Merry Christmas from the Dion-Ivans Real Estate Group!!

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Home Viewing Checklist

General upkeep

Home is clean and uncluttered
Lawns are cut
Walls are clean and free of chipping
Paintjob on walls is in good shape

Signs of water damage

Ceilings and walls are free of stains
Ceilings and walls are free of bulges
No loose grout or caulking around bathroom and kitchen tiles
No crumbling grout or caulking around bathroom and kitchen tiles

Appliances and fixtures

Lights work well
Faucets work well
Toilets work well
Furnace works well
Air conditioning works well
Major appliances included with sale work well

Floors

Floors are smooth, even and solid
No soft, springy sections
No excessive squeaking

Doors and windows

Doors fit snugly and operate smoothly
Windows fit snugly and operate smoothly
No flaked paint
No loose caulking
No drafts

Drainage in yard

No soggy areas near the foundation

Signs of structural damage

No deep cracks in foundation
No loose mortar or bricks

Room for my furnishings

I measured the rooms
My furniture will fit

Storage space

There is storage space on each floor
Enough clothing and linen storage
Enough storage for tools
Enough storage for gardening equipment
Enough storage for sports equipment
Enough storage for miscellaneous items

Hidden surprises

I looked behind all closed doors
I looked behind suspiciously placed wall coverings and area rugs

Professional inspection

I want to buy the house – order a professional inspection

Royal LePage Canada

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Top 10 Things to Avoid when Selling Your Home over the Holidays, According to Royal LePage

Vacation time and slower work schedules create an ideal time for open houses. However, as homes fill up with presents, decorations and visitors, sellers are often faced with the challenge of striking the right balance between cozy and crammed. Keeping your home tidy and sparingly decorated doesn't mean sellers can't celebrate the season in style, but remember that buyers are looking for just the right amount of sparkle.

"Potential buyers expect that there may be some decorations, but when they arrive they are trying to envision how they would spend their day-to-day lives in the home," says Phil Soper, president and chief executive, Royal LePage Real Estate Services. "Keeping the holiday decorations to the right level will be easier if you remember the goal is to bring out the home's structural charm," Soper adds.
We know that potential buyers can be put off by a home that has too many personal items. So while trying to manage the Christmas clutter, sellers should also remove items that remind buyers that the home belongs to someone else. To assist sellers, Royal LePage compiled a top ten list of things to avoid when selling a home during the holiday season.

1. Too many lights: A home will dazzle more if lights are kept to a tasteful minimum. Sellers should opt for white lights instead of multi-coloured flashing bulbs to provide a more neutral glow to a home.
2. Forgetting to clear the snow:  Snow can look beautiful on trees, but driveways and walkways should be cleared as soon as the flakes fall.  Buyers should be able to move freely during an open house so it's important to remember all the outdoor paths and patios around your home.
3. No life or landscape: Give buyers a chance to imagine the potential in your landscape. Frost-resistant plants like flowering kale or miniature trees allow sellers to liven up walkways without taking away the buyer's ability to envision his or her dream outdoor spaces.
4. Not cozy: Everyone appreciates a warm, cozy home - especially in the winter. Set the thermostat at a warm temperature for the whole day, and be mindful that some thermostats have low temperature pre-sets during the day when no one is at home. When the home is attended, fireplaces and candles could also be lit to create a comfortable environment throughout the day.
5. Engage the senses: Simmering a pot of cider with cinnamon during open houses or showings will create a warm and festive feeling.
6. Lingering odours: Be aware of those holiday dishes that may leave a strong odour. If possible, wait until showings are completed before cooking those traditional favorites -- potential buyers will appreciate a neutral environment.
7. Hiding a home's seasonal bests: Photos of the home's back and front yards, gardens and patios in spring and summer will show potential buyers what the house looks like when it is not buried under snow and when the leaves are still on trees.
8. Don't let the tree take over: A smaller Christmas tree, with minimal decorations, will create the appearance of more space. A huge tree, on the other hand, will make the room look smaller, and busy decorations can intensify clutter.
9. Presents should not be present: It is important to cut back on clutter when showing a home; hide the wrapped presents to keep them out of eyesight.
10. Too many decorations: Remember, when selling a home during the holidays, less is always more. Whimsical ornaments can be great accents during the holidays, but be mindful not to go overboard. When it doubt, remove it!

The Dion-Ivans Real Estate Group

Holiday Safety Tips Inside

Christmas Tree

• If you're buying a live Christmas tree, buy a freshly cut one.
• Place tree away from ignition sources like fire places, heaters, candles, radiators and combustible materials.
• Water your tree regularly to keep it fresh.
• Buy a fire resistant tree. Remember that fire resistance does not mean that the tree won't catch fire, it only means that the tree will resist burning and should extinguish quickly.
• Avoid lead-based materials when cutting or decorating your tree - they are hazardous when ingested by children.
• Avoid sharp objects when decorating your tree.
• Avoid tree decorations that may break.

Lighting Safety Tips

• Check the label when buying lights to make sure that it conforms to safety standards.
• Don't put electric lights on a metallic surface/object - it may charge the object and shock those who touch it.
• If putting lights outdoors, make sure that the light is certified for outdoor use.
• Avoid potential shock by plugging all outdoor electric decorations into circuits with ground fault circuit interrupters.

Information provided by:

Craig.Hostland@pillartopost.com
www.pillartopost.com

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Lee Ivans - Bio
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Panoramic lake and canal views from West Kelowna condo.
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New Real Estate Listings Before They Hit MLS®!

We're doing everything we can to make buying your new home as easy as possible. By signing up to receive New Listing Alert's, you will be notified of new listings and price reductions that fit your search criteria  via e-mail. This FREE service allows you to view new listings before they hit MLS®!! Simply fill out your search criteria below and then let us know when you see something that interests you.

 

http://kelownahomefinders.ca/new-listing-alert.html

 

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Home prices in Canada expected to keep rising next year

OTTAWA — Canadian home prices should continue to rise next year, despite sales levels flattening in most major markets, said Re/Max in a report released Tuesday.

The real estate firm said home prices should, on average, rise three per cent to $350,000 by the end of 2011, while existing-home sales will remain flat.

