West Kelowna Real Estate News!
Welcome to the Shield Real Estate Blog. This is the place to visit when you want the latest West Kelowna real estate news. I share monthly tips on a variety of local real estate topics. Everything from what the market statistics mean to how to amp up your curb appeal! Anything I can share to help you prepare your home and yourself for a potential sale is here. Along with what buyers can expect when they want to purchase a West Kelowna home for sale.
Additionally, I love to keep my customers up to date with information about recent listings and solds on my Facebook page. Staying social is a great way to keep my finger on the pulse of the market. It’s also a great way to keep my customers informed! You never know when it will be time to buy or sell a home, but at least you know who your real estate agent in West Kelowna should be!
Follow along, read and share with me!
West Kelowna REALTOR®: Why Live on the Westside?
Real Estate Articles, West Kelowna Real Estate NewsSpring has almost sprung! If you’re looking to buy a home this season, look no further than West Kelowna. Located directly west across Okanagan Lake, this city is bustling with things to do. From outdoor adventures to culinary experiences, there’s something for everyone. To help you get a better feel for the area, I (your West Kelowna REALTOR®) will be going over some of the reasons why you should invest in a home in this amenity-rich city. Follow along below to learn more!
Why Choose West Kelowna?
West Kelowna is an attractive place to own a home. With panoramic views of Okanagan Lake and the surrounding mountains, there’s no better place to settle down in. By choosing West Kelowna you’ll have access to numerous golf courses, wineries, and top-class beaches. Visit the famous Mission Hill Winery or check out Music in the Park for an afternoon of good tunes.
West Kelowna is always bustling with new home developments. Whether you are looking for a luxury condo or a new single-family home, there are several projects in the works. Some of the most popular developments in the city include Terravita, Eagle Terrace, Leisure Village, and the Highlands. Each of these developments offers different housing options for different groups of people. For instance, Leisure Village is a 55+ gated community. Contrastively, the Highlands is a stratified development that is home to several families.
Moreover, West Kelowna has some excellent schooling options for those with school-aged children. From elementary school to secondary school you won’t have any issues finding a great place to send your child.
Contact a West Kelowna REALTOR® Today!
If you are looking to purchase real estate in West Kelowna, spring is a great time to start your search! For more information about life in West Kelowna, contact a West Kelowna REALTOR® today! I’d be happy to help you sell or buy property in this desirable area of the Okanagan. Be sure to check out my blog next month for more real estate tips and information. I look forward to working with you in the near future!
REALTOR® in West Kelowna on Short-Term Rental Regulations
Real Estate Articles, West Kelowna Real Estate NewsLast year, the province of British Columbia announced that it would be unrolling new legislation to curb short-term rental (STR) activity. The first of these new regulations is set to go into effect in a few months. If you’re wondering how these new rules will impact your investment, you’re in the right place. As a trusted REALTOR® in West Kelowna, I will be going over some of the basics of B.C.’s new STR regulations. Follow along below to learn more!
What to Know About New Province-Wide STR Legislation?
B.C.’s new short-term rental accommodations act is being put into effect in an effort to mitigate the provincial housing crisis. Many residents of the province have found it challenging to find a suitable home. This is due to a shortage of affordable properties and long-term rental options. In response to this, the provincial government has taken action against STR accommodations to help create more housing opportunities for permanent residents.
It’s important to note that the act will not apply to reserve lands, Nisga’a Lands or the Treaty Lands of a Treaty First Nation, hotels, motels, a vehicle, tents, or temporary shelters.
May 1, 2024, will mark the start of new STR accommodation rules. One of these new rules will require rental hosts to display a business license number on their listing. However, this will only be in areas where a business license is mandatory by the local government. Another requirement to be implemented on May 1st is the need for all STRs to only operate out of the host’s principal residence. While this regulation will not apply to all British Columbian cities, it will be enforced in Kelowna and West Kelowna. At this time, there will also be changes to legal non-conforming use protections.
As the year progresses, other obligations such as data sharing and a provincial registry launch will occur.
Those who choose to disobey the STR accommodation act could be subject to large fines. In 2023, the maximum fine that regional districts can set for prosecutions of bylaw offences under the Offence Act went up from $2,000 to $50,000.
Contact Your REALTOR® in West Kelowna Today!
If you are an investor in real estate in West Kelowna, understanding new STR rules is important. For more information about this new legislation and how it will impact homes in the area, contact me today! I’d be happy to help you sell or buy property in this desirable area of the Okanagan. Be sure to check out my blog next month for more real estate tips and information. I look forward to working with you in the near future!
2024 Real Estate Market in West Kelowna
Real Estate Articles, West Kelowna Real Estate NewsHappy New Year everyone! The real estate market in West Kelowna is expected to rebound in 2024, making for some promising opportunities. To help you get started with reaching this year’s estate goals, I am going to be going over a market outlook for houses in West Kelowna. From anticipated prices to provincial and national trends, I’ll cover it all in the article below. Continue reading to learn more about what to expect from the West Kelowna real estate market in 2024!
What to Know About the Real Estate Market in West Kelowna in 2024?
In 2024, the national average home price is said to climb 5.5%. Many major Canadian cities are rumoured to follow suit with this trend; including West Kelowna. Okanagan housing prices are projected to grow by 2% in the coming months. This indicates a return to healthier conditions from where the previous year ended off. Okanagan cities like West Kelowna are part of one of the fastest-growing markets in the country. This status has ensured the market’s longevity and prevented any significant dips in value.
Another change to come this year will be interest rates. Although the Bank of Canada’s key lending rate is anticipated to remain the same for the first half of the year, cuts will likely be made in the second half of 2024. This could yield greater opportunities for residents to re-enter the real estate market after being sidelined.
Sales in the Okanagan region could be dampened as residents adjust to the new mid-single-digit borrowing costs. However, experts are hopeful that they will pick back up in the third and fourth quarters of the year.
Contact me Today!
January is the perfect time to get a jump on your real estate resolutions for the year! For more information about how you can achieve this year’s goals in real estate, contact me today! I’d be happy to help you sell or buy property in this desirable area of the Okanagan. Be sure to check out my blog next month for more real estate tips and information. I look forward to working with you in the near future!