Market news and stats

January is the time for resolutions, and for many people, one of those resolutions is getting a mortgage and buying a house.

But if you’ve been keeping abreast of the recent changes in the mortgage industry or even casually following economic forecasts, then the prospect of 2017 may have you a little wary.
 

Assessing your personal situation

Only about half of Canadians think that this this is a good time to buy a home or a condominium in their community, according to a survey that was part of the latest Annual State of the Residential Mortgage Market in Canada.
 
“The fall 2016 responses to this question have been contrasted with consumer opinions on how the new mortgage insurance rules would affect their ability to buy a home or condominium.

2017 Royal LePage real estate forecast

Canada’s residential real estate market saw significant year-over-year home price appreciation in the fourth quarter of 2016, supported by considerable gains in the Greater Toronto Area (GTA) and Greater Vancouver, according to the latest Royal LePage House Price Survey and Market Survey Forecast.

The prediction for 2017 isn't as dire as some experts would have you believe; in the year ahead, Royal LePage expects the regional extremes in house price appreciation to narrow in 2017, primarily due to a price correction in the Greater Vancouver housing market, strong but moderating price appreciation in the GTA, and welcomed upward price trends in Quebec, Atlantic Canada and Alberta.

“The disparity in home price

Now that the real estate market is picking up again, many people are looking to sell their homes at last.

But when you sell, you have to move somewhere — which usually means buying another home. Buying and selling at the same time brings up a whole new set of challenges, but those who plan well in advance can make it happen smoothly.

DO YOU NEED TWO REALTORS TO BUY AND SELL A HOME

Before you start ask your self some questions.

Question 1. Is your home ready to buy? 

Prep your house to make a great impression on your potential buyers.

• Make small and large home fixes and improve curb appeal
• Know the comps for your neighborhood and price range
• Select a real estate agent to sell your home
• Optimize the interior space: remove

So what does LOW HOUSING INVENTORY mean to you?

Real estate is always subject to cycles, especially around growing and expanding communities like Kamloops. The reality is this area is now facing a shortage of housing inventory. If your a buyer moving to the area it is key to find a local experienced realtor who can get you up to speed on your knowledge of Kamloops real estate market, its not all doom and gloom as we show in this article. If you are a seller then the local "know-how" of a realtor is key in getting your house listed at the correct price with the best exposure possible. If you are selling and buying within Kamloops then there is even more need for a great local Realtor to get you the best of both sides of your deal.

From the Bank of

You listed your Kamloops home for sale and it seems as if one problem after another reared its ugly head.

Avoiding common home selling mistakes can determine the outcome of your home sale and whether or not you sell your home fast and for top dollar, all while reducing excess stress; now that’s good news, don’t you think?! We all like to avoid mistakes! I can almost hear your anxiety as you’re imagining experiencing these mistakes, but don’t worry, because today I’m going to tell you all about these common mistakes and just how to avoid them when selling your home. Keep reading to discover the mistakes you’ll definitely want to avoid:

1. You told your Real Estate Agent what price that you want to sell your home for and they quickly agreed – Why

Low Home Appraisal - What now?

In the home-buying process, there are several crucial steps along the way that Sellers and Buyers alike will have to navigate: the home inspection, title issues, getting a survey and negotiating when an appraisal comes in significantly lower than the accepted offer.

When this happens both sides can go through many different emotions.

Either you, as the Seller, will feel as though you paid more than the property’s worth, especially if you just recently completed renovations, or, if you’re the Buyer, and you don’t have extra cash to hand over, the deal can fall apart. (Your lender’s not going to spring for a higher loan amount if the appraisal came in lower than expected, so Buyers will have to make up that difference

House hunting might seem like an easy thing.

You go online, search for a home and put in an offer, but there are some key steps you need to consider when you’re entering the real estate market. Here are eight house hunting tips you might want to consider before starting your home search.

1. Take an honest look your personal finances before you start your search.
   Understanding your personal financial situation is the first step in finding your dream house. You will need to know how much you can contribute to a mortgage payment, the cost of maintaining a home, and also if you have any liquid funds to contribute to settlement costs. Don’t skip this step because you don’t want to fall in love with a house just to discover you can’t afford to live

Are there any great houses for a good price?

I have written before to advise home sellers about some of the key things they can do to improve the marketability of their properties. However, awareness of these same principles can also help the sharp-eyed home buyer to land a great place at a bargain price. The crucial thing, always, is to remember what’s important in a home, and what isn’t. Some of the apparent “problems” with a property may actually be very easy to fix. As always use your professional Kamloops Realtor to help you uncover a great property that is right for you.

Here are some of the ways you can find a great deal by disregarding some of the relatively minor problems with a home.

Some of the relatively minor updates needed for

If you bought or sold a home recently, chances are you signed a listing agreement – but did you truly understand what you were signing?

Selling a home is a stressful time and can be worse if an employment change for example is forcing you to move quickly. While a common component of real estate transactions, listing agreements can have language that can be overlooked. Here’s what you should know about them – before signing on the dotted line.

What is a Listing Agreement?

A listing agreement is standard paperwork between the listing agents brokerage and the Sellers of the property. This document is much like an employment contract between the Sellers and the Listing Brokerage. This paperwork is completed before the listing can be active as an

Life has a funny way of changing

When you buy your first home it could be that you bought it as a forever home but as life moves on things change. Jobs, kids and a multitude of other things can happen. Lets face it moving is not the most of relaxing life events (rated the third most stressful life event) and added to that the stress of selling makes for a difficult time. Then there are other factors that can effect the process, weather, seasonal issues, so If you are contemplating listing your home, here are a few tips you may find helpful:

1. DE-CLUTTER WELL IN ADVANCE

Even before your realtor sets an eye on your home - and at least a month prior to listing (make that two months if you still have VHS tapes) - confront your basement and open your