Best exposure for your Kelowna Listing

When listing a home for sale, you want to make sure you are set up for success. 

Your Kelowna listing must be seen by as many buyers as possible.  Even those outside of Kelowna.  

Sure the MLS, or Realtor.ca, is a great tool when looking for homes for sale in Kelowna.  But how is your Kelowna listing getting to those outside of Canada, or even North America?

Every Kelowna listing with Quincy Vrecko and Associates is advertised internationally.  Even more, their listings are in over 100 different countries and territories worldwide.  All listings are then translated into 29 different languages to ensure, clear, effective marketing all over the world.

Quincy Vrecko and Associates with RE/MAX International is in more countries than any other real estate brand.  Therefore, your Kelowna listing with the Quincy and Vrecko associates team gives your listing the advantage over others.  This exposure reaches potential buyers looking outside of Kelowna, Canada and even North America.

195 upper canyon drive-quincy vrecko and assoicates kelown real estate

Here is an example with our beautiful listing at 195 Upper Canyon Drive in Wilden:

http://www.quincyvrecko.com/listing/195-upper-canyon-drive-luxury-home/

In English:

This executive home is located on one of the largest lots in the growing community of Wilden. Sitting on more than ½ an acre surrounded by parkland.  The home boasts stunning panoramic views, 4 bedrooms, 3 full baths, large landscaped yard, 28 ft pool, hot tub, and covered patio.

In Spanish:

Esta casa ejecutiva se encuentra en uno de los lotes más grandes de la creciente comunidad de Wilden. Sentado en más de un acre y medio rodeado de zonas verdes, la casa cuenta con impresionantes vistas panorámicas, 4 habitaciones, 3 baños completos, un gran patio ajardinado, piscina de 28 pies, jacuzzi y patio cubierto.

In German:

Das Executive-Haus befindet sich auf einem der größten Grundstücke in der wachsenden Gemeinde Wilden. Auf mehr als einem halben Hektar, umgeben von Parkland, bietet das Haus einen atemberaubenden Panoramablick, 4 Schlafzimmer, 3 Badezimmer, großen Garten, 28ft Pool, Whirlpool und überdachte Terrasse.

In Simplified Chinese:

这座行政住宅位于Wilden不断发展的社区中最大的地段之一。 酒店坐落在占地超过半英亩的公园内,享有壮丽的全景,设有4间卧室,3间全套浴室,大型园景庭院,28英尺的游泳池,热水浴池和带顶棚的庭院。

 

So when you are considering selling your home in Kelowna, your only choice is Quincy Vrecko and Associates.  The team will make sure your Kelowna Listing has the right exposure.   As a result, you can secure a sale quickly and for top dollar.  The team has experience with Luxury homes, Waterfront properties, family homes, townhouses and condominiums and recreational properties.

Contact us for more information of our listing services.

Contact us

Kelowna Real Estate market is Shifting to a Balanced Market

What is a balanced market and what does that mean for home buyers and sellers.  Tracey Vrecko, a Kelowna Realtor from RE/MAX Kelowna sheds some light on the shift in the Kelowna Real Estate market.  

The Kelowna real estate market is not the doom and gloom the media is making it out be, in fact, the decrease in sales activity and the increase in inventory has balanced out a heated marketed that was putting stress on both buyers and sellers.

 

There are several factors responsible for this shift in the Kelowna Real Estate Market.

row of for sale signs-Quincy Vrecko and Associates-Kelowna Real Estate

row of for sale signs

Increase in Inventory of homes for Sale in Kelowna  

According the the Okanagan Mainline Real Estate Board, the number of single family homes for sale in Kelowna has risen to just over 1550 units.  This is nearly double over this time last year where single family listings were sitting just under 800 units, creating a strong sellers market. This increase in inventory has cooled the heated market giving buyers more choice and sellers more competition.

 

 

 

Changing mortgage rules

New federal guidelines came into effect at the beginning of 2018 that has put a stress test on those who are looking for a mortgage.  This is not only making it more difficult for homebuyers to qualify for a mortgage, it is also decreasing buying power by approximately 20%.  This has had a significant impact on the Kelowna real estate market as homebuyers are now having to re-evaluate their needs when it comes to buying a home.  For more detailed infomation on the changes visit https://globalnews.ca/news/4097215/canada-new-mortgage-rules-stress-test-2018/

taxes-Quincy Vrecko and Associates-Kelowna Real Estate

taxes

 

