New Listing! VERNON & AREA
Armstrong Enderby Lumby
Coldstream Home on large lot! 4 bedroom, 3 bath $879,900 CALL CHRIS FOR MORE INFORMATION TODAY! 250-306 -2527
This listing is proudly presented by
Chris Santos Successfully serving clients in an honest and friendly manner for over 26 years, you can rely on Chris’ professional experience to guide you through the sale or purchase of your home. Knowing the importance of giving to the community, a portion of every sale she makes is donated to our local Hospice Society. Call Chris today at 250-306-2527
Issue 31 • Mar 25 - Apr 7, 2018
Greg Barteluk
Robin Baycroft*
Glenn Beach
Murray Bennetto
Maria Besso
Mark Collett
Don Cowan
Doug Cuthbert*
Carla Dahlen
Ryan Danchuk
Brandy DeBartolo
Don Defeo*
Craig Demetrick
Judy Fischer
Debbie Fisher
Gord Fowler
Jacquie Friesen
Roger Gates
Marty Gilbert*
Kyle Goulet
Chris Holm*
Bev Jones
Greg Kalyniuk
Don Kassa
Kate Kessler
Christie King
Heidi Klein*
John Kristian*
Woody Kuraoka
Dan Lochhead
Bonita Lundquist*
Heidi Lussi*
Nick Lutsenko
Graeme Magee
Ken Magel
RE/MAX Enderby
RE/MAX Commercial Solutions
Graysen Marsh
Jayme McKillop
Teresa Prince
Dave Pusey*
Claire Radford*
RE/MAX Vernon
RE/MAX Enderby
RE/MAX Vernon
RE/MAX Vernon
RE/MAX Vernon
RE/MAX Enderby
RE/MAX Vernon
RE/MAX Vernon
RE/MAX Vernon
RE/MAX Lumby
RE/MAX Vernon
RE/MAX Vernon
RE/MAX Enderby
Heather Paulsen RE/MAX Priscilla
RE/MAX Vernon
RE/MAX Vernon
Joe Pearson RE/MAX Vernon
Armstrong
Pratab Sidhu RE/MAX Vernon
RE/MAX Priscilla
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
RE/MAX Vernon
RE/MAX Enderby
RE/MAX Vernon
Stewart Pearson* Ashley Prenioslo
RE/MAX Commercial Solutions
Carol Shalovelo* Rodney Shanks RE/MAX Vernon
RE/MAX Vernon
Enderby
Lumby
RE/MAX Vernon
Shawna Sidhu* RE/MAX Vernon
Vernon
RE/MAX Vernon
RE/MAX Vernon
RE/MAX Enderby
RE/MAX Vernon
RE/MAX Commercial Solutions
RE/MAX Vernon
Krista Blankley* Shelby Bouchard RE/MAX Vernon
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RE/MAX Vernon
Priscilla Sookarow Cheryl Soleway RE/MAX Priscilla
RE/MAX Vernon
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RE/MAX Vernon
Sandra Bradley* RE/MAX Vernon
RE/MAX Priscilla
RE/MAX Vernon
RE/MAX Lumby
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Lisa Salt*
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Tammy Stein
Brent Stevenson
Alex Wambold
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RE/MAX Vernon
RE/MAX Vernon
Vernon (Silver Star Office)
908 George St Box 188 2095 Shuswap Ave 5603 27 Street 108-152 Silver Lode Lane Enderby, BC V0E 1V0 Lumby, BC V0E 2G0 Vernon, BC V1T 8Z5 V1B 3W9 250.547.9266 250.549.4161 250.838.0025 250.549.4161
Brad Marsh
Managing Director Each office independently owned and operated.
*Denotes Personal Real Estate Corporation
RE/MAX Vernon
RE/MAX Vernon
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Kathy Broderick* Chrysta Cleverley* RE/MAX Vernon
Feeling Social? We are. For up-to-date real estate market information, join The Right Agents’ social media network:
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Denise Dobie* RE/MAX Vernon
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Connor Hutchinson RE/MAX Vernon
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pinterest.com/TheRightAgents youtube.com/TheRightAgents
Tracy Lauriente RE/MAX Vernon
Tannis C. Lavik V. Charlette Lavik RE/MAX Armstrong
Shane McMorran* Robert Moorhouse RE/MAX Vernon
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Chris Santos
Beate Schmidt
RE/MAX Vernon
Alan Stier
RE/MAX Priscilla
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Dawn Taylor* RE/MAX Vernon
RE/MAX Armstrong
Barbie LeRoux RE/MAX Vernon
Joanne Pappin Rachel Pasemko-Almaas* RE/MAX Vernon
Darline Scott RE/MAX Lumby
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RE/MAX Vernon
Charlie Veaudry* RE/MAX Vernon
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.* ®
Cliff Wenger RE/MAX Vernon
Steve Wikkerink RE/MAX Vernon
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*Not intended to solicit properties already listed for sale.
