North Okanagan real estate Archives

FOREIGN BUYERS BAN

Prohibiting The Purchase of Residential Property By Non-Canadians December 30, 2022 Starting in January 2023, the new Federally Legislated Act will prohibit individuals who are not Canadian citizens or permanent residents of Canada (collectively, “non-Canadians”) from purchasing residential property in Canada for a period of two years. The prohibition also applies to corporations that are [&hellip

Big Assessements Won’t Turn Into Huge Property Tax Increase

Big 2022 Assessments Won’t Turn Into Huge Property Tax Increase Vernon, BC – North Okanagan residents were shocked to see the new 2022 BC Property Assessments come out and like many, we are all concerned that this would turn into huge property tax increases. However, that is not necessarily the case. Local assessments for property [&hellip

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 stress [&hellip

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? Higher [&hellip

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 pointing [&hellip

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 to [&hellip

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 home [&hellip

August Sales Held But Vacation And Lakeshore Improved

August Sales Held But Vacation And Lakeshore Improved By Michael Kinghorn August sales were slower for homes in the North Okanagan, showing a slight decline over last month, but despite the slower than anticipated market, there was still movement in our higher end listings. This, despite all of the roadblocks put in place by the [&hellip

July Sales Improved – Strong August Next?

July Sales Improved – Strong August Next? By Michael Kinghorn July sales improved for Priscilla and Company, bucking the trend we are seeing in the North Okanagan. We were a part of one sale over $2MM and two more over $1MM, while also getting two more sales over $900K. That is in contrast to the [&hellip

Is This The Time To Sell?

North Okanagan Real Estate – Is This The Right Time To Sell? By Michael Kinghorn All the talk recently has been about how the Real Estate market has taken a down turn. While that may be the case in larger urban centres such as Toronto and Vancouver, we don’t think that is the case in [&hellip

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