Posts Tagged ‘home buyer’
Sunday, February 28th, 2016
Kamloops Named 7th Top Growing City in Canada by U-Haul
Kamloops Named 7th Top Growing City in Canada by U-Haul
Canada’s Tournament Capital is also one of the top growing cities in the country, according to U-Haul.
The moving and storage company has been ranking Canada’s top growing cities, revealing them daily until March 4th.
Kamloops comes in at number seven on the list.
Why move here:
Sunniest City in Canada
Affordable cost of living
Lots of outdoor activities
Excellent transportation and highways in all directions
“Kamloops is a very beautiful, affordable place to live,” said Horace Martin, U-Haul Company of British Columbia President. “It has Riverside Park, a world-class ski resort, and the right mix of big city/small town feel. It’s billed as the Tournament Capital of Canada. There’s no shortage of activities in one of the sunniest cities of Canada.”
For this particular list, growth is determined by the number of incoming one-way U-Haul truck rentals versus outdoing rentals.
According to U-Haul, 53.2 per cent of truck rentals were coming into Kamloops rather than leaving.
Tags: buyer, home buyer, homes, housing, kamloops, kamloops real estate, Kamloops realtor, linda klein, listings, news, Real estate, real estate tips, real estate trends, realtor, trends
Posted in Kamloops events and happenings | Comments Off on Kamloops a great place to live and move to.
Thursday, February 18th, 2016
There are no changes to the first time home buyer exemption limits;
All buyers (whether first time buyers or not) no longer pay PTT on purchases of newly-built homes up to $750,000 in value; note the buyer must be a Canadian citizen or a permanent resident; there is a partial exemption for homes between $750,000.00 and $800,000.00; The newly built home exemption will only apply to people who actually occupy the home as their principle residence for a year after purchase. (relatives do not qualify)
PTT has changed so that there is now a 3% tax on amounts over $2,000,000.00. The 3% tax is only paid on the amount over $2,000,000.00, not the full price.
The existing first time home buyers program for re-sale homes remains unchanged. The threshold remains $475,000 with a partial exemption for homes between $475,000 and $500,000
Tags: building, buy, buying, contstruction, estate, home buyer, houses, kamloops, kamloops real estate, Kamloops realtor, linda klein, realtor, trends
Posted in Buying a Home | Comments Off on Property Transfer Tax and the new BC budget
Tuesday, January 26th, 2016
we are only 3 hours away but so much more affordable, Kamloops a great place to call home.
Tags: estate, home buyer, homes, house, kamloops, kamloops real estate, Kamloops realtor, linda klein, market, Real estate, real estate tips, realtor, trends
Posted in Kamloops events and happenings, Kamloops Real Estate Statistics | Comments Off on The most expensive City is Vancouver
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.
Tags: buyer, buying, home buyer, housing, kamloops, kamloops real estate, Kamloops realtor, linda klein, market, mortgage, real estate tips, statistics
Posted in Mortgage Rates/ information, Real Estate News | Comments Off on federal government officially announced changes to the minimum down payment required on new home purchase.
Friday, November 27th, 2015
| Courtesy of 4Front Mortgages!
Rates Are Rising
After the Liberal majority win, the government of Canada bond yields started climbing, most likely due to the fact the Liberals have larger spending plans.
Variable Rates
Variable rates have gone up. What this means is the discount that lenders give off of the Prime Rate has decreased. A few months ago you could negotiate discounts around .60% – .80% below Prime. Now discounts are around .30% – 40%. This takes the average variable rate you can get to the 2.35% level. Previously at 2.00% a variable was an easy sell. Now, with 5 year fixed rates at around 2.70% the choice isn’t as obvious.
Prime – 2.70%
The Prime Rate, currently at 2.70% may go up earlier than we all thought. With spending promises to keep, combined with a strong US economy it looks as though the long-awaited rate hike could take place in mid-2016. The first rate hike will likely be .25%, which would bring a variable rate to 2.60% (assuming you can still obtain .40% off of Prime), narrowing the gap between fixed rates to a lowly 0.10%, making fixed very appealing now. If you do choose a fixed rate, it is possible that you will qualify for more. Lenders are required to ensure you can afford your mortgage if rates go up and if you’re in a 5 year fixed term that is all the assurance a lender needs.
