Kamloops Property For Sale Real Estate Blog - January, 2016

What should a real estate lawyer do for you? How to choose one..

Whether you are the buyer or the seller of real estate, it is important that you obtain a lawyer to represent your interests. There are many potential legal pitfalls for the unwary when buying real estate. The agreements for purchase and sale and other related documents are complex. To most people the purchase of a home is the largest investment of their life, and the agreement for purchase and sale is the most important legal contract they will ever sign, next to a will of course!

Don't forget to check our local business directory for lawyers - CLICK HERE

There are a number of ways to select the right lawyer for your needs:

Ask friends who have purchased real estate which lawyer they hired, whether they were satisfied, and why or why not.
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Can I Get a Mortgage with Bad Credit?

Is It Possible to Get a Mortgage with Bad Credit in Canada?

You had a few financial setbacks when life’s speed bumps tripped you up, but now you’re on the right path and are ready to take the leap into home ownership. The only problem is: you’re not sure if your pesky credit history is going to prevent a lender from giving you a mortgage loan. The good news is there are some options available to you; the bad news is they don’t always come cheap. Here’s a quick breakdown of how you can check your credit score and, if you need to, get a bad credit mortgage. While many brick-and-mortar banks consider customers with poor credit to be high risk, there are lenders who are willing to extend loans to clients, regardless of their payment history. One option is…

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Bruised and battered: the loonie’s bumpy ride - Article from Global News

Canada's dollar has been on a continuous slide, oil has dropped and the markets were all down. Prime Minister Justin Trudeau says he's "tremendously optimistic," but his finance minister sensed a different mood on a visit to Calgary.

The Canadian dollar is in the midst of its steepest decline in history. On Jan. 15, 2014, it was trading at a little over 91 cents U.S.

On Friday, it dipped below 69 cents US for the first time in 13 years.

That’s a drop of almost 25 per cent. In just two years.

That means your one-day ticket to Disney World near Orlando, Fla., – pegged at US$105 – will run you at least C$150. Two years ago, it would’ve set you back a little under C$115.

Throw in a few nights in a hotel, some meals and the cost of travel,…

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CBSA blames money laundering for Vancouver market

Lenient border laws, permissive property rules and loose regulations are being identified as key drivers of foreign investment in the Canadian market, including money laundering by Chinese and international investors, according to a recent newspaper report.

According to an article in The Province, which obtained data from the Canadian Border Service Agency through a freedom of information request, Vancouver is being targeted by a small percentage of Chinese nationals as a place for illicit offshore investment. A recent fraud investigation reported by The Province shows that the number of Chinese, and other international groups, laundering money in Canadian real estate is increasing by the day.

Kim Marsh, a B.C.-based fraud investigation executive, told…

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B.C. government mulls housing market cooling measures

With the upcoming preparation and approval of its budget next month, the British Columbian government is set to tackle housing relief as a primary concern.
 
Premier Christy Clark said on Tuesday (January 12) that luxury or speculation taxes won’t be implemented in the government’s bid to moderate Vancouver’s surging housing market, which has put an increasing number of homes out of reach of a growing fraction of would-be owners.
 
Clark did not give further details, only saying that the measures would focus on providing relief for first-time buyers without devaluing the properties of current owners.
 
“We’re thinking of a whole range of things. You’ll see more of it as we get closer to the [Feb. 16] budget,” Clark told media in a press conference, as…

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BC Homes Sales Smash All December Records as Prices Breach $700K: BCREA

Province posts highest number of residential unit transactions ever recorded for the month of December, propping up weaker Canadian markets

 Home sales across BC smashed all December records, according to BC Real Estate Association (BCREA) figures issued January 15. There was a total of 6,590 residential unit sales on the Multiple Listing Service® (MLS®) in December 2015 – a rise of 29.8 per cent from December the previous year. BC’s total home sales dollar volume in December hit a record $4.62 billion for the month of December, up 55.4 per cent compared to the previous year.

This is attributable to both rising transaction volumes and the average price in the province climbing above the $700,000 threshold for the first time in BC, rising 19.7 per…

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How Do I Negotiate With Buyers Over Problems in a Home Inspection?

If you're selling your home, there are ways to minimize re-negotiations because of issues arising from a home inspection

Q: How do I renegotiate with my home's buyers over problems arising from their home inspection?

A: When you are selling your home or condo, often times there are issues with the property that you might not be aware of. At this stage the buyer will often want to renegotiate the agreed price based on the results of the inspection. So how should you, the seller, respond? This is when you get the value out of your Realtor, they will be working for you in this process so make sure you choose a good realtor.

With a home there are often issues that be very costly to repair. One approach to take, as the seller, is to address the issues…

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3 types of Low Ball Offers (and how to respond to them)

So you got a “Low Ball” Offer on your house for sale…Unfortunately, “low ball offers” on homes are more common than you may think, particularly among investors. A “lowball offer” is an offer that is far below a home’s asking price (sometimes ridiculously low—but the value of “low” is in the eyes of the recipient). There is not really a benchmark for how low an offer is to be considered a “low ball,” but believe me, if you receive one when selling your home, you’ll know!

So…how should you respond? Should you tell them where they can stick it?

(It is soooo tempting!!) I say, usually, no! WHY?? You know, a bird in the hand and all that…

More than likely, you are angry. You are probably also insulted. It is difficult to do, but try to place your…

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House Hunting This Spring? 5 Tips that can get you your home....

Spring and all its glory is right around the corner—just take a look at the signs all around you.

No, we’re not talking about the budding flowers or the chirping birds—we’re referring to those “For Sale” signs that start popping up on lawns across the country as the weather starts heating up.

And once the home-buying season commences … so do the bidding wars and mad dashes from one open house to another.

Since the housing market can be a tricky one to suss out, we asked agents across the country to give us their assessments for this season’s real estate landscape.

Their overarching observation? This will be a competitive home-buying season—so if you snooze, you may lose out on that perfect home you’ve been eyeing.

The current market is a…

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Private Client Services - What is it and why you should sign up....

So are you looking to buy a home in Kamloops? Tired of looking on www.mls.ca and constantly sorting out the good from the bad? Ever wonder how folks get to see the latest properties first?

Why not give me a call today and I can set you up on your very own Private Client Services (PCS) program.

PCS is your very own web based page that we setup together. It uses your criteria for location, price, bedrooms etc. and will email you a list of properties that match your specifications, not only that but you learn about new properties before they hit mls.ca. In today's market of low housing inventory that could be the difference in getting your home or losing out.

Its free and there is no obligation whatsoever, you can cancel anytime or request the…

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