There are a total of 63 foreclosures amongst the entire listing inventory.That is an overall change of 4 listings to the overall inventory from October,2009 to November,2009.
Current foreclosures of all Central Okanagan listings represent 1.53% of the total listing inventory!
The breakdown is as follows:
3 Lots and Acreages ($115,000 and $590,000) plus one pending sale
41 Single Family Residential ($250,000 to $2.295 Million) plus one pending sale
17 Strata Properties ($229,900 to $999,000)
There were some dramatic changes to the Central Okanagan foreclosure inventory this past month. There are eleven more residential homes on the market over September, which is a 36.67% increase! Strata based properties saw the reverse with a -29.4% decrease or five less listings. Currently, there are two pending sales on Kelowna foreclosure properties with one being a $270,000 building lot and the other a $1.699,000 residential home.
In terms of October foreclosure sales there were a total of eight for the month. One Glenrosa residential home sold for $302,500 after being on the market for 118 days at $314,000. Five strata sales ranging from $199,900 to $654,000 sold this past month. Two of these resulted in sales for over list price, which essentially means a bidding war or auction environment was created by the courts. Another two of these properties sold for 100% of list price. Of note two of these strata titled properties were located in Big White Ski Resort. Of the remaining properties the highest discount agreed to by the courts was -15.7% off of list price.
The continuing trend of foreclosure properties are selling at or near list price! Bottom line is investors and first time home buyers are starting to battle it out in the courts for these properties and it is causing bidding wars to take place. It is important to understand the foreclosure process and how the court system works for buyers interested in purchasing one of these properties.
If you would like more information on the court process or a detailed list of current foreclosures in Kelowna and/or its surrounding areas please contact me at (250) 808-7700 or jason.neumann@century21.ca
Why rent when you can own this updated Maplewood Gardens 2 bedroom 2 bathroom townhome for less? Perfect for the investor or first time home buyer! This family friendly townhome offers amazing value as a condo alternative with low strata fees, new furnace, new carpets, new countertops, new fridge, new stove and so much more! Nice floorplan with kitchen, living space/laundry room on the main level and bedrooms and bonus room on second floor. Living room features huge vaulted ceilings. Additional storage thru crawlspace access and storage area built beside the front door.
For 21 professional photos please visit: 645RutlandRoad.comor for more details call Jason Neumann of Century 21 Assurance Realty Ltd. at (250) 808-7700.
Proudly offered at $189,900 CDN.
Sincerely,
Jason Neumann,REALTOR® Century 21 Assurance Realty Ltd. Cell: (250) 808-7700 Office: 1-888-301-2121 KelownaRealEstateNews.com
Single Family Dwellings - 1858 properties including 12 pending offers
Strata - Condos - 1107 properties including 7 pending offers
Strata - Townhomes - 463 properties including 4 pending offers
Manufactured Home - 224 including 1 pending offer
Lots/Acreages - 852 properties including 3 pending offers
Total properties for sale - 4,765 (total inventory decrease of 5.79% from last month's report)
The real estate market in the Central Okanagan continues to show signs of growth with the overall absorption rate for all listed properties increasing to 7.59% or a 13 month supply.
The hottest segment of the real estate market in the Central Okanagan continues to be townhomes. There were 28 sales in September of 2008 compared to 62 sales in September of 2009. That accounts for a 121.43% increase in sales year over year and an absorption rate of 12.53% of the overall townhome inventory. Essentially, at that rate of sales there is enough supply for 8 months. Bottom line is if you are considering selling your townhome, this is great time as Buyers have certainly spoken on what they want for housing right now!
Residential homes have also seen some encouraging stats with 207 unit sales for September of 2009 compared to 129 at this time last year. That means a 60.47% increase in sales likely due to low interest rates and lower house prices this year versus last. Another statistic worth mentioning is the absorption rate increase of nearly 3% since August 2009. At this currrent rate of sales vs inventory there is a 7 1/2 month suppply. First time home buyers are certainly enjoying this market!
If you would like more in depth statistics or have any general questions please contact me at (250) 808-7700 or at jason.neumann@century21.ca
Tired of the same old scene on the coffee shop front? Had enough of standing in lines or waiting in drive-thrus just to get your cup of joe? Well then look no further than the Bean Scene in Kelowna's family friendly neighbourhood of Rutland. The Bean Scene is known locally for its great selection of specialty coffees including the ever popular "London Fog". Upon entering the doors to this coffee lovers utopia the beckoning and busyness of life seemingly evaporate after your first sip of heaven. Free wireless Internet, large seating areas and warm modern decor are all part of the overall experience as well. By the way, highly recommend the mocha!
The Bean Scene Coffee Works is located across the street from Rutland Centennial Hall (207 Rutland Road) just before the intersection of Hwy 33 and Rutland Rd. Hope to see you there!
Current listing inventory as of September 23,2009:
Single Family Dwellings - 2015 properties including 9 pending offers
Strata - Condos - 1159 properties including 8 pending offers
Strata - Townhomes - 480 properties including 7 pending offers
Manufactured Home - 228 including 3 pending offers
Lots/Acreages - 883 properties including 3 pending offers
Total properties for sale - 4,765 (total inventory increase of 1.47% from last month)
The hottest segment of the real estate market in the Central Okanagan are townhomes. There were 32 sales in August of 2008 compared to 70 sales in August of 2009. That accounts for a 94% increase in sales year over year and an absorption rate of nearly 14% of the overall townhome inventory! Essentially, at that rate of sales there is enough supply for 6 months. If you are considering selling your townhome, now would be a good time indeed!