Each office independently owned and operated.
4
Tracy Lauriente
O: 250-549-4161 C: 250-938-2604 doncowan@remax.net
Don Cowan Ne
w
t L is
250.540.4143 vernonbcproperty.com tracylauriente@gmail.com
Vernon
0
ing
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$
800 Gardom Lake Rd, Enderby Stunning 28 acre property with custom built home set up for horses. MLSÂŽ10150368
249 Country Estate Drive, Vernon Here is a 2 + 2 bedroom rancher with a daylight walkout basement, overlooking the Vernon Golf Course. Outstanding views are the best feature. Original 26 year old condition and definitely needs a renovation, but priced accordingly. Great features such as main floor family room off kitchen, spacious Master with 5 piece ensuite, sunken living room, double garage and more. Call me for all the details. MLSÂŽ10151049 $574,900
Buy or sell
with me and use this trailer for free for your local move.
Vernon
With over 30 years selling Real Estate in Vernon, I know the market.
e-Editions available online YourRealEstatePages.com
@REPVernon
Vernon Real Estate Pages
YOURREALESTATEPAGES.COM | 5
Vernon is pleased to welcome Carla Dahlen to our team of professionals.
DOUBLE TROUBLE…not only has Carla Dahlen joined RE/MAX Vernon, she has partnered with Norm Brenner with the Brenner Group of Realtors. This family team is merging the experienced old “veterans” with the vibrancy of the younger family members to bring clients a first class real estate experience. “We are blending the best of real estate technology with our old fashioned family values in order to create an incredible real estate experience” states Dahlen. “Our clients want results, value, and service... plus they want to work with people they trust… and we deliver in all areas”. To find out more or just say "hi", call Carla Dahlen today.
Carla Dahlen 250-938-0421 carla@carladahlen.com
Enderby is pleased to welcome Kate Kessler to our team of professionals. Kate Kessler was raised in Enderby and grew up loving the lifestyle the North Okanagan offers and the people that make up the close-knit community of her home town. Her dedication and passion for helping others shines through in all facets of her life. Her strong customer service background is attributed to the family owned business she worked in, now enhanced by continued education, working knowledge & relationships she’s made along the way. She is poised and eager to commit to her new career, helping make your real estate dreams become a reality. Kate is thrilled to be joining The Key Team RE/MAX Enderby. She recognizes the importance of a successful brand and mentorship as she enters this new career. Her team members Deb Deveau & Judy Fischer have decades of effective experience in this industry and look forward to welcoming Kate. Kate has experience buying and selling homes and understands the responsibility, involvement, and expertise the "right" agent can provide. Let Kate be that "right" agent for you!
Kate Kessler 250-838-0025
Your Key to the North Okanagan! www.thekeyteam.ca
The sign you want The Agent you need. TheRightAgents @RightAgents TheRightAgents.com
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
6760 Cools Road
Vernon
#14 7701 Okanagan Landing Road
4211 25 Avenue
Fully renovated 2 bedroom waterfront townhouse on Okanagan Lake. Direct views of lake from Kitchen, Dining Room, Living Room and deck. High end stainless appliances, large kitchen island and 5 piece ensuite. 32 ft secure and safe boat slip with power and water. Nice little sandy beach for kids to play on. Close to Paddlewheel park, boat launch, and Predator Ridge.
A well established hardware & building supply business in a high exposure location with easy access front and rear. The premises are leased and are comprised of a 7000 sq ft retail location with mezzanine and five other buildings on a level 2.48 acre site. The retail premises are bright with tall ceilings and a 1900 sq ft mezzanine. The remote office area is 2550 sq ft with ample parking. Three other buildings are arch rafter structures. The price includes equipment, fixtures and leasehold improvements. Inventory extra at cost.
NEW PRICE
Updated rancher with full basement on a large level lot in the B.X. Great family orientated neighbourhood with school bus service, yard is fully fenced and landscaped. 3 bedrooms, updated kitchen, new tile in bathroom and completely repainted. Most windows are newer and the roof is only 7 years old. Basement is ready for your ideas, would make a great media/family room.
$429,000
MLS®:10150249
$529,000
MLS®:10152101
$785,000
MLS®:10151056
8823 Okanagan Landing Road
8506 Kalavista Drive
#1101 7343 Okanagan Landing Rd.
On Okanagan Lake, 10 minutes from downtown Vernon, BC. A spectacular view of one of the widest parts of Okanagan Lake. 80 feet 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.
On Kalamalka Lake in Vernon (Coldstream) BC, a three bedroom lakeshore home on a level 0.33 acre fenced lot with a wharf. Effectively a near new home having been completely rebuilt internally, once in 2000 by Bercum Builders and again in 2011 by Keith Construction. Driveway repaved Oct 2015. Situated on a deep, level lot with nice yard areas and 92 feet of waterfront. The covered lakeview patio has a fireplace, the home features a sauna, a large brick barbecue area and new landscaping. Close to Alexander's Beach Pub, tennis courts, and a children's playground on Kirkland Drive.
