Every month the Okanagan Mainline Real Estate Board (OMREB) does a survey to get a better understanding of buyers. Below is a summary of the survey that shows what types of properties are being bought, the family dynamic of buyers and where the buyers are coming from. If you have any questions about this survey or any other Kelowna real estate stats, call The Dion-Ivans Real Estate Group!

SEPTEMBER SURVEY SUMMARY

Property Type:
22.4% of purchases were by Move-Up Buyers  (down from 25.4% as in August)
20.4% by First Time Buyers  (up from 17.3%)*
13.7% buying Recreation Property  (up from 11.2%)*
12.5% moving from Single Family Home to Strata Unit  (up from 13.5%)*
8.6% buying Revenue/Investment Property  (same as August)
3.9% moving into Retirement Home/Seniors Community  (down from 6.5%)
3.5% moving from Strata property to Single Family Home  (same as August)

* During the month of September, there was an increase in purchases by first-time buyers, recreation property buyers and home owners downsizing to strata units and retirement communities, while move-up buyers and those moving to retirement communities saw a drop from the previous month or remained the same.

Buyer Type (Family Dynamic):
26.8% Empty Nester/Retired (up from 20.1% in August)**
25.3% Two Parent Family/Children (same as August)
19.9% Couple without Children (down from 23.4%)
14.2% Single Male (up from 11.2%)**
10.7% Single Female (down from 13.8%)
3.2% Single Parent with Children (down from 4.5%)

** In September, there were more purchases by empty nesters-retirees and single males, and by single females and single parent families, while all other categories saw decreases or stayed the same.

Moving From: 
46.9% from Within OMREB Board Area  (down from 50.7% in August)
21.7% from Alberta (same as August)
12.0% from Lower Mainland/Vancouver Island  (up from 9.0%)***
9.7% from Other Areas in BC  (down from 10.8%)
5.0% from Saskatchewan/Manitoba (up from 3.4%)***
3.1% from Eastern Canada/Maritimes (up from 1.5%)***
1.6% from Outside Canada  (up from 1.1%)***
0% from NWT/Yukon (down from 1.9%)

*** Compared to August,  there were more buyers moving from the Lower Mainland, Alberta, Saskatchewan and Manitoba, Eastern Canada and Maritimes, and outside Canada but less movement from within the Board area and fewer purchasers from other areas of BC during September.

The more you know about the best way to reach a goal, the more likely you are to get the result you want. So, whether you’re hunting for a new job, assembling a backyard BBQ, or training for a 3 mile run, you’ll want to use a proven process to help you get there.  That certainly holds true when shopping for a new home.  There is a proven process to getting the home you want, in the neighborhood you want, at a price you can afford. Here are the highlights:

1. Get Ready

There’s a lot you must do before you pack your energy snacks in the car and go looking at homes. If you own your current home, you must prepare that property for sale. You should also get financing for a new home pre-approved, so you know exactly how much you can afford.

2. Go Shopping

Your next step is to view the right homes currently available on the market. It’s a good idea to make a wish list of property and neighborhood features you’re looking for in a new home. You may not be able to get everything you want, but you can probably come pretty close.

3. Make an Offer

When you see a home you like, the first thing you’ll need to do is to make an offer. This can be tricky especially if there are other interested buyers.

4. Get an Inspection

Always get the home checked out by a qualified home inspector. A property may have issues, such as a foundation leak, that are not obvious during a viewing.

5. Prepare for the Move

Once you’ve made the purchase, you need to arrange for moving and deal with other details, such as utilities, telephone, mail forwarding and so forth.

Want a smooth home buying process? Call the Dion-Ivans Real Estate Group today!!

September 2013 Market Stats

The Central Okanagan stats for September were just released. Overall the market continues to improve, with sales increasing and listings decreasing!! Below are the detailed stats, contact The Dion-Ivans Real Estate Group for more information!!

The number of property sales in the Okanagan jumped sharply last month, with almost 50 per cent more sales activity than during the same time in 2012.

“Rising home sales combined with a downward trend in active listings have improved overall housing market conditions in the Okanagan and Shuswap. However, we remain firmly in buyers’ market territory,” says Karen Singbeil, president of the Okanagan Mainline Real Estate Board.

“Current conditions suggest stable to modest downward pressure on home prices. Successful home sellers typically have a sharp pencil when setting their asking price as a result of competition amongst sellers.”

Many areas saw a spike in sales, including the Central Zone, which extends from Peachland to Lake Country. Overall sales were up 47.8 per cent, while sales jumped 20.8 per cent in the North Zone, extending from Predator Ridge to Enderby.

