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Friday, April 27th, 2012
Spring in the Okanagan
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Spring is fabulous everywhere I have ever had the good fortune to visit in my travels. I just have to say how much I love spring here in the Okanagan! BC is definately a wonderful place to live and my favorite place of all has to be Kelowna and area!
I just love it!
Right now the cherry trees are blooming and of course the crocuses, hyacinths, and other early bloomers are up and about. The birds are back..actually have been back for a while! Robins, all kinds of little tweeters, finches, and so on, the quail are running around looking so funny, and there are even the showoff pheasants poking about calling for mates. What a fabulous place to live!
On a spectacularly sunny day like today so many people are out and about enjoying the lakefront area of Kelowna, walking, rollerblading, picknicking. If you lift your gaze to the surrounding mountains you won't believe you can still see snow! this is the perfect afternoon to go downtown and meet some friends on the patio...hmmm now I am giving myself ideas! Oh yes, then there is the shopping, there are some lovely quaint little shops in the downtown core.
You know the saying, "There is no place like home?" let me tell you my slogan and I bet you will know why I chose it.."Bringing You Home to Beautiful Kelowna, British Columbia!"
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Posted by: Carmelita Obradovic at 3:31pm
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Wednesday, April 11th, 2012
What does 400K get you in Canada?
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The average selling price across Canada in February 2011 was $372,763. Wondering how the market here in Kelowna and the Sunny Okanagan compares?
Heres an excerpt from the March news release from the Okangan Mainline Real Estate Board:
"Kelowna, BC – The Okanagan Mainline Real Estate Board (OMREB) reported March 2012 sales activity of all
MLS® property types declined compared to the same month last year but improved over the first quarter of
2011 and from last month (February), as the housing market continues to strengthen going into spring.
“Home sales were steady in the Okanagan‐Shuswap during March with some fluctuations depending on the
community and the housing type,” says Rob Shaw, an active REALTOR® in the North Zone and OMREB
President. “Continuing to trend on long‐term averages, the modest rise in unit sales reflects the gradual
growth in the economy and points toward a brighter seasonal market ahead.“
What does that mean for house prices?
In March 351units sold, (houses, condos, etc) of 4,767 active listings...average days on the market 123 days to sell, average condo selling price is $226, 365, average townhouse selling price is $319,861 and the average house price is $456,568.
The average price varies per type of residence of course but compared to last year housing prices are down by aproximately 7%, apartments are down by about 4% and mobile homes are up by 9%.
So what does this mean for the homebuyer/seller? Price and location remain the key factors when moving your home. The Okanagan remains a strongly desireable location for people, weather, activities, proximity to lake or mountain sports and so on will always be a draw. That leaves price the big question.
There seems to be a swing happening right now, low interest rates are definately stimulating the market, plus BC has a $10,000.00 new home/first time home owners grant in the budget. A recent survey of news headlines suggests there is cautious optimism that the tough times may be behind us. Does that mean it is moving from a buyer's market to a sellers? Hmmm, no crystal ball here unfortunately, but it does seem the swing may be coming around.
Here is an article that I would like to share showing you what $400,000 can buy you around Canada:
http://www.walletpop.ca/blog/2012/04/09/april-real-estate-round-up-what-you-get-for-400k-or-less/
If you are anything like me you love to look!
Have a great day!
Carmelita
Bringing you home to beautiful Kelowna, BC!
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Posted by: Carmelita Obradovic at 12:24am
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Wednesday, February 29th, 2012
Common Mistakes for Sellers to Avoid
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The biggest mistake I see sellers make in this market is to be hindered by the emotions that come with selling your home. It is very important for sellers to see the sale of their home as a business transaction, and this is one of the areas a competant Realtor can help you and help you maximize your home equity.
"It is very important for sellers to (keep) in mind that a real estate transaction is most likely the single largest financial transaction they will ever undertake," says Fiona Dogan, a realtor in the Rye, N.Y., office of Julia B. Fee Sotheby's International Realty. "It should be viewed and handled primarily as a business transaction, with cold, hard decisions being made on a financial and investment basis."
