About North Okanagan, BC

Here are the numbers for North Okanagan real estate market activity for October 2009. This includes real estate transactions from Enderby, Armstrong, Coldstream, Lumby, Cherryville, Falkland and Vernon BC real estate and the surrounding areas. You can see a slide presentation on our web site of the last 2 years key performance indicators and the North Okanagan real estate trends.

We will post our rolling update information shortly.

`Residential
New Listings	118
Listings Sold	73
Median Price	354,000
Range	$165,000-$2,640,000
Days to Sell	111
Range	0-838
Inventory	621
Hottest Neighbourhood	East Hill

Condo / Apartment
New Listings	15
Listings Sold	7
Median Price	$165,000
Range	$93,000 -$240,000
Days to Sell	129
Range	36 - 361
Inventory	139
Hottest Neighbourhood	Alexis Park

Condo / Townhouse
New Listings	41
Listings Sold	27
Median Price	$237,000
Range	$216,000 - $1,375,000
Days to Sell	160
Range	14 - 453
Inventory	180
Hottest Neighbourhood	Alexis Park

Building Lot
New Listings	37
Listings Sold	10
Median Price	$185,000
Range	$72,500 - $348,000
Days to Sell	240
Range	8 - 733
Inventory	546
Hottest Neighbourhood	Coldstream

See you online,

Brell ~ Brenda Ellis REALTOR with TheOkanaganRealEstateHub.com @ Century 21 Executives Realty Ltd

(250)550-2161 Direct Dial

(250)549-2103 Office Reception

1-877-227-4073 Toll Free

(250)308-4310 SMS

Century 21 Executives Realty Ltd.

2907 - 32nd St.

Vernon, BC V1T 5M2

In real estate location is not everything - and timing can change everything.

I remember meeting Leona Snider (CEO for Okanagan real estate development "The Rise")- a powerhouse of a woman full of great passion when she came to present a project update at a Century 21 Executives Realty sales meeting - what must be now 3 or even 4 years ago. I came away with the thought that it takes courage, massive dedication, resources and yes balls to be a real estate developer...especially one who dares to create new living concept.

I think it is important to honour people like Leona who have the courage to act on their dreams. I hope that our announcement today that an offer to purchase the project (subject only to court approval - all other conditions having been satisfied) will be a welcome one for her - and one that will come to be seen as the end of a dark chapter in the story of her vision - but not the end to it.

For an update on the Accepted offer to purchase THE RISE

There is a poignancy to transactions like this - in those that have been either foreclosed or under creditor protection. I remember being excited to get my first "foreclosure" listing over a year ago... right up until the time I put the key into the lock and opened the door onto someones abandoned hope. That feeling was amplified enormously this spring when we took on the Port Side Court receivership sale in Sicamous,BC On one hand I was tasked with creating excitement around the "deal" of receivership and on the other - we faced the enormous sense of very real loss for the family involved.

Opportunity is everywhere. Without the courageous and creative we would live in a very different world.

On twitter today I answered the question "if you could have 1 lunch with 1 celebrity... who would it be and why?" with "Steve Nash - short white BC kid repeats as NBA MVP - courage, drive, determination and application of massive skills" or something like that.

Leona - I salute you. You are right up there with Steve in my books. I hope that we all can see your dream come true - thank you for sharing it with the world.

See you online,

Brell ~ Brenda Ellis REALTOR with TheOkanaganRealEstateHub.com @ Century 21 Executives Realty Ltd

(250)550-2161 Direct Dial

(250)549-2103 Office Reception

1-877-227-4073 Toll Free

(250)308-4310 SMS

Century 21 Executives Realty Ltd.

2907 - 32nd St.

Vernon, BC V1T 5M2

Much has been said about "The Rise" a Vernon BC real estate development in the Okanagan Valley since the project was announced and initial real estate products were scooped up in a frenzy. LEONA SNIDER - CEO, THE RISE is quoted on the real estate development home page: "It's an experience like no other, to see your dreams come true. This has been a long standing dream of mine." Both the perception and the reality of real estate in North America is much different today than it was in 2005. As recently as last Thursday I was reading stories that discussed The Rise (see below) Today, we announce an accepted offer to purchase the property and the project.

