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					 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
                                                                                                      ACTIVE LISTINGS
markets and Canadian interest                                                                         Res.   Mobiles   Strata   Lots
                                                                           $178,621,517
rates.
                                                                                                     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.'
Blonde Clerk
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
                                                                                            marries her”
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
shack?"

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
                equals.”

“Forget it,” retorted the defendant. “I don’t
  want to be tried by a bunch of thieves.”




                                                                                               PARTNERSHIP
                                                                   “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:
                                                                                                    TheHomesTeam.com
MLS® #10025549 63-1929 HWY 97 S, West Kelowna                               $78,800

                                       SERVICES PROVIDED
     MLS® Listing Service                                          Weekly Sales Meetings
      Mall Display Centre                                        Home Marketing Action Plan
 Internat’l Referral /Relocation                                    Home Buyers Guide
        Program                                                        Real Estate Planning
    Internet/Intranet                                                   Special Programs
       Advertising                                                     Commercial Division
      Open House
   Sphere of Influence
    Office Tours
                                             HAPPY FATHER’S DAY!


 To be included or removed from our mailing list, please call Revie at 707-1722 or email revie@shaw.ca.
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
11—2475 Dobbin Road                                                               RUSS’S CELL: 250-868-5050
Westbank, BC V4T 2E9
                  We love to pay referrals
                                                                                  JOHN’S CELL: 250-300-4171
            and we’re never too busy for yours!
                                                                                  OFFICE/PAGER: 250-768-2161

				
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