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 & more. Call 250-549-4161 or visit www.DonKassa.com

Issue 33 â&#x20AC;˘ Apr 22 - May 5, 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*

Corinne Reynolds

RE/MAX Vernon

RE/MAX Enderby

RE/MAX Lumby

RE/MAX Vernon

Heather Paulsen RE/MAX Priscilla

Jen Sellar

RE/MAX Vernon

Armstrong

RE/MAX Vernon

RE/MAX Enderby

Joe Pearson RE/MAX Vernon

RE/MAX Vernon

Commercial Solutions

2555 Pleasant ValleyBlvd 5405 26 Street Armstrong, BC V0E1B0 Vernon, BC V1T 7G4 250.546.3119 250.503.3477

Enderby

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

RE/MAX Priscilla

Lumby

Vernon

RE/MAX Vernon

Pratab Sidhu RE/MAX Vernon

RE/MAX Vernon

RE/MAX Enderby

RE/MAX Vernon

RE/MAX Commercial Solutions

RE/MAX Vernon

Shawna Sidhu* RE/MAX Vernon

Krista Blankley* Shelby Bouchard RE/MAX Vernon

RE/MAX Vernon

Sandra Bradley* RE/MAX Vernon

RE/MAX Priscilla

RE/MAX Vernon

RE/MAX Lumby

RE/MAX Vernon

Priscilla Sookarow Cheryl Soleway RE/MAX Priscilla

RE/MAX Vernon

Tammy Stein

Charlie Veaudry*

Alex Wambold

Rob Wasiliew

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

Norm Brenner* RE/MAX Vernon

Stefe Brenner RE/MAX Vernon

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:

RE/MAX Vernon

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Tannis C. Lavik V. Charlette Lavik RE/MAX Armstrong

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Lisa Salt*

Chris Santos

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Brent Stevenson RE/MAX Vernon

RE/MAX Vernon

Alan Stier

RE/MAX Priscilla

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Joanne Pappin Rachel Pasemko-Almaas* RE/MAX Vernon

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Beate Schmidt

Darline Scott

RE/MAX Vernon

Dawn Taylor* RE/MAX Vernon

RE/MAX Lumby

Avrill Trach 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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Kari Wilton RE/MAX Vernon

*Not intended to solicit properties already listed for sale.

Each office independently owned and operated.

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

www.heidilussi.com | 250-503-3487 | info@heidilussi.com 78 Peregrine Way

67 Shuswap River Road

$119,900 Excellent value in this lake view lot. Ideal Lot for a grade level entry home. No time limit to build; services available. NO GST.

New

205 Hwy 97S

$1,350,000

$839,500 Hybrid Timber Frame Home nestled amongst trees. 3 bedrooms, 3 bath, open design, 2 fireplaces, great heating system. 19.74 acres, approx. ½ fairly level with gentle slopes, pond, parklike setting, rail fencing & concrete foundation for a guest house. Access Shuswap River right across the street. Bring your family, animals & toys. MLS®10150536

MLS®10155434

4590 Chamberlaine Road

An unsurpassed True Million Dollar View! This log built post & beam home is perched above it all! Nestled on nearly 10 acres between thousands of acres of Crown Land on Rose Swanson Mountain in Armstrong. A full guest suite above the attached triple garage/shop. Soaring vaulted ceilings with 52ft log spans in the great room of the home. A picturesque setting for this stunning home & property. MLS®10152103

$1,950,000 Kal Lake Country Estate with incredible lake & mountain views. 9.12 acres, gently rolling, custom quality home, triple car garage. Detached 27’x60’ shop, animal shelters, fully fenced and cross fenced. Ideal location between Vernon and Lake Country. MLS®10145617

e-Editions available online YourRealEstatePages.com

Vernon

@REPVernon

Vernon Real Estate Pages

YOURREALESTATEPAGES.COM | 5

Swan Brook

Okanagan Landing

Bright, spacious, 2 bed, 2 bath. Large master bedroom w/ensuite, walk-in closet.

