Russ Verhaeghe Revie Verhaeghe John McGann
Combined experience over 60 years! Residential & Commercial. Russ & John, Real Estate Volume IX, Issue VI
Sales Representatives with Royal LePage Kelowna— Revie, Marketing Specialist JUNE, 2011
R&R REST AND RELAX WHILE WE DO THE WORK!
ROYAL LEPAGE KELOWNA REAL ESTATE REPORT
Compliments of “The Homes team”
SALES BY PRICE SUMMARY OF RESIDENTIAL SALES
Mortgage Rate Outlook
Year to Date Year to Date
Mortgage rates have thus far evolved in-line with our
December 2010 forecast, with the 5-year fixed rate
Price Range 2011 2010 TYPE 2011 2010
reaching 5.44 per cent and the 1-year rate hitting 3.50
per cent in mid–February. Mortgage spreads (the dif- 0 to $200,000 3 5 Acreage 7 18
ference between a fixed mortgage rate and the yield Acreage with house 30 36
$200,001 to $240,000 12 5
on Government of Canada bonds) have returned to
$240,001 to $280,000 14 16 Acreage (waterfront) 0 2
historically normal levels and we expect these spreads
to remain fairly stable in subsequent quarters. There- $280,001 to $320,000 39 22 Business 6 8
fore, the path of future mortgage rates will be largely $320,001 to $360,000 65 72 Townhouse 147 185
determined by changes in government bond yields, Condo 195 262
which have moved significantly higher in recent $360,001 to $400,000 85 98
months but are currently being pushed lower by world $400,001 to $440,000 91 107 Duplex 16 36
events. We anticipate that, barring a growth depress- $440,001 to $480,000 54 84 Farms 1 7
ing and sustained rise in oil prices, yields will move $480,001 to $520,000 50 64 IC&I 41 54
gradually higher throughout the year as markets price
$520,001 to $560,000 51 59IC&Lands 2 1
in improving economic conditions and higher inflation
expectations. Rising yields will in turn lead to higher $560,001 to $600,000 20 28Lots 38 71
mortgage rates, likely in the realm of 4.35 per cent for $600,001 to $999,999 64 91Leases 11 10
a 1-year and 5.90 per cent for a five-year fixed rate
$1 Million and over 12 10 Lots (waterfront) 1 0
mortgage by the end of the year. Sentiment about the
US economic outlook has improved dramatically in A FEW MORE STATS Multi-family 1 0
the two months since our last forecast. This is very Average House Price Last Month Multi Plex 2 3
good news for the Canadian economy and also very $477,652 Mobile homes 66 72
good timing as the economy is likely to face some Median House Price Last Month Recreational 2 4
headwinds in 2011 from potential consumer restraint, $434,500
exchange rate pressure on exports and slowing resi- Residential 550 660
Houses listed last month– 448
dential construction. However, the increasingly posi- Residential (waterfront) 8 8
Lakeshore homes sold last mo. 0
tive economic outlook is already in danger of being Timeshares 0 0
swept aside by a looming crisis Average Mobile Home Price—$94,550
in the Middle-East and North Dollar value of sales Last Month 2011 TOTAL 1115 1418
Africa (MENA) region that is $109,937,137
threatening spill-over to global Dollar value of sales Last Month 2010
markets and Canadian interest Res. Mobiles Strata Lots
1627 240 1496 586
Know Someone Buying or Selling? We Love Pay Referrals!
PROGRESS OF THE THREE TOP PATIENTS BLONDE MEN WORKING
Two blonde men were working
for the City Public Works
At a mental health hospital a psychiatrist sets a Department. One would dig a
test to determine the mental progress of his three top hole and the other would
patients. follow behind him and fill the
He gets three chairs and repaints them. Before hole in. They worked up one
they dry, he repositions them in a room in such a side of the street, then down
way that one is in front of the other. After this, he the other, then moved on to
calls the three patients and asks them to sit down. the next street, working
The first two gladly sat on the wet chairs at the furiously all day without rest, one man digging a
front. However, the third who comes in last, takes hole, the other filling it in again.
one look at the wet chair and then proceeds to the
corner of the room where there is a pile of papers. He An onlooker was amazed at their hard work, but
takes one sheet which he drapes on the wet chair be- couldn't understand what they were doing. So he
fore sitting. asked the hole digger, 'I'm impressed by the
Surprised by the action of the third, the doctor asks effort you two are putting in to your work, but I
him why he draped the sheet of paper on the wet chair, don't get it -- why do you dig a hole, only to have
"that's easy," came the reply, "seeing that I am seated at your partner follow behind and fill it up again?'
the back, I needed to be a bit raised if I wanted to see.
The hole digger wiped his brow and sighed,
'Well, I suppose it probably looks odd because
we're normally a three-person team. But today
NOT TO WORRY the guy who plants the trees called in sick.'
While Mark was shopping for pet supplies, one of the
salespeople came running up to him. “Mark! Mark! I
just saw someone driving off with your BMW!”
“Mercy!” Did your try to stop him?” “No,” said the clerk, “but don’t worry.
