Blog – Page 5 – Joe Peters Real Estate Services

2016-03-15T09:00:19-07:000000001931201603 | CREA News |

Canadian home sales push higher in February

Ottawa, ON, March 15, 2016 – According to statistics released today by The Canadian Real Estate Association (CREA), national home sales recorded a second consecutive month-over-month increase in February 2016.

Highlights:

National home sales rose by 0.8% from January to February.
Actual (not seasonally adjusted) activity was up 18.7% compared to February 2015.
The number of newly listed homes edged up by 0.5% from January to February.
The Canadian housing market has tightened but remains balanced overall.
The MLS® Home Price Index (HPI) rose 8.5% year-over-year in February.
The national average sale price rose 16.4% on a year-over-year basis in February; excluding British Columbia and Ontario, it declined by 1.4%.

The number of homes trading hands via Canadian MLS® Systems rose by 0.8 percent in February 2016 compared to January. The monthly increase lifted national sales activity to the highest level since June 2007.

A greater number of local housing markets posted a monthly decline in sales activity than posted a monthly increase; however, the latter accounted for a larger share of national transactions. The Greater Toronto Area (GTA), Okanagan Region and Fraser Valley made the largest contribution to the monthly increase in national sales activity, offsetting monthly sales declines in Edmonton, Greater Moncton and Montreal.

“Two of Canada’s hottest housing markets look set to stay that way heading into the spring home buying season,” said CREA President Pauline Aunger. “Meanwhile, other major urban markets elsewhere in Canada are well balanced or have ample supply. All real estate is local, and REALTORS® remain your best source for information about sales and listings where you live or might like to in the future.”

Actual (not seasonally adjusted) sales activity rose 18.7 percent on a year-over-year basis in February 2016, standing 12.7 percent above the 10-year average for the month. Activity increased above year-ago levels in February in about three-quarters of all local markets. B.C.’s Lower Mainland, the GTA and Montreal contributed most to the year-over-year increase in national activity.

“The number of single family home sales above one million dollars is rising in Greater Vancouver and the GTA,” said Gregory Klump, CREA’s Chief Economist. “Tightened mortgage regulations apply to homes selling above five hundred thousand dollars and below a million dollars. The tighter regulations combined with a short supply of single family homes will restrain transactions below one million dollars. If recent trends continue, home sales above one million dollars will account for a greater share of activity and will further fuel year-over-year average price increases in these markets. Meanwhile, price growth will remain more modest in other housing markets that don’t have an ongoing or developing supply shortage like the kind we’re seeing in the Lower Mainland of British Columbia or around the GTA.”

The number of newly listed homes edged up 0.5 percent in February 2016 compared to January. The rise in new listings in the Lower Mainland of British Columbia, York and Mississauga Regions of the GTA and Hamilton-Burlington helped to push the national figure higher. Monthly increases in new listings in these housing markets were offset by monthly declines in Central Toronto, Calgary and Montreal.

The national sales-to-new listings ratio rose to 59.5 percent in February 2016 versus 59.3 percent the previous month. This marks the ratio’s highest reading since November 2009. A sales-to-new listings ratio between 40 and 60 percent is generally consistent with balanced housing market conditions, with readings below and above this range indicating buyers’ and sellers’ markets respectively.

The ratio was within this range in about 45 percent of all local housing markets in January. A little over one third of all local housing markets recorded a ratio above 60 percent; as in recent months, virtually all these housing markets are located in British Columbia and Ontario.

The number of months of inventory is another important measure of the balance between housing supply and demand. It represents the number of months it would take to completely liquidate current inventories at the current rate of sales activity.

There were 5.2 months of inventory on a national basis at the end of February 2016, the lowest level in nearly six years. The national figure is being pulled lower by increasingly tighter housing markets in B.C. and Ontario. The number of months of inventory is currently sitting at or below two months in the Lower Mainland of British Columbia, the GTA, St. Catharines, Brantford, Oakville-Milton and Guelph.

The Aggregate Composite MLS® HPI rose by 8.49 percent on a year-over-year basis in February 2016 – the largest gain since June 2010. Year-over-year price growth accelerated among all property types tracked by the index.

Two-storey single family homes again posted the biggest year-over-year price gain (+10.54 percent), followed by townhouse/row units (+7.41 percent), one-storey single family homes (+7.38 percent), and apartment units (+6.34 percent).

