| Recent Blog Posts by Jason Neumann | ||
Kelowna and Okanagan Foreclosure Property Sales For February 2012
The Central Okanagan foreclosure inventory levels are showing sharp increases from month to month in 2012. As a matter of fact, since January 1,2012, there has already been 135 new foreclosure listings to hit the market this year! Buyers ask me all the time if I foresee a large influx of future foreclosure homes coming to the Kelowna real estate market? Having ...
Posted by Jason Neumann
on March 14, 2012
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Buyers Guide To Understanding Foreclosure and Court Ordered Sales In Kelowna and Okanagan
Foreclosure: A foreclosure is the legal process by which a mortgagee, or other lien holder, usually a lender, obtains a termination of a mortgagor's equitable right of redemption, either by court order or by operation of law (after following a specific statutory procedure).
Court Ordered Sale: A Court Ordered Sale is the legal process where the BC Provincial Court is petitioned to approve ...
Posted by Jason Neumann
on September 14, 2011
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July 2011 Sales for Kelowna and the Central OkanaganKelowna/West Kelowna and Central Okanagan Real Estate Stats - July 2011
Ratio of Sales vs. Total Inventory = 7.40%
Condo -- Sales = 76
Condo -- New Listings = 177
Condo -- Current Inventory = 993
Condo -- Sell/Inv. Ratio = 7.65%
Condo -- Days to Sell = 101
Average Price: $229,469
Average Median Price: $216,950
Townhouse -- Sales = 54
Townhouse ...
Posted by Jason Neumann
on August 28, 2011
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The Rundown On June 2011 Sales For Kelowna And The Central OkanaganKelowna,BC and Central Okanagan Real Estate Stats - June 2011
Ratio of Sales vs. Total Inventory = 7.36%
Condo -- Sales = 49
Condo -- New Listings = 190
Condo -- Current Inventory = 980
Condo -- Sell/Inv. Ratio = 5.00%
Condo -- Days to Sell = 104
Average Price: $289,912
Average Median Price: $284,000
Townhouse -- Sales = 41
Townhouse -- New Listings = 144
Townhouse ...
Posted by Jason Neumann
on July 7, 2011
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Kelowna,BC and Central Okanagan Real Estate Stats - March 2011Ratio of Sales vs. Total Inventory = 8.40%
Condo -- Sales = 54
Condo -- New Listings = 197
Condo -- Current Inventory = 945
Condo -- Sell/Inv. Ratio = 5.71%
Condo -- Days to Sell = 100
Average Price: $232,630
Average Median Price: $210,000
Townhouse -- Sales = 51
Townhouse -- New Listings = 114
Townhouse -- Current Inventory = 493
Townhouse ...
Posted by Jason Neumann
on April 7, 2011
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Finance Minister Jim Flaherty unveils new mortgage regulations
Finance Minister Jim Flaherty announced today new rules for the Canadian mortgage industry that he says will "protect the stability of the economy."
The announcement comes on the heels of a recent warning from the Bank of Canada that Canadians' domestic debt burden is the highest on record, even higher than our neighbours to the south. The ratio of household debt ...
Posted by Jason Neumann
on January 17, 2011
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Understanding the Changes to the Rules for Canadian Government Insured MortgagesThere are now new rules for home buyers looking to qualify for high-ratio mortgages and/or investment properties. There seems to be a some misconceptions out there as to how these new rules affect buyers today. I recently spoke with Julie Weimer an RBC Mortage Specialist and she kindly provided me the following information:
Changes to the Rules for Government Insured Mortgages: ...
Posted by Jason Neumann
on April 3, 2010
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The Dangers and Pitfalls of Overpricing Your Home
There are potential dangers and pitfalls when it comes to pricing your home in any kind of real estate market. Sellers can be reluctant to price their home in line with the marketplace as they feel they may be giving away too much of their home equity. The reality is pricing your home right from the start will get the net result you are looking for as a seller. Here ...
Posted by Jason Neumann
on March 20, 2010
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Okanagan Seller's CornerThere are a number of different areas that are important to consider when choosing your real estate representative:
Personality & Service Once you decide to sell your home, it is important to choose a realtor that both you and your family can trust and feel comfortable working with. As a sales associate for Century 21 Assurance Realty Ltd., I am that real estate professional you are looking for. ...
Posted by Jason Neumann
on March 11, 2010
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Mortgage Document Checklist for Home Buyers
Whether you are considering buying a new home or refinancing your existing mortgage, important personal information and documents will be required by lenders. This checklist gives an overview of the necessary documentation that most Canadian lenders require prior to approving and funding a mortgage. By providing these documents in a timely fashion, you will ...
