Liberal win: Good for first-time home buyers, investors

But prepare for an “uptick” in interest rates

The Canadian 2015 election. “It was a very clear verdict that Canadians were seeking real change,” said Pramod Udiaver, CEO of online advisor service, Invisor. “The Liberals campaigned and won with a focus on the middle-class,” says Udiaver, “with many of their promises attempting to make a meaningful difference for middle-income families.”

While most Canadians still struggle with paying too much in taxes, trying to maximize savings while making sound financial decisions, the new Liberal majority government will have real impact on the nation’s real estate market.

Continued interest by foreign investors

“From a fiscal point of view, the Liberal government will be moving Canada from a modestly…

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6 questions to ask during an open house

Consider it an opportunity to learn more about the house, the sellers and the neighbourhood

An open house is the real estate world’s version of window shopping. It’s an opportunity to sneak a peak at a neighbour’s home, and a chance to size up a potential house or neighbourhood.

But for most window-shoppers, ignoring or minimizing talk with the real estate agent at an open house lands somewhere between a challenge and a sport. It shouldn’t. While there’s no question that the realtor hopes to drum up business by holding an open house, they can also be a wealth of information. It’s just a matter of asking the right questions. Here are six questions to ask at the next open house you visit.

1. Why do the sellers want to move?

Listen, we all read…

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Is it time to sell your rental property? Or time to buy another?

According to Statistics Canada, 69 per cent of Canadians own homes, so most of us have reason to worry about the fate of the housing market. Landlords, in particular, make a conscious choice to invest in real estate that goes beyond just a place for their families to live. As a result, landlords should be paying close attention to the conflicting views and data on Canadian real estate.

One in 20 Canadians own rental real estate according to the Financial Industry Research Monitor. An Altus Group study shows that for households earning more than $100,000 per year, rental real estate ownership is twice that of the general population – about 10 per cent.

So the question is: buy or sell?

Buy

Donald Trump may very well be the next…

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Home Staging Tips: How to Have a Successful Yard Sale

Decluttering is the first step in staging a home for sale, but what to do with all those unwanted items? Tina Parker has a great solution and how to execute it.

 We all know that when you’re selling up, decluttering is a key part of staging your home for sale. But after you have decluttered and come up with storage solutions, you will need to get rid of everything you have decided to part with. A good way to use this to your advantage is to have a yard sale.

In order to have a successful yard sale, you will need to apply the four Ps of marketing: product, price, place, and promotion. So you must know your products, set appropriate prices, find a place that will showcase your items, and promote your sale properly.

Product

Be organized and make…

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Info for Sellers: How to sell your home (Pricing)

 What is the correct price for your home...

Billy Buyer is looking for a new home. He has been pre-approved for a $360K purchase.  He has already expressed his desire to not even look at anything above his affordability level, so we’ve added just a bit of room to the price to allow for negotiating and will only be viewing those homes at or below a $375K limit.

Unfortunately, your house is priced at $410K, which is way above his $375K cap, and which is also about $50K above the market value.  Only you and your agent know why you priced it so high, but I do know your home would be PERFECT for Billy, and I also know it’s definitely overpriced.  Billy won’t see it, and therefore won’t buy it.

Not pricing a home properly for sale can be the biggest…

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Home Staging Tip- Stand Out Like a Red Sweater!

Even though it is currently a seller’s market, you don’t want to leave the sale of your home to chance.  And, you want to do what you can to protect your investment.

Years ago when I placed office support staff, we would tell our applicants that they needed to have something that made them stand out like a red sweater in the crowd.

All things being equal...you live in a sought after neighborhood, you’ve recently painted your home and you’ve made all attempts to keep up with maintenance…what else can you do? How can you stand out?

How to Make Your Home Stand Out Like That Red Sweater…

1.Take another look at the front of your house.

It’s not enough to have your lawn mowed.  What does your whole picture say? Can buyers see your…

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Five Great Tips For Selling Your Home During Winter

On dark, dreary days, your home may not be looking its best.

Sometimes the last thing someone wants to do during the winter months is shop for a home. As real estate agents we always dread showing units on dreary, rainy days because it often doesn't show a property in its finest light (quite literally).

Now that the holidays are over, let's have a look at some tactics to make your house stand out in the crowd. Don't let the winter blues get you down, just follow this great advice and your property sale will happen sooner rather than later.

1. Don't Let Winter Win

Even when it's driving rain and super cold, there are things you can do to use this to your advantage. Focus on providing a warm, dry home to prospective buyers, make sure your…

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October Kamloops Real Estate Sales

Kamloops and District Real Estate statistics for October 2015

In the month of October the Kamloops real estate market slowed down from September As can be seen from the latest news from Kamloops and District Real Estate Association (KADREA) there was a  drop in sales in the Kamloops property market, not untypical for this time of year. As can be seen by the following chart there was an overall drop of around 20% of sales over September.

Kamloops And District Real Estate Association
Kamloops Residential Sales by Sub-Area - Monthly - October 2015
Generated on: November 1, 2015

Brocklehurst keeps the highest number of sales as it did in September 2015 even after a 36& decrease. The difference between September 2015 and last months sales…

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Canadian Dollar Forecast: Another Interest Rate and Weakness Lie Ahead

Analysts at BNP Paribas say the Bank of Canada will be forced into another interest rate cut - a negative move for the value of the CAD

Underlying U.S. dollar strength and weaker oil prices below $45 kept Canada’s commodity influenced currency near the three-week lows hit Friday.

Near-term, the loonie will take a fundamental cue in Friday monthly growth data, forecast to show the economy grew a third straight month in August, albeit barely with forecasts of 0.1 percent.

The soft growth data has not been enough to convince the Bank of Canada that rates should remain where they are.

Indeed the steady rates profile - arguably a positive for the CAD at this stage - come despite the BoC revising down growth projections for 2016 and 2017 while…

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Rising rents attracting investors in BC

High demand coupled with a lack of inventory. Sound familiar? That combination is not just the domain of the residential housing market, but also the multi-residential property market in Vancouver, as investors, big and small look to get a piece of the action.

According to Avison Young’s Fall 2015 BC Multi-Family Investment Report, demand for multi-residential properties in Metro Vancouver and throughout the province remained exceedingly strong in the first half of 2015. Private buyers – both local and foreign – and, to a lesser extent, institutional investors and REITs, were increasingly willing to accept record pricing and highly compressed capitalization rates as the cost of entry to British Columbia’s coveted multi-family real estate market.

Rising…

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