Jason Neumann - Blog - Jason Neumann

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		More
February 2012 Kelowna and Okanagan Real Estate Stats Kelowna/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		More
January 2012 Buyers Survey Results For Kelowna And Central Okanagan Real Estate Below is a recently released Buyers Agents survey by OMREB (Okanagan Mainline Real Estate Board). A total of 119 real estate agents participated in this survey – representing 58% of the 207 OMREB sales representatives who acted as Buyers Agents and 40% of the 297 deals closed on behalf of Buyers in January. JANUARY SURVEY SUMMARY Property Type: 23.6% by First Time Buyers ... Posted by Jason Neumann on March 2, 2012		More
Big News from BC Ministry of Finance regarding HST Rebates The B.C. government is giving home buyers and builders a more solid foundation for the transition out of the harmonized sales tax, and says it will officially return to the provincial sales tax by April 1, 2013. In the meantime, the government will raise the HST rebate threshold for new home buyers to $850,000, up from the current $525,000. That means more than 90 per cent of newly built homes ... Posted by Jason Neumann on February 18, 2012		More
January 2012 Kelowna and Okanagan Real Estate Stats Kelowna West Kelowna and Okanagan Real Estate Stats - January 2012 Ratio of Sales vs. Total Inventory = 5.73% Condo -- Sales = 40 Condo -- New Listings = 174 Condo -- Current Inventory = 850 Condo -- Sell/Inv. Ratio = 4.71% Condo -- Days to Sell = 105 Average Price: $267,945 Average Median Price: $233,000 Townhouse -- Sales = 25 Townhouse -- ... Posted by Jason Neumann on February 12, 2012		More
Kelowna and Okanagan Foreclosure Property Sales For January 2012 The Central Okanagan foreclosure inventory levels continue to show steady increases from month to month especially now in 2012. As a matter of fact, since January 1,2012, there has already been 76 new foreclosure listings to hit the market. Buyers ask me all the time if I foresee a large influx of future foreclosure homes coming to the Kelowna real estate market? ... Posted by Jason Neumann on February 11, 2012		More
November 2011 Residential Sales for Kelowna and Central Okanagan Kelowna/West Kelowna and Central Okanagan Real Estate Stats - November 2011 Ratio of Sales vs. Total Inventory = 6.59% Condo -- Sales = 52 Condo -- New Listings = 119 Condo -- Current Inventory = 851 Condo -- Sell/Inv. Ratio = 6.11% Condo -- Days to Sell = 113 Average Price: $250,545 Average Median Price: $219,500 Townhouse -- Sales = 31 Townhouse ... Posted by Jason Neumann on December 6, 2011		More
October 2011 Sales for Kelowna and the Central Okanagan Kelowna/West Kelowna and Central Okanagan Real Estate Stats - October 2011 Ratio of Sales vs. Total Inventory = 6.38% Condo -- Sales = 50 Condo -- New Listings = 200 Condo -- Current Inventory = 889 Condo -- Sell/Inv. Ratio = 5.62% Condo -- Days to Sell = 118 Average Price: $250,707 Average Median Price: $210,625 Townhouse -- Sales = 37 Townhouse ... Posted by Jason Neumann on November 29, 2011		More
Kelowna and Central Okanagan Foreclosure Sales October/November 2011 The Central Okanagan foreclosure inventory levels continue to show steady increases from month to month as 2011 comes to a close. 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 ... Posted by Jason Neumann on November 28, 2011		More
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		More
Kelowna Foreclosure Property Sales August 2011 The 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		More
July 2011 Sales for Kelowna and the Central Okanagan Kelowna/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		More
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		More
CIBC's Deputy Chief Economist Disagrees That Canada's Housing Market Is Set To Crash! Average House Prices a Misleading Gauge of the Health of the Canadian Real Estate Market: CIBC Recently an article appeared in CBC News about Canada's housing market bursting according to research consultant company Capital Economics. The report caused quite a swirl of opinions amongst home owners and those active in the real estate industry. Below is Benjamin Tal's (Deputy ... Posted by Jason Neumann on July 7, 2011		More
