Every time you drive down the Pandosy/Lakeshore stretch you are reminded that at one time Kelowna was just a sleepy beach town with small markets and beach access as far as the eye could see. Over the past few decades, the city has seen tremendous growth with new urban projects making many consider a permanent relocation to this ever-growing city.

Movala development site

The Pandosy/Lakeshore area has always been regarded as the crown jewel of Kelowna. As we wait for the roadways to catch up, we are seeing new multi-family developments popping up regularly in this area. In the next two to five years the area as we know it will be even more different than remembered. With the onset of the redevelopment of Hiawatha RV Park, as well as the recently started Movala and soon-to-be-constructed Aqua development near Truswell, it is apparent the changes are rapid, whether we are ready for them or not.

From a perspective of growth and vitality, it feels somewhat exciting to watch the once-sleepy beach town grow into a small yet vibrant city. It doesn’t come without a tinge of sadness for what Kelowna was and a hope that we can preserve the character of the agriculture, lifestyle, and beach life that many have come to know and love.

In 2008 we saw the addition of Playa Del Sol, a resort-style condo building that featured an outdoor pool and deck in one of the most sought-after locations just across the street from the famous Hotel Eldorado and Manteo Resort. Whether we were fully aware or not, the redevelopment of Lakeshore as we knew it had begun. 2015 brought The Lakeshore at Manteo, an 18-unit townhouse development with a pool on the lake; fast forward to 2017, Kelowna saw the highly anticipated completion of Sopa Square after many delays. The well-captured artsy feel in the Pandosy/Lakeshore area is evolving to feature high-end living, a stone’s throw from the beach.

Hotel Eldorado

As residents begrudgingly try to make their way to and from Upper Mission the changes are coming fast and furious. Movala’s construction began after residents of the RV park enjoyed their last summer kitty-corner to Gyro Beach. Caban by Cressy will begin construction quickly although it is entirely sold out. Hiawatha RV Park has been removed and the giant open space will become rental-only condos developed by Mission Group. A roundabout is being installed to help with the flow of traffic, disrupting it in the interim. As we near Truswell, the wallscape speaks about the ingenious Aqua Boat Valet facility that is purely holding space for the upcoming multi-building Aqua development featuring three buildings and an indoor boat storage facility. It will also feature a new boardwalk which would bring new life to the existing boardwalk connecting the El Dorado and Manteo and hopefully more waterfront dining that is surprisingly scarce, given the size of the waterbody we are so lucky to reside amongst.

The implementation of the Resort District is unfolding all around us and brings mixed feelings for many and the resounding hope that we will be able to preserve the character of the once small farming and beach community while it transforms into a larger city. What do you feel about the transformation of Pandosy/Lakeshore?

The 2021 Real Estate market has been like never before, and the prices of homes have experienced a huge jump overall with some of the lowest inventory we have seen. Big White is no exception to this shift, and what we can expect to see as a result of this crazy market!

How has the Big White Market Changed in 2021?

Before the pandemic, Big White had a very balanced market, I would even say it was a buyer’s market. Due to COVID, Big White sales have started to explode and that has caused inventory to dry up.

What has caused this shift in the 2021 Big White Real Estate Market?

• The Rental Market is Hot 

Many factors have contributed to the shift we are seeing in the 2021 Big White market. The pandemic has caused many of the people who currently own Big White properties to rethink listing in the current climate. Since Big White is a winter recreational resort, they are usually secondary properties and tend to bring in great rental income, especially now that the rent has gone up due to more people staying local and travel has become less frequent.

• Out of Town Buyers

Another major factor in the low inventory is a high number of out-of-town buyers that are ‘safe-haven’ buying. Big white is a great place to self-isolate and offers guaranteed rental income. The pandemic has caused interest rates to go down, and that has a huge effect on the movement of Big White properties as well.

• Low-Interest Rate

Because the interest rate is so low right now, it is making recreation properties more serviceable in terms of debt load, and this is causing buyers from all over a jump on the opportunity!