Great Cul-de-Sac location. Upgraded kitchen & extra dining area. Large master with en-suite.

#104 - 2806 35 Street

#215A - 6710 Tronson Road

www.your5starteam.com MLS速 10155191

Newly Offered at $234,900

MLS速 10154871

Newly Offered at $224,900

Cliff Wenger REALTOR速

P. 250.549.4161 C. 250.309.0289 TF. 1.800.667.2040 cliff@your5starteam.com

Tammy Stein REALTOR速

P. 250.549.4161 C. 250.306.9974 TF. 1.800.667.2040 tammy@your5starteam.com

Vernon

Business & Farm

Home & Travel

Auto & RV

All Insurance Services We provide protection options as unique as you are.

Your Ad Here 250.545.8858

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

www.YourRealEstatePages.com Vernon Real Estate Pages

@REPVernon

6 2017 Mountain View Ave, Lumby

The sign you want The Agent you need. MLS 10152902

$519,000

1846 Grandview Ave, Lumby

Chrysta Cleverley Personal Real Estate Corporation

MLS 10152488

TheRightAgents.com

@RightAgents

TheRightAgents

$383,000

1011 Foothills Court, Vernon

250-309-1296 chrystacleverley@remax.net MLS 10152117

$699,900

2057 Park Avenue, Lumby NEW

Vernon

MLS 10154763

$99,999

Your Ad Here 250.545.8858

www.YourRealEstatePages.com Vernon Real Estate Pages

@REPVernon

INC

SilverStarMedia.caâ&#x20AC;&#x192; 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.

YOURREALESTATEPAGES.COM | 7

250.309.0039 chris@chrisholm.ca

Shelby Bouchard

Brenda Ellis

REALTOR®

Diane Callbeck Client Care

Yania Greenaway Admin Assistant

Kendra Scarrott Admin Assistant

250.549.0023

250.309.9969

250.308.4310

(unlicensed)

Brent Stevenson

$509,900

2385 Dallas Road

$289,900

5091 - 20th Avenue SE

$1,550,000

1,970 sq. ft. 4 bed 2.5 bath Rancher with basement on a friendly cul-de-sac. Kitchen features island with breakfast bar, pantry, and access to sundeck. Finished basement offers 2 additional bedrooms, bathroom, family room, & laundry. Modern convenience and comfort with maple hardwood floors, A/C, washer/dryer hookups on both levels, & lots of storage space. Landscaped back yard with pergola provides a peaceful sanctuary. MLS#10155163

AR N O M SA L

ST R

VE RN O N

#6 - 3535 Wood Avenue

1,068 sq.ft. 2 bed + den, 1 bath mobile home on a 0.3 acre lot in a quiet cul-de-sac. Spacious, open concept kitchen & living room with WETT certified wood stove & access to covered patio and back yard. Additional structures include powered shop & covered equipment bay for all your toys. Large, fully fenced yard offers a peaceful, private space for outdoor enjoyment. Minutes from the lake, parks, restaurants, and downtown Vernon. MLS#10155551

Beautifully unique 10,187 sq. ft. 6 guest room Bed & Breakfast with 3,457 sq. ft. 4 bed, 3 bath private residence attached. Owner residence features a gourmet kitchen with S/S appliances & island, plus dining area, living room, & private sundeck. Attached garages offer ample covered parking plus storage & workshop space. Move right in to a pleasant and delightful lifestyle, with a successful, awardwinning business ready to go! MLS#10154946

WE HAVE BUYERS READY TO PURCHASE If your home matches any of these, contact us! Buyer 1

