This blog is about me, Paige Guernsey, and the things that happen around my job as a Kelowna Real Estate agent with Coldwell Banker Horizon Realty. I talk about listings, sales activity, market conditions, market trends, promotions, green real estate, and sometimes funny things that happen to me during the course of my day. There's links and videos to great information as well as access to my 2 websites, kelownahome.com and greenkelownarealestate.com
Every now and then I do something so silly and every now and then someone, in this case, hears me doing that silly something!
My daughter loves to sing and I decided I would support her and start singing too (FYI… I’m a very bad singer). We sing in the car with the windows down and when we’re on the highway we sing quite a bit louder! Yesterday someone called me while I was singing AND driving on the highway. I didn’t realize I pressed the answer button on the steering wheel and that person listened to me sing. Incredibly, for about 2 minutes! Completely embarrassed I called them back when I realized what happened. Kinda’ wierd they didn’t answer the phone!
If you’re looking for a real estate investment or a place to call home in Kelowna, and like to laugh, call Paige Guernsey at 250-862-6464
Why could I get Prime minus .90 last week and today it is Prime minus .25?
A great question says Mortgage Brokers Association of BC. Check out this informative article on the how’s and why’s of banks and interest rates. Thanks to Brenda Dilley of Mortgage Alliance for this. If you’re looking for a fantastic mortgage broker (remember, using a mortgage broker ensures you’re getting the best possible mortgage for you and your needs and it doesn’t cost YOU a cent!). Brenda can be reached at 250-808-1000 or dilley@telus.net.
If you’re looking for an experienced, full time realtor in Kelowna or through the Okanagan Valley, Call Paige Guernsey at 250-862-6464.
I’ve been working with an investor looking for the ultimate investment… one that pays for itself. We just wrapped up the paperwork and they’re the proud new owners of a gorgeous townhouse with a built in tenant! In my work as a Kelowna real estate agent, I come across some interesting property with medium to long term goals and the possibility of substantial gains.
Waterfront Possibilities
It wasn’t that long ago that waterfront property on Okanagan Lake was well under the $500,000 mark.
ABBOTT STREET
In 1999-2000, waterfront Kelowna homes were selling on Abbott Street for between $400 – $500,000. Today, homes in the same area on Abbott street have been selling for between $2.5 and $5 million dollars!
This home is on Manhattan Avenue and currently for sale at $370,000. It’s in a cozy waterfront neighbourhood in Kelowna’s North end. Being an area of older homes, visionaries have been buying, renovating or re-building on Manhattan, and creating an entirely new neighborhood in this growing and changing part of Kelowna. Newer, larger homes on Manhattan and right on Lake Okanagan, have been selling recently for between $1.3 and $1.55 million. Close to Knox Mountain and the secluded Poplar Point, living here means you can walk or bike most everywhere. A few blocks away from the downtown core of Kelowna, you’ve got easy access to the growing cultural district, Prospera Place for hockey games and concerts, Kelowna Art Galleries and Museums, as well as some of the best restaurants in town!
ANOTHER HIDDEN GEM
Years ago I worked with an investor on this property very close to Manhattan Avenue. Real estate prices were quite a bit higher then and the numbers didn’t quite work for my client. It’s for sale again. To buy this, rent it out, and watch the neighbourhood change in the medium to long term range (5-10 years) could be an amazing opportunity to capture real estate equity for your financial portfolio.
Looking for an investment opportunity in Kelowna and a good real estate agent who can help? Call me, Paige Guernsey, at 250-862-6464.
The City of Kelowna has opened up applications for the NeighbourWoods tree program.
On a “first come first serve” program you can receive a discounted tree for your Kelowna real estate and help sustain our GREEN goals! Trees are similar to lungs, they remove carbon dioxide from the air and use it for growth energy. Over the lifetime of a tree, not only is several tons of carbon dioxide consumed, they provide shade, release oxygen, reduce erosion and ground water runoff, and form microhabitats for wildlife. Trees can reduce the amount of pollutants entering the air, including ozone, nitrogen dioxide and various particulates. Most urban tree species are carefully chosen for their ability to greatly improve air quality.Don’t delay Kelowna, sign up today for your tree and keep your real estate GREEN!
If you’re wondering how to make your home more attractive to a GREEN buyers, call Paige Guernsey at 250-862-6464.
With real estate prices and interest rates being low, coupled with the fact there are some great deals to be had in the condo market with a flood of inventory, more and more people are looking at real estate to bolster their financial portfolio.
Consider this, you take a mortgage out on a newer 2 bedroom condo that you can rent, factoring in property tax, payments on this are approximately $850. Turn around and rent this unit out for $900-$950 a month and you’ve got a money-maker. Interest on this loan is deductible as are any expenses to maintain the property. I used 30% that came from a Line of Credit and a conventional mortgage of $110,000, making this a 100% financing scenario. If you have cash to put down, your payments would be substantially less. We all know the real estate market in Kelowna will go up again. Wouldn’t it be nice to have someone pay off a loan for something you bought today for $165,000 that in 5 years time is worth $200,000?
I know that all sounds so simple, but if you are considering a Kelowna real estate investment, call Paige Guernsey on her direct line at 250-862-6464 for some useful information that can provide for your future!
If you’re thinking of selling your home in the near future, investing in a few well-conceived improvements could pay you bigdividends in terms of improving your resale value The big question is: where to spend your money? Whether you’re selling in the near future or at some later date, your first consideration should be the value you place on the improvements while you’re continuing to live in the home. After taking that into consideration, there are several guidelines that can help you achieve the best return on your investment.
Kitchen renovation tips, all for under $1,500
The kitchen is normally the focal point of any house. It’s the high point of virtually every potential buyer’s walk-through – male and female alike. As such, improvements to this area are almost always a worthwhile investment. Here’s a great video on a cost effective cabinet upgrade for as little as $1,500!
Cabinet upgrade
As a general rule, the more visible an improvement is, the better your chances for a good return on your investment. For example, mentioning you have a new water heater or plumbing upgrade won’t have the powerful visual impact of a new kitchen counter top or tile backsplash — even though they may cost the same. Refacing your existing kitchen cabinets is a lower cost option than replacing all your cabinetry. If you’re thinking of a major kitchen renovation, focus your energy – and your budget – on creating new work surfaces and improving function or traffic flow, rather than simply focusing on adding more floor space. Here’s a great video on updating counter space for under $1,500.
Counter-top upgrade
For the more budget conscious, a fresh coat of paint is one of the least expensive improvements that can create a favourable first, and lasting impression on buyers. In fact, dollar for dollar, a fresh coat of paint often delivers one of the best returns on your investment. Painting your kitchen and simply replacing your handles with updated hardware can revitalize the entire look of your kitchen and strengthen its visual appeal. Remember when choosing your colours that light colours can make a room appear larger, and neutral shades will be most appealing to the greatest number of potential buyers. Another optical effect that will help create the illusion of more space is to install new flooring or backsplash tiles on the diagonal to draw the eye up and away on the longest line possible. All for under $1,500…
Upgrade paint and wall finishings
A new tap, and possibly even a new kitchen sink are also very affordable options to give your kitchen a quick and affordable ‘facelift’.
Lighting is also a very affordable way to improve the look and the function of your kitchen space. For a very minimal investment, the new halogen light fixtures can illuminate your workspace while adding ambiance to your kitchen. Small under the cabinet halogen pot lights take up little space, and can add a modern flair.
Lighting upgrade
If you’re not sure what’s worth doing or where to start, call Paige Guernsey direct at 250-862-6464. A great source of information, I can tell you what improvements will show well to prospective buyers in the future.
