Kelowna Westside Real Estate For Sale - Westbank Developments and Okanagan Communities like Diamond View Estates, Mission Hill and Panorama Peaks

Western Living on the Westside West Shore: Okanagan’s Shore For Serenity

Put is all together in a palce whre all your year-round destination and recreation is just outside your door, and it’s hard not to look forward to a home where people have long chimed “the Westside is the best side.” A great editorial article by D. Murry for the BC Resorts Property magazine. On the quieter shore of Okanagan Lake, residents wake up to the sunny side of the Okanagan Valley amid colourful fruit orchards and award winning wineries – away from the crowds. The recreational paradise calle dteh Okanagan real estate community has always been a great place to enjoy all year round recreation that includes skiing and golfing in addition to the multitude of water sports for all ages and lifestyles. Summer’s abundant sunshine is enthusiastically welcomed at the many pristing Okanagan beaches and marinas offering access to extended boating and more along the 130 km long Okanagan Lake waterfront real estate properties. While these fine amenities in the major centres of Penticton, Kelowna and Vernon real estate have become renowned over the decades, although some people continue to prefer the serene beauty that remains less crowded on the opposite shore. From colourful Peachland with 5,000 residents to the quaint village like Fintry, the west shore sems a world away from the 110,000 plus within the nearby city of Kelowna real estate. “it is just a totally different time zone almost,”s ays Robert M., sales director for Westbank real estate Copper Sky and Platinum Project Marketing. Beachwear seems natural for the couple thousand residents sporadically dotted along the northwest corner of Okanagan Lake in WEstbank real estate in small communities like Traders Cove, Wilson Landing, and Fintry. In between, recreational development Okanagan real estate properties like LaCasa and Lake Okanagan resort property may soon be joined by new holiday homes at TimberRidge and Orchard Beach resorts. It’s also no surprise to see swimwear clad shoppers in Peachland’s downtown stores and restaurants – all located jus across the street from some of the town’s five km of pristine pebble beaches and marinas. “The views here is incredibly beautiful and constantly inspiring,” said Paul Hanson, sales rep for Island View Estates on Peachland’s Trepanier Beach. “It is a beautiful little enclave between the busy area of Kelowna and Penticton.”

More about the Westbank Real Estate Westside Neighbourhood

Even in Westbank real estate, whose 30,000 residents last year voted to become BC’s newest city, remains casual. A small town spirit is still alive, even while the stores grow exponentially in size and number to accommodate a growing population. “People take their Okanagan lake lifestyle community with all the amenities. We’ve got everything you need to do when you want to relax. You can rent a boat or enjoy lunch at one of the wineries.” For those who like their R&R with G&G (golf and grapes), the Westside real estate hills are home to two 19 hole courses and five wineries. These include the impressive Mission Hill Estate where more VQA wine is produced than any other single facility in BC. Wine visitors are captivated by even more than the hundreds of kegs of wine aging in their underground cave. Over $40 million of intriguing architecture within this hilltop sestates includes artistic arched walkways bordering a natural performance amphitheatre – all under the signature bell tower rising 40 metres high. Hainle Winery and Greata Ranch provide the next flavour selections around Peachland real estate – both with presale resort homes now growing up on their borders. More adventures awaits just 10 minutes above Westbank real estate, as the Okanagan’s most popular array of cross country ski trails wind just below Crystal Mountain family ski hill. Future plans call for an expansion of terrain and lift service, plus additional summer fun with a golf course.

Westbank Property is Growing Up

Now one year old, the new municipality of Westside is walking proudly forward, and celebrating its growth in so many new forms – a new bridge, many new stores, new leaders emerging and new neighbourhoods opening up. In May, the new five lane bridge opened by its namesake – Wliliam Bennett, former BC premier. Local residnts quickly rejoiced that traffic would flow much quicker to and from Kelowna than the original 50 year old three land floating bridge. This year, many people are finding fewer reasons to cross that new bridge, due to WEstbank real estate’s burgeoning shopping district that is quickly expanding local shopping choices – from family shops to a half dozen massive box stores – including a Walmart (said to be the largest in Canada) that is scheduled to pen in mid-September. The newest shopping collection now includes Canadian Tire, Home Depot, Staples, the Canadian Superstore and London Druges. No longer just a sleepy town for Kelowna, the Westside outpaced its giant neighbour with an 11.5 percent boom from 2001 to 2006. “The growth is just exploding on the Westside – not just housing, but business also,” said Leah T, manager of Westbank Chamber of Commerce and a resident for 25 years. Between lofty new neighbourhoods like Diamond View Estates and Panorama Peaks and desirable lakeshore projects, the Westside real estate is opening up markets to a wide range of new home buyers. The hills are alive with the sound of construction, as somany want to live where they can see the sparkling lake and neighbouring mountains that make a scnitilatting panorama. From affordable leashold homes on native land to new Westbank condominiums developments around the Westside town centre, the region is also offering starter homes with prices not seen across the lake in Kelowna real estate market. “It’s a beautiful location that still has the smaller feel with the right amenities,” said Chris I., manager of Sage Creek across the street from shopping and Two Eagles golf course.

