Vernon Real Estate Pages by Silver Star Media

VERNON & AREA

Armstrong Enderby Lumby

This listing is proudly presented by

Don Kassa & Ryan Danchuk

Stunning views of Kalamalka Lake and Kal park 5 beds, 4 baths. 3490 sqft. Natural swimming pool and more. Call 250.549.7050 or visit www.DonKassa.com

Issue 16 â&#x20AC;˘ Aug 20 - Sept 2, 2017

Greg Barteluk

Robin Baycroft*

Stefe Brenner*

Kathy Broderick* Christa Cleverley

RE/MAX Vernon

Brenda Ellis RE/MAX Vernon

Glenn Beach

RE/MAX Vernon

RE/MAX Lumby

Judy Fischer

Jane Field

RE/MAX Enderby

RE/MAX Vernon

Karen Jespersen Michelle Johnson

Bev Jones

Mike Beck

Larry Bennetto

Murray Bennetto

Maria Besso

Krista Blankley*

Mark Collett

Don Cowan

Doug Cuthbert*

Ryan Danchuk

Brandy DeBartolo

Debbie Fisher

Gord Fowler

Jacquie Friesen RE/MAX Vernon

RE/MAX Armstrong

Roger Gates

Marty Gilbert*

Don Kassa

Christie King

Heidi Klein*

John Kristian*

Graysen Marsh

Jayme McKillop

RE/MAX Armstrong

RE/MAX Vernon

Greg Kalyniuk

RE/MAX Vernon

RE/MAX Commercial Solutions

Barbie LeRoux

Dan Lochhead

Bonita Lundquist*

Heidi Lussi* RE/MAX Vernon

RE/MAX Commercial Solutions

Graeme Magee

Ken Magel

RE/MAX Enderby

RE/MAX Commercial Solutions

Stewart Pearson*

Damian Pighin*

Ashley Prenioslo

Teresa Prince

Dave Pusey*

Claire Radford*

Pratab Sidhu

Shawna Sidhu*

RE/MAX Vernon

Joe Pearson RE/MAX Vernon

RE/MAX Vernon

RE/MAX Lumby

RE/MAX Enderby

RE/MAX Commercial Solutions

Carol Shalovelo* Rodney Shanks RE/MAX Vernon

Armstrong

RE/MAX Vernon

Commercial Solutions

2555 Pleasant Valley Blvd 5405 26 St Armstrong, BC V0E1B0 Vernon, BC V1T 7G4 250.546.3119 250.503.3477

RE/MAX Vernon

Enderby 908 George St Box 188 Enderby, BC V0E 1V0 250.838.0025

Lumby

Vernon

RE/MAX Vernon

Lisa Salt*

RE/MAX Vernon

Elvera Silchenko Priscilla Sookarow Cheryl Soleway

Tammy Stein

Cliff Wenger

RE/MAX Lumby

RE/MAX Priscilla

RE/MAX Vernon

Brodie Tulloch

Charlie Veaudry*

Alex Wambold

RE/MAX Vernon

Vernon (Silver Star Office)

2095 Shuswap Ave 5603 27 Street 108-152 Silver Lode Lane Lumby, BC V0E 2G0 Vernon, BC V1T 8Z5 V1B 3W9 250.547.9266 250.549.4161 250.549.4161

RE/MAX Vernon

Each office independently owned and operated.

RE/MAX Vernon

*Denotes Personal Real Estate Corporation

RE/MAX Vernon

Shelby Bouchard RE/MAX Vernon

Matthew Bower RE/MAX Vernon

Sandra Bradley* RE/MAX Vernon

Norm Brenner*

Feeling Social? We are. For up-to-date real estate market information, join The Right Agents’ social media network:

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facebook.com/TheRightAgents Don Defeo* RE/MAX Vernon

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pinterest.com/TheRightAgents youtube.com/TheRightAgents

Woody Kuraoka

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RE/MAX Lumby

RE/MAX Vernon

Tannis C. Lavik RE/MAX Vernon

V. Charlette Lavik RE/MAX Armstrong

Rachel Pasemko-Almaas* Heather Paulsen RE/MAX Vernon

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RE/MAX Priscilla

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RE/MAX Vernon

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RE/MAX Priscilla

Dawn Taylor* RE/MAX Vernon

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We hope you enjoy our magazine brought to you by the RE/MAX REALTORS of the North Okanagan and Silver Star Media Inc. ®

To see your home advertised here call one of these RE/MAX agents today.* ®

Steve Wikkerink RE/MAX Vernon

Barb Williamson* RE/MAX Priscilla

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Brad Marsh

Managing Director *Not intended to solicit properties already listed for sale.

