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Posts Tagged ‘market’

The most expensive City is Vancouver

Tuesday, January 26th, 2016

Home Costs 2015we are only 3 hours away but so much more affordable, Kamloops a great place to call home.

federal government officially announced changes to the minimum down payment required on new home purchase.

Friday, December 11th, 2015

 

Here is what you need to know:
Today, the government announced its intent to raise the minimum down payment requirements on homes valued over $500,000. Properties below $500,000 will not be affected. Requirements will remain at 5 % down payment for homes under 500,000.

Any amount over $500,000 will require a 10 % down payment. For example a $700,000 home will require a $45,000 down payment, 5 % on $500,000 and 10 % down on the remaining $200,000.

The announced changes will take effect on February 15, 2016.

The purchase closing date can be after Feb 16th 2016

The minimum down payment for homes  $1 million and over remains unchanged at 20%
The government cites its desire to “contain risks in the housing market” as the
reason for its decision.

Home Sales up 15% in the first 10 months of 2015

Friday, November 6th, 2015

Sales of Kamloops homes up 15% from 2014

Sales of residential units in Kamloops were down in October, a slip in what has otherwise been a year of double-digit sales increases.

The number of homes sold last month, at 202, is down about five per cent from the same month in 2014.

Sales in the city are up by 15 per cent through the first 10 months of the year. The median price for a single-family home in Kamloops came in at $367,000.

Cyndi Crossley, president of Kamloops & District Real Estate Association, said one trend that will affect both buyers and sellers is a decline in inventory. Residential listings on MLS are nearly 10 per cent lower than a year ago.

She said other markets, including Chilliwack, are experiencing the same decline in listings — a factor that can lead to increasing prices and a so-called sellers’ market.

Another notable aspect for the month was sale of 10 units valued at more than $600,000.

“That’s not what the Kamloops market is typically made of,” she said. “That should be encouraging for those with higher-priced homes.”

The busiest slice of the market is in the $320,000 to $360,000 range.

Spacious Rose Hill Rancher

Monday, June 29th, 2015

Open the door to your new home. Exclusive High Country Estates. 1 acre private lot backing onto green space, 20×40 inground pool, 3 decks, hot tub, gardens & magnificent views of city, river & mountains. This spacious rancher with daylight walk out basement & park like backyard offers space & privacy yet is only 10 mins to town. Main floor with updated kitchen, granite counter tops, walk in pantry & breakfast nook. Dining area open to spacious living room with built in cabinets, picture windows & 28′ deck with new glass railings. 3 bedrooms including master with w/i closet & sliders to deck with morning sun. Laundry & 2 piece bath with access to garage. Walk out basement features large family room, wet bar, fireplace with heatilator, office or music room with double insulated glass doors for soundproofing, bright bedroom, bathroom with sauna, hobby room, workshop & storage. Lower level deck has a built in hot tub. 26×22 garage, large driveway238A8617.238A8621

Linda Klein Kamloops Real Estate Weekly Mortgage rates for week of June 15th 2015

Tuesday, June 16th, 2015

DLC Weekly Rate Minder courtesy of Starr Webb

Terms Bank Rates Our Rates
6 Month 3.14% 3.10%
1 YEAR 2.89% 2.29%
2 YEARS 2.84% 2.19%
3 YEARS 3.39% 2.25%
4 YEARS 3.89% 2.54%
5 YEARS 4.64% 2.54%
7 YEARS 5.30% 3.39%
10 YEARS 6.10% 3.84%
Rates are subject to change without notice. *OAC E&OE
Prime Rate is 2.85%
Variable rate mortgages from as low as Prime minus 0.65%

Weekly Mortgage rates for May 18th 2015

Wednesday, May 20th, 2015

Courtesy of Starr Webb DLC Weekly Rate Minder

Terms Bank Rates Our Rates
6 Month 3.14% 3.10%
1 YEAR 2.89% 2.29%
2 YEARS 2.84% 2.19%
3 YEARS 3.39% 2.34%
4 YEARS 3.89% 2.54%
5 YEARS 4.64% 2.54%
7 YEARS 5.30% 3.39%
10 YEARS 6.10% 3.84%
Rates are subject to change without notice. *OAC E&OE
Prime Rate is 2.85%
Variable rate mortgages from as low as Prime minus 0.65%

Kamloops Real Estate Linda Klein CMHC hikes premiums June 1st

Saturday, April 4th, 2015

Courtesy of Starr Webb – Dominion Lending

CMHC Hikes Premiums Again

If you plan to buy a home with less than 10% down and get CMHC insurance, get ready to pay another $450 per $100,000 of mortgage.

