The British Columbia Real Estate Association released sales statistics from all B.C. Real Estate boards comparing the MLS® transaction volumes for 2009 and 2010. I have included all charts including the larger Real Estate board areas for the sake of comparison. Click on the image to enlarge.
Kamloops Real Estate MLS Transaction Volume and Statistics by Board Area
BC Housing Market 2nd Quarter 2010 MLS Transaction Sales Statistics
2010 Year To Date MLS Transactions By Board Area Statistics 2nd Quarter Larger Real Estate Board Area
As a home inspector in Kamloops I spend a lot of time using a variety of ladders to do my job. Ladders are dangerous pieces of equipment, if not handled correctly or you are unfamiliar with them. Homeowners in Kamloops should think about a few things before you climb the ladder to perform fall maintenance tasks, and take these safety precautions.
• There should only be one person on the ladder at one time.
• Never leave a raised ladder unattended.
• Be sure all locks on extension ladders are properly engaged.
• All metal ladders should have slip-resistant feet.
• The ground under the ladder should be level and firm.
• Don’t carry objects in yours hands while on a ladder.
• Keep your body centered between the rails of the ladder at all times.
* Inspect your ladder every time before you use it for broken or excessively warn out parts. As someone who has taken the fast ride to the ground from roof height, believe me you don’t want to realize your ladder has a defect too late.
Maintenance Matters
Fall is the time of year to prepare your garden for the fall months ahead. I know with the temperatures still hovering around 30 degrees in Kamloops nobody wants to think about winter or even fall, but your plants and garden already are. Here are some tips to help you with your fall garden prep.
• Bring tropical and other plants inside for the fall.
• Dig and store summer and fall-flowering bulbs.
• Avoid heavy pruning of trees and shrubs going into the fall months.
• Apply a layer of mulch about 2 to 4 inches deep to the floor of the garden.
• Apply mulch or a wrap around the base of bushes and trees to protect them from the cold temperatures.
• Rake up any leaves that may have already fallen.
• Turn off the water supply to your hose tap and irrigation systems.
• Fallize garden furniture if necessary.
• Fertilize to give your garden one last nutrition boost before fall.
• Empty out and bring in any pots that could break in cold temperatures.
• Plant spring-flowering bulbs with their roots down.
Todd Hrycenko, Global Property InspectionsPhone: 250-371-2787 [email protected]
While some mortgage rates have been increasing in recently, overall, interest rates are the lowest we’ve seen in a generation. Kamloops homeowners and first-time buyers getting a mortgage in the months ahead will likely enjoy a rate that will keep their borrowing costs low for the next few years. Indeed, borrowers who have renewed or refinanced a mortgage in the past year now pay interest rates that are nearly one point lower than their previous rate, according to an April report by the Canadian Association of Accredited Mortgage Professionals (CAAMP).
While securing an attractive interest rate may be the top priority for most borrowers, some low-rate mortgages available today offer limited flexibility. For example, “no frills” mortgages offer favourable rates, but may limit your ability to pay off your mortgage sooner. In addition, “quick close” financing deals offer attractive rate discounts, but many require a closing date within 30 days. This may not provide enough flexibility for sellers or buyers.
When it comes to choosing a mortgage, getting a good rate is just the tip of the iceberg. To ensure smooth sailing, you have to be aware of all the other features that may lie below the surface.
The features of a mortgage should fit a homebuyer’s personal goals, both now and down the road. Borrowers need to understand what they’re signing up for – a mortgage is the largest debt most consumers will ever take on.
Below are five tips prospective mortgage holders may consider when choosing a mortgage:
1. Consider an assumable mortgage
A few years from now when you decide to sell your home, your low-rate mortgage could provide an extra selling point. If your mortgage is assumable, meaning it can be transferred to another borrower, it allows the purchaser to take on your mortgage’s terms and payments as part of the sale. This can be an attractive incentive, particularly in a higher rate environment.
2. Review refinancing penalties
Given the low rates available today, many homeowners are weighing the benefits of refinancing. When choosing a mortgage, keep in mind that penalties are often the equivalent of three months’ mortgage payments, or based on an interest rate differential, which is the difference between your current rate and the new rate. If you consider refinancing, a mortgage broker can help you decide whether the long-term savings outweigh the up-front penalties.
3. Evaluate pre-payment options
Many borrowers are taking advantage of low interest rates by accelerating payments on their mortgages. For example, many lenders allow you to double up payments periodically, or make lump-sum payments of up to 20 per cent of the principal once a year. When negotiating your mortgage, make sure you understand the size and frequency of payments your lender allows.
4. Review skip-a-payment options
Some lenders offer an option to skip a payment without penalty, which may come in handy in today’s economy.
5. Consider portability
Many mortgages have a portability feature that allows you to transfer your existing mortgage over to a new property, but not all portability terms are the same. Some lenders allow as long as 120 days to transfer the mortgage, but others only allow for a few days or a week.
Choosing the right mortgage involves considering where you are now, and where you may be three to five years from now. Working with a mortgage professional can help you make sense of the many options available to you.
Ladder Safety
Fall is the time of year to prepare your garden for the fall months ahead. I know with the temperatures still hovering around 30 degrees in Kamloops nobody wants to think about winter or even fall, but your plants and garden already are. Here are some tips to help you with your fall garden prep.
While some mortgage rates have been increasing in recently, overall, interest rates are the lowest we’ve seen in a generation. Kamloops homeowners and first-time buyers getting a mortgage in the months ahead will likely enjoy a rate that will keep their borrowing costs low for the next few years. Indeed, borrowers who have renewed or refinanced a mortgage in the past year now pay interest rates that are nearly one point lower than their previous rate, according to an April report by the Canadian Association of Accredited Mortgage Professionals (CAAMP).