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Closing day is an exciting time. After all, you’re moving into your new home! However, it can be stressful as well. The last thing you need is to be confronted with something you don’t understand. So here is a quick list of common “closing day” terms.

 

  • Disbursements. This is the allocation of funds to the appropriate parties, such as the seller. Your lawyer will take care of this for you.

 

  • Possession. This is the moment on closing day when you are legally able to take possession of your new home. It’s usually when your REALTOR® or lawyer hands you the keys.

 

  • Title. This is a legal document that identifies the property and its owner.

 

  • Closing costs. These are expenses, excluding the selling cost of the property, that are due on closing day, such as legal fees, reimbursement for pre-paid utilities, utility deposits, insurance, and taxes.

 

  • Closing adjustments. These are expenses pre-paid by the seller that need to be reimbursed on closing.

 

There may be other terms you come across on closing day as well. Don’t worry, a good REALTOR® can help make the day go smoothly for you and your family.

 

Looking for a good REALTOR®? Call The Dion-Ivans Real Estate Team today!!

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Do you have a renovation project in mind – and wonder how much value it will add to your home? Remodeling Magazine recently did a study of renovation projects, comparing costs to added value. Here are some of the results:

 

Replacing a main entry door has a return on investment of over 95%. After all, the entrance to a home is one of the first things a prospective buyer notices.

 

Adding a new deck also adds a lot of value. Depending on the materials used, you can expect to get back three-quarters of the money invested.

 

Another high-payback project is the garage door. This once again demonstrates the importance of a home’s “curb appeal.”

 

If you’re tackling a big project, such as a basement renovation, you’ll be glad to know that, according to the study, a project like this adds a lot of value.

 

Finally, minor improvements to bathrooms and kitchens – such as adding new countertops or cupboards, can also be good investments that mostly pay back when you sell your home.

 

Of course, these figures are averages and can vary widely depending on location, type of property, and other factors.

 

Need help determining how a particular home improvement might impact the selling price?

 

For more info, call today The Dion-Ivans Real Estate Team today!!

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We just listed a new property located at 536 Curlew Drive in Kelowna.
STUNNING UPPER MISSION HOME WITH TONS OF CHARACTER!! This unique home features soaring vaulted ceilings, a stone fireplace, fresh paint, 3 bedrooms up including a large master, a private patio & is situated on a .32 acre lot!! The location is stellar, great neighborhood, close to schools and minutes from shopping & rec facilities. For someone not looking for your average 'cookie cutter' home, this could be a perfect fit! The home has been well maintained, simply move in and enjoy! Contact THE DION-IVANS REAL ESTATE TEAM (250-575-5255) of Royal LePage Kelowna for more information or visit WWW.KELOWNAHOMEFINDERS.CA.
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We just listed a new property located at 1162 Bergamot Avenue in Kelowna.
This Chic Upper Mission Home boasts beautiful lake, mountain, valley and city views, along with a 1 bdrm in-law suite with private entrance and laundry. Built in 2011 and located in The Ponds Phase II development, with an open-concept main floor kitchen/living/den/dining area that is perfect for entertaining...or head through the glass wall sliding doors to the covered deck to enjoy the views! Stainless steel appliance package, 8 speaker in ceiling sound system throughout the house, double car garage and security system. 3 beds/2 baths up plus laundry. Neighborhood features a new Village Centre under construction with a grocery store, pharmacy, restaurant, retail shopping, medical services, etc. - over 6.8 acres of new commercial only 3 blocks from your door. Out your back door is 450 acres of outdoor beauty to enjoy including 22 kms of hiking and biking trails. Contact THE DION-IVANS REAL ESTATE TEAM (250-575-5455) of Royal LePage Kelowna for your own personal tour or visit WWW.KELOWNAHOMEFINDERS.CA for more information.
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We just SOLD a property located at 206 669 Houghton Road in Kelowna.
This corner unit is sure to impress! It is bright with tons of natural light, an open floor plan and well appointed throughout. The condo has been renovated from top to bottom...new lighting, flooring, paint & kitchen backsplash. The large deck space of the home is great for relaxing and people watching. The development is located directly on the Houghton Rd Recreation Corridor which leads to one of the best Recreational Parks in Kelowna Ben Lee Park! It is also walking distance to schools, shopping, restaurants and a quick bus ride to UBCO. Why rent when you could own this spotless condo! Contact THE DION-IVANS REAL ESTATE TEAM (250-575-5455) of Royal LePage Kelowna for your own personal tour or visit WWW.KELOWNAHOMEFINDERS.CA for more information.
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The Bank of Canada announced this morning that it is maintaining its target for the overnight rate at 0.75 per cent. In the press release accompanying the decision, the Bank noted that inflation in Canada continues to evolve as forecast with core inflation boosted by a lower dollar while CPI inflation remains near the bottom of the Bank's 1-3 per cent control range due to the transitory effects of lower energy prices. The Bank sees the underlying trend of inflation at 1.6 to 1.8 per cent, which is consistent with persistent slack in the economy. The Bank's outlook for economic growth remains largely unchanged from its previous forecast with expectation of a solid recovery beginning in the second quarter. 

With oil prices stabilizing and core inflation firming around its 2 per cent target, a further loosening of monetary policy is becoming more unlikely. If growth recovers as the Bank forecasts over the next couple of quarters, attention will shift once again to the timing of future rate increases. While we do not expect the Bank to act on interest rates for the remainder of the year, long-term bond yields and therefore mortgage rates are likely to rise from their current lows as growth improves and the US Federal Reserve begins raising its own target rate later this year. 


