Kamloops Real Estate Insider Podcast

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On this episode Parker chats with Brian Ledoux and Lisa Moonie of Royal Lepage Westwin Realty in Kamloops about the current market conditions as well as a deep dive on Stigmatized properties, what they mean and how they are treated as agents, buyers and sellers. A good listen if you believe in Ghosts! or simply hate the though of buying a home that someone has died in!!!!!!!

June Stats ..... Landlord Alert by Parker Bennett

Better Rates Ahead For Canadians by Parker Bennett

Episode 125 Parker discusses the B.C.'s short-term rental legislation ( Which will Include Kamloops BC ) , Municipal upzoning regulations due to hit the mainstream June 30 2024 & The vacancy tax and how that may effect Kamloopians. Last updated on May 9, 2024 Like many jurisdictions, B.C. is regulating short-term rentals to help return more short-term rental units into homes for people. Learn more about B.C.'s Short-Term Rental Accommodations Act and regulations on this page. Overview of B.C.'s Short-Term Rental Accommodations Act Returning short-term rental units to the long-term market Strengthening local government tools to enforce short-term rental bylaws Establishing Provincial oversight of short-term rentals Short-term rentals versus tenancies The purpose of the Act is to: Return short-term rental units to the long-term housing market Give local governments stronger tools to enforce short-term rental bylaws Establish a new Provincial role in the regulation of short-term rentals The Act applies to short-term rentals being offered to the public including: Platforms where people reserve and pay for the accommodation, for example, Airbnb, VRBO, Expedia, and FlipKey Offers on other web listing forums, for example, Facebook Marketplace, Kijiji, and Craigslist Listings in classified ads in newspapers The Act will not apply to: Hotels, motels , Reserve lands Nisga’a Lands or the Treaty Lands A vehicle, such as an RV A tent or other temporary shelter B.C.'s short-term rental legislation Last updated on May 9, 2024 Like many jurisdictions, B.C. is regulating short-term rentals to help return more short-term rental units into homes for people. Learn more about B.C.'s Short-Term Rental Accommodations Act and regulations on this page. Increased fines and tickets The maximum fine that regional districts can set for prosecutions of bylaw offences under the Offence Act has increased from $2,000 to $50,000.

On this episode, I discuss the stats of the Kamloops market for the month of April along with some ranting about CMHC and the media's perspective of the over night bank interest rate. Will the mortgage rate go down if the Bank of Canada announces a rate drop come June of this year?

When is the best time to sell in the Kamloops ? On this episode we explore each month indepth to find out when all the sales happen in the Kamloops market. The most productive months happen between February and June when 61% of the years sales will take place. May and March are the most productive months individually, with 13.9% each, while April is a close runner up at 12.9% of the years sales happening. Take a look at the link for the full overview of the Kamloops market breakdown for the month of April 2024 https://parkerbennettrealestate.ca/kamloops-realestate-report-april-2024/

Episode 123 The Everything You Need To Know About SunRivers Episode Welcome to Kamloops Real Estate Insider Podcast with returning guest Lisa Moonie licensed broker, real estate agent, Sun Rivers resident. As well we are joined by Lawyer and Partner of Stewart and Springford law LLP Welcome Chrystie Stewart. Also a Sun Rivers resident Today, we're are going to dive into a very specific neighbourhood in Kamloops, we are going to look at leasehold ownership of the Sun Rivers development. The purpose of this episode is to discuss and answer questions, rumours and myth busting about the development ownership and to give a more in depth discussion about the development, so if you were thinking about purchasing at Sun Rivers to give you a source of qualified information Sun Rivers Sun Rivers is located in one of the most desirable physical locations in Kamloops. With such limited development on the South facing exposure of the Thompson river, sun rivers was appropriately named for its amazing amount of South facing exposure, proximately to downtown, it’s a resort style development featuring Big horn golf and country club. Sun Rivers holds the 99 year head lease, plus 20 year development term, over the 460 acre parcel, the head landlord is ‘Her Majesty the Queen in right of Canada’ (the crown). The lease has been structured to most fully protect the investments of the homeowners, the investors, the lenders and Sun Rivers. The amended lease date will end on June 30, 2115; in effect, the earliest parts of the Sun Rivers Community have a total lease of up to 119 years. Is purchasing land at Sunn Rivers secure ? The land has been leased back to the Federal Government "The crown and your leased ownership is with the crown and not directly with TKIB. How is Sun Rivers different ? Each Development has a style and design characteristic Lenders ?are they limited ? Ownership - Utilities Corex ( Hydro and Natural gas water and sewer ) TKIB has a water treatment facility, but sewer services for wastewater treatment are contracted back to the city of Kamloops. Property Taxes, home owners grant, Property transfer taxes is applicable, GST is applicable Geo thermal heating .. ground source heat pump using water that circulates the ground to extract thermal energy or to discharge thermal energy in the cooling months. ( carbon taxes this is now going to more affordable ) Landscaping ( community fees, ) development fees, Services ???? Bus, fire, schools, parks, hiking in the area ? access is limited , was an adult orientated development, but its moving away from that currently. One road in and out ( What is a quiet calmed community ) - Third party approval for purchasing and how that works - Gap insurance, Trust completion - defining these terms Don’t want to discount the fact that the wildlife is amazing … Ovis canadensis California big horn sheep, chukars What happens as we get closer to 2115 ??????? how does that play out ? Some 2024 stats on the development shows "It takes over double the amount of time for properties to sell at Sun Rivers", we explore why that is....

