Big Changes for ‘Renovictions’
Many prospective homebuyers look to the Okanagan not only for family homes, but also for potential rental properties. The Valley has plenty to offer for families and bachelors alike - and with more young professionals from the Lower Mainland choosing to...
The Impact of Rising Interest
With the Bank of Canada set to make a decision on interest rates this week, one thing that’s clear is rates will be raised. But, when will the new rates come into effect, and what does this really mean for the housing market? News outlets left and right...
BC’s Budget Changes
Last month, BC’s provincial government announced the official budget for 2018 - a highly anticipated release. Some of the key points include changes to MSP and reducing the cost of childcare, but what you might have missed are the big changes coming to real estate...
Is The Market Unstable?
A few weeks ago the stock market saw its biggest weekly plunge since 2016 with the Dow Jones index falling almost 1,200 points. When stocks and bonds falter it’s only natural to wonder - how does this affect my investments? In a business report for CBC, correspondent...
A Generational Shift
With living costs in Vancouver continuing to soar, many young professionals who hail from the Lower Mainland are finding that Kelowna is the answer to their struggles. With the benefits of a 7.2% labour force growth, close amenities for a good work-life balance, and...
A Millennial’s Market
Despite a predicted cooling off for the end of 2017, it seems that British Columbia’s market has actually seen an uptick in sales for November! The BC Real Estate Association reported earlier this month that there has been a 20.4% increase in home sales over November...
New Year, New Mortgage Rules
Last year, the OSFI introduced mandatory stress tests for prospective home buyers who were required to insure their mortgage. The idea of these test was to measure whether or not the people looking to borrow could pay back their mortgage even if rates were to rise....
Auction vs. Realtor
Earlier this month, Kelowna made international news when a mansion previously listed at $6.5 million was put up for auction by Platinum Luxury Auctions. The 10,000 sq. ft. home, set on a scenic 14.5 acre lot, sold for $3.27 million - just over half its valuation -...
Dual Agency Law Changes
Michael Noseworthy, British Columbia's superintendent of real estate, has put in place changes that will see the end to dual agency. This practice, also called 'double-ending', is when one real estate agent represents both the buyer and the seller in a single sale....
