First Time Home Buyer: Avoid these Mistakes

Buying your first Kelowna home is a very exciting time. You have probably been looking forward to the day you begin the process of finding your first Kelowna home. For many, this time is not stressful. On the flip side, it can be very stressful without the right tools! In order to ensure this process is as smooth as possible, avoid making these mistakes as a first time home buyer.

Working on your own

couple sitting in front of real estate agent reviewing documents

Couple working with agent reviewing real estate documents

The process of purchasing a Kelowna home is very complex. If you are unaware of how this process works as a first time home buyer, it can be a daunting task. The best thing you can do to ensure this process is as smooth as possible is to hire a Kelowna real estate agent. A Kelowna real estate agent is working with your best interest in mind. As this is your first time purchasing a home, you want to ensure that you understand everything in order to close your sale.

Not getting pre-approved

We highly recommend as a first time home buyer you get pre-approved for a mortgage. Getting pre-approved for a mortgage will show you exactly what range you need to stay within. The worst thing that could happen would be you begin this process only to find out that you do not qualify for a mortgage. For more reasons on why you should get pre-approved, check out why should I get pre-approved for a mortgage?

couch in middle of room beautifully decorated with accent wall behind

Beautifully decorated home

Purchasing items before finding your Kelowna home

Furnishing your first Kelowna home can be hard. You will not know exactly what you need until you have closed your first home. This can make purchasing furniture and items very difficult. We understand this can be a very exciting time and also very expensive. So, we have made things a bit easier for you. Check out decorating your first Kelowna home for 3 great tips!

If you are ready to begin the process of purchasing your first Kelowna home, contact Quincy Vrecko and Associates. We are a team of professionals ready to assist you in this exciting time of your life. On top of giving you expert advice and guiding you through the process, we want to ensure you, as a first time home buyer, are as comfortable as possible during this process. Contact one of our real estate agents today 1-778-760-2860!

3 Steps to an Organized Kitchen for your Kelowna Home

Many may agree that the kitchen is the most used room in the house. That being said, it is also the most disorganized! If you find that your kitchen is very disorganized… then follow these 3 steps and you’re on the road to an organized kitchen! Doesn’t that sound like a dream? You mean I can have an organized kitchen and save time on cooking and cleaning. Sign me up! Organize your kitchen with these three easy steps courtesy of the team at Quincy Vrecko and Associates!

Empty everything out

kitchen cabinet empty ready for organization

Begin by emptying everything out

Start by emptying out the cabinetry. This will help with organizing your cabinets in a timely matter. Once you have emptied everything out you will have a clear understanding of not only how much stuff you really have but how much stuff you could get rid of! Let the organized kitchen begin…

Establish a plan for your cabinetry

Now that everything is taken out and you have a bunch of empty cabinets you can clearly establish a plan for how you want everything to look. Are you tired of walking across the kitchen to grab your oven mitts? Not a problem, make it that your oven mitts and other heat protecting items by the oven. Tired of having to go into the pantry for spices you need when cooking? Again, not a problem. Install an easy spice rack beside your oven and stove for easy access! Taking everything out of your cabinets will make it easier to establish a plan to make your life easier in the kitchen! 

Use containers to help organize

organized cabinet with mason jars and Tupperware

Use other jars and containers as an organization tool

The worst part of taking the time to organize your kitchen is the few weeks later that it turns right back to what it was before. To avoid this, take the time to really focus on how to make things stick this time around. Instead of having a junk drawer, fill the drawer with dividers and color coordinate where bills can go in each drawer. This will force you to keep things organized as you can’t just throw it into the drawers. Same goes for tupperware and pots/pans. Start by, installing dividers in your cabinetry, this makes it easier for you to keep everything organized and in its place. Now you have an organized kitchen and it’ll hopefully stay this way! 

Make life easier for you and keep up with your newly organized kitchen! These are just three easy steps that can take your kitchen to the next level. If you are looking for ways to spruce up before listing your home in this red hot market… then contact the team at Quincy Vrecko and Associates.  Call 1-778-760-2860!

Kelowna Luxury Real Estate Past and Present

The 2017 Kelowna luxury real estate market is booming and with strong sales, there has been large increases in property values in the Okanagan Valley.  So the question is, what does 1 million dollars buy you these days?

