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Mario Paré Mario Paré

250.215.6977 (Mobile)
250.860.1100 (Office)

Royal LePage Kelowna
1 - 1890 COOPER
Kelowna, BC V1Y8B7

In this issue...
· Featured Listing
· Real Estate stats for Central Okanagan
· How Well Do Know the Real Estate Business
· Living in the Okanagan
NewLeaf Flights Starting at $89 One-Way

Travel Company NewLeaf has announced its non-stop routes from Kelowna to various destinations with fares that start at just $89.

Customers will be able to begin flying on the airline starting February 12th, 2016. Flights will be between Halifax, Hamilton, Winnipeg, Regina, Saskatoon, Abbotsford, and Kelowna.

Read more at: https://goo.gl/dRoYNN
Featured Listing
Featured Listing $199,000 Condo at Big White

Roomy 4 bedroom unit close to everything at Big White. Great for the extended family - will sleep at least 9 in comfort. Steps to skiing and a short walk to the Village Plaza mean parents can leave the car in the parkade and enjoy their time skiing. Fully furnished and supplied for immediate use. Can be rented or used as a vacation home or combination of both.
MLS#10102827 Read more at: http://goo.gl/2QNzjP

Real Estate stats for Central Okanagan

Sales YTD are up 7.67%. Median price last month was $463,125. Listings YTD are up 0.89%. List/Sales Ratio last month 116.67%. Months of inventory is 4.21.

Sales YTD are up 13.05%. Median price last month was $244,000. Listings YTD are up 11.17%. List/Sales Ratio last month 111.94%. Months of inventory is 4.63.

Sales YTD are up 10.32%. Median price last month was $377,000. Listings YTD are down -0.87%. List/Sales Ratio last month 154.05%. Months of inventory is 4.37.

Sales YTD are down -15.16%. Median price last month was $269,500. Listings YTD are up 3.02%. List/Sales Ratio last month 25% Months of inventory is 21.93.

Sales YTD are up 5.51%. Median price last month was $107,000. Listings YTD are up 2.56%. List/Sales Ratio last month 38.89%. Months of inventory is 15.43.

For more detailed statistics go to: https://goo.gl/SI2yGs

The List/Sales Ratios give an indication of whether we are moving into a balanced or seller's market. Once we get below 6 months of inventory, combined with a 60% or more List /Sales Ratio, we know this is a good indication that we are moving into a seller's market.

How Well Do Know the Real Estate Business

Last month I had a young couple inquiring about a listing and when I asked to meet with them before we see the property, they asked why. I explained that my responsibility as an agent is to qualify them, so we're not wasting the seller's time and tying up their home for weeks with an offer that won't be completed because of a lack of due diligence.

They were a bit surprised because no other listing agent mentioned this and just let them view the properties without meeting first.

Which leads me to think; maybe not all perceptions of the real estate market are the fault of the agents. Maybe the public needs to make more of an effort to understand their role when being given important information.

The rules state that before acting as an agent for a buyer or seller, we must explain our service plan, establish the amount of our fee (including how and when it will be paid) and put it in writing. Then, and only then, can we provide the services contracted.

From CREA’s Standards of Business Practice:

Article 2. “A REALTOR® shall fully disclose in writing to, and is advised to seek written acknowledgment from, his or her Clients and those Customers who are not represented by other Registrants regarding the role and nature of the service the REALTOR® will be providing. This disclosure shall be made at the earliest possible opportunity and in any event prior to the REALTOR® providing professional services which go beyond providing information as a result of incidental contact by a consumer.”

To read more: http://www.crea.ca/code .

Living in the Okanagan

It's time to dine around...This is the 14th annual event, created by the BC Restaurant Food Services Association, for foodies with the seasonal blues.

The annual event is always held at the end of January for good reason.

“This is typically the slow time of year at restaurants so it helps them. Also consumers, over the Christmas rush, might have a tight budget – so it gives consumers an opportunity to go out and have an incredible three-course dinner for a really affordable price,” said Christina Ferreira, coordinator for Dine Around Thompson Okanagan.

Read more at: http://goo.gl/512Yp3

TESTIMONIALS: http://goo.gl/vtq35S
All offices are independently owned and operated, except those offices marked as "Royal LePage Real Estate Services Ltd." Not intended to solicit currently listed properties. The above information is from sources believed reliable, however, no responsibility is assumed for the accuracy of this information.

©2016 Brookfield Real Estate Services Manager Limited.