Speculation Tax

When the NDP government took control of the province of BC, the prime Minister John Horgan put forward the controversial Speculation Tax to aid in BC’s housing crisis.  Since it’s conception, this tax has since been revised due to the backlash of homeowners and investors, and has yet to be passed. Even the idea of this speculation tax has made the public nervous and has decreased buyers confidence in the housing market.  For more information on the Speculation Tax https://www2.gov.bc.ca/assets/gov/taxes/property-taxes/publications/is-2018-001-speculation-tax.pdf

 

 

Kelowna Realtor, Tracey Vrecko comments:

“This shift in our market has created a balance that will be better for home Buyers and Sellers.  For someone buying a home in Kelowna, this shift will allow them to take more time making this big decision and not feel as rushed as they did 6 months ago.  And for Sellers listing their home, with the increase in inventory of homes for sale in Kelowna, this has opened up options for when their home sells.”

With all the changes to the Kelowna Real Estate market it is more important than ever to have an experienced Kelowna Realtor working on your behalf.  Your real estate professional should keep you up to date on the factors affecting the market and how this will impact your home buying or selling experience.  

 

Quincy Vrecko and Associates are a group to top real estate agents in Kelowna and service the surrounding areas.  Kelowna Realtor Tracey Vrecko has been in real estate for 16 years and has vast knowledge and experience with changing markets.

Kelowna Real Estate Marketing – Print vs. Digital

Like many other industries Kelowna real estate marketing campaigns have evolved from window signs and newspaper advertising to dynamic digital marketing strategies across multiple platforms. This transformation is necessary now that most consumer activity takes place online. There are many advantages to online marketing.

Target Markets

kelowna real estate marketingA recent poll found that 100% of active home buyers used digital media when searching for a home. In contrast only 28% used traditional print media in the Kelowna home search.

While print media is constrained to a specific readership, Kelowna real estate agents have numerous tools at their disposal to ensure digital campaigns reach the target audience. Digital advertising is targeted by location, age, income, interests and many other demographics. These criteria ensure that Kelowna real estate advertising is more likely to be viewed active buyers.

Monitored and Modified

Digital campaigns allow you to experiment and constantly adjust audiences and other features of the campaign based on how people are responding to it. Online Kelowna real estate ads are monitored for reach, impression, and actions. This real time information allows advertising to be modified and improved with immediate effect. Print advertising does not allow for this flexibility.

virtual reality in kelowna real estate Multi-Media

Digital campaigns use videos and virtual tours as well as photography, allowing you greater creativity and versatility. A print campaign is limited to just photography and graphic design. Kelowna real estate marketing that uses a variety of media engages potential buyers and provides a well-rounded representation of what your home offers.

 

Home owners looking to sell their property in the Kelowna real estate market should look for agents that are savvy about digital marketing. The team at Quincy Vrecko and Associates advertise homes for sale across multiple digital platforms. A personalized and dynamic marketing plan is created for each home and all forms of media used including virtual reality.

If you’re considering selling your Kelowna home your first call should be to Quincy Vrecko and Associates to arrange for your free market evaluation. Reach us at 778-760-2860 today.

Kelowna real estate market statistics for October 2017

Graph showing statistics of Kelowna real estate market October 2017

What was the Kelowna real estate market up to this October?

Kelowna real estate sales remain strong going into the fourth and final quarter of 2017

Despite the small decrease posted in October, sales of Kelowna single family home decreased slightly from this time last year and are at par from the previous month.  

“It is typical for this time of year to see a slight slowdown in new listings and sales. I really enjoy the fall market as it allows us to spend a little more time with homebuyers.” says Tracey Vrecko, a top Kelowna real estate professional with RE/MAX Kelowna.

The inventory of Kelowna homes for sale remain a challenge for buyers. The fall market allows for some breathing room compared to the hot summer market.  There were 878 new listings in October compared to 1118 in September. The average days on market have rising from 72 to 82 day to sell.  While these number are all very common for this time of year, there is one irregularity.

The average price for a single family Kelowna home is up to $526,418. This is a 16% increase from this time last year.  This irregularity is due to the increase in sales of Luxury homes in Kelowna. This includes the sale of the most expensive waterfront property this year posted at 6.4 million.

“The fall luxury real estate market has been very strong this year. When it comes to these types of properties, they don’t follow the typical sales cycles.” notes Quincy Vrecko, the top luxury real estate specialist with RE/MAX Kelowna.

In the month of October there were 6 sales of waterfront homes in Kelowna compared to only 2 in the hot July summer market.  Overall, there were 11 luxury homes that sold in Kelowna and surrounding area for over 2 million in the month of October. These higher priced properties have raised the average single family home sales for the month.  