• Small Market

Big White has always been a smaller market and it is a great selling point. A lot of people buy at Big White because it provides a great feeling of community, has some of the best Ski-in & Ski-out properties, and is close to major cities. Big white being a small resort has caused it to be very reactionary to the changes we have been seeing in the 2021 Real Estate Market overall.

How do you think Big White will continue to be affected?

Big White has always been a more affordable option in the Okanagan, but recently it has exceeded the last market peak in 2008. In the past 8 to 10 years, there hasn’t been much development, and I predict this will change in the next 2 to 5 years.

Prices at  Big White are back up but there have not been any new builds, meaning no new inventory has been added to the market in almost a decade! That sounds like an untapped opportunity. I think you can expect to see new developments and expansion at Big White.

Relocating is one of the most stressful things we can do, leaving a safe and familiar place for something new and uncertain is something we all struggle with. There are many benefits to moving to Kelowna but the transition can be strenuous.  When considering a move there is a long list of things to consider. Let’s walk through some of the most asked questions when relocating to Kelowna.

Always ask the question the “The Three P’s”:

People: When looking for a new place to call home, it is a good idea to consider not only who will be living there but also any visitors. If you are someone that has plenty of families it is best to look for homes with a little extra space or maybe a carriage home!

Pets: Do you have any pets that are making the move with you? if so, the realtor needs to be aware of this as this will be search criteria. If you need a yard, this will shift your search to single-family residential and away from strata properties.

Parking: How many cars do you have? Any toys? These are all great things to know as it is a factor in deciding if your new home is the right fit for you!

When moving cities, provinces, or countries, it is very hard to get the timing of the sale of your home and the possession of your new home to line up. Figuring out your timeline before you commit to the move is very important and can save you a fortune!

Having an experienced, local realtor is extremely important. You are going to want someone who knows the area and can fit your lifestyle with your neighborhood.  If you are looking for an active, social lifestyle then a more central location is going to be your go-to but if you want a more retirement and residential lifestyle, Lower Mission or Glenmore would be a great fit. These are all things that make using a Kelowna Realtor so important when relocating to Kelowna.

Hiring a real estate company’s relocation expert can take the sting out of many details involved in the transition and bring better solutions at a faster pace than if you try to relocate on your own.

Contact us for more information on relocating to Kelowna.

Stay warm this winter

As the cold air creeps in and winter coats become a necessity being cozy is what we are all striving for. We have some great ways to add comfort and warmth to your home this Holiday Season. With the recent snowfall, it is evident that the blankets and hot chocolate have made their debut this past weekend! Here is your guide to staying warm during this cold spell.

1. Layer up Rugs

We layer our sweaters and blankets during the cold season so why not layer up the rugs as well! Whether you have hardwood, laminate, or tile, layering up on rugs is a great way to keep your feet cozy as well as adding great texture, color, and warmth to any room.

Bring on the Blankets

Adding blankets to any room will make it feel cozy and warm. Add a wicker basket to the corner of your couch in your family room with multiple blankets and your guests instantly have a way to cozy up while they are over for a cup of hot cocoa over this Holiday Season!

Add a Reading Corner

Do you have that corner in your home that you can’t figure what to use it for? We’ve got you covered! Add a big comfy chair, a table and a lamp and voila you’ve got yourself a nice reading corner. Cozy up in the morning with a nice cup of coffee, bring over your favorite book and you may have your new favorite spot in the house!

Try Dark Colours

Accent walls are a great way to add to a room. Try dark charcoal or dark brown as an accent wall behind your bed in your room and instantly add a cozy feeling. Just make sure you use lighter fixtures such as white end tables or a light grey headboard so it doesn’t make the room feel too dark.

Start your Fire!

This is one that people tend to forget… You add all the cozy fixtures in your home such as blankets, throw pillows, and rugs but you forget that simply lighting the fire will instantly make your home feel cozy and add warmth on those cold winter days. If you don’t have a fireplace, lighting a Holiday scented candle will do the trick!

Now your home is nice and cozy for the wintertime and you are thinking of putting it on the market. Contact our knowledgeable professionals of Quincy Vrecko and Associates who are here to guide you through the ins and out of Real Estate, call Tracey Vrecko at 250-575-6448 today!