Real Estate Blog

Canadian Building Permits - February 2017

As per the most recent BC REA Economics Now Update, it appears that construction intentions are cooling off significantly in BC's biggest markets... but have no fear! We may see fewer new builds popping up this year, but the Kamloops real estate market is getting hotter and hotter by the day! The low inventory that we are seeing in Kamloops and the surrounding area means that new listings are selling very quickly and at extremely competitive prices.

Have a read below for the numbers behind the BC REA news release:

The total value of Canadian building permits decreased 6.6 % from November to December, the result of declining permit activity across all commercial and residential sectors. In BC,  permit

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Congratulations! After endless hours of properties browsed and homes viewed, you've just sealed the deal on the home you've always wanted! Now that you've got your dream home in the bag... what's next??!

THE MOVE

Now that your deal has gone firm, your next step is the move! Now, whether you are moving from your old residence to a new one, getting ready to settle into your first home after renting FOREVER, or getting your new investment property ready for rentals, moving can be busy and chaotic for everyone!

To help make sure you don't miss anything during the moving process, here are a couple of tips from Team Cavaliere to keep you on track:

1) Before you do any packing, make arrangements to arrange the installation of services such as BC

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The British Columbia Real Estate Association (BCREA) has just released the numbers for real GDP growth of the United States for the final quarter of 2016 as well as for 2016 as a whole. These numbers were weaker than expected, at 1.9% growth in Q4'2016 and 1.6% growth for the year; numbers that were influenced by a variety of factors in the U.S.

Notable in this report is the prediction that this trend will not continue in 2017. Most economists are expecting the U.S. economy to achieve a growth rate of about 2.2% this year.

The pace of American economic growth could be a major factor contributing to the B.C. housing market in 2017. While an increase in growth in the U.S. usually means good things for us British Columbians, a stronger pace of

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Happy New Year everyone! We hope that you have all had a happy and healthy start to 2017!

Back at the end of last year, we shared Part I of our discussion on the new B.C. HOME Partnership Program, where we talked about the potential negative effects of the new government initiative. As the Program officially kicked off yesterday, we wanted to make sure you have all the facts before making a move into the market - and that includes the good stuff too!

So, let's have a look at what we believe are some of the most significant benefits to the B.C. HOME Partnership Program:

1) The Program will enable people to enter the market more quickly.

One of the biggest hurdles faced by first-time home buyers is scraping together enough cash for the

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Though the Christmas holidays have come and gone, you don’t have to stop your gift giving just yet! The most amazing gift that you can still give this year is the gift of life – by donating blood!

Thanks to your generous donation, a child with congenital heart failure will make it through surgery, a car crash victim will survive disastrous and life-threatening trauma, and a leukemia patient will be kept alive long enough to find the stem cell donor that will save his life. These are only a couple examples of the incredible impact your blood donation can have on the lives of so many Canadians!

At Team Cavaliere – River City Realty, we have several team members who regularly Give Life by donating blood, and we want to invite you all to join us in

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Amongst all of the chatter circulating about the B.C. government's HOME Partnership Program, we thought we would chime in with a few thoughts of our own. While it’s easy for us to simply agree with the government's move to implement this program because we are in the real estate industry, we believe that before we can agree, we must first educate ourselves and our clients on the big picture: an all-encompassing view of both the pros and the cons of this decision.

While I do very much support the B.C. Real Estate Association as well as this government initiative, I have decided to take a different approach to discussing this topic:

What are the negatives?

Negative #1:

Long-term second mortgage = increased potential for buyers to over-extend

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The Kamloops Real Estate Board residential sales statistics for November 2016 have been released, showing an increase in residential sales value of 12.3% compared to November of 2015.  The number of single family residential properties sold was identical to last year’s at  135 units sold; however, fewer homes were listed and the number of active listings was lower as well.

Though active listing numbers were comparatively lower than those of 2015, the   results do follow the trend that we see annually as we move from the busy summer months into the cold Kamloops winter, and the decrease is proportional to the level of activity that we have seen throughout 2016.

The Kamloops Median Residential Price for single family homes landed at $417,300, above

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As we approach the 4th Quarter of 2016 there is lots of chatter about the perceived slowdown in the Canadian Real Estate market. In reality, Kamloops continues to set records unlike the suggestion that our national, provincial, and municipal economies are slowing down. I’d really like to focus this post on sharing some of the reasons why I believe that things are actually looking really good for us in Kamloops and generally all Canadian when it comes to real estate and the economy.

On November 30th, the British Columbia Real Estate Association's Chief Economist, Cameron Muir, alongside his colleague, Economist Brendon Ogmundson, released a quarterly summary full of very positive and encouraging numbers. For example, following a 1.3% decline in the

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First time home buyer? Seasoned real estate investor? Average person hoping to learn as much as possible about the real estate industry so that when you're FINALLY ready to buy a home you'll be able to do it right? If you feel like any of these descriptions relates perfectly to you (number 3 is personally right up my alley), the next few minutes of reading will be worth your while!

As adults, our days and weeks are often spent working, studying, exercising, cooking, cleaning, and maybe (just maybe!) getting enough sleep to stay up until 9 o'clock. As we live our busy lives, we often don't have time to stay up to date on all of the goings-on around us - so when we come into some unexpected money, or our kids leave home to live on their own, or life

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Kamloops is rich with rental options, but there's no doubt that buying a home in this rapidly growing city is a very advantageous move. Between 2006 and 2011, Kamloops witnessed a growth rate of 6.6% and is expected to continue growing. This demand has led to the development of a wealth of beautiful new properties in the city, as well as increased variety in property types.

Spectacular, trendy condos and townhomes are being crafted throughout Kamloops, as are stunning new construction homes. Meanwhile, Kamloops' more established ranchers and bungalows are only appreciating, with the average sales price for the city leaping upward. You might be thinking, "If it's a seller's market, why should I buy?" Well — the term "seller's market" can be a little bit

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