The latest investigation by Global News has a crucial warning for hopeful home buyers in the Okanagan: multiple listings in the area have been falsely listed as being located in the highly desirable Lower Mission market.
The Okanagan Mainline Real Estate Board has promised to root out the practice.
“We have taken steps to rectify these listings,” Okanagan Mainline Real Estate Board CEO Lynette Keyowski said. “There are listings that have been placed in the wrong sub-area, so thank you for bringing that to our attention.
A mis-listed home actually situated in the Springfield/Spall area has already been sold over a year ago, while another listing currently under construction is actually located at KLO Road near Benvoulin.
“We have notified all of the people — the realtors who have listed in the inappropriate places,” Keyowski added. “As a matter of fact, again based on [Global’s] phone calls, many of them have called us and asked ‘What can we do to fix this? We didn’t even realize that it was wrong, can you please give us a hand?’ So we’ve worked with them and rectified the issue.”
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Earlier this year, Okanagan developers warned that newly implemented measures could negatively affect the construction and sales of recreational and second homes for people outside of the province.
Industry players in the region have repeatedly expressed anxiety that the B.C. government’s decision to hike the foreign home buyer’s tax and introduce a speculation tax will steer the market wrong.
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Ephraim is currently a journalist at Mortgage Broker News, Real Estate Professional and Canadian Real Estate Wealth.
Ephraim is a highly accomplished news reporter whose work has been published across North America and the Asia Pacific region. Before joining Key Media, Ephraim spent eight years working as a journalist with Reuters TV. His areas of expertise include real estate, mortgage, and finance.
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