Each office independently owned and operated.

Tour 1000’s of homes online at SaltFowler.com

QUIET CUL-DE-SAC

SWAN LAKE RESORT

An affordable opportunity to build your dream home minutes to wonderful downtown Enderby, complete with underground services and fabulous views.

An oasis to call your own, make it your retreat or full time residence, with all the Okanagan attractions nearby. Lake access, club house and salt water pool!

Lots starting at $99,900 MLS 10114422

$99,900

BA Y

From $107,700

MLS 10139782

BUILD YOUR OWN CUSTOM DREAM HOME Spectacular building lot with lake view and a park like setting, it doesn’t get any better than this

$135,000

G N PI

TL Y-

VA LL EY

EW VI TN

LA KE

MLS 10138647

T EP C N O C N PE

GREAT STRATA

Charming two-bedroom apartment close to town, shopping, and local amenities, a great opportunity for investor or first time buyer!

VI EW S

MLS 10133324

IDEAL SPOT

R TU A

DV EN

VE ST O IN

LI FF

VI EW

RV !!

LE RT !

Lisa Salt* & Gord Fowler

Peace and Quiet, yet minutes away from it all. This lovely three bedroom property offers the best of both worlds.

Take advantage of this nearly entirely-updated 2 bedroom, 1 bathroom condominium with top to bottom renovations inside and out!

SPACIOUS CHARM

KAL VIEW DREAMER

A blank slate just waiting for your inspiration, this spacious 3 bedroom, 2 full bathroom mobile home offers a great location with breathtaking views!

A 6.60-acre lot that merely-awaits your imagination, a unique opportunity to build your dream home surrounded by 180-degree Kalamalka Lake views!

$154,900

$159,900

$190,000

$549,900

MLS 10139229

K EC D P RO

Bring your plans and build your dream home, this property is a recreational paradise with direct crown land access.

$599,000

MLS 10132960/10132967

*Denotes Personal Real Estate Corporation

GREAT POTENTIAL

This 22-acre property combines with a turnkey home for the ultimate package filled with income and expansion opportunity! $725,000

MLS 10122563

O VE

0 16

OUTSTANDING VIEWS!

MLS 10139182

FT O

-IN

R ES

R EA DY

MLS 10130934

LIKE-NEW CONDO

MLS 10138798

www.SaltFowler.com |

GREAT REVENUE

With five separate balconies, you’ll never miss a sunset! 3 Bed, 3 Bath unit at the fabulous Outback Resort! $749,000 MLS 10112077

Vernon

BIRDIE LAKE BEAUTY

Spectacular living both inside and out, this open concept Predator Ridge home on Birdie Lake is the life of the party! $799,900

MLS 10137191

It’s not the market… it’s the marketing.

#416 3700 28A Street Sunday Aug 20, 12:00-1:30pm

Mountainview Place

Enjoy this 2 bedroom, 1 bathroom updated corner unit with fabulous mountain views. Call to view today! MLS NEW

H IT C K EW N

2304 21 Street Sunday Aug 20, 12:00-1:30pm

2503 25 Street Sunday Aug 20, 2:00-3:30pm

CLOSE TO KIN BEACH

CUL-DE-SAC CHARM

CHARM & CHARACTER A fabulous combination of original character and up-todate renovations, this charming home has it all!

The hard work has been done for you within this well-appointed and updated three bedroom, two full bathroom family home! $474,900 MLS 10137915

Minutes from local schools, this family-friendly property offers abundant space both inside & out! MLS 10139476

$599,900

MLS 10139475

R X

FT O

O RO

217 Country Estates Drive Sunday Aug 20, 2:00-3:30pm

GOLF & VIEWS

Built around the utmost in appreciation of the views of the 13th hole of the Vernon Golf Course, this 3 (or 4) bedroom Country Club Estates Home is truly inspired! $689,900

MLS 10137734

5904 Dixon Dam Road Sunday Aug 20, 2:00-3:30pm

1057 Mt. Begbie Drive Sunday Aug 20, 2:00-3:30pm

CUSTOM FINISHES

Newer than this simply does not exist! This four bedroom two-storey home is currently nearing completion & awaiting its first residents! From $769,900 MLS 10137740

COUNTRY LIVING

The best of both worlds, this country home on 10.7 mostly flat acres is only minutes away from all the downtown amenities you could ever need! $879,900

IV AT E

AC R

RO TT O

MLS 10137097

C O

B EL

LA K

PR O PE

RT Y

MLS NEW

D P

DW O R A H

MAIN FLOOR MASTER

Spectacular lake, mountain, and valley views set the tone for this bright and open-concept 5-bedroom, 3-bathroom property!

