Vernon Real Estate Pages by Silver Star Media

VERNON & AREA

Armstrong Enderby Lumby

This listing is proudly presented by

Don Kassa & Ryan Danchuk

Drop dead gorgeous and thoughtfully finished interior on this like-new Middleton Mountain home with no GST payable. Call 250-549-4161 or visit www.DonKassa.com

Issue 40 â&#x20AC;˘ Aug 10 - Aug 23, 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

Debbie Fisher

Gord Fowler

Jacquie Friesen

Roger Gates

Marty Gilbert*

Kyle Goulet

Chris Holm*

Connor Hutchinson

Kate Kessler

Christie King

Heidi Klein*

John Kristian*

Tracy Lauriente

RE/MAX Vernon

RE/MAX North Valley

RE/MAX Vernon

Don Kassa

RE/MAX Vernon

RE/MAX North Valley

RE/MAX Vernon

RE/MAX North Valley

RE/MAX Vernon

RE/MAX Commercial Solutions

RE/MAX North Valley

RE/MAX Commercial Solutions

Graysen Marsh

Jayme McKillop

Ashley Prenioslo

Teresa Prince

Dave Pusey*

Claire Radford*

Corinne Reynolds

Pratab Sidhu

Shawna Sidhu*

Nick Lutsenko

RE/MAX Vernon

Armstrong

Graeme Magee

RE/MAX Vernon

Ken Magel

RE/MAX Vernon

Priscilla Sookarow Cheryl Soleway RE/MAX Priscilla

Commercial Solutions

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

RE/MAX Vernon

North Valley

Lumby

RE/MAX Vernon

Tammy Stein RE/MAX Vernon

Vernon

Krista Blankley* Landon Bootsma Shelby Bouchard RE/MAX Vernon

RE/MAX Vernon

RE/MAX Priscilla

RE/MAX Vernon

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

Shane McMorran* Robert Moorhouse

RE/MAX Armstrong

Joanne Pappin

RE/MAX Vernon

Lisa Salt*

Chris Santos

Beate Schmidt

Alan Stier

Dawn Taylor*

RE/MAX Vernon

Brent Stevenson RE/MAX Vernon

RE/MAX Vernon

RE/MAX Priscilla

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

Norm Brenner* RE/MAX Vernon

Stefe Brenner RE/MAX Vernon

Kathy Broderick* Chrysta Cleverley*

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

RE/MAX Vernon

facebook.com/TheRightAgents Deb Deveau

RE/MAX North Valley

Brenda Ellis RE/MAX Vernon

Judy Fischer

Jane Field

RE/MAX North Valley

RE/MAX Vernon

@RightAgents TheRightAgents.tumblr.com

Sid Hutchinson RE/MAX Vernon

Karen Jespersen Michelle Johnson RE/MAX Vernon

RE/MAX Commercial Solutions

Bev Jones

RE/MAX Lumby

Lisa Salt

pinterest.com/TheRightAgents youtube.com/TheRightAgents

Barbie LeRoux RE/MAX Vernon

Dan Lochhead RE/MAX Vernon

Rachel Pasemko-Almaas* Heather Paulsen RE/MAX Vernon

Darline Scott RE/MAX Lumby

Avrill Trach RE/MAX Vernon

RE/MAX Priscilla

Jen Sellar

RE/MAX Vernon

Charlie Veaudry* RE/MAX Vernon

Bonita Lundquist* RE/MAX North Valley

Joe Pearson

Heidi Lussi* RE/MAX Vernon

Stewart Pearson*

RE/MAX Vernon

RE/MAX Commercial Solutions

Carol Shalovelo*

Rodney Shanks

RE/MAX Vernon

Alex Wambold RE/MAX Vernon

RE/MAX Priscilla

Rob Wasiliew 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

Barb Williamson* RE/MAX Priscilla

Kari Wilton RE/MAX Vernon

*Not intended to solicit properties already listed for sale.

Each office independently owned and operated.

The sign you want The Agent you need.

TheRightAgents @RightAgents TheRightAgents.com

DonKassa

REALTOR ® SERVICES

250.549.4161 www.DonKassa.com donkassa@donkassa.com 8740 Okanagan Landing Road New

#3 7906 Kirkland Drive

Vernon

8066 Beachcomber Bay Road

New Price

An affordable lakeshore opportunity. An older home on the high side of Okanagan Landing Road. The beach area is across the street. The home needs TLC but may work until you build further back with a garage under.

$748,000

MLS®:10165187

Lakeshore townhome on Kalamalka Lake. Great location with a private sandy beach, a large green space and dock. Small, well-maintained strata complex with exterior upgrades in 2012. 2 bedrooms, 1.5 baths. Rentals allowed. Small park nearby.

$728,000

MLS®:10162163

A fun five bedroom family home on exclusive Beachcomber Bay Road. Nicely updated, a generous family room, a large covered patio area, the main floor deck has a fireplace, wet bar, ice machine, wine fridge and speakers. Triple carport, shop.

$1,685,000 MLS®:10139702

9286 Kokanee Road

989 Mt Ida Lane

8506 Kalavista Drive

Country setting, very private 1 acre lot, close to town. 5 bdrms, 4 bths, + den, well maintained. Large covered deck, great view. Bsmt has tons of room & self contained suite. Lots of parking, double garage, unfinished area for media room.

