Facts about today’s buyer

Posted by paige on October 17, 2011 | No Comments

First timers and move up buyers till lead the pack of purchasers heading for the finish line.

(Click on the image to enlarge).

The segment showing investors and buyers looking at recreational property has been slowly growing and last month was a solid 20% of home buyers in Kelowna.  Check out my last couple blogs dealing with investments and recreational properties.

Looking to invest or buy some recreational property?  With 25 years experience in Kelowna real estate, I can help find the perfect property for you. Call Paige Guernsey direct at 250-862-6464 today.

Talk to you soon…

Paige

Vacation Property

Posted by paige on October 5, 2011 | No Comments

SAVARY ISLAND

For a few years, my family would make the big trek north to a beautiful little island called Savary.  To get there took a long time and finally when you couldn’t drive any further in Lund, BC you’d load up the water taxi for the final leg to the shores of this island made mostly of sand.  The island is about a kilometer wide and 8 km from one end to the other.  There were no cars allowed on the island (although there were a few… maybe 3!) and the only wildlife was deer and bees.  Bikes were used as the main source of transportation and power was by propane.  The cabin we stayed in was fantastic. Tucked into the woods, the large open plan could easily accomodate the 6 of us.  We had a good sized kitchen 3 bedrooms, 1 bathroom, a loft and a huge deck outside.

WHAT ABOUT OKANAGAN WATERFRONT FOR $350k

I’m sharing all this because recently I came across a lot currently available to buy on Kalamalka Lake in Vernon.  This lot also has a dock attached and in the summer, the dock is really the only thing that’s important! A beautiful and scenic drive from downtown Vernon takes about a half hour.  Power is by way of propane and water is lake intake.  This beautiful spot reminds me so much of Savary Island.

Away from the hustle and bustle – YES

Waterfront property on a large, clean lake – YES

Can I swim and waterski – YES

Is there a dock – YES

Close to big city ammenties – YES

Can I think of a good reason to seriously look at buying this – YES

Are you considering a recreational property ?  Call me, Paige Guernsey, a full time experienced realtor in the Okanagan Valley on my direct line. 250-862-6464.

Talk to you soon…

Paige

Looks like a winner!

Posted by paige on September 22, 2011 | No Comments

Investing 101

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.

Talk to you soon…

Paige

Buying a furnished lake view?

Posted by paige on June 8, 2011 | No Comments

One of my associates at Coldwell Banker Horizon Realty was able to save her clients $900 in HST when they bought their beach front condo at The Lagoons in Kelowna recently.  The beautifully upgraded 2 bedroom 2 bath condo with a south west view of Lake Okanagan sold for $415K INCLUDING the furnishings.  The buyers Realtor   was prudent and checked with an accountant regarding the HST and the furniture.  If the furniture is included in the body of the contract with a dollar amount assigned to it, it is fully taxable.  If however, the furniture is listed on a separate document including what it sold for… not taxable.  So you might be wondering… What about the fridge, stove, washer, dryer I want to include in my offer to purchase?  They are considered the “mechanics” of a home and don’t usually have a specific dollar value attached to them in the contract. Not taxable.

Have a specific real estate question? Call me on my direct line at 250-862-6464.

Talk to you soon…

Paige