$558,000

LA C EP R Fi S A G 2

685 Mt. Thor Drive Sunday Aug 20, 12:00-1:30pm

$675,000

N AT IO C LO EA T R

6110 OK Landing Road Sunday Aug 20, 2:00-3:30pm

$158,000

TW O

SU N K EN

H O T

TU B

SUNDAY OPEN HOUSE BLITZ

9000 SQFT. SHOP

Enjoy the simple life within this spectacular 5 bedroom log home on 20 acres, the ideal means to get away from it all! $955,000 MLS 10138953

LAKEVIEW INVESTMENT Not your average multi-family home, gas fireplaces, 2.523 acres & Swan Lake view balconies set this 4-plex apart from the competition! $999,900

MLS 10136361

DREAM WINERY

SUMMER PARADISE

This farm is ideally situated to support any large-scale fruit production operation including apples, cherries, blueberries, or grapes.

Executive contemporary lakefront property with all the extras plus a view that just won’t quit. Prepare to be amazed today!

$1,690,000

Call 250.549.7258 TODAY and

MLS 10129947

$1,999,999

MLS 10133571

DonKassa

REALTOR ® SERVICES Over 45 years of combined experience

Don Kassa (left) REALTOR®

Ryan Danchuk (middle) REALTOR®

Tracie Gobelle (right) Administrator

250.549.4161

DonKassa.com donkassa@donkassa.com Brand new 5 bdrm, 4 bath home w/ a backyard oasis and stunning views of Kalamalka Lake and Kal park. 3490 sqft. Enjoy the deluxe kitchen while taking in the views or watching the kids play in the pool. The terraced rear yard is fully landscaped with multiple sitting areas, 7 raised garden beds, 6 fruit trees and a natural swimming pool built right into the rock. MLS#10139037

8798 Braeburn Drive

$1,300,000

Sweeping views from the Spallumcheen valley to Kal Lake from this 4.97 acre dream property. Adjacent to the Grey Canal walking trail and only 8 minutes from town the lot has great South Western exposure allowing for incredible sunsets. Numerous building sites, you can choose to build in the trees or right above the rocky bluffs. Well is in with plenty of water at 9GPM. MLS#10139734

New

Lot 1 Mclennan Rd

In Canadian Lakeview, with a shared boat launch and beach complete with showers and picnic area, accessed thru a quiet side street. No building scheme and no building commitments. On a quiet street with full underground services. A low side lot with minimal site preparation needed to start construction. RV parking can be created on the lot. MLS#10127715

16 Garmisch Road

$139,000 16.15 acres in Coldstream, with lake and valley views. South facing property is gently rolling. This is a fantastic location - close to schools, shopping, and almost unlimited recreational opportunities. Property has an agricultural water allocation for 5.26 hectares for irrigation. This equates to approximately 28,930 cubic metres per year. Due to its location, the property is not greatly impacted by Hwy 6. Access trails through property have been mowed. MLS#10137144

9269 Highway 6

$987,500

$1,040,000

$449,900 Largest floor plan available at the Strand Lakeside Resort. 3 master bedrooms plus a den all on one level facing the lake and pool area. Huge covered deck makes a great set up to check out the action on the water or keep an eye on the kids while they play at the pool and beach. Fully furnished with a boat slip and two underground parking spots. MLS#10138066

1101 - 7343 Okanagan Landing Rd

Reduced $200,000

7373 Brooks Lane #1

On Okanagan Lake, 10 minutes from downtown Vernon, BC. A spectacular view of one of the widest parts of Okanagan Lake. 80 ft of lake frontage, .21 acres with a gentle slope and easy access. Near a public boat launch for convenience. Owned by the same family since the 1950s MLS#10132068

8823 Okanagan Landing Rd

Vernon

$849,900

On Okanagan Lake, a 4360 sqft. Mediterranean inspired waterfront home with extensive use of glass to fully appreciate the expansive views. A soaring rock clad thirty five foot high entry turret is your first impression. There are 4 bedrooms, 4.5 bathrooms, 3 family/great room areas, an office and unfinished area under the suspended slab garage. A private lakefront pool and a boat slip for your pleasure. MLS#10130829

$1,798,000 Build your Dream Home at THE TERRACES at Adventure Bay. This just under 1/4-acre building in a great location has exceptional unobstructed lake, mountain and city views and is ideally situated to capture morning sunlight from your view deck! Lot is ready to build! All utilities available, paved roads & sidewalks are already in place. MLS#10133475

8812 Oxford Road

$219,000

To view more listings please visit www.DonKassa.com or www.SilverStarProperties.ca

THEREALESTATEPAGES.CA | 7 !

m Co

#62 4740 20th Street

2 Bdrm, 2bth, bright spacious upper condo unit in popular Skyway Village! Be the first to view this affordable strata unit, in a great location!

