Central Okanagan Real Estate Report for Kelowna, West Kelowna, Westbank, Peachland and Lake Country:
Dependably Yours,
Showing posts with label Kelowna Real Estate Agent. Show all posts
Showing posts with label Kelowna Real Estate Agent. Show all posts
Wednesday, January 6, 2016
Thursday, October 8, 2015
September 2015 Real Estate Report For Central Okanagan
Below is a Real Estate Home Sales Report from 2007 to 2015 for the Central Okanagan Region (Peachland, West Kelowna, Westbank, Kelowna and Lake Country).
If you would like more statistics on Kelowna and Area residential sales please call/text me anytime at (250) 808-7700.
Dependably Yours,
Jason Neumann
Wednesday, September 30, 2015
Thursday, September 3, 2015
August 2015 Real Estate Report For Central Okanagan
Below is the August 2015 Real Estate Marketshare Report for the Central Okanagan Region (Peachland, West Kelowna, Westbank, Kelowna and Lake Country).
Below is a Real Estate Home Sales Report from 2011 to 2015 for the Central Okanagan Region (Peachland, West Kelowna, Westbank, Kelowna and Lake Country).
If you would like more statistics on Kelowna and Area residential sales please call/text me anytime at (250) 808-7700.
Dependably Yours,
Jason Neumann
Thursday, July 30, 2015
CMHC To Allow 100% Rental Income Allowances For Legal Suites
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In a bold move Canadian underwriter, CMHC (Canadian Mortgage and Housing Corporation) has announced it will now allow 100% of rental income generated by legally registered suites. Here is the initial breakdown on using this type of rental income:
- The property must be owner-occupied.
- The property being insured can have only two units (i.e., a duplex or a single home with a legal secondary suite).
- Rental income cannot be used if the suite is “illegal/non-conforming” but “legal non-conforming” is okay. (Non-conforming means that the suite was grandfathered in before zoning/regulations restricted such units. You can check with the city to confirm if a suite is legal.)
- The suite must be self-contained with its own entrance.
- Property taxes and heat must be factored into the borrower’s debt ratios (which is currently not the case when using rent from legal secondary suites).
- For existing units, there must be two-year history of rental income from the suite. The maximum rental income allowed for qualification is a two-year average of the unit’s rent.
- For new units, a market rent appraisal can be accepted if an appropriate vacancy rate has been applied to the estimated rental income.
- Mortgage applicants must “demonstrate a strong history of managing credit” with a minimum credit score of 680.
For more on this new CMHC initiative please visit: Canadian Mortgage Trends
If you are looking for a referral to a terrific local Okanagan based Mortgage Broker please call or text Jason Neumann of RE/MAX Kelowna at 250.808.7700
Dependably Yours,
Jason Neumann
Friday, September 2, 2011
Century 21 Assurance Realty New Downtown Kelowna Location
Location! Location! Location! You have heard it said many times before and where a brokerage decides to situate itself is no exception. Century 21 Assurance Realty Ltd. is moving to 251 Harvey Road which is literally across the bridge. I am very excited to see the renos completed and move into out new downtown location in early 2012. Visit our office website at: Century 21 Kelowna
Monday, March 22, 2010
The Dangers and Pitfalls of Overpricing Your Home
There are potential dangers and pitfalls when it comes to pricing your home in any kind of real estate market. Sellers can be reluctant to price their home in line with the marketplace as they feel they may be giving away too much of their home equity. The reality is pricing your home right from the start will get the net result you are looking for as a seller. Here are some of the reasons why pricing your home at the current market value is so very important:
Potential buyers typically will skip looking at your home as they think it is out of their price range.
Buyers comparison shop when considering a home purchase. When a buyer compares an overpriced home versus one that is priced at market value it will likely convince them to place an offer on the well priced property instead of yours.
Lenders today will order an appraisal prior to funding a mortgage as part of their lending criteria. Ultimately, it is futile to price a home for more than it's worth!