Year-over-year price growth continued to vary widely among housing markets tracked by the index.

Greater Vancouver (+22.18 percent) and the Fraser Valley (19.39 percent) posted the largest gains, followed by Greater Toronto (+11.30 percent). Meanwhile, year-over-year price growth in Victoria accelerated to almost 10 percent in February while Vancouver Island home price growth picked up slightly to 5.7 percent. By contrast, home prices retreated by about three-and-a-half percent on a year-over-year basis in Calgary and by about three percent in Saskatoon. Year-over-year price growth climbed out of negative territory in Regina for the first time in close to three years in February. Additionally, home prices edged higher on a year-over-year basis in Ottawa (+0.82 percent) and rose modestly in Greater Montreal (+1.67 percent). Price growth also strengthened further in Greater Moncton (+6.97 percent).

The MLS® Home Price Index (MLS® HPI) provides a better gauge of price trends than is possible using averages because it is not affected by changes in the mix of sales activity the way that average price is.

The actual (not seasonally adjusted) national average price for homes sold in February 2016 was $503,057, up 16.4 percent on a year-over-year basis.

The national average price continues to be pulled upward by sales activity in Greater Vancouver and Greater Toronto, which are Canada’s most active and expensive housing markets. If these two housing markets are excluded from calculations, the average is a more modest $355,235 and the year-over-year gain is reduced to 8.7 percent.

Even then, the gain reflects a tug of war between strong average price gains in housing markets around the GTA and the Lower Mainland of British Columbia versus flat or declining average prices elsewhere in Canada. If British Columbia and Ontario are excluded from calculations, the average price slips even lower to $291,510, representing a decline of 1.4 percent year-over-year.

– 30 –

PLEASE NOTE: The information contained in this news release combines both major market and national sales information from MLS® Systems from the previous month.

CREA cautions that average price information can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighbourhoods or account for price differential between geographic areas. Statistical information contained in this report includes all housing types.

MLS® Systems are co-operative marketing systems used only by Canada’s real estate Boards to ensure maximum exposure of properties listed for sale.

The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry trade associations, representing more than 109,000 REALTORS® working through some 90 real estate Boards and Associations.

Further information can be found at http://www.crea.ca/statistics.

For more information, please contact:

Pierre Leduc, Media Relations
The Canadian Real Estate Association
Tel.: 613-237-7111 or 613-884-1460
E-mail: [email protected]

2016-02-18T11:16:25-08:000000002529201602 | Uncategorised |

Property Transfer Tax Act 2016 Changes!

Real Estate Board of Greater Vancouver – Property Transfer Tax

Times Colonist– Budget adjusted MSP rates, cuts property transfer tax

The Vancouver Sun– B.C. budget offers help to buyers of new homes

British Columbia -Understanding Your Taxes, Property Transfer Tax

2016-02-16T15:46:05-08:000000000529201602 | CREA News |

Canadian home sales rebound in January

Ottawa, ON, February 16, 2016 – According to statistics released today by The Canadian Real Estate Association (CREA), national home sales rebounded in January 2016 compared to the previous month.

Highlights:

National home sales edged up by 0.5% from December to January
Actual (not seasonally adjusted) activity was up 8% compared to January 2015.
The number of newly listed homes retreated by 4.9% from December to January.
The Canadian housing market has tightened but remains balanced overall.
The MLS® Home Price Index (HPI) rose 7.7% year-over-year in January.
The national average sale price rose 17% on a year-over-year basis in January; however, excluding British Columbia and Ontario, it edged down 0.3%.

The number of homes trading hands via MLS® Systems of Canadian real estate Boards and Associations edged up by 0.5 percent in January 2016 compared to December of last year. The monthly increase lifted national sales activity to the highest level since late 2009.

The number of local housing markets was almost equally split between those where sales were up from the month before, and those where sales were down. Monthly sales increases in the Greater Toronto Area (GTA) and Lower Mainland of British Columbia fuelled the national sales increase and offset monthly sales declines in Calgary, Edmonton and the Okanagan Region.

