Archives for February 2013

Village Heights at The Ponds Kelowna Upper Mission

Village Heights at the Ponds,

in the Mission Area of Kelowna is a great development of small single family homes priced for average income families and empty nesters.
What makes the Village Heights project successful is its well thought out cohesive design. The Kelowna homes are attractive, with good features and offer excellent value.


The most expensive home at Village Heights is about 520k including HST. The least expensive expensive home one is only $402,500 including HST.

So we can get you in to a brand new home here with 22k down and $57,000k in combined family income. So if you as a couple have  good credit scores and a stable jobs that pays you each at least  $13.70 an hour you should be able to buy a home with just 22k down.

The Lending Outlet has financed 17 homes at the Ponds in the past couple of years and everyone is happy with their purchase.

Call Billie Aaltonen Today – 1-250.575.5478

Village Heights Kelowna

What makes this newsworthy in my mind that in the past week they have sold 7 homes while the headlines talk about a slowdown in the real estate market in Canada.

This just proves my contention that if you offer good value, in the right price range and work with a good realtor and broker, you can find a house you can afford.

Check the Ponds out They are on Steele Road , go to the end of Gordon and up the hill. You’ll see the signs. Trust me you’ll be pleasantly surprised.

The Ponds Kelowna – Billie Broker, Billie Aaltonen

West Kelowna Mortgage

west-kelowna-mortgageAs predicted the Bank of Canada will keep rates low for the foreseeable future. This policy combined with the  (apparently) slowing demand in the residential real estate market will create an excellent

buying opportunity for those wanting to own their homes.

According to the bank the wild card in their policy choice is the US economic recovery which is well documented by the US real market blogger, Calculated Risk.

The real problem for the BoC is they are caught between a high dollar, export demand and imports such that they are dammed if they do or dammed if they don’t.

If they raise rates, especially increasing the differential between US rates and Canadian rates then there will be a rise in the Canadian dollar vs the US dollar which will damaging Canada’s vital export industries. In addition, as the dollar rises, imports become cheaper. Much of Canada ‘s inflation basket is made up from imported goods so the inflation number goes down, which pushes the need to raise rates back down. Confused?

Well the bank is a bit too. And we haven’t even factored in the tight mortgage lending policies that the Finance Department and OFSI have forced on lenders that are causing a major slowdown in the construction industry in Canada. Residential construction is a major economic driver for the Canadian economy and its loss will put further downward pressure on any plan to raise interest rates.

To bring this into focus for the ordinary homeowner, all that this means is there is little push on the BoC to raise rates ahead of any move by the Feds in the US. They have committed to keep rates where they are until 2014. So despite the few disclaimers in the BC’s policy statement, the truth is rates are going nowhere in the foreseeable future and if things don’t get going in the near term, we may even see a rate cut.

Ten Year Kelowna Mortgage 3.69%

Call or text Tracy Charlton about our great 10 year rate 3.69% – This is a great rate get it before it’s gone! 1-250-862-1073.  Let Tracy’s mortgage experience save you money.












Tags #kelownamortgage #tracycharlton #greatmortgagerates

Kelowna Mortgage broker, Consolidation mortgage, Low rate mortgage, BC

kelowna mortgage brokerThis is a classic misleading statistic. The market is traditionally slow in December and I will predict that January’s result will be equally

Poor on a year over year basis. Mortgage Broker Kelowna

The problem with real estate statistics is they try to impose a general assumption onto a localized product.  For instance, the headlines today talk about slow sales and a national price decline.

First he price decline is less than 1 %. If the average house price is 350k then they have declined less than 3500 bucks, which in my mind is not earth shattering. But the reality is even less than that.

The numbers are taken from averages. The averages nationally are going to be driven by the largest real estate boards in the GTA, Vancouver and maybe Calgary.  The average increase or decrease may not be influenced at all by smaller market activity such as Victoria KELOWNA Saskatoon etc.

Within the average sale price decline you might see and alternative interpretation.  In those big markets mentioned the average house price can decline because activity increased in a lower price range relative to overall sales, the result of which is lower prices would dag the average home price down.

In small towns, a single sale can cause significant average price swings either way. Lumby B C showed  4% price increase according to news reports. The problem with this is a single sale over 750k would drag the nitre sales average upward.  ( the lumby racket is very small)

So what is our advice?  Beware market stats which are negative for December and January, which are traditionally slow months.  Ignore national sales numbers. Real estate is a local product.

Do pay attention to your local economy, your personal financial circumstances and your personal needs. Mortgage Broker Kelowna

Remember that most of you are buying a home not an investment and that real estate is longer term game. It’s not the stock market.

Mortgage Broker Kelowna

Kelowna Mortgage Broker

kelowna-mortgage-brokerOk so you’ve decided that based on all your friends and relatives advice and stuff you read

In various media that you shouldn’t buy a home today.

Our local market is about to take a giant meltdown like the US circa 20090, right?
There are many things to think about.  First look at the US market today.
The market is rapidly moving forward. Listings are dropping across the marketplace, foreclosures are falling at a 25% annual rate.  Everything your uncle is telling you is old news.

Why is what happens in the US market important?  Just look at the labour stats for the forestry sector.
Jobs are booming from the first time in ten years. Look at the stock chart for Canfor and Ainsworth.

See a pattern?
The first rule of investing is you can’t time the market.  The real estate market behaves the same way as the stock market but is less volatile and reacts over a longer cycle.
Rates are super low on mortgages. The market is soft. This is the best time in 10 years to buy.
Get pre-qualified, shop below your earnings, be a happy owning. That’s what we want for you.

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