South Okanagan Real Estate Guide June 2019

June 27, 2019, SOUTH OKANAGAN • BOUNDARY COUNTRY REAL ESTATE 1

June 27, 2019

G U I D E

SOUTH OKANAGAN | BOUNDARY COUNTRY

TIMES OSOYOOS

2 SOUTH OKANAGAN • BOUNDARY COUNTRY REAL ESTATE, June 27, 2019

BARB PASTERNAK REALTY SOLUTIONS

Spotted Lake, Osoyoos

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

250-485-8081

seebarb@gmail.com www.osoyoosrealestatehomes.com

NEW PRICE

MLS® 175845

MLS® 178852

OSOYOOS

OSOYOOS

55 Harbour Key Dr. LAKEFRONT MANSION. East, South & West facing views, 80 ft of waterfront complemented by manicured grounds, sandy beach front, great swimming & boating area. Concrete parking for RV, Boats, trailers or up to 5 cars, plus 2 car garage. $1,450,000

9314 6th Ave. ATTENTION CAR GUYS!! COVERED PARKING FOR OVER 12 CARS! Quality GENTLEMAN’S ESTATE OVERBUILT TO LAST A LIFETIME! Custom built 2500 sqft executive style adobe style home just 9 years young!. 4 Acres Conveniently, located near US border & features 15x38 Olympic sized pool surrounded by stamped concrete patios all the way around covered pagoda. The kitchen bolsters stainless steel High-end kitchen Aid appliances ,Alder Custom cabinets, Granite counter tops throughout, all sorts of additional features built in. 778 sqft double garage attached to house with direct entry. $2,100,000

MLS®172111

OPEN HOUSE

OPEN HOUSE

MLS®178593

MLS® 177439

Fri June 28 , 3pm-6pm Sat June 29th, 1pm-3pm th

Fri June 28th, 1pm-3pm

OSOYOOS

OSOYOOS

OSOYOOS

11710 LaCosta 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. $670,000

58-7600 Cottonwood Dr. Spacious open concept 4 Bedroom 3 Bath end unit WATERFRONT Townhouse!

The floor plan has a ground level master + ensuite, and 2 bedrooms + full bathroom upstairs, custom kitchen with granite countertops & stainless steel appliances $549,000

312 7600 Cottonwood Dr. LAKEFRONT SMOKE-FREE COMPLEX! One bedroom unit with low strata fee of $ 216 per month includes hot water, gas for the fireplace, hot tub/pool, & exercise room, guest suite, elevator, underground parking, security gate with intercom. $239,900

OPEN HOUSE

MLS® 175845

OPEN HOUSE

MLS® 178599

Sun June 30th, 3pm-5pm

Sun June 30 , 1pm-3pm th

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 with no rentals, one small pet. $369,000

MLS® 171728

MLS® 177844

MLS®177216

20-9410 115th St. Pool, Hot tub, Exercise room, Rec. hall, 55+ Gated community for $80.00 strata fees. Plus 3 bedrooms 2 baths, family room plus living room. New Stainless steel kitchen appliances, new furnace, and flooring. $379,000

MLS® 172352

OSOYOOS

OLIVER

OSOYOOS

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

6444 Badger St. CHARMING RANCHER ON LARGE LOT NEAR HOSPITAL. Great for retired couple. Private fenced back yard w/ lots of room for gardening. 3 bedrooms, 1 bath, main floor laundry. Large Shed that can be used as a work shop. Many upgrades done home.

A must see huge .25 acre lot. $413,999

102-8006 Vedette Dr.This Open concept condo, feels like a Rancher with a front door and back door, with a private garden area. Spacious master bedroom with large closets and 4 piece ensuite. Heated softened water, newer appliances, & upgraded flooring.

Over 55 complex with small pet allowed $239,000

MLS® 177717

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, Original, Linwood Cedar home with vaulted ceilings in the living room, fabulous open concept designer kitchen, natural stone fireplace, newer flooring throughout. Additional detached 3 car insulated and heated workshop. Covered separate RV parking, covered gazebo, tool shed. Nice flat useable land with highway visibility. Lots of parking and room for all your toys! $675,000

MLS® 178963

OSOYOOS 312 6805 Cottonwood Dr. Care free condo living in THE PALMS BY THE LAKE! Beautiful MOUNTAIN VIEWS! Over 1200 sq ft, two bedrooms two baths with GAS FIREPLACE in the living room. $319,000

