Real Estate Bubble Canadian Style

The real estate market bubble has burst all around the world since 2008, and now the question is the real estate bubble coming to Canada? Maybe Kelowna?

Home owners that purchased homes only 5 years ago are finding their property prices are lower than their original purchase price, as they go to renew their mortgages. This is not a problem for those that intend on staying put, but for those that are want to move to something larger are now having to wait.

This creates lower demand for mid priced homes and less supply of entry level properties. Add to this the recent changes to mortgage amortizations and a real estate bubble may be coming to a Canadian town/city like Kelowna.

Check out this article and video from the CBC

Save by Going Green

The real estate market has slowed in the Okanagan and many are asking what can be done to find more buyers.  


Government has come up with a program that encourages home sellers  to improve the energy efficiency of their homes with rebates and at the same time give a rebate on CMHC fees to the purchaser of the home.


For more details on how this program works here is details from Kelly Wolfe Mortgage Broker from Lending Max ...

Downsizing in 3 Easy Steps

As a financial professional most of time I only get calls when someone is in a financial transition (that is financial speak for a change that has not been planned for).


The loss of a job, forced retirement, dealing with aging parents and the dreaded sale of family home or now referred to as "downsizing".


The idea of downsizing is a good one. Your new smaller home is cheaper, easier to maintain and if properly located can save money on transportation. More money in your pocket the better your retirement ... but is it worth the pain of change?

Can Rich Dad Make You Rich?

They come every year to Kelowna, seminars promising financial success in a few easy steps, using your credit card and a new method. 


Financial Gurus selling secret systems, special investments, and incredible tax strategies. But do these things actually work?

John Daly Cup 2009 OMREB Charity Golf

Sun was out and clubs where swinging at the 2009 OMREB Charity Golf Tournament at Michael Brook Ranch.

Realtors, Mortgage Brokers, Lawyers, their friends and families from around Kelowna, West Kelowna and the surrounding Okanagan Valley came together to raise money for The Kelowna Women's Shelter and the Kelowna Hospice.

The total raised was almost $4,000!

In total 18 teams and almost 100 realtors participated in the Texas Scramble event. Prizes where awarded for putting, longest drive, lowest over all score and again at the 2nd hole, saw the return of infamous "John Daly Cup".

The event was the brain child of Philippe Daigle of Invis Mortgage and Mike Hassard in 2008. The challenge to all the participated ... the closest drive to pin WITH A PUTTER! The event was so much fun ... they were asked to come back in 2009!

In just the third rotation ... Roger Cyr with Cyr and Associates had hit the green using his favorite putter. His drive almost held up until Gloria Bedwell of Realty Executives drove off the tee closer to the pin.

So just how hard is it drive with a putter? Check out video results at http://omrebjohndalycup2009.blogspot.com/

This years the hole was run by Mike Hassard, Philippe Daigle and Shawn McMann.

A special thank you to Okanagan Mainline Real Estate Board, Nancy Mackellar with Royal Lepage, Mark Jennings-Bates with Coldwell Banker and the staff at Michael Brook Ranch Golf Course for putting on a great event.

Mike Hassard Kelowna