On this episode of the Kamloops real estate podcast Parker gives up the goods on being a landlord.  Parker shares 5 tips that will assist you if you are thinking about buying an investment property or buying a home with a basement suite. Parker dives into the business of owning a real estate rental property. Stay clear of future pitfalls and avoid the issues that so many face when owning their first rental property.

5 Tips to Becoming an Unbreakable Landlord

In this episode, Parker gives a quick and dirty scope of the July summer market conditions, and then an in-depth look at the potential for buying rental property before purchasing your first home to actually live in. This narrative keeps coming up in the social media world and it's driving Parker crazy! Buying your first home is the SMARTEST thing you can do and if you want to own rental property, buying your first home that then converts to a rental is the way to go.  Parker shares tons of data to back up his rant.  Join in for a quick listen.....

Buying a home is not the stupidest thing you can do!

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.

New Legislation Coming to Kamloops Home Owners

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.

5 Common Mistakes Made By Sellers

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.

The Deposit Dialogue episode #117

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.......

March Realestate Market Update For Kamloops

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....

The Everything You Need To Know About Sun Rivers Home Ownership Episode

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.

Provincial & Federal Restrictions For Short Term Rentals, Zoning & Taxation

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!!!!!!!

Stigmatized Properties What? Where? Why?

Parker Bennett and guests from around the housing industry discuss the ins and outs of today's real estate market specifically for the Kamloops and local surrounding markets.

New tracks tagged #kamloopsrealestate