MLS® 179179

NEW

RURAL

OSOYOOS

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

4 Swan Cres BRIGHT AND CHEERFUL IDEAL FAMILY home with potential to construct an in-law suite or Mortgage Helper. Located close to downtown, schools and Lakefront Parks. This larger 4 bedroom upper living home is priced accordingly as renovations will need to be completed. $399,900

June 27, 2019, SOUTH OKANAGAN • BOUNDARY COUNTRY REAL ESTATE 3

g n i y u B ? g n i l l e s or

S O UTH O K ANAGA N

Real Estate

TIMES OSOYOOS

G U I D E

DISTRIBUTED THROUGHOUT OSOYOOS

ALAN CZEPIL Lawyer

Phone: 778-476-1061

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

WHEN YOU NEED EXPERIENCED ADVICE

250 495 7225

ADVERTISE in our BUSINESS DIRECTORY Contact Terry-Lynn

250-495-7225

View our latest Real Estate Guide at: www.osoyoostimes.com

4 SOUTH OKANAGAN • BOUNDARY COUNTRY REAL ESTATE, June 27, 2019

ECONOMICS Commercial Leading Indicator June 2019

CLI POINTS TO STABILIZING COMMERCIAL ACTIVITY IN 2019 Q1 The BCREA Commercial Leading Indicator (CLI) rose by 1.3 points to 135.2 in the first quarter of 2019. Compared to this time one year ago, the index is 1.1 per cent higher.

Slowing provincial economic activity continued in the first quarter of 2019, with losses in wholesale trade more than offsetting gains in retail trade and manufacturing.

Similarly, employment losses in manufacturing outweighed gains in office employment.

The financial component of the CLI turned positive in the first quarter of 2019 due to increasing credit spreads and rising Canadian REIT prices,

of 2019. The economic activity component of the CLI

while the economic activity and employment

posted a third consecutive quarterly decline, led by the

components of the CLI were negative. The

personal and household goods, and building material

underlying trend in the CLI has been relatively

and supply components of wholesale trade.

flat over the past three quarters, signalling a

Employment in key commercial real estate sectors

stabilizing growth environment for commercial real estate activity.

was mixed. Office employment in finance, insurance, real estate and leasing was up by 5,900 jobs in the first

Following several years of robust growth, the

quarter of 2019. This measure of office employment

BC economy continues to slow in the early part

now sits at an all-time high, which signals strong future

About the CLI The BCREA Commercial Leading Indicator was

demand for office space. Manufacturing employment, however, declined by 5,700 jobs and is now at its lowest level since the first quarter of 2017.

designed to forecast changes in broad commercial

The CLI’s financial component was higher as short-term

real estate activity. Our research shows that the

risks spreads fell and the benchmark for Canadian REIT

variables that compose the CLI reliably forecast BC

prices rose along with the wider equity markets. This

commercial real estate activity at a lag of two to four

likely reflects a recovery from the market sell-off at the

quarters. The index is revised each quarter due to

end of 2018 and a fall in bond yields making REITs more

revisions to the underlying data.

attractive. Risk spreads appear to be returning to more normal levels.

June 27, 2019, SOUTH OKANAGAN • BOUNDARY COUNTRY REAL ESTATE 5

BCREA Commercial Leading Indicator

June 2019

Quarterly Trends by CLI Components

Q1 Highlights: •

Economic Activity: Retail sales increased 0.5 per cent after adjusting for inflation in the first quarter. Wholesale trade fell for a third consecutive quarter, declining 1.9 per cent in real terms. Sales in the manufacturing sector rose by 0.9 per cent after two straight quarters of decline.

•

Employment: The CLI employment component was negative for the second consecutive quarter, as continued declines in manufacturing employment outweighed rising job

Variation in the Commercial Leading Indicator can be broken out into three distinct components:

»

The economic activity component of the CLI follows the overall trend in BC’s economy and reflects changes in economic variables shown to lead commercial real estate activity.

»

The employment component reflects changes in the commercial real estate environment, due to changes in the overall business cycle.

»

The financial component acts as an early-warning indicator from financial markets that could signal turning points in the commercial real estate market.

growth in the office sector.

•

Financial: The benchmark index for Canadian REITs increased 14.3 per cent in the first quarter, likely a result of falling bond yields making REITs more attractive. Risk spreads appear to be returning to more normal levels.

Send questions and comments about Commercial Leading Indicator to:

Additional economics information is available on BCREA’s website at: bcrea.bc.ca.