Gorgeous and thoughtfully finished interior on this like-new home with no GST payable. Check out the sweeping views from the large covered deck. 3 bdrms, 3 baths + 1bdrm suite, 3138 sq ft. High end finishings + stainless appliances.

A three bedroom Kalamalka lakeshore home on .33 acres with a wharf and sauna. Essentially a near new home having been completely rebuilt internally. A covered lakeview patio has a fireplace and is a fun family area. A deep, wide level fenced lot.

$699,000

MLS®:10161387

$799,800

MLS®:10161705

$1,794,000 MLS®:10148685

Please visit our website www.DonKassa.com

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

@RightAgents

TheRightAgents

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.

e-Editions available online YourRealEstatePages.com

@REPVernon

Vernon Real Estate Pages

Steve Wikkerink REALTOR®

We are NEVER too busy for your referrals

Heidi Lussi PREC Beate Schmidt REALTOR®

The

Heidi Lussi Real Estate Team

www.heidilussi.com | 250-503-3487 | info@heidilussi.com 1681 Sugar Lake Road

78 Peregrine Way

Vernon

#9 2675 Pine Avenue New

Open House Aug 11-12, Sat. & Sun. 11am – 2pm

Sugar Lake Recreational Properties keeps getting better! OPEN HOUSE, come out and view the resort including the newest addition, the floating dock and boat slips. Lots Starting at $44,500

#34 8859 Adventure Bay Road

Excellent value in this lake view lot. Ideal Lot for a grade level entry home. No time limit to build; services available. NO GST. $119,900 MLS® 10155434

#803 4900 Heritage Drive

Nice 2 bedroom, 2 bathroom rancher located in the desirable complex “The Villas” in Lumby. Enjoy the beautifully maintained parklike landscaping in this 55+ complex. Quick possession, don’t wait! $269,000 MLS®New

4590 Chamberlaine Road

New

Gorgeous 1 bed, 1 bath cottage with incredible Okanagan Lake view. Part of Adventure Bay units with private beach & wharf. Price includes 2 boat buoys. $319,000 MLS®:10160771

Immaculate and well maintained home located in popular Bella Vista's The Rock complex. Close to ALL amenities including shopping, beach, dog park and city bus. A full double tandem garage compliments this home that exudes price of ownership. 3 bedrooms, convenient upper floor laundry, hardwood flooring, and an open and large layout make this home easy to call home.

$340,000 MLS®: 10164690

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.

$1,350,000 MLS®10152103

For ALL listings visit www.heidilussi.com

250.309.0039 chris@chrisholm.ca

REALTOR®

250.309.9969

250.308.4310

REALTOR®

2006 45 Avenue

MLS#10165166 + 10165099

$409,900

$449,900 + GST

(unlicensed)

Kendra Scarrott Admin Assistant

(unlicensed)

4504 McLeery Road

$789,000

New

MLS#10164706

MLS#10165126

1294 Galiano Road

$1,078,000

5370 Bolean Lake Road

$750,000

#1 3535 Wood Avenue

#5 3807 32 Avenue

MLS#10159621

N ST M

New Price

N RO

$499,900 *no GST

$249,900

$725,000

MLS#10161871

MLS#10162761

4972 Schubert Road

N LK FA

MLS#10163258

N O RN

New Price

750 Firwood Road

Yania Greenaway Admin Assistant

(unlicensed)

N RN O

New

AR M ST RO

N G

1 &2 2650 Pleasant Valley Rd. $399,900 + GST

Diane Callbeck Client Care

N G

Shelby Bouchard

250.549.0023

AR M ST RO

Brenda Ellis

Brent Stevenson

New Price

MLS#10156369

MLS#10163118

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

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

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

@REPVernon

YOURREALESTATEPAGES.COM | 9

Vi ew s

7290 Longacre Drive, Vernon

O ka na ga n

La ke

· 3 Bdrms, 3 Baths · Very clean 3 level split · In ground swimming pool · Very private backyard, pasture behind. MLS 10154354 $579,900

Experience

JANE FIELD

that will move you RRS

Cell 250.938.2830 Office 250.503.3755 Toll Free 1.888.503.3755

Registered Relocation Specialist

ox bo

ro u

#101 5501 20 Street, Vernon

jane@vernonrealestate.ca Vernon

· 3 Bdrms, 3 Baths · Desirable Roxborough community · Hardwood flooring · Vaulted ceilings & floor to ceiling living room windows. · Double garage · Fully fenced backyard MLS 10163948 $445,000

Thinking of Selling? Call me for a FREE market evaluation* *Some restrictions apply

5603 - 27th Street Vernon, BC V1T 8Z5

250.938.2830

Buying or Selling,

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

@RightAgents

TheRightAgents

in this market you need an experienced Realtor working for you.

With over experience selling real estate in Vernon, I can help.

Feel free to contact me and we can talk. O: 250-549-4161 C: 250-938-2604 doncowan@remax.net

Don Cowan

Vernon

Now vacant and ready for possession!! Another quality Parsons Family Homes build. Georgie Award winning kitchen, rich fir doors and finishings to name a few. Every inch of this fully finished home and property is well thought out. Lower level could be suited if desired. Compact yard is fully fenced and irrigated. MLS®10163256

Newly built custom home in the heart of Coldstream. Steps to Kidston Elementary, Sovereign Park, Kalamalka High School and easy access to Kalamalka Park. Spacious family home that is set back from the street affording privacy & room. Tons of windows, large room sizes & hard floor surfaces throughout make this an easy care home. MLS®10158731

#11 635 Monashee Road

0 9,9

Excellent value in this quality Parsons Family Homes townhome in Silver Views. An exceptionally run 11 unit strata opportunity. Built with attention to detail and energy efficiency, this well maintained town home has a few more upgrades and boasts one of the largest floor plans in the complex. Never rented and no GST. MLS®10163433

New

MLS 10164621

$409,900

1819 Gallon Avenue, Lumby

REDUCED: 12210 Coldstream Creek Rd.

