March 12, 2020
G U I D E
SOUTH OKANAGAN | BOUNDARY COUNTRY
TIMES OSOYOOS
2 SOUTH OKANAGAN • BOUNDARY COUNTRY REAL ESTATE, March 12, 2020
BARB PASTERNAK REALTY SOLUTIONS
REALTOR®
Each office independently owned and operated
Spotted Lake, Osoyoos
8507 Main St, Osoyoos, BC Office: 250-495-7441 Toll free: 1 866 495 7441 Fax: 250-495-6723
250-485-8081
seebarb@gmail.com www.osoyoosrealestatehomes.com
NEW PRICE
MLS® 177791
OSOYOOS
5-9107 62nd Ave Less than RENT! First time home Buyers have a look at owning your own home and paying your own mortgage. This 2 bedroom 2 bath condo with wood fire place as well as electric heat and cooling. Th e kitchen has new cabinets and new fl ooring almost thru out. Huge decks with largest rear storage unit in complex. Children welcome on lower level. Clean neutral colours quick possession! $210,000 MLS® 181312
OSOYOOS
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. $299,900 MLS® 180431
NEW
MLS® 180346
NEW PRICE
OSOYOOS
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. $259,989
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
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. $449,000
MLS®177438
SOLD
OSOYOOS 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® 178963
MLS® 172904
RURAL
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
March 12, 2020, SOUTH OKANAGAN • BOUNDARY COUNTRY REAL ESTATE 3
4 SOUTH OKANAGAN • BOUNDARY COUNTRY REAL ESTATE, March 12, 2020
ECONOMICS ECONOMICS Commercial Leading Indicator Commercial Leading Indicator
COMMERCIAL ACTIVITY DECLINED IN 2019 Q4 COMMERCIAL ACTIVITY DECLINED IN 2019 Q4
February 2020 February 2020
The BCREA Commercial TheLeading BCREA Commercial Indicator (CLI) fell for
Leading Indicator (CLI) month fell for to the second straight the 134.3 second month to of in straight the fourth quarter 134.3 in the fourth quarter of 2019. Compared to the same time last year, to thethe index is up 2019. Compared same 0.3year, per cent. timebylast the index is up
by 0.3 per cent. Provincial economic activity continued to slowactivity in the Provincial economic fourth quarter continued to slow of in 2019, the with
declines in wholesale trade and fourth quarter of 2019, with manufacturing sales more than declines in wholesale trade and
offsetting a gain in retail. This left manufacturing sales more than the economic activity component offsetting a gain in retail. This left of the CLI negative for the sixth the economic activity component consecutive quarter. Office of the CLI negative for the sixth employment was up for the consecutive quarter. Office sixth consecutive quarter, but employment was up for the not enough to offset a decline in manufacturing sixth consecutive quarter, but employment, resulting in a negative change not enough to offset a decline in manufacturing in the employment component of the CLI. The employment, resulting of in the a negative financial component CLI was change also negative
in the employment component of the CLI.ofThe following three consecutive quarters positive
financial component the CLI was alsoinnegative performance. Theofunderlying trend the CLI following three consecutive quarters ofsix positive has been relatively flat over the past quarters, performance. underlying trend in the CLI for suggesting The a continued stable environment hascommercial been relatively over the past sixprovince. quarters, real flat estate activity in the suggesting a continued stable environment for commercial real estate activity in the province. About the CLI The BCREA Commercial Leading Indicator was
About the CLI
designed to forecast changes in broad commercial
BC’s economy continued to slow in the fourth quarter of 2019. Weak manufacturing sales in durable goods, BC’s economy continued to slow in the fourth quarter and lower wholesale trade sales in motor vehicles and of 2019. Weak in on durable goods, machinery andmanufacturing equipment, putsales a drag economic
and lower wholesaleretail tradesales sales in motor vehicles and activity. Meanwhile, were positive after two machinery and equipment, put agrowth. drag onDespite economic consecutive quarters of negative this, activity. Meanwhile, retail sales positive retail sales ended 2019 with thewere lowest growthafter rate two consecutive quarters of in negative since the financial crisis 2009. growth. Despite this, retail sales ended 2019 with the lowest growth rate Employment growth in key commercial real estate since thesuch financial crisis in 2009. real estate and sectors as finance, insurance, leasing continued to be positive, up by 1,600 in the Employment growth in key commercial real jobs estate fourth quarter. contrast, manufacturing employment sectors such as In finance, insurance, real estate and fell by 6,700 jobs from previous leasing continued to bethe positive, upquarter. by 1,600 jobs in the
real estate activity. Our research shows that the The BCREA Commercial Leading Indicator was variables that compose the CLI reliably forecast BC designed to forecast changes in broad commercial commercial real estate activity at a lag of two to four real estate activity. Our research shows that the quarters. The index is revised each quarter due to variables that compose the CLI reliably forecast BC revisions to the underlying data. commercial real estate activity at a lag of two to four
fourth quarter. In contrast, manufacturing The CLI’s financial component was negative employment in the fell by 6,700 jobs from previous quarter. fourth quarter due to athe decrease in benchmark
quarters. The index is revised each quarter due to
borrowing costs.