The largest jump occurred in the Shuswap zone from Salmon Arm to Revelstoke. Sales for September increased 87.7 per cent and residential sales saw a 133.3 per cent improvement from the same time in 2012.

Overall sales on all property types across the board improved by 45.4 per cent in September, with 663 units sold compared 456 in 2012. Total residential sales for the month rose 48.4 per cent to 586 units compared to 395 in September 2012.

New listings rose 78.5 per cent over last September (to 257 from 144), while overall inventory dipped 2.3 per cent.

There's no doubt about it. If you want to keep your home safe from break-ins, you should have good locks an all doors and windows. An alarm system is also a good idea.

But home security doesn't end with locks and alarms. There are other less obvious ways to keep your home safe. For example:

• Install exterior lights with a motion detection feature. A light suddenly going on will almost always send a potential intruder away.
• Look for – and if possible eliminate – spots around your property where someone can hide.
• Always have some lights on in your home when you're away for an evening.
• Never announce that you're on vacation or otherwise away from your home on social media sites. (Also ask your kids not to do this!)
• Don't leave tempting valuables where they can be easily seen through a window.

In addition to good locking systems on doors and windows, simple precautions like these will significantly lower the risk of a break-in.

Want more ideas? Call The Dion-Ivans Real Estate Group today!!

Whether you're considering buying a particular home, selling your current property – or both – a home inspection can help.

A home inspection is an inspection by a qualified professional who takes a close look at every aspect of a home – structure, wiring, plumbing, and more – and identifies issues you may not have noticed yourself.

For example, a home inspection can reveal that a furnace will need to be replaced soon, or that there is a water leak into the basement that needs to be fixed.

You'll definitely want to get a professional home inspection before you buy a particular property. That's why most offers to purchase a home are conditional upon passing a home inspection. (The last thing you want is to buy your dream home only to discover that the wiring needs to be updated!)

You may also want to get a home inspection on your own home before you list it for sale. A certificate from a qualified professional that states that your home passed inspection will make your property more attractive to buyers.

Many reputable home inspectors are members of a professional industry association.

In Canada:

• Canada Association of Home & Property Inspectors. (http://www.cahpi.ca)
• Professional Home and Property Inspectors of Canada. (http://www.phpic.ca)
• National Home Inspectors Certification Council. (http://www.nationalhomeinspector.org)

It's important to note that certification or licensing is not a requirement in many jurisdictions. So select a home inspector carefully.

Need to find a reputable home inspector? Call The Dion-Ivans Real Estate Group today!!

AUGUST SURVEY SUMMARY

Property Type:
25.4% of purchases were by Move-Up Buyers  (up from 22.8% in July)*
17.3% by First Time Buyers  (down from 17.9%) 
13.5% moving from Single Family Home to Strata Unit  (up from 9.8%)*
11.2% buying Recreation Property  (up from 10.8%)*
8.5% buying Revenue/Investment Property  (down from 11.0%)
6.5% moving into Retirement Home/Seniors Community  (up from 4.5%)*
3.5% moving from Strata property to Single Family Home  (down from 5.7%)

* During the month of August, there was a significant increase in purchases by move-up buyers, home owners downsizing to strata units and retirement communities, as well as recreation property buyers, while other categories saw a drop from the previous month.

Buyer Type (Family Dynamic):
25.3% Two Parent Family/Children (up from 24.0% in July)**
23.4% Couple without Children (up from 23.2%)**
20.1% Empty Nester/Retired (down from 23.2%)
13.8% Single Female (up from 12.2%)**
11.2% Single Male (down from 14.2%)
4.5% Single Parent with Children (up from 2.0%)**

** In August, there were more purchases by two parent families and couples without children, and by single females and single parent families, while all other categories saw decreases.

Moving From: 
50.7% from Within OMREB Board Area  (down from 54.7% in July)
21.6% from Alberta (up from 14.8%)***
10.8% from Other Areas in BC  (up from 10.5%)***
9.0% from Lower Mainland/Vancouver Island  (down from 12.1%)
3.4% from Saskatchewan/Manitoba (up from 2.0%)***
1.9% from NWT/Yukon (up from 0.8%)***
1.5% from Eastern Canada/Maritimes (down from 3.5%)
1.1% from Outside Canada  (down from 1.6%)

*** Compared to July, there were more buyers moving from Alberta, other areas of BC, Saskatchewan and Manitoba, and the Northwest Territories and Yukon, but less movement from within the Board area and fewer purchasers from the Lower Mainland and Vancouver Island, Eastern Canada and the Maritimes, and from outside Canada during August. 

Information provided by www.omreb.com. For more information call The Dion-Ivans Real Estate Group today!!