,00

9 94

1870 Grandview Avenue, Lumby

1709 33 Street, Vernon

,00

9 42

New

Chrysta Cleverley Personal Real Estate Corporation

MLS 10164434

$449,900

1778 Grandview Avenue, Lumby

250-309-1296 chrystacleverley@remax.net MLS 10162463

$429,000

7220 Lakeridge Place, Vernon,

Kathy Broderick

RE/MAX Vernon

250.309.1167

Personal Real Estate Corporation www.broderickrealestate.ca

Business & Farm

Home & Travel

Auto & RV

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

Vernon

MLS 10162316

$699,000

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

YOURREALESTATEPAGES.COM | 11

Amazing Kalamalka Lake Views - 12404 Anjou Dr., Coldstream ice Pr 00

w ,0 Ne 65

Totally renovated 2780 sq ft Bi-level with open plan, 2 bdrms up, 3 bdrms down, 3 full bathrooms, lots of parking! Great location, on quiet cut-de sac walking distance to Kal Beach. Freshly painted, move in ready! Close to great schools, 1/3 acre flat lot ! MLS # 10163281 Virtual walkthrough at: https://my.matterport.com/show/?m=YbFNcDi9Xs6

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

Vernon

We Help Your Business

INC

SilverStarMedia.ca 250.545.8858

Deb

Judy

REALTOR®

Deveau

Fischer

Your Key to the North Okanagan t rfron Rive

e3 Phas elling S Now

$409,500

g Zonin R1A

Units 7, 8, 9, 10 Salmon Arm Dr., Enderby

Call The Key Team at RE/MAX North Valley

908 George St. Enderby, BC

$240,000 1600 Evergreen Street, Enderby Call The Key Team at RE/MAX North Valley - MLS10161537

Bonita

Lundquist* REALTOR®

North Valley

*Personal Real Estate Corporation

trial dus e In - 3 Primoned 1 Z

a nse Swaoint P

19 Eastside Road, Grindrod Call The Key Team at RE/MAX North Valley - MLS10164111

$299,000

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

$644,900 587 Hunt Road, Swansea Point Call The Key Team at RE/MAX North Valley - MLS10158777 uplex Full D

$389,000 603 King Street, Enderby Call The Key Team at RE/MAX North Valley- MLS10156123

$795,000 247 Brickyard Road, Enderby 4 Acres Riverfront

Call Bonita Lundquist 250-306-8184.- MLS 10147683

Hutch "N" Son 250-558-8728 sidhutch@gmail.com

W NE

Awesome level entry rancher with full walk-out basement! 4 bdrms, 3 baths, 2 gas fireplaces, hardwood floors. Amazing valley views and right next to Sawicki Millenium Park. MLS®10162725

Bright and spacious 2 bdrm, 2 full bath condo in sought after Turtle Mountain Estates. granite counter tops, gas fireplace, covered sundeck and skylight. MLS®10165152

#409 3806 35 Avenue W N E I CE PR

962 Mt. Beaven Place

Fantastic opportunity to build your dream home on 10+ acres of gently rolling Lavington farm land. Private setting, easy access. MLS®10137679 $459,900

$524,900 An amazing family home with breath taking views of Kalamalka Lake and Vernon Golf course. Double carport with lots of extra parking for all your toys. MLS®10159053

12311 Husband Road

$579,900

1977

9790 Springfield Road

$339,900

For more information please visit www.remax.com

hutchinson.connor@gmail.com 250-309-1633

Vernon

W N E I CE PR

4 bed, 4 full bath custom built Jenish home. Enjoy country living on 4.62 flat usable acres in modern comfort only minutes to downtown Armstrong & 15 minutes to Vernon. MLS®10155732

$829,900

4432 Sleepy Hollow Road

W N E I CE R P

3 bdrm, 1 bath on quiet street close to all amenities. Fully wired 15x30 detached shop, a carport and a great covered deck. Zoned RM2. MLS®10163686

3913 27 Avenue

$364,900

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

YOURREALESTATEPAGES.COM | 13

Coldstream

Desert Cove

Lakeside retreat boasting 5 Bdrms and 3.5 Baths, Triple Garage & 132ft of Lakeshore.