Canadian REIT prices and an increase in short-term The CLI’s financial component was negative in the borrowing costs. fourth quarter due to a decrease in benchmark
Canadian REIT prices and an increase in short-term
March 12, 2020, SOUTH OKANAGAN • BOUNDARY COUNTRY REAL ESTATE 5
BCREA Commercial Commercial Leading Leading Indicator Indicator BCREA
February February 2020 2020
Commercial Leading Leading Indicator Indicator Components Components Commercial Variation in in the the Commercial Commercial Variation Leading Indicator Indicator can can be be Leading broken out out into into three three broken distinct components: components: distinct
••
The economic economic The component of the CLI component of the CLI follows the overall follows the overall trend in the BC trend in the BC economy and reflects economy and reflects changes in economic changes in economic variables shown to lead variables shown to lead commercial real estate commercial real estate activity. activity.
••
The employment The employment component reflects component reflects changes in the changes in the commercial real estate commercial real estate environment due to environment due to changes in the overall changes in the overall business cycle. business cycle.
• •
Q4 Highlights: Q4 Highlights: • •
The financial component The financial component acts as an early warning acts as an early warning indicator from financial indicator from financial markets that could markets that could signal turning points signal turning points in the commercial real in the commercial real estate market. estate market.
• •
• •
Additional economics information is available on Additional economics information is available on BCREA’s website at: bcrea.bc.ca. BCREA’s website at: bcrea.bc.ca. To subscribe to BCREA news releases by email visit: To subscribe to BCREA news releases by email visit: bcrea.bc.ca/?subscribe. bcrea.bc.ca/?subscribe.
Economic activity continues to slow in BC, as declines were Economic activity continues to slow in BC, as declines were reported in manufacturing sales (-0.6%) and wholesales (-2.0%), reported in manufacturing sales (-0.6%) and wholesales (-2.0%), more than offsetting a gain in retail sales (0.8%). more than offsetting a gain in retail sales (0.8%). Employment growth in key commercial real estate sectors Employment growth in key commercial real estate sectors continues to be positive with the office sector gaining 1,600 jobs, continues to be positive with the office sector gaining 1,600 jobs, while manufacturing employment reported a decline of 6,700 jobs. while manufacturing employment reported a decline of 6,700 jobs. Financial markets reported a 2 per cent decrease in the Financial markets reported a 2 per cent decrease in the benchmark index for Canadian REITs, while short-term risk benchmark index for Canadian REITs, while short-term risk spreads continue to expand. spreads continue to expand.