Maria Besso (250) 308-1152 | mariabesso@shaw.ca | www.mariabesso.remax.ca Deb

Deveau REALTOR®

Judy

Your Key to the North Okanagan

g Sellin Now ase 3 Ph

Fischer REALTOR®

y for Read

*Personal Real Estate Corporation

$549,000 64 Hwy 97A, Enderby Call Deb & Judy @ The Key Team - MLS10133829

ishe

Furn

$399,000 $399,000

$249,000 105 Brickyard Rd, Enderby Call Deb & Judy @ The Key Team - MLS10139750

5687 Hartnell Road NE

35 Walker Road, Enderby Call Deb & Judy @ The Key Team - MLS10135198

1213 Northern Crescent, Enderby Spacious 4 bedroom, 3 bath bi-level home w/covered deck. Level lot, fenced yard, Storage shed. Workshop/storage area on front of house. Call Bonita Lundquist PREC 250-306-8184 - MLS 10139464

#122 - 1108 14th Avenue

Enderby

REALTOR®

cres

droo

$279,000 - $289,000

Lundquist*

908 George St. Enderby, BC

$249,000

Brielle View – Unit 7, 8, 9 & 10 Enderby's newest townhouses, Phase 2 under construction & sold out, Phase 3 selling now... Call Deb & Judy @ The Key Team

Bonita

1-888-609-7764 250-838-0025

#61 – 30 Lusk Lake Rd, Enderby Call Deb & Judy @ The Key Team - MLS10133544

2 Be

#31 - 8000 Highland Road

Vernon

Quiet and peaceful recreational lifestyle! On the shore of Swan Lake, enjoy a large outdoor pool, hot tub, and gym. This FREEHOLD ownership offers a manicured lot with sweeping views, $160.00/month maintenance Vernon fee includes: sewer, water, garbage, snow removal, maintenance of common area & park roads.

Vernon

$79,900

mls 10135732

Meticulously kept home and yard, custom built 2856 sq ft home sitting on 4+ acres in the South BX with stunning views of city, valley and both lakes. 3 bdrm (easily 4) & 3 bath level entry home, modern open floor plan providing spacious rooms with large windows taking full advantage of the incredible views

mls 10139544

$750,000

Experience & heart goes into every transaction! Vernon

Vernon

Hillview Meadows! Golf course in your back yard, 55 plus gated community, relax after golf in the pool or hot, Over 2700 sq.ft., 4 beds + family room on the main floor & large family room down, large open style kitchen, 3 baths, main floor laundry, full basement, huge workshop downstairs, private covered deck, central air, RV parking.

mls 10139546

$459,000

Carol Shalovelo Personal Real Estate Corporation

250-503-8332 www.OkanaganProperties.com

What is your home worth in today’s market? Call for an up to date market evaluation, it’s on the house.

Serving locally & marketing globally.

250.309.0039 chris@chrisholm.ca

Brenda Ellis

Brent Stevenson

Shelby Bouchard

REALTOR®

250.549.0023

250.309.9969

250.308.4310

REALTOR®

Diane Callbeck Client Care Specialist (unlicensed)

Kendra Scarrott Executive Assistant (unlicensed)

your listing You Deserve

Your Home

We Are

a team whose clients come first

services that make your home stand out

should receive maximum exposure

Home staging consultation HD photography package HD property videos Professional floorplans Custom property booklets Open houses Listings translated to over 70 languages

Full MLS distribution Strategic Facebook, YouTube and Instagram advertising Relevant email marketing Syndication to 900+ websites RE/MAX networking with over 100,000 agents in 100 countries

Leaders in marketing trends 35 years combined experience Certified Negotiation Expert Certified International Property Specialist RE/MAX Hall of Fame recipient Our fees start at just 4%

Because the world is online, so are all of our listings.

View our listings + 100's more at ChrisHolmRealEstate.ca

Vernon

Vernon is pleased to welcome Pratab Sidhu to our team of professionals. Hi there my name is Pratab Sidhu, hoping I can serve all your needs when it comes to finding your dream space. Living in the Okanagan from birth has given me a deep understanding of the depth and beauty this valley has to offer. Finding you the ideal spot to plant your roots for generations to come will be my ultimate goal. My family has been here for generations, the love for the Valley has kept me here. My passions for golf, water sports and sheer appreciation for nature have kept me from ever wanting to leave. I wish to build my life surrounded by such beauty. To build a foundation for a career in Real Estate and the honor of joining the RE/MAX name has brought me great pleasure.