“Single family home buyers in the GTA and Lower Mainland of British Columbia had been expected to bring forward their purchase decisions before tightened mortgage regulations take effect in February 2016,” said CREA President Pauline Aunger. “If listings in these and nearby markets were not in such short supply, January sales activity would likely have reached even greater heights. Meanwhile, other major urban housing markets have an ample supply of listings, particularly where some home buyers have become increasingly cautious amid an uncertain job market outlook. All real estate is local, and REALTORS® remain your best source for information about sales and listings where you live or might like to in the future.”

“January 2016 picked up where 2015 left off, with single family homes in the GTA and Greater Vancouver in short supply amid strong demand standing in contrast to sidelined home buyers and ample supply in a number of Alberta housing markets,” said Gregory Klump, CREA’s Chief Economist. “Tighter mortgage regulations that take effect in February may shrink the pool of prospective home buyers who qualify for mortgage financing and cause national sales activity to ease in the months ahead.”

Actual (not seasonally adjusted) sales activity rose eight percent on a year-over-year basis in January 2016 and stood 2.6 percent above the 10-year average for the month of January. Activity was up compared to January 2015 among roughly two-thirds of all local markets. B.C.’s Lower Mainland and the GTA again contributed most to the national increase.

The number of newly listed homes fell by 4.9 percent in January compared to December which more than reversed monthly gains that were posted in the final two months of 2015. Canada’s largest urban housing markets contributed to the monthly decline in new listings, including the Lower Mainland of British Columbia, Calgary, Edmonton, the GTA, Hamilton-Burlington, Ottawa and Montreal.

The national sales-to-new listings ratio rose to 59.2 percent in January due to the drop in the new supply of listings, January’s reading was the ratio’s highest since November 2009. A sales-to-new listings ratio between 40 and 60 percent is generally consistent with balanced housing market conditions, with readings below and above this range indicating buyers’ and sellers’ markets respectively.

The ratio was within this range in about 45 percent of all local housing markets in January. A little over one-third of all local housing markets recorded a ratio above 60 percent; as in recent months, virtually all these housing markets are located in British Columbia and Ontario.

The number of months of inventory is another important measure of the balance between housing supply and demand. It represents the number of months it would take to completely liquidate current inventories at the current rate of sales activity.

There were 5.3 months of inventory on a national basis at the end of January 2016, down from 5.4 months at the end of last year and the lowest level in nearly six years. The national figure is being pulled lower by increasingly tighter housing markets in B.C. and Ontario. This is particularly true in the Lower Mainland of British Columbia, the GTA and Hamilton-Burlington, where months of inventory are currently sitting at or below two months.

The Aggregate Composite MLS® HPI rose by 7.73 percent on a year-over-year basis in January – the largest gain in more than five years. Year-over-year price growth accelerated for two-storey single family homes and apartment units.

Two-storey single family homes continue to post the biggest year-over-year price gains (+9.97 percent), followed by one-storey single family homes (+6.86 percent), townhouse/row units (+6.46 percent) and apartment units (+5.16 percent).

Year-over-year price growth continued to range widely among housing markets tracked by the index. Greater Vancouver (+20.56 percent) and the Fraser Valley (+16.94 percent) posted the largest gains, followed by Greater Toronto (+10.69 percent).

Home prices in Victoria posted a year-over-year gain of just over seven percent while Vancouver Island home prices rose by five-and-a-half percent.

By contrast, home prices retreated by about three percent on a year-over-year basis in Calgary, by about two percent in Saskatoon, and by less than one percent in Regina. While home prices have begun to decline in Calgary and Saskatoon only fairly recently, they have been trending lower in Regina since early 2014.

Prices crept higher on a year-over-year basis in Ottawa (+1.10 percent), rose modestly in Greater Montreal (+1.48 percent) and strengthened further in Greater Moncton (+6.57 percent).

The MLS® Home Price Index (MLS® HPI) provides a better gauge of price trends than is possible using averages because it is not affected by changes in the mix of sales activity the way that average price is.

The actual (not seasonally adjusted) national average price for homes sold in January 2016 was $470,297, up 17.0 percent on a year-over-year basis.

The national average price continues to be pulled upward by sales activity in Greater Vancouver and Greater Toronto, which are among Canada’s most active and expensive housing markets. If these two housing markets are excluded from calculations, the average is a more modest $338,392 and the year-over-year gain is reduced to eight percent.