March Realestate report covering the most up to the minute stats on the Kamloops market from February 2024. We also delve into the definitions of benchmark price compared to average price of a home in Kamloops and compare it to some of the subdivisions sales in Kamloops for relevance . The benchmark price in Kamloops today is $647,000 while the average price is $793,331. The average days homes are sitting on the market has been reduced in the past two weeks from 71 days to 53 days indicating a swift uptick in the current stat of the market. The spring market has arrived.......

Recent recruits to the Royal Lepage team in Kamloops, Jenna Brown and Ashley Nordick speak casually with Parker Bennett about their early experiences in the Real estate industry. Anyone considering a career as a realtor should consider a listen as there are a number of good considerations discussed in this episode of the Kamloops Realestate Insider Podcast.

How will your new car payment affect your home buying power? with Billie Christiansen by Parker Bennett

BC home flipping tax and bigger exemptions for first time home buyers by Parker Bennett

PODCAST EPISODE 117 "The Deposit Dialogue: Navigating Real Estate Transactions" Welcome to Kamloops Real Estate Insider Podcast with returning guest Lisa Moonie licensed broker, real estate agent, door knocking instructor among other things In this episode, we'll explore the purpose of deposits, demystifying why they're not just about the money but a vital component of the negotiation process. We'll break down the advantages of larger deposits, such as stronger buyer credibility and potentially smoother negotiations, and contrast these with the flexibility and reduced upfront financial burden of smaller deposits. However, it's not all black and white. Larger deposits can pose significant risks if the deal falls through, potentially tying up substantial funds. On the flip side, smaller deposits might weaken a buyer's offer in a competitive market. We'll navigate through these nuances, offering insights and advice on finding the right balance and making informed decisions that align with your real estate goals. Also, we dissect the pros and cons of deposit sizes, providing you with the knowledge to leverage deposits effectively in your next real estate venture. Whether you're a first-time homebuyer, a seasoned investor, or a curious industry professional, understanding the strategic use of deposits can be a game-changer in your real estate transactions. Dont forget to leave us a comment and a review .... thank you in advance.

In episode 116, Parker Bennett (PB Realestater) seizes a rare opportunity to engage in a candid conversation with Mayor Hammer-Jackson of Kamloops, BC. Together, they confront the looming issue of homelessness, shining a light on a topic often overlooked. In just over a decade, the number of homeless individuals in Kamloops has undergone a dramatic transformation. - In 2009, the city counted 103 individuals without stable housing. -By 2018, this number had more than doubled to 201. -Fast forward to 2023, and the count has surged to a staggering 312, marking a 52% increase in just two years. These numbers are not just statistics; they represent individuals, each with their own story and struggle. In the broader context of British Columbia, Kamloops is not alone. The province is grappling with a homelessness crisis, with an estimated 26,000 individuals lacking stable housing. Mayor Hammer-Jackson of Kamloops is deeply concerned about this trend. He believes that addressing mental health issues and substance abuse is key to preventing homelessness. By improving support systems and access to treatment, Mayor Hammer-Jackson hopes to provide a path for those struggling to rebuild their lives and stay off the streets. Finally we end on a note of how the community can help be a part of the solution to the city's growing homelessness issue.

