Below are the results of the Central Okanagan Buyers Survey:

Property Type:
29.3% of purchases were by Move-Up Buyers
22.8% by First Time Buyers
16.8% moving from Single Family Home to Strata Unit
7.6% purchasing Recreation Property  
6.0% buying Revenue/Investment Property
5.4% moving from Strata property to Single Family Home 
4.3% moving into Retirement Home/Seniors Community

Buyer Type (Family Dynamic):
31.8% Two parent family/children
20.8% Couple without children 
16.7% Empty Nesters/Retired 
13.5% Single Female
13.0% Single Male
4.2% Single Parent with children

Moving From: 
55.4% from Within OMREB Board Area
13.0% from Alberta
12.4% from Lower Mainland/Vancouver Island  (up from 7.7% in May) *
10.4% from Other Areas in BC 
3.6% from Saskatchewan/Manitoba  (up from 0.9% in May) *
3.1% from Outside Canada  (1.4% in May)
2.1% from Eastern Canada/Maritimes
0% from NWT/Yukon (10th month reported)

Information provided by www.omreb.com

The Bank of Canada has once again decided to keep its overnight rate at 1 per cent. The statement released this morning in support of the interest rate decision noted that global growth prospects have cooled since the Bank's April Monetary Policy Report and this cooling will restrain Canadian economic activity. However, the bank also noted that domestic factors, and in particular consumption and business investment, will help support moderate growth.  As we expected, the Bank lowered its forecast for economic growth in 2012 from 2.4 per cent to 2.1 per cent and to 2.3 per cent in 2013, which matches BCREA's forecast.  Despite slower growth, the Bank still expects the economy to reach full capacity by the second half of 2013, while inflation will remain at or very close to 2 per cent over the Bank's projection horizon.

Most notable in the Bank's statement accompanying the interest rate decision was that the Bank continues to include language suggesting a modest withdrawal of monetary stimulus (ie. rate increases) as excess slack in the economy is absorbed. This suggests that the Bank's timeline for tightening monetary policy has not been materially changed by ongoing global economic uncertainty or recent changes to Canadian mortgage rules. Absent any serious shocks to the economy we expect the Bank to begin tightening in the first quarter of 2013.

Information provided by www.bcrea.bc.ca

Finding the right home involves more than just finding the right property. The location plays an important role as well.  The last thing you want is to be dazzled into buying what looks like a dream home, only to discover later on that the location makes it inconvenient to get to work, school and other activities. 

So when you see a property you like, take a drive around the area. Drive to the local school your kids will be attending. Drive to the highway you take to work. Drive to activities you and your family enjoy, such as golf, movies, and swimming.

By spending some time exploring the area by car, you’ll get a feel for what life is going to be like living there.

Canadian housing starts rose 2.4 per cent in June to a seasonally adjusted annual rate of 222,700 starts.  New home construction in BC urban centres showed strong growth for the second straight month, registering a robust 34,100 starts (SAAR) in June, a gain of 31 per cent over May.  On a year-over-year basis, BC housing starts were 60 per cent higher than June 2011. BC Housing starts are 13 per cent higher through the first half of 2012, the result of an 18 per cent increase in multi-family starts while single-family construction has been flat.

BC's strong new home construction was led by a jump in multi-family construction in Vancouver which rose close to 70 per cent year-over-year in June, including a near doubling of multi-family units compared to June 2011. Single family starts, however, continue to moderate, falling 7 per cent year-over-year. Abbotsford new home construction fell 21 per cent year-over-year in June due to a 26 per cent dip in single-family starts and a 9 per cent decline in multi-family starts. Housing starts in Victoria rebounded from a weak May as total starts rose 30 per cent year-over-year on balanced growth between single and multi-family starts. Finally, new home construction in Kelowna fell 15 per cent, largely due to weak multi-family starts. 

