experts: real estate column Wednesday, May 17, 2000

REAL ESTATE IN THE OKANAGAN

From Penticton to Osooyos...

By Ozzie Jurock

PENTICTON

From the Indian - Pen-Tak-Tik - "A place to stay forever."

Penticton is located in the heart of the Okanagan Valley between Okanagan Lake and Skaha Lake in the South Central part of British Columbia.

  • The city limits encompass 10,988 acres,
  • There are approximately 32,000 residents
  • The city receives only approximately 11 inches of precipitation per year!
  • Recreation and lifestyle opportunities abound, including the Valley’s best summer beaches.
  • There are three major ski resorts within easy distance.
  • There are more than two dozen golf courses within an hour’s drive of the city.
Roger Love, long term professional manager with Royal Lepage 1-250-493-2244, reports strong market activity. The last week saw 23 sales in his office ... double the last 2 month’s volume!

Lots of high end activity: a waterfront home sold for $770,000. Lots of commercial activity.

Average price Penticton: $151,000

What you can buy here in May 2000:

  • 3 bedroom, den, basement; open view to Lake; Price: $149,900 ... assume first of 138,000 at 7%
  • 3 Bedrooms, 3 baths, huge home; Open views, privacy; Price: $159,000
  • 5 bedrooms older, spectacular view; Price: $164,900
  • New Tudor, 5 bedrooms, 4 baths; Price: $229,000
NARAMATA, KALEDEN

Market not as active as Penticton; Great area favoured by Albertans. Rural country feel…hill, larger properties, great views.

Average Price: $159,000

What you can buy here in May 2000:

  • 3 Bedrooms, 1 bath, spec view; Price: $129,900
  • 3 Bedrooms, 1/3 acre fabulous garden, views; Price: $129,900
  • 4 bedrooms, 1 acre lot; Price:$157,000
SUMMERLAND

Realtors report the market as HOT. More action than in the last two years.

Average Price: $162,000

What you can buy here in May 2000:

  • 5 bedroom home, 1 block from beach; Price: $137,200
  • 2 acre farm, cottage, spec. views of lake; Price: $169,900
  • 2 level 4 bedroom, custom home, views; Price: $189,900
OSOYOOS

Hottest climate in Canada. Market not as active, still slow.

Average Price: $135,000

What you can buy here in May 2000:

  • 1.5 storey, 3 bedroom, in law suite, 1/2acre; Price $87,900 (Kettle Valley 6 such deals)
  • 2 bedrooms, 2 baths rancher 1/4 acre; Price: $99,000
  • Older home with charm; Price: $109,900
  • 3 bedroom rancher, 4 years old, view; Price: $125,000
Many more homes on Jurock.com or call for info on Ozzie’s Newsletter at 604-540-8055




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