2 Story For Sale in Glenmore

2 Story For Sale in Glenmore


2 Story For Sale in Glenmore

SOLD Best Priced Townhouse in Glenmore

• 1,400 sq. ft., 2 bath, 2 bdrm 2 story – $189,000 – PRICE REDUCED!!!!!

Glenmore, Kelowna – Spacious 2 bedroom/ 2 bath plus Den/Familyroom located close to downtown in Glenmore Familyroom could be used as 3rd bedroom.. Easy access to shopping, buses and parks.

Professionally painted, new carpet, updated bathrooms and kitchen.
Great opportunity for 1st time home buyer.
Ask us about “RENT TO OWN!”
Small pets allowed.

 

Living in Kelowna,
Andrew Smith and Jo Ann McLellan
Smith McLellan Group
Royal LePage Kelowna
Info@OkanaganBC.com
To view homes go to www.Okanaganbc.com
250-979-8066 or Toll Free 1-800-330-5883
Follow me on Twitter @smithap01

Kelowna’s Upper Mission in the Spotlight

Kelowna’s Upper Mission in the Spotlight

I spent the last few days looking at homes in Kelowna’s Upper Mission area which has to be one of the nicest neighbourhoods in Canada. Great schools, little crime, people looking out for one another, jaw dropping views of the lake, luxurious houses complete with media rooms, oversized decks, gyms, 2nd kitchens, amazing ensuites, flatscreen TVs in every room….you get the picture. Upper and Lower Mission are two areas where students on standardized tests outperform students from private schools. Click HERE for an example of what you can buy in Upper Mission.

Out of 235 active residential homes for sale in Upper Mission, 25{f0a0a72383b5d412aa1cdd82beeb3baa9f2169d63afba57b72be67b4c5074c09} of them are priced over $1 million with the average asking price being $1,050,000. On the other end of the spectrum, there are only a handful of homes under $400,000 with the most affordable being $397,000.

The average sale price in this area this year is $690,000 which is quite a leap from a million dollar average asking price. There have been 93 sales this year making UM a buyer’s market with home buyers having dozens of choices when looking. Something has to give here. Either an influx of high end buyers materialize soon or prices have to eventually soften.

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

Kelowna Foreclosure Best Buys

Kelowna Foreclosure Best Buys

There were 75 foreclosure sales in Kelowna for the years 2004 through 2008. No news there really unless you were personally involved but what has to be an alarming statistic is that there have been 77 already this year and we’re still in the 2nd quarter.

The foreclosure sales numbers for 2008, 2009 and 2010 were 11, 82 and 135 respectively so there’s clearly an upward trend despite rock bottom interest rates, a reasonably OK economy, new university and large scale infrastructure projects. Currently with 105 foreclosures on the market right now, a buyer has many options including 22 properties priced under $200,000 and 7 over $1 million.

Buying a Kelowna Foreclosure condo does take some care and a buyer should work with an experienced Realtor who can guide you to a successful Kelowna Foreclosure Condo.

If the condo is vacant then it is more likely that what you see is what you will get on possession day. If the condo is tenanted then you can not be guaranteed about the condition of the condo when you do take possession and it is most likely the appliances will not be there on the day you receive the keys.

 

Some of the condos in today’s foreclosures have never been lived in and you will be purchasing a new condo that was foreclosed on the developer by the bank. You can ask the Realtor if the condo has been previously occupied

There are  22 foreclosure listings  priced under $200,000 and are mostly condominiums. If you are considering purchasing a foreclosure condo call Andrew Smith for a FREE list of Kelowna Foreclosures

 

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 Okanogan homes for sale

Big White Ski Resort Real Estate Market

Big White Ski Resort Real Estate Market

What a wonderful place to spend a day, weekend or family vacation. Big White has world class skiing with, great restaurants, 100{f0a0a72383b5d412aa1cdd82beeb3baa9f2169d63afba57b72be67b4c5074c09} ski in/out accommodation and is only about 45 minutes from Kelowna.  The Highway 33 is well groomed in the winter and makes access quick simple.

The Big White Resort is designed for the whole family to enjoy.  The resort has invested in  an out door ice skating rink which attracts a lot of family hockey games and everyone just joins in. They do offer ice skate rental, but bring your own hockey stick. There is also tubing  with different slides designed for all ages.

Big White happens to be one of my favorite places to spend Christmas and New Years.

The Kelowna real estate market up there has gone through what looks like a triple dip recession with prices for housing units bouncing all over the place. Currently there are 187 units for sale with price points for all budgets. If you’re looking for a vacation home with over 5,100 square feet there’s a $4.8 million dollar home for you? On the other end of spectrum, there’s a $37,000 condo in the Snow Ghost Inn. There are 20 homes priced under $100,000 and 5 over $1 million with the average asking price being $357,000. The average days on market for active listings is 255 days. On the sales side….

Unit Sales Ave. Sale Price

June 2005-Sept 2006 (ski season) 98 $315,000

2006/07 130 $207,000

2007/08 103 $337,000

2008/09 47 $233,000

2009/10 90 $304,000

2010/11 48 $230,000

There’s likely never been a better time ever to make an offer on a Big White condo with prices as low as they are and so much inventory on the market for so long. The doom and gloomers out there might suggest the average sale price still has room to fall but I’d wager a Canucks game day donut that with anyone that the 2011/12 average will be up significantly.

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 property for sale

Will The Average Sale Price of a Home in Kelowna be $460,000 or ….

Will The Average Sale Price of a Home in Kelowna be $460,000 or ….

Will the sale price of a Kelowna home next year be $460,000 or $520,000??

The Kelowna residential real estate market has been known to change quickly but over time, like most places, it increases and proves to be a sensible investment. Let’s look closely at the average sale price of homes sold in May in Kelowna...

Year No. of Solds Average Sale Price

2001 245 $198,000

2003 263 $244,000

2006 287 $429,000

2008 224 $563,000

2009 216 $505,000

2010 217 $523,000

2011 197 $487,000

So, $460,000 or $520,000 next year? Don’t feel badly if you’re not sure…neither am I.

I talk to buyers and sellers every day and there’s a significant disconnect right now with most buyers believing that homes are overpriced and will likely decrease, while most sellers think prices have already bottomed out. Who’s right? The media can spin a $487,000 averages sale price two ways by focussing on the fact that it’s down farily significantly from the height of the boom, then the next day a different reporter might say that house values have more than doubled (146{f0a0a72383b5d412aa1cdd82beeb3baa9f2169d63afba57b72be67b4c5074c09} increase) in the past ten years. Do you celebrate the decade or beat yourself up for not selling in early 2008?

When Jo-Ann and I started selling real estate here in 1996, pricing a home was simple. A typical bi-level in Rutland would sell in the $140,000-$150,000 range depending on if there were 2 or 3 bedrooms upstairs and Glenmore $160,000-$170,000. It was a simpler time and we could use comparable sales from the previous 3 or 4 years because values hadn’t changed and we were often able to assess a home by the time we walked from the driveway to the front door. These days it takes hours to determine a home’s value and market conditions change quickly. A quoted estimate in June or July probably won’t be the same in October or November.

Right now, there is an 11 month supply of homes on the market which is reasonably healthy. Buyers still have plenty of options while sharply priced homes are selling.

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 properties for sale Kelowna BC