Here are some tips to help you avoid the stress of dealing with selling your home and may even make you money..interested?
1. Overpricing: I know sellers think that Realtors are only concerned with bringing the price down so they can get their commission and go home... but the fact is that the market determines the price of your home.. pure and simple. A Realtor compares other similar homes that have sold recently, and other similar homes listed to determine where your home is on the pricing grid. Buyers are educated and prepared..and they will not overpay for your house..would you?
Yes, your home is unique and beautiful and would be perfect for someone else, as it was for you, but the facts are that most people will discount your home without a viewing if they see that 3 bedroom homes in your neighbourhood are selling for $50,000, $20,000 or even $10,000 less. Pricing your house appropriately and in sync with today's market will get you attention right off the bat and could even result in multiple offers.
If you are stuck on a price because it is what you have to get, or if you are "testing the market", or even if you want to have room to negotiate, ...this is an ineffectual strategy for getting the best price for your home. Instead your home will become stale dated on the market and to get interest you may end up discounting the price even further than you would have initially.
2. Being Present at a Showing: Anxious sellers sometimes want to be at the home when there is a showing, whether to point out features they fear may be missed or to hear what potential buyer have to say about the home, location, price etc. but I strongly urge them not to be there and to leave the selling in the hands of the professionals. Here's why: buyers feel awkward speaking freely about the pros and cons of someone else's home. They are there to judge the value of the home and decide whether this home will fit their needs and if the homeowners are present this can inhibit them. You do not want someone feeling awkward..you want them to fell welcomed and to be able to see the space as their potential home.
3. Rejecting Early Offers: "Sellers be warned: The longer a property sits on the market, the worse the offers are likely to get, says Nick Jabbour, a New York City real estate agent and vice president of Nest Seekers International."
Once a house is on the market, it will receive the most attention in the first 2 weeks.
In today's market buyers are watching very closely, they are ready to make their move when they see the house they want. They are combing the MLS, and are on Realtor's alert lists watching for the right property, at the right price and we are seeing homes move within a very short period of time in this market.
Sometimes early bids run the risk of spooking sellers who worry they underpriced their properties. But Jabbour says you can tell the property was priced correctly when an early offer is near the asking price, as long as the asking price is in line with the market.
"Waiting for a better offer is counterproductive and can result in a property languishing," Jabbour says."
As a professional Realtor and experience negotiator I can help take the guessing out of the game,
4. Don't Take Offers Personally: By nature Real Estate transactions can be aggressive and confrontational..the seller wants the best possible price and the buyer the lowest. Negotiations can be very emotional. This is your home that you have loved and lavished time and money on..BUT remember!!, do not take the process personally, you have got to put yourself in the buyer's shoes and understand their strategy to get this house for the lowest possible price. For the buyer or the buyer's realtor to say "It does'nt have this, or we will have to change that.." is a negotiating strategy and not a personal comment on you.
As long as the negotiations are open, the price can and will change. this is where my strength and reputation for being a tough negotiator will come to bear for you. Every client I have had knows that I will fight tooth and nail to get the best deal for my client. You need a pitbull in your corner..talk to me. This is where my professional perspective and experience will guide you through a process that can be frought with anxiety. I have the training and experience you can count on.
And if you would like to know some things you can do to improve your home's appeal, here are a few suggestions: Ask your realtor to give you a feature sheet to leave out for the buyers to take with them and ensure the feature sheet highlights the features you want potential buyers to know about. Bake cookies prior to vacating the house..simple but very effective if you want the buyers to have a positive impression of home. Clean, declutter and freshen up, lock up any animals and ensure there is no lingering scent of litter etc. Look at the home from a buyer's perspective and try to create a welcomeing and yet "blank slate" so they can picture themselves living there. These are the most effective ways you can help your Realtor sell your property, get the most for your property and help you move on to the next step!!
Ciao for now! Carmelita
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Posted by: Carmelita Obradovic at 2:47pm
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Wednesday, February 22nd, 2012
HST transition in BC
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As always with government and taxation its never simple, but here is a breakdown on the HST transition:
The Province announced the HST Transition rules on February 17, 2012 as the Province transitions back to the PST/ GST system on April 1, 2013.
