The first question you think of before placing your Kelowna home on the market is, what is my Kelowna real estate worth? Knowing what your Kelowna real estate is worth is great to have when you are getting ready to place your home up for sale. As the market is always changing, it is good to know if this is the right time to sell. How can you find out what your Kelowna home is worth? Here’s how!

Do some research to find a Kelowna realtor

First things first, the best person to call is the real estate experts. You may do your own research but the person who can give you the most accurate number is a Kelowna realtor. A Kelowna realtor will be able to do a competitive market analysis on your Kelowna real estate to provide you with a value on your Kelowna home at this point in time.

Market Analysis on your Kelowna Real Estate

The best way to provide you with a value on your Kelowna real estate is having your Kelowna realtor conduct a competitive market analysis. They will assess the current market, find out what homes in the area has sold for and give you a value for your home. Keep in mind, what your home is worth today could be different than what it is worth in 1 year from now. The market changes and so does the value of your home!

If you haven’t had a market analysis done in the last 6 months ago, contact Quincy Vrecko and Associates! Our team of real estate professionals can provide you with a FREE market evaluation on your home. We do not want your Kelowna home placed on the market and sitting waiting for an offer. Let’s get your Kelowna real estate on the market and SOLD! Start by contacting the team at Quincy Vrecko and Associates. One of our Kelowna realtors would be happy to assist you with your next real estate transaction. Call 1-778-760-2860 today!

Nearly everyone we know would jump at the opportunity for a lakefront cabin on a sleepy little pond, somewhere far removed from the hustle and bustle of the daily grind.  Cabins in the wilderness are attainable for many, especially as families grow or retirement draws closer.   For the more affluent and ambitious, luxury waterfront properties directly in or adjacent to population centres are the epitome of status and lifestyle.  But luxury lakefront can mean different things to different people; the aspects and qualities of lakefront properties differ greatly.  So which area is right for you?  Let’s have a look at some of the prime locations for luxury waterfront homes on Lake Okanagan and find out.

Westside Road

This is a long blade of property which stretches from downtown Kelowna about half way to Vernon, on the west shore of Lake Okanagan.  These properties are dominated by steep, rock shorelines and beautiful deep water docks.  These are directly east facing homes, so sun exposure is more limited than their analogues across the water.  If you want lots of afternoon and evening sun, these aren’t for you.  If you love morning sun with your newspaper and coffee, then you’re going to love it here.  They are a bit further from shops and other amenities, which help contribute to their significantly lower price of entry than those in, for instance, Kelowna’s Mission.

Hospital District, Lower Mission

This is arguably the prime location for Kelowna real estate on the whole of Lake Okanagan.  Characterized by flat lots and long shallow sandy beaches, as well as long and narrow lot dimensions created to maximize the number of lots while maintaining privacy.  The directly west-facing orientation is perfect for sun worshipers.  Truly remarkable property, short distances to the best shopping in Kelowna and lifestyle in the whole city.  Prices in this area are perhaps the highest of any area, and the shallowness of beaches, while great for swimming and personal enjoyment, can limit the size of boats which can be docked here.  Some docks have only two or three feet of depth.

Kelowna North, Upper Mission  

These areas possess a similar west facing orientation as those above, but instead of shallow sandy beaches, these are dominated by deep water.  There are fewer sandy beaches, replaced by steeper, rockier shorelines.  While they don’t lend themselves to romps with the grandkids, they are generally larger lots, as well as being able to dock essentially any boat you wish.  It is not uncommon to see 40+ foot cabin cruisers tied up along the coasts in these areas.  Generally further removed from metro Kelowna, these are generally quieter and more private properties as well.  Prices are noticeably lower for comparable lots vs. luxury waterfront homes for sale in Lower Mission.

