Top 3 Luxury Waterfront Home Sales in Kelowna for 2017

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2017 was an amazing year for luxury real estate in Kelowna. The top three luxury waterfront sales in Kelowna for 2017 all sold for over 5 million dollars. Let’s take a look into what the three registered luxury waterfront sales were for 2017. We have broken it down into Kelowna, West Kelowna, and Lake Country.

5570 Lakeshore Road – Kelowna, BC

luxury waterfront home located in Kelowna

5570 Lakeshore Road – Listed with Caldwell Banker Horizon

First up is 5570 Lakeshore Road in Upper Mission. This luxury home in Kelowna sold for $5,975,000 after 274 days on the market. This little piece of paradise features over 500 feet of private waterfront and is set on 3.18 acres of privacy. Sandy Beach, a licensed dock, and boat moorage are just a few key features of this waterfront luxury home. This luxury property features a main home and a secondary home perfect for visiting family, or guests both complete with 3-car garages. 

16414 Carrs Landing Road – Lake Country, BC

Next up is 16414 Carrs Landing Road located in Lake Country. This luxury home in Kelowna sold for $6,400,000 after 30 days on the market. An interesting fact about this home is that is it one of the only two in BC to be recognized by Global TV as one of the top waterfront properties in Canada. Proximity to the Okanagan Lake, and one of the finest lakeshore property in Kelowna. Featuring over 7500 square feet of living space, 6 bedrooms, and 7 bathrooms, you can not duplicate this internationally recognized private lakeshore home in Kelowna.

luxury waterfront home located in West Kelowna

1475 Pritchard Drive – listed with Caldwell Banker Horizon

1475 Pritchard Drive – West Kelowna, BC 

Last but certainly not least is 1475 Pritchard Drive which sold for $7,000,000 after 152 days on the market. This luxury waterfront home is located in West Kelowna and is less than 20 minutes from Downtown Kelowna. The outdoor living area is complete with a saltwater pool, hot tub, outdoor kitchen, and 284 feet of beachfront on Lake Okanagan. This luxury home features 5 bedrooms, 7 bathrooms, and over 4500 square feet of living space. Vaulted ceilings, open concept, breathtaking views, and a kitchen with high-end appliances are just a few features of this luxury waterfront home.

For more information on these top three luxury waterfront homes sold in Kelowna or any luxury real estate listings, contact Quincy Vrecko. Quincy Vrecko is a luxury real estate agent. He has over 28 years of experience in luxury sales. Whether you are looking for a luxury waterfront home, penthouse, or luxury real estate, Quincy is knowledgeable in all aspects of the luxury real estate market and can assist you with your next luxury home purchase today. When you are purchasing luxury real estate in Kelowna, work with a professional who knows the luxury real estate market. Call Quincy directly, at 1-250-863-8810!

Kelowna Real Estate: How to Budget for Kelowna Home Renovations

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Sometimes the hardest part of renovating your Kelowna home is figuring out how to budget properly. You have endless ideas of how to update the kitchen, add a bit of color to your family room, or rip out the carpet in the hallway but it all boils down to “how much is this going to cost?” If you are looking to do a Kelowna home renovation and are looking for ways how to budget properly, check out our top three tips and tricks.

Do your Research and Establish a Budget

couple planning their Kelowna home renovations

Do your research

One of the easiest ways to budget for your home renovations is by setting a budget in the first place. Here is the hard part… stick to it!! Every small thing you add can and will slowly add up in the end and you will end up way over what you initially budgeted for. Do your research on items you want to update and find out approximately what the renovations are going to cost. Stick to that plan and don’t go way over your budget because you see a set of handles for your doors that would look way nicer but are an extra $20 a handle.