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.
$1,040,000
MLS®:10145703
$2,250,000
MLS®:10148685
$849,900
MLS®:10150635
Please visit our newly redesigned website www.silverstarproperites.ca
YOURREALESTATEPAGES.COM | 7
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212 Country Estates Drive, Vernon · 4 Bedrooms + Den · 3.5 Bathrooms · Walking distance to Okanagan College and Rail Trail · Private backyard · Excellent condition MLS New $699,000
LD SO
JANE FIELD
#1 - 6600 Okanagan Ave
Cell 250.938.2830 Office 250.503.3755 Toll Free 1.888.503.3755
· Almost 2000 sq.ft. · 1+2 Bedrooms · 1.5+1 Bathrooms · Choice location in complex · Hardwood & granite · Dynamic mezzanine overlooks great room
Experience
that will move you
SO
jane@vernonrealestate.ca
LD
#3 - 8014 Whitestone Drive, Vernon
Vernon
· 3 bedrooms + den · 3 bathrooms · Open concept · Amazing Kalamalka Lake views
RRS
Registered Relocation Specialist
Thinking of Selling? Call me for a FREE market evaluation* *Some restrictions apply
5603 - 27th Street Vernon, BC V1T 8Z5
250.938.2830
e-Editions available online YourRealEstatePages.com
@REPVernon
Vernon Real Estate Pages
8
250.309.0039 chris@chrisholm.ca
Brenda Ellis
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REALTOR®
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250.549.0023
250.309.9969
250.308.4310
REALTOR®
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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.
Vernon
View our listings + 100's more at ChrisHolmRealEstate.ca
New Listing
#6 - 40 Kestrel Place, Vernon
$974,900
· 3 bedroom, 2.5 bathroom · View of Okanagan Lake · Desireable Kestrel Estates semi-waterfront gated community with a neighbourhood beach and boat launch. MLS 10150176 454 Longspoon Place, Vernon · Beautifully finished, fully furnished 3534 sq ft home · 4 bedroom, 4 bathroom · View of Okanagan Lake · Enjoy Predator Ridge resort style living with all the amenities.
$1,250,000
MLS 10147857 258 Dormie Place, Vernon · Meticulously maintained home in popular Dormie Hills. · 3 bedroom, 3 bathroom · Stunning mountain views. · Enjoy Predator Ridge resort style living with all the amenities.
$874,900
MLS 10152684
Teresa Prince C: 250-938-1753 O: 250-549-4161 www.TeresaPrince.ca
The sign you want The Agent you need. TheRightAgents.com
@RightAgents
TheRightAgents
YOURREALESTATEPAGES.COM | 9
Susan Olney Administrative Coordinator Steve Wikkerink REALTOR® Heidi Lussi PREC Beate Schmidt REALTOR®
We are NEVER too busy for your referrals
The
Heidi Lussi Real Estate Team
Vernon
www.heidilussi.com | 250-503-3487 | info@heidilussi.com #117- 3700 28A Street
1910 46th Avenue
$153,750 Attractive Mountainview Apartment building. Buy as an investment, holiday home or main residence. 2 bedroom, 1 bath main floor unit with new paint and flooring. Outdoor sitting areas and lawn space. Fridge, stove included.
New
MLS®10150357
4315 Highland Park Rd.
6305 Apple Lane
$575,000
$395,000 Charming and completely renovated character home just blocks from Elementary school. 3 bedrooms plus a den. Master with Ensuite and walk in closet. This home has been extensively renovated from top to bottom. The list is endless. Priced to sell so act quickly! MLS®10152683
Enjoy your own little Hobby Farm. Cute 2 & 2 bedrooms, 2.5 baths rancher with walk out basement on 1.4 acres fenced property. Recently renovated with beautiful new features such as modern style kitchen, high end tile flooring, hardwood etc. Only minutes from Armstrong in beautiful rural & private setting.
$1,495,000 7.99 acre in the ALR – CR Zoning. A variety of nut, cherry & apple trees. A prime location in the North BX, great views with a 2 story custom built home & oversized workshop with 3Ph. MLS®10134165
MLS®10147875
385 Monashee Rd., Silver Star
00
0,0
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$
Home & Travel
Auto & RV
All Insurance Services We provide protection options as unique as you are.
