Kamloops Property For Sale Real Estate Blog - February, 2019

Kamloops expected to experience second-largest jump in average housing price in 2019

The B.C. Real Estate Association has released its first quarter housing forecast summary and it's projecting a slight boost in the number of sales and a steady increase in the price of homes in Kamloops and across the province.

"We've seen a tremendous amount of growth the last few years, and the unemployment rate is incredibly low right now. So it certainly signals full employment in many sectors, which is certainly positive for consumers, for housing demand," noted the chief economist for the B.C. Real Estate Association Cameron Muir, who is predicting the growth over the next two years.

Kamloops is following the downward trend of housing sales in 2018 — down 10.8 per cent in housing transactions last year compared to 2017. But housing sales…

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10 Best cities to move to In British Columbia when relocating

Everybody 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…

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B.C. home sales to creep back up over next two years: BCREA

Real 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.

The association said that…

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4 Things That Can Turn Your Home into a Welcoming Vacation Rental

Are you thinking about renting out your home?

Guest article written by Karen Weeks from www.elderwellness.net

Vacation rentals are becoming a lucrative investment these days. With more travelers looking for houses rather than crowded hotels, there’s no better time to get your home ready to rent. However, what are the best ways to prep your home and maximize your rental income potential? Here are a few things you may want to focus on when turning your home into a profitable vacation property.

Use Color to Set The Right Mood for Potential Renters

Whether your renters are traveling for business or leisure, they’re going to be looking for accommodations that help allow them to relax and have fun. That’s why you should be intentional with the…

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What Buying a House “As Is” Really Means

A house being sold “as is” is a real estate term you should know before you start house hunting.

You found a house in your dream neighborhood. It has the right number of bedrooms, bathrooms, and a nice backyard. It’s just what you were looking for. Then you learn it is being sold “as is.” That house that seemed so perfect now seems a bit frightening.

Selling as house “as is” basically means the seller will make no repairs or improvements and is selling the house in its current condition. In many cases, the houses are “as is” because the seller can’t afford to make the improvements. “Once you buy that house, it’s yours and you’re pretty much stuck with whatever decision you made, so you really need to be very educated and thorough about what you’re…

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Do I Need a Buyer’s Agent in Kamloops?

What is a Kamloops buyer’s agent?

A buyer’s agent is a licensed Realtor who works on behalf of the buyer through the process of purchasing a home. The fiduciary relationship between the two parties is established when the buyer and agent both sign an buyer agency agreement which goes into detail about the buyer’s agent’s duties to you, how they’ll get paid, the duration of the contract, and what their role will be throughout the process.

With a buyer’s agent, you will have someone to accompany you on showings, familiarize you and your family with the selected neighbourhoods and what they have to offer.

First off the term “Agent” actually refers to the Brokerage that a salesperson or broker works for and the contracts are technically with that…

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Danielle Doucet earns the Royal LePage Red Diamond Award for 2018

A special thank you to my past and present clients, friends and family for another great year.

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…

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Down Payments Delay Homeownership by up to 35 Years

In 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…

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How to Take Equity out of Your House to Buy Another

There are some parts of Canada where the prices of real estate have already shot up toward what is likely to be a peak for the time being.

In some other areas, though, the markets are just heating up, and interest rates are still relatively low. This makes this a terrific time to start investing in real estate. However, if your liquidity is on the low side, where do you get the funds?

Why borrow against home equity?

What is home equity? It’s the difference between the market value of your home, as determined by an appraisal, and what you owe on the mortgage. If you bought a house for $750,000, and you’ve paid down the balance on the mortgage to $250,000, but the value of the home has gone up to $900,000 in the years since you bought it, you have…

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Shhh! Don't say you like the house!

Many homes these days have surveillance equipment ranging from high-tech motion detector and video cameras to so-called “nanny-cams.”

Home buyer beware! The seller may be watching. And listening.

A growing number of home sellers are using security cameras and microphones to watch potential buyers as they tour their houses or condos. They then may use what they hear or see as leverage in price negotiations.

Home sellers also use such equipment to protect their belongings during open houses and showings. The trend has been fueled by the spread over the past five years of inexpensive Wi-Fi enabled cameras and mics that homeowners can buy and set up themselves for home security. Motion sensors notify them by text or email that a visitor is in their…

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