How to choose a Kamloops income property

There are quite a number of variables to consider when purchasing a residential income property.

You’ll likely want to eventually engage with a real estate agent, but prior to doing so it is important to conduct as much research as possible. Remember to approach the purchase with an unbiased attitude and evaluate your options based on factual information.
 
Here’s a look at some of the top variables to consider when evaluating potential properties.
 
1. Economic outlook. Locations that are seeing employment growth will typically have more people moving to the area – this should also increase the potential renter pool. Conversely, locations that don’t offer as much employment opportunity or have/will see large employers leaving town, will often…

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Understanding Strata Fees

Condo living definitely has its perks. You can take advantage of amazing locations in the heart of urban centres close to public transportation. You can be a part of a community and you don’t have to spend your days doing yard work or home maintenance. But, best of all, you can enjoy convenient amenities like fitness centres, party lounges and pools, all at your doorstep. Sounds great, but how does this affect your bottom line? When purchasing a condo you want to consider your monthly strata fee.

What are strata fees and how are they determined?

Your monthly strata fee is money that’s used by the strata corporation to pay the common expenses of the development. Your individual fee is assessed by taking the total cost of the strata’s expenses and…

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Canadian home sales rebound in October

Ottawa, ON, November 16, 2015 - According to statistics released today by The Canadian Real Estate Association (CREA), national home sales increased in October 2015 from the previous month.

Highlights:

• National home sales rose by 1.8% from September to October.
• Actual (not seasonally adjusted) activity was little changed (+0.1%) compared to October 2014.
• The number of newly listed homes was up 0.9% from September to October.
• The Canadian housing market remains balanced overall.
• The MLS® Home Price Index (HPI) rose 6.7% year-over-year in October.
• The national average sale price rose 8.3% on a year-over-year basis in October; excluding Greater Vancouver and Greater Toronto, it increased by 2.5%.

The number of homes trading…

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Avoid these Home Improvement Mistakes to Sell Your Home Faster

Owning your home means more financial responsibility than merely being an occupying tenant in a rental property. There are a considerable amount of additional costs that go in to purchasing a house such as Home Owners Association fees, insurance, maintenance, and repairs. In spite of the extra expenses having a place to call your own gives you a sense of pride and accomplishment as well as provides a fantastic investment opportunity as equity is built over time. 

One of the best aspects of purchasing your own residence is the ability to put a personal touch in to the decor and style. Paint colors, flooring, lighting, or total room redesigns are all just waiting for you to choose and customize. However, a home owner not only needs to keep their finger…

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Don’t Shoot The Messenger

I’ve seldom been on a Listing Appointment, where the seller is thrilled to hear the truth about where their home should be priced. There’s a reason for that, and that’s because sellers have an EMOTIONAL INVESTMENT in their homes and it pains them to hear the FACTS about today’s market!

What many sellers don’t realize is that neither Sellers or Realtor's set prices. The MARKETPLACE determines the price of homes, and that is true for just about any commodity that’s for sale. And who determines the market are the BUYERS! Perhaps the most challenging aspect of selling a home is listing it at the correct price. It’s one of several areas where the assistance of a skilled real estate agent can more than pay for itself.

Too high can be as bad as too low. If…

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2 Benefits of MLS® listings

A key concern of many home owners looking to sell a home is the exposure that their home will receive, reports the Digital Journal.

In the world of real estate, the more people that see the listings of homes for sale, the better the deal will be in the end for the home sellers. However, it is vital to ensure that those who are viewing the property are actually qualified and motivated homebuyers.

MLS® listings are one of the best ways to ensure that a property get the maximum and best possible exposure. The MLS® system spans most of North American, and the majority of home sales are done through the MLS®.

It's important to note, however, that simply listing a home on the MLS® can only go so far. With that in mind, here are two ways to get the most…

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Real Estate Market Report for Kamloops, BC

Updated : Oct 2015

Houses

• Median price $399,900
• Monthly growth 0.52 %
• Quarterly trend
• Stock on market 1.72%

House Report

Across the country as a whole, Kamloops is in the top 20% when all of Canada’s suburbs are listed in order of real estate listing prices. The median house price listed in Kamloops this month is $399,900. If you’re looking at investment properties in Kamloops, then you’re most likely to find homes with 3 bedrooms on sale this month. From our data, it appears that neighbourhood is number 30th when comparing neighbourhoods by the number of properties available to investors across the nation, putting it in the top 10. It’s never an exact art, but to try to forecast how property is going to appreciate in…

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Canada is too friendly to shady real estate purchases

Canada needs to do a better job cracking down on shady foreign investors, many of whom may be laundering ill-gotten cash through real estate purchases. That’s according to a new report by Transparency International, a Berlin-based watchdog group.

Lax standards in Canada, as well as countries like the U.S. and China, make it easy for billions of dollars of shady money to pour into cities like Vancouver, according to the Vancouver Sun.

Former Prime Minister Stephen Harper promised to toughen regulations at various G20 summits, but right now finance rules are lax enough that it’s hard to determine whether foreign “money launderers and other corporate kleptocrats” are snatching up properties in Toronto and Vancouver, Transparency International Canada…

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First-Time Homebuyers Survey

OTTAWA, November 12, 2015 — Buying your first home is an exciting time but it also comes with many questions, concerns and in some cases, nerves. With that in mind, Canada Mortgage and Housing Corporation (CMHC) released today its 2015 First-Time Homebuyers Survey (#FirstTimeBuyers) coinciding with the fifth anniversary of Financial Literacy Month (#FLM2015).

“For many Canadians, buying their first home is the single, largest purchase they have ever made.” says Nathalie Fredette, Vice-President, Client Relationship Management. “Our aim is to provide mortgage brokers, lenders and other industry professionals with valuable information and useful tools so they can better guide their clients through this major life event.”

“CMHC’s survey results…

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Home Staging Tips : Appeal to All Five Senses

To appeal to buyers’ emotions, you have to put your own on hold and find clever ways to sell people a lifestyle.

 If you want to sell your house quickly, you need to look at it as a commodity rather than your home – a product and a lifestyle to be sold in the open market. You have to essentially become a retailer with a product to sell.

A general rule I follow when preparing a home to impress potential buyers is to satisfy as many senses as I can in each room. Use these tips as a guide to create a special experience during viewings, and keep them in mind when walking through your house.

#1 Smell

There was a time when it was rare to hear of someone having allergic reactions to typical scents such as perfume, candles, incense and air fresheners,…

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