2 Bdrm, 2 Bath SPOTLESS home. Very bright & very clean. Double Garage. Move in ready.

13122 Westkal Road

715 7 Avenue

www.your5starteam.com MLS速 10154512

MLS速 10165085

Offered at $2,399,000

Newly Offered at $347,900

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

e-Editions available online YourRealEstatePages.com

@REPVernon

Vernon Real Estate Pages

BCREA HOUSING FORECAST UPDATE BCREA HOUSING FORECAST UPDATE ge Rate Forecast 14 BCREA Mortgage Rate Forecast

February 20172017 February

Mortgage Rate Forecast 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 MORTGAGE RATES ON THE RISE Mortgage Rate Forecast Mortgage Rate Forecast March June 2018

BCREA Mortgage Rate Forecast

March June 2018

Mortgage Rate Forecast MORTGAGE RATES THE 2016 2016 2017F 2018F 2016 2016 2017F2017F 2017F ON 2018F RISE HIGHLIGHTS Unit Sales Unit Sales

® ($) Average MLS®MLS Price Average Price ($) Mortgage Rate Outlook 2018F2018F BoardBoard Area Area 10,028 9,2509,250 8,5008,500 585,745 608,000 Canadian 10,028 585,745 599,000 599,000 The 608,000 mortgage market Victoria Victoria 27.5%27.5% • -7.8% -8.1% 12.3% 2.3% 1.5% Mortgage Rate Outlook -7.8% -8.1% 12.3% 2.3% 1.5%six months of 2018, w in the first Mortgages rates returning to long-run level 10,532 9,400 8,750 $383,192 $396,000 $402,000 10,532 9,400 8,750 $383,192 $396,000 $402,000 expensive and more difficult to MORTGAGE RATES RISE TheTHE Canadian mortgageslow market has seen substantial changes Vancouver Island • B20ON stress test prompts start to 2018 Vancouver Island 26.6%26.6% -10.7% -6.9%-6.9% 12.8%12.8% 3.3% 3.3% 1.5% 1.5% borrowers has slo -10.7% conventional in the first six months of 2018, with mortgage credit both more for the Canadian economy • Mortgages rates returning to long-run level 390 Mortgage Rate 417 Outlook 345 345 $284,471 $288,000 $291,000 417 390 $284,471 $288,000 $291,000 Mortgage Rate Outlook growth Powell River Sunshine Coast expensive and more difficult to access. The B20 stress test forwhile the five-year quali Powell Rivertest Sunshine Coastslow start to 2018 • -6.5% Trump trade tantrum delay Bank of1.2% 1.2% HIGHLIGHTS Mortgage Ratemay Outlook • B20 stress prompts 9.4% -11.5% 15.3% 1% 9.4% -6.5% -11.5% 15.3% 1%up 70 basis points in The Canadian mortgage market has seen substantial changes The Canadian mortgage market has seen substantial changes has gone conventional borrowers has slowed overall mortgage credit Canada tightening for the Canadian economy 40,880 34,000 35,750 1,017,228 942,000 963,000 40,880 34,000 35,750 1,017,228 942,000 963,000 in the first six months of 2018, with mortgage credit both more The Canadian mortgage market has substantial changes • Vancouver Mortgages rates returning tofirst long-run level of 2018, with mortgage in the six months credit both morequalifying rates have largely been influenc Greater s rates returning to long-run level Greater Vancouver growth while theto five-year rateseen for Canadian mortgages -5.2% -16.8% 5.1% 12.7% 2.2% 2.2% expensive and more difficult access. The B20 stress test-7.4% for -7.4% -5.2% -16.8% 5.1% 12.7% • Trump may delay Bank ofdifficult •Mortgages B20trade stresstantrum test prompts slow start to 2018 in the first six months of 2018, with mortgage credit both more expensive and more to access. The B20 stress test for from the Bank of Canada as stro • rates returning to long-run level has borrowers gone uphas 70 slowed basis points in the past year. Rising mortgage ss test prompts slowCanada start 2018 conventional overall mortgage credit 23,086 19,700 18,900 $676,946 $657,000 $668,000 tightening for to the Canadian economy 23,086 19,700 18,900 $676,946 $657,000 $668,000 expensive and more difficult to access. The B20 stress test for Fraser Valley conventional borrowers has slowed overall mortgage credit rising inflation. Fraser Valley growth while thehave five-year qualifying rate for Canadian mortgages anadian economy • •B20 rates largely influenced monetary policy stress prompts slow start to 2018 15.1% -14.7% -4.1% -2.9%-2.9% 1.7% 1.7% Trump tradetest tantrum may delay Bank of15.1% -14.7% -4.1%been 17.2% 17.2% by tighter conventional borrowers has slowed overall mortgage credit has gone up 70 basis points in the past year. Rising mortgage growth while the five-year qualifying rate for Canadian mortgages theofCanadian Canada tightening economy 4,3064,306 from the3,100 Bank3,100 of Canada as$397,911 strong economic growth has fueled It has been quite some time sin de tantrum may delayfor Bank 3,4003,400 $397,911 $416,000 $428,000 $416,000 $428,000 have largely been influenced by tighter monetary policy Chilliwack and District Chilliwack and District has gone up 70 basis points rates growth while the five-year qualifying rate for Canadian mortgages in the past year. Rising mortgage rising inflation. ghtening 37.2% -8.8% 18.4% 4.5% 2.9% interest rate environment. The l • Trump trade tantrum may delay Bank 37.2%of -21% -21% -8.8% 18.4% 4.5% 2.9% from the Bank of Canada as strong economic growth has fueled Mor t gmonetary agup e Rat e Forpoints ecas tin the past year. Rising mortgage been influenced by tighter policy has gone 70 basis 3,1813,181 2,870 2,700 345,528 355,000 362,000 Canada tightening rates have largely increases rising2,870 inflation. 