Get Quotes for your Kelowna Home

Once you have an idea of what kind of things you want to update in your home, contact a company to get you a quote. If you have an idea of what you want, it will be way easier to quote you on the project. Don’t go to just one company, try to find three quotes for each project. For example, find three painters, three tile installers, etc. This will give you variety and will help when you are trying to stick to a budget.

painters in Kelowna home

Account for hidden costs

Account for Hidden Costs

When we budget for home renovations down to the penny, we often forget to add in some extra money just in case. Sometimes what can happen when renovating is you discover a hidden issue that has to be fixed. Most of the reason home renovations end up costing you more is due to those little hidden issues that arise during the middle of a renovation. To help with this, budget 10-20% of your budget towards unforeseen costs.

If you are in the process of beginning your home renovations, contact one of our Kelowna real estate agents first! Renovations can add value to your Kelowna home if done properly. We want to ensure that the money you are investing in your Kelowna home will only help you when it becomes time to sell. Speak to one of our knowledgeable real estate agents at Vrecko Real Estate Group today. Call 1-778-760-2860!

Kelowna Real Estate: New Mortgage Rules for 2018

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It was just recently announced that new mortgage rules will be coming into effect starting January 1st, 2018. Many of our Kelowna homebuyers have been asking “How will the new mortgage rules for 2018 affect me?” In October, the Office of the Superintendent of Financial Institutions (OSFI) released its new guidelines called B-20. This was created to establish new guidelines which included the stress test.

If you have been trying to decide if this is the right time to buy or sell, this change in mortgage regulations could be a good signal that the time is right now. – John Antle of John Antle Mortgages

Why the sudden change to the mortgage rules?

coins in a jar in front of a toy sized home

Why the sudden change?

Over the last 10 years, Kelowna real estate has grown substantially. This is a great sign when all other variables grow at the same rate. What we do not want to see is the price of homes increasing at a rapid rate and causing chaos in the Kelowna housing market. Simply what the government is trying to do is keep home prices at an affordable rate while keeping real estate supply and demand in check.

What can we expect to see for the Kelowna real estate market in 2018?

It’s hard to predict what the Kelowna real estate market will do with the new mortgage rules taking place in

graph of real estate trends

What will the Kelowna real estate market do?

January of 2018. The OSFI has announced that all homebuyers interested in taking out a mortgage for Kelowna real estate will have to qualify for a mortgage that is 2% points higher than what they are currently applying for. This only applies to homebuyers who do not have a downpayment of 20% or higher and do not require mortgage insurance. We expect that the housing market will continue to be steady we will just see an increase in a different part of the market. For example, people looking to purchase a $500,000 home may now be looking at a smaller home or condominium.

With the new mortgage rules coming into play in just over 2 weeks, it is important to work with a Kelowna real estate team that understands the market. A Kelowna real estate team that knows the ins and outs of the market is Vrecko Real Estate Group. Our dedicated team of real estate professionals is knowledgeable in the Kelowna real estate market and can assist you with your next Kelowna home purchase. Call 1-778-760-2860 today!

 

Top Waterfront Communities in Kelowna

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Kelowna is a beautiful city, there is no doubt about that! What makes Kelowna so unique and beautiful? The Okanagan Lake! Okanagan Lake is over 130 kilometers long and approximately 4 to 5 kilometers in width. You can also enjoy over 30 stunning local beaches. Kelowna is in no shortage of great waterfront communities right on Okanagan Lake. What makes each waterfront community different? How do you know what waterfront community will fit your lifestyle? Well, let’s take a look at each of Kelowna’s waterfront communities. Let’s find the perfect fit for you. Follow our new series detailing the features of these unique areas of Waterfront in Okanagan. First up Kelowna north to Hobson Road.

Waterfront Communities in Kelowna, Abbott Corridor

Home listed with Jerry Geen – RE/MAX Kelowna

Abbott Corridor

Are you looking for a waterfront home in Kelowna with some historic charm? If so, the Abbott corridor is perfect for you! This waterfront community is located in the Heritage District of Kelowna.  The Abbott Corridor features local sandy beaches and new walking and bike paths making it pedestrian-friendly. In this Kelowna waterfront community, you will find flat lots that are very close to Downtown Kelowna. This waterfront community is in the Heritage Conservation area. This means if you love the older look of a Kelowna home, this waterfront community is where you should plant your roots.