Used Residential Homes (most resales) are, and remain, exempt from HST.
1. Under the current system, there is no additional rebate for new homes greater than $525,000 – Effective April 1, 2012, for homes completing prior to April 1, 2013, this rebate threshold has been increased to $850,000, meaning that the maximum rebate available (for homes worth 850k) is $42,500. This provincial portion HST rebate will also be available to secondary or vacation residences located outside the lower mainland.
Effective HST on Homes (Primary Residence) - April 1 2012 to April 1 2013
| Purchase Price |
Gross HST (12%) |
Rebate Available |
NET Purchase Price |
| $100,000.00 |
$12,000.00 |
$6,800.00 |
$105,200.00 |
| $150,000.00 |
$18,000.00 |
$10,200.00 |
$157,800.00 |
| $200,000.00 |
$24,000.00 |
$13,600.00 |
$210,400.00 |
| $250,000.00 |
$30,000.00 |
$17,000.00 |
$263,000.00 |
| $300,000.00 |
$36,000.00 |
$20,400.00 |
$315,600.00 |
| $350,000.00 |
$42,000.00 |
$23,800.00 |
$368,200.00 |
| $400,000.00 |
$48,000.00 |
$23,150.00 |
$424,850.00 |
| $450,000.00 |
$54,000.00 |
$22,500.00 |
$481,500.00 |
| $500,000.00 |
$60,000.00 |
$25,000.00 |
$535,000.00 |
| $550,000.00 |
$66,000.00 |
$27,500.00 |
$588,500.00 |
| $600,000.00 |
$72,000.00 |
$30,000.00 |
$642,000.00 |
| $650,000.00 |
$78,000.00 |
$32,500.00 |
$695,500.00 |
| $700,000.00 |
$84,000.00 |
$35,000.00 |
$749,000.00 |
| $750,000.00 |
$90,000.00 |
$37,500.00 |
$802,500.00 |
| $800,000.00 |
$96,000.00 |
$40,000.00 |
$856,000.00 |
| $850,000.00 |
$102,000.00 |
$42,500.00 |
$909,500.00 |
| $900,000.00 |
$108,000.00 |
$42,500.00 |
$965,500.00 |
| $950,000.00 |
$114,000.00 |
$42,500.00 |
$1,021,500.00 |
| $1,000,000.00 |
$120,000.00 |
$42,500.00 |
$1,077,500.00 |
2. For new homes where construction begins before April 1, 2013, BUT where possession transfers after April 1, 2013, neither HST nor PST will be payable, but rather purchasers will pay a temporary, transitional provincial tax of 2% per cent on the full house price in addition to the GST payable.
3. Special Transition Tax Rebates will be available to real estate developers and home builders who commence a home prior to April 1, 2013 but where it is sold after April 1, 2013 to prevent double taxation based on the extent of completion on April 1, 2013.
| % complete April 1, 2013 |
Transition Tax Rebate to Builder |
Rebate (Ex: 500k Home) |
TTax Paid by Home Buyer (500k home) |
| <10% |
N/A |
$0 |
10000 |
| 10-25% |
1.50% |
7500 |
10000 |
| 25%-50% |
1.00% |
5000 |
10000 |
| 50%-75% |
0.50% |
2500 |
10000 |
| 75%-90% |
0.20% |
1000 |
10000 |
| >90% |
0.00% |
0 |
10000 |
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Posted by: Carmelita Obradovic at 4:18pm
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Friday, October 14th, 2011
Maximizing your Home equity
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For most of us, our home is our biggest financial investment and the best way to make the most of your home equity is often a subject for debate. To reno or not, and if so what investment will give you the best return is a question everyone has an opinion about!
I won't give you a whole lot of personal opinion, but I can let you know the facts..the facts that translate into cold hard cash in your pocket. Aside from renovating your home because you live there and this is your home, here are some number for you to consider when it comes to getting the best payback for your home renovating dollar.