Business & Farm

Home & Travel

Auto & RV

All Insurance Services We provide protection options as unique as you are. 250-545-5311 www.jmins.com

3923 32 St. Vernon, BC V1T 5P2 Monday thru Friday: 7:30-5:30, Saturday: 9:00-5:00

From childhood into retirement this Valley has something to offer everyone. My grandfather down to my great niece and my beautiful mother Kal are able to see a long beautiful future. So come along and join the adventure and see what the Okanagan has to offer. I have no doubt the brisk winter beauty of the mountains, down to the warm sandy beaches surrounded with pristine waters, will arouse your very senses. I look forward to building a trusting relationship with my clients, so that I may serve you and yours for now and the future. Let me create a stress free experience when it comes to all your Real Estate needs. I would like the opportunity to earn your business through my hard work and dedication to fulfilling your every need

Pratab Sidhu 250-308-6243 pratabsidhu15@gmail.com

THEREALESTATEPAGES.CA | 9

8007 Kalview Drive

· 2+2 bedrooms, 3 baths · Brand new roof · Brand new hardwood and quartz counters. · Amazing Kal Lake views MLS: 10138849 $699,900

#411-3220 Centennial Dr

· Top Floor, corner unit · 2 bdrms, 2 baths · 1151 sq.ft. · Excellent views · Two parking spots · Underground parking

JANE FIELD Cell 250.938.2830 Office 250.503.3755 Toll Free 1.888.503.3755

NOW IS THE TIME TO LIST

MLS: 10133403 $349,900

6609 Southwind Road

· 2+1 bdrm/2.5 baths · Den downstairs · Spectacular Lakeview from expansive sundeck · Tandem style double garage · Extreme privacy in back yard · Spotlessly clean & cared for. MLS: 10137539 $499,900

jane@vernonrealestate.ca Vernon

5603 - 27th Street Vernon, BC V1T 8Z5

Buyers are looking now! For experience and great service call Jane.

250.938.2830

Vernon VISIT ALL OUR LISTI NGS AT

OKANAGAN LAN DS . COM

$699,900

$895,000 - New Construction

$1,195,000

8816 Oxford Road

7111 Apex Drive

1004 Longacre Place

$999,000

$1,295,000

$2,868,000

802 Brassey Place

1012 Longacre Place

8071 Okanagan Landing Road

Call us for more info: 1-250-503-3752 or okanaganlands.ca

All Listings are MLS®

Heidi Lussi PREC Steve Wikkerink REALTOR® Beate Schmidt REALTOR® Susan Olney Administrative Coordinator

We are NEVER too busy for your referrals

The

Heidi Lussi Real Estate Team

www.heidilussi.com | 250-503-3487 | info@heidilussi.com

Vernon

SUGAR LAKE RECREATIONAL PROPERTIES

OPEN HOUSE: Sunday, August 20th 12:00-3:00pm •

· Sugar Lake Recreational Properties keeps getting better; Come out and view the resort including or newest addition, the floating doc. Visit us during the open house & pick out your Cabin or RV Lot · Room rentals at the lodge and RV lot rentals available, book your stay today and stay for the experience. · View all details & drone video at www.heidilussi.com under recreational properties.

• • •

Cabin & RV Lots – starting at $69,500

#106-3700 28A Street New Price

New

Newly renovated 2 bedroom, 1 bath apartment, convenient location, rentals and pets permitted, well managed & renovated building. $146,000 MLS®:10137500

#23 - 4740 20th Street

Spacious 2 Bedroom, 2 bath unit in Skyway Village w/ lots of new updates, double garage & cozy back yard patio. Pets permitted with restrictions. $359,800 MLS®:10139919

7458 Fleming Road New

3 bedroom, 2 bath on main level + finished basement, indoor swimming pool w/ lakeview. Privacy galore & unobstructed lake & mountain view from both levels. Landscaped, fenced yard w/ underground sprinkler system.

$648,500 MLS®:10139826

For ALL listings visit www.heidilussi.com

THEREALESTATEPAGES.CA | 11

Tracy Lauriente

Buy or sell

with me and use this trailer for free for your local move.

