Foreclosure: A foreclosure is the legal process by which a mortgagee, or other lien holder, usually a lender, obtains a termination of a mortgagor's equitable right of redemption, either by court order or by operation of law (after following a specific statutory procedure).
Court Ordered Sale: A Court Ordered Sale is the legal process where the BC Provincial Court is petitioned to approve ...
Posted by Jason Neumann
on September 14, 2011
The Central Okanagan foreclosure inventory levels continue to show signs of steady increases from month to month in 2011. Buyers ask me all the time if I foresee a huge influx of court ordered sales to the Kelowna real estate market? In my opinion, having watched how the local banks and lenders handle the foreclosure process the answer would have to be...no I don't. Reason being is banks ...
Posted by Jason Neumann
on August 29, 2011
Kelowna/West Kelowna and Central Okanagan Real Estate Stats - July 2011
Ratio of Sales vs. Total Inventory = 7.40%
Condo -- Sales = 76
Condo -- New Listings = 177
Condo -- Current Inventory = 993
Condo -- Sell/Inv. Ratio = 7.65%
Condo -- Days to Sell = 101
Average Price: $229,469
Average Median Price: $216,950
Townhouse -- Sales = 54
Townhouse ...
Posted by Jason Neumann
on August 28, 2011
There are currently 98 active foreclosures (as of January 15,2011) amongst the entire listing inventory for the Central Okanagan. There are 3,623 active listings this month (including the 98 foreclosure properties) versus 3,863 listings last month, a 6.62% drop in inventory level.
Active Foreclosure Inventory breakdown:
7 Lots and Acreages ...
Posted by Jason Neumann
on January 15, 2011
Recently, 80,000 property owners in the Central Okanagan received their property assessments in the mail. The majority of these assessments showed little change from 2009 as overall real estate sales in Kelowna and area were quite sluggish in 2010. It is important to note that BC Assessments do not reflect current real estate market conditions and are more of a general guide ...
Posted by Jason Neumann
on January 10, 2011
Current Active Central Okanagan MLS Listing Inventory as of February 8,2010:
Single Family Dwellings - 1523 properties (a 15.12% increase from January) including 17 pending offers ranging in value from $284,900 to $999,000
Strata - Condos - 931 properties (a 1.48% decrease from January) with 1 pending offer at $174,800
Strata - Townhomes - 369 ...
Posted by Jason Neumann
on February 11, 2010
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 ...
Posted by Jason Neumann
on February 8, 2010
There are currently 75 foreclosures (as of January 10,2010) amongst the entire listing inventory for the Central Okanagan. There was a slight decrease of 3 properties in the foreclosure inventory from last month.
The foreclosure inventory breakdown is as follows:
4 Lots and Acreages ($115,000 to $590,000) with no pending sales.
32 Single Family Residential ($199,000 ...
Posted by Jason Neumann
on January 24, 2010
Here's a checklist for BC homeowners:
Have you received your new 2010 property assessment notice yet?
If not, call toll free 1-800-668-0086 or contact them online.
If so, be sure to review it carefully.
If you have any questions go online or call your local assessment office.
Go online to compare other property assessments using the free e-valueBC (TM) service website.
If you disagree ...
Posted by Jason Neumann
on January 9, 2010