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Open House. Open House on Saturday, July 13, 2024 10:30 AM - 12:00 PM

Please visit our Open House at 1126 Chapman Road in Okanagan Falls. See details here

Open House on Saturday, July 13, 2024 10:30 AM - 12:00 PM

True country living with full town convenience. This large family home with a full in-law suite sits on over an acre in a private rural setting in the quaint hamlet of OK Falls. An ideal hobby property for horse lovers, with a fully fenced and flat lot, large workshop, 2 paddocks and 2 heated auto livestock waterers. There have been many upgrades over the years including flooring, heat pump, windows, new carpets, and the roof, septic and addition were all done in 2014! The outdoor space provides a large patio wired for a hot tub, and large green pastures with firepit to enjoy with friends. All close to great hiking and ATV trails via Allendale Lake Rd! You will be impressed with the open and bright floor plan this 5 bedroom 3000 sqft homes has to offer. Excellent opportunity for a multi-use property 5 minutes from Okanagan Falls and 20 minutes to Penticton. Call for a detailed package and to book your showing today! (id:2493)

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Open House. Open House on Saturday, July 13, 2024 10:30 AM - 12:00 PM

Please visit our Open House at 114 4400 McLean Creek Road in Okanagan Falls. See details here

Open House on Saturday, July 13, 2024 10:30 AM - 12:00 PM

This meticulously maintained rancher in the quiet community of Bighorn Mountain Estates measures over 3100 sqft and has 4 bedrooms plus den and 3 bathrooms plus a bonus TRIPLE car garage and and in-law suite! Many upgrades over the years include exterior/interior paint, hwt, quartz counters, hot tub, auto solar screens, new landscaping and irrigation to name a few. The home immediately invites you with vaulted ceilings, fabulous open floor plans, exquisite master bedroom and spacious kitchen with large island, pantry, new appliances that opens onto the living/dining and patio area with natural gas connections and hot tub, perfect for entertaining your friends and family. Steps to fully fenced park, friendly neighbors, large grass common area with views of the town and access to great hiking trails. Only 15 minutes to Penticton and in the heart of wine country. Call today for an information package or to book your showing! CONTINGENT. (id:2493)

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Open House. Open House on Saturday, July 13, 2024 1:00 PM - 2:30 PM

Please visit our Open House at 8764 Palmer Place in Summerland. See details here

Open House on Saturday, July 13, 2024 1:00 PM - 2:30 PM

This bright modern rancher with walkout basement was built in 2017 measures over 2400 sqft and has 3 bdrms, 3 baths, with suite and double garage! The main level has great open layout that includes, beautiful contemporary kitchen with extra storage that opens onto cozy living room with inviting stack stone gas fireplace and covered deck, a large master bdrm, with walk in closet and fabulous 5PCE ensuite, and there’s a 2nd bdrm, 4PCE main bath, and laundry room with access to the attached 19’7 x 23’6 double garage. Below you’ll find a 1 bedroom suite, second tasteful kitchen, large rec room, additional 2nd laundry room and covered patio off the fenced back yard. Situated in a great neighborhood on a no thru road, with RV parking and stunning views of Giants Head mountain, close proximity to esteemed Unisus International School and fantastic hiking/biking trail. Call to view today! (id:2493)

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Open House. Open House on Saturday, July 13, 2024 12:30 PM - 2:00 PM

Please visit our Open House at 4441 MALLORY Crescent in Okanagan Falls. See details here

Open House on Saturday, July 13, 2024 12:30 PM - 2:00 PM

This 2200 sqft 5 bed, 3 bath family home has seen many upgrades over the years and is located on a quiet cul-de-sac with fabulous mountain views in OK Falls. The huge lot measures .217 acre and has underground irrigation, gardens, fruit trees, fire pit and loads of room to play or entertain. The house has recently seen new paint both inside and out and some new flooring, and the kitchen has beautiful maple kitchen cabinets, with large island/breakfast bar and black appliances. Great layout with 3 beds up including the master bedroom with a walk-in and 2 pc bathroom and 2 bedrooms below. This house is ideal for those growing families and is easily suitable. Call today for an information package or to book a viewing. (id:2493)

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Where was the spring market? Homebuyers continue to wait in the wings despite highly-anticipated first rate cut by the Bank of Canada

Nationally, home prices increased 1.5% on a quarterly basis in Q2 despite activity slowdown in major markets

Despite a strong first quarter for sales, Canada’s spring housing market was muted in many regions across the country in Q2 of 2024. Although the first cut to the overnight lending rate by the Bank of Canada in June generated much buzz among Canadians, the long-awaited drop did not translate into a noticeable return of homebuyers to the market. This hesitant approach from purchasers contrasts against rising inventory levels, which has resulted in more balanced market conditions as of late. 