Properties that have been on the market for long extended periods of time tend to gain a reputation of being "stigmatized" as buyers will question why it has been on the market for so long. Perception is a key factor in how a seller's home is viewed by the average home buyer.
Real estate agents when first seeing an overpriced listing hit their "Hot Sheets" may skip over showing it as the price shows little motivation by the seller. Buyer's agents are always keen on getting their clients through the doors of a well priced home first in order to give their clients first crack at getting the home of their dreams.
The longer a listing stagnates on the market the more likely it will sell for less than had it been priced right in the first place.
These are just some and by no means all the reasons why you should consider what the market is doing when it comes to pricing your home. Your local real estate professional is there to help you get your home sold for the most amount of money in the shortest period of time. After all, doesn't a quick sale mean less interruption to your life and allow you to start planning for where you want to move to next?
Sincerely,
Jason Neumann, REALTOR®Century 21 Assurance Realty Ltd.
Cell: (250) 808-7700
Office: 1-888-301-2121
KelownaRealEstateNews.com
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Monday, February 8, 2010
Transport Canada - Check in at your own risk!
A hilarious spoof on Transport Canada and security protocols at airports...Sincerely,Jason Neumann, REALTOR®
Century 21 Assurance Realty Ltd.
Cell: (250) 808-7700
Office: 1-888-301-2121
KelownaRealEstateNews.com
Follow me on Twitter
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Tuesday, December 29, 2009
Winter Serenity in the Okanagan...
A moment in time to appreciate and drink in...Merry Christmas and Happy New Year!Sincerely,Jason Neumann, REALTOR®
Century 21 Assurance Realty Ltd.
Cell: (250) 808-7700
Office: 1-888-301-2121
KelownaRealEstateNews.com
Follow me on Twitter
My Facebook Page
Network on Friendfeed
Sunday, April 5, 2009
How To Market Your Home Effectively
What's Involved in Marketing Your Home
In today's fast-paced, high-stakes marketplace, it takes know-how to sell a home. That's why most sellers enlist the services of a REALTOR® - a professional who has the qualifications, experience, skills, time and knowledge to provide the advice and services needed.
A REALTOR® will market your home to your best advantage. He or she will help you set a price that reflects the true value of your home under the current market conditions. They will also explain the selling process and help you close a deal.
But even before you enlist the help of a REALTOR®, it's a good idea to try to understand the steps involved in making a successful sale.
Article Courtesy of OMREB
Sincerely,
Jason Neumann
Sunday, March 1, 2009
Your home is more than just a listing!
This topic is one that I take deadly serious and that is how a home is marketed! I am a 100% dedicated online real estate agent and believe in the power of online marketing. That being said, there is so much at stake for Sellers and they need to be assured that their interests are being well represented and respected. This OMREB article does touch on making sure that the REALTOR® you choose has a strong marketing plan in place. Enjoy reading this and thanks for stopping by!
Sincerely,
Jason Neumann
A Real Estate Listing: More Than Just an Ad in the Paper!
"Are you thinking of selling your home? If so, you will need professional help to ensure your home gets maximum exposure and is well-marketed. You will want to enlist the services of a real estate professional to make sure you achieve your goals.
The listing is the beginning of a selling process that includes a well-thought-out and detailed marketing plan, accessibility to a wide range of potential buyers and commitments to professional service. It also means you will receive friendly, helpful advice throughout the sale of your home.
Technically speaking, a listing is an authority granted by you to a real estate broker to act as your agent in offering your property for sale or lease - according to the terms and conditions set out in the listing contract.
When you list your home with a real estate broker, you are entering into a binding agreement with that firm, so it is important to choose a company and a real estate salesperson that you are satisfied with. To find the right firm and individual, try interviewing three REALTORS® and ask them about the services they will offer when they list your home."
Full article courtesy of OMREB
Sincerely,
Jason Neumann
A Real Estate Listing: More Than Just an Ad in the Paper!
