March 2011 Quick Market Update

With almost a week left in the month, our market has generated the same the same number of sales, 160, as we did for the entire month of March 2010 with the average sale price remaining constant in the $450’s. This is terrific news as we enter the always busy (ok…usually busy) Spring market. With six days remaining including a full weekend we should easily shatter 180 sales this month. Stay tuned!

Living in Kelowna,
Andrew Smith
Smith McLellan Group
Royal LePage Kelowna
Info@OkanaganBC.com
To view homes go to www.Okanaganbc.com
250-979-8066
Follow me on Twitter @smithap01

Strata Property Management Companies In Kelowna

Strata Property Management Companies In Kelowna

My first Kelowna condominium listing was in 1993 in Vancouver. I remember it was on Pacific Avenue almost underneath the Burrard street bridge and noise, exhaust fumes and lots of dirt and grime on the balcony. Dealing with the strata management company was over-the-top difficult because I remember having to drive into Richmond to order the strata documents (minutes, bylaws, financials etc.) , pay in advance, then wait for them to mail them to me. No faxing, no email, no ordering by phone…..it was as though they went out of their way to make life difficult for realtors.

Fast forward to Kelowna 2011. Nowadays I can order strata minutes from a local strata company from my computer, pay using paypal and receive the documents in minutes without leaving my chair. I don’t care that the printing of these papers (average about 200 per condo sale) is now my responsibility because I’ll gladly give up toner for immediacy.

Understanding what a Strata Property management company does for the strata s is commonly misunderstood by the owners of the condos or townhomes. A Property management company can help  keep the financial statements in order and advise on legal matters concerning strata bylaws and rules. The property mtg company usually looks after the many contractors who do maintenance and snow removal and garbage removal and the utility companies. They also keep all the minutes of the strata meetings on file. One of the benefits when a condo is on the market and receives an offer is that the Realtors contact the Property mtg company for a “Realtors Package ” which contains the Bylaws, 2 years of Minutes and ad financial statements and the latest depreciation report if the strata has had one done

 

Thinking of purchasing a condo or townhome? Call a strata expert Andrew Smith

Realtor Andrew Smith
Living in Kelowna,
Andrew Smith
Royal LePage Kelowna
250-979-8066 or Toll Free 1-877-330-5884
Follow me on Twitter @smithap01

Cal for more information https://www.okanaganbc.com/ or view here Kelowna residential sales

Quick, Short Market update…Week of March 11-18

Quick, Short Market update…Week of March 11-18

Quick, short market update…Week of March 11-18

The week in Kelowna ended with 51 residential sales this week and 27 strata/ Kelowna condominium sales. We cracked the half million mark with a $500,061 avg sale price! High end of our market has some life to it after all and those who predicted it would take years to see $500,000 better take a second look at your forecast.

Royal LePage Kelowna was nominated by the City of Kelowna as the best civic minded company in town. We are one of 3 finalists with Prospera Credit Union and Kelowna Walmart.

Shameless self promotion coming up…. Royal LePage had their annual awards luncheon this week and Jo-Ann and I are both recipients of the Award of Excellence. This means we are both top 10% producers in our company, nationally, for 5 of the last 7 years.

Have a great weekend everyone….Looking forward to a busy weekend helping people find the perfect houses.

Realtor Andrew Smith
Living in Kelowna,
Andrew Smith
Royal LePage Kelowna
1-1890 Cooper Rd, Kelowna, BC V1Y 8B7
250-979-8066 or Toll Free 1-877-330-5884
Follow me on Twitter @smithap01

Cal for more information https://www.okanaganbc.com/ or view here Kelowna condominium sales

First Quarter Update…and playoff predictions

First Quarter Update…and playoff predictions

First Quarter Update…and playoff predictions

The first quarter report card is in for the Kelowna market and the results are a “B”. We generated 451 sales for the quarter with the average house selling for $480,000. The same quarter in 2010 produced only 431 housing unit sales which means buyers are out early and we can confidently predict a successful real estate year. The average price this time last year was $510,000 however the majority of sales has come from the local “move up” buyer instead of the out of town buyer.

The month of March saw a virtual tie in prices with the average in March 2011 being $486,000 compared to $489,000 for March 2010. There were 201 sales last month which is encouraging for the rest of the year. No one is predicting what will happen to housing sales with the federal election but I don’t imagine it will have much impact. We’re all so accustomed to voting anyway.

I just returned from a trip to Victoria for a few days visiting real estate offices. I sat in on a meeting and couldn’t believe the prices there. Every other new listing being reported was over $1 million. It certainly is a beautiful city and I can understand why people choose to retire there. I was particularly impressed with the senior citizens going for their daily long walks in the pouring rain with their Tilley hats and the look of steely determination. I hope that’s me some day.

This time next month when I write about April housing numbers, I predict the Canucks and Red Wings will be on a collision course for the Western Conference finals while Boston and Washington shine in the east.

Realtor Andrew Smith
Living in Kelowna,
Andrew Smith
Royal LePage Kelowna
250-979-8066 or Toll Free 1-877-330-5884
Follow me on Twitter @smithap01

Cal for more information https://www.okanaganbc.com/ or view here Okanagan valley bc real estate

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