South Okanagan Real Estate Guide November 2019

November 14, 2019

G U I D E

SOUTH OKANAGAN | BOUNDARY COUNTRY

TIMES OSOYOOS

2 SOUTH OKANAGAN • BOUNDARY COUNTRY REAL ESTATE, November 14, 2019

BARB PASTERNAK REALTY SOLUTIONS

Spotted Lake, Osoyoos

MLS® 172111 MLS®172111

REALTOR®

Each office independently owned and operated

8507 Main St, Osoyoos, BC Office: 250-495-7441 Toll free: 1 866 495 7441 Fax: 250-495-6723

REDUCED

250-485-8081

seebarb@gmail.com www.osoyoosrealestatehomes.com

MONEY MAKER

MLS® 179357

OSOYOOS

OSOYOOS 11710 La Costa Lane Outstanding renovation upgrades include hickory cabinets, quartz countertops, stainless steel appliances, tiled backsplashes, all new lighting in kitchen make it so inviting! There is a double garage for your toys or for the man/ woman shop. The views stretch out from Osoyoos Golf course spreading east to Anarchist Mtn. and south beyond Haynes Point neighboring the American Border. The house is upper living with a unique feature of being able to drive up to the backyard. Making top floor easy access. Take the time to stargaze with a tall drink, in the hot tub, on your terrace. $650,000

MLS® 177791

8504 68th Ave. Money Maker! Located near school and Sonora centre . Close to Downtown, Beautiful Mountain views. R7 multiple dwelling zoning. Well kept,clean, 3 bed 2 bath upper living Family home. With 2 bedroom self contained separately metered suite on lower level presently rented for 800 plus utilities year lease. Bachelor studio separate entry 300 mo include utilities. Additional Cottage on property rented for 650 per mo include utilities. Upper unit can be rented aprox 1200 to 1400 per mo. Chair lift, newer appliances, flooring, blinds, dura decking. 10 x12 back deck. Measurements taken off plans please verify if important to you. $699,000

NEW

REDUCED

MLS® 181312

MLS® 177717

D L O S

OSOYOOS 5-9107 62nd Ave Permanent residence for the family, Affordable housing with pool, year-round hot tub, and saunas make this complex one of the best opportunities for families looking for two bedrooms two bath accommodations. New flooring & kitchen = move in ready. Complex has NEW WINDOWS, STAIRS, & ROOF. $210,000

MLS® 175845

301 9307 62nd Ave 3 Bed 2 Bath, 1300 sq ft Rentals allowed. Pet allowed no age restrictions. Pool strata fees 294.00 per mo. $319,000

MLS® 178599

REDUCED

REDUCED

OSOYOOS

OSOYOOS 1-9400 115th St. This delightful home features 2 bedrooms plus a den bright with a multitude of upgrades.

New Stone Coated Steel roof system with 50year warranty. New furnace and air conditioner, tankless water heater, new water softener. All New stainless steel appliances pkg cost close to 6k., with New soft close, white kitchen cabinets with quartz countertops. Over 55 and one small pet. $369,000

MLS® 177216

117 Maguire Rd. A COUNTRY RETREAT OR A FABULOUS HIDEAWAY FAR FROM THE HUSTLE AND BUSTLE OF BUSY CITY LIFE. The twenty acres embrace panoramic Osoyoos lake views stretching from the American border to the north end of Osoyoos Lake along with the stunning sunsets over the Cascade Mountains. $779,000

MLS® 180431

MLS® 174316

REDUCED

OSOYOOS

13969 Old Richter Pass Rd Professionally Landscaped complete with POND, Babbling Brook smf Waterfall cascading down to Five Acres of country living with excellent well and water. Fully renovated level entry super clean, Rancher, 3 bedrooms 2 baths, Additional detached 3 car insulated and heated workshop. $675,000

20-9410 115th St. Desert Rose Estates Complex. Pool, Hot tub, Exercise room, Recreational hall, over 55 Gated community for only $80.00 strata fees. Plus 3 bedrooms 2 baths, family room plus living room. Huge kitchen with pantry, partially covered decks with Lakeviews. Single car garage with additional parking in the side. 1480sq ft on main. New Stainless steel kitchen appliances. Laundry room washer and dryer. New furnace, and flooring. East south facing. $329,000

