Market news and stats

When the time comes to sell your home, you may be tempted to sell it yourself. There is only one reason for doing so, and that is saving on a real estate commission. Other motivation could be a personal challenge or learning experience, but basically the desire to save money is the main motivator. You may indeed save money, but on the other hand, the saving could be an expensive illusion.

Based on my  professional experience, there are some general disadvantages of selling a home yourself, as opposed to using a carefully selected and experienced Realtor. The following remarks are not intended to dissuade you from attempting to sell your own home, but rather to place the process in a realistic perspective. These comments apply whether you are selling

Swimming Pools.. Good idea?

I know its still winter but are you looking for a home with a pool? Here are some facts!!

Sparkling blue water, especially when it's lit up at night – what's not to love about a swimming pool in your backyard? If you have one, you may feel blessed. If you don't, and are considering adding one, hang on a minute.

Who Wants a Pool?

According to Better Homes and Gardens Real Estate, middle-aged buyers with teenagers at home comprise the biggest market segment for homes with swimming pools. This makes sense when you consider how dangerous an un-fenced pool is for families with toddlers.

Another segment of home buyers who may find a pool desirable are younger couples who entertain frequently. There has been a lot

The Canadian Real Estate Association has updated its forecast for 2016, with two provinces expected to lead the way.

“Since CREA’s last forecast published in September, housing markets in British Columbia and Ontario have strengthened further,” CREA said in its updated housing forecast. “As a result, CREA has raised sales and average price forecasts for these provinces.”

National sales for the rest of the year have also been revised higher.

Home sales in Ontario are expected to rise by 9.3%, which would be higher if prices in the GTA were more affordable, CREA said.

“British Columbia is projected to post the largest annual increase in sales activity in 2015 (+21.4 per cent), while Alberta (-21.4 per cent), Saskatchewan (-10.8 per cent), and Nova

Conventional wisdom says wait until the warmer months to put your house on the market. Here are a few reasons to rethink that idea.

Thousands of homeowners speak to their real estate agent this time of year to consider their sale options — typically for the spring. It takes a few months for the agent and seller to plan and prep to list the home, so starting now makes sense. There's a common misconception that the only time to buy a home is in the spring and summer, with plenty of homes on the market, you're bound to find the right house, but if you just can't wait, don't fret. Here's why you should reevaluate your idea of the home buying seasons.

Over the years, I’ve asked sellers if they would consider listing their home in January, right after the

While some move to Canada to be with family members or for gainful employment, many others emigrate here to escape difficult situations in their home nations. Regardless of the motivation for moving, owning a piece of property is both a huge point of pride, and one of the most sought-after components of establishing a home in a new country.

But obtaining a mortgage in Canada for the first time can be a tricky undertaking without the right guidance and knowledge. There are several important points for new Canadians to take note of if they plan to purchase property in the near future.

You're considered a new arrival to Canada during your first five years in the nation, and you will be eligible to obtain a mortgage if you have your permanent

Popular misconceptions about real estate make many people hesitant to get into the home-buying or -selling game. And that’s a shame.

If you’re considering buying or selling a home, don’t let the following conventional wisdom stop you. There’s not as much truth to it as you think.

Misconception: You don’t need a real estate agent to buy a home now that all the information is online

Today it’s more important than ever to have a great local real estate agent on your team. And there’s no cost to you, so why not get an experienced pro on your side?

It’s no longer about agents having access to the proprietary data — it’s all out there. But since buying a home is such an infrequent transaction in your life, you need someone along on your journey who

Vancouver, BC – December 14, 2015. The British Columbia Real Estate Association (BCREA) reports that a total of 8,032 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in November, up 34.5 per cent from the same month last year. Total sales dollar volume was $5.38 billion, up 56.4 per cent compared to the previous year. The average MLS® residential price in the province rose to
$668,317, up 16.3 per cent from November 2014

“Housing demand last month was the second strongest ever recorded for the month of November,” said Cameron Muir, BCREA Chief Economist. “You’d need to look all the way back to the frenetic market of 1989 to find more homes trading hands in November.“

The largest increase in consumer demand occurred in

Kamloops should escape the price shock homeowners in many parts of the province will experience when they tear open assessment notices next month.

Area deputy assessor Graham Held said yesterday that, while real-estate sales volumes in the Thompson region remain healthy, the market is not seeing the wild price increases found in the Lower Mainland.

“We’re looking at another flat market this year, a marginal increase,” Held said of assessment valuations.

Property owners across B.C. receive assessment notices in the first week of January. Those notices reflect property values as of July 1 the previous year.

“Certainly in the Kamloops market, it’s marginal increases,” Held said.

Kamloops & District Real Estate Association president Cyndi

Todays news from the Canadian Real Estate Association

Today, the government announced its intent to raise the minimum down payment requirements on homes valued over $500,000. Requirements will remain at 5 per cent down payment for homes under 500,000. Any amount over $500,000 will require a 10 per cent down payment. For example a $700,000 home will require a $45,000 down payment, 5 per cent on $500,000 and 10 per cent down on the remaining $200,000. The announced changes will take effect on February 15, 2016.

The government cites its desire to “contain risks in the housing market” as the reason for its decision.

As you know, the issue of an increase to minimum down payments is something CREA has effectively and successfully fought against since

Mortgage insurance a must for those with high-ratio loans

Hot markets and cold feet might keep some people out of the housing market, but a lack of upfront cash doesn't have to be an obstacle. While it's long been the convention in the industry to start with a 20% down payment, the availability of mortgage default insurance means ownership is still possible with as little as 5% down, as long as the buyer meets industry standards of income and creditworthiness.

"What mortgage insurance allows people to do is to get into the market with today's prices, with today's low interest rates, once they have determined that home ownership is right for them," says Mary Stergiadis, principal for Ontario business development at Canada Mortgage and Housing