South Okanagan Real Estate Guide January 2020 by Oliver Chronicle

January 16, 2020

G U I D E

SOUTH OKANAGAN | BOUNDARY COUNTRY

TIMES OSOYOOS

2 SOUTH OKANAGAN • BOUNDARY COUNTRY REAL ESTATE, January 16, 2020

BARB PASTERNAK REALTY SOLUTIONS

Spotted Lake, Osoyoos

8507 Main St, Osoyoos, BC Office: 250-495-7441 Toll free: 1 866 495 7441 Fax: 250-495-6723

MLS®177438

seebarb@gmail.com www.osoyoosrealestatehomes.com BRING OFFERS

OSOYOOS

MONEY MAKER

MLS® 181312

301 9307 62nd Ave SPACIOUS 3 Bed 2 Bath offers a great location to golf, shopping, ski, hiking and biking and lots of sunshine and warm days. 1300 sq ft. large living room dining, plus loads of kitchen counters and cupboards with pull up eating bar for additional seating and entertaining. The unit has gas fireplace and baseboard heat. Enjoy the pool in the summer and elevator for easy access. Rentals allowed. Pets allowed. No age restrictions. Pool strata fees 293.00 per mo. $319,000

MLS® 180346

NEW

OSOYOOS

OSOYOOS 8504 68th Ave. Money Maker! 3 bed 2 bath upper living Family home with 2 bedroom self contained separately metered suite on lower level presently rented for 800 plus utilities year lease. Bachelor studio separate entry 300 mo include utilities. Additional Cottage on property rented for 650 per mo include utilities. Upper unit can be rented aprox 1200 to 1400 per mo. Chair lift, newer appliances, flooring, blinds, dura decking. 10 x12 back deck. $699,000

MLS® 178963

250-485-8081

REDUCED

11710 La Costa Lane Outstanding reno upgrades include hickory cabinets, quartz countertops, stainless steel appliances, tiled backsplashes, new lighting in kitchen! There is a double garage for your toys or man/woman shop. Views from Osoyoos Golf course to Anarchist Mtn. and south beyond Haynes Point to the American Border. The house is upper living with a unique feature of being able to drive up to the backyard. $650,000

MLS® 179357

REALTOR®

Each office independently owned and operated

30-7600 Cottonwood Dr BEAUTIFUL PRIVATE WATERFRONT 2 B/R & den, 2 bath, end unit townhouse. Upstairs is HUGE Master & Guest room both with ensuite bathrooms, laundry, & nook style den/office or separate for bedroom. Easy to rent in the winter and monthly rentals allowed, pets welcome, no age restrictions. Upgraded floors, bathrooms, and appliances, newly painted, and shows very well. $424,000

MLS® 172904

REDUCED

RURAL

3 Hallis Rd. REMARKABLE LAKEVIEWS! Just moments to town east on hwy 3 in a very upscale area of homes that are well over the Million dollar mark. Hallis Road is much kinder to you in terms of snow and a very easy run to Osoyoos below the Anarchist Mountain switch back. Seller is Home Builder and will build to suit or choose the Builder of your choice, no time limitation for building. Buy now! Build when you retire. $368,000

380 Sasquatch Trail Sweeping Mountain views far away from highway noise nestled amongst the pine trees, divided by the conservation buffer area for added privacy. Great price for a nice level building site with well on property. Reasonable taxes. High-end area of Regal Ridge with many million dollar homes. Buy now build whenever no time limit. $173,800

D L O S

MLS® 174316

REDUCED

RURAL

OLIVER

4003 Pebble Beach Dr. STOP RIGHT HERE AND CHECK OUT THIS PROPERTY!! Absolutely gorgeous views from the building site. Perfect for a level entry with walk out basement. Steps to Golf and close to all amenities. No building timeline so buy now, build later. Not many of these awesome lots left!! $199,000

MLS® 180431

D L O S

MLS® 180384

5840 Columbia St. COUNTRY IN THE CITY! Huge 7841 sq ft lot. of all useable private space 20 x 30 detached shop, with additional 10 x 12 fully insulated shed. Parking for RVs, Boats, Trailers in secure fully fenced gated yard. $399,000