In Canada, the Appraisal Institute has selected projects that their “specialists” feel offer the best potential for “payback” when selling. According to them, the average potential payback for different renovation projects is as follows:
interior painting and décor – 73% of cost recovered
kitchen renovation – 72%
bathroom renovation – 63%
exterior painting – 65%
upgrading flooring – 62%
replacing windows or doors – 57%
main floor family room addition – 51%
fireplace addition – 50%
basement renovation – 49%
furnace/heating system replacement – 48%
The Ontario branch of the Appraisal Institute also produced some interesting numbers. Average potential payback for renovations when a house is sold:
kitchen – 78%
bathroom – 71%
interior painting – 74%
exterior painting – 63%
main floor family room addition – 55%
central air conditioning – 52%
new heating system – 50%
new windows – 48%
finishing the basement – 49%
landscaping – 35%
energy efficient features – 33%
The numbers display some trends. It’s obvious that some rooms are better to work on than others. Work done to kitchens and bathrooms are the clear winners from amongst the surveys. The rule of thumb is that the kitchen should be renovated if it is more than 20 years old and the bathroom should be renovated if it is more than 40 years old.
In working on kitchens or bathrooms, it is worth considering just how much renovation is necessary, since, as we’ve seen earlier, you probably won’t get all your money back. Kitchen renovations generally start at about $10,000 – with the sky being the limit depending on your taste and the quality of what you install. Full kitchen renovations usually involve replacing the cabinets, flooring, countertops and appliances. Bathrooms generally cost no less than $5,000 to do, although that number can increase dramatically if you have to relocate plumbing and wiring (and if you have expensive taste with regard to fixtures).
Always remember and never forget..the best way to maximize your home equity when the time comes to sell is to call me!
have a great day!
Carmelita
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Posted by: Carmelita Obradovic at 11:41am
Tags: renovations, home equity, selling
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Thursday, October 6th, 2011
So many things to be Thankful for!
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Time flies so fast! Summer has come and gone..now fall and Thanksgiving!!
Always one of my personal favourite times of the year, it is so good to stop and say thanks for the many gifts in our lives. Everything from health and family..of course! to the freedom of living in a country like Canada and the beauty of living here in BC and in the Okangan.
One of the things I like the most about my job as a REALTOR is helping people find that special place they call home. I love how that word, "home" can make shivers of pleasure run up and down your arms. That is why I never take this job for granted and I believe it is a priviledge to be part of helping people in the process of hunting for the right home for them.
Wishing your family a wonderful safe and Happy thanksgiving!!
From my family to yours
~Carmelita
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Posted by: Carmelita Obradovic at 11:25am
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Tuesday, September 20th, 2011
Okanagan Living!
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I just had to share this picture taken this morning (Sept 20th) by Sharon Rainey, who works in the Realty Executives of the Okanagan office in Kelowna. Quite an amazing place to live! As I look out the skys are that perfect pristine blue that goes on forever, lakes still and calm, temps are forcasted to the mid 20s. The apples are being harvested as are the grapes and the wine festival is about to begin!!
This is one of the many reasons I am passionate about serving the Okanagan. It is a wonderful place to help people find that place they call home. I have recently listed a couple of fabulous Okanagan properties I would like to tell you about.
One is a single family home on Robina Court in Kelowna in Central Okanagan, beautiful home, fabulous private yard, virtually next door to a golf course, definately Okanagan lifestyle! take a look at this web page for pictures and more details: http://4039robiniacourt.stopthecarhoney.com/
The next is a fabulous investment property, close to the US border..129 Acres of pristine waterfront, just begging to be developed! more details here: http://915rosebudlakeroad.checkoutmore.com/
thanks for stopping by and if you should come to the fabulous Okanagan for a visit be sure to stop by!
Carmelita!
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Posted by: Carmelita Obradovic at 2:22pm
Tags: property, real estate, okanagan, for sale, fall, lakes, development,
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Thursday, September 1st, 2011
Happy Labour Day Weekend!
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We all work hard, and are so sad to feel the turning of Summer to Fall...I am a sun lover and I always feel a tinge of sadness when the days start to get shorter. ....sigh
Interesting enough the end-of-summer/beginning-of -fall is a wonderful time here in the Okanagan and things get really busy! Festivals, fairs and all the hustle of harvest and back to school really seem to give an air of excitement!