Buyer 2

Buyer 3

Buyer 4

Buyer 5

Buyer 6

Serene country home on treed property, 2+ beds. Price up to $450,000

Armstrong Newer home with small acreage. Price up to $1,000,000

Armstrong/Enderby House w/ small acreage & suite potential. Price up to $550,000

Armstrong Starter home. Price up to $380,000

Vernon Pref. rural, 4+ bed w/ suite or suite potential. Price up to $450,000

Armstrong (Vernon possible) 3 bdrm Rancher w/walkout bsmnt. Price up to $750,000

Vernon

ChrisHolmRealEstate.ca

Your Ad Here 250.545.8858 www.YourRealEstatePages.com Vernon Real Estate Pages

@REPVernon

O: 250-549-4161 C: 250-938-2604 doncowan@remax.net

Custom designed home on 20.63 forested acres

Don Cowan

$645,000

MLS 10149988 ®

Your own pond and trails to explore the fantastic views of the valley below. 3 bedrooms, 2 bathrooms 2 living/family rooms 2 covered decks

Vernon

249 Country Estate Drive, Vernon r de t Un en 0 0 em 2,0 ess 3 s $ s A

Located in family friendly park

$114,900

MLS® 10155654

New living room carpet and a brand new front composite deck 2 bedrooms, 1 bathrooms Huge yard waiting for your green thumb

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. MLS®10151049 $549,000

With over 30 years selling Real Estate in Vernon, I know the market.

e-Editions available online YourRealEstatePages.com

@REPVernon

Vernon Real Estate Pages

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

8828 Stonington Road

Vernon

8798 Braeburn Drive

#14 7701 Okanagan Landing Rd.

Brand new 5 bdrm, 4 bath home with a backyard oasis and stunning views of Kalamalka Lake and Kal park. 3490 sq ft with 4 bedrooms up make it great for raising a family. Enjoy the deluxe kitchen while taking in the views or watching the kids play in the pool. The master bedroom features more of the same view, oversized walk in closet with plenty of built in shelving. Media room, great room, laundry, and self contained guest suite round out the lower entry level. 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.

Enjoy easy waterfront living with low strata fees in this 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, new quartz counter tops and 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.

NEW

Great value for this stunning lake view lot, in an area of distinctive homes with lake access. One of the larger lots at .45 acre with unobstructed views of Okanagan Lake. Enjoy private pathways, parkland, forest meadws, beach and dock. Adventure Bay residents enjoy special privileges year round at the seasons club, and recreation facility located just a short drive away.

$249,000

MLS®:10153037

$1,298,000

MLS®:10155055

$529,000

MLS®:10152101

69 Kestrel Place

9269 Highway 6

#11 7373 Brooks Lane

In the City of Vernon at Canadian Lakeview Estates overlooking Okanagan Lake. This is a 1.4 acre parcel zoned R5 to build townhomes. Wonderful lakeviews with just enough slope on the site to get views for all the units to be built. Services nearby, access to the Beach Club and boat launch. Water and sewer available at a cost of $6,000 per unit for water, $7,000 per unit for sewer. There is a pre plan prepared showing possible townhome placement. Preliminary investigations indicate 12 units, made up of six duplex's, can be built there. Subject to your own investigations.

16.15 acres in Coldstream, with lake and valley views. South facing property is gently rolling. This is a fantastic location for a country estate - 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 Highway 6. Access trails through property have been mowed.

IMMEDIATE POSSESSION! Brand new beautiful semi detached home is part of the unique luxury Tuscan Terraces waterfront community only 5 min drive from Downtown Vernon. An incredible waterfront value, built for longevity .1800 sq.ft with 3 bdrms, 2.5 baths, multiple covered decks with great lake view. Garage & parking at the door for an extra vehicle. Located on the upper section of the courtyard offering much privacy and still only few steps away from the community pool and the extensive waterfront green space. Has a private boat slip for easy access to Okanagan Lake. Spacious main floor open concept w/ extensive Maple cabinetry & quartz countertops with an island. Stainless steel appliances.

