Okanagan Real Estate News from Bo Skapski May 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


 
Buyers will often drive by a home before deciding whether or not it’s worth taking a look at the inside.  This month’s article offers some great ideas on how to enhance your home's curb appeal.

There are also some ideas on how to encourage your kids to step away from their screens as well as the importance of having your air conditioner serviced on a regular basis.

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...
Okanagan Real Estate Market Update 

  1. The Okanangan real estate market holds steady in April.


The residential real estate market across the Okanagan region of Revelstoke to Peachland turned in another solid month in April, with indicators comparable to the previous month, reports the Okanagan Mainline Real Estate Board (OMREB).

“April numbers held consistent with March across several key indicators, including sales volume, new listings, average price and days on market, suggesting we are holding steady,” says OMREB President and active Central Okanagan REALTOR®, Tanis Read.

821 properties sold in April, comparable to March’s 824 but down 23% over this time last year.  New listings were at 1378, which compares to the 1353 new listings in March and the 1490 new listings this time last year.  Average price was $478,715.47, slightly over March’s $475,172.74 and just 4% over April of last year.  At 75, average days on market were slightly down from 79 in March and 79 April of last year.

“These are indicators of a more traditional spring market than what we experienced last year,” commented Read.  “While sales this time last year were 23% higher, we also had more inventory to support the higher volume, at 20% more than we have available now.”

Low inventories, an issue facing many provincial regions, means that buyers may encounter multiple offer situations in some of the more high demand areas. Supply pressure is also likely to impact pricing.  “Demand for properties in the Valley continues to be strong,” says Read.  People want to live in the Valley and more listings are needed to keep pace with this demand.”

“First quarter results of OMREB’s Board-wide monthly Buyers Survey indicate that move-up buyers accounted for 17% of purchasers, while first-time buyers were 21%.  Geographically, buyers were predominately from within the OMREB Board area at 58%, followed by those from the Lower Mainland and Vancouver Island at 17% and Alberta at 10%. Foreign buyers were just 3% of the total buyer population.

“These results are relatively consistent with the makeup of 2016 buyers and, for the most part, buyers who purchased two years ago,” says Read, noting that the main difference is that, in the last two years, buyers from the Lower Mainland/Vancouver Island have surpassed those from Alberta.

“In addition to the skills and knowledge to ensure a successful real estate transaction, local REALTORS® have access to much more detailed market information to help inform consumers’ decision making,” advises Read.

Introducing a Luxury Semi-Lakeshore Townhouse Complex 
We are pleased to announce a new semi-lakeshore complex of Luxury Townhouses, just steps from  Wood Lake in Lake Country.

Introducing Sandon Place. The Bo Knows Homes Desrosiers Cook Team  has been chosen to market a limited collection of 22 modern contemporary open plan townhouses with beach access on Wood Lake. Construction will begin soon and you can reserve your unit, at today's prices, for delivery in the spring of 2018.  For more information and to add your name to the reservation list, please visit our Sandon Place website www.SandonPlace.com .

Cashing In On Curb Appeal 
A few small changes will transform your home’s first impression!

The key to getting top dollar for your home is to create huge demand.  In order to get as many people through the door as possible, your home has to stand out from the competition.
 
There's no need to completely overhaul your home's exterior as it's often the small details that increase the visual appeal of a property.  Here are a few ideas that will enhance your home's curb appeal:

  1. Light It Up - Solar lights will add a welcoming glow and dramatically highlight your home’s exterior.

  2. Perfect Porch - A well-lit porch with a few comfortable chairs and a couple of hanging baskets will set a tranquil tone.

  3. Peeling Paint - You want buyers to see that your home is well cared for so paint or power wash the exterior and clean all the windows.

  4. Accessorize - Replace outdated fixtures such as your mailbox, door handle and porch light and make sure your house numbers are attractive and visible from the street.

  5. Landscaping - Cut the grass and trim the hedges.  Well-kept flower beds show pride of ownership and a few large pots full of bright flowers will accentuate the entranceway.

  6. De-clutter - An uncluttered exterior is as important as an uncluttered interior so put away tools, toys, bikes, pet toys and gardening equipment.

  7. Watch Your Back - When buyers drive by your home, they’ll usually try and get a glimpse of the backyard so make sure it also gets top notch treatment!

Just as people judge a book by its cover, buyers make assumptions about the interior of your home based on how the outside looks.  It's therefore important to make a great first impression starting with the curb.  Your efforts will significantly increase the chances of your home selling quickly and for top dollar!

Unplugging Kids from Technology 
It just takes a little planning to curb the addiction to screens.

Children rely on technology more than ever resulting in less exercise and a lack of creativity.  Here are a few “old school” activities to help them disconnect from their devices:

  1. Personal Puzzles - Cut an old photograph into various pieces and then see how quickly they can put it back together.

  2. Build a Fort - Drape blankets over chairs to create a cool fort.  Once they're comfortable in their new abode, drop by with some “fort warming” snacks.

  3. And... Action! - Putting on a play is a great way to exercise a child's imagination.  They can take turns writing, acting, designing costumes and even filming.

  4. Egg & Spoon Race - Give your children an egg and spoon and see how quickly they can cross the finish line without dropping it.  This old-fashioned game will get them active and outside!

  5. Caching In - Geocaching is a real-world, outdoor treasure hunting game!  Register online and then set off to find the hidden cache with the help of a GPS.

Kids love being tourists in their own cities so take some time to regularly plan fun family outings that don’t involve technology.  If we make the effort to disconnect once in a while, our kids will be more likely to do the same.

Donít Get Left Out in the Heat 
If your A/C is going to fail, it’s certain to happen during a heat wave!

If your air conditioning fails on a hot day you could be stuck inside roasting for days until a technician’s able to come out, and when they do, the repair cost may make your blood boil!
 
A neglected air conditioner isn't efficient or reliable so it's important to have it serviced regularly.  The service check will include cleaning the unit coils, checking the amp draw of the compressor, adjusting the belts and topping up the fluid.
 
Regularly servicing your air conditioner will prevent wear and tear plus it will increase the efficiency of your unit which in turn will reduce your electricity bills.  Don't leave it until it’s too late.  Schedule your check-up today so you can avoid being left out in the heat.



PS Instant Email Notification
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Not meant to solicit clients already under contract.