To subscribe to BCREA news releases by email visit: bcrea.bc.ca/news-and-publications/publications/ manage-subscriptions.

Cameron Muir, Chief Economist, cmuir@bcrea.bc.ca; 604.742.2780 Brendon Ogmundson, Deputy Chief Economist, bogmundson@bcrea.bc.ca; 604.742.2796 Kellie Fong, Economist, kfong@bcrea.bc.ca; 778.357.0812

Commercial Leading Indicator is published quarterly by the British Columbia Real Estate Association. Real estate boards, real estate associations and REALTORS® may reprint this

content, provided that credit is given to BCREA by including the following statement: “Copyright British Columbia Real Estate Association. Reprinted with permission.”

BCREA makes no guarantees as to the accuracy or completeness of this information.

S u i t e 1 4 2 5 , 1 0 7 5 W e s t G e o r g i a S t r e e t , V a n c o u v e r, B C V 6 E 3 C 9

|

Phone: 6 0 4 .6 83.7 702

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Email: bcrea@bcrea.bc.ca

6 SOUTH OKANAGAN • BOUNDARY COUNTRY REAL ESTATE, June 27, 2019

How to determine if downsizing is for you

As men and women retire or approach retirement age, many opt to downsize their homes. Such a decision can save older adults substantial amounts of money while also liberating them from the hassle of maintaining large homes they no longer need.

Downsizing to smaller homes or apartments is a significant step, one that homeowners should give ample consideration before making their final decisions. The following are a handful of tips to help homeowners determine if downsizing to smaller homes is the right move.

• Get a grip on the real estate market.

Downsizing is not solely about money, but it’s important that homeowners consider the real estate market before putting their homes up for sale. Speak with a local realtor or your financial advisor about the current state of your real estate market. Downsizing can help homeowners save money on utilities, taxes and mortgage payments, but those savings may be negated if you sell your house in a buyer’s market instead of a seller’s market. If you think the current market won’t get you the price you are hoping for, delay your downsize until the market rebounds.

• Take inventory of what’s in your house.

Empty nesters often find that their homes are still filled with their children’s possessions, even long after those children have entered adulthood and left home. If the storage in your home is dominated by items that belong to your children and not you, then downsizing might be right for you. Tell your children you are thinking of downsizing and

invite them over to pick through any items still in your home. Once they have done so and taken what they want, you can host a yard sale, ultimately donating or discarding what you cannot sell. Once all of the items are gone, you may realize that moving into a smaller place is the financially prudent decision.

• Examine your own items as well. Your children’s items are likely not the only items taking up space in your home.

Take inventory of your own possessions as well, making note of items you can live without and those you want to keep.

If the list of items you can live without is extensive, then you probably won’t have a problem moving into a smaller home.

If you aren’t quite ready to say goodbye to many of your possessions, then you might benefit from staying put for a little while longer.

• Consider your retirement lifestyle. If you have already retired or on the verge of retirement and plan to spend lots of time traveling, then downsizing to a smaller home may free up money you can spend on trips. And if you really do see yourself as a silver-haired jetsetter, then you likely won’t miss your current home because you won’t be home frequently enough to enjoy it. If travel is not high on your retirement to-do list but you have a hobby, such as crafting, restoring classic cars or woodworking, that you hope to turn into a second profession, then you might benefit from staying put and converting your existing space into a workshop.

Many retirees downsize their homes, but this decision requires careful consideration of a variety of factors.

5855 Christian Valley Rd Private Executive Ranch Estates, 2 stories, 5 bedroom home on 130 acres in the desirable Christian Valley, which includes a selfcontained guest suite. Fabulous barn and equipment shed as well as other outbuildings. This area is full of lakes on crown land for outdoor enthusiasts, hunting, fishing, quadding, sledding, horse riding to name a few. Potential for commercial tourism venture. $849,000

607 Central Avenue Located on a corner lot, this home has character and charm galore. Well kept rancher style 3 bedroom, 2 bathroom with full basement home on double lot. Situated on the banks of the Kettle River in the town of Midway. Wrap around deck to sit and watch or just relax. The garage is a huge over sized attached double garage Bonus.... RV parking at the side of the garage. $324,000

$849,000 6070 Christian Valley Rd

3260 Christian Valley Rd

First time offered for SALE. Custom built 5 bedroom home on 9.859 in the Christian Valley area on the banks of the Kettle River. Extremely well built including the double attached garage & over-height shop, any handyman, mechanic or toy collector would be proud to own. The raised beds in the fenced garden are enough to feed everyone and put extras in the very roomy custom root cellar..oh yes, there is a wine room too. $648,950