$539,000

MLS®:10150801

$987,500

MLS®:10154563

$748,000

MLS®:10148416

Please visit our newly redesigned website www.silverstarproperites.ca

10 #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 418 Tyler Place, Vernon

BENNETTO & ASSOCIATES www.bennetto.ca

Murray Bennetto REALTOR®

Vernon

250.306.6476 New Listing

New Listing

· Beautiful home on large lot · 4 bedroom, 4 bathroom · Golf course and mountain view · Enjoy Predator Ridge resort style living with all the amenities. MLS 10154546

$974,900 258 Dormie Place, Vernon Pending

· 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

460 Crestview Drive, Coldstream Spacious 3400 sq ft rancher in popular, quiet neighbourhood in Coldstream Valley Estates. Relaxing views of valley, mountains, Kalamalka Lake & Coldstream Ranch from 130' wraparound covered sundeck & covered lower patio. Very private 1/2 acre, fully landscaped, park-like yard with mature trees, flowers, shrubs, and exposed concrete pathways winding throughout. Heated flooring in ensuite bathrooms.

MLS® 10152792 - $775,000 New Listing

Lot 54 - 9196 Tronson Road, Vernon

Beautiful building lot in Canadian Lakeview Estates. Common beach lake access. Gently sloping lot ideal for rancher complete with walk out day-lite basement. Fantastic views of Okanagan Lake toward Fintry and to Carrs Landing in the distance. Privacy on dead-end road cul-de-sac.

MLS 10152684

Teresa Prince C: 250-938-1753 O: 250-549-4161 www.TeresaPrince.ca

MLS® 10155511 - $287,500

We Help Your Business

INC

SilverStarMedia.ca 250.545.8858

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O ka na ga n

La ke

Vi ew s

7290 Longacre Drive, Vernon · 3 Bdrms, 3 Baths · Very clean 3 level split · In ground swimming pool · Very private backyard, pasture behind. MLS 10154354 $649,900

JANE FIELD Cell 250.938.2830 Office 250.503.3755 Toll Free 1.888.503.3755

W al k

ai lT ra

212 Country Estates Drive, Vernon · 4 Bdrms + Den, 3 Baths · Dramatic 19 foot ceilings in living room · No rear neighbours! Forestry behind. · Meticulous care · View of Silver Star ski hill and surrounding mountains MLS 10152232 $699,000

8007 Kalview Drive, Vernon

jane@vernonrealestate.ca Vernon

· 2+2 bdrms, 2+1 baths · Brand new roof · Brand new hardwood and quartz counters. · Dynamic Kal Lake view

that will move you 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

1977 For more information please visit www.remax.com

Experience

Expanding Over Thousands of Miles The first regional master franchises are sold in the U.S., several of them in the Midwest. In Calgary, Don Fernie purchases the first Canadian franchise.

Vernon

J&J Real Estate Associates

Jayme McKillop

Jen Sellar

250.307.8137 jayme@jjsellrealestate.com

250.309.3439 jen@jjsellrealestate.com

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! $679,900 MLS®10148721

The OAKS Luxury Townhome Development

298 Old Salmon Arm Road, Enderby

Flip the rancher upside down!

J&J Real Estate Associates Presents

LIVING ROOM

MASTER BEDROOM

OPEN TO BELOW

DINING

BATHROOM

W.I.C

DEN

KITCHEN

BATHROOM

Kalamalka

OPEN TO BELOW

GARAGE

3 Bedroom + Den 2.5 Bathrooms Total :

1,994 sq.ft.

Main Floor :

1,035 sq.ft.

Garage :

448 sq.ft.

Second Floor :

959 sq.ft.

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!

Pricing is $429,900 incl. GST!

BEDROOM 2

All measurements are approximate & Should be verified by the buyer.

Main Floor Plan 1,035.5 sq.ft + Garage: 448.8 sq.ft.

Second Floor Plan 959 sq.ft

BEDROOM 3

Master suite and all the living on the main floor with 2 more beds, a full bath + Den upstairs. PLUS a BEAUTIFUL, bright Loft space! · Your choice of 3 fabulous & high quality interior design packages · Oversized double garage · Stainless steel kitchen appliances · A/C

MLS®10142026

CALL/TEXT US TODAY!