Even then, the gain reflects a tug of war between strong average price gains in housing markets around the GTA and the Lower Mainland of British Columbia versus flat or declining average prices elsewhere in Canada. If British Columbia and Ontario are excluded from calculations, the average price slips even lower to $286,911, representing small a decline of 0.3 percent year-over-year.

– 30 –

PLEASE NOTE: The information contained in this news release combines both major market and national sales information from MLS® Systems from the previous month.

CREA cautions that average price information can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighbourhoods or account for price differential between geographic areas. Statistical information contained in this report includes all housing types.

MLS® Systems are co-operative marketing systems used only by Canada’s real estate Boards to ensure maximum exposure of properties listed for sale.

The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry trade associations, representing more than 109,000 REALTORS® working through some 90 real estate Boards and Associations.

Further information can be found at http://crea.ca/statistics.

For more information, please contact:
Pierre Leduc, Media Relations
The Canadian Real Estate Association
Tel.: 613-237-7111 or 613-884-1460
E-mail: [email protected]

2016-02-12T14:57:06-08:000000000629201602 | Uncategorised |

Inspirational ideas: Remodelling, Home Design, Utilizing the space you have

Often I enjoy looking on Houzz for inspiration for design ideas, future plans/lay outs.

2016-02-11T09:41:44-08:000000004429201602 | Uncategorised |

Real Estate Buyer & Seller Trends of 2016

Home Buyer Characteristics:

– 32% First Time Home Buyers

– Typical buyer 44 years old and median household income $86,100

– 67% Married couples, 15% single female, 9% single male, 7% unmarried couple

– 13% bought multi-generational homes with room for parents or children over 18 moving back

– 30% bought for the desire to own their own home

Home Purchased Characteristics:

– 16% bought new, 84% bought used

– 83% bought single family detached homes

– 14% bought senior housing

– Average buyer only moved 14 miles from previous home

– Buyers paid about 98% of their asking price

– Typical home 1,900 sq. feet, 3 bed, 2 bath built in 1991

– Expect to live in their home for 14 years

Home Search Process:

– Buyers took typically 10 weeks to search and viewed 10 homes before buying

– Buyers not using the internet took 5 weeks and viewed 5 homes before buying

– 59% of buyers were satisfied with their home buying process

– Buyers looked online as the first step to buying, 14% contacted agent as first step

– 87% of buyers found photos and detailed property information most important online

– 78% of buyers found their agent as a useful information source

Home Buying and Agents:

– 87% of buyers purchased through an agent

– 53% wanted their agent to help them find the right home for them

– 41% of buyers found their agent by referral

– 70% only interviewed one agent

– 86% of buyers would recommend their agent to others

Home Purchase Financing:

– 86% of buyers financed their purchase and typically 90% loan to value

– 60% of down payments came from savings, 38% equity from existing home

– 46% of buyers saved their down payment within 6 months

– 51% of buyers found it hard to save because of student loans, 47% credit card debt

– 86% see buying real estate as a good financial investment

Home Sellers:

– Average age was 54 years old, median household income $104,100

– Reasons for selling 16% too small, 14% job relocation, 13% closer to family

– Sellers lived in their home 9 years before selling

– 89% listed their home with an agent

– Sellers on average got 98% of their asking price

– Average days on market 30 days

– 37% of sellers offered buyers some kind of incentive

– Sellers on average made $40,000 more than what they paid for their home

– 61% of sellers were satisfied with the selling process

– 72% interviewed only one agent

– 91% marketed their home on MLS

– 76% of sellers paid the real estate fees

– 32% of sellers recommended their selling agent more than 3 times

2015-01-12T14:23:13-08:000000001331201501 | Uncategorised |

Let it be what it is

Letting a property be the property it is can be a challenging proposition in today’s world. Shouldn’t my home present just as they do on the TV shows? Immaculately staged, shiny & new? Well what we see in homes day-to-day is far different than whats on the television. Often times, people feel discouraged by the disparity from reality TV and REAL life and try to wow with one major room renovation in the home. I think better advice, at least far more realistic advice, is to make sure that what currently exists functions well & shows the best that it can.
Basic maintenance can go a long way to making a property saleable. So often we find homeowners have band-aided over glaring issues, only to spend (waste) time on new interior styles & colours. Why bother repairing the roof and furnace, lets just paint the room, put up some new lighting and call it a day!
Now many of us know what it’s like to get behind the 8 ball, and yes, sometimes home repairs (which turn into deferred maintenance) do run away and mount a massive challenge. But, just as you would save for a college fund for your kids, saving for the health of your home is equally important! It’s usually the largest investment you’ll make in your lifetime, so best keep it up for the long run! You don’t buy a car and then never again change the oil.
Diligently setting aside money on a monthly basis can help ease the burden when maintenance items come along. I would suggest $200 a month for an average 2,000 sq.ft. home. This should keep you up to speed throughout the year & any larger items (dependant on timing) should be covered off by the remaining funds.
I would much rather walk into a 1975 bi-level home and see that the roof is less than 10 years old & well maintained, the furnace is recently serviced and functioning well, the hot water tank is recently replaced, carpets cleaned, windows updated & fireplace functioning; to name a few items. Over walking into a home where the windows need replacement, furnace is on it’s last leg, siding is weathered, hot water tank is nearly leaking, but “we’ve renovated the kitchen and bathroom isn’t it beautiful!” We’ll no, not really. Those rooms may now look like the homes on TV but the rest of your home is in for some serious repairs!
So much about about the real estate game comes down to simple priorities and if you can’t cover the basics, don’t stretch for the frills. If you don’t know the basics, find out what they are and make sure you’re buying a home that fits your budget.
To know where you stand, having a realtor; better yet a home inspector, come and view your home and provide you with a rough idea of what will need to be dealt with next is a great place to start. Realtors will often visit you for free (in hopes of your future business… pretty fair?) and home inspectors will usually charge about $450 but will be able to provide you with a comprehensive list of items in need of attention. This is the best way to go. A realtor can give you generalities but the home inspector is much more to the point.
This being said, I am finding new buyers are much better informed as to the cost of home ownership, the internet has been a boon for those entering the real estate market with reams of personal stories and advice on one of world’s most rewarding purchases.
Although the cold weather is already upon us, here are some tips on winter home maintenance: For about $80-$100 a technician can inspect your furnace or heat pump to make sure it’s in good repair and can achieve it’s efficiency rating. Any ceiling fans in your home can be switched to run in a clockwise direction and push down into the room any heated air trapped near the ceiling. Take a look at your roof shingles and if there are any loose or damaged ones, use some roofing cement to re-adhere them to the surface. If there are cracks showing around windows and doors, simply reapplying silicone caulking can save you a bundle in heat loss throughout the winter months. have your gutters cleaned now to prepare for the spring time thaw. Inspect downspouts and make sure that water runs at least 3-4 feet away from foundations. Drain exterior faucet pipes and turn the shut off valve in your home to make sure they won’t freeze, burst and cause flooding.
Be sure to start stocking your cold-weather essentials like salt or ice-melt and when it comes to home improvements, remember to cover the basics first! You can find an excellent maintenance list from CMHC here in my blog http://joepeters.ca/blog/

2015-01-12T14:22:32-08:000000003231201501 | Uncategorised |

Recreational Property

That cabin on the lake you’ve always wanted? Buy it!

Well let’s face it, we’ve all dreamt of having a cabin or condo where the family can gather and unwind from our busy over-stimulated lives, and now for the first time in a long time you may just have a prudent excuse to make it happen!
Reports are coming out across Canada that recreational property sales are set for a period of sustained growth as Canada pulls its way towards a stable economy. What’s causing this trend? Many Canadians are sitting on healthy equity gains from Canada’s run in property prices, and the stock market’s frothy trajectory over the past few years. In addition to this, the baby boomer generation is looking to buy a secondary, less maintenance heavy property that will allow them to transition to their retirement travel plans. Many will split time between multiple destinations and a condo in the Okanagan is a great way to achieve that! nudge nudge…
Other factors driving this trend are that many areas in BC in the recreational property category have sold off since the peak in 2008. They are now as close to bargains as they will get during this cycle. Along with this motivation, is the overall pent-up demand from years of buyers sitting on their hands.
Pitfalls to watch for with recreational properties are: How is that septic system functioning? and that well the owner says is artisan and provides 60gpm… yes, it may have 25 years ago when it was first drilled but time = change. Have these things thoroughly tested! Sources of water throughout BC have been known to fluctuate in volume and quality and it’s good to know the true history of a property’s source. Are you going to be in trouble next time those drought conditions return? Take this process on slowly and speak to experts, yes you will pay more at the beginning for proper reports (sometimes a few thousand) but in the long run, there’s no joy owning property with no water!
When buying a condo unit the important details to consider are: how is the contingency reserve fund? Have they been paying into it adequately to compensate for future expenditures? What does the maintenance picture look like; is there a pile of deferred maintenance items just waiting to explode on the strata or has it been properly managed over the years. Simply reading two years worth of minutes can give immense insight into the quality of management within a strata. If you see them constantly deferring items as they arise, it may be a sign of a dangerous long term trend.
If the intention is to enjoy the property part time, being part of a rental pool, such as the Summerland Lakefront Resort is a great way to go; carefree and low maintenance.
However, if the family requires more space such as a cabin, there are property management companies offering service for those circumstances too.
Getting to and from the area has become even easier as Westjet now has direct flights from Edmonton and Calgary with Air Canada offering direct flights from Vancouver.
This has allowed the Penticton area to become a great launching pad for all of your vacation fun! Head to the wine trails and enjoy some of the most spectacular wineries in the world. Spend a day boating on the lake, or playing at one of the many beaches.
After 5 years of declining real estate activity we are seeing a significant balancing occurring in the marketplace. The South Okanagan offers up tons of opportunity for those willing to explore.