Send questions and comments about Commercial Leading Indicator to: Send questions and comments about Commercial Leading Indicator to: Brendon Ogmundson, Chief Economist, Brendon Ogmundson, Chief604.742.2796 Economist, bogmundson@bcrea.bc.ca; bogmundson@bcrea.bc.ca; 604.742.2796 Kellie Fong, Economist, Kellie Fong, Economist, kfong@bcrea.bc.ca; 778.357.0812 kfong@bcrea.bc.ca; 778.357.0812
Copyright British Columbia Real Estate Association. Reprinted with permission. Commercial Leading Indicator is published quarterly by the British Columbia Real Estate Association. Real estate boards, real estate associations and REALTORS® may reprint this content, that credit is givenquarterly to BCREAbybythe including the following statement: “Copyright Real Estate Association. Reprinted with permission.” ® Commercialprovided Leading Indicator is published British Columbia Real Estate Association. RealBritish estateColumbia boards, real estate associations and REALTORS may reprint this
6 SOUTH OKANAGAN • BOUNDARY COUNTRY REAL ESTATE, March 12, 2020
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MEET WINE CAPITAL REALTY LTD. 444 SCHOOL AVE, BOX 220 OLIVER, BC V0H 1T0
Karen's Cell: 250-487-8873 Matt's Cell: 250-809-1893 Office: 250-498-6500 Fax: 250-498-6504
Building success in YOUR community
Introduce yourself to the community HERE and
the Osoyoos Times for $30 per insertion.
Contact Terry-Lynn | 250-495-7225
Email: Karen@winecapitalrealty.com Mathew@winecapitalrealty.com Each office independently owned & operated*
Your Realtor
Karen & Mathew Lewis, Brokers/Owners
ALAN CZEPIL Lawyer
Phone: 778-476-1061
Website: www.czepillaw.ca Corporate • Commercial • Business Law • Real Estate Wills & Estate Planning • Estate Administration
WHEN YOU NEED EXPERIENCED ADVICE
ADVERTISE in our BUSINESS DIRECTORY Contact Terry-Lynn 250-495-7225
March 12, 2020, SOUTH OKANAGAN • BOUNDARY COUNTRY REAL ESTATE 7
250-809-1420
DESERT OASIS REALTY
pamelahass@royallepage.ca
MLS® 182317
MLS® 175307
MLS® 182508 Amazing views of lake, town & mountains from this east facing home. 3bdrm up, 2 down & 3 baths. Living room and dining with open plan. Spacious kitchen with island. $659,000
D L O S
MLS® 176895
MLS® 182506
A very profitable business in the heart of Osoyoos. One level SPANISH STYLE RANCHER with This restaurant has a long history of quality food super-private yard, lovely mountain views & a and service. Including the famous Lizard Lounge large salt water SWIMMING POOL. $549,000 & Wine Bar. $199,000
MLS® 179624
Rare find!! Large lakeview lot to build your dream home!! Level entry with walkout on lower level and access from two streets. Located in the desirable golf course area. $279,000
MLS® 173597
MLS® 182526
Private 4.5 acres in the famous Regal Ridge area, just Approx. 3 1/2 acres zoned R-7 (high- Own a 1/4 share of a newly renovated 1 bdrm 20 minutes east of Osoyoos. Great mountain views, density dev). This development property 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 offers great lake views. $949,000 furnished & equipped. $34,900
Prime commercial BUILDING high foot traffic location, in the heart of Osoyoos. This is a two story (approx. 5200 sq. Ft.) $695,000
T E A M H A RV E Y Your
Mary Harvey Unlicensed Assistant
RD I B T W R O E L SN A
NEW LISTING #312 Studio Suite $132,000. Great Lakeview on the top floor.
Real Estate Team for Outstanding Service
OSOYOOS & OLIVER ROYAL LEPAGE
DESERT OASIS REALTY
Jim@outstandingrealty.ca www.outstandingrealty.ca www.walnutbeachforsale.com
WALNUT BEACH RESORT A COLLECTION of 112 Designer Suites on Osoyoos Lake. These are privately owned suites with a rental pool option to assist with the cost of ownership. Outdoor Pool Open Year Round. Two Hot Tubs, Sauna, Steam Room. Exercise Room, Marina, Boat Rentals, 800' Private Beach and more !!
NEW LISTING #325 Studio Suite $155,000.
Pool & Lakeview with deck, top floor.
Strata Fees include: Hydro, Water, Air Conditioning, Cable TV, Internet, Local Telephone.
NEW LISTING #113 Two Bedrooms $229,900.