It forecast that home sales this year would be down five per cent to 441,000, with prices growing seven per cent to $340,000.

The Re/Max report said fewer homes on the market have offset the diminished demand this year, helping to keep prices rising.

Some of the factors Re/Max said will continue to push prices up and keep sales steady in the years ahead include land scarcity as housing is intensified in urban areas, immigration, the strength of the market for higher-end homes and the prospect housing presents as a stable investment.

While the lack of growth in sales, along with price gains that are merely in the single digits, mark a change in pace from recent years, Michael Polzler, an executive vice-president for Re-Max, said it's more a "return to the traditional real estate cycle" than a "new normal."

"The past decade was truly unprecedented; never before have we experienced a run-up that was as strong or lasted as long," he said in a statement. "As we have digressed from the typical pattern, people have forgotten what the usual healthy cycle looks like, but all the hallmarks are there."



Twitter.com/derekabma

© The Financial Post

Read more: http://www.vancouversun.com/business/real-estate/Home+prices+Canada+expected+keep+rising+next+year/3938917/story.html#ixzz17XUk52ZA

 

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Kelowna Real Estate Stats - November 2010
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So....What's Next?

As we head toward the end of the year, we always like to reflect on what has happened and also try to figure out what is coming next. Trying to figure out what is going to happen in the market is difficult as even the top economists and other pros have differing opinions. Some of the opinions are based on trends, statistics and the big one . . . gut feeling. We have some buyers that feel the market is going to drop and they will get a better price for their dream home if they wait, but we also have sellers that believe if they wait until spring to sell they will get more for their home . . . but it probably can’t go both ways. One of the biggest questions we get being in the Real Estate industry is, “What do you think the market is going to do?” If the top economists have different opinions, it is fair to say that Real Estate Agents do, too. So based on . . . you guessed it, trends, statistics and gut feeling here are some things we do know:

CREA predicts in 2011, Canada overall will experience a decline of 0.9% in house prices. There is another national report that suggests the average home price will climb by 1.6%. CREA also predicts that sales will decline by 7.3% while the other national report suggests that they will go up by 5.5%. Interest rates are expected to rise in 2011, most seem to agree on this. While at historical lows, any hike in interest rates can have a big effect on pricing and the market. If you are a home buyer it is important to realize that if the market went down only 5% and you were approved at that price, even a 1% interest rate hike could make it hard to qualify for this home. What we can learn from this is, if you like the home you see and can afford it, it is a great time to buy. It is almost impossible to time the market, we usually know it is at its lowest when it has already started going back up. At the end of the day there was a great quote from Mark Twain, "Buy land, they're not making any more of it". Story from Royal LePage Kelowna.

Your Perfect Home in Kelowna Awaits

Has a new job or a new direction necessitated your moving to Kelowna, British Columbia? Or perhaps you visited, fell in love with one of BC’s fastest growing yet laid-back communities and have decided to retire there. Whatever it is drawing you to Kelowna, you’ll best start the process of finding a Kelowna home by approaching a qualified Kelowna Real Estate agency. When it comes to Kelowna properties for sale, no one’s going to have their thumb on the pulse of the market quite like the friendly folks at Royal LePage Kelowna.

First and foremost, their realtors won’t aim to find you a house, condo, townhouse etc. – they’re goal is to find you a home, and the definition of what is an ideal home differs with every individual and every family. Being receptive to the particular needs and wishes of the client is of the utmost importance and a value every Royal LePage Kelowna realtor places front and center in their service. Anyone can evaluate any number of Kelowna homes for sale on their own. Where a quality realtor provides real value is in fine tuning your search by combining his or her market expertise with an understanding of what distinguishes you as a buyer. It starts with a lot of listening, is followed by a lot of hustle and ends with a satisfied homebuyer.

The consistency seen in the large numbers of quality Kelowna properties for sale is a testament to the way the city has grown and the attractiveness it has for people at different stages of their lives. Like any mid-sized city, folks come and go but those who are on their way in are sure to feel good about what Kelowna has to offer. It features a burgeoning economy with a growing high-tech sector and other similarly strong industries. In addition, there is a real quality of life in Kelowna that is buoyed by the ample opportunities available to one and all to enjoy its spectacular natural beauty.  Add to it all the fact that Kelowna homes for sale and their properties offer good value for your dollar and some might say it’s a slam dunk in favour of BC’s interior gem of a city.

Do yourself a favour and weigh the many Kelowna properties for sale with the help of one of the experts at Royal LePage Kelowna. They’ll narrow the field of Kelowna homes for sale that meet your criteria and streamline the process of getting you into the one that’s perfect for you. Visit http://kelownahomefinders.ca and get the ball rolling.

Completely remodelled home with absolutely stunning views of Okanagan Lake! http://ping.fm/wSMKm

Real Estate Investment Trust will have a tax advantage in 2011

Four years ago the federal government announced that publicly traded income trusts, which provide big tax advantages over traditional corporations, would lose that edge by the end of 2010.
The market reaction was swift and terrible, erasing $25 billion from the market value of income trusts and raising a cacophony of anger from investors who had put many of their eggs in the income trust basket.
But one type of income trust was mostly spared by Ottawa: the Real Estate Investment Trust, or REIT. With the approach of the Dec. 31 deadline for other income trusts to lose their tax advantage, REITs are poised to become a popular investment option, especially for aging baby boomers looking for high-yield investments to fund their retirement.
The government's reason for striking down income trusts, despite an earlier promise to leave them alone, was twofold.
Income trusts were felt to be a drain on the federal treasury since they paid no tax. The perception was that they were also bad for the economy because these businesses distributed most of their profits rather than reinvesting them and growing their businesses.
No policy reason was given for the preferential treatment of REITs except that other jurisdictions -most notably the United States -had a similar exclusion.
The REIT tax advantage works like this: REITs, like all income trusts, distribute their profits to unitholders. When a REIT makes a distribution to its unitholders, it is allowed to deduct that distribution when calculating the tax it would owe. So, as long as the REIT distributes at least as much as its taxable income, it pays no tax. Corporations get no deduction whatsoever for paying dividends.
This is a big part of the reason that income trusts were so popular in the first place. Some large corporations pay dividends, but they are normally low-yield such as two or three per cent.
They can't afford to pay much more because they would then not have the cash to pay their taxes. A REIT can pay five or six per cent in distributions because it will have no tax to pay.
What would-be investors need to understand, however, is that after Dec. 31, only REITs that earn income strictly from passive real estate activities such as earning rent or mortgage interest are entitled to the tax advantage; they can't have land development profits. Hotels and nursing homes also don't qualify. For this reason, several Canadian REITs are spinning out their non-qualifying business lines so as to fit within the exemption.
REIT units are eligible investments for tax-deferred plans such as RRSPs and RRIFs and for tax-free plans like TSFAs. Where REIT units are held in such plans, there is no tax payable on the REIT income at either the entity level or the unitholder level until the funds are pulled out of the RRSP or RRIF.
It may well be that REITs will trade at a premium to other investment vehicles in 2011 due to their ability to pay high distributions.
This will allow them to raise more capital without diluting the existing holders, which will in turn allow them to grow their business, their profitability and their ability to make distributions. Other investment vehicles will only be able to look on with envy.
Ross Freeman is a nationally recognized tax consultant and partner at Borden Ladner Gervais LLP.