Royal LePage® is forecasting that the aggregate1 price of a home in Canada will increase 9.0% in the fourth quarter of 2024, compared to the same quarter last year. Nationally, home prices are forecast to see continued moderate price appreciation throughout the second half of the year.

“Canada’s housing market is struggling to find a consistent rhythm, as the last three months clearly demonstrated,” said Phil Soper, president and CEO, Royal LePage. “Nationally, home prices rose while the number of properties bought and sold sagged; an unusual dynamic. The silver lining: inventory levels in many regions have climbed materially. This is the closest we’ve been to a balanced market in several years.

“This trend dominates activity in two of the country’s largest and most expensive markets, the greater regions of Toronto and Vancouver, where sales are down yet prices remain sticky,” Soper continued. “There are exceptions. In the prairie provinces and Quebec, low supply and tight competition persist.”

Q2 reports modest uptick in home prices

According to the Royal LePage House Price Survey, the aggregate price of a home in Canada increased 1.9% year over year to $824,300 in the second quarter of 2024. On a quarter-over-quarter basis, the national aggregate home price increased 1.5%, despite a slowdown in activity in the country’s most expensive markets. 

When broken out by housing type, the national median price of a single-family detached home increased 2.2% year over year to $860,600, while the median price of a condominium increased 1.6% year over year to $596,500. On a quarter-over-quarter basis, the median price of a single-family detached home increased 1.8%, while the median price of a condominium increased 0.8%. 

Sustained high interest rates run risk of buyer rush

For the last two years, the national housing market has seen home prices fluctuate between modest declines and increases – with some regional exceptions – as a result of the impacts of higher interest rates. As the Bank of Canada cautiously navigates the delicate balance between lowering the key lending rate and keeping inflation in check, some segments of Canada’s housing market have stalled.

“Canada’s housing market faces pent-up demand after two stifling years of high borrowing costs. While inflation control is crucial, persistently high rates are increasing the risk of a surge in demand when buyers inevitably return. New household formation and immigration keep fueling the need for housing, and a sudden release could create much market instability. This highlights the need for a more nuanced approach that balances inflation control with economic vitality,” added Soper. 

Increased borrowing costs hamper new supply creation

Elevated borrowing rates are not only dampening housing market activity but also stifling the construction of new homes. Builders, who rely heavily on lending, are finding it increasingly difficult to finance new projects, exacerbating the country’s shortage of housing at a time when our population continues to grow.

“Canada’s housing market faces complex challenges. While raising interest rates was crucial to fighting inflation, it has unintentionally choked off the essential flow of new housing supply. Higher borrowing costs, coupled with labour shortages in the construction trades and rising material prices, have made it economically unsustainable for developers to launch new projects. This creates a perfect storm – our population is growing steadily, yet we’re building far fewer homes than what’s needed to meet that demand. This situation urgently needs innovative solutions to ensure Canadians have access to affordable housing options,” concluded Soper.

Read Royal LePage’s second quarter release for national and regional insights. 

Second quarter press release highlights:

  • Toronto and Vancouver report slower-than-usual market activity this spring as inventory builds, while demand continues to outpace supply in prairie provinces and Quebec  

  • Quebec City records highest year-over-year aggregate price increase (10.4%) in Q2 among report’s major regions

  • Royal LePage maintains national year-end forecast with prices expected to increase 9.0% in Q4 2024 over the same period last year 

  • According to a Royal LePage survey, conducted by Leger2 earlier this year, 51% of sidelined homebuyers said they would resume their search if interest rates reversed


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Open House. Open House on Saturday, July 6, 2024 10:30 AM - 12:00 PM

Please visit our Open House at 524 Upper Bench Road North in Penticton. See details here

Open House on Saturday, July 6, 2024 10:30 AM - 12:00 PM

Enjoy this one of a kind property on a private .23 acre lot located in the Gateway to our own Napa North - the Naramata Bench, tucked in right behind Munson Mountain, near top wineries such as Poplar Grove and Township 7. This 3300 sqft family home has 4 bedrooms,plus flex, 4 bathrooms, beautiful hardwood flooring, a brand new kitchen with high end appliances and a large 2 floor suite with full kitchen - updated appliances. The yard and views are incredibly inviting with a pergola, hot tub, beautiful gardens, and great water features. A wonderful place to call home, raise your family, relax with friends and soak up the Okanagan lifestyle. Call today for a full info package and to book your viewing. (id:2493)

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New property listed in Penticton

I have listed a new property at 62 98 Okanagan Avenue East in Penticton. See details here

