Call 250-682-0158 Login or Sign Up

Posts Tagged ‘sell’

APRIL WAS A BUSY MONTH FOR B.C. REAL ESTATE

Monday, May 16th, 2016

April was another record-breaking month for home sales in British Columbia. There were 12,969 sales through the MLS of BCREA last month, beating March’s 12,560; and up 30.3 per cent from April 2015.

“Housing demand is exceptionally strong across the southern regions of the province,” said Cameron Muir, BCREA Chief Economist. “Consumers appear to be particularly active in the Vancouver Island, the Fraser Valley and the Thompson/Okanagan regions.”

The average MLS price was up 17.2 per cent year-over-year to $743,640 and the total value of all home sales surged 52.7 per cent to $9.64 billion.

Linda Klein Kamloops Real Estate Mortgage rates for week of March 16th 2015

Tuesday, March 17th, 2015

DLC Weekly Rate Minder courtesy of Starr Webb

Terms Bank Rates Our Rates
6 Month 3.14% 3.10%
1 YEAR 2.99% 2.69%
2 YEARS 2.94% 2.24%
3 YEARS 3.44% 2.49%
4 YEARS 3.94% 2.59%
5 YEARS 4.79% 2.69%
7 YEARS 6.04% 3.39%
10 YEARS 6.50% 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%

DLC Weekly Rate Minder

Please note that rates shown above are subject to change without notice. The rates shown are  posted rates and the actual rate you receive may be different, depending upon your personal financial situation. “Some conditions may apply.

Linda Klein Kamloops Real Estate, Property assessments as a measure of value

Thursday, February 5th, 2015

When homeowners receive provincial Property Assessment notices, some will smile and have a bit more spring in their step, feeling the assessed value is accurate or perhaps even overly positive. Others will wilt and lament a modest gain or even a decrease in the assessed value over the previous year or period. Reactions will of course vary factoring in the potential increase in property taxes that tends to come along with stronger assessments.  The reality, setting aside taxation concerns, is that neither parties’ emotions should be tied to the ‘value’ printed on these notices. 

A provincial property assessment is an approximate value based on the (broadly) estimated market value as of the previous years. There is a lag time between the estimation of valuation and delivery of the envelope. It also fails to involve a formal site visit or viewing of the inside of the home to consider either significant upgrades or significant deterioration.

To put this in perspective, few lenders will work with a detailed official appraisal report that is even 90 days old.  Most prefer a report completed with 30 days, as markets can move significantly month over month.

For these reasons, among others, a provincial property assessment should not be relied upon as a totally concrete indicator of value for the purposes of either purchase, sale, or financing.

Always enlist a licensed professional, or perhaps even two or three, in order to get a timely and detailed appraisal of current market value. This will provide a much more accurate reflection of current market values reflecting recent comparable sales, value for zoning, renovations and/or other unique features to the property.  An appraiser is an educated, licensed, and heavily regulated third party offering an unbiased valuation of the property in question.

Think of your provincial property assessment as something akin to a weather forecast spanning far larger and more diverse areas than the unique ecosystem that is your neighborhood, street, and specific property.

The forecast may call for rain in your city, yet you might have a ray of sunshine radiating upon your street specifically.

 

 

 

 

The importance of mortgage portability

Wednesday, November 5th, 2014

 

Selling your current home and moving into a new one can be stressful enough, let alone worrying about your current mortgage and whether you’re able to carry it over to your new home.

Porting enables you to move to another property without having to lose your existing interest rate, mortgage balance and term. And, better yet, the ability to port also saves you money by avoiding early discharge penalties.

It’s important to note, however, that not all mortgages are portable. When it comes to fixed-rate mortgage products, you usually have a portability option. Lenders often use a “blended” system where your current mortgage rate stays the same on the mortgage amount ported over to the new property and the new balance is calculated using the current interest rate.

With variable-rate mortgages, on the other hand, porting is usually not available. As such, upon breaking your existing mortgage, a three-month interest penalty will be charged. This charge may or may not be reimbursed with your new mortgage.

 

Porting conditions
While porting typically ensures no penalty will be charged when you sell your existing property and buy a new one, some conditions that may apply include:

  • Some lenders allow you to port your mortgage, but your sale and purchase have to happen on the same day. Other lenders offer a week to do this, some a month, and others up to three months.
  • Some lenders don’t allow a changed term or force you into a longer term as part of agreeing to port your mortgage.
  • Some lenders will, in fact, reimburse your entire penalty whether you’re a fixed or variable borrower if you simply get a new mortgage with the same lender – replacing the one being discharged. Additionally, some lenders will even allow you to move into a brand new term of your choice and start fresh.
  • There are instances where it’s better to pay a penalty at the time of selling and get into a new term at a brand new rate that could save back your penalty over the course of the new term.