© Copyright (c) The Vancouver Sun

By Ross D. Freeman, Special to the Sun December 2, 2010

Read more: http://www.vancouversun.com/business/real-estate/Real+Estate+Investment+Trusts+will+have+advantage+2011/3915644/story.html#ixzz16zRkfAhZ

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Housing Affordability Improves In Canada

Derek Abma, Financial Post · Tuesday, Nov. 30, 2010

OTTAWA - Owning a home in Canada became more affordable in recent months, Royal Bank of Canada says.
RBC Economics Research released a report Monday saying the percentage of pre-tax household income it takes to own a home declined in the third quarter of 2010 after a full year of deteriorating home-ownership affordability. Lower home prices and mortgage rates were the reasons for the recent improvement.
"The improvement in affordability during the third quarter has relieved some of the stress that had been mounting in Canada's housing market over the past year," said Robert Hogue, senior economist for RBC. "After appreciating rapidly during the strong rebound in resale activity last year and early this year, national home prices recently came off the burner and retreated modestly as market conditions cooled considerably through the spring and summer."
RBC said it took 40.4% of household income, on average across the country, to own a bungalow between July and September. That was 2.4 percentage points lower than the second quarter.
The cost for owning a standard two-storey home fell 2.5 points to 46.3% of income, and the affordability rate for condominiums was down 1.4 points to 27.8%.
Looking at the percentage of household income needed to own bungalows in major markets across the country, it was 68.8% in Vancouver, 47.2% in Toronto, 41.7% in Montreal, 38.2% in Ottawa, 37.1% in Calgary and 32.7% in Edmonton.

Read more: http://www.financialpost.com/related/topics/Housing+affordability+improves+Canada/3903333/story.html#ixzz16n7O2x1o

 

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Opportunities Abound

Has the prospect of moving into a bigger and better home been in your plans? Well, now could be just the right time to make it happen.
You may be surprised to learn that the cost of moving up is within your means. The equity you have already built up in your current home can often handle the down payment for your next home. And, with today's mortgage rates in the lowest range they have been for almost 30 years, carrying charges need not be much larger than what you've been used to paying. A REALTOR® can help you calculate carrying costs on a "move up" home.
The desire to move to a larger home is often the result of changing needs for you and your family: a new child is on the way and you need a nursery; the children are growing up and need their own rooms and more space to play; you are tired of walking through the rain with groceries from your garage to your house so you want an attached garage; you need more space to build a home office now that you are self-employed; or maybe you simply need a change of scenery.
There are as many reasons as there are different lifestyles. Whatever your reasons, moving up to a new home can intensify the joys of home ownership. There are both practical and emotional reasons for moving up to a better home. On the practical side, the equity in your home will continue to grow and the value of a bigger and better home will be greater over time. On the emotional side, the pride of ownership in a bigger house will probably be even stronger than the feeling you had when you bought your first home years ago.
As with every major decision, the key component in the beginning is thoughtful planning. Your options can be confusing at times and a REALTOR® can help you make the right choices.
Location, of course, will be one of the first choices you will need to make. There are almost as many individual choices on location as there are homes. If you want to move closer to the urban core, you can be sure that there are people who are just as eager to move to the suburbs. If you want a house on a bigger lot to indulge in gardening, there is bound to be someone looking for a smaller lot with less maintenance required. The main thing to remember is that right now the selection of homes is great.
Moving up to meet changes in circumstances and lifestyle can be an exhilarating experience. And, given the current housing market, now is an ideal time to give it serious consideration.

 

Multiple Listing Service, MLS®, REALTOR® and REALTORS® are registered trademarks of the Canadian Real Estate Association. REALTOR® identifies a real estate practitioner who is a member of the Association.

Article provided by OMREB.

 

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Business and consumer confidence

As we come to the close of a very interesting year, it is always good to reflect on the positive things that are happening that are all around us but often not reported.

One of my favourite meetings this time of year is the AGM of the Central Zone of the Okanagan Mainline Real Estate Board.

Aside from the business aspects of such a meeting we are privileged enough to have our local Manager of Economic Development, Robert Fine come and speak to us if his schedule allows.

This year provided a suitable close-out speech to the year, some of which I wanted to highlight to you in this article.

There is always a close relationship between business confidence and consumer confidence and as we have mentioned in a previous article, the current slow pace of sales is driven by a lack of consumer confidence rather than simple market fundamentals. The good news is there is increasing signs of that returning.

Some facts that came from Robert's speech in relation to the Okanagan specifically that you may not be aware of...(I wasn’t):

Tourism visits to the region are up 8% over last year.

Several large scales resorts are cycling into activity including three Westside developments. One lakeshore development including 1200 boat slips, a golf/residential project in Peachland and the New Monaco development in Peachland.

UBCO has recently exceeded a student enrollment of 7,000 students.

Business confidence in the region has increased with 73% of business expecting to reach profit levels compared to 58% last year.