6600 Okanagan Avenue

Vernon

e-Editions available online YourRealEstatePages.com

@REPVernon

Vernon Real Estate Pages

$549,900

YOURREALESTATEPAGES.COM | 13

9 9, 42

00 $

Great Family House! 3500 25th Ave, Vernon Sunny south backyard, suite in basement for mortgage helper, Flat .27 Acre RM-1 Zoned Lot has frontage on quiet 24A ave cul de-sac as well as 25th Ave Double detached Garage & Shop. MLS 10151073

9 7, 21

Cheaper than Rent! #111 1047 Middleton Way, Vernon Sunny Corner unit in desirable 1992 built, Middleton Way strata! 2 bedroom 774 sq ft., owner occupied, ground floor with extra windows. Be quick or it will be gone! MLS 10154969

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

Vernon

The sign you want The Agent you need. TheRightAgents @RightAgents TheRightAgents.com

Deb

Kate

Judy

REALTOR®

Deveau

Kessler

Fischer

Your Key to the North Okanagan

s Price Sale Pre-

s View River

$279-289,000

ured facte Manu Hom

$314,900

#15 303 Regent Avenue, Enderby

Call The Key Team at RE/MAX Enderby - MLS10148790

#4 – 67 Mabel Lake Rd, Enderby Call The Key Team at RE/MAX Enderby - MLS10131623

REALTOR®

Enderby

*Personal Real Estate Corporation

900B Belvedere, enderBy $299,000

57 Parsons Road, Enderby Call The Key Team at RE/MAX Enderby - MLS10145876

t e Lo Larg

$83,900

Lundquist*

908 George St. Enderby, BC

uced Red

Brielle View - Units 8, 9, 10 Call The Key Team at RE/MAX Enderby

Bonita

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

“LOOKERS” Hair Salon. Price includes Turn Key business and the Strata Unit. Owner is willing to stay on & work along side a Buyer.

$127,500 #34 - 6588 Hwy 97A, Enderby Call The Key Team at RE/MAX Enderby - MLS10149965

