Think of a subject in an offer as insurance.

Once you find a Kamloops home and make an offer, you hope everything will go smoothly; but in case it doesn’t, you have an opportunity to add subject clauses that allows you to back out of the contract without losing money if something untoward happens.

Most agreements already have a few key subject clauses in place to protect against the bigger things—such as a lower-than-anticipated home appraisal—but there are subjects that go beyond the norm. If you’re about to make an offer, consider all of your options.

Standard subjects

Some subject clauses are commonly used when making an offer. Some examples:

• Home inspection: This gives the buyer the right to order a professional home inspection and

KAMLOOPS - Property owners in the Thompson region can expect to get their property assessment notices in the mail within the next few days and you might find your home has appreciated in value — some significantly.

B.C. Assessment says in a news release that homeowners can expect a moderate increase, which will reflect the market value as of July 2017.

Compared to 2017, numbers for residential single detached homes in urban areas of the Thompson are up between zero and 15 per cent, while rural properties range from a decrease of five per cent to an increase of 25 per cent.

Residential strata units in urban areas vary between a five per cent decrease and 20 per cent increase compared to 2017 numbers, while properties in urban areas increased by

Online Learning Opportunities for Your Golden Years

Written by Karen Weeks for Kamloops Property For Sale.

Your senior years are a time not only for savoring your accomplishments but also for embracing new challenges. Thanks to technology, options for personal growth and learning are just a mouse click away.

 Opportunities abound.

The internet isn’t just for younger people, and thanks to the ever-expanding number of resources available your options for what you can discover are nearly unlimited. Your need to grow, connect and learn continues throughout life, and now you are free from the requirement of learning to satisfy a job or to earn grades. If you think you aren’t qualified or are intimidated by using the internet for learning, don’t be.

Guidelines requiring financial test for uninsured buyers go into effect Jan 1, 2018

New guidelines that will soon place restrictions on uninsured borrowers looking to secure a mortgage have — as one Ottawa realtor puts it — kicked the pursuit of a home into "overdrive."

Earlier this month, the Office of the Superintendent of Financial Institutions (OSFI) released guidelines for the mortgage industry that will take effect on Jan. 1, 2018.One of the major new rules is a requirement to subject uninsured borrowers to a "stress test." At the moment, anyone who puts down more than 20 per cent of the value of a home doesn't have to pay for mortgage insurance, and is considered an uninsured borrower.Only insured borrowers — those who put down less than

6 Reasons Why Your Home Expired Without An Offer

When a home listed for sale expires off of the market without so much as an offer there are a number of common reasons as to why that happened.  Some of the causes of having an unsold home are the responsibility of the real estate agent if there is one involved.  Other aspects of selling a home are done in coordination with the real estate agent but is the primary responsibility of the home seller (setting the listing price for example).  If a home seller still has in mind the goal of selling their home this list of six common reasons why a home does not sell will help home sellers get back on track and get their home sold.

1.  Pricing

Overpricing is one of the main reasons a house will not sell. 

Previously only those with less than 20% down were tested, but now all borrowers will be.

Canada's top banking regulator has published the final version of its new mortgage rules, which include a requirement to "stress test" borrowers with uninsured loans to ensure they could withstand higher interest rates.

The Office of the Superintendent of Financial Institutions (OSFI) released new guidelines for the mortgage industry on Tuesday. The regulator floated a similar version of these rules earlier this summer in draft form, but Tuesday's release makes them official as of Jan. 1. Among the major new rules is a requirement to stress test uninsured borrowers. Previously, only insured borrowers had to undergo such a test.

By law, borrowers with a down

Buying to rent: tips from a seasoned real estate investor

Buying to rent is a way to ride out the ups and downs of the real estate market and the economy, said Ann Kaplan, president and CEO of national consumer finance company iFinance Canada. (Kaplan also appeared on The Real Housewives of Toronto, a show run by Slice, one of the brands owned by Corus Entertainment, which also owns Global Television and Global News.) Kaplan, who gradually built a portfolio of  seven residential and commercial properties in Vancouver, Victoria and Toronto, has some advice for those buying investment properties as a means to enter the market:

Decide what price you want to pay and be prepared to walk away if you don’t get it. When you’re buying investment property,

Canadians facing ever increasing house prices — and debt — are turning to short-term rentals to make ends meet, according to a new survey.

AltusGroup, which provides real estate research, said its FIRM survey from the summer of 2016 found four per cent of all households had used a short-term rental accommodation service in the past year. The number rises to seven per cent for those with a mortgage.

“There has been a lot of speculation lately about potential investor involvement in short-term accommodation rental services like Airbnb,” said Altus in its release. “But focusing on households rather investors, how extensive is the practice of short-term rentals of space in principal residences?”

Altus noted impact is even greater among millennials,

With Selina Robinson, MLA for Coquitlam-Maillairdville, sworn in this week as the new Minister of Municipal Affairs and Housing, what can we expect her priorities to be over the coming months?

As former NDP housing critic David Eby has now become BC’s new Attorney-General, Robinson will be facing a lot of pressure to make good on promises that both she and Eby made on the campaign trail. She told voters in the run-up to the May election that the NDP’s key housing priorities were to introduce a speculation tax in Metro Vancouver and Victoria, in an attempt to calm those hot real estate markets.

The NDP’s housing platform also pledged to introduce a 2% annual property tax, based on the assessed property value, for owners of Vancouver real estate who

Owning real estate is a privilege, and in doing so, you are committing not only to serving your own personal interest, but potentially that of your family for years to come. A success story is increasingly possible, and for many of us real estate is our single most important asset when it comes to retaining value. When managed well, the rights in land associated with the building on it, not only maintain their value while factoring in inflation, but increase in value. The key to retaining your home’s value while ensuring comfort is good maintenance and a few simple upgrades.

Outside

Gutters

If you property has, or is surrounded by trees, your gutters may need to be cleaned multiple times each year. As a good rule of thumb, it’s best to access