Campbell Road, Lakeview Heights  

There is many luxury waterfront homes on the beautiful banks of West Kelowna too, only minutes from the downtown core.  In fact, if you stand on one side with some binoculars, you can wave to a friend opposite (but it might be more fun to just take a quick boat ride across though).  The nice thing about the shores of West Kelowna is that they vary widely between sandy and rocky beaches, to steep cliff-like shores.  Shallow water or deep, whichever you prefer can be had.  And you will save yourself some money here too, as prices tend to be lower than in Kelowna proper.

So there you have it, a brief introduction to the prime locations for luxury waterfront homes in Kelowna.  Whatever flavour you desire in your luxury waterfront home, Kelowna’s shores of Lake Okanagan have it in spades.  Stay tuned in the future for some information about other areas of Lake Okanagan and the surrounding area.  

If you are looking for luxury waterfront homes in Kelowna, contact our team at Quincy Vrecko and Associates. Our team of Kelowna real estate agents have years of experience selling luxury waterfront homes. We can’t wait to assist you with your next Kelowna home purchase. Call 1-250-863-8810 today!

One of the most asked questions as a first time homebuyer is “where do I begin?” Do I just start looking online at houses? Do I call a Kelowna realtor? How do I know which Kelowna realtor to call? These are just some of the questions that first time homebuyers may ask before they begin the process of purchasing their first home. If you are about to be a first time homebuyer, stick around and continue reading to find out where do you begin the process of buying your first Kelowna Home.

Get Pre-Approved

The very first step you as a first time homebuyer need to take in order to begin purchasing your first Kelowna is getting pre-approved! By doing this step, you know exactly what you can afford to pay for your first home. Before beginning the search, it is important to know what range you need to stay within. We have written a blog on why it is important to get pre-approved for a mortgage, check it out!

Take it slow and don’t rush it!

Finding your first Kelowna home will be a process, a long process. Do not stress out. Come to terms with the fact that this is your first home that doesn’t mean it will be your last. In fact, it probably won’t be your last. Take this process in, it is a huge step in your life purchasing your first Kelowna home. Do not rush through it. Just make sure you ask questions, ask as many questions as you want. Enjoy this amazing milestone and congratulations!

Find a Kelowna Real Estate Agent

Before beginning to search for your first Kelowna home, it is important to hire a Kelowna realtor. This is a completely new process for you, and you will have no idea what to expect. Hire a Kelowna realtor who has experience working with first time homebuyers. This will help you as a first time homebuyer, as they may have tools specifically for you in order to properly explain how this process will work. Check out their websites for a first time homebuyer tab. This will give you some information as to what you will be working with!

This is an exciting time for you as a first time homebuyer. Just make sure you take the necessary steps before beginning your search for your first Kelowna home. Get pre-approved, find a great Kelowna realtor and take it slow do not rush it!

If you are looking for a Kelowna realtor who actively works with first time homebuyers, contact the team at Quincy Vrecko and Associates. Buying your first home can be stressful and overwhelming and we want to ensure that this process is as smooth and stress free as possible. Call 1-778-760-2860!

As the summer heats up in Okanagan, the hot Kelowna real estate market cooled off slightly. Posting an 8% decrease in sales from the month of July and a 14% fewer sale from the same month last year.  This decrease in sales is largely due to continued low inventory levels of homes for sale in Kelowna.  

New listings were at par with August of last year. As inventory remains low, the Kelowna real estate market continues to favor the seller. Days on market rose slightly, which is typical for this time of year. Average price for a single family home in Kelowna remains steady at $678,608.  

When comparing different categories of the Kelowna real estate market to the same time last year, there were some interesting numbers produced.

Single family homes

August of last year, there were 349 sales of single family homes in Kelowna where this year sales totaled 261.  The lack of single family homes for sale in Kelowna continue to factor into the decrease in sales.  Yet another major factor is the rise Kelowna real estate market prices.  It is becoming harder and harder for first time home buyers to buy a single family home. They are turning to condo and townhouse living.  

Condominium and townhouses

As condos and townhouses become the more affordable option in a red hot Kelowna real estate market, sales are at par to last year despite the lower inventory levels.  Last year in August there were 281 units sold and this year is nearly the same at 257.  This trend will likely continue as new developments of condos and townhouse complete and prices for single family homes remain out of reach for some buyers.