MLS® 178963

REDUCED

MLS® 172904

RURAL

RURAL

RURAL

4003 Pebble Beach Dr. STOP RIGHT HERE AND CHECK OUT THIS PROPERTY!! Absolutely gorgeous views from the building site. Perfect for a level entry with walk out basement. Steps to Golf and close to all amenities. No building timeline so buy now, build later. Not many of these awesome lots left!! $199,000

3 Hallis Rd. REMARKABLE LAKEVIEWS! Just moments to town east on hwy 3 in a very upscale area of homes that are well over the Million dollar mark. Seller is Home Builder and will build to suit or choose the Builder of your choice, no time limitation for building. Buy now! build when you retire. $368,000

380 Sasquatch Trail Sweeping Mountain views far away from highway noise nestled amongst the pine trees. Great price for a nice level building site with well on property. Reasonable taxes. High-end area of Regal Ridge with many million dollar homes. Buy now build whenever no time limit. $173,800

NEW

OSOYOOS 8043 Vedette Dr. PRICED BELOW ASSESSED VALUE! FAMILIES WELCOME! LOCATED ON PEANUT LAKE. in Sunny Osoyoos. Great place for young professionals, artists, and persons who love to meditate and do yoga. Provides you with 3 private decks, covered carport, storage shed and 2 car tandem parking. Over 1600 Sq ft of living space on 3 levels. Nice sized laundry and storage in the walkout basement. Two Pets allowed no rentals, no age limit. $259,998

MLS® 180384

NEW

OLIVER 5840 Columbia St. COUNTRY IN THE CITY! This home checks all the boxes,town water and sewer huge 7841 sq ft lot. of all useable private space 20 x 30 detached shop, with additional 10 x 12 fully insulated shed. Parking for RVs, Boats, Trailers in secure fully fenced gated yard. The house has some hardwood floors 4 bedrooms, 3 baths.kitchen has been updated with well kept custom cabinets. $399,000

November 14, 2019, SOUTH OKANAGAN • BOUNDARY COUNTRY REAL ESTATE 3

Yaletown Look in Central Osoyoos

19 Raven Court & 7008 Wren Drive Other Homes Available

FEATURES N 6 Appliance

Realty Solutions

EILEEN MCGINN

250-689-8809

www.osoyoosproperties.ca

N 3 Bed/3 Bath N NO Strata Fees N Over 1900 sq. ft.

N 10 Year New Home Warranty N Double & Single Car Garages N Best Value in Osoyoos

Meadowlark Subdivision

Starting at $465,900.00

BCREA Housing Forecast

4 SOUTH OKANAGAN • BOUNDARY COUNTRY REAL ESTATE, November 14, 2019

BCREA Housing Forecast

THOMPSON-OKANAGAN MLS® home sales in the Thompson-Okanagan region, serviced by the Okanagan Mainline Real Estate Board, South Okanagan Real Estate Board and Kamloops Although tax policy and mortgage rules are a and District current Real Estate Association, are on pace for drag consecutive on demand,down the favourable regional demographic a third year as markets absorb factors demand from both the impactsupporting of the B20housing stress test and the provincial millennial tax. households and retiring baby boomers speculation should translate to strong home sales in 2020.

Like most markets around the province, home sales in the Okanagan Mainline and South Okanagan struggled in the first few months of the year, as rising mortgage rates compounded the negative effects of the stress test. However, a rapid and substantial decline in Canadian mortgage rates helped spur a recovery in the late spring that has sustained into the fall. Because of the slow start to the year, sales in the Okanagan Mainline are projected to fall 1.4 per cent in 2019 to 7,300 units, while sales in the South Okanagan are forecast to fall 9.3 per cent to 1,710 units.

In contrast to the Okanagan, home sales in the Kamloops area have been trending lower for much of the year. However, as a more affordable region, home sales in Kamloops were not as hard hit by the in the Okanagan Westress are forecasting MLS® sales B20 test and therefore do not have as much Mainline boardup area to rise 4.1toper cent in level 2020of to ground to make in returning a normal 7,600 units. In the South Okanagan, we expect a 5.3 sales activity. per cent increase in MLS® sales in 2020 to 1,800 units and in the Kamloops and District board area, we are projecting sales will reach 3,050 units in 2020, an increase of 5.2 per cent.