Hello, Kamloops real estate enthusiasts! Welcome to another insightful episode of the Kamloops Real Estate Podcast On todays episode we've got a special edition for you, diving into the noteworthy news shaping the real estate landscape in February 2024. First on the docket, we're unpacking the ongoing legal saga in the Sunderland Case, a class-action lawsuit sending ripples through the real estate community. Allegations of conspiracy and price-fixing have kept the industry on its toes, as we explore the potential impact on the market and its players. But that's not all. We can't ignore the elephant in the room – the pressing housing affordability crisis in Canada. Our homeowners are feeling the pinch, with a staggering 63% of their household income devoted to meeting their financial responsibilities tied to home ownership. It's a challenging landscape, and today, we're peeling back the layers to understand the root causes and potential solutions. As governments grapple with the soaring demand for housing, we examine the various strategies employed to curb this relentless surge. From efforts to slow down demand to discussions around immigration policies, we're breaking down the complexities of the housing market. Spoiler alert: the demand is expected to keep inflating until we see concrete steps towards creating more affordable housing options and addressing the root causes. So, whether you're a seasoned real estate pro or a first-time buyer, buckle up for an episode packed with insights, analysis, and a glimpse into the future of Kamloops real estate.

BC assessments are out, and on average, Kamloops has seen a 2% decrease to the average property home owner. But as with any average, it's crucial to understand that individual property assessments may vary. In fact, my own experience with multiple properties shows that some have seen minuscule increases. Let’s explore: what the BC assessment is why it matters, and its significance for buyers, sellers, and real estate agents. Let's start by defining BC assessment. It's essentially a market evaluation of each property owner's property derived from a specific snapshot in time—July 1st of each year. However, it's important to note that BC assessment's market evaluation is notably different from what a real estate agent would call a market evaluation. Here is how the BC Assessment and the taxes we pay as property owners all plays out. During each municipality's budget process, each city formulates a budget, which they feel they will effectively need to operate the city. The city will divide that amount by the total tax assessment amount of all properties in its jurisdiction. Then that amount is multiplied by 1,000, which comes out to be the mill rate. The mill rate is then multiplied by your properties assessment for that tax year, which is then divided by 1000 and that is equal to your tax bill. There are different mill rates for different subcomponents of your tax. Ie. Hospitals, schools, districts and a mill rate for BC assessments. Your tax notice will break down different mill rates for different particulars that you have to pay tax on. From a real estate perspective, understanding BC assessments is vital when evaluating properties. However, it's essential to approach these assessments with a critical eye. Factors such as… market conditions changes to market conditions throughout the year supply and demand the interior condition, mechanical make up, and household efficiency are all crucial considerations that BC assessments do not take into account. While it's possible to dispute the assessment, it's important to weigh the potential impact on your taxes and the market perception of your property. Remember, you have until the end of January to dispute your property assessments. However, be prepared with a compelling bundle of data to support your case.

Step into the world of Kamloops real estate with Parker Bennett on the latest episode of the Kamloops Real Estate Insider Podcast, which delves into the details of the 2023 real estate landscape in Kamloops, offering a data-driven perspective. Explore key statistics such as the benchmark price for single-family detached homes, averaging at $650,000, and the average time these properties spent on the market, clocking in at 69 days. Uncover the broader trends, including a notable 8% decrease in total sales and a corresponding 7% drop in the average single-family detached home price compared to the previous year. Parker doesn't stop there – he looks ahead to 2024, providing insights into the potential stabilization or decrease in interest rates and the impact of new zoning requirements on housing dynamics. Whether you're a homeowner, investor, or simply intrigued by Kamloops real estate, this episode promises invaluable insights and a roadmap for navigating the ever-evolving market. Join Parker Bennett on the Kamloops Real Estate Insider Podcast as he breaks down the numbers, analyses market trends, and offers a comprehensive outlook on what's to come. Don't miss out on this episode – your guide to understanding the pulse of the Kamloops real estate market.

This episode, Parker talks about the 5 commonly made mistakes made by Sellers in a Real Estate transaction when they are trying to sell their largest single investment; "their home". 1. Overpricing your property. 2. Deferred maintenance or lack of mechanical care and poor curb appeal. 3. Poor marketing techniques ( hiring the wrong Real Estate Professional " 4. Not being prepared for showings. 5. Trying to sell without using a professional. A great listen for all people considering selling their home.

On this episode Parker Bennett discusses the current market conditions in the Kamloops Real Estate market, province wide zoning changes and changes to owning and operating a short term rental property in the province of BC. A great listen.

A Growing Trend in The RealEstate Market by Parker Bennett