Enderby

EnderbyRealEstate.com

MlS: 10141263

Buy

$149,900

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

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

For immediate release

Unit Sales Unit Sales

® ($) Average MLS®MLS Price Average Price ($) 2016 2016 2017F2017F 2018F2018F 2016 2016 2017F2017F 2018F2018F BoardBoard Area Area For immediate For release immediate release 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 26.6%26.6% -10.7% -6.9%-6.9% 12.8%12.8% 3.3% 3.3% 1.5% 1.5% -10.7% Vancouver, BC – March 14, 2018. The British Columbia345 Real Estate Association (BCREA) $291,000 reports 417 417 390 390 $284,471 For Immediate Release 345 $284,471 $288,000 $288,000 $291,000 Powell River Sunshine Coast Sunshine Coast that aPowell totalRiver of 6,206 residential unit9.4% sales were recorded by the Multiple Listing Service® (MLS®) 9.4% -6.5%-6.5% -11.5% 15.3%15.3% 1.2% 1% 1% -11.5% 1.2% 40,880 34,000 35,750 1,017,228 942,000 across the inTransitional February, aRules 5.7 per cent decrease from the same period last year. The 40,880 34,000 35,750 1,017,228 942,000 963,000 BC –Needs April 12, 2018. The British Columbia Real Estate Association (BCREA) reports Vancouver, BCVancouver, –Greater April 12,province 2018. The British Columbia Real Estate Association (BCREA) reports Government For All Transactions Impacted By Taxes Introduced In963,000 Budget Vancouver Greater Vancouver -5.2% -16.8% 12.7% -7.4%-7.4% year. 2.2% 2.2% -5.2% -16.8% up5.1% 5.1% 12.7%the previous average MLS® residential price in BC was $748,327, 8.8 per cent from that a total of that 7,409a residential unitresidential sales wereunit recorded by the MultiplebyListing Service®Listing (MLS®) total of 7,409 sales were recorded the Multiple Service® (MLS®) 2018 23,086 19,700 18,900 23,086 19,700 18,900 $676,946 $676,946 $657,000 $657,000 $668,000 $668,000 Fraser Valley Total sales dollar volume was $4.64 billion, a 2.6 per cent increase from February 2017.The Fraser Valley across the province acrossinthe March, province a 24.6 in March, per centa15.1% decrease 24.6 per cent from decrease the same from month the last same year. month The last year. -14.7% -4.1% 17.2% -2.9% 1.7% 1.7% 15.1% -14.7% -4.1% 17.2% -2.9% New taxes unlikely to stabilize housing market average MLS® average residential price in BC wasprice $726,930, up 5.3 per centupfrom the cent previous year. MLS® residential in BC4,306 was $726,930, 5.3 per from the$416,000 previous 4,306 3,400 3,100 $397,911 $428,000 3,400 3,100 $397,911 $416,000year. $428,000 Chilliwack and District Chilliwack and District 37.2% -21% -8.8% 18.4% 4.5% 2.9% 2.9% “More stringent mortgage qualification 37.2% -21% -8.8% 18.4% 4.5% Total sales dollar volume wasa$5.39 billion, 20.6 perfrom centMarch decline2017. from March 2017. Total sales dollar volume was $5.39 billion, 20.6 per centa decline 2,700 345,528 362,000 2,870 Real 2,700 Association 345,528 362,000 Victoria, BC District –and February 20, 2018.3,181 The3,181 British 2,870 Columbia Estate calls355,000 on355,000 government to rules for conventional Kamloops and Kamloops District borrowers are 23.6%23.6% -9.8%-9.8% -5.9%-5.9% 5.9% 5.9% 2.7% 2.7% 2% 2% introduce transitional rules for all transactions impacted by the new tax measures introduced in Budget dampening housing mortgage demand in10,036 the “More burdensome “More mortgage burdensome 8,4008,400 8,6008,600 $461,791 10,036 $461,791 $468,000 $468,000 $476,000 $476,000 Okanagan 2018. TheMainline new tax measures come into effect on February2.4% 21, 2018. The Property Transfer Tax (PTT) Okanagan Mainline province,” said Cameron Muir, BCREA -16.3% 13.1%13.1% 1.3% 1.3% 1.7% 1.7% qualifications are having theare having the 25.6% qualifications 25.6% -16.3% 2.4% increase to 5% for“Since properties over $32,459 million,2,050 as well as the increase to 20% and expansion of the $356,000 2,459 1,975 Chief Economist. the curbing new rules 2,050 1,975 $364,295 $364,295 $351,000 $351,000 $356,000 predictable effect ofSouth swiftly curbing predictable effect of swiftly South Okanagan* Okanagan* Foreign Buyer’s Tax to other parts of the province will have an immediate impact on transactions 21.6% -16.6% -3.7%-3.7% 11.3%11.3% -3.6%-3.6% 1.4% 1.4% 21.6% -16.6% camesaid into effect, BC home sales have housing demand,” Cameron housing demand,” said Cameron underway. 260 260 285 285 325 325 $233,363 $233,363 $243,000 $243,000 $248,000 $248,000 Northern Lights fallenEconomist. more than 26Economist. per cent, on a -16.7% 9.6% 9.6% Northern Lights Muir, BCREA Chief “You Muir, BCREA Chief “You -16.7% 14% 14% -13.4% 4.1% 4.1% 2.1% 2.1% -13.4% seasonally adjusted basis.” 2,955 2,500 2,5752,575 and $282,758 $291,000 simply cannot simply pull as cannot much aspull 20Buyer’s per as much aswas 20 per 2,955 2,500 consumers $282,758 $286,000 $286,000 $291,000 When the Foreign Tax introduced in 2016, REALTORS® were frustrated by Kootenay Kootenay 18.2% -15.4% 3% 2.7% 1.1% 1.7% 1.7% 18.2% -15.4% 3% 2.7% 1.1% cent of the purchasing power away cent of the purchasing power away the number of collapsed deals due to how the tax was introduced. At the time, the Association called for 4,0694,069 4,1004,100 4,2504,250 $263,703 $263,703 $265,000 $265,000 $269,000 Previous mortgage policy tightening hasto ensure BC Northern rom conventional mortgage from conventional mortgage grandfathering of transactions underway a smooth transition. While the province has 1.5%$269,000 BC Northern -3.4%-3.4% 0.8% 0.8% 3.7% 3.7% -0.4%-0.4% 0.5% 0.5% 1.5% negatively impacted housing indicated rules afor demand the expansion of the Foreign Buyer’s Tax to691,144 other parts of BC, the 666,657 borrowers andborrowers not createtransitional a not create and 112,209 95,770 657,026 112,209 96,345 96,345 95,770 691,144 657,026 666,657 BC Total BC Total Association believes this should apply to all transactions. for a period four to seven months, 9.5% 9.5% -14.1% -0.6%-0.6% 8.6% 8.6% -4.9%-4.9% 1.5% 1.5% downturn in consumer demand.” downturn in of consumer demand.” -14.1%

