Okanagan Real Estate News from Bo Skapski June 2019   
  Real Estate News




Bo Skapski

251 Harvey Avenue
Kelowna, BC
250-808-5508 or 1-888-301-2121
www.BoKnowsHomes.com


 
The ability to successfully negotiate can be a real game changer! This month’s article discusses some simple negotiating tips that will help you successfully navigate your way through virtually any situation.

There are also some ideas on how to cool down your home without having to turn on the A/C as well as a few tips on how to grill the perfect steak!

Thanks so much for checking out this month's newsletter. Please get in touch if you have any questions or comments regarding the articles, or real estate in general. It'd be great to hear from you!

Cheers!
Bo Skapski

In this issue...
Okanagan Real Estate Market Report 
Spring real estate market continues to attract buyers.

Residential sales across the region of Revelstoke to Peachland totaled 780 in May, up from April’s 707 sales yet 5% fewer than this time last year reports the Okanagan Mainline Real Estate Board (OMREB).

“The local market continues to attract buyers, even though consumers may not have the purchasing power they did prior to January of 2018,” comments OMREB President Michael Loewen.

Noting the chronic shortage of housing supply that has plagued the region for years, Loewen suggests that buyers are still having to wait for inventory to catch up to the demand for affordable housing particularly first-time home buyers and millennials.

“Buyers are being left on the sidelines or having to revisit their financial options to adjust for more stringent stress test requirements.”

May’s average price of $541,611 crept over last month’s pricing at just 2% higher yet stayed below last year’s at just 2% lower. A closer look shows single-family and townhouse pricing tracking slightly under last year with condominium pricing showing an increase of 7% over this time last year.

“A shift from previous months, we’re seeing average condominium pricing that is higher than this time last year, despite the influx of new, smaller-size and more affordable condominium product to the market,” says Loewen.

“The increase in condo average pricing could simply be the make-up of product sold in May. While too early to tell, it could also be a shift towards condominiums located in areas that are more affordable and where the speculation tax doesn’t apply,” notes Loewen.

With new residential listings constant with last May at just 1% fewer, a 6% increase over last month suggests a potential upward trajectory of housing supply heading into the warm summer months. Similarly, the number of homes available for purchase rose 20% over this time last year. The average time it took to sell a home was 71 days in May, marginally fewer than April’s 78 days, yet more than last May’s 69 days.

Simple Negotiating Strategies 
The ability to successfully negotiate can be a real game changer!

Real estate agents use their negotiation skills to help both parties move towards a common goal. They are, however, an important skill that everyone can take advantage of.

The principles are the same whether you’re negotiating a raise with your boss or a curfew with your teenager. Here are a few techniques to consider:

  1. Silence is Golden - Don’t say anything after making an offer. This gives the other party a chance to think but more importantly, it forces them to break the uncomfortable silence.


  2. Cash or Charge? - If your child hates doing their homework, simply ask “Would you like to do your homework before or after dinner?” Instead of excuses, they'll just pick an option.


  3. Plan B, C and D - It’s important not to paint yourself into a corner so always leave yourself options so that you’ll be able to pivot in another direction if things don’t initially go your way.


  4. Feel, Felt, Found - This technique recognizes the other party’s objection and then offers a solution. “I know how you feel. I felt the same way when I had to go to bed early but the next day, I found I had way more energy!"

Life can sometimes be a challenge but honest communication and the ability to negotiate can turn virtually any circumstance into a win-win situation!

Negotiating is a huge part of an agent’s skill set, so when it comes to buying or selling a home, be sure to have an expert on your side to help you overcome the various challenges that may arise.

Don't Lose Your Cool 
Stay cool and score some huge savings this summer!

Air conditioning is great to have when things heat up but it can be very expensive and it’s also bad for the environment. Here are a few tips to help you keep your cool without having to turn on the A/C:


  1. Cross-wind - Place a fan near your window to help create a cooling cross breeze.

  2. Treehouse - Plant deciduous trees on the east and west sides of your home as the leaves will provide shade.


  3. Sunny Side Down - The sun lets in a lot of heat so close your blinds on any windows that receive direct sunlight.

  4. Biggest Fan - Set your ceiling fans to rotate counterclockwise in the summer as they’ll help pull hot air up towards the ceiling.

  5. Appliance Smarts - Use the BBQ or crock pot instead of turning on the oven and wait until the evening to run the dryer and dishwasher.

No one wants to overheat during the dog days of summer but by making a few small changes, you’ll be able to stay as cool as a cucumber while saving the planet and some cash!

There's a Lot at Steak! 
There’s nothing better than grilling a steak in the great outdoors!

The sizzle and aroma of a BBQ is a sure sign that summer’s just around the corner. No one likes a dry, overcooked steak, so here are a few tips to ensure your steak gets grade A treatment:

  1. Plan Ahead - Bring the steak to room temperature before throwing it on the grill.


  2. Fire it Up - A hot grill results in a juicer steak so always preheat your BBQ.


  3. Don’t Poke - Never cut into a steak to see if it’s done as the juices will escape.


  4. Rest Easy - Let it rest for 5 minutes under tented foil to allow the juices inside to redistribute.

The type of beef obviously makes a huge difference to the taste but many experts say that marbling, which are thin white streaks of fat, is just as important as it makes for a juicier, more tender steak. Happy grilling!



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