10 Apr

Setting Up Your HELOC

General

Posted by: Kimberly Walker

A HELOC, or, Home Equity Line of Credit, can be one of the greatest gifts you give yourself. Borrowing money against your home as you accumulate equity through a shrinking mortgage or an increasing property value- something almost many people in the Vancouver and Toronto markets can relate to. With all this increasing value and […]

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6 Apr

Unique Homes Have Special Problems

General

Posted by: Kimberly Walker

Recently one of the former members of the boy band New Kids on the Block expressed an interest in buying this lighthouse off the coast of Virginia in the U.S. Unique homes can be a lot of fun to own and to live in. However, there are some things you should be aware of before […]

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6 Apr

Housing affordability improves for first time in 2 years

General

Posted by: Kimberly Walker

There was an improvement in Canada’s housing affordability measure at the end of 2017. It was the first time in two years that RBC Economics Research’s Housing Trends and Affordability Report has shown a decrease in its aggregate measure, albeit just 0.2 percentage points nationally to 48.3%. As the measure is shown as the share […]

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5 Apr

Which Realtor Should You Use?

General

Posted by: Kimberly Walker

Finding the best realtor for you involves doing some leg work. It can be overwhelming, kind of like choosing which ice cream you want to try! You go to the ice cream store and they have over 50 flavours and after you have contemplated, you opt for vanilla, just because it was easy. Finding the […]

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4 Apr

Millennials set to drive housing boom reveals RBC poll

General

Posted by: Kimberly Walker

Homebuying intention is at its highest in eight years as the growth in the Canadian economy fuels consumers’ confidence. Despite the mortgage stress tests introduced at the start of 2018, a third of Canadians polled by RBC say they are very or somewhat likely to buy a home in the next two years. Among millennials, […]

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3 Apr

3 Mortgage Terms You Need to Know

General

Posted by: Kimberly Walker

Prepayment, Portability and Assumability Prepayments One of the most common questions we get is about mortgage prepayments. The conditions vary from lender to lender but the nice thing about prepayments is that you can pay a little more every year if you want to pay off your mortage faster. A great way to do this […]

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3 Apr

Brokers expect major tax impact for BC housing market

General

Posted by: Kimberly Walker

The tax changes announced by British Columbia will have a major impact on the province’s housing market according to brokers. A survey of 535 real estate professionals in BC and Alberta carried out by Royal Le Page found that most expect the measures designed to target foreign investors will also hit those who own second […]

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29 Mar

Reverse mortgage – Some common misconceptions

General

Posted by: Kimberly Walker

The words reverse mortgage carry some negative connotation. What does it really mean? What makes reverse mortgage different than a regular or demand mortgage in Canada? There are no payments required if 1 applicant lives in the home. Payments can be made if they wish, they are truly optional. No medical required and limited income […]

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28 Mar

The Most Important Question This Spring

General

Posted by: Kimberly Walker

Short Version: The most important question a home-seller must ask their Broker or their banker this Spring: ‘Do I QUALIFY to port my mortgage?’ You must re-qualify to port your mortgage to a new property, and you must re-qualify under stringent new rules. How stringent? Long Version: Let’s say you have impeccable credit, a $100,000 […]

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