This weekend’s open houses will be held in Brocklehurst & Aberdeen.
Sunday, March 28, 2010: 2085 Holyrood Place, Aberdeen: 11:30-1:00$439,900
This home has 5 bedrooms & 3 full bathrooms. 2,600 square feet of living space. 2 car garage w/ lots of room for all your toys & a large fully fenced yard w/ in ground sprinklers. The living room has high vaulted ceilings w/ floor to ceiling windows & a beautiful view.
Sunday, March 28, 2010: 1824 Fleetwood Ave, Brocklehurst: 1:30-3:00 $334,900
This immaculate home is located close to transportation, schools & shopping. 4 bedrooms& 2 full bathrooms. Located on a 10,570 square foot fenced lot w/ fruit trees. Updates include new flooring, new kitchen counter tops, new furnace in 2003, new roof & hot water tank in 2008.
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This great Aberdeen home has 5 bedrooms and 3 full bathrooms. 2,600 square feet of living space. Two car garage with lots of room for all your toys and a large fully fenced yard with in ground sprinklers. The living room has high vaulted ceilings with floor to ceiling windows and a beautiful view. There is a stunning valley view from the wrap around deck and separate entrance to the basement with suite potential. Located within walking distance of Aberdeen Elementary school and seconds from transportation. Priced at $439,900
Will the new mortgage regulations affect Kamloops real estate? On February 16, 2010 the Government of Canada announced a series of regulatory changes to support the long-term stability of Canada’s housing market. The Government has now provided the following details in relation to these changes.
Effective April 19, 2010Qualifying Interest Rate Guidelines Will Change
Fixed Rate Mortgages of terms less than 5 years and all Variable Interest Rate Mortgages: applications will be adjudicated based on the greater of the 5 Year Bank of Canada Benchmark Rate**, or the actual customer rate (inclusive of any customer discretion).
Fixed Rate Mortgages of terms 5 years or greater: applications will be adjudicated based on the actual customer rate.
This change applies to both conventional and insured mortgages.
The three key changes associated with this announcement are:
Borrowers will need to be able to afford a five-year fixed rate mortgage, even if they choose a mortgage with a shorter duration.
Investors, who want to buy a home that they don’t plan to live in, will have to make a minimum down payment of 20%.
Canadian home owners will only be able to withdraw 90% of the value of their homes in a refinancing, down from 95%.
The good news is that buyers still can purchase a home with 5% down and can still go up to a 35 year amortization. The reason for the changes is the Government of Canada is wanting to make sure that if interest rates go up, purchasers will still be able to afford their mortgage payments. With regards to refinancing your home, the Government of Canada is trying to discourage people from borrowing against their home for a quick fix for their financial problems. They are trying to have home owners use their home as a savings tool and not just an easy way to keep consolidating their debt.
Please call me if you have any further questions on the changes or if you would like to go through a free no obligation mortgage information session. We can look at pre-qualifying you for a mortgage, rate hold guarantees, even refinancing or renewing an existing mortgage. I look forward to hearing from you!
Brenda Colman, Mortgage Consultant, Invis KamloopsP. 250-318-8118 E. ac.sivninull@namlocadnerb
**The Bank of Canada Benchmark Rate is defined as the Chartered Bank – Conventional Mortgage 5-year Mortgage rate, published by the Bank of Canada each Monday.
This immaculate Brock home is located on a very nice street close to transportation, schools and shopping. There are 4 bedrooms and two full bathrooms. Located on a 10,570 square foot fenced lot with fruit trees, vegetable garden and numerous garden sheds. Recent updates in this home include new flooring in the kitchen, bathrooms, laundry room and bedrooms. New kitchen counter tops, new furnace in 2003, new roof and hot water tank in 2008. This home is spotless. There is a single car carport, RV parking and tons of room for a detached shop in the back yard or a pool. Don’t miss out on this great Brocklehurst home! Priced at $329,900
Many Kamloops parents probably wouldn’t think of pulling out of the driveway with the kids unbuckled or letting their four year old take a bike ride without a helmet. As a parent you want to prepare your kids to be as safe as possible, but have you planned to get them out alive in the event of an emergency?
The truth is last year Firefighters in Canada were called to over 50,000 residential fires and a recent study revealed that 70% of Canadians have not yet put together a fire escape plan. Are we really giving our kids a chance in the event of a fire without some basic information about what to do in the case of an emergency?
In addition to properly working smoke alarms, the best defense against a fire is a well-rehearsed, escape plan. Having your family ready for a fire can save precious seconds in the event of a real emergency.
