About Linda Klein

MUSIC IN THE PARK SCHEDULE FOR REST OF JULY

July 20      Young Running Canadian      Roots      youngrunning.bandcamp.com
July 21      Class Action      Ska      classactionska.ca
July 22      Headwater      Roots      Rock headwater.ca
July 23      Paul Filek      Pop      paulfilek.com
July 24      The Sturgeons      Folk      facebook.com/TheSturgeons
Scarlett Jane Roots      Rock      scarlettjane.com
July 25      Sabrina Weeks & Swing Cat Bounce      Swing Blues      sabrinaweeks.com
July 26      Zoo Lion      Rock      zoolionmusic.com
July 27      Mike MacKenzie      Blues      Rock mikemackenzie.com
July 28      Whiskey Jane Country      Rock      whiskeyjane.com
July 29      Spencer’s Dirty Matadors      Rasta Cowpunk Blues
July 30      BCLC Midsummer Music Jam starring:
Robyn & Ryleigh      Country Pop      Sisters robynandryleigh.com
Champagne Republic      Funky R&B      champagnerepublic.com
July 31      Glorious Sons      Rock      theglorioussons.com
Performances take place at the Riverside Park Rotary Bandshell each evening, 7:00-8:30 pm, weather permitting

The government has done a lot to try to drive down the housing bubble that’s said to be happening in certain parts of Canada. They introduced new mortgage rules in an attempt to deter new home buyers this year.

The constant growth in house prices has increased the wealth of home owners because home owners’ equity has risen. The investment in property has proved to be quite lucrative for home owners, and this has proved to be quite attractive to new home buyers.

It is shown that in  the last 2 years, 61% of home buyers have made their purchases with down payments less than 20%.

The answer to this question is most likely the low interest rates available now, and that have been available in the recent past. The savings that come with the low mortgage rates available outweigh the cost of mortgage insurance. Low interest rates don’t last forever, and many Canadians are doing what they can to qualify for a low interest mortgages now with the goal of avoiding the risk of seeing the mortgage market enter a high-interest rate cycle.

What does this mean for the real estate market?

Low-interest rates driving home sales are a no-brainer, but what do the recent mortgage trends mean for the real estate market given the new mortgage rules? There is no concrete answer to this question yet. The Financial Post has has been reporting that the new rules have indeed slowed the housing market, but many critics disagree. Preliminary data has shown house prices have not fluctuated, but it is said that sales have slowed.

One thing is for certain, real estate is a cyclical industry. There are periods periods of high activity and periods of low activity. Market’s change from a “seller’s” market to a “buyer’s” market. Low interest rates will always help drive the market, but the new mortgage rules do present home buyers with serious blockage. It is unclear yet to see how things will pan out, but it will be interesting to see how things will develop in Canada’s ever-changing mortgage and real estate market.
By Cristobal Ravazzano

If you enjoy golfing but need a little tune up, give Cody Jackson a call at Sun Rivers 250 571 7888 and book a lesson and don’t forget to tell him his Mom sent you .

Welcome to my Blog

Home Buyers,  I’m here to help you find your perfect home. My website allows you to search for current listings and receive detailed descriptions and photographs.  Customize your search by area, price or property type and receive alerts when listings match your criteria.

Thinking of selling your home?  I will give you expert advice and market your home. Complete my on-line submission form and get recent sales figures of similar properties. Whether you are moving out, moving up or moving away It would be my pleasure to assist you with your real estate needs.

 I’m here to help and I look forward to work with you.

Linda

Welcome to my new blog! I look forward to sharing new and exciting updates about the Real Estate Market and what is happening around town! Stay tuned for new posts coming soon!