Hey there! Looking for a cute pristine house with a HUGE shop for all your toys or hobbies? There are more outbuildings too that you can fill up with your projects. This 5-acre property is just 1 hr south of Kelowna in the Christian Valley/Westbridge area. This would be an ideal family home or comfy retirement to spend time with hobbies. There is a small greenhouse to catch a jump on spring $439,000

Johni De Groot

250-446-6808

WESTBRIDGE

johni@vip.net

johnidegroot.com

June 27, 2019, SOUTH OKANAGAN • BOUNDARY COUNTRY REAL ESTATE 7

to extend e k i l ld u o w We us on n i jo o t n o i this invitat 9th, from 2 e n u J , y a Saturd our 2nd r o f , m p 3 o 10am t n Osoyoos o s e g a t t o Annual C & Shine. w o h S e k a L join us The o t e m o lc e s i sw ECvoetrtaygoenfseroim g your n i r b o s , t t n e tmhVpisacfautnionev feoxrCe’s iends. r f d n a B y l i faTmax Home

Only 20 Luxury Hillside Lakeview Homes Remain Retire to beautiful Osoyoos Lake. Over 220 homes sold!

The word is out that The Cottages on Osoyoos Lake is the best year-round new home community in the Okanagan Valley.

The Cottages includes a community centre with a gym, two pools and hot tubs as well as our private sandy beach and boat slips, there’s something for everyone. With over 220 homes sold, the remaining opportunities won’t last long.

With eight different home plans to choose from ranging in size from our modest 1,300 sf meadow homes to the exclusive 3,000 sf Meritage plan, there really is the perfect home for you.

We have several unique homes under construction and all homes can be customized to suite your needs. Please contact our sales team at 1.855.742.5555 or visit our website for a full tour.

Visit our Display Homes » 2450 Radio Tower Road, Oliver, BC See website for open hours.

1.855.742.5555 osoyooscottages.com

8 SOUTH OKANAGAN • BOUNDARY COUNTRY REAL ESTATE, June 27, 2019

A L L A N TAY L O R CELL 250-498-9886 www.allantaylor.ca

ROLLING HILLS WEST OF OSOYOOS

MAGNIFICENT VIEWS

AROSA RANCH

RESIDENTIAL/ COMMERCIAL

BRAND NEW HOME – 3,684 SQ.FT.

SOLD 18255 Highway 3

$1,250,000

-CLOSE TO SPOTTED LAKE - LEVEL ENTRY COUNTRY HOME -32.5 ACRES-2 WELLS -LARGE WORKSHOP

3619 TORREY PINES - STUNNUNG OPEN CONCEPT - WALK IN LEVEL - LOW MAINT. YARD - 2 BEDROOM + DEN / 3 BATHROOMS

$879,000

6760 Highway 3

$1,395,000.00

-160 ACRES, 5 BED, 5 BATH -HORSE STABLES, TRAILER SITES, CABINS -INCREDIBLE MOUNTAIN & VALLEY VIEW

CASA DEL LAGO

110’ WATERFRONT PROPERTY

#20-7600 COTTONWOOD DR -2 BED 3 BATH AND DEN TOWN HOUSE -STEPS TO A PRIVATE BEACH -SWIMMING POOL, HOT TUB

23 SOLANA KEY COURT - SOLANA KEY COURT – 2400 SF RANCHER - GORGEOUS BACK TERRACED YARD TO WATER - R.V. PARKING-PRIVATE BOAT LAUNCH