"Are you thinking of selling your home? If so, you will need professional help to ensure your home gets maximum exposure and is well-marketed. You will want to enlist the services of a real estate professional to make sure you achieve your goals.
The listing is the beginning of a selling process that includes a well-thought-out and detailed marketing plan, accessibility to a wide range of potential buyers and commitments to professional service. It also means you will receive friendly, helpful advice throughout the sale of your home.
Technically speaking, a listing is an authority granted by you to a real estate broker to act as your agent in offering your property for sale or lease - according to the terms and conditions set out in the listing contract.
When you list your home with a real estate broker, you are entering into a binding agreement with that firm, so it is important to choose a company and a real estate salesperson that you are satisfied with. To find the right firm and individual, try interviewing three REALTORS® and ask them about the services they will offer when they list your home."
Full article courtesy of OMREB
Sunday, January 18, 2009
BC Home Sales Decline by One-Third in 2008
The following BCREA article shows the stark changes to the Okanagan Real Estate Market from December 2007 to December 2008. Although the statistics may not favour a Seller in today's market, they certainly do favour a Buyer. Interest rates continue to stay low and in doing so allow first time home buyers more advantage of getting into the marketplace.
Vancouver, BC – British Columbia Real Estate Association (BCREA) reports residential sales dollar volume on the Multiple Listing Service® (MLS®) in BC declined 31 per cent to $31.3 billion in 2008, compared to 2007. Residential unit sales declined 33 per cent to 68,923 units last year, the lowest level since 2000, when 54,179 transactions were recorded. The average MLS® residential price in 2008 was $454,599, up 3.5 per cent from 2007.
“The housing market came in like a lion and went out like a lamb in 2008,” said Cameron Muir, BCREA Chief Economist. “Home prices reached a record high in March, but edged lower during the balance of the year.” The average residential sales price hit $483,291 in March and ended the year at $429,210, an 11 per cent decline in nine months.
“The global financial crisis, a sharp correction in the equity markets and a recessionary environment in Canada has wreaked havoc on consumer confidence,” added Muir. “While it’s difficult to predict when consumer confidence will strengthen, home affordability is quietly improving as lower prices and mortgage interest rates increase the buying power of BC households."
December MLS® residential sales dollar volume in the province declined 52 per cent to $1.05 billion, compared to December 2007. Provincial MLS® sales were down 49 per cent to 2,456 units, while the average residential price declined 6 per cent to $429,210 over the same period.
Full article courtesy of BCREA
Sincerely,
Jason Neumann
Vancouver, BC – British Columbia Real Estate Association (BCREA) reports residential sales dollar volume on the Multiple Listing Service® (MLS®) in BC declined 31 per cent to $31.3 billion in 2008, compared to 2007. Residential unit sales declined 33 per cent to 68,923 units last year, the lowest level since 2000, when 54,179 transactions were recorded. The average MLS® residential price in 2008 was $454,599, up 3.5 per cent from 2007.
“The housing market came in like a lion and went out like a lamb in 2008,” said Cameron Muir, BCREA Chief Economist. “Home prices reached a record high in March, but edged lower during the balance of the year.” The average residential sales price hit $483,291 in March and ended the year at $429,210, an 11 per cent decline in nine months.
“The global financial crisis, a sharp correction in the equity markets and a recessionary environment in Canada has wreaked havoc on consumer confidence,” added Muir. “While it’s difficult to predict when consumer confidence will strengthen, home affordability is quietly improving as lower prices and mortgage interest rates increase the buying power of BC households."
December MLS® residential sales dollar volume in the province declined 52 per cent to $1.05 billion, compared to December 2007. Provincial MLS® sales were down 49 per cent to 2,456 units, while the average residential price declined 6 per cent to $429,210 over the same period.
Full article courtesy of BCREA
Sincerely,
Jason Neumann
Tuesday, January 6, 2009
Chattels and Fixtures: What are They?