For more information contact The Dion-Ivans Real Estate Team today!!


“Copyright British Columbia Real Estate Association. Reprinted with permission.”

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We just SOLD a property located at 669 Houghton Road # 206 in Kelowna.
This corner unit is sure to impress! It is bright with tons of natural light, an open floor plan and well appointed throughout. The condo has been renovated from top to bottom...new lighting, flooring, paint kitchen backsplash. The large deck space of the home is great for relaxing and people watching. The development is located directly on the Houghton Rd Recreation Corridor which leads to one of the best Recreational Parks in Kelowna Ben Lee Park! It is also walking distance to schools, shopping, restaurants and a quick bus ride to UBCO. Why rent when you could own this spotless condo! Contact THE DION-IVANS REAL ESTATE TEAM (250-575-5455) of Royal LePage Kelowna for your own personal tour or visit WWW.KELOWNAHOMEFINDERS.CA for more information.
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We just listed a new property located at 770 Fife Road in Kelowna.
Completely Updated Home with an ABSOLUTELY AMAZING 2 Bedroom Suite located on a Cul De Sac! The main floor of this home has 2 bedrooms + a den and features bamboo floors, stainless appliances, 2 faux wood blinds, a beautiful gas fireplace, and a spa like bathroom!! The lower level of the home has a 2 bedroom suite that has an excellent set up! It has a large kitchen with tons of counter space, glistening black appliances and heated tile floors! The bathroom on the lower level has also been completely updated! The deck on this home is HUGE and makes for a great space for entertaining or just relaxing. There is lots of green-space out back with a large mature tree providing good shade for all those hot summer days. There is even a fully insulated work shop w/ power perfect for the handyman! This home is great valuenew roof, new windows, and sewer levy paid!! Contact THE DION-IVANS REAL ESTATE TEAM (250-575-5455) of Royal LePage Kelowna for more information or visit WWW.KELOWNAHOMEFINDERS.CA.
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We just listed a new property located at 202 3739 Casorso Road in Kelowna.
ARE YOU LOOKING FOR A CONDO THAT HAS ALL THE UPGRADES + 2 U/G PARKING STALLS, 2 STORAGE LOCKERS, ON THE QUIET SIDE OF THE BUILDING AND IS WALKING DISTANCE TO OKANAGAN LAKE!? LOOK NO FURTHER!! This 2 bed, 2 bath unit has all the upgradesgranite counter tops throughout, stainless appliances, espresso cabinets, vinyl plank flooring along with 2 U/G parking spots with storage lockers directly in front of them. The bedrooms are split between the living area giving each bedroom privacy. The master bedroom is generous in size including a double closet and 3 pce ensuite! The development even has a clubhouse which offers a fitness area, lounge area, pool table, and kitchen! This condo has a stellar location in the Lower Mission close to beaches, shopping, and recreation!! Contact THE DION-IVANS REAL ESTATE TEAM (250-575-5455) of Royal LePage Kelowna for more information or visit WWW.KELOWNAHOMEFINDERS.CA.
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We just SOLD a property located at 303 980 Glenwood Avenue in Kelowna.
Immaculate 2 Bed, 2 Bath unit in the desirable Shaughnessy Green development. This beautiful unit is situated on the top floor facing southwest with great views of the mountains and city. The bedrooms are separated by the living room giving each room great privacy. The entrance to the home has a large skylight making the home extremely bright and inviting. The kitchen offers lots of cupboard space and a very functional layout that also connects nicely to the dining room area. The deck of the home has been enclosed giving extra living space year round. Shaughnessy Green is a very well taken care of development and has an extremely central locationclose to shopping, healthcare, and Okanagan Lake. The clubhouse is loaded with activities pool table, shuffle board, sitting area w/ a gas fireplace, outside barbecue area, full kitchen, and a library. The development even has a guest suite for people coming to visit! Call or Text THE DION-IVANS REAL ESTATE TEAM (250-575-5455) of Royal LePage Kelowna for your own personal tour or visit WWW.KELOWNAHOMEFINDERS.CA for more information.
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We just listed a new property located at 3311 1990 Upper Sundance Drive in West Kelowna.
LARGEST UNIT IN THE BUILDING WITH ALL THE UP-GRADES!! This top floor unit overlooks the POOL/HOT TUB & features over 1,200 SF, 2 large beds + a den, 2 baths, 2 PARKING STALLS, hand scraped hardwood, stainless appliances, granite throughout, & a huge deck. The strata fee INCLUDES; GAS, WATER, HEATING/COOLING plus much more! The building features a guest suite & a ROOF TOP PATIO with stunning Lake, Mountain, & City views. Walking distance to Shannon Lake Golf Course & only 15 minutes to Kelowna. Contact THE DION-IVANS REAL ESTATE TEAM (250-575-5255) of Royal LePage Kelowna for more information or visit WWW.KELOWNAHOMEFINDERS.CA.
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We just SOLD a property located at 3348 Hall Road in Kelowna.
Charming two story family home in the DESIRABLE HALL RD AREA on .43 of an ACRE!! This home features 3 large bedrooms up, an updated kitchen with stainless appliances & granite, a separate family room & separate kids play room, new hardwood flooring, heated tile, newer roof, newer windows, newer paint & a HUGE TREXX DECK/PATIO area with a pergola leading out to a PARK LIKE BACKYARD!! Contact THE DION-IVANS REAL ESTATE TEAM (250-575-5255) of Royal LePage Kelowna for your own personal tour or visit WWW.KELOWNAHOMEFINDERS.CA for more information.
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