New Mortgage Qualification Rules Temper Housing Demand

Policy Induced Policy Demand Induced Slide Demand Does Little Slideto Does Impact Little Supply to Impact Supply

NOTE: The Northern Lights impact Real Estate Board (NLREB) became part ofpart the South Real Estate Board (SOREB) on January 1, 2011.1, 2011. with the largest occurring in became the NOTE: The Northern Lights Real Estate Board (NLREB) of the Okanagan South Okanagan Real Estate Board (SOREB) on January *Excluding Northern Lights Lights *Excluding Northern Of additional concern, the “speculation” tax introduced in the budget will affect British Columbians who third month after implementation. Despite the decline in consumer demand, the supply of homes for sale remains most BClow Despite the decline in consumer demand, the supply of homes forlow saleinremains in most BC own or want to invest in those markets by buying a second home or recreational property. regions. Total active listings on the market are essentially unchanged from March 2017, and are regions. Total active listings on the market are essentially unchanged from March 2017, andmarkets. aremarkets. BCREABCREA Economics provides timelytimely research, analysis and information on economic factorsfactors affecting BritishBritish Columbia and itsand housing Economics provides research, analysis and information on economic affecting Columbia its housing Year-to-date, BC residential sales dollar volume was up 15.9 per cent to $8.47 billion, compared at or near a 12-year low across thelow province. result, home expected at or near a 12-year across As thea province. As aprices result,are home pricesto arecontinue expected to continue The Association welcomes measures in Budget 2018 to increase the supply of affordable housing in with the same period in 2017. Residential unit sales increased 4.1 per cent toabout 11,516 units, The British Columbia Real Estate Association (BCREA) is the an upward trajectory. an upward trajectory. The British Columbia Real Estate Association (BCREA) is the Send questions and comments the Housing Forecast to: to: Send questions and comments about the Housing Forecast British Columbia. These initiatives are important steps in supporting those who need the most in BC, professional association for more than 20,000 REALTORS in BC, professional association more than 20,000 REALTORS while the average MLS®forresidential price was up 11.3 per cent to $735,755. Cameron Muir, Chief Economist, assistance to find issues and afford housing. However, the government missed the opportunity to help home Cameron Muir, Chief Economist, focusing on provincial that impact real estate. Working with with focusing on provincial issues that impact real estate. Working cmuir@bcrea.bc.ca; 604.742.2780 Year-to-date, BC residential sales dollar volume was down 1.7 per cent to1.7 $13.9 Year-to-date, BC residential sales dollar volume was down per billion, cent to 604.742.2780 $13.9 billion, cmuir@bcrea.bc.ca; buyers across the province by increasing the thresholds to the Property Transfer Tax (PTT) or index the province’s 11 real11estate boards, BCREABCREA provides continuing the province’s real estate boards, provides continuing compared withcompared the same period in 2017. Residential unit sales decreased 9.4 per cent to 18,927 with the same period in 2017. Residential unit sales decreased 9.4 per cent to 18,927 Ogmundson, Economist, those thresholds toadvocacy, reflect the changing real market.Brendon Brendon Ogmundson, Economist, professional education, economic research and estate professional education, advocacy, economic research and bogmundson@bcrea.bc.ca; 604.742.2796 bogmundson@bcrea.bc.ca; 604.742.2796 -30units, while theunits, average MLS® residential price wasvalue 8.5 per centupto8.5 $732,243. while the average MLS® residential price was per cent to $732,243. provide value forup their clients. standard forms to help provide for their clients. standard forms toREALTORS help REALTORS ®

