Transport Canada – Check in at your own risk!
A hilarious spoof on Transport Canada and security protocols at airports…
Sincerely,
Jason Neumann, REALTOR®
Century 21 Assurance Realty Ltd.
Cell: (250) 808-7700
Office: 1-888-301-2121
KelownaRealEstateNews.com
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Kelowna,BC and Central Okanagan Foreclosure Listing Information for February 2010
There are currently 61 foreclosures (as of February 8,2010) amongst the entire listing inventory for the Central Okanagan. That is a decrease of 14 properties (-22.95%) in the foreclosure inventory from last month.
The foreclosure inventory breakdown is as follows:
2 Lots and Acreages (both at $115,000) with no pending sales
2 Manufactured Homes ($79,000 and $125,000) with no pending sales
31 Single Family Residential ($199,900 to $1.995 Million) with two pending sales
26 Strata Properties ($179,900 to $570,000) with no pending sales
In terms of January 2010 foreclosure sales there were a total of just 7 or a decrease of 10 properties from December 2009. There were 6 sales of single family residential homes ranging in value from $345,000 to a whopping $2,075,000 estate property. There was also one sale of a building lot in West Kelowna originally listed for $259,900 and sold 35 days later for $250,000. This lot sold in June 2007 for $429,000 plus GST so that is an overall loss of approximately 55.5%. The purchasing of single family dwellings continues to be the top priority for the buying public of foreclosure properties.
Here’s the breakdown for all residential sales in January 2010:
- A 3 bed/2 bath 2200 sq/ft. 1970’s built home in Rutland South listed for $350,000 sold 164 days later for $345,000 – 1.45% discount off list price
Current foreclosures of all Central Okanagan listings represent 1.65% of the total listing inventory!
Bottom line is there really is no guaranteed strategy to pick up foreclosure homes at greatly reduced prices. However, there is a trend for higher priced listings to take the greatest financial beatings at the hands of buyers in the courts. There are fewer buyers for the multi-million dollar foreclosure homes whereas the average homes in the $400,000 range are most sought after and competed for. Real estate investors are a savvy bunch and will patiently wait for the proverbial deal to come to them. Some buyers going to purchase these “Court Ordered Sales” are willing to battle it out in the courts and as a result are creating bidding wars in the process. 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
Sincerely,
Jason Neumann, REALTOR®Century 21 Assurance Realty Ltd.
Cell: (250) 808-7700
Office: 1-888-301-2121
KelownaRealEstateNews.com
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Make a difference by keeping your shoppi
Make a difference by keeping your shopping $’s here in the Okanagan and support local business. #Kelowna #Vernon #Penticton
Mortgage Document Checklist for Home Buyers
Whether you are considering buying a new home or refinancing your existing mortgage, important personal information and documents will be required by lenders. This checklist gives an overview of the necessary documentation that most Canadian lenders require prior to approving and funding a mortgage. By providing these documents in a timely fashion, you will help to ensure a speedy approval/renewal process:
Buying a home?
Information that describes the property you are purchasing:
___ Contract of Purchase and Sale Agreement*
___ MLS Detail Feature Sheet*
___ Property Disclosure Statement (PDS)*
___ Title search*
___ Strata property information: Form B, Meeting Minutes, Strata Fees* **
___ Name, address, telephone number of your solicitor/notary
Confirmation of your down payment:
___ Savings or investment statement from the last 90 days
___ Sale of an existing property – a copy of the sale agreement
___ Gift letter if down payment funds are from family, friend etc.
___ Withdrawal from RRSP through the Home Buyer’s Plan
Employment verification:
___ Copy of latest pay slip
___ T4
___ Letter of employment
___ T1 General and Notice of Assessment (NOA) if self-employed
Refinancing your home?
Information that describes your existing property:
___ Recent mortgage statement
___ Current homeowner insurance policy
___ Recent property tax statement
___ Legal description of your property
Additional information that may be required…
As part of your application process, you may be asked questions relating to what you owe and own. Some projected expenses relating to your property such as: taxes, heating costs and condo fees.
Once the lender has given final approval:
___ A void cheque for the account that the mortgage funds are to be debited from.
This checklist is by no means exhaustive as each lender has criteria that is important to them. Should you have any questions about applying for a mortgage or refinancing an existing property I am happy to refer you to some local mortgage brokers in your area.
*Your real estate agent will be able to provide these documents to your bank or mortgage broker.
**Typically required if purchasing strata titled property.
Sincerely,
Jason Neumann, REALTOR®Century 21 Assurance Realty Ltd.
Cell: (250) 808-7700
Office: 1-888-301-2121
KelownaRealEstateNews.com
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Congrats to the Saints! Well deserved fo
Congrats to the Saints! Well deserved for sure!!
On-side kick could be the winning play f
On-side kick could be the winning play for the Saints!
Household tips for the last weeks of winter
Inside:
- Keep doors and heating vents closed to rooms that are not in use
- Close the flue in your wood fireplace when not using it
- Don’t leave kitchen and bathroom fans running longer than needed – they draw heat from your home
- To prevent pipes from freezing in extreme temperatures, open hot and cold faucets just enough so that water can drip through
- NEVER bring a barbecue or external gas-powered heating source indoors to heat your home
Outside:
- Remove branches from locations where heavy snow and ice might accumulate and risk breakage
- Disconnect garden hoses from their water sources
- Keep a bag of salt or sand handy to prevent falls on walkways and driveways
- Invest in a small canister of lock de-icer for your home and car
- If you are normally not a active person, take it very easy when shoveling your driveway and other physical tasks that put stress on your muscles and heart
Sincerely,
Jason Neumann, REALTOR®Century 21 Assurance Realty Ltd.
Cell: (250) 808-7700
Office: 1-888-301-2121
KelownaRealEstateNews.com
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Parkinson Rec Centre reopens today with
Parkinson Rec Centre reopens today with free family swim for Kelowna residents from 2:30 to 5:00pm. http://ow.ly/14D6a
Polish Olympic Snowboard cross team arri
Polish Olympic Snowboard cross team arrives at Big White Ski Resort to train over next four days: http://ow.ly/14uiy
Attention first time buyers for Okanagan
Attention first time buyers for Okanagan real estate, 5 year fixed rate on quick close 3.69% Contact me for details: http://ow.ly/14qRX
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