Market Update

Coronavirus And Real Estate – What’s The Impact?

Coronavirus And Real Estate – What’s The Impact?

CORONAVIRUS AND REAL ESTATE – WHAT’S THE IMPACT? March 13, 2020 COVID-19, also called the coronavirus is a respiratory illness the World Health Organization has deemed a pandemic. While it has not yet affected the start of the spring real estate season yet, it could. But what isn’t clear is what that means for …

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SilverStar Mountain Gets Approval to Form Association

SilverStar Mountain Gets Approval to Form Association

SilverStar Mountain Gets Approval To Form Association March 11, 2020 SilverStar, BC – The BC government has given the ‘go ahead’ to the residents and businesses of SilverStar Mountain Resort to form an association, which could pave the way for a number of economic and social benefits in the North Okanagan. The Silver Star …

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Mortgage Stress Test Changes – What You Need To Know

Mortgage Stress Test Changes – What You Need To Know

New Mortgage Stress Test Rules February 20, 2020 This coming April, the government will change the rules that cover mortgage lending. These changes should make it easier to qualify for a loan to buy a home. As of April 6, the so-called “stress test” for mortgages will be calculated in a new way. The …

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Applications For Secondary Residences on ALR Land Nearing Deadline

Applications For Secondary Residences on ALR Land Nearing Deadline

Deadline Approaching for ALR Secondary Residences Application January 20, 2020. – A recent decision to cease the taking of applications for secondary residences on ALR land is coming near. The deadline imposed by the Regional District of North Okanagan (RDNO) to submit applications is Thursday, January 23, 2020. As of February 22, 2020, it …

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Stress Test Impact On BC Home Sales

Stress Test Impact On BC Home Sales

Stress Test Impact On BC Home Sales July 16, 2019 Was the B20 Mortgage Stress Test the main cause of home sales across Canada plummeting to start 2018? Were there other factors?  The implementation of new federal and provincial housing policies designed to temper the hot BC housing market could have been a cause? …

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RBC Offering Great Mortgage Rates

RBC Offering Great Mortgage Rates April 9, 2019 Well, it finally looks like spring has sprung in the Okanagan and we hope that you are getting outside to take advantage of the beautiful weather. Now it’s your turn to take advantage of some great mortgage rates offered by the big banks! All signs are …

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February 2019 Real Estate Market Stats

February 2019 Real Estate Market Stats

February 2019 Real Estate Market Stats March is here and the sun is shining! Hopefully, Spring is on its way. In Real Estate, February was another month where the market continued to correct. Sales volume, average price and days on market for single family homes in the North Okanagan residential market seem to have …

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Home Prices Up, Sales Slowed – October 2018

Home Prices Up, Sales Slowed – October 2018

Home Prices Up, Sales Slowed – October 2018 Home prices have continued to rise month over month in the North Okanagan and Shuswap. There was a slight rise in September and another 3% rise again for single family homes again in October. However sales were down again month over month and new listings continued …

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BC Speculation Tax Will Go Ahead

BC Speculation Tax Is Going Ahead The news every vacation property owner in British Columbia didn’t want to hear was just announced by the BC Government. Last week they, and the BC Green party, reached an agreement to institute the unpopular tax. This announcement comes, despite push back from local governments and mayors.  While …

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Sales Slowed In September But Vacation and Lakeshore Picking Up

Sales Slowed In September But Vacation and Lakeshore Picking Up

Sales Slowed In September But Lakeshore Up By Michael Kinghorn Home prices have continued to rise in the North Okanagan and Shuswap despite a decline in actual sales of residential property. This ‘re-balancing’ of the market has seen it move from a more of a sellers’ market to one that is more even between …

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