Downtown and Kelowna North

The northern part of the waterfront in Downtown Kelowna is dominated by deep water. If you require deep moorage options, then Kelowna North is the waterfront community for you. Instead of sandy beaches, Kelowna North features steeper shorelines. This means your lot sits higher up. You get the luxury of privacy! On the flip side, on Manhattan Drive, also located in Downtown Kelowna, you will find flat lots and closer to the Downtown Core. Depending on what style of waterfront community you are looking for, Kelowna North has options to suit your lifestyle.

Hobson Road

Waterfront home located on Hobson Road

4264 Hobson Road – Previously listed with Quincy Vrecko and Associates

Now if you are looking for one of the most elite postal codes in Kelowna, then Hobson is your waterfront community. These estate-sized lots are some of the most expensive waterfront homes in Kelowna. Hobson has deeper moorage options as well. If you are searching for a waterfront community where you can walk out of your back door and step into Okanagan Lake, this prestigious waterfront community is the perfect fit for you.

For detailed pricing for each of these waterfront communities and a list of waterfront properties for sale in Kelowna, contact Quincy Vrecko. Quincy Vrecko is a luxury real estate agent with Quincy Vrecko and Associates RE/MAX Kelowna. Quincy Vrecko specializes in selling Waterfront homes and luxury properties in the Okanagan. With over 28 years of luxury sales experience, Quincy is knowledgeable in the luxury real estate market. Quincy can assist you with your next Kelowna waterfront home purchase. For up-to-date information on the Kelowna waterfront luxury real estate for sale, contact Quincy today. Call 1-250-863-8810!

The Process of Selling a Kelowna Home

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This past week we wrote a blog on the process of buying a Kelowna home, so to do a follow-up, the team at Quincy Vrecko and Associates have outlined the process of selling a Kelowna home. If you are in the market to sell a Kelowna home, we’ve got great tips for you!

Couple standing beside a sold sign of a home with keys in hand

Hire a Kelowna Realtor

When you start to have thoughts of putting your Kelowna home on the market, it’s time to think of what Kelowna realtor you will hire. If you are going back and forth about whether you should hire a Kelowna realtor or do it yourself, check out, why should I hire a Kelowna realtor.

Prepare your Kelowna Home for Sale

One of the most important steps in selling a Kelowna home is preparing it. Preparing your Kelowna home for sale will not only attract buyers but could result in a great sale. Some ways you can prepare your Kelowna home for sale are,

  • Boost your curb appeal

  • Get rid of unnecessary clutter

  • Hire a professional staging company

Sign your Paperwork

Similar to a home-buying process, you are just signing the paperwork to list your Kelowna home. Your Kelowna realtor will go through all the necessary paperwork needed to list your Kelowna home. If you have any questions, ask away. This is your time to familiarize yourself with all of the contracts and paperwork!

Schedule an Open House

The first two weeks your home is on the market tend to be the busiest. That is why it is important to have your Kelowna realtor do an open house within the first few weeks of your Kelowna home hitting the market. You will attract the most potential buyers at once and can in turn drive a sale!

Accept an Offer

Congratulations! You have received an offer on your home. First things first, review the offer with your Kelowna real estate agent. You want to make sure you look over every page to ensure that you know exactly what the offer entails. Once you have accepted the offer, the buyer will go about removing subjects and you can just sit and wait for the good news!

SOLD!

The best thing to hear from your Kelowna real estate agent is, “They have removed subjects, congratulations, your home is now sold!”. We are so happy for you and for the next adventure, you are about to partake in. Now, start packing, cleaning, and decluttering so you are ready to go for your next home!

The process of buying and selling a Kelowna home can be quite different but one thing is common, you’ll need a great Kelowna real estate agent to help with your sale. Tracey Vrecko from Quincy Vrecko and Associates is ready to get your home SOLD! Call Tracey to begin the home selling process today, at 1-778-760-2860!