In regards to some BC good news stories:

BC does not rely heavily on the US as a trading partner but has made very serious inroads to the Asia Pacific, exporting coal and lumber very efficiently.

BC offers the lowest personal tax rate in Canada and if you look at aggregated corporate and personal, BC offers the lowest tax rate in the G7 nations.

Population projections for BC are very positive and as we have always forecast, Kelowna and environs will lead the pack. Current forecasts are calling for a 12% growth in the South Okanagan, 22% growth for the Thompson/Nicola. The Provincial average is 36%. Kelowna is forecast to grow by 45% in 2035

There is a reason to look for the silver lining although you don’t have to look far.

Information provided by http://www.castanet.net/ and Mark Jennings-Bates.

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"Dave and I were thrilled with Lee and Rob’s performance. Despite the uncertain market, we managed to list, sell and purchase in less than 60 days.  Their comprehensive online marketing strategy, personal service and 24/7 accessibility ensured a completely stress-free experience. Without a doubt, we confidently recommend the Dion-Ivans team"!

-Dave and Monica Russelle

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5 Reasons to Use a Royal LePage REALTOR®

5 Reasons to Use a Royal LePage REALTOR®

The Dion-Ivans Group - Your best source for Kelowna Real Estate.

The pros of buying a home

If you’re one of the many Canadians who are wondering whether this is the right time to buy a home, you may find that a good place to start is by weighing the ‘pros’ and ‘cons’. Consider the many advantages of owning your own home. There are many practical and financially sound reasons for buying a home in today’s market, whether you’re thinking of a condo, a duplex flat, a townhouse, or even a single family home:

Home ownership is an excellent way to build equity. That’s an important consideration if you’re trying to build some financial stability – especially if you happen to be single and are doing it on just one income.

There’s the security that comes with making an investment for the future. When you own your home, you have a resource to fall back on.

Paying a mortgage off is usually better than “throwing money away” on rent. You could be paying high rents for years, adding up to many thousands of dollars, yet never end up with anything that’s yours.

Your rental expenses can potentially increase significantly over time. Even a three or four percent annual increase can really add up, especially when you consider that it’s compounded year after year. However, if you buy a home and lock in a long term mortgage at today’s affordable rates, you’ll know exactly how much your payment will be for years to come.

Owning your own home gives you the option of earning extra income, by renting out a specific portion of the property or by taking in a roommate.

Homeownership affords an asset to borrow against if you ever need to. Even if your mortgage isn’t paid off, you can still borrow against the equity you’ve built up in your home – and often at far better interest rates than you’d normally get for almost any other type of personal loan.

Property values tend to appreciate over time. Historically, real estate has proven to be one of the best returns on investment for Canadian consumers. And you’re enjoying your investment by living in it, versus just a piece of paper sitting in a safety deposit box!

There are other exciting reasons to consider home ownership. You’ll gain independence and pride of ownership. The feeling of satisfaction and accomplishment it gives is one of life’s great pleasures. Want to know more about the advantages of home ownership? Your local REALTOR® has a wealth of knowledge to share. Why not call today?

Information provided by http://www.castanet.net/ visit http://www.castanet.net/edition/news-story--906-.htm for more information.

The Dion-Ivans Real Estate Group - Your best source for Kelowna Real Estate.

Find the Perfect Kelowna Home with the Right Realtor

Few Canadian cities can boast the successful growth and rapid development of an identity like Kelowna can. In a little more than two decades, it has gone from being a not-so noteworthy interior town to one that has everything most people look for in a place to live. It’s all the more common now that folks from the Lower Mainland of BC and others from all across Canada are seeing Kelowna as a viable alternative to the stresses of bigger-city life. Opportunities abound, the cost of living is much less daunting and there’s a genuine warmth to the people. It’s no surprise that more and more folks are looking at Kelowna real estate listings with an eye to moving to this vibrant city.

Your Kelowna home search should begin with the proven professionals at Royal LePage Kelowna. A Royal LePage Kelowna realtor understands the importance you are attaching to the potential purchase of a Kelowna home and responds by pairing their expert knowledge of the area’s housing market with your specific needs. You can expect him or her to be at your every beck and call and be proactive in establishing what Kelowna listings meet your criteria before arranging viewings that work with your schedule. While it’s not Vancouver, the number of Kelowna real estate listings is considerable and you want a realtor who is exactly in tune with what will work for you and what will not.

Having a realtor who’s attuned to your needs in this way is an essential component of your Kelowna home search. This is due to the fact that properties that perfectly match your criteria are very likely meeting those of other potential homebuyers as well. This is what makes for a “HOT” listing and being able to identify them quickly and give them precedence over others is a characteristic of an expert realtor. Such expertise comes standard with a Royal LePage Kelowna realtor and they’ll waste no time in preparing and presenting your offer on any Kelowna home, all the while maintaining the highest standards of professionalism throughout the process.

You will be hard pressed to find anyone who has relocated to Kelowna and isn’t thrilled with the life they have discovered there. There’s just enough hustle and bustle and an abundance of natural beauty with readily-accessible means of enjoying it. The fact that Kelowna real estate listings don’t come with the same hefty price tag you’d find in Vancouver really appeals to most folks as well, and yet you are still only 4 or so hours away from the Lower Mainland.