NEW

OSOYOOS 8043 Vedette Dr. PRICED BELOW ASSESSED VALUE! FAMILIES WELCOME! LOCATED ON PEANUT LAKE. in Sunny Osoyoos. Great place for young professionals, artists, and persons who love to meditate and do yoga. Provides you with 3 private decks, covered carport, storage shed and 2 car tandem parking. Over 1600 Sq ft of living space on 3 levels. Nice sized laundry and storage in the walkout basement. Two Pets allowed no rentals, no age limit. $259,998

REDUCED

MLS® 177791

OSOYOOS 5-9107 62nd Ave Permanent residence for the family, Affordable housing with pool, year-round hot tub, and saunas make this complex one of the best opportunities for families looking for two bedrooms two bath accommodations. New flooring & kitchen = move in ready. Complex has NEW WINDOWS, STAIRS, & ROOF. $210,000

REDUCED

MLS® 177216

OSOYOOS 117 Maguire Rd. A COUNTRY RETREAT OR A FABULOUS HIDEAWAY FAR FROM THE HUSTLE AND BUSTLE OF BUSY CITY LIFE. The twenty acres embrace panoramic Osoyoos lake views stretching from the American border to the north end of Osoyoos Lake along with the stunning sunsets over the Cascade Mountains. Ideal holding property for future off grid sustainable living. Very few large parcels like this still exist.. $779,000

January 16, 2020, SOUTH OKANAGAN • BOUNDARY COUNTRY REAL ESTATE 3

These charts provide year-to-date information on the pace of MLS® home sales for the province as well as in each of the BCREA member board regions and a comparison of current year sales with the previous year.

4 SOUTH OKANAGAN • BOUNDARY COUNTRY REAL ESTATE, January 16, 2020

ECONOMICS ECONOMICS Mortgage Rate Forecast Mortgage Rate Forecast December 2019

HIGHLIGHTS HIGHLIGHTS •

Wild year for interest rates

Canadian economy: and steady • • Wild year for interestslow rates Why is the Bank of Canada holding • • Canadian economy: slow and steadyback?

•

Why is the Bank of Canada holding back?

Mortga ge Ra te F o r e ca st

M o r tg 2019 ag e R ate F o recast2020 Term Prime

Term Rate

Q2 Q3F Q4F 2019Q3 Q4F Q1F Q2F 2020

3.95 Q2 3.95 Q3 3.95 Q4F 3.95 Q1F 3.95 3.95 Q1 Q2F 3.95 Q3F 3.95 Q4F

Prime 5-Year 3.95 3.95 5.19 3.95 Rate Qualifying 5.34 3.95 5.34 3.95 5.19 3.95 5.19 3.95 5.19 3.95 5.19 5.19 Rate 5-Year Qualifying 5-Year 5.34 5.34 5.19 5.19 5.19 5.19 5.19 5.19 Rate Average Discounted 3.60 3.16 2.86 2.87 2.89 2.95 2.95 2.95 Rate 5-Year Average Source: Bank of Canada; BCREA Economics; Rate Spy Discounted 3.60 3.16 2.86 2.87 2.89 2.95 2.95 2.95 Note: Average five-year discounted rate is the average rate available in the Rate

December 2019

had subsided, aided by three rate cuts by the US Federal Reserve, and an aided otherwise occupied House taking a step had subsided, by three rate White cuts by the US Federal back from sabre-rattling on trade tariffs. As a result, 5-year Reserve, and an otherwise occupied White House taking a step Canadian bond yields bounced back tariffs. to around per cent back from sabre-rattling on trade As a1.5 result, 5-year and Canadian mortgage rates are now experiencing a small Canadian bond yields bounced back to around 1.5 per cent amount of upward pressure. and Canadian mortgage rates are now experiencing a small

amount of upward pressure. The outlook for where mortgage rates go from here is fairly clouded. While bond markets are no longer as shaken as they The outlook for where mortgage rates go from here is fairly were six months ago, growth in the Canadian economy is still clouded. While bond markets are no longer as shaken as they slightly below trend. Canadian monetary policy may also be were six months ago,given growth inthe theBank’s Canadian economy is still tighter than necessary, that US counterparts slightly below trend. Canadian monetary policy have been lowering rates and global economic riskmay is also be tighter than necessary, that the Bank’s USpriced counterparts elevated. However, those given risks seem to be already into haveyields beenand lowering rates and global risk is bond absent a change in the economic stance of Canadian elevated. However, those risks seem to be already priced into bond yields and absent a change in the stance of Canadian

market, offered at a discount from the posted five-year qualifying rate. Source: Bank of Canada; BCREA Economics; Rate Spy

