| Recent Blog Posts by Jason Neumann | ||
February 2012 Kelowna and Okanagan Real Estate StatsKelowna/West Kelowna and Okanagan Real Estate Stats - February 2012
Ratio of Sales vs. Total Inventory = 7.43%
Condo -- Sales = 54
Condo -- New Listings = 169
Condo -- Current Inventory = 886
Condo -- Sell/Inv. Ratio = 6.09%
Condo -- Days to Sell = 124
Average Price: $204,262
Average Median Price: $186,450
Townhouse -- Sales = 49
Townhouse ...
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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Kelowna Foreclosure Property Sales August 2011The Central Okanagan foreclosure inventory levels continue to show signs of steady increases from month to month in 2011. Buyers ask me all the time if I foresee a huge influx of court ordered sales to the Kelowna real estate market? In my opinion, having watched how the local banks and lenders handle the foreclosure process the answer would have to be...no I don't. Reason being is banks ...
Posted by Jason Neumann
on August 29, 2011
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Is now a good time to buy Kelowna and Okanagan foreclosure homes?The Central Okanagan foreclosure inventory is now starting to show signs of steady increases from month to month in 2011. The overall active foreclosure listings pale in comparison to the total inventory in the Central Okanagan which continues to be a good sign. Buyers ask me all the time if I foresee a huge influx of court ordered sales to the Kelowna real estate market? In my opinion, having watched ...
Posted by Jason Neumann
on July 18, 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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Kelowna,BC Active MLS Listing Inventory and March SalesCurrent Active Central Okanagan MLS Listing Inventory as of April 21,2010:
Single Family Dwellings - 2107 properties (191 more properties or a 9.97% increase from March) including 7 pending offers ranging in value from $339,800 to $589,000
Strata - Condos - 1092 properties (4 more properties or a 0.367% increase from March) with 3 pending ...
Posted by Jason Neumann
on April 21, 2010
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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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New Canadian mortgage rules take effect April 19,2010I was recently sent this article by Karen Shale a local mortgage broker with LendingMax here in Kelowna. Karen offers a straight to the point and excellent explanation of each of the new federal lending rules that were recently announced by Jim Flaherty, Minister of Finance. These new lending regulations take effect April 19,2010. Here's the article:
Here is the official announcement ...
Posted by Jason Neumann
on February 21, 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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Fighting Mold - A Homeowner’s Guide
Mold can be a serious health risk to any homeowner and the sooner it is detected the better. Having personally lived in a home that had mold in the laundry room I can tell you first hand that it is not something to take lightly. To remediate and repair the affected areas I had to rip out out all the drywall and insulation in the entire room. This work had to be done as ...
Posted by Jason Neumann
on February 1, 2010
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