The Rundown On June 2011 Sales For Kelowna And The Central Okanagan Kelowna,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		More
Kelowna,BC and Central Okanagan Foreclosure Stats June 2011 There are currently 113 active foreclosures (as of June 24,2011) amongst the entire listing inventory for the Central Okanagan. There are currently 69 active foreclosures (as of June 24,2011) amongst the entire listing inventory for the North Okanagan. There are 4,980 active listings this month (including the 113 foreclosure properties) in the Central Okanagan. Active Foreclosure Inventory Breakdown: ... Posted by Jason Neumann on June 24, 2011		More
Okanagan and Shuswap Buyer Survey Results for May 2011 May 2011 Buyer Survey Results The May 2011 results of the Okanagan Mainline Real Estate Board (OMREB) for Buyers Survey are in! There was a total of 151 respondents that participated in the survey – 40% of the 376 OMREB sales representatives who closed the 538 deals on behalf of Buyers last month. Here is what the survey showed: Property Type: 27.4% ... Posted by Jason Neumann on June 17, 2011		More
Okanagan and Shuswap Buyer Survey Results - April 2011 A recent survey of buyer's agents in the Central Okanagan, North Okanagan and Shuswap regions revealed the following: APRIL SURVEY SUMMARY* Property Type: 27.7% of purchases were by Move Up Buyers 14.9% Moving from Single Family to Home Strata unit 10.6% by First Time Buyers 6.4% buying Revenue/Investment Property 6.4% Recreation Property Buyers 6.4% moving into Retirement Home/Seniors ... Posted by Jason Neumann on May 21, 2011		More
Kelowna,BC and Central Okanagan Real Estate Stats - March 2011 Ratio 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		More
Kelowna,BC and Central Okanagan Foreclosure Stats March 2011 There are currently 84 active foreclosures (as of April 7,2011) amongst the entire listing inventory for the Central Okanagan. There are 4,423 active listings this month (including the 84 foreclosure properties) versus 4,108 listings last month, a 7.67% increase in overall inventory levels. Active Foreclosure Inventory Breakdown: 6 Lots and Acreages ... Posted by Jason Neumann on April 7, 2011		More
Okanagan Buyer Survey Results - February 2011 OMREB February 2011 Survey Highlights: A recent survey of buyers agents in the Central Okanagan, North Okanagan and Shuswap regions revealed that: 31.9% of purchases were by First Time Buyers, and 24.2% by Move Up Buyers; 26.4% of Buyers were Two Parent Families with Children, 25.3% Couples Without Children, 16.5% were Single Females, 16.5% Empty Nesters/Retirees, 7.7% Single Parents with ... Posted by Jason Neumann on March 20, 2011		More
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		More
Kelowna and Central Okanagan Foreclosure Stats December 2010 - January 2011 There are currently 98 active foreclosures (as of January 15,2011) amongst the entire listing inventory for the Central Okanagan. There are 3,623 active listings this month (including the 98 foreclosure properties) versus 3,863 listings last month, a 6.62% drop in inventory level. Active Foreclosure Inventory breakdown: 7 Lots and Acreages ... Posted by Jason Neumann on January 15, 2011		More
BC Assessment for Central Okanagan 2011 Recently, 80,000 property owners in the Central Okanagan received their property assessments in the mail. The majority of these assessments showed little change from 2009 as overall real estate sales in Kelowna and area were quite sluggish in 2010. It is important to note that BC Assessments do not reflect current real estate market conditions and are more of a general guide ... Posted by Jason Neumann on January 10, 2011		More
Kelowna and Central Okanagan December 2010 Stats Ratio of Sales vs. Total Inventory = 5.43% Condo -- Sales = 44 Condo -- New Listings = 166 Condo -- Current Inventory = 884 Condo -- Sell/Inv. Ratio = 4.98% Condo -- Days to Sell = 119 Average Price: $237,066 Average Median Price: $217,450 Townhouse -- Sales = 21 Townhouse -- New Listings = 85 Townhouse -- Current Inventory = 440 Townhouse -- ... Posted by Jason Neumann on January 9, 2011		More

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