After many months of work and negotiation, Scott Davidson -REALTOR with Century 21 Executives Realty Ltd. and Bill Hubbard, Broker Owner of Century 21 offices in Vernon, Kelowna and other Okanagan locations announce that a deal has been reached. "With the removal of the financing conditions, and the seller ceasing to be obligated to any other offers to purchase as of yesterday - the deal became as firm as it can get in a transaction requiring court approval- which is the only hurdle left at this time." said Davidson - the buyers REALTOR(r)

The offer - details of which remain confidential, will be the source of much speculation and coffee talk in real estate offices and within the local trades. "What I can say, and would like to stress is that the purchaser insisted on presenting an offer that more than covers the debts. We want the trades to know we intend to continue with the project and we will need you to create saleable real estate on this land" said Davidson. With that, it would seem that the torch of "The Rise" will indeed be passed into hands that will continue to nurture its promise and possibility to fruition.

Just last week Jim Sutherland of the Globe and Mail. wrote:

"Leona Snider can pinpoint the Great B.C. Land Bust to the day: September 9, 2008.

Until that fateful date, it looked as if the 19 years of work that she'd put into her dream would finally come to fruition. The Rise, her 735-acre hillside development-"the most beautiful spot in the province," she says-was the first anywhere on North America's west coast to incorporate a winery component. Above the home sites, climbing toward a mountaintop plateau, was a designer golf course; below, on Lake Okanagan, a private beach club. Estimated build-out: $1 billion. On the day sales opened in 2005, 40 of 53 home sites on offer were snapped up in 90 minutes."

Project lender Calgary-based Arres Capital, backed out of the project on September 9^th and within weeks, Snider was in court seeking bankruptcy protection for approximately $50 million in liabilities.

For more information about Okanagan Real Estate, please feel free to visit us online at TheOkanaganRealEstateHub.com or DevelopmentsOkanagan.com Click here to subscribe to our blog or follow us on Twitter @RealEstateHub

See you online,

Brell ~ Brenda Ellis REALTOR with TheOkanaganRealEstateHub.com @ Century 21 Executives Realty Ltd

(250)550-2161 Direct Dial

(250)549-2103 Office Reception

1-877-227-4073 Toll Free

(250)308-4310 SMS

Century 21 Executives Realty Ltd.

2907 - 32nd St.

Vernon, BC V1T 5M2

North Okanagan real estate sales activity remained steady last week with 25 properties moving from for sale to sold status between October 26, 2009 to November 1, 2009.

For more details on the homes, lots, acreages, apartments and townhomes that sold please visit our Okanagan Market Stats web page for a free downloadable pdf report.

Lots and Acreages for sale:

There was no sales activity in the building lots for sale or bare land acreage listings in this report period, with no properties showing as sold..

Manufactured Homes for sale:

One manufactured (mobile) homes sold during the week in the North Okanagan. It was located in Enderby BC. The sale price of this mobile was $60,000 on list price of $69,000. This meant sellers accepted 87.0% of asking price after a current list period of 127 days.

Single Family Residential Homes for sale:

In the past week, 20 homes for sale in Vernon BC and the surrounding North Okanagan communities moved to sold status.

These homes were on the market an average of 91 days and sold for median sales price of $370,000 on a median list price of $399,150. Listing prices for the homes that sold ranged from $234,900 to $609,000 and the corresponding sale prices ranged from $218,000 to $604,000.

No sellers realized 100% or more of their list price in the single family home for sale market. On average sellers accepted 96.6% of the current listed price with the lowest accepted price reflecting 92.8% . Four of the properties sold for less than $300,000. In the Over $500,000. segment of the North Okanagan real estate market - three properties sold. Two of these homes were Coldstream real estate and the third was located in the Seasons development within Okanagan Landing, Vernon BC.