When you think of 1 millions dollars, it seems like a lot of money.  Thinking back when it seemed outrageous for property to cost that much, it is now the reality in our market.  Kelowna luxury real estate is in high demand which is forcing prices to go even higher.

Now jump back 20 years to 1997…

exterior of luxury home

Luxury real estate home located at 492 Carona Crescent

When Leonardo DiCaprio was the “king of the world” in Titanic and Spice Girls were heating up the charts, the Kelowna Luxury real estate market meant something very different than it does now.  A home in Kelowna for one million dollars was an anomaly.  In 1997, there were only only 2 sales over 1 million dollars for the entire year.  Back then, a Kelowna waterfront home on Hobson would only cost you mere 1.2 million.  Now that that same waterfront property would be worth over 3 million dollars and that is just for the land.

Now let’s go back only 10 years ago to 2007…

While the launch of the very first Iphone is was making headlines along with the news of crashing US real estate market, the Kelowna luxury real estate market had certainly seen an increase.  There were 203 sales over 1 million dollars back in 2007.  Back then, one million dollars would buy you a large 4200 square foot family home in Crawford Estates in Upper Mission, on a half acre lot with an inground pool.  That home now would now be worth nearly 1.5 million.

interior of luxury home with dark walls and blue and white accent pieces

455 Lakepointe Drive listed with Quincy Vrecko and Associates

Jump to 2017, our current market…

So what does 1 million dollars buy you today?  With the increase in Kelowna luxury real estate market, you may think there is no chance of getting what you want.  The good news… one million dollars still gets you a great home in Kelowna.  Currently listed with Quincy Vrecko and Associates at 999 000, 455 Lakepointe is located in a cul-de-sac in the award winning community of Kettle Valley in Kelowna’s Upper Mission.  This family home was built in 2013 and offers over 3900 square feet, 5 bedrooms, 4 bathrooms, built in 2013 with top of the line finishings.  

Over the last 20 years the Kelowna Luxury real estate market has changed dramatically.  What history will tell us, is that real estate is a good investment.  With the ups and downs in the real estate market, property values in always increase over time.  When buying a home in Kelowna or the surrounding area, it is important to use the services of a professional real estate agent. This can ensure you are making the right investment for the next 20 years.  

Quincy Vrecko and Associates are one of top real estate teams in Kelowna.  With a group of licensed professional real estate agents specializing in a wide range of real estate including Kelowna Luxury real estate, family homes in Kelowna and area, condominiums and townhouses, new builds and developments and recreational property. 

Kelowna’s Luxury Real Estate Market Statistics

The summer is in full swing the in the Okanagan and so is Kelowna’s luxury real estate market.  We are halfway through 2017. Luxury home sales have seen an increase of 7% with 175 Luxury properties selling in the first 6 months of this year. Luxury homes are classified as either single family home, waterfront home or strata title property over 1 million dollars.  

The following comparison shows the changes from last year to this year in Kelowna’s Luxury real estate:

1 million to 2 million range for Luxury Real Estate:

family home with large dining room and kitchen in Kelowna

1079 Westpoint Drive – Listed with Quincy Vrecko Real Estate Kelowna

This year, sales of luxury homes from 1-2 million saw an increase over last year with 153 Luxury homes sales register over a last year of 140.  The large majority of these homes were new home construction and most were located in the city of Kelowna.

2 million to 3 million range for Luxury Real Estate:

Between 2-3 million, there was a mix of waterfront property, newer Luxury homes and larger estate properties for both 2016 and 2017.  There was only a slight increase in the number of luxury homes sold from 2-3 million.

Over 3 million range for Luxury Real Estate: 

waterfront home listed over 3 million, Kelowna luxury real estate

320 Poplar Point Drive – Listed with Quincy Vrecko Real Estate Kelowna

This price point saw the most significant difference from last year.  This year, Luxury homes sales over 3 million has had only 3 sales to register. Last year, there were already 9.  Last year, all 9 sales were waterfront homes. Where as this year, only 2 waterfront sales have registered over 3 million.

Sales of Waterfront homes in Kelowna has seen a significant decrease this year over last with only 17 sales to register so far in 2017. While in 2016, the first half registered 37 sales. This has had an impact on the average prices in Kelowna’s Luxury real estate market. This decrease could be largely due to the usual spring weather and the Okanagan floods of 2017.  Many of the waterfront homes lost their docks and suffered significant damage to their landscape.

