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How to Pay Yourself

The topic really is about how to protect yourself against inflation, it just didn't sound that catchy, but in a way, you are paying yourself. This is great and all, but what will the true cost of all this be besides an increase in taxes? I don't claim to be an expert, but I believe with all the printing of money that is going on in Canada and across the world we are set to experience strong inflationary pressures. The Government of Canada in the past has tried to maintain the inflation rate at 1%-2% per year, they control the inflation rate with interest rates. Prior to a few weeks ago the Bank of Canada(BOC) would try to target 2% inflation, which means adjusting interest rates before it

What do homes typically sell for?

You see the homes come on the market, you see what they are listed for, then you see the sold sign go up but you not sure what it sold for. Unless you talk to the sellers, have a realtor look for you, or view the sold's in my weekly email. There is a general rule of thumb which is the ratio of the list price to the sale price. But the economist side of me uses this statistic to offer insight into current market conditions and consumers' motivation. A lower ratio, means people are willing to negotiate more. A ratio closer to 100 means there is not much room for negotiation. This will depend from deal to deal but the ratio typically will give an idea of a general overview of the market.

Is it a Buyers or Sellers market?

After taking sustaining a slowdown n April and May the housing market rebounded in June, beating out last year's sales for the same time period of 2018 by 9 sales. We are also experiencing low inventory, so what does that mean for the type of market are we currently in? You've likely heard the terms like "buyers market", "seller's market" or a "balanced market". How do we determine what market it is? We look at months of inventory to give us an idea of what type of market we are in. So where are we at? Anything from 0-4 months is considered a seller's market, anything 4-6 months is considered balanced market, and anything with 6+ months of inventory is considered a buyers market. Comparin

Local Kelowna Farmers & Crafters Market

In support of local small businesses that are one of the majorly impacted businesses due to the lockdown and quarantine. I went out to create better awareness of local businesses with hopes more people support them in this time of difficulty. You can get out and enjoy farmers markets from Lake Country to Peachland each day of the weekend starting Friday to Sunday as well as Wednesday. This month I went down to the Kelowna Farmers Market where its a great place to get locally sourced and produced items. Here is some information I found out. • One particular farm generates up to 65% of there yearly income from local farmers markets. •85-90 vendors currently, down from 165 last year •You can en

Kelowna and West Kelowna Real Estate Market June Stats

495 total Residential sales in June, UP from June 2019 of 465. 3,104 total listings down 12% from June 2019 (3,502) and up from May of 2,917. May Average Days on Market was 70 which is down from 80 days in May 1053 New Listings very similar to last June of 1061 and up from 865 in May. Single Family Residential Homes 266 Sales in June (up from 227 May 2019, up from148 sales in May) Current inventory at 1325 ( Down from last Junes inventory of 1602 but up from May 2020 inventory of 1257.) Median sale price $686,250 up from May $667,750. Townhome Sales 77 Sales in June which is up from 54 sales in May and just down from 80 last June Current inventory at 411 down from June 2019 inventory of 42

 

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