Fact or fiction in BC Real Estate.

The industry has been booming for well a while now. Low inventory has created bidding wars and fixer-uppers in some major cities are hitting seven figures. So how do you keep your head amid the frenzy? How can you wade through all the clutter and the chatter to suss out the info you need to make wise decisions?

How to interview your Realtor CLICK HERE

Well, you always have us in your back pocket. In the meantime lets look at some of the common misconceptions that we have all heard in real estate transactions.

#1: Question: Real estate contracts are standardized so just sign the paperwork and work out the details later.

Answer. Not on your life,. Each real estate contract is as unique as the pink and black

Eighty-eight percent of people 65 and older wish to age in place, according to an AARP survey.

For many people, this will involve staying in the home in which they have been living for many years. For others, it may be necessary to move into a new senior-ready home. Either way, this will probably involve some work as you strive to create an environment that allows you to live comfortably and independently.

Buying vs. Renovating

Many people’s current house may not be ideally suited to their needs as a senior citizen. Some people may live in old family homes that have become too large for their needs, while some have layouts that are not designed for the comfort of elderly people. For instance, according to Forbes, 60 percent of homes occupied by

You will often here real estate agents say your first offer is usually your best offer.  Now is this really a cliche or is it fact?

As a real estate agent, I can tell you this statement is mostly true.  It is not just a cliche and I am going to go into why “your first offer is usually your best offer” is often correct.

All to often sellers will be very adamant when a listing first comes on the market.  Activity is good and the home seller is feeling confident. Go back to when your agent gave you pricing on your home.  A real estate agent will give a range a home is worth.  It is just human nature that a home seller only remembers the high side of the range and automatically lists at that price or even a little higher. 

In no way I am suggesting

Whether you are thinking of buying or selling a home in Kamloops, understanding the current market is crucial.

You need to know if you’re in a buyers’ market or a sellers’ market because that’s going to affect how your property is marketed and how much money you’re going to get for your home. If you understand the market, that will tell you what your home is worth and what you can expect if you’re a seller. If you’re a buyer, it is going to tell you what the appropriately priced offer on the property would be.

If you are looking to sell or buy in Kamloops then why not have a read and see our tips or buyers and sellers

Currently in Kamloops (July 2018) we are in a seller’s market. In a seller’s market, you’re much better off listing your property

New Consumer Protection Rules:  Information for Consumers

The Superintendent of Real Estate has announced new rules for real estate licensees (Realtors) that will change the way a real estate professional can provide service to consumers. Under the new rules, real estate licensees will be required to:

• give consumers more information about commissions and fees —  in particular, how the commission is to be divided between a listing brokerage and cooperating brokerage, or when there is no cooperating brokerage, retained by the listing brokerage;
• before working with consumers, inform them of the duties and responsibilities owed to clients and unrepresented parties;  
• inform unrepresented consumers of the risks of dealing with a licensee who is

Buying a Home in British Columbia

Buying a home is the largest investment most of us ever become involved in. Yet people sometimes take less time over it than they do when buying a new car. That’s because it’s unfamiliar territory to many of us. We don’t know what questions to ask. We may take things for granted, rely on others when we shouldn’t, and sometimes we later wish we had known more about the process involved.

It is important for you to understand the the process that is normally involved in the purchase of a home, to recognize the significance of the documents you will encounter, and to understand the role of other people who may be involved in the transaction. Buying a home is a major event. This information will help you better

Being a first-time home buyer without guidance from qualified professionals is like using the internet to diagnose a serious illness -- it’s not going to end well. That’s the advice Toronto real estate agent and industry expert Karyn Filiatrault gives to millennials looking to enter the housing market.

She joined CTV’s Your Morning on Tuesday to warn against some of the biggest mistakes she sees real estate rookies make, even when they are getting help from the pros.

Not getting pre-approved by an experienced mortgage broker

Online calculators can help buyers get a rough idea of how much housing debt they can handle, but Filiatrault recommends using a mortgage broker to find the rate and terms that are best for you.

She adds that younger

Fear of rising interest rates is causing more Canadians to opt for fixed-rate mortgages over variable-rate alternatives that could save them thousands of dollars in payments, according to a leading expert.

Justin Thouin, CEO and co-founder of LowestRates.ca, is calling for consumers to base their mortgage decisions on 30 years of downward trending rates, rather than locking in on a guess about what the Bank of Canada will do during the life of a mortgage.

“Canadians have become more concerned about not being able to pay their mortgage. They want to lock their mortgage rate in so they know the amount they have to pay in interest,” he told CTVNews.ca. “It’s a fear-based response.”

The Bank of Canada cautiously held its key interest rate at 1.25 per

British Columbia's NDP government will introduce tax measures designed to push down the price of housing by targeting vacant homes owned by out-of-province investors.

Finance Minister Carole James said she hopes this and other changes will cool real estate costs, but would not predict how much, or what will happen if they take a bigger bite out of housing values than intended.

"We are treading on new ground," she told reporters on Tuesday as she unveiled her first full budget.

"We will be doing the analysis as we implement them."

The $54-billion balanced budget also promises historic investments in child care to create new spaces and train more caregivers, while giving tens of thousands of families access to two new programs to subsidize

Stuck between a rock and your mom’s basement

Multiple generations living under one roof isn't a new concept, but it is on the rise in North America, especially with millennials. This housing shift comes as a result of many factors, including work challenges and the rising cost of rent in most parts of the country. In fact, millennials are starting their adult lives after the worst financial crisis since the 1930s. This change has been the subject of much speculation and comparison to earlier generations, so personal finance expert Rubina Ahmed-Haq stopped by to help shine some light on why Generation Y is staying put for now.

Gen Y – commonly referred to as millennials – are people born approximately between the 1980s and the mid-1990s. Increasingly