Additional Considerations for Fixed Rates
Penalties – Penalties from some lenders (mainly banks) can make getting out of a fixed term very punitive. Therefore, if you’re considering a 5 year fixed term but not too sure if you’ll be in the home for the full term consider going with a lender who offers a fair penalty calculation.
3 Years – The average time a first time homebuyer keeps in their property is 36 months. Going with a 5 year term may not be the best option if you’re unsure of how long you’ll need that mortgage for. Yes, you can always move mortgages from one property to another, however it can add some complexity to your application
Historical Considerations – Variable rates have been proven to be cheaper in “the long run”. Yes, math doesn’t generally lie, but what’s good in the long run may not necessarily be good for the next 5 years. |
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Tags: home buyer, kamloops real estate, Kamloops realtor, linda klein, listings, monthly, mortgage, news, Real estate, real estate tips, realtor, statistics, trends
Posted in Mortgage Rates/ information | Comments Off on Variable or Fixed rate Mortgage
Friday, November 6th, 2015
Sales of Kamloops homes up 15% from 2014
By: Cam Fortems in Business, Housing, News November 3, 2015
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.
Tags: home buyer, housing, kamloops, kamloops real estate, Kamloops realtor, linda klein, market, Real estate, real estate trends, selling, statistics
Posted in Kamloops Local News | Comments Off on Home Sales up 15% in the first 10 months of 2015
Wednesday, May 20th, 2015
Courtesy of Starr Webb DLC Weekly Rate Minder
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| 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 |
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| Prime Rate is 2.85% |
| Variable rate mortgages from as low as Prime minus 0.65% |
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Tags: buyer, estate, home buyer, houses, kamloops, kamloops real estate, Kamloops realtor, linda klein, market, mortgage, news, statistics
Posted in Mortgage Rates/ information | Comments Off on Weekly Mortgage rates for May 18th 2015
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%.
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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 |
Tags: buy, home buyer, house, improvements, kamloops, kamloops real estate, Kamloops realtor, linda klein, listings, market, mls listings, Real estate, real estate tips
Posted in Home improvements | Comments Off on Kamloops Real Estate Linda Klein cut water costs
Wednesday, April 1st, 2015
Home | BC Wildlife Park Kamloops
Tags: buyer, buying, events, home buyer, homes, kamloops, kamloops real estate, Kamloops realtor, linda klein, market, Real estate, real estate tips, realtor
Posted in Kamloops events and happenings | Comments Off on Kamloops real estate Linda Klein Easter weekend family activity
Wednesday, April 1st, 2015
DLC Weekly Rate Minder courtesy of Dominion Lending Center
| 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% |
2.59% |
| 7 YEARS |
6.04% |
3.39% |
| 10 YEARS |
6.50% |
3.84% |
| Rates are subject to change without notice. *OAC E&OE |
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| Prime Rate is 2.85% |
| Variable rate mortgages from as low as Prime minus 0.65% |
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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.
- We are Canada’s largest and fastest-growing mortgage brokerage!
- We have more than 2,200 Mortgage Professionals from more than 350 locations across the country!
- Our Mortgage Professionals are Experts in their field and many are ranked among the best nationally.
- We work for you, not the lenders, so your best interests will always be our number one priority.
- We have more than 100 mortgage programs, making it easy to choose the best fit for your unique situation.
- We close loans in all 10 provinces and 3 territories.
- We can process your mortgage in as few as 7 days.
- We are the preferred mortgage lender for several of Canada’s top companies.
- Dominion Lending Centres’ Mortgage Professionals are available anytime, anywhere, evenings and weekends – and we’ll even come to you!
Tags: analysis, home buyer, houses, kamloops real estate, Kamloops realtor, linda klein, mls listings, mortgage, news, real estate tips, real estate trends, statistics
Posted in Mortgage Rates/ information, Uncategorized | Comments Off on Kamloops real estate Linda Klein Mortgage rates for week of March 30th 2015
