All Blog Entries by Steve Harmer

So you are looking to move to Kamloops.

So what are the advantages to living in Kamloops opposed to lets say Kelowna or Merrit? Kamloops is strategically located at the intersection of Western Canada’s four major highways: the Coquihalla (Highway 5), TransCanada (Highway 1), Yellowhead (Highway 5), and Highway 97; is serviced by both national railways, is the meeting location of the South and North Thompson Rivers and home to the Kamloops Airport. The city has a growing population of almost 86,000 within the city, and 128,473 including the city and regional district. Kamloops is home to Canada’s most comprehensive university, Thompson Rivers University, is Canada’s Tournament Capital and has a lifestyle like no other with 82 parks, over 200 lakes

On May 9, British Columbians cast their votes for the next provincial government.

It took a couple of weeks to get the final results, and now the elected parties—the Liberals, the NDP and the Greens—must work together to govern this diverse province.

A topic that all three elected parties agree on is the importance of housing affordability. Housing was a key election issue throughout the campaign period, and all three parties made numerous policy promises about it in their election platforms.

The parties took differing positions on some aspects of housing affordability. The Liberals highlighted financial incentives for home buyers and homeowners that they introduced in the last legislative session, proposing a gradual approach to expand these

Vancouver, BC – June 13, 2017. The British Columbia Real Estate Association (BCREA) reports that a total of 12,402 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in May, down 7.9 per cent from the same period last year. Total sales dollar volume was $9.33 billion, down 4.0 per cent from May 2017. The average MLS® residential price in the province was $752,536, a 4.2 per cent increase from the same period last year.

"Market conditions have tightened considerably this spring as an upturn in consumer demand has not been accompanied by a rise in homes listed for sale," said Cameron Muir, BCREA Chief Economist. "The supply of homes for sale in the province has fallen 50 per cent over the past five years."

"The entire

Whatever your reasons for re-financing, the condition of your property is always important if it needs an appraisal.

If you need to re-mortgage or just renew your existing mortgage you may find that the lender will request an appraisal, this is at the lenders expense mostly but if your home does not appraise correctly then then you maybe forced into situations such as putting the home for sale or having to come up with cash to bridge the gap. Lenders look at the property to see what the house would yield in a foreclosure sale, in the unlikely event that you default on this mortgage agreement. These steps are helpful no matter why you are having a home appraisal. Some appraisers will only walk around the outside and check the overall condition of your

In our changing mortgage market where traditional lenders shy away from risk, some buyers may have to consider the alternative

For those not familiar with mortgage lenders, alternative lending agencies – including B-lenders – have previously been thought of as the car salesmen of the lending world. They were the last resort; the place you went only when there was nowhere else to go. Today, however, they might also be the only lender willing to do business with you.

Recent changes to Canada’s mortgage regulations, coupled with the fury of Vancouver’s real estate market, has made B-lenders highly sought after, and, quite frankly, for some the only option. But are B-lenders the last hope for many BC home buyers?

The reality of today’s market is that

When it comes down to selling your home, there are certain home improvements that will generate more value than others.

Knowing which ones are right for you can be tricky; after all you want to maximize your return on investment (ROI) without sacrificing too much. Replacing the practical, everyday, features of your home, remembering to landscape your yard, and constantly maintaining your home are some of our top tips for valuable home improvements.  

Replacing the Practical Features

The practical, everyday, features of your home are the ones that will add significant value. Updating outdated windows, either by replacing or painting, can create a great first impression; as the exterior of your home will look fresh and new!

Then there’s

When making the decision either to rent or buy a place to live, there are two broad categories of factors that must be considered.

The first and most obvious category represents the financial aspects of your decision. The second category is a set of personal and emotional factors, which are more intangible but play an important role in the decision to rent or buy. Here, we look at the financial factors, including the initial and ongoing costs as well as the long-term pros and cons of owning your home.

Examining Your Finances

The first step in the decision-making process is to determine whether or not you can afford to purchase a home. Issues to consider include your ability to make a down payment (generally between 5% and 20% of the home's purchase

Are you gearing up to buy your first place?

Shopping for a home is exciting, exhausting and a little bit scary. In the end, your aim is to end up with a home you love at a price you can afford. Sounds simple enough, right? Unfortunately, many people make mistakes that prevent them from achieving this simple dream. Arm yourself with these tips to get the most out of your purchase and avoid making 10 of the most costly mistakes that could put a hold on that sold sign. (Don't know even where to get started when purchasing a home?

1. Not Knowing What You Can Afford
As we've all learned from the subprime mortgage mess, what the bank says you can afford and what you know you can afford or are comfortable with paying are not necessarily the same. If you

As the summer approaches, Canadians from coast to coast are getting ready to indulge in the ultimate homeowner’s pleasure: renovations. And what better way to finance that marble countertop than a home equity line of credit (HELOC)?

By Erica Alini National Online Journalist, Money/Consumer  Global News

HELOCs are loans where the borrower’s equity in her or his home acts as security. And they are Canadians’ preferred financial tool to pay for large home improvement projects, for a few reasons.

First, they allow homeowners to borrow large amounts of money. Do you have $100,000 of equity in your home? You might be able to get a HELOC for close to that amount — and that should be plenty for, say, most kitchen redos.

Second, because the bank can

Canadians just aren’t interested in buying homes the way they used to be.

That much is clear from the annual RBC Home Ownership Poll, which was released Monday. It showed that only a quarter of Canadians plan on buying a home in the next two years, down from nearly 30 per cent in 2016. It’s a trend that comes as Canada’s average home price has climbed to almost $520,000, up 3.5 per cent from a year earlier, according to the Canadian Real Estate Association (CREA).

Many Canadians still believe that buying a home is a good investment, but potential buyers are delaying their purchases in the hope that prices will come down, the RBC poll showed.

“For many Canadians, buying a home is a financial and personal milestone – often the biggest investment