Category Archives for Real Estate News

More Millennials From Vancouver Buying Property in Kelowna

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If you’ve even remotely followed the real estate trends of BC in the last decade (and we’re betting more than a few of our readers have) you know Vancouver has become completely unaffordable to most young people. The Millennial Generation, which encompasses most younger people between 15 and 35, is finding it hard to purchase […]

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What Buyers should know about Kelowna Real Estate

I have experienced a lot of buyers in Alberta, Northern BC, Saskatchewan and Manitoba who still think that Kelowna is so expensive, yet you can find a great WATERFRONT resort style condominium in premium downtown Kelowna with the possibility of a boat slip in the low $400’s! How about renting out these condo’s short term […]

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If you bought your very first home in 2014, the Canadian Government wants to give you $750!

This is how the First Time Homebuyer Tax Credit works: The initial costs associated with purchasing a home can be a particular burden for first-time homebuyers especially when added to the money required for a down payment. To assist first-time homebuyers with the costs associated with the purchase of a home, the Government of Canada […]

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Why Chinese buyers are pouring into the Okanagan’s vineyards

Chinese Guys on Okanagan Wine Property She Bought

 Zhenzhen Fu, 28, stands in the rows of grapes at a winery in Lake Country, British Columbia. Zhenzhen Fu is a young Chinese woman who is touring British Columbia’s Okanagan Valley wine region and is interested in purchasing a B.C. winery. KELOWNA, B.C. — It’s harvest season in British Columbia’s Okanagan wine country. Among the […]

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Four Reasons Why Negotiations Go Quickly Sideways in Real Estate

A good realtor acknowledge the importance of negotiating and that without certain skills negotiating a good real estate deal can go sour very quickly. When I see a negotiation go sideways it’s usually because someone didn’t take into consideration the person sitting across the desk from them. 1. Lack of Respect Respect of both parties […]

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Great News for First Time Home Buyers!

In case you have missed it, the BC Provincial government recently announced changes to the exemption limits for the First Time Home Buyer exemption, commencing February 19, 2014. Prior to the change, the First Time Home Buyer Exemption was capped at $425,000.00 and there was a sliding scale between $425,000.00 and $450,000.00.  The new cap […]

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Buying Foreclosure Properties in Kelowna, British Columbia

Irrespective of economic conditions, foreclosure properties are often viewed as a “deal” for the savvy real estate investor. However, courts in British Columbia have a duty to ensure that foreclosure properties are being sold as close to their fair market value as possible. Usually this means ensuring that a property is marketed with a REALTOR […]

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Tax Credits for First Time Home Buyers

If you (or someone you know) qualifies as a first-time homebuyer, you may be eligible for up to $750 in tax credits! http://www.cra-arc.gc.ca/gncy/bdgt/2009/fqhbtc-eng.html – this link will explain how to tell if you qualify and if so, how to claim  it on your income tax return this year! 1. What is the home buyers’ tax […]

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Watch Out for Banks Offering You to Skip Mortgage Payments

It’s no secret that Canada’s major banks offer their clients the opportunity to skip mortgage payments. While this can work to their advantage, industry experts are not big supporters of the option. Bank customers are attracted to this method because no additional fees are required. Not surprisingly, the banks have been actively promoting the skip-a-payment […]

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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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