Note: Average five-year discounted rate is the average rate available in the market, offered atRate a discount from the posted five-year qualifying rate. Mortgage Outlook

As the year ends, it’s worth reflecting on how significantly Mortgage Rate Outlook the Canadian interest rate environment has changed in just twelve months. One year ago, the Canadian yield curve was As the year ends, it’s worth reflecting on how significantly its usual upward sloping shape, with markets expecting the Canadian interest rate environment has changed in just gradual rate increases by the Bank of Canada. Based partly twelve months. One yearCanadian ago, the mortgage Canadianrates yieldwere curve was on those expectations, itsclimbing. usual upward sloping shape, with the markets expecting However, within 8 months yield curve in gradual rate increases by the Bank of Canada. Based partly Canada had inverted, bond yields tumbled, and Canadian onmortgage those expectations, Canadian rates were rates were once again mortgage heading lower. climbing. However, within 8 months the yield curve in Canada had inverted, Most bondprominently, yields tumbled, Canadian So, what happened? twoand of the worlds’ mortgage rates wereentered once again heading lower. trade largest economies a mutually destructive war, which has in turn slowed global economic growth and a sharp retracing interest ratetwo expectations. At So,caused what happened? Most of prominently, of the worlds’ its most fervent point, andainformed the yield curve’s largest economies entered mutuallyby destructive trade impressive recession record, the bond market war, which has in turn forecasting slowed global economic growth and panic pushed 5-year bond yields to just 1.13 per cent, and caused a sharp retracing of interest rate expectations. At the average 5-year ratecurve’s well below itspulled most fervent point, and mortgage informed contract by the yield 3 per centrecession and aboutforecasting 100 basis points below wheremarket rates impressive record, the bond ended 2018. 5-year However, by yields the end summer thecent, panicand panic pushed bond toof just 1.13 per

pulled the average 5-year mortgage contract rate well below

January 16, 2020, SOUTH OKANAGAN • BOUNDARY COUNTRY REAL ESTATE 5

BCREA BCREA Mortgage Mortgage Rate Rate Forecast Forecast

December 2019 2019 December

monetary policy, mortgage rates may be in for a dull year with monetary policy, mortgage rates may be in for a dull year with rates remaining low and stable. Perhaps a welcome relief from rates remaining low and stable. Perhaps a welcome relief from the volatility of the past two years. the volatility of the past two years.

Interest Rate Outlook Interest Rate Outlook

Economic Economic Outlook Outlook

the potential potential of of lower lower rates rates igniting ignitingaafurther furtheraccumulation accumulation the of household household debt debt as as aa greater greaterrisk riskto tothe theCanadian Canadian of

The TheCanadian Canadianeconomy economy grew grew just just 1.3 1.3 per per cent cent in in the the fourth fourth quarter of 2019, an expected slowdown after an abnormally quarter of 2019, an expected slowdown after an abnormally

strong strongsecond second quarter quarter saw saw real real GDP GDP growth growth of of 3.7 3.7 per per cent. cent. The impact of elevated trade tensions is apparent in the The impact of elevated trade tensions is apparent in the data, data,

with withCanadian Canadian export export and and investment investment both both negatively negatively effected. effected. Canadian exports have slowed in recent months and nonCanadian exports have slowed in recent months and nonresidential residentialinvestment investment contracted contracted in in the the first first half half of of the the year. year. However, business sentiment outside of the energy sector has However, business sentiment outside of the energy sector has improved improvedslightly slightly and and we we have have yet yet to to see see the the impact impact on on the the trade sector leak into the wider economy through declining trade sector leak into the wider economy through declining

job jobgrowth growthor orconsumer consumer spending. spending. Household Household consumption consumption spending spendingshould should get get aa further further boost boost as as the the housing housing market market

recovers spur recoversand andfirmer firmer price price growth growth and and lower lower interest interest rates rates spur increased increasedborrowing borrowing against against home home equity. equity.

