Okanagan Real Estate News from Bo Skapski June 2017   
  Real Estate News




Bo Skapski
Bo Knows Homes Desrosiers Cook Team

Assurance Realty Ltd.
#100 - 1634 Harvey Avenue
Kelowna, BC
250-808-5508 or 1-888-301-2121
www.BoKnowsHomes.ca


 
Smart homes are making our lives easier, safer and more comfortable.  This month’s article highlights some of the latest trends that help provide homeowners greater convenience and control over their daily lives.

There are also some examples of how a strategically placed water feature can evoke feelings of peace and relaxation in your garden as well as a few tips on how to clean your washing machine.

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!

Bo Skapski

In this issue...
The Okanagan Real Estate Market Report 
Okanagan home sales pick up sharply in May.

Home sales across the Okanagan region of Revelstoke to Peachland took a sharp upward turn in May, with 1132 homes sold, a 38% increase over April but 6% fewer sales than this time last year, reports the Okanagan Mainline Real Estate Board (OMREB).

“Spring is typically a busy market and the May indicators certainly reflect that,” says OMREB President and active Central Okanagan REALTOR®, Tanis Read.  “While we haven’t hit the sales volumes we saw this time last year, we’re not far off the peak of 1263 sales last June.”

Read notes that the May average pricing, at $513,492, crept past last year’s high of $486,636 recorded last May.  Average number of days on market, or the average time it takes to sell a home, was 73 days in May, as compared to 75 days in April and 77 days this time last year.

“We are seeing the effect of an increase in demand without the inventory of homes for sale to support it,” comments Read.  While the lack of inventory may be easing, Read points out that the ratio of home sales to active listings, a measure of balance between supply and demand in the housing market, is currently 28% in the region, and that a ratio above 20% typically indicates a sellers’ market.

“Consumers will likely find rising prices, short turn-arounds between when a property is listed and when it is sold and multiple offer situations – all of which make for conditions that are challenging to navigate,” comments Read, adding “the whole process becomes compressed, making it harder to stay on top of things, manage negotiations and handle contracts and conditions.  Whether you are a buyer or a seller, it pays to have the help of a professional who is well-versed in the process and knows the local market.”

Turning to the buyers of homes in the region, the largest percentage continues to be those who reside in the region at 56%, with Lower Mainland/Vancouver Island buyers at 20%, and Albertans at 8.5%, according to a Buyers Survey of homes sales that closed in April.  Those moving to a similar-type property were 19% of buyers, closely followed by first time buyers at 18.5%.

“The large majority of home buyers are people who already live here, with two-parent families with children and first-time buyers always a healthy percentage.  Contrary to what some may think, those buying for investment purposes and foreign buyers typically make up a small portion of the total buying population, with the latest survey data showing these groups at 14% and 1% respectively.”

Home Is Where the Smart Is 
Smart home technology is continuing to grow at a rapid rate!

Smart home technology has gone from basic security to smart windows that open and close based on the weather and indoor air temperature.  Here’s a look at a few smart home innovations that will revolutionize our lives:

  1. Connectivity is King - The connected home is a huge theme this year that features connected appliances, smoke alarms, lightbulbs and doorbells.

  2. Talk to Me - There’s a huge focus on voice activated products around the home including voice controlled garbage cans, air purifiers and fridges.

  3. Home Help - Robots are being used to offer companionship for seniors and there’s also an innovative, lifesaving cane that sends out an alert in the event of an emergency.

  4. Laundry Lackey - Washing machines that can do multiple loads at once will save us valuable time and there’s even a machine in the works that will fold the laundry!

  5. Breathe Easy - Sensors can monitor your indoor air for Co2, VOCs, allergens and humidity levels and they’ll also be able to expel bad air and introduce clean air to your home.

  6. Robot Cleaners - With intelligent visual navigation, app control and powerful suction that cleans in corners, you’ll never need to push a vacuum again!

Smart home technology is always improving and it’s a major selling point because the higher your home's IQ, the higher the resale value will be!  Who knows what the future will bring but one thing’s for sure; smart home technology can provide you and your family convenience and peace of mind.

Soothe Your Soul with a Water Feature 
Bring new life to your outdoor space by creating a peaceful paradise.

Imagine relaxing after a stressful day at work and unwinding on a backyard lounger while listening to the sound of flowing water.

Your backyard’s the perfect place to take a break from the hectic pace of everyday life, and the addition of a water feature will help transform your garden into an oasis of tranquility, give it a beautiful focal point and may well increase the value of your home.

Water features also create an environmentally friendly haven for wildlife such as frogs, birds and butterflies.  There are a wide variety of solar powered fountains to choose from and by utilizing the sun's rays, you'll lower your electricity bills and won't get tangled up in cords.

Water attractions can be as simple or complex as your budget allows, ranging from a simple tabletop fountain to a full-scale babbling brook.  Safety of course should be a concern if you have small children and if you plan on digging, make sure to contact the utility companies.

It's important to spend a bit of time during the planning stage to ensure your water feature will integrate with your landscape and environment and then once you’ve finished implementing your new water feature, find a comfortable seat, close your eyes and imagine yourself in paradise.

Washing the Washing Machine 
If your washing machine is giving off a musty smell, it’s time for a wash!

Washing the washing machine may seem strange but over time, soap scum and bacteria build up in front loading washing machines which creates a musty smell.

Start by cleaning the rubber door gasket with white vinegar and water.  Next, mix ¼ cup of baking soda with ¼ cup of water and add it to the detergent compartment, then pour 2 cups of vinegar in the drum and run an empty load at the hottest setting.

Clean your washing machine every month to keep it in tip top shape.  If you leave the door open between loads, promptly remove laundry as soon as the load has finished and don’t use too much detergent, you’ll help keep your washing machine fresh and clean.



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