 

Why Should I Hire a Kelowna Realtor

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You’re getting ready to sell your Kelowna home and the thought hits, Kelowna realtor or private sale? Trust me, we get it! The thought of how much money you can save starts going through your head. The vision of selling your home privately is starting to sound more and more appealing. Well, we’re here to tell you the truth about private sales and why we think you should hire a Kelowna realtor!

Professional Marketing

home with for sale in front of it

Professional marketing for your Kelowna home

You may get some action from posting a sign out front and putting ads in the local newspaper. On the flip side, when you list with a Kelowna realtor, you will obtain way more action from their professional marketing. Each listing at Quincy Vrecko and Associates will have an HD video/photos taken of their home and the newest in technology… a 3D Virtual Reality Tour. We don’t just pop a sign in front of your home, we are here to help market your Kelowna home to potential clients and the public.

It’s More Work

Most of you have a full-time job, raising kids, and trying to still have a social life. Selling a home takes time and that is why realtors have a full-time job doing it! Realtors have so much knowledge of the market as they study it daily and are here to guide you through the process of selling your home. Let’s face it, I can’t come into your position and become an expert, leave it up to us to help you get top dollar for your home!

small home with coins in front of it

You don’t save that much money

You don’t save that much money!

I bet you fell off your seat reading that point, but it is true! You may think, but I am not paying for commission if I am listing with a Kelowna realtor. I must be saving a ton of money by just doing it myself. Well, for one, it takes a lot of time to sell a home. It takes time in your day or organize showings and market your home. In most cases, a realtor can get you enough to cover their commission. Sometimes they also put more money in your pocket.

A Kelowna realtor who is willing to work hard to market your home is Tracey Vrecko from the team at Vrecko Real Estate Group Tracey can provide you with expert advice on the Kelowna market. She is here to make sure the process of selling your Kelowna home is as smooth and successful as possible, give her a call today at 1-778-760-2860!

 

Why Should I Get Pre-approved for a Mortgage?

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Congratulations! You are in the process of buying a home. Whether you are looking for your first home, downsizing, or in search of a family home, it is important to get pre-approved for a mortgage before beginning your home search!

The pre-approval process is as simple as follows,

  • Find a mortgage broker who you can trust to get you the best rate, we work with some of the top mortgage brokers in Kelowna who we highly recommend. We believe that working with a mortgage broker is far better than with one bank as the mortgage broker will shop around for the best rate for you rather than being stuck with one rate at a bank.

  • Once you sit down with a mortgage broker, they will go through the different mortgage options with you. (fixed versus variable rates, payment options, etc.)

  • Fill out an application with important personal information which will help the banks determine the amount you are approved for

  • Your mortgage broker will then do a credit check

  • Your mortgage broker will let you know approximately how much you can afford

  • Then they will advise you of any documents that you may need once you have found a home that you love!

With the hot housing market, you do not want to miss out on any opportunities when you find the home you love. That is why getting pre-approved for a mortgage is important as you do not have to go through searching for a home to find out that you are not looking in the correct price range.

Still not convinced why you should get pre-approved for a mortgage? Here are three points to try to convince you…

  • You will save a lot of time house-hunting as you know exactly what you can afford and what you will be approved for at the bank.

  • You know ahead of time what your payments will be for your mortgage as your mortgage broker has already gone over this with you.

  • You save money! Isn’t that what we all want? If you get pre-approved for a home and you know exactly what you can afford you can go about the subject removal process with ease. Schedule your home inspection, sign the documents needed, and find yourself a great Kelowna Lawyer to do your conveyancing. You do not want to find yourself spending money on due diligence to find out that you can not get the proper financing for the home you are interested in.

Now you shouldn’t have to ask yourself, why should I get pre-approved for a mortgage? To begin the process, contact the team at Vrecko Real Estate Group. Aside from giving you expert advice on the Kelowna real estate market, we are here to guide you through the process of buying your home. Call us today – 1-778-760-2860!

 

Home Automation & Smart Homes

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When buying or building luxury Kelowna real estate, a home automation and smart home system is a must. Technology has come a long way over the years. Quincy Vrecko and Associates is here to guide you through the best of what the market has to offer.

