2015 Greater Kelowna Market Update

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Today I'm going to provide you with a quick real estate market update for the Kelowna area. Afterwards, We'll discuss whether open houses really help to sell homes.

First, here are some statistics from our local market:

• We've had 1,108 sales in the first quarter of 2015, compared to only 898 sales at this time last year
• Our average sale price rose by $4,000 this year to reach $416,000
• Home sales of properties over $1 million have been sluggish, but we do expect that market to pick up as we enter the busy season

 
Now, about open houses....do they work?

We get this question a lot, and the truth is that open houses don't always work for every property. There are different ways to sell each home, and every Realtor will have a different strategy to sell. I wouldn't recommend pushing for one if your real estate agent doesn't recommend it. If a home is highly sought-after, it may be a good idea, but sometimes these events can fall flat.

One last thing is that I'm currently at a beautiful listing we have at 2988 Valentino in Quail Ridge. It's a Rancher that's just under 3,000 sq. ft. There is a stunning view from the back deck, and it's also right near two golf courses and the university.

As always, if you have any questions please don't hesitate to contact me. I'm always here to help!

Want to Invest in One of the Best Ski Resorts in the World?

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Today we're here to speak to you about investment properties, and here at Big White Ski Resort, there is no better place to be investing in. Big White is only 35 minutes from Kelowna, and skiers from all over the world rave about the fresh dry powder that coats the runs. To display just how great this resort is, here are a few quick stats:

• There is a 750 cm annual snow base
• There are 16 lifts and 118 runs, making it Canada's largest ski-in, ski-out resort
• Named #1 resort for powder last year by Ski Canada magazine

We could go on and on about this place, but check out the website in the link above for more information. If you invest in a rental property at Big White, you could be placed in a rental pool, and if you market your home effectively online, then you have a really good chance to make money off of these properties. 

There are some really excellent vacation property managers in Kelowna as well. Currently the most expensive property is listed at just under $1 million Canadian dollars, and if you take a look at the exchange rates, that could be a very good investment. There are many properties at Big White that are only $100K-$200K as well.

If you don't like the snow, then Okanagan Lake is also a great place to invest!

As ski season winds down, now is a perfect time to look into buying a property at Big White. Please contact us with any questions you have about buying investment properties in Kelowna!