A step-by-step guide for first-time home buyers...

The best way to increase holiday cheer...

Should I buy now or wait a year as prices are dropping, but interest rates are rising?...

Why wait for spring - Sell now!
Four great reasons to take advantage of the winter market...

6 Things you can do while visiting Kelowna open houses this weekend...

Mortgage rates started going up again in early October and we will likely see the Bank of Canada bump the rates up in October...

Prepare for cooler weather with these home hacks. These creative ideas will save you time and money...

Owning Versus Renting in Canada Mortgage Professionals Canada released a very interesting report today, Owning versus Renting a Home in Canada. In the report, they compare the expected costs of housing for Canadians who will choose to rent versus those who choose to own. In the 266 scenarios examined in the report, taken from a broad cross-section of regions throughout Canada, the monthly cost of home ownership is lower than the cost of renting equivalent housing in the majority of cases today and becomes, even more, cost-effective over time. “The report demonstrates that the money Canadians are spending on monthly rent if used instead to finance a home, would be a very beneficial investment over time,” explained Will Dunning, author of the report. “The costs of owning and renting continue to rise across Canada. However, rents continue to rise over time whereas the largest cost of home ownership – the mortgage payment – typically maintains a fixed amount over a set period of time – usually for the first five years. The result is that the cost of renting will increase more rapidly than the cost of homeownership.”...

Get ahead of the curve this fall - these organizational hacks will make your family life easier...

Your credit score is critical when obtaining credit these days, yet many people are unclear about what makes up their score. Credit scores range from 300 to 900 with most mortgage lenders requiring a minimum of a 680 score. Many factors go into your score but the 2 largest contributors are how you make your payments and how much of your available credit you are using. The first is easy; make your payments on time and your score goes up; have late payments or collections and your score goes down. Any late payments stay on your bureau for years and continue to impact your score. The second item is a surprise to many. I am often told by clients that they were advised by their bank to make sure they use their credit card often to help build credit. This is not great advice because the second largest contributor to your credit score is what your balances are compared to your limits. For instance, if you have a $1000 limit on your credit card and have a $700 balance on the day that the credit card company reports your account to the credit agency, you are actually lowering your credit score. They call this utilization. The more you utilize the credit you have available to you, the lower your score goes, even if you never miss a payment and pay off your balance every month on time. The good news is next month when your account reports again and your balance is low (below 50%) then your credit score will climb and your score is not affected by the previous months’ high balance. So make your payments on time and use auto-pay whenever possible to avoid human error causing late payments. Keep your monthly utilization of any revolving credit (lines of credit and credit cards) below 50% of the limit and your credit will be an asset and not create a challenge the next time you apply for credit...

Low Waste Gardening in the Okanagan...

Wildfires: Impact on Buying and Selling Real Estate Once again, Kelowna finds itself in the middle of numerous forest fires. With our dryer climate and higher temperatures, it’s a natural hazard we face each year. Along with the emotional and physical damage that homeowners experience, how do wildfires impact buying and selling real estate? When there is an active fire… When there is an active wildfire in the region, home buyers may not be able to get insurance, which in turn, will prevent them from securing a mortgage. This means that real estate closings will be delayed. As the seller, do not cancel your insurance until you receive the proceeds of the sale. Home sellers are responsible for the home until 12:01 on the Completion Date. If the Completion Date is extended, so is the seller’s responsibility to have insurance. Ask a professional… If you have any questions regarding your particular situation, seek the help of a lawyer and insurance specialist. There are many Wildfire Clauses and Covenants on Land Titles that you will want to fully understand. Stay safe and be responsible!...