Area Rug - Chattel
Bathroom Mirror - Fixture
If you are thinking of selling your home, you may be wondering whether you should take the custom-made window coverings with you, or whether that entertainment unit you had specially made for your family room should be sold with the house.
Undoubtedly, these items may be hard to part with. On the other hand, they will probably make your home much more attractive to potential purchasers if you include them in the sale. In fact, it is quite common for vendors to include some items that would normally be considered as "chattels" - such as drapes and appliances - in the sale of their homes as an extra incentive to buyers.
Simply stated, chattels are things that can be removed from a property because they are not attached to the walls or to the property. Fixtures, on the other hand, are things that are attached to the property - things like light sockets, a hot tub or electric wall heaters.
The law is not always crystal clear about what is considered a fixture but your REALTOR® will help you decide and clarify what you want to include in the sale of your home.
Full article courteousy of OMREB
Bathroom Mirror - Fixture
If you are thinking of selling your home, you may be wondering whether you should take the custom-made window coverings with you, or whether that entertainment unit you had specially made for your family room should be sold with the house.
Undoubtedly, these items may be hard to part with. On the other hand, they will probably make your home much more attractive to potential purchasers if you include them in the sale. In fact, it is quite common for vendors to include some items that would normally be considered as "chattels" - such as drapes and appliances - in the sale of their homes as an extra incentive to buyers.
Simply stated, chattels are things that can be removed from a property because they are not attached to the walls or to the property. Fixtures, on the other hand, are things that are attached to the property - things like light sockets, a hot tub or electric wall heaters.
The law is not always crystal clear about what is considered a fixture but your REALTOR® will help you decide and clarify what you want to include in the sale of your home.
Full article courteousy of OMREB
Friday, November 14, 2008
Lawyers, Notaries and Real Estate Transactions
Anyone who has ever bought or sold a house will tell you there is an amazing amount of paperwork involved. Once you put your signature on any of the documents you will be presented with, you are legally bound to honour whatever obligations and conditions that particular contract contains.
So do you need a lawyer/notary in a real estate transaction? The better question might be "can you afford NOT to have one?". With a good lawyer/notary on your side, you will be able to make sense of the legal jargon that turns up on every page. You will also have someone to take care of the time-consuming legalities involved in completing the deal, someone to look after your legal rights and interests.
How do you go about finding a lawyer? If you are buying your first home, probably the best way is to ask around - friends, family and business acquaintances - for recommendations. Question your prospective lawyers about their experience with real estate transactions and also discuss their fee scales and the services they will provide for the money they charge. Ask about whether there could be other legal fees and, if unexpected costs arise, at what point can you expect to hear from them?
When do you start working with a lawyer? It's a good idea to hire a lawyer before you and your REALTOR® submit the Offer to Purchase to a seller of a home. This lets the lawyer look over such things as the legal description of the property you intend to buy before your offer becomes final.
Your lawyer can also ensure there is sufficient time for him or her to carry out various investigations and enquiries. If you are unable to have a lawyer look at your Offer to Purchase immediately, you can insert a condition that gives you another day or two to get that offer satisfactorily reviewed by a lawyer.
If you are buying a home, a lawyer will:
check to see if there are any claims registered against the property and that these are cleared away before you become the home's new owner;
investigate whether taxes are owing on the property;
make sure the property is properly described on every document you sign, and that you will have valid proof of ownership;
tell you how much Land Transfer Tax - the payment to the Provincial government for transferring property from the seller to the buyer - you will have to pay when the transaction is completed, and how much money (if any) you owe for utility bills, fuel or taxes prepaid by the seller; and
draw up mortgage documents, if your lender has not done so.
