SATURDAY, JUNE 10 2017
ROYAL LEPAGE Advance Realty proudly brings the 2nd Annual Royal LePage Advance Campbell River Salmon Derby with a $5,000 cash prize for the largest Salmon!
More Prizes to be announced soon!
The 2016 Derby was a huge success with over 700 Registered to fish, 20,000 in cash and prizes given away and over $47,000 raised for our 2 local charities- CR Salmon Foundation and North Island Transition/Ann Elmore Womens Shelter.
For more information and to register please go to https://www.picatic.com/royallepagederby
Tickets are also available at our office! 972 Shoppers Row. We look forward to seeing you there!
1. Curb Appeal: Easily boost your curb appeal with the following ideas:
*Add a new coat of paint to your front door, choose a colour that pops, like red or blue.
*Plant some colourful flowers or some shrubs in your garden.
*Add solar lighting along your walk way.
*Add oversize planters on either side of your front door. Make them pop with added colour.
*Put your garbage cans away, clean any old winter debris from the lawn and try to keep the lawn maintained.
*Pressure wash your driveway and house, this is a great way to give your home and driveway new life!
2. Spring cleaning: Get all those little home renos done now, they will help you get top dollar for your home!
* Declutter and depersonalize your home!
*Ad a fresh coat of paint to the walls and baseboards.
*Fix loose cabinet doors, door hinges, loose screws and repair any holes in walls,
*Open it up! open the curtains and get as much natural light in your home as possible,
3. Porch and Patio: You want to make these inviting, Spring is the perfect time to sit outside and relax!
* Clean your outdoor living space.
* Pressure wash your patio, add a fresh coat of paint or stain if necessary.
* Add some planters and lighting to your space.
4. Market and Price it Right! Call Jo:
It is very important to market and price your home appropriately. Contact me today for your complimenatry home evaluation and to discuss an appropriate marketing plan for your home that will get you top dollar!
The date is set for the 2nd annual Royal LePage Advance Salmon Derby! Last year was such a great turnout, this year will be even better! Dont forget to mark your calendars and tell your friends! More info to follow at https://www.picatic.com/royallepagederby and on Facebook at https://www.facebook.com/events/1193741920680810/
We are so excited to get the planning underway for this years event and to make it even bigger and better than last year! Help us get the word out by sharing the link on facebook ~
Wishing everyone a Happy Thanksgiving
Home buyers should expect tougher mortgage rules to kick in as early as November 1 of this year.
In an announcement released today by the nation’s financial regulator, banks and lenders that offer mortgage financing will face stricter regulations and this will translate into tougher lending rules for home buyers.
Hot markets prompt tougher rules for banks
“These changes aim to reinforce the need for banks to exercise prudent underwriting and proper due diligence when originating insured mortgages,” the Office of the Superintendent of Financial Institutions (OSFI) said in a statement. OSFI continued by stating: These proposed changes to mortgage lending “reflect the changing risks in the Canadian mortgage market.”
In the last year, policymakers have warned that Canada’s housing market is overvalued in some cities, such as Vancouver and Toronto. As such, the current Liberal government has been keen to limit taxpayer exposure to any potential price correction and real estate market downturn. For months, Federal Finance Minister Bill Morneau and the government-owned mortgage insurer, Canada Mortgage & Housing Corp. (CMHC) have been floating the idea of prompting lenders to hold more capital for residential mortgages to protect against defaults.
- Documents required to get the best mortgage rate »
- What’s the best mortgage for the first-time home buyer? »
- Crush your mortgage »
- How to get a mortgage (when you’re not the ideal borrower) »
Taxypayer will be less exposed
The aim of these new regulations is to put more of the onus on banks. By requiring lenders to hold back more money in their own reserves—to cover potential defaults, should markets correct and prices fall—OSFI is reducing taxpayer’s risk at having to cover a shortfall and putting more responsibility on mortgage lenders.
Under current guidelines, banks and mortgage lenders are required to maintain a certain amount of capital to back mortgages offered to home buyers, as well as to comply with OSFI risk-mitigation rules. Under the proposed new rules, OSFI will demand that banks increase how much capital they hold to cover mortgage currently in the market. And, if OSFI finds that a lender isn’t following these new policies, it may reconsider the lenders mortgage insurance.
The move is part of an international effort to shore up financial markets and to protect taxpayers and economies from the devastating impact of over-leveraged financial institutions. (This is in direct response to how badly the American banking system was hit during the 2008/2009 financial crisis.)
How it will impact the Canadian home buyer
As a federal regulator, OSFI’s requirement will impact banks and lenders across Canada. This means buyers in all market will feel the impact of these changes, not just home buyers in hot markets, such as Toronto and Vancouver.
Banks and mortgage lenders will pass down the extra costs of these stricter regulations to the end user. This is done by either increasing mortgage rates or implementing tougher lending requirements for those applying for a mortgage.
For the average Canadian home buyer, then, this could mean that as early as November, it will either be:
→ harder to get a mortgage
→ mortgage rates will start to rise (even slightly)
→ or you won’t qualify for as large a mortgage as you would’ve prior to these new rules.
When will tougher rules take affect?
Today’s announcement of the proposed new mortgage guidelines comes after more than six months of private consultations between OSFI and the banking sector. Now the public and other stakeholders have until October 18 to submit comments before any of these new guidelines take effect. Then the implementation of new mortgage rules will be phased in—some lenders, with a fiscal year-end of October 31, will need to enforce these stricter mortgage rules starting November 1, 2016, while lenders with a fiscal year-end of December 31, will enforce the new rules as of January 1, 2017.
But don’t expect changes in the mortgage or residential real estate market to stop here. This week, Morneau mentioned that additional measures may be needed to manage the risks associated with the “highly charged” Vancouver and Toronto housing markets.
Article by: Ramona King
Borrowed from: Moneysense.com and Ramona Kings Home Owner
Canada Day is right around the corner! It falls on a Friday as well which will make for a nice long weekend. If your looking for something to do or for a schedule of the events going on June 30th and July 1st check out http://www.campbellrivercanadaday.com/ I hope everyone has a fun and safe Canada Day with their loved ones!
Come out and join us for the 14th Annual Cops for Cancer Tournament, Dinner & Auction. The golf tournament tickets are sold out but there is still dinner & auction tickets available as well as raffle tickets. Please feel free to contact me if you would like to purchase raffle tickets! they are just 3 for ten bucks! You can reach me via email, the office (250-286-3293) or on my cell (250-202-7253) its sure to be an awesome event.
Our First Annual Royal LePage Salmon Derby was a success! with the help of our volunteers, prize donors and the community we were able to raise over $44,000 to give back to the community! What a great day it was, from the silent auction to the food and live music, fun events for kids and watching those salmon get weighed. It was a great day. I look forward to seeing what we come up with for next year. Thank you to everyone who was a part of this event and to everyone who came out and supported. Cant wait for next year!