Real estate news and issues Province and national factors

See how external issues can effect your home buying or selling in Kamloops B.C.

Found 151 blog entries about Real estate news and issues Province and national factors.

Canada and CoronavirusCOVID-19 has hit 2020 like a wrecking ball, slowly making its way across borders.

Social distancing has us all pressing pause, letting go of priorities in favour of time spent indoors, connected only though our screens. Alas, in the real estate market, even amid a global pandemic, there are still sellers who need to sell, and buyers who need to buy. Lucky for us, in this age of technological glory, real estate agents have access to some great solutions to ensure that processes remain safe, and transactions can continue to take place. This too will pass, and in the meantime, we can all use a little creativity to ensure that our brief pauses don’t turn into a full stop.

The Real Estate Board of Greater Vancouver is "strongly recommending" against its

484 Views, 0 Comments

British Columbia AcreagesThe Province is proposing more residential flexibility for people living in the Agricultural Land Reserve (ALR) as outlined in a new policy intentions paper released Jan. 27, 2020, by the Ministry of Agriculture.

In order to support farmers and non-farmers living in the ALR, government is considering regulatory changes to enable landowners to have both a principal residence and a small secondary residence on their property, provided they have approval from their local government. ALR property owners would not be required to apply to the Agricultural Land Commission (ALC) for approval.

“We are continuing to do the work necessary to help farmers farm and protect farmland for future generations,” said Lana Popham, Minister of Agriculture. “The ALR is

344 Views, 0 Comments

BCREA 2020 First Quarter Housing Forecast Update

Vancouver, BC – January 23, 2020. The British Columbia Real Estate Association (BCREA) released its 2020 First Quarter Housing Forecast Update today.

Multiple Listing Service® (MLS®) residential sales in the province are forecast to increase 10.3 per cent to 85,290 units this year, after recording 77,349 residential sales in 2019. MLS® residential sales are forecast to increase 6.3 per cent to 90,700 units in 2021. BC real estate sales

“The outlook for home sales in 2020 is considerably brighter than the past two years,” said Brendon Ogmundson, BCREA Chief Economist. “Momentum carried through from the end of 2019 to 2020 will put the housing market on more solid footing, aided by low interest rates and an improving

397 Views, 0 Comments

BCREA BC real estate newsVancouver, BC – March 12, 2019.

The British Columbia Real Estate Association (BCREA) is calling on the federal government to revisit the B-20 stress test so that more BC families can achieve their dream of home ownership. Mortgage lending rules, known as the B-20 stress test, have eroded housing affordability by reducing the purchasing power of families by as much as 20 per cent. Introduced last year, the stress test forces even the most credit-worthy borrowers with large down payments to qualify at an interest rate that is two percentage points above the rate they negotiate with their bank.
 
“We would like to see a review and reconsideration of the current mortgage underwriting ‘stress test,’ as well as a return to 30-year amortizations for

558 Views, 0 Comments

The Housing Cycle is Entering A Big Shift In Key Cities Across North America

Who is generation YIf you are a baby boomer, this might sound familiar: You moved out of your parent’s home as soon as you graduated from high school; you lived in a place you rented – maybe even a ‘room’ in a larger house, where you shared the bathroom with the other tenants; you could put all your belongings in one small bag; and you saved up to buy a car.

That was the ideal lifestyle of the largest demographic ever to populate the world. It’s estimated that 9.6 million baby boomers are in Canada today and they are rapidly becoming the senior population – a population whose living conditions are far different today.

But did you know that there is another demographic as big as – if not

868 Views, 0 Comments

British Columbia Real EstateEverybody knows that British Columbia in Canada takes pride in its most temperate climate and the most breathtaking views. But everyone also knows it is the most expensive province to live in Canada.

Despite higher costs of living, BC is still a top choice for many Canadians and immigrants to relocate. 

Why Choose British Columbia for Relocation

If you are planning a move anywhere in British Columbia, you are about to discover one of the most spectacular places in Canada. British Columbia has a pretty diverse climate, depending on where you choose to live. Near the coast, you’ll experience dry summers and wet but mild winters. Near the Okanagan or Cariboo, winters are warm and summers quite hot. In contrast, the northern coast gets more rain and

1,315 Views, 0 Comments

BC Real Estate AssociationReal estate association offers optimistic forecast, saying buyers are gradually “adjusting” to mortgage stress test

Home sales in B.C. are likely to rise slightly this year, and more in 2020, according to a forecast released February 25 by the B.C. Real Estate Association (BCREA).

The association said it expects residential sales in the province to rise two per cent to 80,000 units this year. This follows a slow 2018 in which 78,345 homes traded hands on B.C.’s MLS®, which was 24.9 per cent lower than in 2017.

BCREA also predicted home sales to increase a further 6.9 per cent to 85,500 units in 2020. This would be a very normal level of activity, as the 10-year average for home sales in the province is 85,800 units.

BC Home salesThe association said that

473 Views, 0 Comments

Royal LePage Red Diamond Award 2018A special thank you to my past and present clients, friends and family for another great year.Danielle Doucet Red Diamond Award Winner 2018

 

I am proud to announce that I have been recognized at the ‘Red Diamond’ award level by Royal LePage corporate. The ‘Red Diamond’ recognizes some of the country’s top performing Realtors, and I have been ranked in the Top 2% of Royal LePage’s 18,000 Realtors. 

 Thank you SO much to all of our clients. Obviously, we could not have achieved this without your trust in allowing us to support you through the buying and selling process. We feel so lucky to be able to do what we do for a living, and we are extremely excited to see what 2019 brings.

 I very very pleased to also announce that I ended the year at the Royal LePage number 1 Realtor for Kamloops

610 Views, 0 Comments

Millenials and real estateIn a nationwide survey of over 9,000 prospective homebuyers carried out on its platform, Point2 Homes found that 66% of the Millennials interested in purchasing a home would like to do so within one year.

However, almost half (49%) of the survey-takers aged between 25 and 38 years old have savings significantly under the national average down payment amount, which is $25,000. Moreover, some of the Millennials in the survey state that they haven’t managed to set aside anything at all, meaning that the desire to buy a home might be in conflict with Gen Y’s budgetary realities.

Most Millennials Set Aside Less Than 10% of their Monthly Income

35% of Millennials state that they set aside less than 10% of their income each month and 30% of respondents

429 Views, 0 Comments

Kamloops rentalsBritish Columbia and Ontario continue to be the most expensive place to rent a room, or rooms, in Canada.

Canada Rent Rates A new rental report from PadMapper shows that Montreal is the only city in the country outside of those two provinces to crack the top 10.

Toronto takes the top spot for priciest one bedroom units with an average cost of $2,270, but Vancouver is easily the most expensive market for two bedroom units with an average cost of $3,280.

Alberta's major cities managed to stay out of the top ten, with Calgary and Edmonton ranking 13th and 18th respectively.

In Calgary, one bedroom units average out at $1,130 a month, while in Edmonton the average cost of a one bedroom home is $950.

On the east coast, Halifax leads the way at 16th with one

523 Views, 0 Comments