Pat Rilkoff – February 2021 Real Estate Update

February 2, 2021

Pat’s February 2021 Real Estate update is now available which includes i) Don’t wait for Spring … Do it Now, ii) Avoid moisture problems in your home and iii) Create more space in your kitchen.

In the Okanagan Valley, many homeowners are considering selling homes or buying homes over the next few months?  You might even be considering making a move yourself.

Why do I bring this up?  Well, it’s conceivable that while chatting with your neighbour or a friend, you might be asked “Do you know a good real estate agent?”

If that happens, I hope you’ll feel confident in recommending Rilkoff & Associates, because I build my business through referrals.  I provide excellent client service and do everything possible to be referral worthy.  So when asked to recommend an agent, please give them my name.  I promise that your referrals will receive my VIP treatment!

Please enjoy my latest e-newsletter with helpful updates, tips and articles.

Don’t wait for Spring – Do it Now!
If you’ve been thinking about selling your home in the Okanagan and are waiting until the market conditions are “just right”, then just right is right now!

High demand drove the real estate market to finish the last month of 2020 on a high note with unexpected and exceptional sales volumes across the region.

Residential sales for December 2020 in the region of Revelstoke to Peachland increased 65%, with 661 units sold. The South Okanagan region, stretching from Summerland to Eastgate Manning Park also saw an unexpected jump of 201 units sold during December 2020.

So, what makes the market conditions just right, right now?

  • High buyer demand creates low inventory as buyers snap up homes almost as soon as they’re listed.
  • Shortage of supply puts upward pressure on pricing as inventory cannot meet the demand.
  • The benchmark price for single-family homes in the Central Okanagan, North Okanagan and Shuswap/Revelstoke regions recorded double-digit percentage increases in year-over-year comparisons.
  • In the South Okanagan, the average sales price for single-family homes surged 37% and 15% year-over-year respectively.

Timing the market can be tricky, and when you decide to make a move, you want to be sure you can sell your home quickly and for the best price.

Let’s sit down and talk about it.  I have a lot of experience selling homes in the Okanagan and can provide additional details on market conditions, allowing you to make the right decision about when to sell your home.

Call Pat at 778 583 5678 anytime or submit a request online here.

Avoiding Moisture Problems in the Home

There are many hidden sources of moisture in your home that can lead to serious problems, such as mould.
To keep moisture levels in check, consider these tips:
  • Bathrooms are an obvious source of moisture build-up. Contractor and TV personality Mike Holmes recommends keeping the fan going for at least half an hour after a shower.
  • Check regularly for water infiltration around window and door sills, as well as other intakes into the home, such as dryer vents and cable wiring.
  • Determine the humidity level in your home. According to the Environmental Protection Agency, it should be 30-60%. (Keep in mind that humidity may vary greatly from room to room.)
  • Regularly inspect caulking around sinks, tubs and showers. Even a tiny break can cause water to leak gradually into the wall or floor, causing damage you may not notice for months.
  • Clean up wet spills as soon as possible. Be particularly careful with hardwood floors, as water can seep through and become trapped.
  • Repair leaking faucets and pipes immediately. Even a small drip can add significant moisture inside a vanity or kitchen cupboard.

Being mindful of moisture today can help you avoid potentially high repair bills later on.

Create More Space in your Kitchen

Need more storage space in your kitchen for your growing collection of cookware, tableware, and supplies? You don’t have to do a renovation or even add a new table or cupboard. Here are a few simple ideas:
Pantry dividers. These enable you to store baking sheets, cutting boards and platters in an upright position, effectively doubling the storage capacity of that area.

Removable wine rack. This is simply an X made with wood and then slid into a cabinet space. You can make one yourself or find one that’s the right size at a kitchenware or home improvement store near you.

Hanging baskets. These are ideal for storing cooking utensils, fruit, vegetables, pasta and other items.

Hanging rod. This is similar to a towel rack, except you use S-shaped hooks – which you can find at any home improvement store – to hang pots, pans and other items. Restaurant kitchens often use these.

High shelving. A shelf installed high up the wall – near the ceiling – that wraps around the kitchen and dining area, can easily double your storage space.

There are many other products on the market that can help you make the most of your kitchen space. Look for options at your local home improvement or kitchenware stores.