The hidden trap of mortgage penalties at the big banks

It’s easy to get caught in the posted mortgage rate trap at the big banks. No, you won’t have to pay the posted rate on your next mortgage. Pretty much nobody does that any more, according to mortgage broker Robert McLister. The real danger is that posted rates will be used to calculate the penalty […]

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How to Sell A Home in Winter

Here’s a quick note from me, Rom Houtstra, to let you know how my Romrealty Team and I can help you—or anyone you feel comfortable introducing us to. Winter may not be peak selling season, but fewer homes for sale also means less competition from other homes on the market. It also may mean fewer […]

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Mark Consiglio Announces Ambitious Plans For Kelowna Mountain

Kelowna Mountain’s Mark Consiglio Speaks To Local Media Mark Consiglio and Kelowna Mountain invited local media to announce that their cease trade order from the BC Securities Commission has been lifted. Consiglio also revealed some ambitious development plans for Kelowna Mountain in 2014 and spoke to the press about the RDCO, building permits, and more. […]

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September Sizzling Housing Sales in most of Canada

The weather may have chilled in September, but the housing market proved hotter than expected, according to the latest CREA figures. With more buyers snapping up properties to capitalize on historically low interest rates and wanting to lock in mortgages, home sales increased again in September. Year-on-year, sales of existing homes across Canada increased by […]

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Okanagan and Kelowna Housing Sales Continue to Accelerate in September 2013

The Okanagan Mainline Real Estate Board (OMREB) reported September 2013 sales activity of all MLS® property types have accelerated since early this year, and are up 45% compared to last year at this time. The large percentage change belies the fact that home sales last month were near their 10‐year average. This activity mirrors most […]

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Home Buyers note, new mandatory Depreciation Reports for Strata Titled Properties introduced

Depreciation Reports As you may or may not know, the B.C. provincial government has introduced new regulations making depreciation reports mandatory for strata corporations in B.C. commencing January 2014. Strata corporations of less than 5 units will be exempt from the requirements, plus a strata corporation may consider exempting itself by passing a 3/4 vote […]

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Low Mortgage Rates till 2016?

The Bank of Nova Scotia has reforecast its outlook on the Bank of Canada and now believes the bank will hold off on hiking its overnight rate until 2016. “The Bank of Canada probably now envisages spare capacity remaining into 2016,” the report stated. “It could well push out its forecast to return to the […]

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Okanagan Home Buyers Survey August 2013

AUGUST SURVEY SUMMARY Property Type: 25.4% of purchases were by Move-Up Buyers  (up from 22.8% in July)* 17.3% by First Time Buyers  (down from 17.9%) 13.5% moving from Single Family Home to Strata Unit  (up from 9.8%)* 11.2% buying Recreation Property  (up from 10.8%)* 8.5% buying Revenue/Investment Property  (down from 11.0%) 6.5% moving into Retirement […]

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End of Rent to Own?

A number of mortgage brokers are among those applying more scrutiny to rent-to-own deals following yet another investment horror story. The viability of the rent-to-own market took another hit last week following news that an Ottawa-based company is facing $2 million in lawsuits from unhappy investors. Golden Oaks Enterprises, the company at the centre of […]

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Buyers Profile Central Okanagan June 2013

JUNE SURVEY SUMMARY Property Type: 23.7% of purchases were by Move-Up Buyers (down from 24.5% in May) 17.5% by First Time Buyers (same as May) 17.1% moving from Single Family Home to Strata Unit (up from 15.0%)* 8.6% buying Revenue/Investment Property (up from 7.3%)* 5.1% buying Recreation Property (down from 7.3%) 4.7% moving into Retirement […]

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