That’s what CMHC’s just-announced premium hike amounts to. Click here for details

It’s the second time in about a year that CMHC has raised its fees on homeowners. The new premiums are a 14-15% increase over today, or 31% if you compare them to CMHC’s fees last year.

CMHC’s move targets only those putting down less than 10%, which amounts to 56.8% of CMHC-insured borrowers, as of CMHC’s latest reported quarter. The company says the decision is not because of an increase in borrower risk.

“For the average Canadian homebuyer who has less than a 10% down payment, the higher premium will result in an increase of approximately $5 to their monthly mortgage payment,” the agency said in its release today.

“CMHC completed a detailed review of its mortgage loan insurance premiums and examined the performance of the various sub-segments of its portfolio,” said SVP of Insurance Steven Mennill. “The premium increase for homebuyers with less than a 10% down payment reflects CMHC’s target capital requirements which were increased in mid-2014 (to 220% of the minimum OSFI requirements).”

We’ll probably know by next week if Genworth and Canada Guarantee follow CMHC’s lead. They did last time and there’s a fair chance they will again. A Genworth spokesperson said, “We are reviewing [CMHC’s announcement] and expect to release our official announcement early next week.”

Some quick notes for homebuyers:

  • If your loan-to-value is over 90% and your lender submits your complete application to CMHC before June 1, 2015, you’ll pay the old (cheaper) CMHC fees. It doesn’t matter when your mortgage closes.
  • Submitting a pre-approval as opposed to a complete application will not hold the old insurance premiums.
  • If you borrow your down payment, the fee is another 5 basis points (0.05%) higher, or 3.85% of the mortgage amount.
  • If you live in Manitoba, Ontario and Quebec, you also have to pay provincial sales tax on your default insurance. That sales tax cannot be rolled into the mortgage.

Kamloops Real Estate Linda Klein Kitchen ideas

Wednesday, April 1st, 2015
KITCHEN RENO”SHere are four “must-do” updates that ensure your remodeled kitchen will earn compliments from anyone who enters.

1. Faucet Facelift. Because of its constant use, updating the faucet will immediately improve the function and look of your prep space. Create a chic statement at the sink.

2. Amp up Accessories. Much like fashion, accessories can make a room. Hardware is the finishing touch that makes your space feel polished, but also serves a purpose.

3. Enhance the Lighting. Lighting is a critical element in kitchen design, both for its decorative and functional benefits. It can also make the space look roomier and more elegant. Install pendants over an island or countertop where the low-hanging fixtures won’t interfere with traffic flow.

4. Add Personality. Adding something pretty like a bouquet of flowers, new linens, or a bright new tea pot will bring life onto your space. You can also jazz up your kitchen with lively artwork. Whether it’s a professional painting or fun vintage posters, artwork helps complete your renovation.

Before starting demolition on your kitchen remodel, make sure the design is a reflection of you. By following these simple steps, not only will you have a kitchen that complements your lifestyle, you will also draw plenty of compliments from family and friends. So why not take your kitchen from make-do to magnificent.

Courtesy of Cliff Brauner Pillar to Post Inspections

Kamloops Real Estate Linda Klein cut water costs

Wednesday, April 1st, 2015

CUT WATER COSTS

Up to half of water consumed in your home is used in the bathroom. Here are some easy ways to save hundreds of dollars – and gallons of water from going down the drain.

Slow the flow. New toilets are equipped with water-saving, low-volume flushers. Have an older toilet? Save by filling a quart-sized plastic bottle with water and placing in tank. Flow should be reduced by 40%.

Cool the water. If your water heater is set higher than 120degrees F., water is hotter than you need for showers or hand washing. For every 10 degrees you go down, you save up to 5%.Check for leaks. A leaky toilet can waste 250 gallons of water in a month. Test a leak by dropping some food coloring in the tank without flushing. If the color shows up in the bowl, you have a leak.

Courtesy of Cliff Brauner Pillar to Post home inspections

Kamloops real estate Linda Klein Easter weekend family activity

Wednesday, April 1st, 2015

Home | BC Wildlife Park Kamloops

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