Prestigious Real Estate Properties makes Real Estate Investment a Snap

Published in the Real Estate Business Edge newspaper Advertising Feature in February 2007. Generate cash flow while you watch property value increase.

Every would-be real estate investor is seeking the fiscal equivalent of the Holy Grail: a fully secured, no-risk deal with guaranteed and robust rates of return.

Unfortunately, the Holy Grail remains elusive. And experience home buyers and sellers realize it’s a rare investment that doesn’t entail at least a minor element of risk. But that’s the key to wise investment in real estate: you’ve got to tap into the highest possible returns while keeping risk as far out of the picture as possible.

At Prestigious Properties, President Thomas Beyer and the Chief Operating Officer Doug Thiessen have shown that the syndicated purchase of carefully selected rental properties can bring real estate investors reliable quarterly cash flow and significant equity appreciation, with moderate risk.

Beyer and Thiessen have developed a highly successful formula that has made money for hundreds of their associates, most of them “ordinary” real estate investors who have never regretted their decision to enter into a syndicated purchase agreement.

“Investors generally want three things: zero risk, regular income on a monthly basis and a 100-per-cent guaranteed chance to watch their equity grow at a substantial rate,” says Beyer, an MBA from the University of Alberta as well as a Gold member of the Alberta Real Estate Investment Network.

“While nobody in the real estate investment community is able to offer absolutely iron-clad guarantees, Prestigious Proeprties CAN enable you to share in the ownership of a revenue-producing apartment building that’s as close to bulletproof as it’s possible to be,” he adds.

Much of the beauty of the plan lies in its simplicity. Beyer urges you to become a landlord while leaving all the hassles to him and his team. His program works this way: real estate investors with a minimum of $25,000 come aboard as partners in a syndicate to purchase an under-managed, under-valued property in a well-regarded area of a promising city such as Edmonton, Powell River, B.C. or certain medium-sized towns in Saskatchewan, B.C. or Alberta.

Beyer likes to refer to his ideal target properties as Class C buildings situated in Class B urban neighbourhoods. These are choice if underrated districts, where property values seem destined to appreciate.

When a purchase syndicate is formed, such properties will be acquired, skilfully managed, appropriately renovated, and eventually re-financed after a lapse of time ranging from nine to 24 months. By that time, rents will have increased, with a commensurate rise in the value of the building in question.

Under the terms of a pre-arranged exit strategy, the syndicate will eventually sell the real estate asset for as much as 30 to 90 per cent more than the original purchase price.

“There will always be demand for residential tenants in dynamic provincial economies such as B.C.,, Alberta and Saskatchewan. Time and again, we have proven the rental market is a good growth area, whether the economy is strong or soft,” says Bayer.

Prestigious Properties expends enormous effort on due diligence, carefully and methodically identifying potential real estate asset able to combine positive cash flow with equity growth. Apartment or townhouse complexes full of renters tend to match this profile beautifully. Because, as Beyer points out, the more rental units in the building, the greater the cash flow – even after taking care of upfront expenses such as taxes, mortgage payments and rental management.

As an example, the president cites the company’s most recent investment opportuniy. It’s a 104-unit townhouse style complex in Wetaskiwin, not far southeast of Alberta’s capital city. Prestigious Properties is currently projecting combined cash flow (generally distributed on a quarterly basis) and equity growth of as much as 15 to 20 per cent a year on this complex. Beyer believes the value of this residential property could easily double within four to five years.

