Wednesday, May 25, 2011

Karen Guy, REALTOR® ~ West Kelowna ~ This is why Real Estate is Rewarding to me

I received this email from my client a few days ago.  We had an offer on their property but could not come together with terms acceptable to both parties and my clients decided that in their best interest, they should be staying where they are.  But, as a REALTOR®  when a home doesn't sell, does that mean that we didn't do our job?  Not at all, we work very hard in the hopes that our efforts and marketing attempts bring buyer's and seller's together but sometimes, for one reason or another, it just doesn't happen.

Receiving this letter makes these scenarios worth all the while.  Please read what she says.

Dearest Karen, I hope this finds you and finds you well.

I just wanted to touch base with you and thank you for such a superb job with all your efforts on selling our house in such a crazy time for the market.

Your undying attempts and enthusiasm have been second to none.   You were so on the ball with call backs, appointments, and following up with us that we were never left with guessing.

If our circumstances hadn't changed and we had to take our house off the market, I know that YOU would have sold our house.  We have bought and sold many houses in the past and you are by far the most incredible realtor we have signed with.  Thank you Karen for all your hard work, generosity and enthusiasm, you certainly made it easy and a pleasure to deal with.

When we do put the house back on the market, you can be assured that we will be using you again. I can't think of anyone else that we would rather use.

Thanks again Karen for being so amazing,

With much appreciation,

Greg and Bonne Dickie

Thank you Greg and Bonne for taking the time to express how you felt about the Customer Service you received!   Best wishes to you both.

I specialize in selling homes in the in the Okanagan Valley including Westbank, West Kelowna, Peachland with a focus on Rose Valley, Lakeview Heights, West Kelowna Estates and Shannon Lake.

Karen Guy, REALTOR®

I am the GUY that will make a difference!

Coldwell Banker Horizon Realty
C 250.878.3605 O 250.768.8001

Friday, May 13, 2011

Karen Guy, West Kelowna REALTOR® ~ First Time Home Buyer's Program

So your buyer says they qualify for the first time home buyer's program? Be sure to ask questions and determine that they must meet BE all of the following:

  • a Canadian Citizen or a permanent resident as determined by Immigration Canada,
  • a person who has resided in BC for 12 consecutive months immediately prior to the date of registration of the transfer, or who has filed two income tax returns as a BC resident within the last six years,
  • a person who has never, at any time, held a registered interest in a princial residence anywhere in the world (a principal residence is defined as the usual place where an individual resides), and
  • a person who has not previously received an FTHB (first time home buyer) exemption refund.
To download a brochure on the program, click here:

I am the GUY that will make a difference!

I specialize in selling homes in the in the Okanagan Valley including Westbank, West Kelowna, Peachland with a focus on Rose Valley, Lakeview Heights, West Kelowna Estates and Shannon Lake.

Karen Guy, REALTOR® Coldwell Banker Horizon Realty

C 250.878.3605 O 250.768.8001

Sunday, May 1, 2011

Karen Guy, REALTOR® ~ Know the Market Before you Buy in Kelowna

Know the Market before You Buy

The asking prices of most homes on the market indicate the current state of the market, and usually mirror the prices for which other similar homes in the area have recently sold. In deciding upon a selling price, a home-seller must establish a balance between the desire to draw the highest offer and finding a price that will be reasonable enough to attract an appropriate pool of prospects, and competitive offers. While most selling REALTORS® counsel their clients to consider this equation when pricing their home, keep in mind that some homes are not properly priced.

It’s important to educate yourself about the current market before approaching the purchase of a home. The market will always influence a property’s value, regardless of the state of a home, or its desirability. Here are the types of market conditions and how they may affect you:

1. Seller’s Market:

A seller’s market is considered a “hot” market. This type of market is created when demand is greater than supply that is, when the number of buyers exceeds the number of homes on the market. As a result, these homes usually sell very quickly, and there are often multiple offers. As a buyer, you need to consider that many homes will sell above the asking price; in other words, you may have less room to negotiate, and may encounter competing offers. Though most buyers want to get a home for the lowest price possible, reducing your offer could mean opening the door for another buyer instead.

2. Buyer’s Market:

A buyer’s market is a slower market. This type of market occurs when supply is greater than demand, the number of homes exceeding the number of buyers. Properties are more likely to stay on the market for a longer period of time. Fewer offers will come in, and with less frequency. Prices may even decline during this period. As a buyer, you will have more selection and flexibility in terms of negotiating toward a lower price. Even if your initial offered price is too low, the seller will be more likely to come back with a counter-offer, so you can begin the process of negotiation.

3. Balanced Market:

In a balanced market, supply equals demand, the number of homes on the market roughly equal to the number of buyers. When a market is balanced there aren’t any concrete rules guiding whether you should make an offer at the higher end of your range, or the lower end. Prices will be stable, and homes will sell within a reasonable period of time. You will have a decent number of homes to choose from, and may encounter some competition for offers on the home of your choice, or none at all.

Before you make an offer to purchase a home, establish whether the current market is a Buyer’s, Seller’s, or Balanced market. Also, evaluate the price similar properties have sold for in the area, and the length of time these properties spent on the market. Determine how the home you’re considering compares to these other sales. Is this one over-priced, under-priced, or a fair price? By establishing this information prior to making an offer, you will be in a position to negotiate the best price for the home and be prepared for any additional opportunities that may come your way.

Keep in mind, a realtor is trained to provide clients with this information about the market, helping you make the most informed decision possible. The right realtor will guide you through the ups and downs of the market and keep you up-to-date with the types of changes you might expect. These realtor resources and connections will prove to be invaluable as you navigate the real estate market.

The other main factors that affect market value are:

1. Location:

The proximity of the home to amenities, such as schools, parks, public transportation, and stores will affect its status on the market. Also, the quality of neighbourhood planning, and future plans for development and zoning will influence a home’s current market value, as well as the ways in which it might change.

2. Property:

The age, size, layout, style, and quality of construction of the building will all affect a property’s market value, as well as the size, shape, seclusion and landscaping of the yard.

3. Condition of the Home:

This includes the general condition of the home’s main systems, such as the furnace, central air, electrical system, etc., as well as the appearance and condition of the fixtures, the floor plan of the house, and its first appearances.

4. Comparable Properties:

Examine the selling and asking prices of similar homes in the neighbourhood. Ask your Realtor to prepare you a general market analysis of the neighbourhood you’re interested in, so you can determine a range of value for a particular property. A market analysis will provide you with a market overview and give you a glimpse at what other similar properties have been selling for in that area.

5. Market Conditions/ Economy:

The market value of a home is additionally affected by the number of homes currently on the market, the number of people looking to buy property, current mortgage rates, and the condition of the national and local economy.

I am the GUY that will make a difference!

I specialize in selling homes in the in the Okanagan Valley including Westbank, West Kelowna, Peachland with a focus on Rose Valley, Lakeview Heights, West Kelowna Estates and Shannon Lake.

Karen Guy, REALTOR®
Coldwell Banker Horizon Realty

C 250.878.3605 O 250.768.8001

Kelowna Real Estate Agent West Kelowna Karen Guy Realtor