As home buyer demand remains strong even in the fall/winter months, the Kelowna real estate market continues to grow.  To ensure you are keeping on top of the changing market conditions, hire a professional Kelowna real estate agent. Quincy Vrecko and Associates is one of the top real estate teams with Re/Max Kelowna. Our team of professional real estate agents can help through the home buying process, giving you expert advice.  If you are looking for a Kelowna family home, condominium, penthouse or a luxury waterfront home call 1-778-760-2860! 

What is my Kelowna real estate worth?

The first question you think of before placing your Kelowna home on the market is, what is my Kelowna real estate worth? Knowing what your Kelowna real estate is worth is great to have when you are getting ready to place your home up for sale. As the market is always changing, it is good to know if this is the right time to sell. How can you find out what your Kelowna home is worth? Here’s how!

Do some research to find a Kelowna realtor

couple sitting with Kelowna realtor to find out how much their Kelowna real estate is worth

Find a Kelowna realtor

First things first, the best person to call is the real estate experts. You may do your own research but the person who can give you the most accurate number is a Kelowna realtor. A Kelowna realtor will be able to do a competitive market analysis on your Kelowna real estate to provide you with a value on your Kelowna home at this point in time.

Market Analysis on your Kelowna Real Estate

The best way to provide you with a value on your Kelowna real estate is having your Kelowna realtor conduct a competitive market analysis. They will assess the current market, find out what homes in the area has sold for and give you a value for your home. Keep in mind, what your home is worth today could be different than what it is worth in 1 year from now. The market changes and so does the value of your home!

small toy home and calculator on a graph

Have a market evaluation done on your home

If you haven’t had a market analysis done in the last 6 months ago, contact Quincy Vrecko and Associates! Our team of real estate professionals can provide you with a FREE market evaluation on your home. We do not want your Kelowna home placed on the market and sitting waiting for an offer. Let’s get your Kelowna real estate on the market and SOLD! Start by contacting the team at Quincy Vrecko and Associates. One of our Kelowna realtors would be happy to assist you with your next real estate transaction. Call 1-778-760-2860 today!

Kelowna Real Estate Market statistics for August 2017

graph showing statistics for Kelowna real estate market for the month of August

Monthly Statistics for August 2017

As the summer heats up in Okanagan, the hot Kelowna real estate market cooled off slightly. Posting an 8% decrease in sales from the month of July and a 14% fewer sale from the same month last year.  This decrease in sales is largely due to continued low inventory levels of homes for sale in Kelowna.  

New listings were at par with August of last year. As inventory remains low, the Kelowna real estate market continues to favor the seller. Days on market rose slightly, which is typical for this time of year. Average price for a single family home in Kelowna remains steady at $678,608.  

When comparing different categories of the Kelowna real estate market to the same time last year, there were some interesting numbers produced.

Single family homes

August of last year, there were 349 sales of single family homes in Kelowna where this year sales totaled 261.  The lack of single family homes for sale in Kelowna continue to factor into the decrease in sales.  Yet another major factor is the rise Kelowna real estate market prices.  It is becoming harder and harder for first time home buyers to buy a single family home. They are turning to condo and townhouse living.  

Condominium and townhouses

As condos and townhouses become the more affordable option in a red hot Kelowna real estate market, sales are at par to last year despite the lower inventory levels.  Last year in August there were 281 units sold and this year is nearly the same at 257.  This trend will likely continue as new developments of condos and townhouse complete and prices for single family homes remain out of reach for some buyers.

Lots

According to CMHC, by this time last year new home construction was up 65% over the previous year and lot sales were very brisk to say the least.  For the month of August alone there there were 57 lot sold compared to only 30 this year.  Rising building costs and lack lots for sale in Kelowna contributes to this decrease.  

Waterfront homes

The sale of waterfront homes in Kelowna has seen a significant decrease this year with only 14 sales registering for the month of August. Yet last year there was of 25.  Sales of waterfront homes are down due to the flooding of Lake Okanagan where over 200 docks lakeshore were damaged from the floodwaters.  Once docks are repaired and replaced,  the Kelowna real estate market could see an increase in listings and sales of waterfront homes.  

Luxury property

Luxury real estate in Kelowna in August is down 16 sales to 35 on a last year of 51.  Homes sold over 1 million make up this category. While inventory is the common theme for this year’s Kelowna real estate market statistics, there were environmental factor such as floods and fires.  Luxury homes with big lakeviews where difficult to apprecite because of the fires in BC.  It was surprising to see a decrease in this category because of the rise in the real estate values pushing more homes over that 1 million dollar mark.  