Information provided by www.bcrea.bc.ca

Canadian employment held steady for the second consecutive month in June while the National unemployment rate ticked down by 0.1 points to 7.2 per cent.  Year-over-year, Canadian employment was 1 per cent higher than June 2011.  The BC economy added 3,200 jobs last month, including 2,400 full-time positions. Higher payrolls combined with a large drop in the labour force to push the BC unemployment rate down 0.8 points to 6.6 per cent. However, the provincial unemployment rate has been unusually volatile in recent months and we expect that June's big decline is mostly temporary.  June employment numbers were 2.3 per cent higher compared with 2011.

South of the border disappointing jobs creation continued with just 80,000 new jobs added in June, falling well short of already diminished expectations of 100,000 new jobs. The US unemployment rate held steady at 8.2 per cent.

Information provided by www.bcrea.bc.ca

How do you select the best moving company for your needs?

• Ask for recommendations from friends other professionals in the local real estate industry.
• Beware of fly-by-night operations. They may seem like a bargain, but you get what you pay for.
• Does the company provide you with a written estimate and contract? (Beware of movers that just give you a price over the phone.)
• Ask if they are covered by insurance, and what their policy is regarding lost or broken items. Make sure you receive a copy of their insurance certificate.

Finally, always ask what circumstances would result in extra charges being applied. The number one complaint received about movers by the Better Business Bureau is unexpected extra charges.

Questions about moving? Call the Dion-Ivans Group today!

Something has just spilled on your favourite rug or carpet. There's a stain forming. You're worried. Will you be able to remove it? Will the stain set and stay forever?

Luckily, there's a good chance you can completely lift just about any kind of stain – if you follow a few guidelines.

The first rule of stain removal is: act fast. The fresher the stain, the easier it is to lift. So when you notice a stain of any kind, start to work on it right away. Don't wait.

Begin by trying to dry blot the stain. Avoid the temptation of using a wet cloth or detergent, at least at this stage of the game. Blot the stain gently with a clean, dry cloth or absorbent paper towel. Be patient. It may take several minutes before you see any results.

If dry blotting doesn't completely lift the stain, mix up a combination of one glass of water with one teaspoon of lemon juice. Again, take a clean cloth or paper towel, wet it with the water/lemon mixture, and gently blot the area (test on an inconspicuous area first). Wait five minutes, then try dry blotting again.

You may have to repeat the above process a few times.

Using a vacuum cleaner directly over the affected area can also help lift more of the stain.

If, after all your efforts, some of the stain is still there, place a couple of sheets of paper towel over the stain, with a few books on top to maintain pressure. Leave those there for 24 hours. Check every hour or so. If you see stain on the paper towels, you know it's working.

If all else fails, consider calling in a professional cleaner. They know all the tricks and can often perform a miracle for you!

When you’re shopping for a new home, it’s a good idea to create a checklist of what you want and what you need. It keeps you on track to ultimately find the property that best fits your requirements — and those of your family. 

However, there’s a big difference between want and need that is important to understand when house hunting. A ‘need’ refers to a feature that is an absolute must in a new home. A ‘want’, by contrast, is a ‘nice-to-have’. 

Some home buyers make the mistake of choosing a ‘want’ at the expense of a ‘need’.

For example, say you ‘need’ four bedrooms in your new home but ‘want’ a golf course located nearby. It can be tempting to fall in love with a property that has a beautiful golf green just a couple of blocks away, even if it has only three bedrooms. You may find yourself signing the offer while dreaming of Saturday morning tee-offs, only to awake to the realization months later that the lack of an extra bedroom has become a serious inconvenience to you and your family.

Of course it is possible to get most, if not all, of what you need and want in a new home. Especially if you work with a good REALTOR®. But if it comes down to a choice, it’s usually a good idea not to sacrifice something you really need in order to get something you want. 

So when you’re making your house hunting checklist, be clear about what is a need-to-have and what is a nice-to-have.

Don’t forget that some features you want — like a wraparound backyard deck, for example — can potentially be added to your new home later.

Want more tips for getting what you need and want in a new home? Call the Dion-Ivans Group today!!