November 2019 November 2019 While local fundamentals are strong, the region also relies on demand from Albertan buyers, both for recreational and retirement property. In the Okanagan around Kelowna and Penticton in recent years, Mainline region, sales to Albertans has historically combined with softer demand, has led to rising composed up to 20 percent of total sales. That source inventory of new homes. The total number of new units of demand has been softer in recent years due to a completed but unabsorbed into the market now sits at number of factors, most prominently the struggling its highest level since 2012.

Alberta economy and the levying of a speculation tax on buyers in 2018.

Asout-of-province demand stabilizes around its long-run average, markets should fall into relative balance, leading to price growth that’s in-line with inflation. For that reason, we are forecasting the MLS® average price in the Okanagan Mainline area will rise 1.6 per cent in 2020 to $540,000, while the MLS® average price in the South Okanagan will increase 1.8 per cent to $437,800.

In contrast to the Okanagan, the Kamloops area remains deeply under-supplied. Total listings in Kamloops peaked in 2012 at over 2,000 total listings but have trended at half that level for the past three years. As a result, market conditions in Kamloops are very tight, as reflected by a 30 per cent increase in the MLS® average price since 2014.

Fortunately, the pace of new home construction in the Kamloops region has ramped up in recent years and The share of Canadian buyers from outside of BC fell those units are now completing, adding much-needed from nearly 25 per in 2014As tosupply 15 per gradually cent in 2016 housing supply tocent the region. following the crash in oil prices.

Thatinshare has since increases, we expect price growth the Kamloops fallen to to around 12 per following thepace imposition of region slow from itscent current elevated of 7 per the speculation in Kelowna and West Kelowna. cent in 2019 totax 1 per cent in 2020.

On the supply side, the inventory of listings in the Okanagan Mainline and South Okanagan were accumulating throughout most of 2019 but seemed to have plateaued in the spring months as demand recovered. However, significant new construction

Along with lower mortgage rates, housing demand across the region has been getting a boost from strong local economic conditions. The unemployment rate in Kelowna and the wider Thompson-Okanagan development region has been trending lower since mid-2018 and has even fallen below the provincial unemployment rate in recent months.

28

Copyright British Columbia Real Estate Association. Reprinted with permission.

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In addition to our Real Estate Guide by the Osoyoos Times published every month in the Osoyoos Times we offer a full compliment of November 14, 2019, SOUTH OKANAGAN • BOUNDARY COUNTRY REAL ESTATE 5 digital marketing solutions through our partner Digital Agency - KTW Digital.

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Utilize the most advanced online display ads around by advertising to people that search for houses online, people that have visited your website, reading content online relative to real estate and target people in any physical location.

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Terry Lynn Kovacs

ALAN CZEPIL

EMAIL: advertising@osoyoostimes.com

Lawyer

OFFICE: 250-495-7225

Phone: 778-476-1061

Website: www.czepillaw.ca Corporate • Commercial • Business Law • Real Estate Wills & Estate Planning • Estate Administration

WHEN YOU NEED EXPERIENCED ADVICE

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6 SOUTH OKANAGAN • BOUNDARY COUNTRY REAL ESTATE, November 14, 2019

November 14, 2019, SOUTH OKANAGAN • BOUNDARY COUNTRY REAL ESTATE 7

8 SOUTH OKANAGAN • BOUNDARY COUNTRY REAL ESTATE, November 14, 2019

T E A M H A RV E Y Your Your Real Real Estate Estate Team Team for for Outstanding Outstanding Service Service

Mary Harvey Harvey Mary

OSOYOOS OSOYOOS & OLIVER

DESERT DESERT OASIS ROYALLLEEPAGE PAGE OASIS ROYAL REALTY REALTY

250-408-4696 250-408-4696

www.outstandingrealty.ca www.outstandingrealty.ca

Unlicensed Unlicensed Assistant Assistant

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Jim Harvey Harvey Jim

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98 $ 9 $

“THE BEST BUILT HOUSE ON THE MARKET IN OSOYOOS TODAY”

“THE BEST BUILT HOUSE ON THE MARKET IN OSOYOOS TODAY”

SPECTACULAR VIEWS from this 3,120 sq ft custom designed rancher. The setting offers privacy and takes advantage of views to the west and south. 3 acres overlooking the lights of Osoyoos reflecting on Lake Osoyoos, the Cascade mountains behind.