“We will be watching Kelowna’s Luxury real estate market closely for the last half of the year. I have had some of my strongest months in sales of both waterfront property and luxury homes in Kelowna in the last half of the year.”  – Quincy Vrecko 

Vrecko goes on to comment, that with the unusual spring weather, historic flooding leading right into BC’s wildfires, this year has had a slow start for Luxury home sales over 3 million.  Quincy has no doubt that Kelowna’s Luxury real estate market will finish strong for 2017.  

Quincy Vrecko is RE/MAX Kelowna’s #1 Luxury real estate agent and is the luxury real estate professional for Quincy Vrecko and Associates.  He specializes in waterfront homes and luxury properties in Kelowna and area. He also specializes in family homes, vacation properties, retirement homes and penthouses.  His years of experience and proven track record for success has placed him as one of the best real estate agents in Kelowna.  If you have questions about the Kelowna luxury real estate market, give Quincy a call 1-250-863-8810! 

Decorating your First Kelowna Home

Moving into your first Kelowna home can be stressful and also exciting! One of the most stressful parts of moving into your first home can be finding all of the furniture to fill the space with! That means getting rid of that old beat up futon and replacing it with a sophisticated couch. This doesn’t mean you have to go over board and break the bank. We’ve got some great tips on how to decorate your first Kelowna home.

Establish a plan for every room in your new Kelowna home

Magnifying glass overlooking the living room in a Kelowna home

Take photos of your new place and establish a plan for every room. Figure out what each room will be used for and what pieces you need to decorate and fill each room with. Are you using all 3 of the bedrooms for bedrooms or will you transform one into a home office or kids play room? Establishing a plan ahead of time will help save costs as you will know exactly what furniture you need rather than buying pieces you don’t have a home for yet.

Start with the important rooms

Begin decorating the most important rooms first. This would be the rooms you will spend the most time in. Ignore the spare bedrooms and basement and begin with your kitchen, family room and master bedroom. This is where you will be spending the most time and where you will appreciate the decor the most. Once the important rooms are complete, you can work into your other rooms.

Don’t buy everything at once

Fully decorated Kelowna home Move into your home first before splurging on bigger pieces. Once you move into your Kelowna home and start realizing what each space is going to be used for it will give you a better idea of what is needed where. You will be able to measure rooms and find out what size of furniture can fit. Why bother spending thousands of dollars on a brand new couch when you don’t know what size you need?

Moving is stressful and we understand that. That is why the team at Quincy Vrecko and Associates are here to help. On top of giving you expert advice on our hot Kelowna real estate market, we want to ensure your move into your first home is as smooth as possible. If you have any questions regarding the Kelowna real estate market or ways to make your move easier, contact our knowledgeable team members today 1-778-760-2860!

Kelowna Real estate Market statistics for June 2017

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

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!

 

Process of Buying a Kelowna Home

Are you looking to purchase a Kelowna home? The process of buying a Kelowna home involves a great Kelowna realtor who is going to work with you to find the home of your dreams. Whether you are looking to downsize, upgrade or purchase your first home there is steps to go through to go from searching for your Kelowna home to closing the sale.

Finding a Kelowna Realtor

In order to begin the process of buying a Kelowna home, you need a great Kelowna realtor who can assist you. A Kelowna realtor knows the ins and outs of the market and can help you with the search for your Kelowna home. To find a great Kelowna realtor, check out why should I hire a Kelowna realtor?

Begin your Home Search for Buying a Kelowna Home

Once you have a great Kelowna realtor, it’s time to begin your home search. Your Kelowna realtor will begin by gathering information and criteria for what you are looking for in a Kelowna home. Once your Kelowna realtor has gathered all of your information and criteria, you will then most likely be sent a few homes that tick off your boxes!

Showings!

By far the best part of searching for a Kelowna home is the showings. You get to go through potential homes and search for your future home! Your Kelowna realtor will begin to explain the features of every home and answer any questions you may have. Once you have found one you really like, it’s onto the next step!

Put in an Offer & Remove Subjects

Once you have found a Kelowna home that you love and ticks off all of your boxes, it’s time to put in an offer! This process can be a bit stressful so here are some tips,

  • Know the max you are willing to spend before writing anything on paper

  • Know that this may not go through so keep an open mind on other options of homes you saw and if it does go through, congratulations!

