General news

Karin and Kim’s Weekly Real Estate Blog

window-of-hopeVICTORIA REALTORS since 93

1- Mortgage rates: Rates are still very low ( 2.7 % at 5 years term ) offered by our favorite broker.

2- Market trends: Prices are stable in most areas and only well priced homes are selling fast. The future doesn’t look brighter and soon the listings will increase with added competition. If you are thinking of selling, just hurry.

3- Full and free access to MLS listings: Please email us with your criteria, to get set up with automatic daily search. <>

4- Best daily deals: please inquire by emailing us.

5- General notes:

a- “ No Down payment…no problem “….well not really.
Since the buyer has no equity ($), most lenders will not finance it and the few that may do, will charge exorbitant rates in face of default risks.
So…save your money for a 5% down payment and don’t even try a cash back.

b- “Depreciation reports” – when buying a strata property, make sure you study the Depreciation report. Many stratas may be insolvent. Keep safe.
c- When buying a “new home”, make sure the builder (realtor) supply you with the Home owner’s warranty docs. ( 2-5-10). An owner/builder shell not sell nor rent the home, within one year after the date of the occupancy permit. Get informed…this is tricky.

For more real estate information, to list your home or to buy one, just contact us to see the difference. 250-588-5587 ( 85)