The new tax measures introduced by the government to “stabilize the housing market” are unlikely Additional economics information is available on on to Additional economics information is available To demonstrate the profession’s commitment to improving Quality

To demonstrate the profession’s commitment to improving Quality achieve the intended objective. The taxes ignore the majorBCREA’s culprit – matching housing supply and For more information, please contact: website at: www.bcrea.bc.ca. BCREA’s website at: www.bcrea.bc.ca. of LifeofinLife BC in communities, BCREABCREA supports policies that help BC communities, supports policies that help demand within a reasonable timeframe. Additional taxes, whether targeted at foreign buyers or Cameron Muir -30-opportunities, -30ensure economic vitality, provide housing opportunities, preserve ensure economic vitality, provide housing preserve To sign forup BCREA news releases by email email visit: visit: Toup sign for BCREA news releases speculators, doprotect notprotect reduce the owners gap when a housing project starts and is availablebyto purchase. Chief Economist the environment, property owners andbetween build betterbetter www.bcrea.bc.ca/news-and-publications/publications/ the environment, property and build www.bcrea.bc.ca/news-and-publications/publications/ manage-subscriptions. communities with good schools and safe neighbourhoods. manage-subscriptions. communities with good schools andcontact: safe neighbourhoods. Direct: 604.742.2780 For more information, For more please information, contact: please – 30 – Mobile: 778.229.1884 Cameron MuirCameron Muir Email: cmuir@bcrea.bc.ca Chief Economist Chief Economist Housing Forecast is published quarterly by the British Columbia Real Estate Real estate real estate and REALTORS may reprint this content, Housing Forecast is published quarterly by the British Columbia Real Association. Estate Association. Real boards, estate boards, real associations estate associations and REALTORS may reprint this content, Direct: 604.742.2780 Direct: 604.742.2780 BCREA the professional association for over 22,000 REALTORS® inColumbia BC, on provincial issues provided thatiscredit is given BCREA by including the following statement: “Copyright British British Columbia Real focusing Estate Association. Reprinted with permission.” provided that credit is to given to BCREA by including the following statement: “Copyright Real Estate Association. Reprinted with permission.” Mobile: 778.229.1884 Mobile: 778.229.1884 BCREA no guarantees as to the or completeness of thisprovince's information. thatmakes impact real estate. the 11 real estate boards, BCREA provides continuing makes no guarantees asaccuracy toWorking the accuracy orwith completeness of this information. 2 1420 BCREA – 701 Georgia Street W, PO Box 10123, Pacific Centre, Vancouver, BC V7Y 1C6 ®

professional education, advocacy, economic research and standard forms to help REALTORS® provide President Jim Stewart James Palanio | bcrea@bcrea.bc.ca | 604.683.7702 (tel) value for their clients. || President-Elect CEO Darlene K. Hyde | www.bcrea.bc.ca | 604.683.8601 (fax) Past President Deanna Horn

420 – 701 Georgia 1420 –Street 701 Georgia W, PO Street Box 10123, W, PO Pacific Box Centre, 10123, Pacific Vancouver, Centre, BCVancouver, V7Y 1C6 BC V7Y 1C6

1420 – 701 Georgia Street W, PO Box 10123, Pacific Centre, Vancouver, BC V7Y 1C6 President Jim Stewart Past President Deanna Horn

| |

| President-Elect James Palanio Chief Executive Officer Darlene K. Hyde|

bcrea@bcrea.bc.ca www.bcrea.bc.ca

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Vernon

604.683.7702 (tel) *Personal Real Estate Corporation 604.683.8601 (fax)

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