Courtesy of :Starr L. Webb AMP
Franchise Owner / Mortgage Expert

Dominion Lending Centres Western Lending Source

Phone: 250-574-0115

 

Kamloops Real Estate Linda Klein mortgage rates for week of July 21st 2014

Wednesday, July 16th, 2014
July 21st 2014This edition of the Weekly Rate Minder has the latest, best rates for Canadian mortgages. At Dominion Lending Centres, we work on your behalf to find the mortgage that suits your needs. Best of all — our service is free.* It’s the selected lender that pays us and YOU get the best rate. *(O.A.C., E.&O.E.)• Our Best National Rates
• Explore Mortgage Scenarios with Helpful Calculators on http://www.starrwebb.ca
Terms Bank Rates Our Rates
6 Month 4.00% 3.95%
1 YEAR 3.09% 2.89%
2 YEARS 3.04% 2.59%
3 YEARS 3.44% 2.79%
4 YEARS 3.94% 2.77%
5 YEARS 4.79% 2.99%
7 YEARS 6.04% 3.79%
10 YEARS 6.50% 4.39%
Rates are subject to change without notice. *OAC E&OE
Prime Rate is 3.00%
Variable rate mortgages from as low as Prime minus 0.55%

 Please note that rates shown above are subject to change without notice. The rates shown are  posted rates and the actual rate you receive may be different, depending upon your personal financial situation. “Some conditions may apply. Rates may vary from Province to Province. Rates subject to change without notice. *O.A.C. E.& O.E.” Check with your Dominion Lending Centres Mortgage Professional for full details and to determine what rate will be available for you.

*O.A.C., E.& O.E.

 

Easy ways to make your home more attractive to potential buyers. Kamloops

Monday, July 7th, 2014

Getting ready to sell? Move your property fast – and for the highest selling price possible – with these easy, affordable staging tricks. These deal-sealing changes will make your home attractive to the largest pool of potential buyers, and the best part is, you can start at any stage in the game. Who knows – you may love your home’s new look so much that you decide not to list after all!

1 Paint!

Dollar for dollar, a fresh coat of paint gives you more bang for your decorating buck than anything else. Even if your current palette is relatively new, any scuffs or wear marks will channel an unkempt vibe. And an unusual colour choice – even if the height of fashion – may limit your home’s appeal. So break out that roller and slap on a couple coats of crowd-pleasing warm white or sand paint.

2 Improve the lighting
Replace any dated light fixtures ASAP. How can you tell if it has to go? If it’s over 15 years old and looks it – yet isn’t a vintage (50-75 years old) or antique piece (older) – it should probably go. “Retro” is not something most homebuyers are looking for. You don’t need to break the bank, just head to IKEA or Canadian Tire.

3 De-clutter
Take the collectibles off the mantel, put the mismatched armchair into storage (or better yet, donate it) and pare your closets down to what you’re actually wearing this season, packing away the rest. Ideally, all this extra stuff would head to charity (if in good, saleable condition), the garbage dump, or into storage. The more you store onsite, the more cluttered and small your home appears.

4 Give dated bathrooms a facelift
A nice bath helps sell a house but, don’t invest in a total renovation. Renos are costly, and you won’t recoup your costs unless you find your exact décor doppelganger. Bring an out-of-date bath up to speed with gleaming white walls whether via a fresh coat of white bath and kitchen paint or ceramic tile and new lighting (Home Depot excels at affordable, stylish bathroom vanity lighting). Buy neutral new shower curtains, a simple new bath mat and vanity set, and have fresh flowers in the room during open houses.

5 Take down curtains
Dated window treatments need to come down, pronto (if it’s over 10 years old, get rid of it). If privacy isn’t an issue, just leave the windows bare to maximize natural light and make the room’s dimensions seem more generous. Otherwise, buy basic-issue cotton or linen drapes. Always tie drapes back during viewings and open houses.

6 Put up mirrors
Make small rooms appear bigger and dark rooms seem brighter by adding an attractive wall mirror. A boxlike dining room will benefit from a leaning floor mirror  and an entrance way more welcoming with a console mirror.

7 Update porch hardware
Increase your home’s curb appeal by updating the hardware on your front porch. Buy a doorknocker or bell, mailbox, kick plate, doorknob and lockset in a set or in complementary styles. Brushed nickel is a neutral finish that will never date, while oil-rubbed bronze is another favourite.