Practice Makes Perfect A fire escape plan should be designed and practiced twice a year. Make the drill fun for the family by practicing with time trials, there’s nothing like a little competitive spirit to drive the efficiency of your escape plan. The Canada Safety Council recommends these steps to prepare for a family fire drill: • Draw a floor plan of your house. • Mark two ways out of each room. • Establish a meeting place outside the house. • Be sure each family member has the plan and knows the escape route. • Post your fire escape plan on the fridge or family bulletin board. • Hold a fire drill for your family once or twice a year. Vary the drills, to practice escaping from different fire sources. • Make sure your baby-sitter understands your fire escape plan. • Everyone should know NOT to re-enter the home.
All Kamloops homeowners should take the time to check all smoke detectors and design an escape plan to get out alive. Test your kids from time to time with an emergency fire drill and keep everyone up to date with the plan to get out alive.
This weekend’s open houses will be held in Brocklehurst, North Kamloops, South Kamloops and Sahali.
Saturday, March 13th, 2010: 659 Valdes Drive, Brocklehurst: 11:30-12:30
5 bedroom home with a 2 bedroom basement suite with a separate entrance. There is separate laundry for the upstairs and downstairs. Recent updates include siding, roof, furnace and air conditioning. There is a detached workshop in the back with drive through access from the front. Single car carport. $379,900
Saturday, March 13th, 2010: 694 Stewart Avenue, North Kamloops: 1:00-2:30
5 bedroom home with a 2 bedroom plus den basement suite with a separate entrance. Enclosed garage with a mechanics pit and additional carport. Open floor plan on the main. All appliances are included. New kitchen in basement suite, includes new tile, newer roof and hot water tank. $329,900
Saturday, March 13th, 2010: 2586 Glenview Avenue, Brocklehurst: 3:00-4:00
3+1 bedroom home with 1 bathroom. Single car carport, huge lot, vaulted ceilings, updates include flooring and paint. Small wired workshop in the back yard. Tons of room for a detached shop. Covered deck and second patio. Tons of potential! $319,900
Sunday, March 14th, 2010: 620 Monarch Drive, Sahali: 11:30-1:00
3 bedrooms up rancher with 2 bedrooms down. Can be easily converted to a daylight inlaw suite. Fenced yard has only one neighbour close by for a more private feel. All appliances are included except main floor washer & dryer. This home has a gas fireplace & central air. Owner occupied. $449,900
Sunday, March 14th, 2010: 581 Monarch Drive, South Kamloops: 1:30-3:00
Full duplex in a desirable neighbourhood in South Kamloops. 3 bedrooms and 1 bathroom on each side. Enclosed large garage, rec room and large fence yard on each side. Some updates include flooring and electrical upgrades. $409,900
Full duplex located in a desirable South Kamloops neighbourhood cul-de-sac. 3 bedrooms, 1 bathroom, rec room, enclosed garage and large fenced yard on both sides. Current rent is $1,300 and $900 (long time tenants – last rent increase in 2005) plus utilities. Upgraded electrical to 100 amps each side. Great revenue property. $409,900
This weekend’s open houses will be held in Brocklehurst, North Kamloops and Juniper Heights.
Saturday, March 6th, 2010: 694 Stewart Avenue, North Kamloops: 11:30-12:30
5 bedroom home with a 2 bedroom plus den basement suite with a separate entrance. Enclosed garage with a mechanics pit, additional carport. Open floor plan on the main. All appliances are included. New kitchen in basement suite, new tile, newer roof and hot water tank. $329,900
Saturday, March 6th, 2010: 1018 Surrey Ave, North Kamloops: 1:00-2:00
3 bedroom bungalow on nice street in North Kamloops. Some updated windows, nice private yard. Close to shopping, transit and schools. Newer roof and all appliances included. $239,900
Sunday March 7th, 2010: 1805 Hycrest Place, Brocklehurst: 11:30-1:00
Great 3+1 Bedroom, 2 bathroom home in a nice Brock neighbourhood. Updated furnace, hot water tank and some windows. Single car carport, large 10,890 square foot lot with numerous fruit trees. Within seconds of Brock shopping centre, transportation. $319,900
Sunday, March 7th, 2010: 2665 Qu’appelle Blvd., Juniper Heights, Kamloops: 1:30-3:00
Beautiful Juniper Heights home with 3+1 bedrooms and 3 bathrooms. Situated on a 10,000 square foot lot that is flat, usable and fully fenced. Very close to the elementary school and transportation. RV parking, hot tub, in ground sprinklers and 220 power to the garage. $419,900