Start your Kelowna home search the right way at http://kelownahomefinders.ca

Improving Economy, low mortgage rates to boost housing sales in BC

VANCOUVER-- A new report suggests that low mortgage rates combined with a growing population and an improving economy bode well for Metro Vancouver home sales for the rest of 2010 and 2011.
“For the next year, we’re looking at favourable mortgage rates, a steady flow of migrants to the Lower Mainland, and a growing job market,” Canada Mortgage and Housing Corp. senior market analyst Robyn Adamache said in an interview about the federal agency’s housing market report that concluded sales will remain stable until mid-2011 before trending higher. “We’re looking at about 33,000 sales for Greater Vancouver [in 2011]. We’re looking at 31,000 this year. The 10-year average is about 34,000.
“Balanced market conditions that have been established in recent months will continue over the next nine to 12 months.”
The B.C. Real Estate Association also predicted in its fall housing forecast last week that B.C. housing sales, while declining 12 per cent this year to 74,950 units, will increase six per cent to 79,700 in 2011.
Adamache said that fewer new listings coming onto the market due to modest price growth, and a steady pace of sales will continue to gradually draw down the inventory of resale homes for sale.
The CMHC report predicted that the average home price in Metro Vancouver will increase 12 per cent in 2010 to $665,000, with most of the increase already having taken place. Prices are forecast to increase by three per cent next year to $685,000.
As well, new home construction in Vancouver will increase in 2011, approaching the 10-year average level as demand for new housing strengthens. “Homebuilding will increase modestly next year as developers seek to add to the stock of housing to accommodate approximately 16,000-18,000 new households each year,” said Adamache.
CMHC noted that housing starts across the province will also hold steady this year before gradually rising in 2011.
“Builders are expected to begin construction on more new homes next year in response to steady housing demand,” CMHC’s B.C. regional economist Carol Frketich said about the forecast of just under 26,000 total starts for 201, slightly below the 10-year average.
Nationally, CMHC said home construction is expected to continue easing in the final quarter of this year before stabilizing in 2011.
The BCREA reported Monday that residential sales in B.C. declined 36 per cent to 5,507 units in October compared to the same month last year. The average price climbed six per cent to $521,859 in October compared to the same month last year.
“B.C. home sales have posted moderate gains since the summer months,” added BCREA chief economist Cameron Muir in a statement.
Year-to-date, B.C. residential sales dollar volume declined two per cent to $32.5 billion, compared to the same period last year. Residential unit sales declined 10 per cent to 64,735 year-to-date.
The report stated that the average residential price in B.C. is forecast to climb seven per cent to $498,500 this year and decline by one per cent to $495,600 in 2011.
Meanwhile, the City of Richmond is reporting that after a sluggish 2009, a record has been set in 2010 for total building permits issued in a year.
The city reported that at the end of October it has processed 1,511 building permits with a construction value of over $769 million, greatly exceeding the $163 million value in 2009 and beating Richmond’s previous record of $658 million in 2006.
“While the sheer number of projects is impressive, the city has taken a sustainable approach to development that was well thought out in our City Centre Area Plan,” Mayor Malcolm Brodie said in a statement.
bmorton@vancouversun.com

© Copyright (c) The Vancouver Sun

Read more: http://www.vancouversun.com/business/real-estate/Improving+economy+mortgage+rates+boost+housing+sales+CMHC+says/3831738/story.html#ixzz1630ejQjP

 

The Dion-Ivans Group - Your best source for Kelowna Real Estate.

Lee Ivans - Royal LePage Kelowna Realtor

There is no doubt that being born and raised in Kelowna has built a strong framework for my expertise on the local real estate market. My family, for generations back, has called the region home and for good reason- it is a beautiful, plentiful playground with a neighborhood that suits every lifestyle and need.

Being aware of this, I strive to take full advantage of what the community has to offer. I have snowboarded for years at Big White, while watching the hill expand and grow to the world -class ski resort it is today. During the summer I play in beautiful Okanagan Lake in between fishing excursions throughout the surrounding area. Volleyball and other team sports round out of my active pursuits, all of which are enjoyed with my wife, Erin.  

For many clients, finding the right home in the perfect neighborhood can be a challenging combination. My in-depth knowledge of the established community along with a strong handle on new development creates a vital combination in helping you find exactly what you envision.  Whether a first time buyer, condo seeker, or luxury vacation home hunter I am motivated and keen to secure your satisfaction. This city has a lot to offer and I know where to find it!   

Energy and creativity are two of my personality traits that contribute to the guarantee that I will work hard for you. Whether selling or buying, my proactive, honest, and communicative approach will certainly finalize each deal. To support my outgoing and innovative ways, I have a Bachelor’s Degree in Marketing (O.U.C.) along with sales and managerial work experience for both Molson and Maxxium Canada. My real estate education was through U.B.C.’s Sauder School of Business. 

Most importantly I want you to feel secure that I am an expert on the local market, that I will listen to and understand your needs and that I will undoubtedly work hard for you. If you are interested in selling or purchasing a home, or simply interested in learning more about the local market and what I have to offer, please get in touch!

The Dion-Ivans Real Estate Group - Your best source for Kelowna Real Estate.

Rob Dion - Royal LePage Kelowna Realtor

The draw of the Okanagan Valley saw me relocate to Kelowna over a decade ago to pursue my post-secondary education. Since then, I have proudly called the city home and have no desire to move elsewhere! The golf, fishing, and outdoor activities that the area has to offer keep me active while my wife Meghan, daughter Dalyce, and two dogs (Duke and Turbo) keep me busy! I have travelled and lived abroad but have yet to come across a community as diverse, vibrant, and welcoming as Kelowna. We love it here. My experience moving and settling into the community is a strong asset for those interested in doing the same. I understand the concerns and anxieties that come with relocation and can certainly ease the transition with my knowledge of the city and what is has to offer.

 

I am industrious and dedicated to meeting your needs- whether it be buying or selling. My education and background lends strength to marketing your home or your purchasing goals. I completed a Bachelor of Business Administration with a focus in Marketing (OUC) as well as a year studying International Business at Hodgeschool Zeeland International University in Holland. My work experience in sales and management with both Bacardi and Maxxium Canada helped maximize my communication and teamwork skills; both of which are valuable traits that contribute to the relashionship I develope with my clients. I sincerely enjoy the real estate industry and look forward to seeing the smile on a client's face when a contract is signed.  

 

If you are interested in the local market, would like to purchase a home, or would simply be interested in approaches to marketing your home for a sale, please contact me. I am certain I will be able to turn your hopes into a reality!

The Dion-Ivans Real Estate Group - Your best source for Kelowna Real Estate.

Determine your home’s asking price

Lots of people out there want to buy your home. The right asking price will attract attention and get you a maximum return. With the help of a REALTOR^® you can set a fair market value on your home – the most that interested buyers may be willing to pay for your property.
You don’t want to set your price too low or too high

• Setting too low a price means you could miss out on thousands of dollars that some buyer would have paid.
• Setting too high a price can scare away willing buyers and leave your home on the market for too long. When you lower the price, people may assume you are under pressure to sell, and lower their offers even further.