If you are selling a house, a lawyer will:
gather all necessary documents to complete the transaction and transfer the title to the new owner;
let the buyer's lawyer know that your mortgage, if there is one, will be paid off - or "discharged" - with the proceeds from the sale, and obtain a statement of the outstanding loan balance at the closing date from your lender;
draw up a statement of adjustments that itemizes proceeds from the sale and shows how they will pay off all the costs involved in that sale. He or she will also distribute the money to pay off these costs and discharge your mortgage from the property title. Any money left over is money you have made from the sale and your lawyer will write you a cheque for the net amount; and
arrange to file all the paperwork necessary to transfer the property title.
You can see why it is so important to have a lawyer on your team when buying or selling a home!
Multiple Listing Service, MLS®, REALTOR® and REALTORS® are registered trademarks of the Canadian Real Estate Association. REALTOR® identifies a real estate practitioner who is a member of the Association.
Article courtesy of OMREB
Sincerely,
Jason Neumann
So do you need a lawyer/notary in a real estate transaction? The better question might be "can you afford NOT to have one?". With a good lawyer/notary on your side, you will be able to make sense of the legal jargon that turns up on every page. You will also have someone to take care of the time-consuming legalities involved in completing the deal, someone to look after your legal rights and interests.
How do you go about finding a lawyer? If you are buying your first home, probably the best way is to ask around - friends, family and business acquaintances - for recommendations. Question your prospective lawyers about their experience with real estate transactions and also discuss their fee scales and the services they will provide for the money they charge. Ask about whether there could be other legal fees and, if unexpected costs arise, at what point can you expect to hear from them?
When do you start working with a lawyer? It's a good idea to hire a lawyer before you and your REALTOR® submit the Offer to Purchase to a seller of a home. This lets the lawyer look over such things as the legal description of the property you intend to buy before your offer becomes final.
Your lawyer can also ensure there is sufficient time for him or her to carry out various investigations and enquiries. If you are unable to have a lawyer look at your Offer to Purchase immediately, you can insert a condition that gives you another day or two to get that offer satisfactorily reviewed by a lawyer.
If you are buying a home, a lawyer will:
check to see if there are any claims registered against the property and that these are cleared away before you become the home's new owner;
investigate whether taxes are owing on the property;
make sure the property is properly described on every document you sign, and that you will have valid proof of ownership;
tell you how much Land Transfer Tax - the payment to the Provincial government for transferring property from the seller to the buyer - you will have to pay when the transaction is completed, and how much money (if any) you owe for utility bills, fuel or taxes prepaid by the seller; and
draw up mortgage documents, if your lender has not done so.
If you are selling a house, a lawyer will:
gather all necessary documents to complete the transaction and transfer the title to the new owner;
let the buyer's lawyer know that your mortgage, if there is one, will be paid off - or "discharged" - with the proceeds from the sale, and obtain a statement of the outstanding loan balance at the closing date from your lender;
draw up a statement of adjustments that itemizes proceeds from the sale and shows how they will pay off all the costs involved in that sale. He or she will also distribute the money to pay off these costs and discharge your mortgage from the property title. Any money left over is money you have made from the sale and your lawyer will write you a cheque for the net amount; and
arrange to file all the paperwork necessary to transfer the property title.
You can see why it is so important to have a lawyer on your team when buying or selling a home!
Multiple Listing Service, MLS®, REALTOR® and REALTORS® are registered trademarks of the Canadian Real Estate Association. REALTOR® identifies a real estate practitioner who is a member of the Association.
Article courtesy of OMREB
Sincerely,
Jason Neumann
Saturday, November 1, 2008
Using a REALTOR® to Sell Your Home Makes Good Sense
Selling a home is no small venture. Whether you are selling to move up, move down, move away or for some other reason, you want the process to be relatively fast and painless. You also want to make as much money as possible.
Like fixing a car, some people will be tempted to do the job themselves, reasoning that they can "pocket" the real estate commission. But for most, this is a false economy that makes no more sense than trying to rebuild a car's transmission without the knowledge, training, experience or time needed to do the job properly.
