Low Interest Rates Make The Market Rock

Low Interest Rates Make The Market Rock

 

Kelowna Housing Market Interest Rates So Low Your Grand Children Will Not Believe You

The first month of 2015 has passed and the results are in some are very similar to January 2014

The feeling is that we are on the brink of movement in our Kelowna market and time will tell.

Kelowna Residential Sales

2014 January 116

2015 January 101

 

Not a lot of change and hard to tell with only a 15 homes sold in January 2014 over January 2015 but there is a difference in the average sale price

Average Kelowna Housing Market residential sale price

Kelowna Homes Sold in January 2014 average sale price $474,000

Kelowna Homes Sold in January 2015 average sale price $527,000.

Again difficult to judge just by looking at one month’s of sales in each year.

Condo Sales – Similar results

January 2014 34 units sold with an average sale price of $210,000

January 2015 38 units sold with an average sale price of $226,000

The mortgage rates are low with RBC posting a 3 year closed rate of 3.84% which is excellent for anyone considering buying. You probably will not see mortgage rates lower than this, for those sitting on the fence….. it is time to get off.

It is unclear at this time if our Kelowna Housing Market will be influenced by the Oil prices going down. Right now we are seeing most or the real estate activity in our market is with local buyers. The number of listings in Calgary market are up by 40 % and the number of sales were down by 30%.

Calgary Realtor Chris Audette says

“The market here has definitely turned to a buyers choice overall, while some pockets (like townhomes) remain relatively un-phased by the change. Buyers looking to upgrade are well advised to take advantage of the new market and capitalize on the overall home selling and buying strategy to make sense, while folks looking to sell and buy cheaper may be better off to wait and flippers may really want to examine their risk tolerance”.

If you are contemplating buying a Kelowna house or condo this year call or text me at 250-979-8066 for my top 5 picks in your price range

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 property for sale

How To Find Homes Priced $300,000 to $400,000

How To Find Homes Priced $300,000 to $400,000

The Kelowna Homes in this price range is a very fast moving market with many first time home buyers hoping to buy. In a quick moving market it is important to be knowledgeable about the houses in this price range and work with a good mortgage broker and a good Realtor who can help you to understand what to expect and what to look out for.

Mortgage Broker

The mortgage broker can pre qualify you for a mortgage and explain the different types of mortgages and the different conditions of a mortgage such as 1 year, 3 year or 5 year terms on a 20 or 25 year amortization. It is not only the interest rate that is important when choosing a mortgages, sometimes the terms can cost you money if you decide to sell before the term of the mortgage is finished. Take the time to ask your mortgage broker questions and understand your options, it can save you money.

 

A Good Realtor

 

A great Realtor can make the difference between being happy with your purchase and wishing you had looked around more. A Buyers Realtor is representing you the buyer and is guiding you along the route to finding the best location and home that you can afford. Sit down with your Realtor before you go looking at homes and find out what the process is for buying a home in Kelowna . Choosing an area or neighborhoods is important and now is the time to explain the agent what you want to achieve. Are you looking to be close to work or schools? Do you have a pet? Children? How long do you plan on living in the house or condo?

Once you have a price range ,determine an area or areas you would like to live in, and the size of home such as number of bedrooms, it is time to select homes to view. The best Realtor for you is one that is familiar with the area. The Realtor will probably already viewed quite a few of the homes available for sale can recommend which homes or condo you should view.

 

These are a few of the homes available in the $300,000 to $400,000 price range. To view any of these homes

Call Andrew Smith 250-979-8066

Royal LePage Kelowna

 

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 home values

  

 

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