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

 What is the correct price for your home...

Billy Buyer is looking for a new home. He has been pre-approved for a $360K purchase.  He has already expressed his desire to not even look at anything above his affordability level, so we’ve added just a bit of room to the price to allow for negotiating and will only be viewing those homes at or below a $375K limit.

Unfortunately, your house is priced at $410K, which is way above his $375K cap, and which is also about $50K above the market value.  Only you and your agent know why you priced it so high, but I do know your home would be PERFECT for Billy, and I also know it’s definitely overpriced.  Billy won’t see it, and therefore won’t buy it.

Not pricing a home properly for sale can be the biggest

Even though it is currently a seller’s market, you don’t want to leave the sale of your home to chance.  And, you want to do what you can to protect your investment.

Years ago when I placed office support staff, we would tell our applicants that they needed to have something that made them stand out like a red sweater in the crowd.

All things being equal...you live in a sought after neighborhood, you’ve recently painted your home and you’ve made all attempts to keep up with maintenance…what else can you do? How can you stand out?

How to Make Your Home Stand Out Like That Red Sweater…

1.Take another look at the front of your house.

It’s not enough to have your lawn mowed.  What does your whole picture say? Can buyers see your

On dark, dreary days, your home may not be looking its best.

Sometimes the last thing someone wants to do during the winter months is shop for a home. As real estate agents we always dread showing units on dreary, rainy days because it often doesn't show a property in its finest light (quite literally).

Now that the holidays are over, let's have a look at some tactics to make your house stand out in the crowd. Don't let the winter blues get you down, just follow this great advice and your property sale will happen sooner rather than later.

1. Don't Let Winter Win

Even when it's driving rain and super cold, there are things you can do to use this to your advantage. Focus on providing a warm, dry home to prospective buyers, make sure your

Kamloops and District Real Estate statistics for October 2015

In the month of October the Kamloops real estate market slowed down from September As can be seen from the latest news from Kamloops and District Real Estate Association (KADREA) there was a  drop in sales in the Kamloops property market, not untypical for this time of year. As can be seen by the following chart there was an overall drop of around 20% of sales over September.

Kamloops And District Real Estate Association
Kamloops Residential Sales by Sub-Area - Monthly - October 2015
Generated on: November 1, 2015

Brocklehurst keeps the highest number of sales as it did in September 2015 even after a 36& decrease. The difference between September 2015 and last months sales

The Real Estate Investment Network (REIN) released the 2013 edition of its Top British Columbia Investment Towns report.

 Why not sign up for our free home buyers e-book - CLICK HERE

The 110-page report analyzes the current and future prospects for real estate investment opportunities in the province over the next decade and has once again ranked Kamloops as a top investment community. However, the city’s ranking has dropped slightly, from third place in a previous edition of the report to fifth place in the most recent edition. The entire report is available for download free of charge at www.topbctowns.com.

While remaining a popular vacation destination for BC residents, Kamloops has also succeeded in attracting many non-tourism related

When you buy a home, your best results will come when you make it a point to make a 20% down payment. However, for some Canadians, that much of a down payment is prohibitive. So, what can you do if you can’t make such a big down payment? If you are willing to pay extra for your mortgage, you can get special insurance to help lenders feel better about approving you for a loan with less than 20% down.

The Canada Mortgage Housing Corporation provides mortgage loan insurance to lenders for home buyers with a down payment of less than 20%, to as low as 5%. It offers a way for borrowers to get away with putting down a lower down payment than a lender might like. It’s one way to boost home purchases in Canada.

However, it is important to note that this

To inspect or not to inspect - that is the question!

The question:

I’ve been house hunting for months and finally found a great house, but I know there’s going to be a lot of interest. I know everyone says I need a home inspection, but I’m afraid I’ll lose the house if I put any conditions on the offer. Should I ditch the inspection?

The answer:

Finding the right approach to offer conditions, is hot button topic these days, especially in the Toronto market where multiple offers have become the norm. Sellers with multiple potential buyers will often look to offers with the minimum of conditions, and the home inspection clause is often one of the first to go.

My advice: Don’t succumb to temptation or pressure to ditch a home inspection. If a