Home equity — what it can mean for new owners
Posted on Feb 27, 2020 in Real estate terminology
For people like realtors, sometimes the most basic knowledge can be something that newcomers to home ownership might not fully understand.
One example is home equity.
Most people get it, that home equity means the size of the “stake” you have in your home.
If it’s something you’ve never thought about because you’ve never been a home owner, here’s a si...
Headlines from the high cost of strata insurance
Posted on Feb 24, 2020 in Insurance
There has been a lot in the news about staggering insurance premiums for condo owners, and it’s not too much of a stretch to say this could have an impact on the real estate market.
Enter the BC Real Estate Association.
Last week, the BCREA made news by explaining how it is taking steps to help potential buyers be prepared for everything concerning c...
A change to the stress test — your thoughts?
Posted on Feb 20, 2020 in Government and real estate
This week, the Federal Government tweaked the “stress test” — the much-debated B-20 — that was designed to reduce the risk of debt for people seeking mortgages by improving the quality of loans.
A change is coming.
Starting in April, the Federal Government will change the stress test qualifying rate.
Current rate: the greater of the borrower’s contrac...
Laminate one improvement to help sell home
Posted on Feb 17, 2020 in Home improvements
Friends of ours installed more than 1,000 square feet of laminate floor in their home about 15 years ago. This was a questionable venture for two reasons. One, laminate floor was a relatively unknown product, in terms of longevity. Two, our friends had never installed anything more challenging than a light bulb — their assessment, not ours.
Times ha...
Millennials and home owners — a market match?
Posted on Feb 13, 2020 in Real estate demographics
Question: What is the impact of millennials (ages 24 to 39) going to be on the real estate market in the decade that is now six weeks old?
Answer: Like just about everything when it comes to being clairvoyant...who knows?
Research company KPMG tried to get a leg up on this for the 2020s by polling millennials. Here is what the results showed today’s...
Selling tips start with making a house look nice
Posted on Feb 10, 2020 in Selling tips
Heading into the spring real estate season, when house activity traditionally takes an upturn, if you’re thinking of selling it’s more important than ever to have your home properly prepared.
That can mean enlisting the services of a staging service, but while always advisable that’s not always necessary.
What is necessary is to make your home look...