2,700 345,528 355,000 362,000 It has been quite some time since Canada was in a true rising was from 2004 to 200 Kamloops and District Kamloops and District from the Bank of Canada as strong economic growth has been fueled rates-5.9% have largely influenced by tighter monetary 23.6%23.6% -9.8% 5.9% 2.7% 2%policy 2018 2019 -9.8% -5.9% 5.9% 2.7% 2% the Bank of Canad crisis , when It has been quite some time since Canada was in a true rising interest rate environment. The last cycle of prolonged rate rising inflation. from the Bank of Canada as strong economic growth has fueled Mo r tg a g e R a te Fo r e ca10,036 st 10,036 8,400 8,6008,600 $461,791 $468,000 $476,000 interest rate environment. The last cycle of prolonged rate 8,400 $461,791 $468,000 $476,000 rate ten times over three years. increases was fromQ4F 2004Q1F to 2007, justQ3F prior to the global financial Okanagan Mainline M o r t g a g e R a t e For e c a s t Term Q1 Q22004 Q3F Q2F Q4F Okanagan Mainline increases was from to 2007, just prior to13.1% the global financial rising inflation. 25.6% -16.3% 2.4% 13.1% 1.3% 1.3% 1.7% 1.7% 25.6% -16.3% 2.4% It has been quite some time since Canada was in a true rising economy 2018 crisis when the Bank of Canada increased policy has changed since tha 2018 20192019 crisis , when the,Bank of Canada increased its overnight policy its overnight 2,459 2,050 1,975 $364,295 $351,000 $356,000 2,459 1-Year 2,050 1,975 $364,295 $351,000 interest rate environment. The last cycle of prolonged rate have had substantial implicatio has been quite some time sinceabout Canada in a true$356,000 rising South Okanagan* rateItten times over three years. Much thewas Canadian Posted rate ten3.34 times over three years. Much about the 4.24 Canadian 3.44 3.64 3.80 4.05 4.44 4.64 South Okanagan* Mo rtga ge R a t e Forec Term Q1 Q1 Q2Q2 Q3F Q3F Q4F Q4F Q1F Q3F Q4F Q4F Termast Q1FQ2F Q2F Q3F 21.6% -16.6% -3.7% 11.3% -3.6% 1.4% 21.6% -16.6% -3.7% 11.3% -3.6% 1.4% Rate increases was from 2004 to 2007, just prior tohas the global financial of Canadian interest rates. The C rate environment. Thechanges last cycle of prolonged rate economy hasinterest changed since that time, and those economy changed since that time, and those changes 1-Year 285 325 $233,363 $243,000 Mo r t ga ge Rcrisis a t e ,Fwhen o r e c260 a s tBank 260 of Canada 285substantial 325 for $233,363 $243,000 $248,000 $248,000 1-YearNorthern 2018 2019 have had implications the ultimate destination increased its overnight policy lowering the growth rate of the increases was from 2004 to 2007, just prior to the global financial Lights 5-Year Posted 3.34 3.44 3.64 3.80 4.05 4.24the 4.44 4.64 Northern Lights have had substantial implications for the ultimate destination Posted Rate3.34 3.44 3.64 3.80 4.05 -16.7% 4.24-16.7% 4.44Qualifying 4.64 9.6% 14% -13.4% 4.1%5.70 2.1% 2.1% 9.6% 14% -13.4% 4.1% of Canadian interest rates. The Canadian workforce has aged, 5.14about 5.27 5.44 5.60 5.60 5.70 three years. Much the Canadian the sharp decline in commodity 2018 rate ten times over 2019 crisis , when the5.54 Bank ofThe Canada increased its overnight policy Rate Q2F Q3F Q4F of Canadian interest rates. Canadian workforce has aged, Q2 Q3F Q4F Q1F Rate lowering the growth rate of the Canadian labour force. Further, 2,955 2,500 2,575 $282,758 $286,000 $291,000 5-Year 2,955 since that2,500 2,575 $282,758 $286,000 back $291,000 economy has changed time, and those changes in oil-sector capital investm Kootenay Qualifying Kootenay 5.14 5.27 5.44 5.54 5.60 5.60 5.70 5.70 rate ten times over three years. Much about the Canadian lowering the growth rate2.7% of the Canadian labour force. Further, the sharp decline in3% commodity has meant a scaling1.1% 5-Year 18.2% -15.4% 1.7% 1.7% TermRate Q1 Q2 Q3F Q4F Q1F Q2F Q4F 18.2%Q3F -15.4% 3% prices 2.7% 1.1% 5-Year have had substantial implications for the ultimate destination productivity growth. Both of the Qualifying 5.14 5.27 5.44 5.54 5.60 5.60 5.70 5.70 back in oil-sector capital investment and subsequent lower economy has changed since that time, and those changes the sharp decline commodity prices$265,000 has meant a scaling 3.44 3.64 3.80 4.05 4.24 4.44 4.64 4,0694,069 Average 4,1004,100 4,250 $263,703 $269,000 4,250in $263,703 $265,000 $269,000 Rate 5-Year 3.39growth. 3.38 3.52 3.64 3.64 3.64 3.84 1-Year productivity Both of these factors have translated into a3.84 BC Northern of Canadian interest rates. The Canadian workforce has aged, lower potential, or long-run, rat BC Northern Discounted have had substantial implications for the ultimate destination Average 3.34 3.44 3.64 3.80 4.05 back in oil-sector capital-0.4% investment and0.5% subsequent lower -3.4% 0.8% 3.7% 3.7% 1.5% 1.5% Posted -3.4% 0.8% 4.24 4.44Rate 4.64 3.64 3.64 3.84 3.84 lower potential, labour or long-run, rate Further, of economic-0.4% growth in Canada. 0.5% Discounted 3.39 3.38 3.52 3.64 lowering the growth rate of the Canadian force. That potential growth, in turn, in 5-Year RateRate ofgrowth, Canadian interest rates. The factors Canadian workforce has aged, productivity Both of these translated into a 112,209 95,770 691,144 657,026 666,657 112,209 96,345 95,770 657,026 666,657 That 96,345 potential ingrowth. turn, influences the691,144 long-run level ofhave 5.27 5.44 5.54 Average 5.60 5.603.39 5.70Total 5.70 BC Source: Bank of Canada; BCREA Economics; Rate Spy BC Total the sharp decline in commodity prices has meant a scaling interest rates that the Bank of C 3.38 3.52 3.64 3.64 3.64 3.84 3.84 Source: Bank of Canada; BCREA Economics; Rate Spy lowering the rate the Canadian labour Further, lower potential, or long-run, rate ofreturn economic growthforce. in Canada. 