Overnight Index Swaps

There are no shortage of predictions as to how when rate cuts start and how deep they go but the most objective predictor is typically “The Market”. Overnight Index Swaps (OIS) essentially trade debts and equity at an agreed upon rate of interest. But in doing so, they’re predicting or anticipating the next moves of the Bank of Canada (BoC) to set those rates. And the path the OIS market is predicting for the BoC right now is 0.25% rate cuts in:

  • April
  • June
  • September
  • October
  • December

That’s a total of 1.25% off the BoC overnight rate by the end of 2024. Which is excellent news for the housing market. And though we never want to get too far ahead of ourselves, some outfits like Capital Economics are calling for as much as a 2% cut by the BoC.

We talk a lot about pent up demand for housing and how it’s expected to come off the sidelines as we gain confidence in/start to see interest rate cuts. Ipsos conducted a poll in December that shows just how much prospective home buyers and sellers decisions are impacted by higher interest rates. 73% of those surveyed said “higher interest rates have me on the sidelines for now and I won’t buy or sell as a result.” Everyone in Real Estate and Mortgages have talked about pent-up demand over the last 18 months. This survey puts an actual number that shows the significance of just how much of an impact these higher rates have had. But what happens as we start to see rate cuts in the coming months? Certainly a share of that 73% will find more confidence to enter the market. The window to buy without significant competition may be closing and closing quickly.

Which leads us into spring and the market we might expect. 2023 saw a spring market that was stronger than the 10 year average. And that was with fixed interest rates that were still approaching 5%. Most borrowers opted for shorter term fixed rates in the ~4.85% range in the spring of 2023. And where do we sit today? On average, fixed rates of all terms are about 0.5% higher today than the same time last year. But as we get closer to the inevitable first cuts, it’s likely that fixed interest rates will see some more downward pressure. And it is quite possible that we will see the same levels we saw one year ago.

So where does all this leave us? “The Market” (OIS) is almost never wrong about the direction of rates. And while they’re not as good with timing or magnitude of moves, it’s becoming increasingly clear that the next move(s) are going to be downward. And as confidence grows into certainty, it’s fair to expect a good sized portion of that 73% to wade into the market and test the waters. The prescription here is to get prepared. Though there is much less urgency with rate holds in a declining rate market, there’s much higher urgency in having a quality pre-approval and knowing numbers and limits. Because when things turn, they turn quickly.

And hey – if you want to grab a coffee and talk  Reach out and let’s connect!

All the best in 2024!

Increased Activity at Big White and in the Okanagan

We are seeing an increased amount of activity at Big White Ski Resort and within the Okanagan region within that last few weeks. The trend of the slower summer season was present, however, with summer coming to an end in the next few weeks, many buyers are keen to find a home.

Big White Ski Resort

Over 11 million dollars in sales have happened at Big White since July, a nice increase from the same time period last year where sales topped at 7 million. The average days to sell has however increased from 54 to 65 days because we are still seeing slower sales than average.

Closing day for the Summer season is September 4th. Meaning if you are wanting to get a few more mountain bike rides in, or finally get to the hike you only have a few weeks left. Winter ski season will be here before we know it and if this season is anything like last year we should except to see a large number of visitors, sales, and fun! Get to know everything Big White Summer here!

Some more exciting news is that Big White just introduced a state of the art car charging stations in Happy Valley! This is great to see for the growth of the resort. Read more about it here.


Since the beginning of August, 200 sales have happened within the Central Okanagan region including single family homes, condos, and townhomes. The average sale price within the same time period is 826,475. The average sale price for the month of August in 2022 was $854,854 so we seem to be fairly consistent with last year.

Although the smoke seems to have settled in hopefully it clears, maybe see a little rain, and we can soak in the remainder of August sun. The Okanagan has been blessed with a great tourist season thus far and many visitors are becoming more keen on purchasing real estate here in the Okanagan.

To be in the know, and receive up to date listings and information about the market, contact me here to get set-up!

Recapping the First Half of 2021

Recapping the first half of 2021 seems like great a way to look back and see how this year has molded not only us as a community, but the community itself. It has been another eventful year where we have experienced, learned, and gained growth. 2021 has provided insight into what the next few years may bring and many exciting things have happened that lead us to that.

Let’s recap the first half of 2021:

Real Estate

As we know, the Real Estate market in BC blew up the first half of 2021. With homes going well above listing prices, flying off the market on the first day, and the lowest inventory we’ve ever seen, the first six months of this year have been wild. 141 sales were completed at Big White Ski Resort from January to currently. If we compare that to the 66 completed deals within the same time frame in 2020, that is a 113% increase in sales. And not surprisingly, the total volume has taken a huge leap from 31 million dollars worth of sales to a whopping 74 million.

