Central Okanagan Real Estate News by Dulcie

New property listed in Kelowna
New Listings

New property listed in Kelowna

I have listed a new property at 265 Fir Court in Kelowna. See details here This once can be yours: Townhome with no monthly strata ...

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New property listed in Peachland
New Listings

New property listed in Peachland

I have listed a new property at 6486 Sherburn Road in Peachland. See details here You will be amazed at the beautiful lake and mountain ...

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6486 Sherburn Road. Amazing views. Ready for development. Offered at $439,900.00
Kelowna and Area Real Estate News

6486 Sherburn Road. Amazing views. Ready for development. Offered at $439,900.00

Located in a family friendly neighbourhood with lots of new homes. This lot is ready to go. Don’t miss out on this opportunity. Get ...

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New property listed in Kelowna
New Listings

New property listed in Kelowna

I have listed a new property at 1006 1232 Ellis Street in Kelowna. See details here You can own this location 2 bedroom/1 bathroom ...

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New property listed in Kelowna
New Listings

New property listed in Kelowna

I have listed a new property at 1 295 Highway 33 E Highway East in Kelowna. See details here Discover the charm and comfort of this ...

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New property listed in Rutland
New Listings

New property listed in Rutland

I have listed a new property at 110 1133 Findlay Road in Rutland. See details here Welcome home to 110-1133 Findlay Road located in ...

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New property listed in Kelowna

I have listed a new property at 1195 Steele Road in Kelowna. See details here

If you are looking for a home in the Upper Mission area with an amazing view, then look no further. Both upper and lower front decks offer a view of the lake and downtown. As you enter the main area, you are greeted with an open concept kitchen/dining room/living room that is further complimented with a vaulted ceiling. Kitchen includes stainless steel appliances and granite counter-top. Master bedroom on upper level is large and boasts a large ensuite with double vanity as well as an enormous walk-in closet. Lower level showcases a bright family room, 2 over-sized bedrooms and a full bath. The exterior consists of a beautifully landscaped lot with front and rear deck and a single car garage. This home is a pleasure to view. (id:2493)

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BCREA Mortgage Rate Forecast

BCREA Mortgage Rate Forcast


After a sharp upturn to start the year, Canadian mortgage rates remained stable through the second quarter of 2021. That said, there was recently a significant change in mortgage qualifying as OSFI and the federal government implemented a new stress test rate, which is now the higher of a borrower’s contract rate plus 200 basis points and 5.25 per cent for both insured and uninsured mortgages. The ultimate impact of this change, however, is rather minimal compared with the prevailing qualifying rate of 4.79 per cent, and only lowers purchasing power by 4 to 5 per cent.


While there was little movement in mortgage rates over the past quarter, rising Canadian inflation – and the extent to which that inflation is a temporary phenomenon – is set to shape how rates evolve over the next year.  The prevailing view on inflation, also held by the Bank of Canada, is tilted toward this recent inflation being a temporary phenomenon that should settle over the next year. If so, we should see an orderly unwinding of monetary stimulus with a gradual upward trajectory for mortgage rates beginning in 2022. If that view is incorrect and inflation sustains north of 3 per cent, or expectations of future inflation become unmoored, the Bank of Canada would be prompted to raise rates higher and earlier than expected. While such a scenario is unlikely, it remains a risk given current uncertainty. 

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Healthier Local Real Estate Market On The Horizon

 

KELOWNA, B.C. – June 3rd, 2021. Residential real estate sales across the region from Revelstoke to Eastgate Manning Park and into the South Peace River region is showing signs of calming after months of record highs, reports the Association of Interior REALTORS®.
 
Residential sales for the month of May for the entire Association region totalled 1,482, down from April’s 1,719 sales. The same area also saw significant percentage increase in year-over-year comparisons, however that is still in comparison to the worst months of the pandemic.
 
“There is a slight reduction in pressure that is creating a calming effect for a healthier market for both buyers and sellers,” says the Association of Interior REALTORS® President Kim Heizmann, adding that “we are seeing an easing up on the gas pedal that has been going above the speed limit, to now moving within a reasonable pace.”
“While the market may be slowing down from an all-time record, it does not mean the market has softened, it means the buyer frenzy has calmed down slightly,” says Heizmann.
 
The supply of active residential listings dropped slightly from April’s 2,818 to 2,554 current listings across the Association region.
 
The benchmark price for homes in the Central Okanagan, North Okanagan and Shuswap/Revelstoke regions once again saw double-digit percentage increases in year-over-year comparisons in all home categories categories.
 
In the South Okanagan, where benchmark pricing is currently not available, average sales prices were also up year-over-year in all home categories with single-family homes seeing the highest percentage increase of 42%. The average sale prices for single-family homes in the South Peace River increased 12% in comparison to May 2020 average price, but saw no sales in the condo category.
 
Contact your local REALTOR® to find out more about the real estate market and how they can help you achieve your real estate goals.
 
Visit HERE for more articles on Real Esate.
 
 
 
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New property listed in Kelowna

I have listed a new property at 309 250 Dougall Road North in Kelowna. See details here

Bright corner unit at the front of the building. Ideally located close to shopping, bus route, banks & restaurants. Large windows allow lots of natural light. This unit has the advantage of huge closets with storage room in unit and an additional storage locker in basement. Both bedrooms are oversize and bright. Master is enhanced with his & her closets and spacious ensuite. This building is newer and well maintained. Restrictions: 55+, Rentals 3 units at a time, Pets 1 dog or 1 cat measuring 15" at shoulder. (id:2493)

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New property listed in Lake Country

I have listed a new property at 11351 Dakota Road in Lake Country. See details here

***Cul-De-Sac Lot*** Amazing Panoramic Scenery - This gracefully sloping hillside property can by yours. Your designer dream home can be built to your specification. Located in the popular district of Lake Country in the Okanagan Valley of British Columbia with no Speculation Tax. This lot has water and sewer at the lot line and offers a grand view of the lake and mountains. Close to schools, shopping, medical/dental offices and the finest of restaurants. Another amazing feature is that you will live close to Kelowna airport and the University of British Columbia, Okanagan. Priced at only $224,900, this is a fabulous opportunity to build the home of your dreams and raise your family in an up and coming neighbourhood without breaking the bank. Don't delay, call today to get all the details on this piece of Paradise. (id:2493)

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The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are member’s of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.