9.5% 9.5% -14.1% -0.6% 8.6%of -4.9% 1.5% interest rates that the Bank ofgrowth Canada would like to to Discounted 5-Year -14.1% -0.6% 8.6% -4.9% 1.5% Note:investment Average 5-yearand discounted rate is the average rate available in the market, Note: Average5.14 5-year discounted rate is theback average rate available in the market, Rate Qualifying in oil-sector capital subsequent lower once the economy is at full capa 5.27 5.44 5.54 5.60 5.60 5.70 5.70 the economy isposted atEstate full capacity and inflation is atprices its1,2 2011. per the sharp decline in has meant a scaling That potential growth, incommodity turn, influences the long-run level of NOTE:offered The Northern Lights Real Estate Board (NLREB) became part ofpart theatonce South Okanagan Real Board (SOREB) on January offered a discount from the 5-year qualifying rate. atThe a discount from the posted 5-yearEstate qualifying rate. (NLREB) NOTE: Northern Lights Real Board became of the South Okanagan Real Estate Board (SOREB) on January 1, 2011. Rate cent target. Ultimately, atranslated lower potential growth rate means lower growth. Both of these factors have into aofinvestment centlower target. Ultimately, a lower p Source: Bank of Canada; BCREALights Economics;productivity Rate Spy *Excluding Northern Lights *Excluding Northern back in oil-sector and subsequent interest rates that thecapital Bank Canada would like to return to interest rates in the long-run. The Bank 3.38 3.52 3.64Note:3.64 3.64 3.84 Average 5-year 3.84 discounted rate is thelower average rate available the market,rate of economic growth in Canada. potential, orinlong-run, interes 5-Year once the economy is at full capacity and inflation istranslated at its 2 perinto a productivity growth. Both of factors have Long-Run 5-Year Qualifying Mortgage Rate of Canada estimates thethese long-run level offered at % a discount from the Estimated posted 5-year qualifying rate. Average Estimated Long-Run 5-Year Qualifying Mortgage Rate 8 That potential growth, in turn, influences the long-run level of of Can 3.39provides 3.38 3.52 timely 3.64research, 3.64 3.64 3.84 oncent % BCREA Economics timely research, analysis and3.84 information economic factors affecting British Columbia and its housing markets. target. Ultimately, aaffecting lower growth rate means lower lower potential, or long-run, rate economic growth in Canada. of itsfactors policy rate at 3 topotential 3.5 perof cent. Discounted BCREA Economics provides analysis on economic British Columbia and its housing markets. 8and information 6%-6.50% 5-Year Mort gage Spread (5; BCREA Economics; Rate Spy Rate 7 Estimated Long-run 5-year Qualifying Rate interest rates that the Bank of Canada would like to return to Year Qualifying Rate-5-Year interest rates in the 6%-6.50% long-run. Thelevel Bankof gage Spread (5- of its p That potential in turn, influences the long-run Basedgrowth, on historical averages of interest 5-Year Mort Estimated Long-run 5-year Qualifying Rate 7 Bond) scounted rate is the average rate6available in the market, once the economy is at full capacity and inflation is at its 2 per Estimated Long-Run 5-Year Qualifying Year Qualifying Bank of Canada; BCREA Economics; Rate Spy rate spreads, that implies that the would The British Columbia Real Estate Association (BCREA) is Mortgage the is the Rateinterest rates of Canada estimates long-run level %Source: om the posted 5-year qualifying rate. that theand Bank of Canada like to Forecast return toto: Rate-5-Year Based 5 The British Columbia Real Estate Association (BCREA) Send questions comments aboutabout thethe Housing Send questions and comments the Housing Forecast to: 5-Year Term Spread (5-year Bond) 6 lower potential 8Note: Average 5-year discounted rate iscent five-year qualifying rate wouldrate equalat 3 to 3.5 per cent. target. Ultimately, growth rate means lower the average rate available in a the®market, ®GoC Bond-BoC Rate) in BC, professional association for more than 20,000 REALTORS of its policy rate sp 4 professional association for more than 20,000 REALTORS in BC, once the economy is at full capacity and inflation is at its 2 per 6%-6.50% discount from the posted qualifying 5-Year gage Spread 5 interest between 6(5and 6.5 Economist, per cent once the Cameron Muir, Chief Long-run 5-year5-year Qualifying Rate rate. 7offered at aEstimated Cameron Muir, Chief Economist, 5-Year Term Spread (5-year in theMort long-run. The Bank focusing on provincial issues that impact real estate. Working withrates 3 focusing on provincial issues that impact real estate. Working with five-ye Year Qualifying Rate-5-Year cent target. Ultimately, a lower potential growth rate means lower GoC Bond-BoC Rate) Bank of Canada closes the gap between Based on historical averages of interest 2% Inflat ion Target cmuir@bcrea.bc.ca; 604.742.2780 604.742.2780 Estimated Long-Run 5-Year Qualifying