Low inventory was a huge factor in the stresses of buyers looking for a home to purchase. We saw the lowest inventory available ever and that created a frenzy for buyers looking. And with that, came an incredible sellers market. Many sellers took advantage of the rising home prices and quick possessions. The average time a Big White property spent on the market this year is 60 days. A 45% decrease from the same time last year.

Big White Ski Resort

The resort itself saw many changes over the courses of these first 6 months of 2021. many COVID-19 protocols were implemented creating a safe place for locals, tourists and workers alike. There were challenges along the way but I think the team at Big White did a phenomenal job pivoting and adjusting as necessary. The Summer season has just begun and already the Village is seeing lots of tourists ready to relax, enjoy, and explore the wonderful outdoors.

Big White Ski Resort also made a huge announcement in January sharing that the resort has massive expansion plans over the next few decades. With more skiing terrain, a golf course, new housing developments, and more this is very exciting for the economy and resort.

No one knew what 2021 was going to bring and after a stressful and unknown 2020 we have adapted as a whole and are driving the changes into this year. The first half has been more than exciting and the rest of 2021 will be a great time to enjoy the growth the first half has brought us.

COVID-19 and the Big White Real Estate Market

COVID-19 abruptly ended the 2019/2020 season at Big White Ski Resort. With the resort closed until further notice, we are all staying at home, homeschooling the kids, working from our new makeshift home office and finding new routines. It’s definitely a drastic change from gearing up, hitting the slopes and adventuring around the resort.

Big White Ski Resort remains closed for the time being, but because real estate is deemed an essential service there are still 124 active listings on the mountain and new properties still coming to market. With such amazing online marketing tools, an interested Buyer can easily view a property by way of a virtual tour, video, and photos. And, just as importantly, a Seller can feel confident that their property is still being marketed to its fullest during these times.

My outlook for the resorts future is positive, I believe that the mountain’s economy will remain strong. With our response to COVID-19 and the US dollar being at almost 1.50 I am cautiously optimistic that Canada, BC, and especially Big White, will be sought after real estate in the following months.

Still want to explore the mountain?

There are some approved off-season trail access that you may use. *PLEASE NOTE*  The mountain is closed and no access of any kind is permitted to the trails and/or areas within the controlled recreational boundary on Big White Mountain. With the exception of low impact activities such as dog walking and snowshoeing in the highlighted area on the map. Check out there MAP here.

Big White Real Estate Update – August

The summer season at Big White Ski Resort has come to an end and what an incredible summer for real estate! Summer 2019 brought many new buyers to the mountain from all over the world and the summer events allowed investors to continue renting their investment property year round.

10-255 Feathertop Way

As we know from the past few months, the average sale price at Big White Ski Resort has seen quite a dramatic increase. June through August of this year showed an average sale price of $463,176, which is an increase of 25% over the same time last year even though there were slightly less overall sales.

During the month of August we saw 33 new listings hit the market. From lots starting under 100k to luxury million dollar chalets the range of property available is vast. Properties are selling slightly quicker than last summer with an average days to sell statistic of 101 during the summer months (June-August), an approximate decrease of 12% from 2018.

Now who is ready for the winter season to start?! Only 84 more days!

Don’t miss the opportunity to purchase your dream mountain home or to sell that investment property!! Get in touch with me today for a complimentary market analysis or to receive new active listings within your criteria!

History of Big White Part II

Continuing on from History of Big White Part I Big White Ski Resort showed continuous, steady growth from the 90’s and into the 2000’s. This second part  to the history of Big White will showcase all of the incredible amenities and features that have been constructed until mid 2000’s.

The opening of a Walk-In Medical Center at the Whitefoot Lodge took place in 1994, along with a 100 seat conference center,  Dom’s restaurant, and The Eagles and Chateau on the Ridge condominiums being constructed. The Ski Rental and Repair shop was also renovated during this time. In 1995, Big White Ski Resort invested more than $5 million in improvements to continue its growth. To accommodate its growth, a 350 car parking lot was placed between the Bullet and Black Forest and the White Crystal Inn opened offering deluxe accommodation and dining. On hill accommodations now exceeds 5,500 persons making Big White the largest on-mountain village in Western Canada!

The next few years brought the Ice Skating Rink, Snowboard Park, The Village Center Mall, The Big White Kid’s Center, Gem Lake Express Quad Chair and 1,200 acres of new terrain. Bringing the investment totals to over $75 million. Accommodations grew tremendously in 1997 and 1998 with the developments and expansions of Black Bear Lodge, The Coast Resort, Legacy Condominiums, Snowpines Estates, and The Ridge Day Lodge. Not long after in 1999, huge development milestones were hit with the completion of the Legend, Timber Ridge, Whiskey Jack, Treetops, Chateu at Big White projects. The Real Estate total for 2000 is $39.1 million!

