tasks.

Before that very first snowflake hits the ground, there is plenty to be done when it comes to home maintenance, and no – the first thing to check off the box isn’t hanging up your Christmas lights. So, what’s first on the list? Well, as

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