#1- 495 Monashee Rd., Silver Star
0
,00
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Business & Farm
Beautifully updated 4 bedroom mountain home. Ready for your family or investment. *Powder Peak* enjoys excellent ski in/out due to its central location. Full of light and tasteful finishing - this home will impress you as soon as you enter the roomy & bright mudroom w/ storage for all the gear. MLS®10147855
Spacious timber inspired 2 bdrm winter retreat located on The Knoll, across from the skiway. Cozy finishings feature rustic wood paneling, river rock fireplace with fir mantle, 9 foot ceilings, large windows & private hot tub. Master bedroom has a large 2 piece ensuite. Bunkroom is oversized offering a great space for kids or extra guests. MLS®10151010
#1- 870 Monashee Rd., Silver Star
d ce du ,900 e R 9
Stunning views of Attridge & flooded w/ natural daylight sets this unique suite from the rest. Big, beautiful windows and a well laid out floorplan offers a very comfortable winter getaway. 1 bedroom + den That could be converted to a 2nd bedroom. Cozy gas fireplace. 6 person hot tub. No GST. MLS®10147684
9
$2
250-545-5311 www.jmins.com
Kathy Broderick 3923 32 St. Vernon, BC V1T 5P2 Monday thru Friday: 7:30-5:30, Saturday: 9:00-5:00
RE/MAX Vernon
250.309.1167
Personal Real Estate Corporation www.broderickrealestate.ca
10
11 Lakeshore Drive
259 Grouse Avenue NE
$225,000
Lease paid until 2043
Dawn Taylor Personal Real Estate Corporation
DawnTaylor.ca 250-309-4092
$379,000
Brand New Rancher
21.37 acre property, 15 minute drive to downtown Falkland. 16 x 24 workshop/storage area.
562 Meadowlark Ave
241 Grouse Avenue
326 Mountain Drive
$413,000
Short Walk from Beach
2 bdrm, 2 bath rancher. Extra large lot w/ parking, Single car gargage. Open plan, Oak Kitchen
378 Lakewood Road
$65,000
Westshore Estates. Water power at the lot line. No time frame in which to build.
$398,888
0.59 acre Treed Building Lot
0000 Highway 97 Vernon
10271 Columbia Way
3 beds, 2 baths, huge open plan Westshore Estates. Gentle slope main living area. 5 minute walk from the road. Zoned R1. Minutes away from beach & boat launch. away from Okanagan Lake
$259,900
5.19 acre property at the South end of Vernon at the Kekuli Bay Turnoff. Zoned LH.
194 Falcon Ave
$75,000
Gorgeous 2016 Rancher
Beautiful Kalamalka Lakeview
GIVE ME A CALL, LETS CHAT!
$415,000
Quiet Private Acreage
2 bedrooms + den and a bonus room above the garage. Open plan, covered patio. Parker Cove.
e siv clu x E
LOOKING TO BUY OR SELL?
W
2 beds, 1 bath modular in Parker Cove. Across from the beach on Okanagan Lake
0.60 Acre Building Lot
Vernon
6739 Karjula Road
$159,900
View of Okanagan Lake
3 bedrs, 1 bath, 2 minute walk from the beach & boat launch. Room to park a boat or an RV
6628 Pleasant Valley Rd.
$75,000
Westshores Estates
0.41 acre building lot, Lake access only minutes away. Suitable for a level entry home.
$1,700,000
Beautiful Lakeview Lot 9.86 acre property. Mixed zoning of Country Residential and C4 (service commercial)
The sign you want The Agent you need. TheRightAgents.com
INC
SilverStarMedia.ca  250.545.8858
The Real Estate Pages is published by Silver Star Media Inc., 3118 32nd Ave, Vernon, BC V1T 2L9. Reproduction of any photographs, artwork or copy is strictly prohibited without prior written consent of the publisher. All advertised properties are subject to prior sale or withdrawal without notice. Neither The Real Estate Pages nor Silver Star Media Inc are a registered real estate broker and this magazine offer is not an effort to assist in the buying or selling of real estate. The advertisers and publisher are not responsible or liable for misinformation, misprints or typographic errors.
@RightAgents
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YOURREALESTATEPAGES.COM | 11
Coldstream
Vernon
11313 Tassie Drive
1801 Pottery Road
MLS® New
Wonderful location for a growing family. Walking distance to Elementary & High school.
www.your5starteam.com MLS® 10152446
Newly Offered at $529,000
Newly Offered at $448,000
This 4-bedroom home is located only a block from Vernon Secondary School and just minutes from Downtown. This property is perfect for the first-time buyer looking for a mortage helper or th family who needs the extra in-law suite. There are two bedrooms on the main with two bedrooms on the lower level complete with a full summer kitchen and separate entrance.