Saving the real estate commission is not a true bargain because most buyers will expect a "bargain" when they see a For Sale by Owner sign. They will offer less than fair market value and the owner will be forced to negotiate upward to realize a small part of the anticipated commission savings. The do-it-yourselfer will also have to factor in the considerable amount of time and expense required to market the property, respond to enquiry phone calls, show their own property and fill out all the legal paperwork.
Selling your home is a complex procedure that involves large sums of money, stringent legal requirements and has the potential for very costly mistakes. That's why there are plenty of experienced real estate professionals to help you make the best sale possible. A REALTOR® has the qualifications, experience and commitment needed to do the work for you.
By REALTOR®, we mean a licensed real estate professional who is a member of a local real estate board - where there is one - and is also a member of the British Columbia Real Estate Association and the Canadian Real Estate Association. When you work with a REALTOR®, you can expect that person to adhere not only to provincial law governing the real estate industry, but also to a national code of ethics.
In addition to following up on details promptly and accurately, a REALTOR® is an expert in effectively marketing your home. Moreover, when you work with a REALTOR® your home will receive far-reaching market exposure through the Multiple Listing Service (MLS®). And the more exposure your home gets, the more likely you are to find a buyer willing to pay "your price".
Once you've made the decision to sell and have gone through the process of selecting a REALTOR®, you can depend on their support every step of the way. Here are some of the ways your REALTOR® can provide you with sound, effective counseling and professional service:
Under the Listing Agreement with you, a REALTOR® is responsible for looking after your best interests, including full disclosure of any information that may influence your decisions, as well as complete confidentiality.
You will receive a full explanation of the selling process and what to expect from the beginning, as well as answers to all your questions along the way. This will increase your confidence as you move towards a successful sale.
The REALTOR® will assess your home, it's best features and what will help it sell most quickly. He or she will help you establish a selling price that will appeal to buyers interested in your type of home.
You will receive advice on how to make your home look its very best. A REALTOR® is experienced in providing tips on ways to make your home sparkle without going to great expense.
A marketing plan for your home will be developed to help it sell quickly and effectively. This plan may include the MLS® listing, open houses, advertising in newspapers and other media.
The REALTOR® will also attempt to separate the lookers from the buyers - known as "pre-qualifying". This can be a real time saver because it helps ensure that only serious buyers visit your home.
When you receive an offer, the REALTOR® will have the knowledge and experience to negotiate an agreement on your behalf and according to your instructions. She or he will act as a mediator between you and the buyer and head off any potential conflicts.
If you decide to accept the offer, the REALTOR® will participate in drawing up a legally-binding contract that protects your interests throughout the transaction.
Once a legally-binding agreement has been signed, the REALTOR® will help you make sure the proper documentation is finalized and sent to the lawyers, that any conditions to the offer are fulfilled and that your questions and concerns are dealt with to your satisfaction.
Doesn't it make sense to use a professional?
Multiple Listing Service, MLS®, REALTOR® and REALTORS® are registered trademarks of the Canadian Real Estate Association. REALTOR® identifies a real estate practitioner who is a member of the Association.
Article courtesy of OMREB
Sincerely,
Jason Neumann
Like fixing a car, some people will be tempted to do the job themselves, reasoning that they can "pocket" the real estate commission. But for most, this is a false economy that makes no more sense than trying to rebuild a car's transmission without the knowledge, training, experience or time needed to do the job properly.
Saving the real estate commission is not a true bargain because most buyers will expect a "bargain" when they see a For Sale by Owner sign. They will offer less than fair market value and the owner will be forced to negotiate upward to realize a small part of the anticipated commission savings. The do-it-yourselfer will also have to factor in the considerable amount of time and expense required to market the property, respond to enquiry phone calls, show their own property and fill out all the legal paperwork.