250.540.4143

vernonbcproperty.com tracylauriente@gmail.com List with me & receive: Quality feature sheets Professional photographer Video tour of your home Social Media Marketing Vernon

408 - 3805 30th Ave, Vernon Fantastic top floor NW corner condo with high ceilings, 2 bdrm, 2 bath, in-suite laundry, central a/c , tastefully decorated & much more! Secured underground parking, close to all amenities. $314,900

635 Thorneloe Road, Kelowna

Three bdrm, 3 bath home on low maint. .39 acre property. Features vaulted ceilings, open floor plan, newer bathroom, updated kitchen, new deck, new roof with skylights and much more! Great suite potential and multiple gardens, ponds and deck areas. $629,900

e-Editions available online YourRealEstatePages.com

@REPVernon

Vernon Real Estate Pages

BCREA HOUSING FORECAST UPDATE

February 2017

12BCREA HOUSING FORECAST UPDATE BCREA HOUSING FORECAST

February 2017 June 2017

BCREA HOUSING FORECAST BCREA HOUSING FORECAST

Housing Forecast Summary — First Quarter Housing Forecast Summary — First Quarter

UnitTHE Sales FOREIGN BUYER Average SPECIAL FEATURE: IMPACT OF TAX MLS

June 2017 Price ($)

2016 2018F 2016Average MLS 2017FPrice ($) 2018F Board Area Unit2017F Sales SPECIAL FEATURE: SPECIAL IMPACT FEATURE: OF THE FOREIGN IMPACT BUYER OF THETAX FOREIGN BUYER TAX On August 2016, the provincial 10,028 9,250 8,500 585,745 599,000 608,000 2016 2017F 2018F 2016 2017F 2018F Board1, Area ®