There are a total of 56 foreclosures amongst the entire listing inventory.That is an overall change of 11 listings to the total number of foreclosures from August,2009 to September,2009.
Current foreclosures in the Central Okanagan listings represents 1.175% of the total listing inventory!
The breakdown is as follows:
2 Lots and Acreages ($399,000 and $590,000)
32 Single Family Residential ($250,000 to $2.295 Million)
22 Strata Properties ($189,900 to $999,000).
The biggest change to the foreclosure inventory was in strata properties. There were 10 listings last month and now there are 22 listed. That is a significant jump of 120% in a single month! There are currently no pending foreclosure properties being reported.
Total Year To Date Foreclosure Sales are:
1 Lots and Acreages for $264,500
23 Single Family Residential from $214,500 to $601,500
16 Strata Properties from $132,200 to $300,000
If you would like a detailed list of current foreclosures in Kelowna and its surrounding areas please contact me at (250) 808-7700 or jason.neumann@century21.ca
Certainly not your typical 2 bed/2bath Centuria home. Terrific open floorplan has had every upgrade including: granite counters,tile in baths, cork throughout and SS appliances. Corner unit with large deck and sweeping mountain/lake views!
Centuria offers all the amenities for today's urban lifestyle with: Outdoor Lap Pool with Hot Tub, Sauna and Steam Rooms as well as a state of the art Exercise Room. No need to go any further to buy your groceries then next door at Nesters Market or for your pharmacy needs be sure to visit Paragon Centuria. For after hours shopping and staple items there is a 7-11 conveniently located across the street.
Centuria is within mere minutes walking distance of Kelowna's thriving Downtown Core: Arts and Cultural District, Kelowna Museum, Kelowna Art Gallery, Kelowna Community Theatre, Ballet Kelowna and Rotary Centre for the Arts.
For 21 professional photos please visit: 709CenturiaUrbanVillage.comor for more details call Jason Neumann of Century 21 Assurance Realty Ltd. at (250) 808-7700.
There are few recreational homes that match the convenience and lifestyle of Pinnacle Pointe. This terrific 2 bed and den home is within walking distance to Quail and Bear golf courses with several hiking trails nearby. Building amenities include: outdoor pool and hot tub areas with gym and change rooms.
This home features open concept floorplan with large kitchen/eating area and abundant natural daylight. Tiled entryway, carpeted throughout, laundry in unit and two parking stalls (one indoor and one outdoor). Ideal for student life or retiree looking for quiet neighbourhood.
For 21 professional photos please visit: 1101PinnaclePointe.comor for more details call Jason Neumann of Century 21 Assurance Realty Ltd. at (250) 808-7700.
This incredibly priced home is offered at $339,000 CDN.
Single Family Dwellings - 2091 properties including 12 pending offers
Strata - Condos - 1073 properties including 3 pending offers
Strata - Townhomes - 505 properties including 8 pending offers
Manufactured Home - 229 including 1 pending offers
Lots/Acreages - 937 properties including 4 pending offers
Total properties for sale - 4,835 (total inventory increase of 0.62% from last month)
There are a total of 45 foreclosures amongst the entire listing inventory.That is an overall change of one listing to the total number of foreclosures from July/09 to August/09.
Current foreclosures in the Central Okanagan listings represents 0.9% of the total listing inventory!
The breakdown is as follows:
2 Lots and Acreages ($445,000 and $590,000)
32 Single Family Residential ($250,000 to $2.295 Million)
10 Strata Properties ($189,900 to $999,000).
There is currently one pending sale on a foreclosure property in the Joe Rich area.
If you would like a detailed list of current foreclosures in Kelowna and its surrounding areas please contact me at (250) 808-7700 or jason.neumann@century21.ca
Single Family Dwellings - 2113 properties including 8 pending offers
Strata - Condos - 1035 properties including 3 pending offers
Strata - Townhomes - 533 properties including 6 pending offers
Manufactured Home - 236 including 0 pending offers
Lots/Acreages - 915 properties including 5 pending offers
Total properties for sale - 4,832 (total inventory down 1.45% from last month)
There are a total of 46 foreclosures amongst the entire listing inventory.There was no change to the total number of foreclosures from June/09 to July/09. However, there was a 40% increase in Single Family foreclosures (up from 23 in June to 32 in July) and approximately a 30% drop in Strata Properties (down from 16 in June to 11 in July)
Current foreclosures in the Central Okanagan listings represent of the total listing inventory!
The breakdown is as follows:
2 Lots and Acreages ($445,000 and $590,000)
32 Single Family Residential ($225,000 to $1.874 Million)
11 Strata Properties ($179,900 to $990,000).
There is currently one pending sale on a foreclosure property at this time.
If you would like a detailed list of current foreclosures in Kelowna and its surrounding areas please contact me at (250) 808-7700 or jason.neumann@century21.ca
Amazing Investment Opportunity for the new home buyer or small business owner! Large lot with great highway access, plus a 10x15 insulated and vapour barriered shop. Ample yard space for boat, RV or small equipment!! The yard is fully fenced featuring a garden, shed, compost area and cherry tree. This perfect starter home has 5 bedrooms and 2 bathrooms with substantial renovations including: new paint, flooring, bathroom upgrades and more!
For 21 professional photos please visit: 1285Leathead.com or for more details call Jason Neumann of Century 21 Assurance Realty Ltd. at (250) 808-7700.
This incredibly priced home is offered at $315,000 CDN.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
The Bean Scene Coffee Works is located across the street from Rutland Centennial Hall (207 Rutland Road) just before the intersection of Hwy 33 and Rutland Rd. Hope to see you there!
Business ;)
;)
