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People are at the heart of real estate for this Okanagan team – Penticton Western News

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We often talk about real estate in terms of a financial transaction or investment. While both those things are definitely true, they ignore the fact that most often, real estate is about people – someone’s first home, memories they made at the family cottage, or the home where they raised their children.

It’s a philosophy firmly at the heart of the business for Mathew Lewis and Karen Lewis, the Managing Broker/Owners of RE/MAX Wine Capital Realty.

Mathew and Karen launched the brokerage in 2006 after moving to the south Okanagan in the early ’90s, and today 14 full-time agents are serving the needs one home buyers and sellers throughout the Okanagan Valley.

Karen Lewis and Mathew Lewis, Owners / Managing Brokers of RE/MAX Wine Capital Realty.

As a smaller, boutique agency, they’re able to embrace that personal aspect of their business, which, married with a commitment to smart and hard work, has helped the brokerage earn No. 1 market share since their opening almost 20 years ago.

“Our business strategy has been to outwork the competition, provide steadfast consistency, all while continually striving to ensure our customers are happy with their real estate decisions”.

This client-first approach recognizes that as realtors, their job is to help clients navigate what can be a very stressful time, whether someone is purchasing their first condo, downsizing from the family home or expanding commercial or agriculture businesses

“A lot of real estate is very much focused on ‘the deal.’ We like to make sure our clients have options. It’s very important that they’re comfortable with their decisions,” Mathew says.

A full-service real estate brokerage

Whether you’re looking for your dream home in a tight market, scouting the perfect commercial location for your new business or considering a vacation property, this skilled, experienced team can help you navigate the Okanagan market.

Wine Capital Realty is conveniently located in the heart of downtown Oliver at 444 School Ave .

“A lot of our agents have been with us right from the start of their careers,” a testament to the brokerage’s approach.

“It’s essential, in a smaller community, that we’re skilled in both sides of real estate – both buying and selling,” Mathew notes. In addition, the team also manages hundreds of rental properties in the area.

At the end of the day, it all comes back to those personal interactions.

“I love the people,” Mathew says of his real estate career. “It’s one of the few jobs that lets me get involved with people and my community outside of a brick-and-mortar building. And my day is different, every day.”

Wine Capital Realty is conveniently located in the heart of downtown Oliver at 444 School Ave., but you can also visit them online at winecapitalrealty.com or connect by phone at 250-498-6500 or 888-498-6588. You can also stay up-to-date with the latest news on Facebook.

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Greater Toronto home sales jump in October after Bank of Canada rate cuts: board

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TORONTO – The Toronto Regional Real Estate Board says home sales in October surged as buyers continued moving off the sidelines amid lower interest rates.

The board said 6,658 homes changed hands last month in the Greater Toronto Area, up 44.4 per cent compared with 4,611 in the same month last year. Sales were up 14 per cent from September on a seasonally adjusted basis.

The average selling price was up 1.1 per cent compared with a year earlier at $1,135,215. The composite benchmark price, meant to represent the typical home, was down 3.3 per cent year-over-year.

“While we are still early in the Bank of Canada’s rate cutting cycle, it definitely does appear that an increasing number of buyers moved off the sidelines and back into the marketplace in October,” said TRREB president Jennifer Pearce in a news release.

“The positive affordability picture brought about by lower borrowing costs and relatively flat home prices prompted this improvement in market activity.”

The Bank of Canada has slashed its key interest rate four times since June, including a half-percentage point cut on Oct. 23. The rate now stands at 3.75 per cent, down from the high of five per cent that deterred many would-be buyers from the housing market.

New listings last month totalled 15,328, up 4.3 per cent from a year earlier.

In the City of Toronto, there were 2,509 sales last month, a 37.6 per cent jump from October 2023. Throughout the rest of the GTA, home sales rose 48.9 per cent to 4,149.

The sales uptick is encouraging, said Cameron Forbes, general manager and broker for Re/Max Realtron Realty Inc., who added the figures for October were stronger than he anticipated.

“I thought they’d be up for sure, but not necessarily that much,” said Forbes.

“Obviously, the 50 basis points was certainly a great move in the right direction. I just thought it would take more to get things going.”

He said it shows confidence in the market is returning faster than expected, especially among existing homeowners looking for a new property.

“The average consumer who’s employed and may have been able to get some increases in their wages over the last little bit to make up some ground with inflation, I think they’re confident, so they’re looking in the market.

“The conditions are nice because you’ve got a little more time, you’ve got more choice, you’ve got fewer other buyers to compete against.”

All property types saw more sales in October compared with a year ago throughout the GTA.

Townhouses led the surge with 56.8 per cent more sales, followed by detached homes at 46.6 per cent and semi-detached homes at 44 per cent. There were 33.4 per cent more condos that changed hands year-over-year.

“Market conditions did tighten in October, but there is still a lot of inventory and therefore choice for homebuyers,” said TRREB chief market analyst Jason Mercer.

“This choice will keep home price growth moderate over the next few months. However, as inventory is absorbed and home construction continues to lag population growth, selling price growth will accelerate, likely as we move through the spring of 2025.”

This report by The Canadian Press was first published Nov. 6, 2024.

The Canadian Press. All rights reserved.

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Homelessness: Tiny home village to open next week in Halifax suburb

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HALIFAX – A village of tiny homes is set to open next month in a Halifax suburb, the latest project by the provincial government to address homelessness.

Located in Lower Sackville, N.S., the tiny home community will house up to 34 people when the first 26 units open Nov. 4.

Another 35 people are scheduled to move in when construction on another 29 units should be complete in December, under a partnership between the province, the Halifax Regional Municipality, United Way Halifax, The Shaw Group and Dexter Construction.

The province invested $9.4 million to build the village and will contribute $935,000 annually for operating costs.

Residents have been chosen from a list of people experiencing homelessness maintained by the Affordable Housing Association of Nova Scotia.

They will pay rent that is tied to their income for a unit that is fully furnished with a private bathroom, shower and a kitchen equipped with a cooktop, small fridge and microwave.

The Atlantic Community Shelters Society will also provide support to residents, ranging from counselling and mental health supports to employment and educational services.

This report by The Canadian Press was first published Oct. 24, 2024.

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Here are some facts about British Columbia’s housing market

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Housing affordability is a key issue in the provincial election campaign in British Columbia, particularly in major centres.

Here are some statistics about housing in B.C. from the Canada Mortgage and Housing Corporation’s 2024 Rental Market Report, issued in January, and the B.C. Real Estate Association’s August 2024 report.

Average residential home price in B.C.: $938,500

Average price in greater Vancouver (2024 year to date): $1,304,438

Average price in greater Victoria (2024 year to date): $979,103

Average price in the Okanagan (2024 year to date): $748,015

Average two-bedroom purpose-built rental in Vancouver: $2,181

Average two-bedroom purpose-built rental in Victoria: $1,839

Average two-bedroom purpose-built rental in Canada: $1,359

Rental vacancy rate in Vancouver: 0.9 per cent

How much more do new renters in Vancouver pay compared with renters who have occupied their home for at least a year: 27 per cent

This report by The Canadian Press was first published Oct. 17, 2024.

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