$995,000

$339,000

BUILD YOUR DREAM HOUSE

TOWNHOME - GORGEOUS LAKEVIEW

GREAT MOUNTAIN GETAWAY

$449,000

LOT 2, OLEANDER DR

$219,000

- LEVEL LOT - RANCHER / BUNGALOW/ 2 STORY - QUIET AREA, CLOSE TO AMENITIES

WATERMARK BEACH RESORT

#55 15 PARK PLACE

$610,000

- WALK OUT TOWNHOUSE - GORGEOUS LAKE & MOUNTAIN VIEWS - 2 BED/ 3 BATH

LAKE & MOUNTAIN VIEW

4801 OLEANDER DR - 3 BED AND DEN ON MAIN FLOOR - FORMAL LIVING ROOM AND FAMILY ROOM -DOUBLE CAR GARAGE AND RV GARAGE

$849,900

6202 89TH STREET

$689,000

- 3 BEDROOM / 3 BATH OVER 2500 SF. - LOW STRATA FEE’S - $185/ MONTH - CLOSE TO AMENITIES, DOUBLE GARAGE

INCREDIBLE! 1.75 ACRES

4305 HIGHWAY 3

1,950,000

- 2 RESIDENTS – WORK SHOP - PROFITABLE FRUIT STAND- 6000 SQ. FT. - 12,000 sf PRODUCTIVE GREENHOUSE

PERFECT LOT TO BUILD

11 Wren Place

126 DEERFOOT ROAD

$669,000

- EXCELLENT LEVEL LOT .31 ACRE - 3 MINUTES TO TOWN OF OSOYOOS - SMALL PONTOON QUIET CUT DE SAC

- COZY CABIN 11.4 ACRES ,POOL AND HOT TUB - BEST VIEW OF THE LAKE AND OSOYOOS - BUILD YOUR DREAM HOME

NEAR GOLF COURSE

11913 QUAIL RIDGE PL

$529,000

-VIEW HOME WITH LEVEL ENTRY - LAKE AND MTN VIEW - CLOSE TO GOLF COURSE

8317 68TH AVE

$698,000

- 3 BED/ 2 BATH ALMOST 1,700 SQ FT - IMMACULATE , BRIGHT AND CHEERY - 2 COMMERCIAL DOWN

PEBBLE BEACH LOT

4014 PEBBLE BEACH

$149,000

- BUILDING SCHEME - CLOSE TO DOWNTOWN AND GOLF - LAKE VIEW

$2,250,000

- ZONING-C4- 2 BLOCKS TO THE BEACH - GREAT LOCATION – LAKESHORE & HWY 3 - 9 ROOMS, VALUE MOSTLY IN THE LAND

#209 - 15 PARK PLACE

$309,000

- 1 BEDROOM - VIEW TO LAKE - RENTAL POOL FOR INCOME - CENTER OF DOWNTOWN ON THE LAKE

$779,000

- LAKE & MOUNTAIN VIEWS - 4 +Den/ 4 Bath -APPROVED SUITE with LAUNDRY

WONDERFUL VIEW

SOLD 3821 35TH STREET - 3 BEDROOMS ALL ON THE MAIN LEVEL - 32 ’X 19’ SALT WATER POOL - NEWER KITCHEN APPLIANCES AND MANY UPDATES

$579,000

CUSTOM HOME /BOUTIQUE CIDERY WATERFRONT – OVER 200’ OF BEACH

14014 HWY 97

$2,595,000

-5 BED/3 BATH 4000 SQ FT CUSTOM HOME -6.2 ACRE ORCHARD WITH CIDERY BUSINESS -SEPARATE GUEST SUITE AND RV PARKING

GROUND FLOOR POOLSIDE

113 4200 LAKESHORE - 2 BED 2 BATH AT WALNUT BEACH - IN-SUITE LAUNDRY , FULLY FURNISHED - GAS FIREPLACE/ GROUND PATIO

$319,900

1.6 ACRES – GREAT MOTEL/HOTEL SITE WATERMARK BEACH RESORT FRUIT PACKING BUSINESS

5501 HIGHWAY 3, OSOYOOS

11903 LA COSTA LANE

3719 62nd Ave

$7,850,000

-VERY SUCCESSFUL FRUIT PACKING BUSINESS -34,000 SQFT MULTI PURPOSE BUILDING FOR STORAGE AND FRUIT PROCESSING -13.5 ACRES -INCLUDING 3,021 SQFT HOME

8000 COTTONWOOD DR

$4,900,000

- CURRENTLY ZONED C-D7 – HIGH DENSITY - RESORT OR MULTI FAMILY DEVELOPMENT - ALL SERVICES IN PLACE - WALK TO ALL AMENITIES

HOME/ORCHARD 6.2 ACRES

14014 HWY 97

$2,295,000

- 5 BEDROOMS /3 BATH 4000 SQ.FT HOME - BEAUTIFUL VIEWS- VALLEY & MOUNTAINS - SEPARATE GUEST SUITE/STORAGE/PARKING

LAKE & MTN VIEW BUILDING LOT

11915 LA COSTA LANE

$179,000

- 1/4 ACRE LOT, BUILDING SCHEME -PERFECT FOR A LEVEL ENTRY WALK OUT BASEMENT HOME