With many central banks around the world lowering their With many central banks around the world lowering their policy rates, a key question is why is the Bank of Canada policy rates, a key question is why is the Bank of Canada holding firm? firm? The The answer answer is is simply simplythat thatthe theBank Bankjudges judges holding

economy than than deteriorating deterioratingglobal globaleconomic economicconditions. conditions. economy Canadian policymakers policymakers have havecommitted committedto tobending bendingthe the Canadian

curve on on the the Canadian Canadian household householddebt-to-income debt-to-incomeratio, ratio, curve through aa combination combination of of higher higherinterest interestrates ratesand andstricter stricter through mortgage policy. policy. mortgage

Balanced against against the the goal goal of ofrestraining restrainingdebt, debt,the theBank Bank Balanced sees the the risk risk of of aa further further disruption disruptionin inglobal globaltrade tradeas as sees

manageable. The The outlook outlook for forCanadian Canadianeconomic economicgrowth growth manageable. is roughly roughly in in line line with with trend trend growth growthfor forthe theeconomy economyand and is

inflation is is expected expected to to be be tethered tetheredto toits its22per percent centtarget. target. inflation As long long as as that that outlook outlook holds, holds,we weexpect expectthe theBank Bankwill will As remain on on the the sidelines sidelines in in 2020. 2020. remain

Overall, Overall,we weexpect expect growth growth in in the the Canadian Canadian economy will finish finish2019 2019at at1.6 1.6 per per cent cent and and will will post post trend growth of about about1.8 1.8per percent cent in in 2020. 2020.

Sendquestions questions and and comments comments about about Mortgage Mortgage Rate Rate Forecast Forecast to: Send to: BrendonOgmundson, Ogmundson, Chief Chief Economist, Economist, bogmundson@bcrea.bc.ca; bogmundson@bcrea.bc.ca; Kellie Brendon Kellie Fong, Fong, Economist, Economist, kfong@bcrea.bc.ca. kfong@bcrea.bc.ca. Additionaleconomics economics information information is is available available on on BCREA’s BCREA’s website Additional website at: at: bcrea.bc.ca. bcrea.bc.ca. To sign up for BCREA news releases by email visit: https://www.bcrea.bc.ca/?subscribe=true. To sign up for BCREA news releases by email visit: https://www.bcrea.bc.ca/?subscribe=true.

® MortgageRate RateForecast Forecast isis published published quarterly quarterly by by the the British British Columbia Columbia Real Real Estate Mortgage Estate Association. Association. Real Real estate estate boards, boards, real real estate estate associations associationsand andREALTORS REALTORS ®may mayreprint reprintthis this

TIMES BY THE

6 SOUTH OKANAGAN • BOUNDARY COUNTRY REAL ESTATE, January 16, 2020

OSOYOOS

HAS GONE DIGITAL! Our Real Estate Guide has gone digital! In addition to our Real Estate Guide by the Osoyoos Times published every month in the Osoyoos Times we offer a full compliment of digital marketing solutions through our partner Digital Agency - KTW Digital.

Real Estate Guide

Need a fully functional real estate website that automatically pulls MLS listings to your site? We’ve got you covered. Already have a site but need to increase traffic? We have a large variety of digital solutions that drive traffic to your website.

TIMES BY THE

OSOYOOS

REAL ESTATE WEBSITES

DIGITAL ADVERTISING

We can make sure you make great first impressions online. Take advantage of our advanced and customizable websites that include automatic MLS Listing technology - your listings will be automatically added to your webste!

Utilize the most advanced online display ads around by advertising to people that search for houses online, people that have visited your website, reading content online relative to real estate and target people in any physical location.

HAS GONE DIGITAL!

Our Real Estate Guide has gone digital! In addition to our Real Estate Guide by the Osoyoos Times published every month in the Osoyoos Times we offer a full compliment of digital marketing solutions through our partner Digital Agency - KTW Digital. ENGINE MARKETING MEDIA EMAIL AUTOMATION SEARCH OPTIMIZATION Need a fully ENGINE functional real estate websiteSEARCH that automatically pulls MLS listings to yourSOCIAL site? We’ve got you covered. We can help your rank higher than your competition on need Google.to increase Already have a site but

We can help create and manage your We can help you increase views and Make use of our advanced email Google Ad Campaigns engagement on social platforms. traffic? We have a large variety of digital solutions that drive traffic to yourautomation website. & CRM solution

Interested in Learning More?

Reach out and schedule a FREE digital Audit.

