20 Years of Renting.

Posted on April 25, 2011 by penticton-realestate

In my process of marketing a new listing at 110 Skaha Place, the unit is rent-able and there are lots of renters in the Okanagan. I decided to evaluate the true cost of renting over a significant period of time.

Penticton has not seen a “Buyer’s Market” in quite sometime. When the prices climbed in the past homeowners pretty much hit the jackpot. I sold many homes for the mid $300,000′s that were purchased only a few years earlier for just over $100,000. My sellers were raking in more than their yearly wages just by being in the market. That time will come again, maybe not soon but history does repeat itself!

I have this pdf available for anyone who would like it or could forward to a friend who hasn’t considered the benefit of 1. buying a home or 2. knows the benefits of owning a home. Now is the time to get into the Okanagan market. Rates are still low and the land here can not be reproduced.

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Fest of Ale, Penticton BC 2011

Posted on April 21, 2011 by penticton-realestate

Last weekend I attended the annual Fest of Ale in Penticton BC.This year differed from the last few. Tokens doubled in price to $2.00/ 5 oz drink. The line ups were HUGE, unexpected wait times and as expected, tons and tons of beer drinking Okanganers. I enjoyed the festivities and tried all the different beers. I am not a “beer drinker” and I had some help with the ones that I just couldn’t drink! A few cooler locations served me well but I am also looking forward to the upcoming Bacanalia!

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March 2011 Stats

Posted on April 19, 2011 by penticton-realestate

Here are the stats for Penticton obtained from the South Okanagan Real Estate Board. If one looks a little further in depth we find that single family homes year to date in comparison to last year units sold are down 36%. When looking at the same stats year to date combining condo’s and townhouses the number of units sold is down 35%.

Click on the graphic below to view March Statistics.

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Bring back the 80′s MS fundraiser!!!

Posted on April 17, 2011 by penticton-realestate

When: April 21 2011 starts at 7pm – taxi time!

Where: The Barley Mill, Penticton BC

Why: MS WALK Fundraiser

Yes, I am currently promoting another real estate teams fundraiser. Who can resist an 80′s themed party all in the name of Charity??

I met with good friend Karrie Wiltse who has requested I drum up some interest for this fun filled entertaining evening!

What:

  • An amazing night filled with entertainment featuring Papa Wheely as Pink Torpedo
  • prizes and a chance to win a trip for 2 to Vegas for only $25 per person
  • There will be door prizes and raffles
  • appy hour
  • a costume contest
  • a prize for the best 80′s move!

Doors open at 7 band to start at 8 and appies served at 9. Must be present to win prize. Please join us in our fundraising effort for the MSWalk, together we can end MS.

I have tickets for this event ($25) so if you would like to join please leave a reply and I would be happy to meet with you for tickets!

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Patience & Wisdom in a Buyer’s Market

Posted on April 15, 2011 by penticton-realestate

This image is compliments of my mother. I relate this to our current Buyer’s market. Rates are still at an all time low and many young families can finally afford to get into the market. A market where young families who purchased in the last 2 years may not be able to get out. With a dip in prices this last year I recommend buying and not selling unless you are planning to turn around and buy something different.

A move up Buyer “this is your time to shine” If you were to sell at the $200,000 price point and the market has taken a 10% hit in your product you lose 20% in comparison to selling last year ($20,000) if you are to turn around and buy a $500,000 home that took the same 10% hit ($50,000) you are still ahead $30,000. The market is always relative to your current situation. If you have been thinking of buying, do it while you can lock in a good interest rate, here in the Okanagan it is cheaper than renting. (ie: paying someone else’s mortgage) Sellers, if you aren’t staying in the market I would suggest hanging on and renting it out to those people who just won’t make the home ownership transition, should cover your mortgage and the market should recover. Historically it always has and as per the CMHC report previously blogged about there are market indicators that show an increase due to migration, and a recovering economy. Those rates will eventually go up but right now they are in favor of pushing buyers into the market. CMHC has also changed the lending rules a few times in the last year to ensure that the buyers can sustain their chosen purchases, Canadians won’t follow the US trends at this time.

For more information on buying a home or selling your home contact Dori today!