Victoria government implemented an additional 27.5% -7.8% -8.1% 12.3% 2.3% 1.5% 10,028 9,250 585,745 599,000 608,000 On 15 August 1, 2016, theTransfer provincial On the provincial8,500 Victoria per cent Property TaxAugust on all 1, 2016,-7.8% 10,532 9,400 8,750 $383,192 $396,000 $402,000 27.5% -8.1% 12.3% 2.3% 1.5% Vancouver Island government angovernment additional residentialimplemented sales transactions by10,532 foreign 26.6% implemented -10.7% an additional -6.9% 12.8% 3.3% 1.5% 9,400 8,750 $383,192 $396,000 $402,000 Vancouver Island 15 per cent Property Transfer 15 Taxper oncent all Property Transfer Tax on345 all entities in Metro Vancouver. 417 390 $284,471 $288,000 $291,000 26.6% -10.7% -6.9% 12.8% 3.3% 1.5% Powell River Sunshine Coast residential sales transactionsresidential by foreign by -11.5% foreign 9.4% sales transactions -6.5% 15.3% 1.2% 1% 417 390 345 $284,471 $288,000 $291,000 ToRiver getinaSunshine sense of how the foreign entity Powell Coast 40,880 34,000 35,750 1,017,228 942,000 963,000 entities Metro Vancouver. entities in Metro Vancouver. 9.4% -6.5% -11.5% 15.3% 1.2% 1% Greater Vancouverhome sales in the months tax impacted -5.2% -16.8% 5.1% 12.7% -7.4% 2.2% 40,880 34,000 35,750 1,017,228 942,000 963,000 Greater Vancouver following theofintroduction ofTothe tax, it is of how To get a sense how the foreign get entity a sense the foreign entity 23,086 19,700 18,900 $676,946 $657,000 $668,000 -5.2% -16.8% 5.1% 12.7% -7.4% 2.2% Fraser Valley compare to the home-14.7% 15.1% -4.1% 17.2% -2.9% 1.7% tax necessary impactedto home salestoday’s in the taxsales months impacted sales in the 18,900 months 23,086 19,700 $676,946 $657,000 $668,000 Frasercorrect Valley counterfactual of where sales would 4,306 3,400 3,100 $397,911 $416,000 $428,000 following the introduction of following the tax, it the is introduction of the tax, it is 15.1% -14.7% -4.1% 17.2% -2.9% 1.7% Chilliwack and District have been absent the tax. This is particularly 37.2% -21% -8.8% 18.4% 4.5% 2.9% necessary to compare today’snecessary sales to the to compare today’s sales to the $397,911 4,306 3,400 3,100 $416,000 $428,000 Chilliwack and District true given that home sales had already been -21% 3,181 2,870 2,700 345,528 355,000 362,000 37.2% -8.8% 18.4% 4.5% 2.9% correct counterfactual correct salescounterfactual would of where sales would Kamloops and District of where cooling off since the spring of 2016, and 23.6% -9.8% -5.9% 5.9% 2.7% 2% 3,181 2,870 355,000 362,000 have been absent the tax. This have is particularly been absent the tax. This is2,700 particularly 345,528 Kamloops and District a lower level of 10,036 simply comparing sales in 8,400 8,600 $461,791 $468,000 $476,000 23.6% -9.8% -5.9% 5.9% 2.7% 2% Okanagan trueAugust givenMainline that home sales had true already given that beenhome sales had already been 13.1% to the heights of the market in the 25.6% -16.3% 2.4% 1.3% 1.7% 10,036 8,400 8,600 $461,791 $468,000 $476,000 cooling off spring 2016,2,459 and off since the2,050 spring of 2016, and % Change Month-Over-Month in REBGV MLS Unit Sales (Seasonally Adjusted) Okanagan 1,975 $364,295 $351,000 $356,000 earlyMainline partsince of thethe year wouldofcooling dramatically 25.6% -16.3% 2.4% 13.1% 1.3% 1.7% South Okanagan* simply comparing a lower level simply ofasales comparing in a-16.6% lower level of-3.7% sales in 21.6% 11.3% -3.6% 1.4% overstate the impact. To provide more 2,459 2,050 1,975 $364,295 $351,000 $356,000 South Okanagan* August to the heights of the market August in to the the heights of the market in the 260 285 325 $233,363 $243,000 $248,000 appropriate benchmark, once the tax was 21.6% -16.6% -3.7% 11.3% -3.6% 1.4% Northern Lights Month-Over-Month % Change in REBGV MLS Unit Month-Over-Month Sales (Seasonally%Adjusted) Change -16.7% 9.6% 14% -13.4% 4.1% 2.1% in REBGV MLS early part of theBCREA year would dramatically early of the year285 would dramatically announced, simulated howpart home 260 325 $233,363 $243,000 $248,000 Northern Lights 2,955 2,500 2,575 $282,758 $286,000 $291,000 sales inthe theimpact. REBGV area would evolve under overstate To provide overstate a-16.7% more the impact. To provide a more 9.6% 14% -13.4% 4.1% 2.1% Kootenay 18.2% -15.4% 3% 2.7% 1.1% 1.7% a no-tax scenario. We also conducted a benchmark, 2,500 once the 2,575 $286,000 $291,000 appropriate benchmark, once appropriate the2,955 tax was tax was $282,758 Kootenay 4,069 4,100 4,250 $263,703 $265,000 $269,000 separate simulation under the assumption 18.2% -15.4% 3%home 2.7% 1.1% 1.7% announced, BCREA simulated announced, how home BCREA simulated how BC Northern -3.4% 0.8% 3.7% -0.4% 0.5% 1.5% that about half ofarea the measured foreign 4,069 4,100 4,250 $263,703 $265,000 $269,000 sales in the REBGV would sales evolve in the under REBGV area would evolve under BC Northern 112,209 96,345 95,770 691,144 657,026 666,657 -3.4% 0.8% 3.7% -0.4% 0.5% 1.5% investment for the REBGV area would be BC Total a no-tax scenario. We also conducted a no-tax scenario. a We also conducted 9.5% -14.1% -0.6%a 8.6% -4.9% 1.5% 96,345 95,770 691,144 657,026 666,657 pushed out of the market. ® 112,209 BC Total separate simulation under the separate assumption simulation under the assumption NOTE: The Northern Lights Real Estate Board (NLREB) became part of-14.1% the South Okanagan-0.6% Real Estate Board (SOREB) 1, 2011. 9.5% 8.6% on January-4.9% 1.5% thatItabout half of the foreign about *Excluding Northern Lights turned out that themeasured impactthat of the tax half of the measured foreign NOTE: The Northern Lights Real Estate Board (NLREB) became part of the South Okanagan Real Estate Board (SOREB) on January 1, 2011. investment for the REBGV area investment would be for the REBGV area would be was much more immediate than in our *Excluding Northern Lights simulation, owing to sales being brought ® pushed out ofprovides the market. pushed out of market.on®economic factors affecting British Columbia and its housing markets. BCREA Economics timely research, analysis andthe information forward to July to avoid the tax. Indeed, total BCREA Economics provides timely research, analysis and information on economic factors affecting British Columbia and its housing markets. ItThe turned that of Itinturned the tax(BCREA) out thatis the REBGV sales fellthe 19 impact per cent August 2016 Britishout Columbia Real Estate Association the impact of the tax Send questions and comments about the Housing Forecast to: was much more immediate than was in much our more immediate than in our ® compared to our projection of just 8(BCREA) per cent. professional association for more than 20,000 REALTORS The British Columbia Real Estate Association is the in BC, Send questions comments about the Housing Forecast to: Cameron Muir,and Chief Economist, However, since then, sales have evolved simulation, owing to sales being simulation, brought owing being brought ® to sales focusing onassociation provincial issues that impact real REALTORS estate. Working in BC,with professional for more than 20,000 cmuir@bcrea.bc.ca; 604.742.2780 Cameron Muir, Chief Economist, as11expected ourimpact scenario analysis. forward July to avoid the tax. forward Indeed, to July total to avoid the tax. Indeed, total the broadly province’s real estateinthat boards, BCREA continuing focusing onto provincial issues realprovides estate. Working with cmuir@bcrea.bc.ca; 604.742.2780 Brendon Ogmundson, Economist, In fact, since the end of 2016, other than a professional education, advocacy, economic research and REBGV sales fell 19 per cent in REBGV August sales 2016 fell 19 per cent in August 2016 the province’s 11 real estate boards, BCREA provides continuing bogmundson@bcrea.bc.ca; 604.742.2796 ® weather-induced blip in January, sales Ogmundson, Economist, provide for their clients. of justBrendon standard forms to help REALTORS compared to our projection ofcompared justhome 8value perto cent. our projection 8 per cent. professional education, advocacy, economic research and bogmundson@bcrea.bc.ca; 604.742.2796 have been onthen, an upswing and are where we then, sales have evolved However, since sales®have However, evolved provide valuesince for their clients. standard forms to help REALTORS Additional economics information is available on To demonstrate profession’s to improving Quality would havethe expected themcommitment to have been BCREA’s website at: www.bcrea.bc.ca. broadly as expected in our scenario broadlyanalysis. as expected in our scenario analysis. Additional economics information is available on Life in BCpoint, communities, supports that help at this withoutBCREA thecommitment tax. Somepolicies of Toofdemonstrate the profession’s to that improving Quality In fact, since the end of 2016, In other fact, than since a the end of 2016, other than a BCREA’s website at: www.bcrea.bc.ca. ensure economic vitality, provide housing opportunities, preserve momentum in the market due tothat help of Lifeadded in BC communities, BCREA supportsispolicies To sign up for BCREA news releases by email visit: weather-induced blip in January, weather-induced home sales blip in January, home sales the aenvironment, protect property owners and build www.bcrea.bc.ca/news-and-publications/publications/ return of some foreign buyers, though to better ensure economic vitality, provide housing opportunities, preserve To sign up for BCREA news releases by email visit: have been on an upswing and have are been where on we an upswing and are where we manage-subscriptions. communities with good schools and safe neighbourhoods. less than half of the levelsowners observed thebetter the environment, protect property and in build www.bcrea.bc.ca/news-and-publications/publications/ would have expected them to would have have been expected them to have been summerwith of 2016. manage-subscriptions. communities good schools and safe neighbourhoods. ®