REALTORS^® know the general factors affecting your marketMaybe larger families are moving into your neighbourhood. That makes homes with three plus bedrooms and large yards more appealing. Perhaps a large employer is opening a plant nearby, which will increase demand for housing in general. How are interest rates affecting people’s willingness to take out big mortgages? You can ask your REALTOR^® these questions and, more importantly, how they affect the price of your home.
REALTORS^® can calculate your home’s value within your marketUsing the extensive background information available to REALTORS^® through a real estate Board’s MLS^® System, they can compare your home to a collection of similar homes that have recently been sold in your area. No two homes are the same, but REALTORS^® are very good at adjusting their calculations according to the differences.
Yes, first impressions matterIt’s nearly impossible to replace the initial flurry of interest and activity a new listing will generate. REALTORS^® in your area will want to see your home right away and tell their buyers all about it. Be sure you’re priced and poised to capitalize on this first wave of excitement.

Information provided by www.howrealtorshelp.ca

The Dion-Ivans Real Estate Group - Your best source for Kelowna Real Estate.

Housing market trending upward in 2011

Kelowna area housing starts and sales of existing homes are forecast to move higher in 2011, according to Canada Mortgage and Housing Corporation’s (CMHC) Fall 2010 Kelowna Housing Market Outlook Report.

“Demand for both new and existing housing is expected to pick up as the provincial and regional economies record stronger employment growth,” says CMHC Market Analyst Paul Fabri.

Favourable interest rates will also support growth in demand. Buyers of existing homes will benefit from an ample supply of listings and strong price competition among sellers."

Fabri says gains in both new home construction and existing home sales will be modest.

Housing starts, led by the detached home sector, will increase next year.

“This year’s uptick in detached home construction will carry over into 2011.”

Lower lot prices and construction costs have allowed builders to compete more effectively with the existing home market and attract more buyers during the past year.

Kelowna’s multifamily sector will record more condominium and attached home construction and fewer rental apartment starts in 2011.

Existing home prices are forecast to edge up in 2011. Ample supply in combination with modest growth in demand will limit upward pressure on prices.

Kelowna’s existing home market will move to a balanced from a buyer’s market position in 2011 as demand improves and the supply of listings slowly comes down.

 

Information provided by www.castanet.net.

 

The Dion-Ivans Real Estate Group - Your best source for Kelowna Real Estate.

Fourth Quarter 2010 edition of CMHC's Housing Market Outlook - BC Region Highlights

The Fourth Quarter 2010 edition of CMHC's Housing Market Outlook - BC Region Highlights is now available and can be accessed by clicking on the link below.

http://www.cmhc-schl.gc.ca/odpub/esub/65442/65442_2010_Q04.pdf

For more CMHC housing market information or to find a Housing Market Outlook conference near you, visit

http://www.cmhc.ca/housingmarketinformation.

The Dion-Ivans Real Estate Group - Your best source for Kelowna Real Estate.

Canadian Real Estate Association Introduces Hand Held House-Hunting with New Mobile Application

November 12, 2010 – The Canadian Real Estate Association (CREA) unveiled its latest home buying and selling innovation, a new mobile application of REALTOR.ca for Windows® Phone 7.  REALTOR.ca is operated by CREA, and is the most visited real estate website in Canada, with about 350 000 property listings available at any one time.
“Allowing people to check out houses whenever they want, wherever they want, will make the home and property hunt that much easier,” said CREA President Georges Pahud.  “Today’s consumers want portable, on-the-go information and REALTORS® across Canada are happy to be able to meet this need with the new REALTOR.ca app.”
The REALTOR.ca app provides house hunters with the functionality of REALTOR.ca while taking advantage of Windows Phone 7 device features such as GPS.  The app allows users to search for houses and properties across Canada and to connect with REALTORS® to view, buy or sell a property.  Photos, newly listed properties and open house information are all available.
Using the handheld’s GPS technology, and the REALTOR.ca search function, users can search for properties near their location and get driving directions too.  Interactive BING mapping is embedded to allow consumers to focus on specific neighbourhoods.
“Buying a home is often the biggest financial transaction of one’s lifetime.  Easily accessible, detailed information about homes and neighbourhoods, as well as fingertip access to the expertise of REALTORS®, helps people make well-informed decisions” said Pahud.
The REALTOR.ca app was developed through a partnership with Microsoft Canada Inc. and Navantis.
The REALTOR.ca app will be available for other handheld devices in the coming weeks.  Plans are currently underway for iPhone and BlackBerry versions.
The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry trade Associations, representing more than 100,000 REALTORS® working through more than 100 real estate Boards and Associations.

Information provided by CREA.

The Dion-Ivans Group - Your best source for Kelowna Real Estate.

Canada home resales climb for third straight month

 Canada home resales climb for third straight month

 

 Home resales in October rise 4.6 pct to 35,714

 Sales are 13.3% above where they were in July — this year’s low point.

TORONTO, Nov 15 (Reuters) - Sales of existing homes in Canada rose in October from September, climbing for a third straight month, the Canadian Real Estate Association said on Monday.

The industry group said 35,714 homes changed hands in October, up 4.6 percent from September, as sales rose in three quarters of markets tracked by the association. However, sales are down 21.6 percent from a year ago.
CREA said sales activity in October stood halfway between the recessionary low reached in December 2008, and the record level activity posted in December 2009, suggesting further evidence that the market is returning to normal.
CREA said the national average price in October rose 0.7 percent from a year earlier to C$343,747 ($340,344).
The number of new listings rose 1.3 percent in October from September.
($1$1.01 Canadian)

Read more: http://www.vancouversun.com/business/real-estate/Canada+home+resales+climb+third+straight+month/3829799/story.html#ixzz15NL1coUb

 

The Dion-Ivans Real Estate Group - Your best source for Kelowna Real Estate.

Testimonial - The Dion-Ivans Real Estate Group

"I worked with Lee recently on the purchase of my new home.  Very quickly I could see that both Lee and Rob valued honesty and integrity over just "making the sale".  My purchase came at a time when I was very busy and stressed at work and Lee went above and beyond to take care and organize what needed to be done.....it made all the difference.  I will recommend them as often as I can because everyone should have a great and easy experience buying their new home".

