Kelowna Real Estate Mag was invited along to a special evening as Stacey Fenwick gave us a personal tour of the Sopa Square Discovery Centre in South Pandosy. Aj Hazzi and Joel Sherlock from Vantage West Realty were in attendance and both were equally impressed with the Sopa development.
The Sopa Square Discovery Centre is located at 3013 South Pandosy.
A new report from Canada Mortgage and Housing Corporation forecasts new home construction and sales in the Central Okanagan will move higher in 2010 and 2011.
CMHC Market Analyst, Paul Fabri, says demand for new and existing homes are expected to pick up as both regional and provincial economies grow, however, he cautions gains in new home construction and sales of existing homes will be modest.
“Slowly rising mortgage rates will exert a moderating influence, tempering growth in demand later this year,” says Fabri.
He says housing starts, led by the detached home sector will increase this year and next.
“Kelowna’s multi-family construction sector has moved away from large scale apartment-condominium projects.”
Fabri says he does expect condominium construction to pick up again in 2011 as the inventory of completed and unoccupied units and the supply of existing homes available for sale is drawn down.
Existing home prices are also forecast to edge up over the next few years adds Fabri.
He says ample supply in combination with modest growth in demand will limit upward pressure on prices.
“Kelowna’s existing home market is expected to remain stable in a balanced market position through 2011.”
The real estate market in Kelowna is expected to strengthen in 2010.
According to a recent report by REMAX, house prices in Kelowna will increase about 5 per cent in 2010.
Property values in and around Kelowna fell slightly this year, but there is good news on the horizon.
Top performers in terms of unit sales appreciation in [...]
Shane Styles, Director of Sales for Sonoma Pines knows the sights of success. I can see all of the construction from my sales office, he explains with a smile. We have enjoyed a phenomenal year in spite of all the real estate reports. With over 80 construction workers and 43 homes currently under construction, Styles [...]
Sopa Square is the newest development to showcase itself on the Kelowna Real Estate market.
The Sopa Square development is the brainchild of Edgar Fenwick who’s ambition is to create a community where people can live, work and play and have it all within walking distance….. throw the car keys away!!
The development team have [...]
Striking a most impressive sight rising up from Brandts creek is the Skye highrise part of the Waterscapes development in downtown Kelowna.
The contemporary styled 26 storey residential tower we’ve been informed will be due for completion in early 2010.
The Waterscapes team recently held a “roof topping off” party to mark the latest construction phase.
With sleek [...]
The fires that raged around the Okanagan Lake last week did give the impression that this would be the last place you’d want to consider investing Kelowna Real Estate, but according to the Globe and Mail it has done little to dampen the allure of a lifestyle by the shimmering Lake Okanagan.
“Canadians have fallen in [...]
Looking out across the Okanagan Lake we can see that there is a powerful wildfire developing in West Kelowna. Latest news is that the fire has jumped Highway 97 and is spreading down towards the Lake.
We do wish everyone a safe evacuation…. our thoughts are with you and your families.
Has the glorious weather started to seduce people into wanting that little piece of the good life that is Kelowna living?
Are people starting to buy once again?
According to John Geha President of Coldwell Banker of Canada, “It will be real estate that starts to stimulate the economy.” He also believes that the first time [...]