Strata properties for sale:

In the sector of Vernon BC and North Okanagan real estate that includes apartments, condos, and attached, semi detached and detached townhomes, 4 properties moved from for sale to sold status during this week. These properties had current listings that averaged 193 days in length. The middle or median list price was $332,500 and the median sale price was $264,500. Days on the market ranged from 40 to 316.

On average - sellers accepted 93.8% of the current list price for strata homes. The amounts accepted ranged from 88.6% to 100% of the last listed price. List prices ranged from $228,000 to $539,000 with sales of from $222,000 to $480,000.The townhome that sold for 100% of list price was located in Armstrong, BC real estate.

See how this compared to the previous posts we published about Vernon BC and area real estate.

For more details on the homes, lots, acreages, apartments and townhomes that sold please visit our Okanagan Market Stats web page to download a free report with the listing details.

See you online,

Brell ~ Brenda Ellis REALTOR with TheOkanaganRealEstateHub.com @ Century 21 Executives Realty Ltd

(250)550-2161 Direct Dial

(250)549-2103 Office Reception

1-877-227-4073 Toll Free

(250)308-4310 SMS

Century 21 Executives Realty Ltd.

2907 - 32nd St.

Vernon, BC V1T 5M2

Here is an overview of the real estate sales activity in North Okanagan real estate from October 18 to October 25, 2009.

For more details on the homes, lots, acreages, apartments and townhomes that sold please visit our Okanagan Market Stats web page for a free downloadable pdf report.

Lots and Acreages for sale:

Only a single lot for sale moved to sold status. The sale price of this lot was skewed because it was contingent - or dependant upon the buyer entering into an agreement with the builder of the community in which it was purchased - therefor the lot price was rolled into a price that includes the finished home.

No acreages were sold in North Okanagan real estate last week.

Manufactured Homes for sale:

One manufactured (mobile) homes sold during the week in the North Okanagan.it was located in Lumby BC. The sale price of this mobile was $38,000 on list price of $49,900. This meant sellers accepted76.2% of asking price after a current list period of 92 days.

Single Family Residential Homes for sale:

In the past week, 7 homes for sale in Vernon BC and the surrounding North Okanagan communities moved to sold status.

These homes were on the market an average of 82 days and sold for median sales price of $345,000 on a median list price of $354,900. Listing prices for the homes that sold ranged from $239,900 to $519,900 and the corresponding sale prices ranged from $233,000 to $503,000.

No sellers realized 100% or more of their list price in the single family home for sale market. On average sellers accepted 96.0% of the current listed price with the lowest accepted price reflecting 87.7% . Four of the properties sold for less than $300,000. In the Over $500,000. segment of the North Okanagan real estate market - only one property sold. It was located in Coldstream real estate.

Strata properties for sale:

In the sector of Vernon BC and North Okanagan real estate that includes apartments, condos, and attached, semi detached and detached townhomes, 6 properties moved from for sale to sold status during this week. These properties had current listings that averaged 225 days in length. The middle or median list price was $224,950 and the median sale price was $212,500. Days on the market ranged from 119 to 369.

On average - sellers accepted 92.1% of the current list price for strata homes. The amounts accepted ranged from 76.4% to 99.2% of the last listed price. List prices ranged from $175,000 to $399,000 with sales of from $165,000 to $317,,000.

See how this compared to the previous post we did about Vernon BC and area real estate.

For more details on the homes, lots, acreages, apartments and townhomes that sold please visit our Okanagan Market Stats web page to download a free report with the listing details.

See you online,

Brell ~ Brenda Ellis REALTOR with TheOkanaganRealEstateHub.com @ Century 21 Executives Realty Ltd

(250)550-2161 Direct Dial

(250)549-2103 Office Reception

1-877-227-4073 Toll Free

(250)308-4310 SMS

Century 21 Executives Realty Ltd.

2907 - 32nd St.

Vernon, BC V1T 5M2