Selling your home is a complex procedure that involves large sums of money, stringent legal requirements and has the potential for very costly mistakes. That's why there are plenty of experienced real estate professionals to help you make the best sale possible. A REALTOR® has the qualifications, experience and commitment needed to do the work for you.
By REALTOR®, we mean a licensed real estate professional who is a member of a local real estate board - where there is one - and is also a member of the British Columbia Real Estate Association and the Canadian Real Estate Association. When you work with a REALTOR®, you can expect that person to adhere not only to provincial law governing the real estate industry, but also to a national code of ethics.
In addition to following up on details promptly and accurately, a REALTOR® is an expert in effectively marketing your home. Moreover, when you work with a REALTOR® your home will receive far-reaching market exposure through the Multiple Listing Service (MLS®). And the more exposure your home gets, the more likely you are to find a buyer willing to pay "your price".
Once you've made the decision to sell and have gone through the process of selecting a REALTOR®, you can depend on their support every step of the way. Here are some of the ways your REALTOR® can provide you with sound, effective counseling and professional service:
Under the Listing Agreement with you, a REALTOR® is responsible for looking after your best interests, including full disclosure of any information that may influence your decisions, as well as complete confidentiality.
You will receive a full explanation of the selling process and what to expect from the beginning, as well as answers to all your questions along the way. This will increase your confidence as you move towards a successful sale.
The REALTOR® will assess your home, it's best features and what will help it sell most quickly. He or she will help you establish a selling price that will appeal to buyers interested in your type of home.
You will receive advice on how to make your home look its very best. A REALTOR® is experienced in providing tips on ways to make your home sparkle without going to great expense.
A marketing plan for your home will be developed to help it sell quickly and effectively. This plan may include the MLS® listing, open houses, advertising in newspapers and other media.
The REALTOR® will also attempt to separate the lookers from the buyers - known as "pre-qualifying". This can be a real time saver because it helps ensure that only serious buyers visit your home.
When you receive an offer, the REALTOR® will have the knowledge and experience to negotiate an agreement on your behalf and according to your instructions. She or he will act as a mediator between you and the buyer and head off any potential conflicts.
If you decide to accept the offer, the REALTOR® will participate in drawing up a legally-binding contract that protects your interests throughout the transaction.
Once a legally-binding agreement has been signed, the REALTOR® will help you make sure the proper documentation is finalized and sent to the lawyers, that any conditions to the offer are fulfilled and that your questions and concerns are dealt with to your satisfaction.
Doesn't it make sense to use a professional?
Multiple Listing Service, MLS®, REALTOR® and REALTORS® are registered trademarks of the Canadian Real Estate Association. REALTOR® identifies a real estate practitioner who is a member of the Association.
Article courtesy of OMREB
Sincerely,
Jason Neumann
Wednesday, September 24, 2008
The Zero Money down 40 year Amortization Mortgages run out effective October 15,2008.
In an effort to protect and strengthen the Canadian housing market, the Governement of Canada has put a deadline on 40 year amortized mortgages. As of October 15,2008 it will a little more difficult for first time buyers to qualify for larger mortgages. It would be a massive understatement to suggest that this measure is being taken to avoid a similar crisis as the US real estate market is currently experiencing. Thankfully, our government recognizes the dangers of making high-ratio financing for buyers today. The following blog post I found on BCMortgage.ca explains in greater detail all the changes being made to the mortgage industry in general by October 15,2008. My hope would be that first time buyers that truly require this type of this mortgage product will do so while they still can.
Sincerely,
Jason Neumann
Tuesday, September 23, 2008
Snow has begun to fall at Big White Ski Resort!
Yes, it's true! I just got off the phone with a friend that lives at the resort. It wouldappear that a very early snow fall has begun. Perhaps, we could all be hitting the ski slopes by Halloween. Big White has not updated their site yet for the snowfall, I would imagine it will take more than a few centimetres before they report it!
With summer all but gone, let's get ready for some wonderful "champagne powder" riding!
Sincerely,
Jason Neumann
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