Cliff Wenger REALTOR®
P. 250.549.4161 C. 250.309.0289 TF. 1.800.667.2040 cliff@your5starteam.com
Tammy Stein REALTOR®
P. 250.549.4161 C. 250.306.9974 TF. 1.800.667.2040 tammy@your5starteam.com
Vernon
Lumby
Each office is independently owned and operated
0
,90
74
$3
00 0,0 ,35 1 $
Your Ad Here 250.545.8858
www.YourRealEstatePages.com Vernon Real Estate Pages
@REPVernon
00
1,9
8 $3
NEW PRICE - 1606 29 St., Vernon Lovely family home on a large lot in a quiet neighborhood. All the big ticket items have been done for you! 3 bedroom, 2 bathroom home located close to the hospital, a park and walking distance to downtown. 2 legal lots here so plenty of room to build the double garage off the back lane. MLS®10150295
1976 Highway 6, Lumby Beautifully appointed 3 level home, tucked away on 78.76 fenced & sub-irrigated acres. Property is fenced & cross fenced, will support 60 cow/calf pairs, has a solar powered watering bowl for the stock and a new 30 x 62 shop/barn. 3 bdrms, 2 ½ baths, formal dining & living room and finished loft in the attic. Covered deck with hot tub. MLS®10148287
2246 Shuswap Avenue, Lumby Bright 3 bdrm, 1 bath home with a lovely yard. Fenced back yard with room for all your toys. Many upgrades. Superb location within a block of both the Elementary & High schools, the park, swimming pool, and ice rink. property is zoned R2. MLS®10141649
2095 Shuswap Avenue www.lumbyrealestate.net
1 888 547 9266 Toll free 1 250 547 9234 Fax
Darline Scott 250-558-8112
12
The sign you want The Agent you need. 229 Kicking Horse Place, Vernon Modern family home with a fenced back yard backing onto the ravine in the Foothills. Great floor plan with two bedrooms plus an office on the main level. Walk out basement offers a huge family room, two bedrooms and a full bathroom. This move in ready home offers many extras! MLS®10148721
TheRightAgents.com
@RightAgents
$679,900
298 Old Salmon Arm Road, Enderby Immaculate 3 bedroom 2 bathroom home on 2.87 acres on the North side of Enderby. With the flooring, kitchen and bathrooms updated there is nothing to do but unpack. The views off of the generous size deck at the back of the home are amazing, from the landscaped yard to the Enderby cliffs! MLS®10142026
$549,900
We Help Your Business
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YOURREALESTATEPAGES.COM | 13
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9 9, 10
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Downsize and Simplify! - #30 4701 Pleasant Valley Road Live in a beautiful, quiet, 55 plus, Manufactured Home Park. Cozy and fully updated 1975, 12 x 68 foot, 2 bdrm, 1 bath, home with additional workshop and detached garage. Room to park all your toys, pad rent $520 per month includes all water, sewer, and land taxes. Great location in Harwood, near Butcher Boys and bus, 22 km to Silver Star. MLS 10150842
Maria Besso (250) 308-1152 | mariabesso@shaw.ca | www.mariabesso.remax.ca
Vernon
e-Editions available online YourRealEstatePages.com
@REPVernon
Deb
Kate
Judy
REALTOR®
REALTOR®
REALTOR®
Deveau
Kessler
into t ING SPR Marke e th
Fischer
Your Key to the North Okanagan
Lots ding Buil
$159,000
cres 24 A
Listings Required Call The Key Team Today!
$459,000 410 Hidden Lake Road, Enderby Call Deb & Judy @ The Key Team - MLS10140448
Bonita
1-888-609-7764 250-838-0025
Lundquist* Enderby
REALTOR®
908 George St. Enderby, BC
*Personal Real Estate Corporation
611 Mill Ave, enderby
al Rur ile Mob
Lot 9 - 265 Terry Road, Enderby Call Deb & Judy @ The Key Team - MLS10139041
Buyers are Active Now!
Vernon Real Estate Pages
Development Potential!
$109,900 #5-5581 Mellor Frontage Road Call Deb & Judy @ The Key Team - MLS10152220 s Lot ding e Buil vailabl A
$129,000-136,000 Preston West Subdivision Lots 1, 5, 6 & 10 - Call Deb & Judy @ The Key Team
Three PIDs on 1/3 acre level lot. R3 zoning allows for apartment, multifamily, row housing. Central location. Walk to shopping, restaurants, minutes to the Shuswap Riverwalk. Quaint 2 bed, 1 bathroom home.