Crestron

Creston has been in the home automation business since 1974 and is geared toward the luxury Kelowna real estate market.  With an amazing reputation in home automation and smart home systems, there is a price tag that comes with that.  Crestron is known for its high quality, and like all smart home systems, it can be controlled from both mobile devices and built-in panels.  The capabilities are endless controlling virtually every component of your home.

Their equipment is elegant, high quality, and reliable with touch screen and voice recognition software.  Their customer service is impeccable which is why this brand is one of the market leaders in home automation and smart home systems.

Control 4

This highly complex home automation system is one of the best in the luxury Kelowna real estate market for smart home technology features.  Control 4 stays ahead of the trends with cutting-edge technology with voice recognition and a fully customizable interface.  This complicated system takes weeks to set up which is expensive for the homeowner, but once working, is an easy system to control.  Like other systems, you can control the smart home system from your smartphone, remote, or keypad.  Once programmed this will allow you to perform most tasks just with the touch of a button.

Savant

This smart home system is user-friendly and works like an Apple product.  This system is not only found in luxury Kelowna real estate but many family homes in Kelowna.  Although still requires professional installation, this system enhances energy efficiency and suggests ways to help cut back on home costs.  A unique feature it offers is voice communication directly from your phone to your home’s intercom.

Selecting a home automation and smart home system when buying luxury Kelowna real estate can be an important decision considering resale value.  The team at Quincy Vrecko and Associates can help you choose a system that meets your needs. All while maintaining the value of the luxury home. Call Quincy Vrecko, an experienced luxury real estate agent. Quincy has over 28 years of experience in luxury sales. For expert luxury real estate advice, call Quincy at 1-250-863-8810! 

Minimalist Lifestyle

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For Homeowners, the time to be a Minimalist is often associated with downsizing.

Having lived several years in Japan I was introduced to the simple beauty of minimalism in art and in the ceremony. If you allow yourself to slow down and experience the moment there is a definite beauty in the simplest act. The tea ceremony is a perfect example, calligraphy is another favorite of mine.

CONSUMERISM

Back in the Western world much of the bliss you can find in the small things has been lost to our overindulgence and consumerism. Our disposable economy and lifestyle have discounted the true value of many items. And with the constant barrage of ads promoting the best new gadget, we tend to become dissatisfied with last year’s models.  Everyone wants the latest and greatest even when the recently acquired ones are still working perfectly well. I suppose it fits into our hunter psychology to always be on the lookout for something good. It also does not help that things have become cheaper.

With this greed mentality driving our economy it’s not surprising that there is a genuine backlash on consumerism and our “wants over needs” culture. Trends in housing have seen a large following for smaller homes and an alternative to the huge houses with the huge mortgages we see in many neighborhoods.

PURSUIT OF HAPPINESS

There is also a real groundswell in the “pursuit of happiness”. With so much going on in our lives there seems to be little time to focus on the things that make us happy. This almost always involves experience or connection with those we love and the community that provides us with a sense of worth and value. These relationships and connections are what truly make us happy. Not the new boots I just bought myself.

To make room for this new pursuit it is recommended by the Minimalist to de-clutter, throw out, and recycle all the stuff you don’t use or need in your homes. For many, the project begins in the closet with the purging of clothes. For others, it starts in the kid’s room with old toys. This can be a real challenge for some as they value memories attached to possessions. This rear-view tendency has to be coaxed aside to create new space for adventures that will be equally as memorable.

Minimalist in the Home

For Homeowners, the time to be a Minimalist is often associated with downsizing. Getting rid of all of the stuff that has accumulated over the years can be very cathartic. For designers, it is the paring down of design elements to create an environment that has a terrific style with the bare minimum of fixtures. It is a common thread to have one great thing versus a trunk full. For a living space, this might be one great chair, or for the fashion lover only having two excellent sweaters rather than 50 on shelves in the closet.

The key point to all of this is in keeping things very simple and doing more with less. The sense of freedom when you manage to pull it off is well-documented. You free yourself of psychological burdens you did not know you even had simply by removing things from your life that you no longer use. There is a beneficial drop in your anxiety from having to deal with less.