Posted by Jason Neumann
on February 8, 2010
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Kelowna,BC and Central Okanagan Foreclosure Listing Information for February 2010There are currently 61 foreclosures (as of February 7,2010) amongst the entire listing inventory for the Central Okanagan. That is a decrease of 14 properties (-22.95%) in the foreclosure inventory from last month.
The foreclosure inventory breakdown is as follows:
2 Lots and Acreages (both at $115,000) with no pending sales
2 Manufactured Homes ($79,000 ...
Posted by Jason Neumann
on February 8, 2010
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Top 10 Things Not to Do Before Closing
Buying a home can be stressful at times especially when it comes to obtaining suitable financing. Mortgage Brokers warn of making radical changes to your finances during the due diligence period and prior to completing. Here is some practical advice for Buyers to avoid causing themselves unneccessary headaches prior to completing their home purchase.
The Top 10 Things not ...
Posted by Jason Neumann
on January 11, 2010
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Some great Stock Market insights for Canadian InvestorsCentral banks around the world have pushed their lending rates to historic lows in an effort to stave off a total global financial and economic collapse. As a result interest rates have remained for the most part at these low levels with many investors trying to take advantage of other's mistimed purchases.
2010 will likely be the year when everything changes...
Here’s ...
Posted by Jason Neumann
on January 11, 2010
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Kelowna,BC and Central Okanagan Foreclosure Listing Information for December 2009There are currently 78 foreclosures amongst the entire listing inventory for the Central Okanagan. There continues to be a trend of month to month increases in inventory levels of homes that are now in the foreclosure process.
The breakdown is as follows:
3 Lots and Acreages ($115,000 and $590,000) no pending sales.
39 Single Family Residential ($199,900 to ...
Posted by Jason Neumann
on December 14, 2009
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Central Okanagan Real Estate MLS Listing Inventory and Foreclosures for July 2009Current listing inventory as of July 27,2009:
Single Family Dwellings - 2113 properties including 8 pending offers
Strata - Condos - 1035 properties including 3 pending offers
Strata - Townhomes - 533 properties including 6 pending offers
Manufactured Home - 236 including 0 pending offers
Lots/Acreages - 915 ...
Posted by Jason Neumann
on July 27, 2009
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Central Okanagan Real Estate MLS Listing Inventory and Foreclosures for June 2009Current listing inventory as of June 11,2009:
Single Family Dwellings - 2108 properties including 13 pending offers
Strata - Condos - 1154 properties including 6 pending offers
Strata - Townhomes - 553 properties including 4 pending offers
Manufactured Home - 223 including 3 pending offers
Lots/Acreages - 864 ...
Posted by Jason Neumann
on June 11, 2009
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Bank of Canada lowers its key lending rate by another 0.5%, good news indeed!
Well, the speculation and anticipation of yet another rate decrease by the Bank of Canada became a reality today! The Bank of Canada reduced its key lending rate to a historical low of 0.5%. The move is intended to help jump start a rather fragile Canadian economy and get consumers out there spending again. Bottom line here is if you have a variable rate mortgage loan, you are ...
Posted by Jason Neumann
on March 3, 2009
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Kelowna foreclosures are very rare indeed!
For current foreclosure stats please visit: Okanagan Foreclosure Properties
Foreclosures are few and far between in the Central Okanagan today. The Kelowna Real Estate Market has returned to more of a balanced one with homes taking longer to sell and buyers have more selection. There are also a number of "Subject to Sale" deals where one home owner is waiting for another ...
Posted by Jason Neumann
on January 16, 2009
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Admist all the snow and holiday festivities December sales in the Central Okanagan were very good!Although many real estate markets across Canada have been very sluggish in terms of sales, the month of December for sales in the Central Okanagan were quite encouraging. What did he say?!? Did I just read that sales last month were actually not too bad!? I know don't be too shocked! After all, Kelowna and its many neighbourhoods are still considered to be ...
Posted by Jason Neumann
on January 4, 2009
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I will never give up my cell phone...NEVER!!!Consumers not willing to cut back on web, cellphones
Updated Thu. Oct. 23 2008 5:48 PM ET
CTV.ca News Staff
Canadian households are preparing to cut back on expenses in the face of economic recession but two items which were a luxury only a decade ago -- the Internet and cellphones -- are among the last items Canadians are willing to forgo. For full story see CTV.ca
Here is the ...
Posted by Jason Neumann
on October 29, 2008
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