“And don’t forget, there are numerous tax advantages to our program, including flow-through of expenses via our LP. These real estate assets enjoy tax deferred status until such time as they are sold,” Beyer hastens to add.

In short, it’s the perfect way for a man or woman in the street to take advantage of Western Canada’s booming real estate market. Beyer believes mature real estate investors may be kidding themselves if they believe they can retire off a stock-market based investment, such as a mutual fund. They’d be wiser to put their money into a safe, inflation proof REAL estate investment that makes money as you sit back an watch its value appreciate.

Beyer has learned the real estate business from the ground up. An award winning Christian businessman with a glowing track record, he urges you to get smart and go with a winner.

That’s Prestigious Properties. It may not be the Holy Grail, but it’s as close as most investors in real estate are likely to come.

Check out the Prestigious Properties website: www.prestprop.com. Then contact the company at 403.678.3330 or email investor@prestprop.com.

For other joint venture Edmonton real estate property deals and investment opportunities, click here.

Discussion Corner – Finding the Right Key to Real Estate

From the March 2007 edition of the Australian Property Investor Magazine. Helpful hints on real estate investments to get you started on the right foot to success.

The Australian dream of working towards home ownership until the mortgage is paid off is all very noble, but often there are no extra lump sum savings factored in for other real estate property projects. That’s the traditional way many join the Equity Rich, Cash Poor Club.

There is, however, a pot of gold at the end of the rainbow. It’s called your home. If you’re an income earner, your home is something you can borrow against by perhaps taking out a standard mortgage or line of credit to free up cash you wish to use for other reasons. Perhaps, your financial situation has changed drastically, or your daily expenditure has soared, or you may want to invest in additional real estate properties.

There’s no doubt investments in real estate is the buzzword of the decade. Proeprty investing is certainly much more prevalent than it has ever been before. With home equity locked up in your real estate property house, real estate opportunities can pass you by unless you’re prepared. Other reasons for using the equity in your home are to improve cash flow and to cope with increased daily expenditure that may be partially due to a higher inflation rate.

For income earners, the answer to unlocking equity home built up in a property real estate is as simple as re-mortgaging. All lenders offer this facility but not all loans are suitable, so do your homework before deciding.

A revolving line of credit (RLOC) facility is something to consider. It’s a special kind of home loan that may be suitable for, say, a short term cash flow problem. In some ways, an RLOC operates more like a large overdraft. You’re given a credit limit which you can draw down at any time you like. Unlike a standard mortgage on a real estate property, however, a revolving line of credit doesn’t have a minimum repayment (with a credit card, for instance, it’s typically 2 to 3 per cent of the balance each month).

The only requirement with a revolving line of credit is to keep the level of debt below the loan’s maximum loan to value ratio (LVR) which is typically 80 to 95 per cent of the value of the real estate home property. This gives the borrower far more flexibility than with a traditional home loan that has set repayments.

With this flexibility comes the ability to pay off the loan faster than a traditional home loan. Alternatively, it gives you access to additional home real estate equity. Most lenders don’t insist that you pay as much as you can, so you can have an RLOC with no debt and available at any time you need it. There may be an ongoing fee to maintain this facility.

Access to home real estate equity is a good thing, except when the loan looks like it may never be repaid. And with a line of credit, this is a possibility!

Reverse Mortgages in Real Estate

Retirees can also be equity rich and cash poor, and a reverse mortgage is a way to access the home equity tied up in a family house. It means retirees don’t have to sell their property real estate and can unlock the equity in it by receiving a lump sum or regular instalment payments to support their lifestyle. It sounds good, so what are the catches?

Yes, a reverse mortgage does provide convenience in obtaining extra cash but it comes with a few potential hassles that everyone needs to consider thoroughly.

The first is long-term financial impact, especially on their inheritance. Perhaps the prospective home buyer borrower should discuss these plans with the family beforehand. This is a complicated issue and is one of the main reasons why financial advice should be sought from a real estate expert, before rushing in and signing on the dotted line.

Most reverse mortgage products require that you maintain the home property to a specified standard and may not allow you to make certain modifications to your real estate property. If you’re considering a reverse mortgage, make sure you plan ahead and know the real estate product with its risks as well as benefits because it’s not for everyone.

In the end, some people, whether income earners or retirees, just might opt ot go the old-fashioned and sometimes easier way – sell the real estate property and go back to renting!

For more information, please visit Australian Property Investor magazine online.