Once you have put in an offer, you’ll have to go through removing your subjects. Depending on what you placed in the initial offer will depend on how this part of the process goes, so ask your Kelowna realtor for some advice on how to remove subjects with ease.

SOLD!

Congratulations, you have just removed subjects on your home and it is now SOLD! You are officially a homeowner and we couldn’t be more happier for you. It is now time to pack, schedule movers and enjoy moving into your new place.

The process of buying a Kelowna home can be tricky and stressful, that is why you need a great realtor to guide you through this process. If you are searching for a Kelowna realtor who can help you find your next home, contact the team at Quincy Vrecko and Associates. Call 1-778-760-2860 today!

 

Why is a Home Inspection Important?

Are you in the process of purchasing a Kelowna home? First off, congratulations! What an exciting time for you. The team at Quincy Vrecko and Associates want to ensure this Kelowna home purchase is as smooth as possible! First things first, home inspections… why are they important? Do we need to get one done on our potential future Kelowna home? What is the reasoning behind a home inspection?

A home inspector will examine all aspects of the home that you may not notice when walking through the

large magnifying glass over a Kelowna living room

What will your home inspector look for?

home.

Things a Home Inspector will look for,

  • Heating

  • Roof

  • Walls

  • Foundation

  • Electrical system

  • Attic

  • Ceilings

  • Much much more!

The home inspector will be able to give you a detailed outline of what is wrong with the home and what you may have to replace down the road. This can save you money as you know if there will be any big expenses coming up to be aware of and if this Kelowna home is still a contender!

Most of the time a home inspection will be a “subject” on your purchase contract. Now the benefit in placing as a subject on your home is if there is substantial underlying damage on the home that you could not have noticed while doing the initial viewing, you can most of the time, back out of the sale.

We highly recommend attending the home inspection. We especially recommend attending the inspection if you are a first time home buyer as will have more questions about your first home that your inspector can answer. Attending your home inspection has plenty of benefits. The inspector will not only walk through the home and give you and the seller a detailed outline of the condition of the home but they can also walk you through where all of the shut off valves are, inform you of approx life of your roof, appliances etc. and is there to answer any questions or concerns you may have of the home.

If you are still struggling to see the importance of a home inspection, contact the team at Quincy Vrecko and Associates! One of our knowledgeable associates would love to sit down and discuss the importance of a home inspection! Call 1-778-760-2860!

 

Canada Day in Kelowna

Happy 150th Canada! Canada Day is just around the corner and it’s a big one this year! Are you struggling to arrange a plan for this big day? The team at Quincy Vrecko and Associates have done some digging and found the following great ideas for you and your family to enjoy this Canada Day.

Start your day off by heading over to the Prospera Place and enjoy folk styling dancing & singing! Don’t take off yet, enjoy some amazing German sausages and desserts from all over the world. Did I say dessert? Sure did, a birthday wouldn’t be a birthday without an amazing cake! Wish Canada a Happy Birthday after the amazing performance by enjoying a delicious piece of cake around 1:00PM.

Now if you are still not full from the amazing food held at Prospera Place, head on over to Water Street where they will be featuring some of the best 18 food trucks in Kelowna! Take a delicious bite of food and stroll through Made in Canada Marketplace. Support local companies by purchasing Canadian arts and crafts from some amazing locals.

Are you looking for activities for the young ones? Not to worry, take them over to Pioneer Gardens where there will be a Kids Zone with inflatable bouncers! Head over afterwards to the Kelowna Art Gallery to partake in some chalk art and paint-a-box!

Other amazing activities this year all over Downtown Kelowna are,

  • Ki-Low-Na Friendship Centre “Blanket Exercise”

  • Great Canadian Colour’in provided by Opus

  • Parks Alive – Power Stage

  • TD Beach Stage

Even though the Canada Day fireworks have been postponed for August long weekend, there are tons of great activities to partake in this year to wish Canada a big Happy Birthday! Enjoy these activities and more this Canada Day in our beautiful city!

Are you looking to purchase a home in our beautiful city Kelowna? Contact the team at Quincy Vrecko and Associates. Aside from providing you information on what to do this Canada Day, the team at Quincy Vrecko and Associates are here to provide you information on the Kelowna market to prepare you to purchase your home. Contact a team member today 1-778-760-2860!