at this point, without the tax.atSome this point, of thatwithout the tax. Some of that added momentum in the market added is due momentum to in the market is due to Housing Forecast is published quarterly by the British Columbia Real Estate Association. Real estate boards, real estate associations and REALTORS may reprint this content, a return of some foreign buyers, a return though of some to foreign buyers, though to 2 6provided that credit is given to BCREA by including the following statement: “Copyright British Columbia Real Estate Association. Reprinted with permission.” Housing is published quarterly by the British Columbia Real Estate Association. Real estate boards, real estate associations and REALTORS may reprint this content, lessForecast than of the observed less than inhalf the levels observed in the BCREA makes no half guarantees as tolevels the accuracy or completeness of of thisthe information. provided that credit is given to BCREA by including the following statement: “Copyright British Columbia Real Estate Association. Reprinted with permission.” summer of 2016. summer of 2016. BCREA makes no guarantees as to the accuracy or completeness of this information. ®

1420 - 701 Georgia Street West, PO Box 10123, Pacific Centre, Vancouver, BC V7Y 1C6 1420 - 701 Georgia Street West, PO Box 10123, Pacific Centre, Vancouver, BC V7Y 1C6

Phone: 604.683.7702

Fax: 604.683.8601

Email: bcrea@bcrea.bc.ca 2

Email: bcrea@bcrea.bc.ca

26 Vernon *Personal Real Estate Corporation

Unit Sales (Seasona

THEREALESTATEPAGES.CA | 13

Desert Cove with Open View

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55+ Community Across from Shuswap Lake! Brand new double-wide manufactured home in Bastion Mobile Village. 3 Bedrooms, 2 baths. Open design with large kitchen & island, stainless steel appliances. Private backyard w/two sheds.

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7.36 Acres Minutes to Armstrong! 360 Degree farmland views! Horse setup. Family home, 3 bedrooms, den, 3 baths! Triple garage. New sewerage treatment system, furnace, air conditioning, updated kitchen, flooring, gutters, fencing.

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82.4 Level Acres in Westwold Valley! 2 Fertile titles bordering Salmon River. 2 Wells. 4 Acre pasture. Barn with loft & 2 paddocks. Beautifully updated 4 bedroom, sprawling log home. Great location, just 40 minutes to Vernon or Kamloops.

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