MLS Listings, News & Statistics
Here are the statistics for Kamloops and the surrounding areas for March 2010. I have also included the first quarter sales by subarea. Click on the image to enlarge.
Kamloops Real Estate Comparative Analysis by Property Type March 2010
Kamloops Real Estate MLS Activity March 2010
Kamloops Real Estate Sales by Subarea March 2010
Kamloops Real Estate Sales by Subarea First Quarter 2010
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, 2010 Qualifying Interest Rate Guidelines Will Change
The three key changes associated with this announcement are:
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 Kamloops P. 250-318-8118 E. [email protected]**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.
Introducing a new contributor to the blog, Parker Bennett of Rest Assured Home Inspections. Feel free to post any questions here for Parker.
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.
Parker Bennett, Rest Assured Home Inspections P. 250-372-7375 E. [email protected]The Kamloops and District Real Estate Association has released it’s latest statistics. Kamloops residential sales are up significantly over February 2009. The median sales price for Kamloops is also up. In February 2009 the Kamloops and District median residential price was $294,000. For Kamloops only it was $295,000. In February 2010 the median residential sales price for Kamloops and District was $320,000. For Kamloops only it was $334,500. Keep in mind the median price can be skewed by a number of high value property sales. To view the February 2009 statistics click here. Click on the image below to enlarge.
Kamloops Real Estate Comparative Analysis by Property Type February 2010
Kamloops Real Estate MLS Activity February 2010
Kamloops Real Estate Sales by Subarea February 2010