As summer winds down the we move into the 4th quarter, it is typical to see a slowdown from the busy Spring and Summer market.  Demand is still strong and with lower inventory, we remain in a seller’s market going into the fall.  This could change with new home starts in 2016. It is likely to see an increase in re-sale listings as homeowners get ready to take posession of their new build.  

To stay on top of the changing Kelowna real esate market, use the expertise of a professional real estate agent.  Quincy Vrecko and Assoicates is a top Kelowna real estate team with RE/MAX Kelwona focused on real estate trends. We can keep you up to date on listings even before they hit the market.

Kelowna Real Estate Market Statistics for July 2017

graph showing real estate market trends for Kelowna July 2017

Kelowna Marketshare Report July 2017

 

The temperatures in Okanagan are heating up! Yet, the Kelowna real estate market showed a slight cool off for the month of July.  This raising questions from buyers and sellers; “is the market starting to show a shift away from the strong sellers market?”

The Kelowna real estate market has been a seller’s’ market for over a year. This is due to a lower number listings and a strong demand by buyers. Which forces large increases in the average sale price for a single family home Kelowna. While listing inventory remains low, for the first time in a long time, the housing market is starting to see price reductions from the original listing price.

July posted a small 6% decrease in sales from June numbers. 961 sales registered as reported by the Okanagan Mainline Real Estate Board (OMREB). The average sale price for a single family home in Kelowna now sits at $692,838, only a slight decrease from June values.  

Tracey Vrecko, a top Kelowna Realtor with RE/MAX Kelowna, says these statistics are typical for this time of year, and comments,

“while the summer is a busy time for tourism in Okanagan, homes sales are usually a little quieter than the spring.”  

Year to date, the Kelowna Real estate market has seen an increase of 11% in home values over this time last year.  

While signs still point to a seller’s market, is is possible the fall could show a shift to a more balanced market, which would be welcome change for buyers looking at buying a home in Kelowna. There has been an increase in price reductions over the last 30 days. This shows that those strong increases over the past few months could be coming to an end.

Looking ahead to the fall, there are some factors that have, and could continue to affect the Kelowna real estate market.  The recent hike in interest rates, change in government and recent environmental threats such as fires and floods.  

Watching any changes to the real estate trends is important when marketing a home for sale. The team at Quincy Vrecko and Associates provide an advanced web marketing platform to all of their listings in Kelowna. This includes detailed analytics.  The advantage of the of these analytics are to track where the buyers are coming from on each listing. That way an effective target marketing strategy can put in place.  

With the strong increases in property values in Kelowna, it is still a great time to sell you home. Values remain strong. A more balanced Kelowna real estate market could mean there will be more to choose from.  Then you won’t feel the pressure when selecting a home.

 

The Process of Selling a Kelowna Home

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This past week we wrote a blog on the process of buying a Kelowna home, so to do a follow up, the team at Quincy Vrecko and Associates have outlined the process of selling a Kelowna home. If you are in the market to sell a Kelowna home, we’ve got great tips for you!

lady shaking mans hand standing considering selling a Kelowna home

Hire a great Kelowna Realtor

Hire a Kelowna Realtor

When you start to have thoughts of putting your Kelowna home on the market, it’s time to think of what Kelowna realtor you will hire. If you are going back and forth whether you should hire a Kelowna realtor or do it yourself, check out, why should I hire a Kelowna realtor?

Prepare your Kelowna Home for Sale

One of the most important steps in selling a Kelowna home is preparing it. Preparing your Kelowna home for sale will not only attract buyers but could result in a great sale. Some ways you can prepare your Kelowna home for sale is,

  • Boost your curb appeal

  • Get rid of unnecessary clutter

  • Hire a professional staging company

Sign your Paperwork

Similar to a home buying process, you are just signing the paperwork to list your Kelowna home. Your Kelowna realtor will go through all the necessary paperwork needed to list your Kelowna home. If you have any questions, ask away. This is your time to familiarize yourself with all of the contracts and paperwork!

Schedule an Open House

The first two weeks your home is on the market tends to be the busiest. That is why it is important to have your Kelowna realtor do an open house within the first few weeks of your Kelowna home hitting the market. You will attract the most potential buyers at once and can in turn drive a sale!

Accept an Offer

Congratulations! You have received an offer on your home. First things first, review the offer with your Kelowna real estate agent. You want to make sure you look over every page to ensure that you know exactly what the offer entails. Once you have accepted the offer, the buyer will go about removing subjects and you can just sit and wait for the good news!

Couple standing beside a sold sign of a home with keys in hand

Subjects are removed, your home is now SOLD!