Mortgage Rate 4 of Canada Bond) the cmuir@bcrea.bc.ca; 6 the estimates long-run level 2 province’s 11 real11estate boards, BCREABCREA provides continuing the province’s real estate boards, provides continuing betwe the overnight rate and the Bank’s longinterest rates inimplies the long-run. The Bank rate spreads, that that the 3 of its policy rate at 3Brendon 1 Ogmundson, Economist, to 3.5 per cent. 5 professional Brendon Ogmundson, Economist, education, advocacy, economic research and run or equilibrium overnight rate.estimates Based 5-Year Term Spread (5-year Estimated Long-Run 5-Year Qualifying Mortgage Rate professional education, advocacy, economic research andReal BoC Equilibrium Bank o 6%-6.50% 2% Inflat ion Target of Canada the long-run level % 5-Year Mort gage Spread (5five-year qualifying rate would equal Rate d Long-run 5-year Qualifying Rate0 bogmundson@bcrea.bc.ca; GoC Bond-BoC Rate) 604.742.2796 2 clients. ®Year Qualifying onbogmundson@bcrea.bc.ca; our outlook for Canadian604.742.2796 economic ® 4 8standard Rate-5-Year provide value for their formsforms to help provide value forBased their clients. standard toREALTORS help REALTORS on historical averages of interest Estimated Long-Run Mortgage the ov of its policy rate at 3 to 3.5 per cent. between 6 and Bond) growth inflation, it is likely we 6.5 will per cent once the 6%-6.50% 5-Year Mort gageand Spread (51Rate Estimated Long-run 5-year Qualifying Rate 3 7 rate spreads, that implies that the run or Additional economics information is available on Yearion Qualifying Additional economics information available on see theRate-5-Year five-year qualifying rate that is the Bank of Canada closes gap between Target Based on near historical averages of interest To demonstrate the profession’s commitment to improving Quality Real BoC Equilibrium Rate To BoC demonstrate the profession’s commitment to improving Quality2% Inflat 5-Year Rate 5-Year GoC BondTerm Spread (5-year0 five-year qualifying Bond) 2 6 BCREA’s website at: www.bcrea.bc.ca. rate would equal on our destination by the end of 2020. BCREA’s website at: www.bcrea.bc.ca. GoC Bond-BoC Rate) that help the rate overnight ratethat and the Bank’s of Lifeofin5-Year BC in communities, BCREA supports Estimated Long-Run Mortgage spreads, implies thatlongthe Contract Rate 5-Year Qualifying Ratepolicies Life BC communities, BCREA supports policies that help 1 5 between 6 and 6.5 perTerm centSpread once(5-year the growth 5-Year Rate run five-year or equilibrium overnight rate. Based ensure economic vitality, provide housing opportunities, preserve Source: BCREAeconomic Economics; Haver qualifying rate would equal ensure vitality, provide housing opportunities, preserve Real GoC ToBond-BoC sign forup BCREA news releases by email visit: Rate) BoC Equilibrium Rate Toup sign for BCREA news releases by email visit: 0 4 Bank of Canada closes the gap between see th 2% Inflat ion Target 1 on our outlook for Canadian economic the environment, protect property owners and build betterbetter between 6 and 6.5 per cent once the www.bcrea.bc.ca/news-and-publications/publications/ the environment, protect property owners and build www.bcrea.bc.ca/news-and-publications/publications/ Estimated Long-Run BoC RateMortgage 5-Year GoC Bond the overnight rate and the Bank’s longdestin 3 growth and inflation, it is likely we will Rate Contract Rate communities with good and safe manage-subscriptions. communities with schools good schools andneighbourhoods. safe neighbourhoods. Bank 2%manage-subscriptions. Inflat ion Target 5-Year 5-Year Qualifying Rateof Canada closes the gap between run or equilibrium overnight rate. Based 2 seethe theovernight five-year qualifying rateBank’s near that Real BoC Equilibrium Rate rate and the longSource: BCREA Economics; GoC Bond on our outlook forHaver Canadian economic 1 BoC Rate Estimated Long-Run5-Year destination by the end of 2020. Mortgage run or equilibrium overnight rate. Based 5-Year Contract Rate 5-Year Qualifying Rate growth and inflation, it isEquilibrium likely we will Real BoC Rate Rate 0 on our outlook for Canadian economic see the five-year qualifying rate near that ® Long-Run Mortgage Source:Housing BCREA Economics; Haverquarterly ® Housing Forecast is published by the British Columbia RealEstimated Estate Real estate real estate and REALTORS may reprint this content, Forecast is published quarterly by the British Columbia Real Association. Estate Association. Real boards, estate boards, real associations estate associations and REALTORS reprint this content, growth and inflation, itwith ismay likely we will Rate“Copyright 5-Year GoC Bond provided that credit is given BCREA by including the following statement: Columbia Real Estate Association. Reprinted permission.” provided that credit is to given to BCREA by including the following statement: British Columbia Real Estate Association. Reprinted with permission.” 1 destination by“Copyright the British end of 2020. ct Rate 5-Year Qualifying Rate see the five-year qualifying rate near that BCREA BCREA makes makes no guarantees as to the or completeness of this information. no guarantees asaccuracy to the accuracy or completeness of this information. 2 2 BoC Rate 5-Year GoC Bond destination by the end of 2020. mics; Haver

