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!!

The draw of the Okanagan Valley saw me relocate to Kelowna over a decade ago to pursue my post-secondary education. Since then, I have proudly called the city home and have no desire to move elsewhere! The golf, fishing, and outdoor activities that the area has to offer keep me active while my wife Meghan, kids (Dalyce, Rylee & Ryker) and two dogs (Duke and Turbo) keep me busy! I have travelled and lived abroad but have yet to come across a community as diverse, vibrant, and welcoming as Kelowna. We love it here. My experience moving and settling into the community is a strong asset for those interested in doing the same. I understand the concerns and anxieties that come with relocation and can certainly ease the transition with my knowledge of the city and what is has to offer.

 

I am industrious and dedicated to meeting your needs- whether it be buying or selling. My education and background lends strength to marketing your home or your purchasing goals. I completed a Bachelor of Business Administration with a focus in Marketing (OUC) as well as a year studying International Business at Hodgeschool Zeeland International University in Holland. My work experience in sales and management with both Bacardi and Maxxium Canada helped maximize my communication and teamwork skills; both of which are valuable traits that contribute to the relashionship I develope with my clients. I sincerely enjoy the real estate industry and look forward to seeing the smile on a client's face when a contract is signed.  

 

If you are interested in the local market, would like to purchase a home, or would simply be interested in approaches to marketing your home for a sale, please contact me. I am certain I will be able to turn your hopes into a reality!

There is no doubt that being born and raised in Kelowna has built a strong framework for my expertise on the local real estate market. My family, for generations back, has called the region home and for good reason- it is a beautiful, plentiful playground with a neighborhood that suits every lifestyle and need.

Being aware of this, I strive to take full advantage of what the community has to offer. I have snowboarded for years at Big White, while watching the hill expand and grow to the world -class ski resort it is today. During the summer I play in beautiful Okanagan Lake in between fishing excursions throughout the surrounding area. Volleyball and other team sports round out of my active pursuits, all of which are enjoyed with my wife, Erin.  

For many clients, finding the right home in the perfect neighborhood can be a challenging combination. My in-depth knowledge of the established community along with a strong handle on new development creates a vital combination in helping you find exactly what you envision.  Whether a first time buyer, condo seeker, or luxury vacation home hunter I am motivated and keen to secure your satisfaction. This city has a lot to offer and I know where to find it!   

Energy and creativity are two of my personality traits that contribute to the guarantee that I will work hard for you. Whether selling or buying, my proactive, honest, and communicative approach will certainly finalize each deal. To support my outgoing and innovative ways, I have a Bachelor’s Degree in Marketing (O.U.C.) along with sales and managerial work experience for both Molson and Maxxium Canada. My real estate education was through U.B.C.’s Sauder School of Business. 

Most importantly I want you to feel secure that I am an expert on the local market, that I will listen to and understand your needs and that I will undoubtedly work hard for you. If you are interested in selling or purchasing a home, or simply interested in learning more about the local market and what I have to offer, please get in touch!

The Bank of Canada announced this morning that it is maintaining its target for the overnight rate at 1 per cent. In its accompanying statement, the Bank highlighted that an uncertain global economy is delaying an expected rotation of growth in Canada toward exports and investment. This means that the burden of economic growth will remain on households at a time when most households are deleveraging and looking to slow consumption. All of this adds up to a Canadian economy that will grow below trend in 2013, likely at a rate of around 1.5 per cent.  Below trend growth will translate to continued subdued inflation, which the Bank anticipates will return slowly to its 2 per cent target in 2014. As for the Bank's tightening bias, language around the withdrawal of monetary stimulus has been significantly moderated. The Bank anticipates a gradual normalization of policy interest rates as conditions for inflation, growth and household debt normalize.

Rising long-term Canadian interest rates, along with somewhat soft economic growth through the first half of 2013, have taken some urgency out of future monetary policy tightening. In particular, higher long-term rates will further slow growth in household debt via higher mortgage and other key lending rates which will allow the Bank to push increases in its overnight out to late 2014 or early 2015.

Information provided by www.bcrea.bc.ca

For more information call The Dion-Ivans Real Estate Group today!!