SOLD!

Best thing to hear from your Kelowna real estate agent is, “they have removed subjects, congratulations, your home is now sold!”. We are so happy for you and for the next adventure you are about to partake in. Now, start packing, cleaning and decluttering so you are ready to go for your next home!

The process of buying and selling a Kelowna home can be quite different but one thing is common, you’ll need a great Kelowna real estate agent to help with your sale. Tracey Vrecko from Quincy Vrecko and Associates is ready to get your home SOLD! Call Tracey to begin the home selling process today, 1-778-760-2860!

 

Kelowna Real estate Market statistics for June 2017

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graph showing monthly statistics for the month of June 2016 in Kelowna real estate

Kelowna Real Estate Market Statistics for June 2016

June was another busy month for the Kelowna real estate market. Posting a 8% increase in Kelowna property values over last month.  Sales volume is down 24% from this time last year due to low inventory levels. The average price for a single family home in Kelowna has reached a record high of $716,474.00.

Historically, the Kelowna real estate market is the most active in the summer months. With lower inventory levels and the high demand for real estate in the Okanagan, this is driving values up in our area.  Buyers are having to pay more for a home in Kelowna than ever before.

Last year in the month of June, the average price for a single family home in Kelowna was only $582,420. This year the Kelowna real estate market has a seen a 23% increase since this time last year making buying an affordable home a thing of the past.

“This increase in values is making it difficult for first time home buyers to enter the market. The good news is that interest rates are still low. Yet finding an affordable single family home is becoming very difficult” – Tracey Vrecko 

Vrecko explains that there are alternative options for first time home buyers looking to get into the real estate market if they can’t afford a single family home.  The listing inventory of condominiums and townhouses in Kelowna is up from this time last year.  This is a great way for a  first time home buyers to get into the hot Kelowna real estate market.

According to the Okanagan Mainline Real Estate Board (OMREB), listings of condominiums and townhouses has increased 8% from this time last year. While single family homes has seen a 7% decrease in active listings.

Whether you are a first time homebuyer or you’ve been through the home buying process before, Vrecko encourages you hire a real estate agent. A professional real estate agent can help you navigate through this hot Kelowna real estate market.  “For most homeowners, this is the their biggest investment”  says Vrecko, “and you should choose a professional real estate agent you can trust, who has experience in buying and selling in your market.”

Tracey Vrecko is a part of the team at Quincy Vrecko and Associates.  She has over 15 years experience successfully helping buyers and sellers with their real estate transactions.  Tracey specializes in first time home buyers, single family homes from 500-1000, townhouses and condominiums in Kelowna and surrounding area. Call Tracey Vrecko today 1-778-750-2860!

 

Top Parks in Kelowna to Visit this Summer

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Looking for a evening stroll? Are you wanting to take your children on a picnic? Kelowna has some amazing parks where you can enjoy scenery and beautifully landscaped areas all in one visit. The team at Quincy Vrecko and Associates have put together a list of the top parks in Kelowna!

Bear Creek Provincial Park

Located in West Kelowna is Bear Creek Provincial Park. With over 170 hectares, this park is sure to have something for everyone in the family. Enjoy canoeing, hiking, biking or just sit at a picnic table and enjoy lunch with your loved ones.

City Park

Another one of the top parks in Kelowna is City Park! Located in Downtown Kelowna close to Highway 97. City Park is one of Kelowna’s hottest parks in the Summer. There are plenty of things to do in this park,

  • Beach Volleyball

  • Take a dip in Okanagan Lake

  • Enjoy the Children’s Waterpark

Mission Creek Regional Park

Head over to the Mission and enjoy another one of the top parks in Kelowna – Mission Creek Regional Park. This spectacular park includes over 12 km of hiking trails, a place for an afternoon picnic and much more! Enjoy the amazing scenery while strolling through this 92 hectare park. Mission Creek Regional Park borders Mission Creek for 3km so take the family on an afternoon stroll and enjoy all this park has to offer!

Waterfront Park

Located on Water Street in Downtown Kelowna, Waterfront Park is home to many Summer activities in Kelowna. Enjoy breathtaking views of Lake Okanagan, and the mountains surrounding you. A walk through Waterfront park truly gives you a taste of what Kelowna is all about.

Kelowna is full of great parks, but that is not only what Kelowna is known for. We also have great real estate. If you are looking to purchase Kelowna real estate, contact the team at Quincy Vrecko and Associates. One of our knowledgeable Re Max  associates are always ready to help you find exactly what you are looking for.  Call one of our Kelowna Realtors today 1-778-760-2860!