Featured Property: 1927 Englemann Court, Pineview Valley, Kamloops, B.C.

Pineview Valley Kamloops Real Estate 1927 Englemann Crt Beautiful two-storey home located in a quite cul-de-sac in Pineveiw Valley. The main floor features Acadian Walnut hardwood floors, vaulted ceilings, slate fire place, and a bright dining room. The large open kitchen features maple cabinets with a raised eating bar and large nook. There are three bedrooms on the second floor and a four piece bathroom. The 16 X 13 master bedroom has a spacious walk in closet and four piece ensuite. The basement is fully finished with a rec room, den area and fourth bedroom. There is also a four piece bathroom in the basement. This home features central air, heated double garage and is completely landscaped with underground sprinklers.

To view all homes for sale in Kamloops click here.

Featured Property: 461 Garibaldi Drive, Upper Sahali, Kamloops, B.C. $329,900

Sahali Kamloops BC REal Estate 461 Garibaldi Dr Upper Immaculately maintained Upper Sahali rancher with a full basement and great floor plan. There are three bedrooms on the main floor and one bedroom plus a den down. There are two full bathrooms, a large rec room and tons of room in the private back yard. Yard backs on to a community garden and watershed. Recent updates include windows, furnace, heat pump, hot water tank, flooring, paint and much more. There are two fireplaces, one wood on the main and gas down. This home is ready for it’s new family. Located in a desirable area close to schools, Albert McGowan park, transportation and shopping.

To view all homes for sale in Kamloops click here.

Canadian Housing Market to Slow Further in 2011: RE/MAX Reports

This article was posted by the Toronto Sun on December 7, 2010.

The Canadian housing market is likely to cool further in 2011, returning to more normal long-term growth patterns after a decade-long bull run, according to a report by RE/MAX.

The real estate company forecasts housing sales will fall 5% to 441,000 homes this year and remain flat in 2011. Prices however will continue to rise, gaining 7% this year and 3% next as a lack of supply outweighs falling demand, RE/MAX said.

“In terms of resale housing activity, what many are talking about as the new normal is actually a return to the traditional real estate cycle,” says Michael Polzler, the company’s executive vice-president and regional director for Ontario-Atlantic Canada.

“The past decade was truly unprecedented — never before have we experienced a run up that was as strong or lasted as long.”

Record low interest rates fuelled a home buying spree in 2009 that helped pull the Canadian economy out of recession and pushed home sales back to record levels. The market cooled rapidly over the summer as the Bank of Canada began hiking interest rates, though recent data have indicated the market may be stabilizing.

Ample inventory levels, steady demand and moderate growth, both in terms of sales and prices, will characterize the market in 2011, RE/MAX said.

“Looking forward, we see steady improvement in provincial and local economies — which will bode well for housing markets across the board,” says Elton Ash, RE/MAX’s regional executive-vice president of Western Canada. “The relentless drive in the market reminiscent of years past will be gone and instead, we can expect to see more normal, balanced market conditions, with buyers maintaining a slight edge.”

British Columbia is likely to see the strongest sales next year, with Greater Vancouver rising 10%, followed by Victoria at 8% and Kelowna at 6%.

Almost all regions are likely to see increased prices, led by St John’s, N.L., and Labrador with gains of 8% next year.

The value of homes in Greater Vancouver, Kelowna, Regina, Saskatoon, London-St. Thomas, Ottawa, Sudbury and Greater Montreal is also predicted to climb 5%.

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How To Avoid The Most Common Buyer Errors When Purchasing Kamloops Real Estate

contract to purchase buyer mistakes kamloops real estate home saleShopping for a new Kamloops home is an exciting experience. It also can be emotional, time consuming, expensive and comes with a myriad of details. Some buyers get caught up in the excitement of buying a new home tend to overlook some items. Their home purchase turns into an expensive process. These errors generally fall into three areas:

* Paying too much
* Losing a dream home to another buyer
* Buying the wrong home

When you have a systematic plan before you shop, you will be sure to avoid these costly errors. Here are some tips on making the most of your home purchase:

Making an offer on a home without being pre-qualified
Pre-qualification will make your life easier—so take the time to speak with a bank or mortgage broker. Their specific questions in regard to income, debt, etc., will help you determine the price range you can afford. It is an important step on the path to home ownership.

Not having a home inspection
Trying to save money today can end up costing you tomorrow. A qualified home inspector will detect issues that many buyers can overlook. You will have an idea about future repairs that will need to be made to the home and often you will be provided with a general idea of cost for those repairs.

Limiting your search to open houses, internet and newspaper ads
Many homes listed in magazines or newspapers have already been sold by the time the issue comes out in print. Open houses are a good way to start but once you are serious about finding a home a Realtor can provide you with up to date information on new listings that is not readily available to the general public. The public MLS website is 2-4 days behind the system Realtors have access to.

Choosing a Realtor who is not committed to forming a strong business relationship
Making a connection with the right Realtor is crucial. Choose a professional who is dedicated to serving your needs before, during and after the sale. There are a number of part time Realtors that sell Real Estate, would you want a part time surgeon operating on you?

Thinking there is only one perfect house out there

Buying a home is a process of elimination, not selection. New properties arrive on the market daily, so be open to all possibilities. Ask your Realtor for a comparative market analysis. This compares similar homes that have recently sold or are still for sale. This will give you a broader view of the market.

Not considering long-term needs

It is important to think ahead. Will the home suit your needs three to five years from now?

Not examining insurance issues
Purchase adequate home owner insurance. Advice from an insurance agent can provide you with answers to any concerns you may have.

Making an offer with too few subjects
It is important to have subjects in your contract to purchase a home. Typically buyers only think of subject to financing (or first mortgage) and subject to a home inspection. There are also a couple other important terms such as:

  • Searching title to ensure it is free of any encumbrances.
  • Reviewing and approving a Property Disclosure Statement provided by the selling party.
  • Obtaining home insurance or fire insurance.
  • Reviewing and approving a Building Information Request which will show any outstanding permits on a property.
  • If a strata title property reviewing and approving all the strata minutes, bylaws, etc.

Ensure your best interests are protected.

Not knowing all the costs involved
Early in the buying process ask your Realtor and Mortgage broker for an estimate of closing costs. Title insurance and lawyer fees should be considered and many pre-pay responsibilities like property taxes, municipal fees and fuel adjustments must also be taken into account.

Not following through on due diligence
Buyers should make a list of any concerns they have relating to issues such as; crime rates, schools, power lines, neighbours, environmental conditions, etc. Ask the important questions BEFORE you make an offer on a home. Be diligent so that you can have confidence in your purchase.

There are many important steps when purchasing real estate. Click here to review the purchase process.

Click here for a printable Buyer’s guide.

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