In the early 2000’s, over $125 million was invested into the Gondola Woods Happy Valley Project. 100 acres of newly gladed terrain, summer grooming projects, and car park expansions were completed in 2001. While a year later, in 2002, a new super Olympic sized pipe, the 2nd one in Western Canada was constructed, along with the new skier bridge linking the village to Happy Valley. 2002 also saw a massive jump to nearly $50 million in real estate.

Stayed tuned for Part III

Big White Real Estate Market Update – March

Big White Ski Resort’s real estate market in March saw a 55%  increase in sales from February. March’s sales were between the 94k and the 805k price point.

Listings haven’t slowed down either, with March seeing 18 new listings, bringing the current total to 112 active listings. Property price points are ranging from $104,5000 to $6.3million with a large majority between 500-700k.

Spring break at Big White was extremely busy for real estate this year. The weather was absolutely fantastic and the showings were non-stop! Investors, families, and individuals from all over the globe traveled to Big White to evaluate the real estate market and many jumped at the opportunity to make a purchase.

From luxury chalets to studio apartments, it seems that the market isn’t leaning one way or another, but offering properties of all types to cater to anyone looking to invest at Big White Ski Resort.


Why January is a great time to list your home!

You’ve been pondering the idea of listing your home “next year”, but aren’t entirely sure when is the best time to list. You’re friends tell you Spring because that’s when the market picks up. BUT, I’m going to give you 3 reasons to list your home in JANUARY!!

  1. There are fewer houses on the market – which means less competition and greater chance at receiving an offer
  2. People that are looking at houses in January are serious buyers!
  3. Corporate relocation – One of the biggest months for employee relocation is January, you might just sell to a newcomer to your town!

Okay, now that you’ve decided to list in January, here are some helpful tips for winter showings:

  1. Bake cookies for the potential buyers – the smell, the thought, and the taste will leave an imprint in their memory with the house.
  2. Have summer photos of the house, yard, and neighborhood.
  3. Keep driveway and sidewalk clear of snow and ice at all times!
  4. Turn the heat up a notch or two prior to showings, and if you have a fireplace, turn it on for extra ambiance.

Listing your property in January may just ensure you get the right price and beat the spring saturation!

Call Joan Wolf today if you want results, passion, and perseverance!

C- 778-231-0308

E- [email protected]

Summer at Big White

I’m the first one to tell you that Big White is the perfect place for a winter getaway, but did you know it’s also THE place to be in the summer when it comes to real estate and activities?

Now, don’t get me wrong. Just because real estate might be a bit quieter in the summer and some properties are vacant doesn’t mean the hill slows down. Whether looking to invest into luxury real estate or spending fun-filled days out and about, summer is a great time to do the drive up to the Okanagan Highland summit.

For those looking to become a part of a thriving mountain community, summer is the perfect time to buy the investment property you’ve been looking for. Without the winter craze all around, it’s easier to get in for showings and last-minute pop-ins and take the time to decide which property is the right fit for you. Be it an income generator, a spot for a family getaway or simply a place to call home, Big White has something for everyone.

No snow means it’s easier to actually see the properties. Seems obvious, right?

Snow, even though adding the feeling of winter wonderland, can mask many problems with the structure. In the summer, without the average of three meters of snow acting as a cover, it’s easier to look at the property and make a well-informed decision before you buy.

Slower pace also allows to take a minute or two to work on financing. Financing for investment properties have a few different qualifications. 

There’s the myth that Big White is just about the winter activities but seeing Big White in the summer gives a great feel for what life on the mountain is year-round.

For those seeking adrenaline rush, Big White has brand-new lifted-assisted mountain bike trails. These world-class trails will take you on a tour exploring the beauty of Big White, all while giving you the excitement of downhill mountain biking.

The annual thrill-filled Mudd, Sweat, and Tears event challenged participants myself included to complete an obstacle course by navigating through organic and constructed obstacles. This event brings out the competitive spirit in all participants, but in a fun kind of way. Careful though, obstacle courses can be very addictive! 

If you prefer to soak in the summer sun in a more slow-paced environment, there’s plenty of other things to do. Just a 40-minute hike form the village, located at the bottom of Cliff Chair, is the beautiful Rhonda Lake. If you dare, bring your swimsuit and dip into the chilly alpine water.

You can also visit the many festivals that bring together the best the Okanagan Valley has to offer, from great music and drinks to supersize pies. Such as the Craft & Country Beer and Mountain Festival in June, Ciderfest in July, and then Huckleberry Festival in August.

My favourite is the Village movie series. It’s a free family event where you can snuggle up and watch an outdoor movie. Bring snacks, blankets and chairs.

Who knew there was so much to do?  Are you excited to live where you play?

Check out my listings and let me help you build your memories at Big White!