SPECTACULAR VIEWS from this 3,120 sq ft custom designed rancher. The setting offers privacy and takes advantage of views Designed for and a discerning special features a large dedicated theatre room, the a chef’s kitchen that includes a full to the west south. 3 homeowner, acres overlooking the lights ofinclude Osoyoos reflecting on Lake Osoyoos, Cascade mountains behind. size fridge and full size freezer, bookending double wall ovens, induction cooktop and a quartz topped island built for entertaining.

Designed forsuite a discerning features include a large dedicated theatre room, a a soaker chef’s kitchen includes a full The master provideshomeowner, full views, anspecial oversized ensuite, double vanities and double shower, tub andthat 2 walk-in closets. size fridge and full size freezer, bookending double wall ovens, induction cooktop and a quartz topped island built for entertaining.

Construction includes steel clad exterior & roof, triple pane tilt and turn windows, 10' ceilings, 5' wide hallways, with 3' x 8' solid

The master core suitedoors. provides full views,How an oversized double vanitiesinsulation and doubleand shower, a soaker tub and 2 heat. walk-in closets.

Efficiency? about R50ensuite, wall and R80 ceiling in-floor hydronic radiant

www.430SasquatchTrail.com

Construction steel clad exterior & roof, triple pane tilt and turn windows, 10' ceilings, 5' wide hallways, with 3' x 8' solid For full 3D includes Tour, including floorplan, and “dollhouse” visit: core doors.

Efficiency?

How about R50 wall and R80 ceiling insulation and in-floor hydronic radiant heat. or call Jim @ 250-408-4696 for a private viewing.

www.430SasquatchTrail.com 00 DIVIDEND RIDGE GOLF CLUB ,9 9 NEW LISTING NEW LISTING 17 $ BUILDING LOTS 00

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NEW LISTING DIVIDEND RIDGE GOLF CLUB

GOLF COURSE BUILDING LOT

10,019 Sq Ft, easy to build lot with lake and mountain view. Price includes topo survey and complete set of building plans for an executive home with a great view.

MLS178426

GOLF COURSE BUILDING LOT

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Fully serviced with lake views, in golf course setting. Design and build your retirement dream home. No time limit 2 Spectacular building lots available. on building. Building guidelines in place Fully serviced with of lake views, in golf to insure quality development.

BUILDING LOTS

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NEW LISTING

GOLF COURSE BUILDING LOT

10,759 Sq Ft, easy to build lot with lake and

GOLF COURSE BUILDING LOT

mountain view. Price includes Topographical course setting. Design and build your survey to assist with your dream home design. retirement dream home. No time limit Call for details.

MLS178879 on building. Building guidelines in place 10,759 Sq Ft, easy to build lot with lake and to insure quality of development.

0 mountain 00view. Price includes Topographical , 9 survey 8 to assist with your dream home design.

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SUNRISE COURT, Spacious and Private Ground Floor End Unit, 1,400 Sq. Ft., 2 B/r, 2 Bath, and a view of Osoyoos Lake from the dining room. $239,000.

MLS179999

WATERMARK, Luxury1 b/r suite, overlooking the lake, pool and waterslide. Private deck, fully furnished with a rental pool for income. $289,000.

MLS177129

MOUNT BALDY CHALET, Over 2500 Sq. Ft., SUNRISE COURT, Spacious and Private Ground 5 Bedrooms, 3 baths - a true mountain retreat. Floor End Unit, 1,400 Sq. Ft., 2 B/r, 2 Bath, and a

WATERMARK, Luxury1 b/r suite, overlooking the lake, pool and waterslide. Private deck,

MOUNT BALDY CHALET, Over 2500 Sq. Ft., 5 Bedrooms, 3 baths - a true mountain retreat.

Vaulted great room and fully turn key. $460,000.

MLS174042