2014-08-29T12:33:17-07:000000001731201408 | Uncategorised |

Very relevant, and this trend is continuing!

The market is expanding once again!

2014-04-15T08:22:12-07:000000001230201404 | Uncategorised |

Mortgages: the qualifying rate

Qualifying Rate

Mortgages with variable rates or fixed terms under five years typically require that you qualify at a higher rate (called the “qualifying rate.”).

For example, if you apply for a 2.25%, 5-year variable mortgage, the lender might make you qualify at their posted 5-year rate (5.39% for example).

Qualifying rates are used to ensure borrowers can handle their payments if rates go up.

In practice, lenders use the qualifying rate to calculate your debt service ratios. Lenders then check to ensure your debt ratios are low enough to meet their guidelines.

Here are a few things to keep in mind:

Your payments are typically based on the contract rate (i.e., the regular rate you are quoted), not the qualifying rate.
As of April 19, 2010, all insured variable and 1- to 4-year fixed mortgages over 80% loan-to-value must be qualified using the posted 5-year fixed rate, as published every Wednesday by the Bank of Canada.
Some lenders also apply the Bank of Canada qualifying rate to uninsured mortgages, and mortgages with a loan-to-value of 80% or less.
Other lenders allow lower qualifying rates if the loan-to-value is 80% or less (e.g. they use a 3-year discounted fixed rate instead of the posted 5-year fixed rate).

Always count on having to qualify at a higher than posted rate. With rates so low, they are bound to rise eventually and you’ll want this worked into your budget!

2014-04-07T09:39:16-07:000000001630201404 | Uncategorised |

April Update

As forecasted, the Spring market is showing signs of strength in the South Okanagan and some sales that would have been unthinkable over the past few years have sailed through to completion! We do appear to be experiencing a recovery!

In Penticton, sales volume is up 53% from a year ago to $51m and prices have edged up 1% to $304,497.
In Summerland, sales volume is up a whopping 132% to $14.6m year-to-date. With prices up 13% to $325,024.
These two markets have stabilized and it’s a great time to fix and flip, move up, downsize, whatever your heart desires!

Bucking the trend this spring, Naramata sales volume is off 52%, as are average sales prices to $437,833. now that being said, this has to be taken with a grain of salt because last year had a number of very large transactions skew the average sales figures. The market here is still extremely healthy. The luxury market of Naramata will always have volatile statistics… but it remains ever desirable!

Kaleden & Ok falls has seen sales volume spike 55% over last year to $10.25m. With prices down slightly at 3% to $379,505.

Oliver sales volume is up 78% to $7.7m. with prices up 10% to $226,395. Oliver is set for a resurgence as the construction of the Okanagan’s first penitentiary gets underway this spring. I would expect this massive job creator (300 full time & permanent jobs) to assist with a South Okanagan’s rebound strongly over the next 1-3 years.

Osoyoos has seen sales volume rise 113% to $11.2m with prices up 15% to $303,147.

This is a STRONG market, and if you aren’t listed yet, call me today! Also, if you are buying there’s a good selection of homes out there, lets go have a look!