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
There are a few homes in Kelowna that have some scary history behind them. A seller is not required anymore to disclose these stigma’s, like murder or suicide, to the buyer. Some buyers care and some don’t.
I rented a house not too long ago while we were building and there was definately some spooky things that happened there. Lights coming on in the middle of the night, apparitions moving around at night that were clearly visible, smoke alarms going for no reason. If you believe in ghosts, I’d have to say this “ghost” was friendly and had a sense of humor. My family was all aware of it being around but never had any fear. Here’s a list of 11 ways to “GhostProof” your house.
Need help selling your haunted house? Call Paige Guernsey direct at 250-862-6464 and get her 25 years experience selling real estate working for you.
I hear those words a lot from people 45 or better. They’re often looking for turn key living in smaller homes or townhouses in all different neighborhoods throughout Kelowna. There are many properties available catering to the older demographic as well as those that target the 55+ age group. With recent changes to the Strata Property Act, it’s possible now to have a registered age restriction as one of your by-laws, and it doesn’t have to be 55 anymore! You can register any age at all. This is great for folks who are looking for a quiet place to call home in Kelowna, and maybe have pets, or older children still living at home.
The 55+ restriction is still an all-time favorite with the security of knowing exactly who your neighbors are. In Kelowna, properties with these benefits vary from condo style homes to townhouses, and fully detached homes in gated communities. Ammenities vary widely as well.
If you’re looking for the perfect place to retire and wondering about your options for properties in Kelowna, call Paige Guernsey direct at 250-862-6464.
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.
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.
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!
The trick is knowing how to do it. Most people are under the impression that buying a property that’s in foreclosure is going to save them a lot of money… not necessarily so. For a purchaser, buying a foreclosure is quite different than buying a home through a normal arm’s length transaction. First of all, an accepted offer is what triggers a court date. If that offer happens to be yours, then any subsequent buyers wanting to bid on the home can attend the courthouse, find out what the original offer is (I know that sounds strange, but it’s public infomation), and show up on the court date with a higher offer in a sealed envelope. Secondly, there is no Property Disclosure Statement but rather a Schedule A from the bank or lender saying they don’t make any warranties on the property. It’s really very important to every buyer considering a foreclosure that they not only work with a realtor experienced around this process, but that complete a thorough fact finding mission about the home, property, and neighborhood.
Knowing your way around the foreclosure process.
There are so many small details surrounding the foreclosure or court ordered sales. This article is an example of things that can go wrong. If you’re wondering about this possible money saving route, please call Paige Guernsey direct at 250-862-6464. I’ve been involved in several foreclosures and can help you navigate the waters successfully.
The Realtors of the Central Okanagan Mainline Real Estate Board (OMREB) have been compiling stats each month on the profile of buyers. The July pie chart shows that a healthy number of buyers are moving up from their present home (about 31%) and a growing number of buyers are looking at recreational or investment property (almost 15%). That number is almost on par with the number of first time buyers out there. Looking at the pie chart for June 2011, the number of move up buyers was slightly lower than July at 27%. Interestingly the first time buyers were lower in July at 14%, down from 24% in June. It’s a great time to be a buyer in the Okanagan Valley. Below is a video on a great and successful strategy to use when looking to hammer out the best deal possible.
Looking for a great real estate agent? Call me on my direct line at 250-862-6464. Talk to you soon…
I often hear from people that Kelowna has expensive real estate. A couple months ago the most expensive condominium in Canadian history sold for $28,000,000! Wow… that’s pricey real estate. The penthouse at Toronto’s Four Seasons Hotel and Private Residences occupied the top floor of the 55 storey building and had over 9,000 square feet. Panoramic views, 12 foot ceilings, floor to ceiling glass gallery, 4 expansive corner terraces, and of course separate private staff housing is all included.
Lately Kelowna has had it’s fair share of luxury property selling with 9 properties this year so far selling over $2,000,000. Check out this Sheerwater sale that recently sold for a healthy $3,675,000.
Looking for a luxury property to call home in Kelowna? Call Paige Guernsey direct at 250-862-6464.
Recently a full side by side duplex sold on Highland Avenue in the Glenmore neighborhood of Kelowna. I analysed this property for investors and found there was potential to make a profit. The profit would involve renovating, stratifying, and selling each side separately. Check this video out and see how we did it.
If you’re wondering about investing in Kelowna real estate, call Paige Guernsey, an experienced Kelowna realtor for 24 years on my direct line at 250-862-6464.
There are a few homes in Kelowna that have some scary history behind them. A seller is not required anymore to disclose these stigma’s, like murder or suicide, to the buyer. Some buyers care and some don’t.