-Angie Thiessen

The Dion-Ivans Real Estate Group- Your best source for Kelowna Real Estate.

Royal Lepage Kelowna Newsletter

November 2010

If you are thinking of

BUYING

or SELLING

please give me a call.

CRE A Revises Annual Housing Forecast

OTTAWA – November 5, 2010 –

Service® (MLS®)Systems of Canadian real estate Boards and Associations for 2010 and 2011. Sales activity in the third quarter of 2010 began on a weak

footing, but gained traction as the quarter progressed. Improving momentum for home sales activity suggests the resale housing market is stabilizing, but

weaker than expected third quarter activity has reduced CREA’s annual forecast.

National sales activity is now expected to reach 442,200 units in 2010, representing an annual decline of 4.9 per cent. While monthly levels for sales activity

are stabilizing, year-over-year comparisons are likely to remain stretched well into 2011 due to the record-level activity reported in late 2009 and early

2010. Lackluster economic and job growth, muted consumer confidence, and the resumption of interest rate increases are expected in 2011. Against this

economic backdrop, national home sales activity is forecast to decline by nine per cent to 402,500 units.“Interest rates are expected to resume their return to

more normal levels next year, but will still be at levels that are friendly to the housing market,” said Georges Pahud, CREA’s President. “For the tenth year

in a row, more than 400,000 homes are expected to change hands over the MLS® Systems of Canadian real estate Boards and Associations next year.”

Modest average price gains are forecast in 2011 in all provinces except British Columbia, Alberta, and Ontario. Lower sales activity in British Columbia

and Ontario are expected to result in a 1.3 per cent decline in the national average price to $326,000.

The Dion-Ivans Real Estate Group- Your best source for Kelowna Real Estate.The Canadian Real Estate Association (CREA) has lowered its forecast for home sales activity via the Multiple Listing

Pillar To Post: Preparing Your Home for the Cold Season

It's fall and that means it's time to get your home ready for the upcoming cold weather. Check out the tips below for ideas on how to keep your home more comfortable and efficient this winter.
Seal Drafts - Seal holes, cracks, and openings in your home to stop the flow of heat through the walls and ceiling.
Keep Your Pipes Pumping - Pay less for hot water by insulating pipes. This will also decrease the chance of pipes freezing.
Clean Those Gutters - Once the leaves fall, remove them and other debris from your home's gutters so that rain, melting snow, and ice can drain properly.
Bundle Up - If you have a tank style water heater, wrap it in an insulation blanket to prevent needless energy use.
Turn It Down - Many conventional water heaters are set too high. Try lowering the temperature setting a notch. A lower setting may be hot enough. When you leave the house, turn down your thermostat so you aren't paying for heat you don't need - or consider installing a simple programmable thermostat that will adjust the temperature automatically.
Furnace Care - A simple way to keep your home warm while cutting down on energy waste is by replacing your furnace filters or cleaning them as needed. Follow the manufacturer's instructions.
Insulate - One of the most effective ways to keep a home warm is to install adequate insulation. This is especially true in attics and crawlspaces. Insulation helps keep the home cool in summer and warm in winter.
Use Energy Star® - Energy Star qualified products help you save energy and reduce greenhouse gas emissions. The Energy Star label can be found on more than 40 different kinds of products for the home including heating and cooling equipment, electronics, lighting, and appliances.

For more tips on how get your home ready for winter, please contact your local Pillar To Post office.

The Dion-Ivans Group - Your best source for Kelowna Real Estate.

New Real Estate Listings Before They Hit MLS®!

We're doing everything we can to make buying your new home as easy as possible. By signing up to receive New Listing Alert's, you will be notified of new listings and price reductions that fit your search criteria  via e-mail. This FREE service allows you to view new listings before they hit MLS®!! Simply fill out your search criteria below and then let us know when you see something that interests you.

 

http://kelownahomefinders.ca/new-listing-alert.html

How Realtors Help

Step 1: Deciding when to sell

In real estate, timing influences your home’s selling price. Working with a REALTOR^® can help make timing work for you.
A buyer’s versus a seller’s market?
When lots of people are looking for homes but not many are for sale, it’s a ‘seller’s market’, because the seller has something everybody wants. When there are lots of homes for sale and not many people buying them, it’s called a ‘buyer’s market’ because buyers have more power of choice.
How quickly do you need to sell your home?
In a seller’s market, top price and a fast sale can go hand-in-hand. In a buyer’s market, more sellers are competing for your potential buyer. If you have to sell right now, consider lowering your asking price a bit to speed up the sale. A REALTOR^® can help you figure out the right price-to-speed ratio.
Seasonality. Do home sales get frostbite?
It’s true. Winter sales tend to be slower, and spring sales are more brisk. Regardless, there are always people looking to buy, and seasonality is only one of many factors to consider.
What if you’re also buying a home?
If you sell your existing home for a ‘low’ price, you’re probably also buying at a low price. If you are upgrading to a larger home, this actually works to your advantage. If you’re downsizing from a bigger home to a smaller home or a condo, you need to pay a bit more attention to the market.
To buy first or sell first? The eternal question
Many people are able to time their sale and purchase so they happen on the same “closing date”. As a buyer, you can make your offer “conditional” on the sale of your existing home, to make sure you’re not left paying for two homes. As a seller, you can try to extend the “closing period” to give yourself more time to find your next home. A REALTOR^® can provide advice and counsel during these kind of negotiations.
What if you find your new dream home before you’ve started to sell your old one?
Talk to your existing mortgage lender about “Bridge Financing”. This is when your lender (the bank) agrees to lend you the down payment for your new dream home, while you still cover the mortgage on your existing property.

For more information visit http://www.howrealtorshelp.ca/.

The Dion-Ivans Real Estate Group - Your best source for Kelowna Real Estate.

CBC News - Consumer Life - New home prices rise slightly

CBC News - Consumer Life - New home prices rise slightly

The Dion-Ivans Real Estate Group - Your best source for Kelowna Real Estate.