MORTGAGE RATES ON THE RISE HIGHLIGHTS MORTGAGE RATES ON THE RISE

HIGHLIGHTS

2020Q1

2019Q1

2018Q1

2017Q1

2016Q1

2015Q1

2014Q1

2013Q1

2012Q1

2011Q1

2010Q1

2009Q1

2008Q1

2020Q1

2019Q1

2018Q1

2017Q1

2016Q1

2015Q1

2014Q1

2013Q1

2012Q1

2011Q1

2010Q1

2009Q1

2008Q1

2018Q1 2007Q12019Q1 2008Q12020Q1

2017Q1

2016Q1

2015Q1

2014Q1

2013Q1

2012Q1

2007Q1

2020Q1

2017Q1

2019Q1

2016Q1

2017Q1

2018Q1

2015Q1

2016Q1

2014Q1

2012Q1

2015Q1

2011Q1

2013Q1

2010Q1

2012Q1

2009Q1

2011Q1

2008Q1

2007Q1

HIGHLIGHTS

1420 - 1420 701 Georgia Street Street West, BoxPO 10123, Pacific Centre, Vancouver, BC V7YBC 1C6 604.683.7702 | Fax:| 604.683.8601 | Email: bcrea@bcrea.bc.ca - 5-Year 701 Georgia West, Box 10123, Pacific Centre, Vancouver, V7Y |1C6Phone: | Phone: 604.683.7702 Fax: 604.683.8601 | Email: bcrea@bcrea.bc.ca Contract RatePO 5-Year Qualifying Rate

Source: BCREA Economics; Haver

Vernon *Personal Real Estate Corporation

OkanaganHomes.com | 250.549.7050

South Vernon

Armstrong

Coldstream

1806 43 Street

3412 McKechnie Drive

8308 Stoneridge Drive

Fantastic First Home Option Close to schools, shopping and downtown, this 3bed home has a level and fenced yard with ample parking and garden shed. Main floor living with large front window. Option to suite out the downstairs. Room for a pool or shop!

Heritage Point Rancher Immaculate 4bed, 3bath rancher in Heritage Point with everything you want! Open concept living with 9’ ceilings, hardwood and tile flooring, central air, built-in vac and fully finished basement. Large windows with valley views provide ample light throughout the house.

REDUCED BY $29,000! Well maintained 5Bed, 3Bath home with Kal Lake and Monashee Mountian views is priced to sell! Just minutes from Kal Beach and the head of the Rail Trail! Multi-level decks with built-in BBQ and hot tub for the perfect outdoor living space.

$399,000

$554,800

$769,900

mls 10163300

mls 10164783

mls 10162167

Armstrong

Westmount

Coldstream

4858 Salmon River Road

2724 & 2720 Howser Place

7481 Buchanan Road

Stunning And Picturesque Hobby Farm! 11.9 level acres barely 10 minutes from downtown Armstrong. Located on a quiet no-thru lane. Private and completely level with a fabulous set-up for horses featuring a riding area, round pen, 8 pastures, shelters, heated autowaterers, water hydrants and more!

Trucker’s Paradise! Two legal titles and tons of potential. Parking for all of your rigs and toys on this .76 acre lot with detached 4 bay garage with two oversize doors to accommodate large vehicles or RVs, perfect for mechanic. Home has attached double carport with shed/workshop.

Income Generating Acreage

$825,000

$849,000

$899,000

mls 10156246

mls 10163347

Rodney Shanks

Heather Paulsen

Alan Stier

Craig Demetrick

REALTOR®

rodney@okanaganhomes.com heather@okanaganhomes.com alan@okanaganhomes.com craig@okanaganhomes.com

Picturesque 8.62 acre hobby farm minutes from Vernon. Quiet rural setting with Pleasant Valley views. Partial land lease to Cherry orchardist provides farm status and modest income with plenty of room left for your horses & toys. Irrigation, power & water to outbuildings for hay storage, shelters & shop.

Barb Williamson* Priscilla Sookarow REALTOR®/Managing Broker

Owner/REALTOR®

barb@okanaganhomes.com info@okanaganhomes.com *Personal Real Estate Corporation

Priscilla

mls 10164411

See us at RE/MAX Vernon 5603 27 Street Vernon, BC

Outstanding Agents. Outstanding Results.

GO WITH THOSE WHO KNOW Armstrong

Commercial Solutions

North Valley

Lumby

Vernon

Vernon (Silver Star Office)

2555 Pleasant Valley Blvd Armstrong, BC V0E 1B0 250.546.3119

5405 26 Street Vernon, BC V1T 7G4 250.503.3477

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

2095 Shuswap Ave Lumby, BC V0E 2G0 250.547.9266

5603 27 Street Vernon, BC V1T 8Z5 250.549.4161

108-152 Silver Lode Lane V1B 3W9 250.549.4161