8 And the porch light
Update your porch light to coordinate with the new hardware, if needed. They don’t have to be an exact match or even come from the same period, but the finishes and styles should look pleasing together.

9 Spiff up the front yard
Refresh your front yard according to the season. In spring, summer and fall, trim back dead plants and foliage and plant attractive annuals or perennials in flowerbeds. In winter, keep the walkway shoveled and cut back any tree or shrub branches damaged by heavy snowfall. A pair of planters flanking the front door and filled with seasonal arrangements instantly conveys pride of ownership.

10 Tend the backyard

Simple fix-its will make the most of your existing yard layout. Replace any damaged boards on your deck or fence, and apply a fresh coat of paint, or stain and sealant if the finish needs it. Weed and groom your garden and add some perennials for colour when in-season. If kids’ toys are taking over the space, put some in storage. Think “tidy,” “update” and “refresh”: never do anything costly or major like adding a swimming pool or pond, which may put off potential buyers.

Common Home Buyer Mistakes, Kamloops real estate

Saturday, July 5th, 2014

Worried about making a mistake when buying your first home? You’re not alone. Check out the most common mistakes made by first time home buyers. And not to worry – we can help!

$2.4+million has been made available to tackle homelessness in Kamloops

Saturday, July 5th, 2014

$2.4 million for Housing First in Kamloops

More than $2.4 million has been made available to tackle homelessness in Kamloops.

The funding, announced by Kamloops-Thompson-Cariboo Cathy McLeod on Thursday, July 3, is part of implementing Housing First, an evidence-based approach to end homelessness.

McLeod said Housing First is the cornerstone of the government’s Homelessness Partnering Strategy (HPS).

She said it aims to stabilize the lives of the homeless for the long-term by first moving them into permanent housing and then providing additional support for underlying issues, such as addiction and mental health.

The end goal, McLeod said, is ensuring the homeless become self-sufficient.

“Through this new approach, we can move out of crisis mode in terms of managing homelessness and work towards eliminating it altogether,” McLeod said.

The City of Kamloops is receiving the funding over five years to support projects in the community that prevent and reduce homelessness, including projects that address the needs of the Aboriginal homeless population.

“We greatly appreciate the federal government’s decision to renew the Homelessness Partnering Strategy for a five-year period,” said Carmin Mazzotta, social and community development supervisor with the City of Kamloops.

“Housing First is a proven approach, as demonstrated by the Mental Health Commission of Canada’s At Home/Chez Soi project.”

Added Louise Bradley, president and CEO of the Mental Health Commission of Canada: “A house is so much more than a roof over one’s head. It represents dignity, security, and, above all, hope.”

The Housing First approach came into effect on April 1 and is being introduced gradually across the country over the next two years, with specified funding targets, taking into account varying capacity and resources among communities.

On April 8, the Mental Health Commission of Canada (MHCC) released the final report of the At Home/Chez Soi project.

It was the largest study of its kind and provided strong evidence that Housing First is an effective way to reduce homelessness.

Over the course of the MHCC study, an average of 73 per cent of participants in the Housing First group remained in stable housing, compared to 32 percent for the group receiving usual care.

The study also showed Housing First is a sound financial investment that can lead to significant cost savings.

For those participants that were the highest users of emergency and social services, every $10 invested led to an average savings to government of $21.72.

Linda Klein Kamloops,Home improvements windows and doors

Wednesday, July 2nd, 2014
Home Improvement – Windows & Doors
 Linda Klein of Royal LePage Westwin Realty- Kamloops
800 SEYMOUR Kamloops, BC, V2C2H5
Powered by Imprev 

Sahali Townhouse with view of Kamloops

Wednesday, June 25th, 2014

Welcome home. The perfect “Townhouse”. This 1 bedroom and den with fabulous views is within walking distance to downtown, hospital and TRU. Complex and landscaping are very well cared for. This bright open home offers a large entrance. Kitchen with eating bar and pot rack. Dining area with French doors opening to covered deck. Enjoy the stunning river, City and park views. Living room with corner gas fireplace as well as double doors to den/office/formal dining room or guest room. Master bedroom is spacious with lots of closet space and cheater ensuite. Large laundry room has built in storage. This unit is close to mail boxes and entrance to secure underground parking. 2 large stalls. 2 small pets allowed, rentals at capacity.

The data included on this website is deemed to be reliable, but is not guaranteed to be accurate by the Kamloops Real Estate Board. The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license.
MLS® MLS REALTOR® Realtor