The town of Armstrong, just north of Vernon hosts the most wonderful fair..the IPE..Interior Provincial Exhibition, combination of old fashioned fair, rodeo and midway. Not to be missed!
Then there is the fruit, veggies, and produce that appears in the stands at the vineyardsand misc sides of the road..fabulous! So many different types of apples, your taste buds won't know what hit them. Spectacular time to buy beets, herbs, corn!! fruit and veggies of every shape and size all with a taste of the Okanagan sunshine.
If fairs and orchards aren't your thing... I gotta tell you this is the absolutely perfect time to visit one of the vineyards or spas!! Sparkling Hills is one of the newest spa/resorts in the Okanagan..not to be missed as well as Grey Monk vineyard..with free tastings! Plus those spectacular copper doors and view of Okanagan Lake, gorgeous place to stop for lunch.
Now has the plus that the back of the peak of summer is broken.. we still enjoy beautiful days, but the nights cool off offering the best of both worlds. Sunshine, water, relaxation,the bounty of the land, fun times, sports, wine, ...and... of course, and always the fabulous views!
Don't you think its time you thought about a visit?
http://www.epropertysites.com/usr/13/11/97/23/58/locker/bs-okanagan-v.jpg
Certainly these prices will not last long, the Okanagan is so affordable right now..call me and I will show you how this dream can be yours!
Carmelita..Happy Sept Long Weekend!!
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Posted by: Carmelita Obradovic at 2:27pm
Tags: september, ipe, okanagan, wine,apples, food, sunshine, spa, relax
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Wednesday, August 24th, 2011
Things to do in the Okanagan
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Kelowna, BC, is filled with special festivals and cultural events. There’s always a place to go and people to see. Head to a park filled with musicians and entertainers one day. Then catch a delicious wine festival the next.
For information, maps and current pricing, visit the Visitor Information Centre at 544 Harvey Avenue.
Click here to view our events calendar
Fat Cat Children’s Festival
Truly a community event, the festival is funded locally and operated by volunteers. With an exciting array of free activities and entertainment, the festival attracts more than 15,000 children, parents, and grandparents every year. Every year a theme is promoted to inspire unique and interesting activities, costumes, and entertainment.
visit website
Mardi Gras Street Festival
Mardi Gras is a great day under the sun, but the fun doesn’t stop at 5:00 pm. Many downtown restaurants and pubs have activities and themed events all through the evening. Plus, Kerry Park bursts with fantastic entertainment from "Parks Alive!” Several stages are scheduled with live family entertainment. There’s also a children’s activity zone including a dunk tank and climbing wall, and some of the hottest bargains under the sun from downtown retailers.
Okanagan Wine Festivals
There are three Wine Festivals held in the Okanagan Valley with many events taking place in Kelowna. Sample award-winning wines. Attend an educational seminar. Or, celebrate with live entertainment and wine paired with fabulous local cuisine. More information, including an event schedule, is available at the Visitor Info Centre.
visit website
Parks Alive
This non-profit program brings a touch of art and culture to Kelowna’s lakefront and parks in July and August. Throughout the summer, Parks Alive offers a variety of music and entertainment the whole family can enjoy. Plus, it’s free. For more information stop in at the Kelowna Visitor Info Centre to pick up a copy of the Parks Alive summer schedule.
visit website
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Posted by: Carmelita Obradovic at 1:54pm
Tags: kelowna, festivals, parks, lakes, wine, vineyard, family, vacation,
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Friday, August 12nd, 2011
First time home buyers!
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First Time Home buyers!!!
Did you know that you:
1- are excempt from paying the property transfer tax on properties up to $425,000
2- you are entitled to first-time home buyers' tax credit when claiming your income taxes
3- you can use up to $25,000 of your RRSP's tax free for purchasing your home
4- rates are VERY low and home prices down so now is a great time to invest in your own property!!!!
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Posted by: Carmelita Obradovic at 11:54am
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