Develo pmen & Zonint Potential g R3
MlS: 10152474
$359,000
Call Bonita to schedule your viewing
Enderby EnderbyRealEstate.com
Bonita Lundquist PREC* Realtor® 250-838-0025 • Cell: 250-306-8184 908 George Street • Enderby
BCREA HOUSING FORECAST UPDATE BCREA HOUSING FORECAST UPDATE
February 20172017 February
14
HoH u so iunsgi nFgo rFeocr ae sc ta sStu m r ya r—y F—i r Fs itr sQtu Q a rutaerrt e r S ummam Unit Sales Unit Sales
® ($) Average MLS®MLS Price Average Price ($) 2016 2016 2017F2017F 2018F2018F 2016 2016 2017F2017F 2018F2018F BoardBoard Area Area 10,028 9,2509,250 8,5008,500 585,745 10,028 585,745 599,000 599,000 608,000 608,000 Victoria Victoria 27.5%27.5% -7.8%-7.8% -8.1%-8.1% 12.3%12.3% 2.3% 2.3% 1.5% 1.5% 10,532 9,4009,400 8,7508,750 $383,192 10,532 $383,192 $396,000 $396,000 $402,000 $402,000 Vancouver Island Vancouver Island For immediate release: 26.6%26.6% -10.7% -6.9%-6.9% 12.8%12.8% 3.3% 3.3% 1.5% 1.5% -10.7% 417 417 390 390 345 345 $284,471 $284,471 $288,000 $288,000 $291,000 $291,000 Powell RiverRiver Sunshine CoastCoast Powell Sunshine or immediate release: For immediate release: 9.4% 9.4% -6.5%-6.5% -11.5% 15.3%15.3% 1.2% 1.2% 1% 1% -11.5% For Immediate Release 40,880 34,000 35,750 40,880 34,000 35,750 1,017,228 1,017,228 942,000 942,000 963,000 963,000 Greater Vancouver Greater Vancouver -5.2%-5.2% -16.8% 5.1% 5.1% 12.7%12.7% -7.4%-7.4% 2.2% 2.2% -16.8% Vancouver, BC Needs – February 27, 2018. The BCREA Leading Indicator (CLI) increased for the 23,086 18,900 $676,946 $657,000 $668,000 Government Transitional Rules All Commercial Transactions Impacted By Taxes Introduced Budget 23,086For 19,700 19,700 18,900 $676,946 $657,000 In $668,000 FraserFraser ValleyValley 15.1% -14.7% -4.1% 17.2% -2.9% 1.7% fourth consecutive year, rising 0.4 points in the fourth quarter of 2017 to 135.7. That increase 15.1% -14.7% -4.1% 17.2% -2.9% 1.7% 2018 ancouver, BC – February 27, 2018. The BCREA Leading Indicator (CLI) increased for (CLI) the increased for Vancouver, BC – February 27,Commercial 2018. The BCREA Commercial Leading Indicator the 4,3064,306 3,4003,400 3,1003,100 $397,911 $397,911 $416,000 $416,000 $428,000 $428,000 represents a 0.3 per cent rise over and District Chilliwack andpoints District urth consecutiveChilliwack year, rising 0.4 in rising the fourth quarter of-21% 2017 to quarter 135.7. increase fourth consecutive year, 0.4 points fourth of 2017 to 135.7. increase 37.2% -8.8%That 18.4% 4.5% 2.9% 2.9% 37.2% in the -21% -8.8% 18.4% That 4.5% New taxes unlikely to stabilize housing market the second quarter and a 6.7 per 3,181 2,870 2,700 345,528 355,000 362,000 3,181 2,870 2,700 345,528 355,000 362,000 presents a 0.3 per cent rise represents aDistrict 0.3 District per cent rise over Kamloops andover -5.9%-5.9% 5.9% 5.9% 2.7% 2.7% 2% 2% centKamloops increaseand from one year ago.23.6%23.6% -9.8%-9.8% e second quarterthe andsecond a 6.7BCper quarter and 20, a 6.7 per10,036 Victoria, – February 2018. The British 8,400 Columbia Estate calls on$468,000 government to 8,600 $461,791 $468,000 $476,000 10,036 8,400 Real 8,600 Association $461,791 $476,000 Okanagan Mainline Okanagan Mainline nt increase from“The one increase year ago. cent fromcontinued onerules yearfor ago. introduce transitional transactions impacted the2.4% new tax measures introduced in1.7% Budget 25.6% -16.3% 2.4% 13.1% 1.3% 1.3% 25.6% -16.3% by 13.1% 1.7% BC economy to all 2,459 2,050 1,975 $364,295 $351,000 $356,000 2018. The new tax measures come into effect on February 21, 2018. The Property Transfer Tax (PTT) 2,459 2,050 1,975 $364,295 $351,000 $356,000 thrive in the fourth quarter of South Okanagan* South Okanagan* 21.6% -3.7% -3.6%-3.6%of the 1.4% 1.4% he BC economy continued “The BCsays economy -16.6%as the -3.7% to11.3% 11.3% increase toto5% for continued properties over $321.6% million,-16.6% as well increase 20% and expansion 2017,” BCREA Economistto 260 260 285 285 325 325 $233,363 $243,000 $248,000 $233,363 $243,000 rive in the fourthBrendon quarter of thrive in the fourth quarter of Foreign Buyer’s Tax to “Increased other parts of the province will have an immediate impact on transactions $248,000 Northern LightsLights Northern Ogmundson. -16.7% 9.6% 9.6% 14% 14% -13.4% 4.1% 4.1% 2.1% 2.1% -16.7% -13.4% 017,” says BCREAactivity Economist 2017,” says BCREA Economist underway. in key commercial real 2,9552,955 2,5002,500 2,5752,575 $282,758 $286,000 $291,000 $282,758 $286,000 $291,000 Kootenay endon Ogmundson. “Increased Brendon Ogmundson. “Increased Kootenay estate sectors contributed to a 18.2%18.2% -15.4%-15.4% 3% 3% 2.7% 2.7% 1.1% 1.1% 1.7% 1.7% tivity in key commercial real activity in key commercial When the Foreign Buyer’s Tax was introduced in 2016, REALTORS® were frustrated by 4,069 4,100 4,2504,250 and $263,703 $269,000 fourth consecutive year of real a rising 4,069 4,100 consumers $263,703 $265,000 $265,000 $269,000 BC Northern BC Northern tate sectors contributed to a estate sectors contributed to a -3.4% 0.8% 3.7% -0.4% 0.5% 1.5% the number of collapsed deals due to how the tax was introduced. At the time, the Association called for -3.4% 0.8% 3.7% -0.4% 0.5% 1.5% CLI, mirroring the last four years of urth consecutiverobust year of a rising fourth consecutive year of a rising 112,209 96,345 95,770 691,144 657,026 666,657 112,209 96,345 95,770 691,144 657,026 666,657 grandfathering ofgrowth.” transactions underway to ensure a smooth transition. While the province has economic BC Total BC Total 9.5% -14.1% -0.6% 8.6% -4.9%of 9.5% -14.1% -0.6% Tax -4.9% LI, mirroring the last four years of last rules CLI, mirroring the four years ofexpansion indicated transitional for the of the Foreign Buyer’s to 8.6% other parts BC, the1.5% 1.5%
Commercial Leading Indicator Signals Growth in 2018 ommercialCommercial Leading Indicator Growth in 2018 LeadingSignals Indicator Signals Growth in 2018
NOTE: The Northern Lights Lights Real Estate (NLREB) became part ofpart the South Real Estate Board (SOREB) on January 1, 2011.1, 2011. NOTE: The Northern Real Estate Board (NLREB) became of the Okanagan South Okanagan Real Estate Board (SOREB) on January bust economic growth.” robust economic Association believes thisBoard should The underlying CLIgrowth.” trend, which apply to all transactions. *Excluding Northern Lights Lights *Excluding Northern
smooths often noisy economic he underlying CLI data, trend, which concern, The underlying CLI trend, which Of additional the “speculation” tax introduced in the budget willBritish affect British Columbians who continues to push higher due to strong economic and affecting employment growth. That BCREABCREA Economics provides timelytimely research, analysis and information on economic factorsfactors affecting Columbia and itsand housing markets. Economics provides research, analysis andprovincial information on economic British Columbia its housing markets. mooths often noisy economic smooths often noisy economic own or want to invest in those markets by buying a second home or recreational property. uptrend signals further growth in investment, leasing and other commercial real estate activity over the ata, continues to next push higher dueto to strong provincial and employment That data, continues push higher due(BCREA) toeconomic strong provincial economicgrowth. and employment growth. That The British Columbia Real Estate Association is the is the two to four quarters. The British Columbia Real Estate Association (BCREA) Send questions and comments aboutabout Housing Forecast to: to: Send questions and comments the Housing Forecast ptrend signals further growth in association investment, leasing and real estate activityofreal over the theactivity uptrend signals further growth in investment, other commercial estate over ® commercial ® The Association welcomes measures in other Budget 2018 toand increase the supply affordable housing in the inleasing BC, professional association for more than 20,000 REALTORS in BC, professional for more than 20,000 REALTORS Cameron Muir, Chief Cameron Muir, Economist, Chief Economist, -30ext two to four quarters. next two four quarters. focusing onto provincial issuesissues that impact realare estate. Working with British Columbia. These initiatives important steps focusing on provincial that impact real estate. Working within supporting those who need the most cmuir@bcrea.bc.ca; 604.742.2780 cmuir@bcrea.bc.ca; 604.742.2780 the province’s 11find real11estate boards, BCREA provides continuing the province’s real estate boards, BCREA provides continuing assistance and afford housing. However, the-30government missed the opportunity to help home To view thetofull BCREA Commercial Leading Indicator index,Brendon click here. -30Ogmundson, Economist, Brendon Ogmundson, professional education, advocacy, economic research and thresholds professional education, advocacy, economic research and buyers across the province by increasing the to bogmundson@bcrea.bc.ca; the Property TransferEconomist, Tax (PTT) or index 604.742.2796 bogmundson@bcrea.bc.ca; 604.742.2796 ® ® provide value for their clients. standard forms to help REALTORS provide value for their clients. standard forms to help REALTORS o view the full BCREA Commercial Leading Indicator index, click here. To view the full BCREA Commercial Leading Indicator index, click here. those thresholds to reflect the changing real estate market. For more information, please contact: Additional economics information is available on on Additional economics information is available Brendon Ogmundson To demonstrate the profession’s commitment to improving Quality To demonstrate the profession’s commitment to improving Quality BCREA’s website at: www.bcrea.bc.ca. or more information, please contact: For more information, please