Canadian Association of Accredited Mortgage Professionals

November 2010
Canadians comfortable with their mortgage debt levels; One third have made additional payments in the last 12 months
Canadian Association of Accredited Mortgage Professionals releases Annual State of the Residential Mortgage Market in Canada report  

Toronto, ON (November 8, 2010) – Canadian homeowners are comfortable with their mortgage debt, have significant home equity and could withstand an increase in their mortgage interest rate, according to the sixth Annual State of the Residential Mortgage Market report from the Canadian Association of Accredited Mortgage Professionals (CAAMP), released today.

http://www.caamp.org/press-releases.php?pid=31&article=632

Information provided by Paul Cescon of Creative Mortgage Corp.

The Dion-Ivans Real Estate Group - Your best source for Kelowna Real Estate.

How much home can you afford? Use our Mortgage Calculator to find out.

How much home can you afford? Use our Mortgage Calculator to find out.

The Dion-Ivans Real Estate Group - Your best source for Kelowna Real Estate.

OKANAGAN MAINLINE REAL ESTATE BOARD STATS

Market Continues to Ripen for Buyers Kelowna, BC –
Active listings fell 3.81% compared to last year at this time, and new listings taken in October were down 14.98% over October 2009 (755 compared to 888) and they also declined 14% from last month (875). While overall sales declined 37.56% compared to last October (to 271 from 434), year to date units sold have only declined 3.45%. Total residential units sold decreased 39.66% from October 2009 (to 245 from 406) but improved marginally over last month. Year to date total sales volume for all property types is only 0.57% off 2009 year to date sales volume.
"While sales seem to have bottomed out in July, demand continues to be sporadic mirroring inconsistent consumer confidence." says Brenda Moshansky, OMREB President and REALTOR® in the Central Zone. "News out of the US that the economy is slower to recover than expected has caused economic forecasters in Canada to downgrade their predictions from the spring. While this messaging understandably may make consumers cautious, the reality is that current conditions are ripe for buyers who can leverage purchasing power due to the great selection, more attractive pricing and record low interest rates; all of which may not be lasting conditions."
Moshansky adds, "For Sellers in this market, pricing is important and working with a real estate professional to understand current market conditions is essential. Sellers need to be patient as buyers have more choices and are taking longer to make decisions."
The Central Zone of OMREB covers an area from Peachland to Lake Country and east along Highway 33 to Westbridge (including the Christian Valley). The Okanagan Mainline Real Estate Board (OMREB) is comprised of 1,149 member REALTORS® and 86 real estate offices in the Southern Interior of BC.
For the most comprehensive source of all real estate listings, home buying and selling information, visit our national websites at http://www.realtor.ca/ and www.icx.ca. To find out about the advantages of using a REALTOR

The Dion-Ivans Real Estate Group - Your best source for Kelowna Real Estate.The Central Zone of the Okanagan Mainline Real Estate Board (OMREB) reported October 2010 sales activity of all MLS® property types increased from last month but continues to be well down from sales reported this time last year. A sharp decline in new listings continues to bring down overall inventory levels; however, there is still plenty of selection for Buyers. ®, visit http://www.howrealtorshelp.ca/

Kelowna Real Estate Stats - October 2010

Click on the link below to view the Central Okanagan Real Estate Stats for October 2010.

stats

The Dion-Ivans Real Estate Group - Your best source for Kelowna Real Estate.

Canadian Residential Inspection Services - Tip of the Month

Don’t Fall Behind, Be Ready for Winter!

Once the leaves are off the trees it is a good idea to clean the eavestrough, downspouts, gutters and valleys as melting snow in winter months can result in ice dams and unnecessary weight in the eavestrough which cannot drain properly.

When you are outside cleaning your eavestroughs it is also a good time to take a quick look at any trees on your property. Look to see if any limbs are brushing up against your house or are in contact / close proximity with your power or telephone lines. Winter storms are coming and damage can occur as result of high winds or snow-laden boughs. Appropriate trimming by a licensed arborist now may save you considerable inconvenience this winter. Also look for trees that are leaning and may come down on a power line and contact the utility company for removal.

Information provided by Canadian Residential Inspection Services.

The Dion-Ivans Real Estate Group, your best source for Kelowna Real Estate.

No down payment is no problem.... its tax time! Leverage the tax season to your advantage

The HBP is a program that allows individuals who have not owned a home in the last 5 years to withdraw up to $25,000 from their RRSPs to buy or build a qualifying home.  The home can be for the applicant or for a related person with a disability.  Why is this plan a benefit?  Because the applicant does not have to claim this withdrawal as income!!  The applicant has 15 years to pay back the withdrawal in minimum 1/15 increments or greater per year until the balance is zero with no income tax implications. 

But what if your client doesn’t have RRSPs to withdraw?  Your applicant can apply for an RRSP loan for $25,000 today.  And as long as the funds remain in the RRSP for 90 days or longer, they can be withdrawn under the HBP plan.  $25,000 as 5% of a purchase price is $500,000.  So we are creating enough of a down payment for up to $500,000 purchase price.  Add a spouse for another $25,000 and there is enough down payment for a $1,000,000 property.  This should cover 99% of your clients.  Essentially….your client is borrowing their down payment! 

There are more benefits too!  The $25,000 contribution still counts as an RRSP contribution for the year which means assuming there is enough room in their contribution limit, and they have paid the appropriate amount of income taxes for the year, this will equate to a hefty tax return that could either be applied to the RRSP loan, pay for any legal fees related to the house purchase, or consolidate high payment and high interest debt.

There are some conditions that apply.  Some RRSPs, such as locked-in or group RRSPs, do not allow you to withdraw funds from them so the client must let their financial planner know what plans they have with the RRSP so they are invested into the correct RRSP product.  The RRSP loan may change the debt service ratio of the mortgage application so when discussing this option with your client, ensure they are speaking with a qualified mortgage professional prior to applying for an RRSP loan as we can work out the entire scenario ahead of time to gauge what effect this will have on debt service ratios.  I have access to accountants and financial planners that can put this program in place so if you have a client that fits this scenario, please call me for a full evaluation of their situation and suitability for this program.

Information provided by Marc Gobeil of TD Bank.

The Dion-Ivans Real Estate Group - Your best source for Kelowna Real Estate.