100 POSSESSIONS

The new Minimalist tries to have only 100 items in their possession. For a family like ours, this would result in 400 things. Given our active lifestyle, this would be extremely difficult to accomplish, but I think we can all agree it would be easy to get rid of hundreds of things we no longer use.

To free up our homes from clutter is to free our minds from worry. This allows for more room emotionally to indulge ourselves with friends and family. It also creates more time as we have less to clean.

So for all of us who would like a little more time to pursue happiness and connect with those important to us in our communities try freeing up your “space” to allow for new experiences. Go through your house and toss all the stuff you no longer use and all the things you no longer need.  You might find that a simpler life is more fulfilling and you become happier. A Minimalist lifestyle might be the right choice.

Declutter your Home with These 7 Steps

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How to Get Started on Decluttering Your Kelowna Home

The idea of living in a clutter-free home is so intriguing but many start with the question “Where in the world do I start”. You think of the countless things you have gathered over the years, and the thought of less clutter, less to clean, less to maintain is starting to sound better and better! While we were showing homes over the weekend in the Lower Mission, we were so impressed by some of the home’s organization and cleanliness we just had to share some tips on how to declutter your home.

1.    Set your timer

This one seems so obvious but some will find that the easiest way to declutter your home is to set the timer for an hour or two and clean until the timer goes off. Devoting a full day to decluttering will set you up for failure. You know you will not completely declutter your home in a full day, set a realistic goal, go in increments that you are comfortable with, and make it fun!

2.    Divide and Conquer

Pick a room and declutter until you have finished that one room. If you start in the kitchen make your way into your bedroom and then into the dining room your house will get overwhelming and you’ll end up with a bigger mess than when you started!!

3.    12x12x12 Challenge!

This challenge is a great way to get your kids involved in decluttering their bedrooms or toy rooms. You assign each of them a room and give them the 12x12x12 challenge. They must throw 12 items away, donate 12 items, and put 12 items back to their proper homes! You’ll find that if you get your kids involved in a fun and entertaining way such as introducing challenges and games into the process, they will be more inclined to help!

4.    Try the Oprah Winfrey Closet Hanger Experiment

Great way to get rid of clothes that you may be holding onto. Put your clothes on the hanger so the hanger faces back to front. For the next 6 months, every time you use a piece of clothing return it to your closet with the hanger facing the correct direction. After the six months is up, you will see which items you no longer wear and can donate them to a local charity.

5.    Have a Game Plan

If you have an A-type personality and you know you would be lost without your to-do list then this step is perfect for you! Distinguish ahead of time which rooms you would like to conquer today and make a list of them. Once you are done with a room, cross it off the list and then head to the next one. Not only are you decluttering your home but you have a great sense of accomplishment by looking at that to-do list at the end of the day as well.

6.    DONATE!

This is the best time of year to start donating to your local charities. A great way to declutter your home is to give one item away each day. This is also a great way to involve your children, have each person take one thing they do not need anymore and put it in a bag. At the end of the week, go as a family to your local charity to donate it! Not only are you giving back to the community but you are spending your weekend as a family which is a plus!

7.    Organize Now, Buy Later

The biggest mistake people will make when trying to declutter their home is they buy things before donating/throwing out the stuff they no longer need. Declutter your room/home first and then go out and buy things to organize the rest. You will not know how many containers, baskets, or new shelving you may need until you find out how much you have left after you have gotten rid of the unnecessary items.

You will find the process of decluttering your home to be an uplifting experience. It is a proven fact that having less stuff around you to worry about gives you a sense of freedom. It also feels good to donate things and pass them forward for someone else to enjoy. If you like this article you might also like our piece on the Minimalist movement in the US. This takes decluttering your home to a whole new level.

Are you getting your home ready to sell? Take advantage of the time and advice given by our expert Kelowna real estate team, which ensures your home is in its best shape to set your sale up for success. Get in touch! 1-778-760-2860.