Kamloops Property For Sale Real Estate Blog - February, 2016

4 dos and don’ts of buying your first home

Thinking of buying your own place? It’s normal to feel a little overwhelmed. After all, it’s the biggest purchase you can make. In an effort to remove some stress from the equation, here are a few tips from the experts.

Don't forget to read our buyers advice pages..

What to do when you’re a first-time home-buyer:

1. Get pre-approved.

Some real estate agents won’t even work with you until you’ve been pre-approved for a mortgage. This is an important first step in the home-buying process. You don’t want to start house-hunting and fall for a home you can’t afford.

Plus, there may be problems with your credit that you don’t know about.

“Sometimes people are just unaware that they may have like a Sears card that they forgot to cancel and it’s…

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B.C. budget 2016 - What do you want to see?

Waning business and consumer confidence, runaway housing costs, commodities nosedive among issues eroding economic optimism

February 16th 2016, the BC government will release the new budget.

"Is the economy important to you?” the Facebook ad from the BC Liberal Party asks. “Should we stay at #1?” 

The answers are “yes” and “not sure,” and the implication is that if you want the B.C. economy to stay “#1” among Canadian provinces, you should vote for the BC Liberals and their small-c conservative strategies of keeping taxes and public expenditures low while boosting an exciting new liquefied natural gas (LNG) industry for the province.

B.C. led the country in economic growth in 2015 and is forecast to have the highest growth again in…

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Home sales and prices to fall even further in 2016, Calgary Real Estate Board projects

Annual outlook foresees weak demand, increase in supply, and no change in economic situation

Fewer homes will sell this year than last and they will sell for less money, the Calgary Real Estate Board predicts in its latest annual outlook, released Wednesday.

"This is a bona fide buyer's market and I don't see that changing in this calendar year," CREB president Cliff Stevenson told reporters.

The real-estate board foresees no change on the horizon for the local economy and expects demand for housing in 2016 to be weak.

Total sales activity is projected to fall to 18,416 units, down 2.2 per cent from the already low mark set in 2015.

Home sales in Calgary last year plunged 26.3 per cent from 2014.

CREB also predicts price declines in 2016…

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Housing market in Kamloops appears to be busy

Housing sales and prices are up over 2015 and the trend seems to be continuing into 2016

Listen to the CBC report here

© http://www.cbc.ca/beta/news/canada/kamloops/housing-market-in-kamloops-appears-to-be-busy-1.3433589

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What’s Involved in Selling your Kamloops Strata Property

If you’re listing your strata property and haven’t sold one before, there are some things you should know

The process of selling a strata property is not the same as selling a house, and it tends to be much more involved when it comes to drawing up the paperwork.

What Are You Actually Selling?

One of the major differences between selling a house and a strata property boils down to what exactly you are selling. When you sell a house, you are selling the home and the land it is on. With a strata property, you could be selling a unit with or without land depending on the development type. Typically, a strata property sale will also include areas that are under shared ownership by all unit owners in that complex.

It is important to understand…

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Strong Housing Demand Forecast Through 2017

BCREA 2016 First Quarter Housing Forecast Update

Vancouver, BC – January 28, 2016. The British Columbia Real Estate Association (BCREA) released its 2016 First Quarter Housing Forecast Update today.

Multiple Listing Service® (MLS®) residential sales in the province are forecast to edge back 6.2 per cent to 96,100 units this year, after reaching 102,517 units in 2015. Strong consumer demand is expected to push MLS® residential sales up by 2 per cent to 98,000 units in 2017.

Housing demand in the province is being supported by a relatively robust economy, leading to strong employment growth and rising wages. In addition, net interprovincial migration is on an upswing as many Albertans look to BC for job opportunities. BC home sales are forecast to…

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Return on renovation costs: How much will you get back?

Projects that can increase -- or decrease -- the value of your home

Canadians are investing in home improvement like never before.  While most plan to spend reasonable sums, others say they'll go all out: luxurious materials, home theatres, a Jacuzzi on the patio...even $60,000 kitchens are not that unusual! But how much of their investment will be recovered when their house sells?

Homeowners tend to embark on renovation projects to meet their needs, improve their quality of life or simply pamper themselves with a little luxury. But even if you're renovating primarily for your own sake, you should try to assess the post-project increase in the value of your house, just in case you ever want to sell. There is also the fact that a renovated house will…

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Co-buying with a firm legal plan

When friends, family become partners

With home prices moving ahead at a healthy clip, people are choosing to purchase a property with a friend or relative.

A lot of individuals, particularly younger adults, feel as if they have been priced out of the market so go in with a friend or a sibling to purchase the property. I see that as a trend that is going to gain momentum.

However, whether you are purchasing with a friend or relative this is essentially a business deal.

If you're looking at buying a property together, friends are no different from business partners. Consult a lawyer and consider what you are doing, the parties could enter into an agreement ... they should consider that they are business partners. The business is owning a…

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Be open to possibilities when choosing a home

Buying a new home can be a very exciting process with a happy end result.

But let's be honest: it can also be quite the roller-coaster ride. In reality, few of us are able to delve into our bottomless pockets, find our dream home and then move in the following day - no matter how much we would love to.

Over the years, I've come to notice certain patterns in home-buying behaviour. While most buyers begin the search with a firm idea of the type of home they are looking for, it's surprisingly common for them to change their minds mid search.

Some buyers may realize they are no longer eager to mow a large lawn, while others may discover the detached home they have dreamed of is actually beyond their reach.

Buyers should be encouraged to become…

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