Beautiful like new2 bdrm, 2 bath double wide in the Pines Mobile Home Park. Excellent location right across from club house and greenspace plus close to shopping, recreation, hospital and more. Open floor plan, skylite, lots of natural light, newer appliances, gas cook top, walk in shower and cozy gas fireplace. Affordable living in friendly park, 55 plus, small pet upon park approval, and 2 parking spaces. Pad rental $647.63 per month. Call today. (id:2493)

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Open House. Open House on Saturday, June 22, 2024 11:00 AM - 12:00 PM

Please visit our Open House at 4441 MALLORY Crescent in Okanagan Falls. See details here

Open House on Saturday, June 22, 2024 11:00 AM - 12:00 PM

This 2200 sqft 5 bed, 3 bath family home has seen many upgrades over the years and is located on a quiet cul-de-sac with fabulous mountain views in OK Falls. The huge lot measures .217 acre and has underground irrigation, gardens, fruit trees, fire pit and loads of room to play or entertain. The house has recently seen new paint both inside and out and some new flooring, and the kitchen has beautiful maple kitchen cabinets, with large island/breakfast bar and black appliances. Great layout with 3 beds up including the master bedroom with a walk-in and 2 pc bathroom and 2 bedrooms below. This house is ideal for those growing families and is easily suitable. Call today for an information package or to book a viewing. (id:2493)

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New property listed in Penticton

I have listed a new property at 302 110 Skaha Place in Penticton. See details here

Welcome to Parkview Manor in beautiful Penticton BC. One of the best locations, right across from Skaha Lake Park mere steps to the beach, transit, and South end amenities. This 2 bedroom, 1 bathroom unit has generous room sizes, with an updated kitchen, new flooring and paint throughout. A well run strata with shared laundry, no age restrictions and 1 dog or 1 cat permitted upon approval and 2nd parking stall for only $10/mo if needed. Quick possession available. Call today! (id:2493)

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New property listed in Penticton

I have listed a new property at 779 Alexander Avenue in Penticton. See details here

Welcome to this charming cottage style bungalow with 4 bdrms, 3 baths just steps to Okanagan Lake. Totally renovated maintaining original character with quality finishing. Beautiful original hardwood, gorgeous ensuite, spacious master bedroom with patio doors, plantation shutters, open modern kitchen, new custom front door. Large covered deck off the kitchen and master bedroom offer a wonderful private space for entertaining or an evening glass of wine. The lower level has 2 bedrooms, 1 bath, cozy fireplace, rec room and convenient mini kitchen for guests. Fenced back yard with low maintenance landscaping and perennials. Best location with beach, recreation, restaurants, entertainment, farmer's market, walking, biking all at your finger tips. Call your agent today to view this warm, inviting home suitable for active families, investors or professionals. (id:2493)

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New property listed in Penticton

I have listed a new property at 1 112 Penrose Court in Penticton. See details here

Stunning level entry rancher in exquisite, Blackhawk Estates. This custom built 4015 square foot award winning home offers exceptional quality and value. Both levels are high efficiency ICF engineered exterior walls, engineered steel & concrete composite floors by Hambro, and 100% efficient hot water in floor heating. The lovely open floor plan boasts 9 foot ceilings with an inviting main floor that features a beautifully updated country kitchen with large walk-in butler's pantry and breakfast nook, master bedroom with 5-piece ensuite and walk-in closet, and an office. The lower level has 3 bedrooms, 2 full bathrooms, plus den, and an enormous games room. There is plenty of space for outdoor enjoyment including a large covered deck and trellis enclosed patio area to take in the lovely mountain views and your own backyard oasis. Convenient direct access from the rear yard to the Skaha Bluffs, hiking trails, and private nature reserve showcasing stunning views of Penticton and both lakes. There's ample parking in the attached in-floor heated double garage with pass door to the a 400 square foot dream workshop below . A great package, call to get more details and book your showing today. (id:2493)

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New property listed in Penticton

I have listed a new property at 1430 Hillside Avenue in Penticton. See details here

Welcome to this One of a Kind architecturally designed Hillside home with stunning panoramic lake, city and mountain views. Floor to ceiling high efficiency glass with roller shades allow for air flow, amazing views and enjoyment of the unique inner courtyard allowing for internal activities to move outdoors and connect to other areas of the home. Interior features include a combination of birch, maple, granite and heritage fir with efficient radiant infloor heating and solar system. Bright foyer leads you up to an open floor plan with gourmet kitchen and island for easy entertaining flow into dining and living room with separate media room all in one. Master bedroom, walk in closet and ensuite are situated all on one level allowing for complete privacy while still connected to nature. Original design allows for construction of a studio with easy access at the front of lot. Large attached double heated garage has room for bikes, kayaks and more. Steps from hiking, biking, close to city centre and at least 8 wineries can be seen from the patio between the vineyards. A very unique approach to dwelling on the hillside of the Okanagan Valley. (id:2493)

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