I got the license plate number!”
A young son asks his father,
"Is it true, Dad? I heard that in
some parts of the world a man
NEW HEAVENLY GUESTS doesn’t know his wife until he
A forester and a lawyer were in car accident and
showed up at the pearly gates together. His father replies,
“That happens in
St. Peter greets them at the pearly gates and takes every country, son.
them to the homes where they will spend all of
eternity. They get into St. Peter's holy vehicle and
head on down a gold road, which turns into a
platinum road, which turns onto an even grander
road paved with diamonds, to a huge mansion
where St. Peter turns to the lawyer and says, here is your home for the rest
of eternity, enjoy! And if there is anything you need, just let me know.
Then St. Peter took the forester to his home, back down the diamond stud-
ded boulevard, down the platinum highway, down the street of gold, down
an avenue of silver, along a stone alley and down an unpaved footpath to a
shack. St Peter says, "Here you go" and goes to leave when the forester says
"Wait minute! How come the lawyer gets the big mansion and I get this
St. Peter says: "Well, Foresters are a dime a dozen here, we have never had
a lawyer before."
FETCH SOME WATER FARMER’S JOE’S SIDE OF THE STORY
Farmer Joe was in his car lawyer, "I'd like to hear what
One day, Grandma sent her grandson Johnny
when he was hit by a truck. he has to say about his
down to the water hole to get some water for cooking
He decided his injuries from favorite mule Bessie."
dinner. As he was dipping the bucket in, he saw two
the accident were serious Joe thanked the Judge and
big eyes looking back at him. He dropped the bucket
enough to take the trucking proceeded, "Well as I was
and hightailed it for the kitchen.
company (responsible for the saying, I had just loaded
accident) to court. In court the Bessie, my favorite mule, into
"Well now, where's my bucket and where's my trucking company's fancy the trailer and was driving her
water?" Grandma asked him. "I can't get any water lawyer was questioning down the highway when this
from that water hole," exclaimed Johnny. "There's a farmer Joe. "Didn't you say, huge semi-truck and trailer
BIG ol' alligator down there!" at the scene of the accident, ran the stop sign and smacked
'I'm fine'?" said the lawyer. my truck right in the side. I
Farmer Joe responded, was thrown into one ditch and
"Now don't you mind that ol' alligator, Johnny. "Well I'll tell you what Bessie was thrown into the
He's been there for a few years now, and he's never happened. I had just loaded other.
hurt anyone. Why, he's probably as scared of you as my favorite mule Bessie into I was hurting real bad and
you are of him!" the...." "I didn't ask for any didn't want to move.
details," the lawyer However, I could hear ole
interrupted, "just answer the Bessie moaning and groaning.
"Well, Grandma," replied Johnny, "if he's as scared of question." I knew she was in terrible
me as I am of him, then that water’s not fit to drink!" "Did you not say, at the shape just by her groans.
scene of the accident, 'I'm Shortly after the accident a
fine'!" Highway Patrolman came on
Farmer Joe said, "Well I had the scene. He could hear
just got Bessie into the trailer Bessie moaning and groaning
and I was driving down the so he went over to her. After
road...." he looked at her, he took out
The lawyer interrupted his gun and shot her between
again and said, "Judge, I am the eyes.
trying to establish the fact Then the Patrolman came
that, at the scene of the across the road with his gun
accident, this man told the in his hand and looked at me.
Highway Patrolman on the He said,
scene that he was just fine. "Your mule
Now several weeks after the was in such
accident he is trying to sue bad shape I
Before a burglary trial, the judge explained to the defendant, my client. I believe he is a had to shoot
“You can let me try your case, or you can choose to have a jury fraud. Please tell him to her.
of your peers.” simply answer the question."
By this time the Judge was How are you
fairly interested in Farmer feeling?"
The man thought for a moment. “What are peers?” he asked.
Joe's answer and said to the
“They’re people just like you – your
“Forget it,” retorted the defendant. “I don’t
want to be tried by a bunch of thieves.”
“You give me half the fish, and I’ll tell my mom to let you live.”
MLS® #10021661 3248 Preston Rd, West Kelowna $529,000 MLS® #10028176 111-3870 Brown Rd, West Kelowna $318,000
MLS® 10015681 2206 Mimosa Drive, Westbank $252,900 MLS® #10029336 46-2250 Louie Dr, Westbank $349,900
Pictures and details regarding these
listings can be viewed by visiting:
MLS® #10025549 63-1929 HWY 97 S, West Kelowna $78,800
MLS® Listing Service Weekly Sales Meetings
Mall Display Centre Home Marketing Action Plan
Internat’l Referral /Relocation Home Buyers Guide
Program Real Estate Planning
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Advertising Commercial Division
Sphere of Influence
HAPPY FATHER’S DAY!
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E. & O.E. The information contained herein was obtained from sources deemed to be reliable, and while thought to be correct, is not guaranteed by ROYAL LePAGE REAL ESTATE SERVICE LTD.
Royal LePage Kelowna
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