contact: BCREA’s website at: www.bcrea.bc.ca. The new measures introduced by the government to “stabilize the housing market” are unlikely to Economist of Life BCtax communities, BCREA supports policies that help ofinLife in BC communities, BCREA supports policies that help endon Ogmundson Brendon Ogmundson ensure economic vitality, provide housing opportunities, preserve achieve the intended objective. The taxes ignore the major culprit – matching and Direct: 604.742.2796 ensure economic vitality, provide housing opportunities, preserve To sign for BCREA news housing releases bysupply email visit: Toup sign up for BCREA news releases by email visit: onomist Economist the environment, protect property owners and build better www.bcrea.bc.ca/news-and-publications/publications/ the environment, protect property owners and build better demand within a reasonable timeframe. Additional taxes, whether targeted at foreign buyers or Mobile: 604.505.6793 www.bcrea.bc.ca/news-and-publications/publications/ rect: 604.742.2796 Direct: 604.742.2796 manage-subscriptions. communities with andthe safe neighbourhoods. manage-subscriptions. communities with good schools and safebetween neighbourhoods. speculators, dogood notschools reduce gap when a housing project starts and is available to purchase. Email: bogmundson@bcrea.bc.ca obile: 604.505.6793 Mobile: 604.505.6793 mail: bogmundson@bcrea.bc.ca Email: bogmundson@bcrea.bc.ca – 30is– the professional association for about 22,000 The British Columbia Real Estate Association (BCREA) Housing Forecast is published quarterly by the on British Columbia Real Estate Real estate boards, real estate associations and REALTORS may reprint this content, REALTORS® in isBC, focusing provincial issues that impact with province’s 11 Housing Forecast published quarterly by the British Columbia Real Association. Estate Association. Realreal estate estate. boards, realWorking estate associations andthe REALTORS may reprint this content, provided thatEstate credit is Association given BCREA byEstate including the following statement: “Copyright Columbia Real association Estate Association. Reprinted with permission.” provided that credit is to given to BCREA by including the following statement: “Copyright British Columbia Real Estate Association. Reprinted with permission.” he British Columbia (BCREA) iscontinuing the professional association for about 22,000 TheReal British Columbia Real Association (BCREA) is theBritish professional for about 22,000 real estate boards, BCREA provides professional education, advocacy, economic research and makes makes no guarantees as to the accuracy or completeness of this information. BCREA no guarantees asissues to the accuracy orimpact completeness of this information. 2 2 EALTORS® in BC,BCREA focusing on provincial that real estate. Working with the province’s 11 REALTORS® in BC, focusing on provincial issues that impact real estate. Working with the province’s 11 BCREA is the professional association for over 22,000 REALTORS® in BC, focusing on provincial issues standard forms to help REALTORS® provide value for their clients. 1420 - 1420 701 Georgia Street West,estate. PO BoxPO 10123, Pacific Centre, Vancouver, BCprofessional V7YBC 1C6 Phone: 604.683.7702 | research Fax: | Email: bcrea@bcrea.bc.ca al estate boards, BCREA provides continuing professional advocacy, economic and real boards, BCREA continuing advocacy, research and - estate 701 Georgia Street West, Boxprovides 10123, Pacific Centre, Vancouver, V7Y | education, Phone: 604.683.7702 | 604.683.8601 Fax: economic 604.683.8601 | Email: bcrea@bcrea.bc.ca that impact real Working with theeducation, province's 11|1C6 real estate boards, BCREA provides continuing andard forms to help REALTORS® value for economic their clients. standard forms toprovide help REALTORS® provide value for their clients. forms to help REALTORS® provide professional education, advocacy, research and standard value for their clients. ®
®
1420 – 701 Georgia Street W, PO Box 10123, Pacific Centre, Vancouver, BC V7Y 1C6 1420 – 701 Georgia Street W, PO Box 10123, Pacific Centre, Vancouver, BC V7Y 1C6 President Jim Stewart | President-Elect James Palanio | bcrea@bcrea.bc.ca | 604.683.7702 (tel) 20 – 701 Georgia Street PO Horn Box 10123, Centre, Vancouver, V7Y 1C6 | BC 1420 – 701 Georgia Street W,Pacific PO Box 10123, Pacific Centre, Vancouver, V7Y 1C6 604.683.7702 (tel) President JimW, Stewart President-Elect James Palanio bcrea@bcrea.bc.ca CEO Damian Stathonikos www.bcrea.bc.ca 604.683.8601 Past President Deanna | Interim | BC (fax)
Past President Deanna Horn | Chief Executive Officer Darlene K. Hyde| www.bcrea.bc.ca sident Jim Stewart President| Jim President-Elect James bcrea@bcrea.bc.ca | 604.683.7702 (tel) Stewart | Palanio President-Elect | James Palanio bcrea@bcrea.bc.ca
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