For more information call Jim Harvey - 250-408-4696 or visit:
Ground floor, poolside, walk out to the pool, beach, BBQ’s, private deck.
250-408-4696
www.walnutbeachforsale.com
Jim Harvey
4 STUDIO SUITES from $120,000 9 ONE BEDROOM SUITES from $199,000 3 TWO BEDROOM SUITES from $229,900
CALL FOR INFORMATION Jim Harvey 250-408-4696 OR VISIT:
www.walnutbeachforsale.com
G INN MO COSO
Sole Vita Townhome
SOLE VITA
Executive 2 storey waterfront townhome w/ boat slip & boat lift. 3 bedrooms, 3 baths, granite & stainless steel. 2 car garage + 2 more spaces. Big south facing patio w/ BBQ. Sole Vita provides 2 pools, 2 hot tubs, private beach, splash park, volleyball court, recreation centre, gym and so much more. Call Jim for information.
8 SOUTH OKANAGAN • BOUNDARY COUNTRY REAL ESTATE, March 12, 2020
Dealer Day Specials ƒ
Dealer Day Specials ƒ
SAVE $90
MS 170 GAS CHAIN SAW 30.1 CC • 1.3 KW • 3.9 KG/8.6 LB ①
19995
$
MSRP $289.95 with 16" bar
MS 180 C-BE GAS CHAIN SAW
SAVE $ 80
31.8 CC • 1.5 KW • 4.2 KG/9.3 LB ①
29995
$
new
re 90 ELECTRIC PRESSURE WASHER
$
120 V • 1,450 PSI • 1.4 GPM (MAX)
MSRP $249.95
SAVE $ 50
19995
MSRP $379.95 with 16" bar
new
MS 250 GAS CHAIN SAW
SAVE $ 60
45.4 CC • 2.3 KW • 4.6 KG/10.1 LB ①
39995
$
MSRP $459.95 with 16" bar
MS 271 GAS CHAIN SAW
re 130 plus ELECTRIC PRESSURE WASHER
$
120 V • 1,595 PSI • 1.5 GPM
MSRP $429.95
rb 200 GAS PRESSURE WASHER
$
173 CC • 2,500 PSI • 2.3 GPM
MSRP $649.95
rb 400 dirt boss® GAS PRESSURE WASHER
$
196 CC • 2,700 PSI • 2.76 GPM
MSRP $849.95
SAVE $ 30
39995
SAVE $70
50.2 CC • 2.6 KW • 5.6 KG/12.3 LB ①
49995
$
MSRP $569.95 with 16" bar
MS 291 C-BE GAS CHAIN SAW
SAVE $ 50
55.5 CC • 2.8 KW • 6.2 KG/13.7 LB ①
599
$
95
SAVE $ 50
59995
MSRP $649.95 with 16" bar
MS 362 C-M GAS CHAIN SAW
SAVE $90
59.0 CC • 3.5 KW • 5.6 KG/12.3 LB ①
899
$
95
MSRP $989.95 with 16" bar
Dealers may sell for less. Pricing on all chain saws and blowers will remain in effect until June 30, 2020. Pricing on all other power tools and accessories will remain in effect until July 31, 2020. Illustrations and descriptions are as accurate as known at the time of publication and are subject to change without notice. STIHL Limited is not responsible for a printing error, the local STIHL Dealer has the final authority to set product pricing. Pricing valid at participating dealers only. ① Weight with powerhead only.
STIHLCANADA
WWW.STIHL.CA
100 Industrial Ave. East, PENTICTON, BC V2A 3H8 250-492-3808 • hondapenticton.com
SAVE $ 50
79995
Dealers may sell for less. Pricing on all chain saws and blowers will remain in effect until June 30, 2020. Pricing on all other power tools and accessories will remain in effect until July 31, 2020. Illustrations and descriptions are as accurate as known at the time of publication and are subject to change without notice. STIHL Limited is not responsible for a printing error, the local STIHL Dealer has the final authority to set product pricing. Pricing valid at participating dealers only.
STIHLCANADA
WWW.STIHL.CA