We will provide feedback on your current strategies and provide potential solutions to help increase leads. REAL ESTATE WEBSITES

DIGITAL ADVERTISING

ALAN CZEPIL Lawyer

Phone: 778-476-1061

ADVERTISE in our Corporate • Commercial • Business Law • Real Estate BUSINESS DIRECTORY Wills & Estate Planning • Estate Administration Contact Terry-Lynn SEARCH ENGINE MARKETING SOCIAL MEDIA 250-495-7225 EMAIL AUTOMATION WHEN YOU NEED OPTIMIZATION EXPERIENCED ADVICE SEARCH ENGINE Terry Lynn Kovacs 8712 Main Street, Osoyoos, BC V0H 1V0 Website: www.czepillaw.ca

Prices & dates subject to change at discretion of KTWDigital

We can help create and manage your We can help your rank higher than your competition on Google. EMAIL: advertising@osoyoostimes.com Google Ad Campaigns

We can help you increase views and engagement on social platforms.

Make use of our advanced email automation & CRM solution

View our latest Real Estate Guide at: www.osoyoostimes.com www.osoyoostimes.com • 250-495-7225 OFFICE: 250-495-7225

January 16, 2020, SOUTH OKANAGAN • BOUNDARY COUNTRY REAL ESTATE 7

8 SOUTH OKANAGAN • BOUNDARY COUNTRY REAL ESTATE, January 16, 2020

250-809-1420

DESERT OASIS REALTY

pamelahass@royallepage.ca

D L SO

MLS® 177097

MLS® 178330

MLS® 175307

Character home with some remodeling done & 65 ft A very profitable business in the heart of Osoyoos. backing onto Peanut Lake. Located in a quiet area Th is restaurant has a long history of quality food with private backyard & close to town. $417,000 and service. Including the famous Lizard Lounge & Wine Bar. $199,000

MLS® 176895

D L SO

1/4 share of a newly remodeled 1 bdrm 2nd floor corner king lakeview suite with wrap around deck & soaker tub at Spirit Ridge Resort & Spa - part of the unbound collection by Hyatt. Located close to pool & restaurant. $59,000

MLS® 179624

MLS® 181521

10 Swan Cres. 2 level home with 4 bedrooms and 3 bathrooms. Fully fenced big back yard for dogs or kids. Gas furnace & central air conditioning, single car garage and additional parking. Quiet location with an easy walk to shopping $449,000

D L SO

MLS® 181186

MLS® 173597

Private 4.5 acres in the famous Regal Ridge area, just Approx. 3 1/2 acres zoned R-7 (high-density Own a 1/4 share of a newly renovated 1 bdrm 20 minutes east of Osoyoos. Great mountain views, dev). This development property offers great lakeview suite at Spirit Ridge Resort & Spa - part of the unbound collection by Hyatt. Unit is fully lots of trees, & wildlife. Drilled well in place. $139,000 lake views. $949,000 furnished & equipped. $34,900

11007 Hwy 97 Panoramic view of mountains, vineyards and Osoyoos Lake from this 1/2 acre property. spacious 2 level home, 3 bdrms, den and 3 full bath. Room to garden with a variety of fruit trees also in the yard. Garage, fenced back yard and only minutes to Osoyoos. $649,000

T E A M H A RV E Y Your

Mary Harvey Unlicensed Assistant

Real Estate Team for Outstanding Service

OSOYOOS & OLIVER ROYAL LEPAGE

DESERT OASIS REALTY

RD I B T W O LER N WALNUT S A

Jim@outstandingrealty.ca www.outstandingrealty.ca www.walnutbeachforsale.com

Jim Harvey

AVAILABLE FOR PURCHASE A COLLECTION of 112 3 STUDIO SUITES from $120,000 Designer Suites on Osoyoos 5 ONE BEDROOM SUITES from $209,000 Lake. These are privately 3 TWO BEDROOM SUITES from $259,000 owned suites with a rental CALL FOR INFORMATION pool option to assist with Jim Harvey 250-408-4696 OR VISIT: the cost of ownership. www.walnutbeachforsale.com

BEACH RESORT

RD I B W RT O E L SN A

250-408-4696

Outdoor Pool Open Year Round. Two Hot Tubs, Sauna, Steam Room. Exercise Room, Marina, Boat Rentals, 800' Private Beach and more !!

RD I B W RT O E L SN A

Monthly Strata Fees include Hydro, Water, Air Conditioning, Cable TV and Internet, Local Telephone.

Studio Suite. $120,000.

Call Jim for information. # 222

For more information, call Jim Harvey - 250-408-4696 or visit: www.walnutbeachforsale.com

One bedroom 1 baths. Call Jim for information. Two bedrooms, 2 baths. Call Jim for information. $209,000. # 110 $279,000. # 213