Lots

According to CMHC, by this time last year new home construction was up 65% over the previous year and lot sales were very brisk to say the least.  For the month of August alone there there were 57 lot sold compared to only 30 this year.  Rising building costs and lack lots for sale in Kelowna contributes to this decrease.  

Waterfront homes

The sale of waterfront homes in Kelowna has seen a significant decrease this year with only 14 sales registering for the month of August. Yet last year there was of 25.  Sales of waterfront homes are down due to the flooding of Lake Okanagan where over 200 docks lakeshore were damaged from the floodwaters.  Once docks are repaired and replaced,  the Kelowna real estate market could see an increase in listings and sales of waterfront homes.  

Luxury property

Luxury real estate in Kelowna in August is down 16 sales to 35 on a last year of 51.  Homes sold over 1 million make up this category. While inventory is the common theme for this year’s Kelowna real estate market statistics, there were environmental factor such as floods and fires.  Luxury homes with big lakeviews where difficult to apprecite because of the fires in BC.  It was surprising to see a decrease in this category because of the rise in the real estate values pushing more homes over that 1 million dollar mark.  

As summer winds down the we move into the 4th quarter, it is typical to see a slowdown from the busy Spring and Summer market.  Demand is still strong and with lower inventory, we remain in a seller’s market going into the fall.  This could change with new home starts in 2016. It is likely to see an increase in re-sale listings as homeowners get ready to take posession of their new build.  

To stay on top of the changing Kelowna real esate market, use the expertise of a professional real estate agent.  Quincy Vrecko and Assoicates is a top Kelowna real estate team with RE/MAX Kelwona focused on real estate trends. We can keep you up to date on listings even before they hit the market.

Purchasing a Kelowna home is expensive, it’s probably going to be one of the most expensive purchases you make in your lifetime. That being said, it’s normal to want to save money where possible. Good news! There are certain things you can save money on when purchasing a Kelowna home.

Find a Kelowna realtor

Did I just confuse you reading that? I bet I did! You are probably thinking to yourself, it costs me money to hire a real estate agent? Won’t I lose money on my next Kelowna home purchase rather than save money? You are right to some extent. Yes, it costs money to work with a Kelowna realtor. On the flip side, a great Kelowna realtor with years of negotiating skills can save you thousands of dollars on your next Kelowna home purchase. A Kelowna real estate agent is working with you on your home purchase, they want to ensure you get the best price for the home you are in search of. It may cost money to work with a Kelowna realtor but in the end you could be saving thousands on your home purchase.

Search for the best mortgage rate for your Kelowna home

Next comes your mortgage. Mortgage rates are a key factor to purchasing your Kelowna home. Even the smallest reduction in an interest rate can save you thousands in the grand scheme of things. The team at Quincy Vrecko and Associates highly recommend going through a mortgage broker for your next mortgage. When you go through a bank you are locked into that amount. When you go through a mortgage broker, they work with plenty of different banks and offer you the best rate possible for your next home purchase.

Keep an eye out for future projects

Lastly, when looking to purchase a Kelowna home take a look at the tiniest things in the home. You may fall in the love with the colour of the walls, the layout of the home or the neighbourhood but in the end, if it needs a lot of repairs you are going to be dipping into your pocket probably more than you had hoped. Check for everything before putting in an offer. Did you notice any problems with the flooring, walls or ceiling? For a second set of eyes, after putting in your offer ensure you get a home inspection done. It is important to get a home inspection as there may underlying issues that can not be seen on the surface.

In the end, it is normal to want to save money on your Kelowna home purchase. Purchasing a home can be stressful. The team at Quincy Vrecko and Associates want to help. If you are in search for your next family home, townhome, condominium or you are looking to downsize contact the team at Quincy Vrecko and Associates. We are a team of highly professional and experienced agents ready to assist you in this next big purchase.