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ROCK YOUR VOTE

Posted on April 14, 2011 by penticton-realestate

This upcoming Saturday April 16th from 7pm – 10pm (Shatfrod Centre) 760 Main St. Penticton BC

 Join the Daybeats along with

Aiden Mayes

Ari Neufeld

Sean Riley

Eswen Blagdon

Endren Sheperd

and guests.

This is an opportunity to talk to all of the Candidates that are running for the 2011 Federal Campaign in the Okangan-Coquihalla riding. All parties coservative, Green Party, Liberals, NDP and independant conservatives will be attending!!

The DAYBEATS are personal friends and always promise to be entertaining on and off the stage. Hope to see you all there!

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Top Floor Lakeview Condo – Penticton BC

Posted on April 13, 2011 by penticton-realestate

The condo doesn’t match the building! Most of you Pentictonites know of the 3 older buildings in the cul-de-sac by Skaha Lake. These 3 buildings have smaller condo’s mostly vacation, rented out or occupied by young couples or single folks. This unit is unique in the fact that it has a serene feeling at the top of the building overlooking Skaha Lake. The last sale on the top floor of this building was $239,000 on the North West corner. The new listing is South East facing and lets in lots of sunlight! It is like no other in comparison the floors are a gorgeous dark laminate that looks like hardwood. The walls are a beautifully calm and inviting yellow with new upgraded track lighting. The kitchen has modern cupboards, an older smaller stove that works like a charm. The fridge is tight but sufficient. Interior doors, sliding glass door and windows are updated. The bathroom has 3, yes 3 shower heads, and the cutest sink. The unit has lots of storage and always ample parking. Low strata fees of $136.00. The building has coin laundry on the first floor and allows for one cat or one dog. No BBQ’s on the balcony. All ages welcome and rentals allowed. Perfect property for investors, Okanagan summer vacationers, or the single person or traveling couple. Check out more information about this Penticton Condo or contact me today to book your private viewing. for Rent vs. Buy on this unit!

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Fireman’s Brigade

Posted on April 9, 2011 by penticton-realestate

A few Saturday’s ago I attended the Fireman’s Ball, it was sold out the first time I attempted to find tickets, but I was determined. The Daybeats are a fabulously talented local band and were playing that night so I knew I had to go regardless.

After a quick lunch introduction to Penticton’s newest motivated mortgage broker Jenine Cressman, I may have whimpered a little bit that I wouldn’t be indulging in the steak and lobster meal before my friends played at the Ball. Jeanine kindly whipped out her cell phone and found me a pair of tickets to a night I would never forget. Ask and thou shall receive!! I stayed the evening at the APEX HOTEL, which is made up of privately owned units. It was a nice stay in a clean quiet room.

www.penticton-realestate.com

www.penticton-realestate.com/blog

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Top 3% in Canada

Posted on April 9, 2011 by penticton-realestate


2010 was a very busy year for myself and real estate in general. I had the honour of working with amazing clients and their referrals. Last week we had our annual Royal LePage Awards Ceremony and for the first time I jumped up from top 10% in the office (2007,2008,2009) to Top 3% in Canada!!! This award is called the ‘Diamond Award.” For our Penticton Office, as I boast over and over again, we have 29 consecutive years as being the #1 company. We do more business than all of our competitors combined! With almost 70 agents in our office it is an honour to be recognized as one of the top 3%!

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CMHC releases first quarter report.

Posted on April 7, 2011 by penticton-realestate

The Canadian Mortgage Housing Association has recently released its first quarter report for this year.
Locally, the housing market has been fairly slow. CMHC states ‘”Measures recently announced for government-backed mortgage insurance will moderate housing starts activity.  Some potential buyers will have to save a larger minimum down payment in order to qualify for mortgage insurance and thus postpone their purchase. Alternatively, some potential buyers may buy smaller, less expensive homes. The  new measures, however, are only a few of the many factors that will affect the new housing market”

It is mentionable that this report comments that BC and Alberta are fore-casted to see much more new home starts than the Eastern provinces. One of the factors is the increasing migration trend. The image below is from the CMHC, the numbers speak for themselves. For the full CMHC report click here.

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