Downsizing in Parksville / Qualicum Beach

Steve Hoodspith, a local Financial Planner, and I talk about the topic of downsizing in the Real Estate market today. Have your kids left the home? Looking to live in a home with less square footage? Tired of doing yard work?

Once your home has sold, you may have a surplus of cash from the sale.  Steve talks about how he helps his clients through this transition in their life and the importance of learning about what is most important to the people he works with.

Curious what the average single family home in Parksville, BC sold for last year, have a watch.

If you have any questions regarding how a Financial Planner can help in the process of downsizing or estate planning, please contact Steve Hoodspith directly: stephen.hoodspith@rbc.com or phone (250) 618-5099.

Real Estate Questions? Email me today! melanie@melaniepeake.com or phone (250) 954-0100.

** Stats pulled from VIREB - Vancouver Island Real Estate Board

How a Notary can help in a Real Estate Transaction

Tony MacAulay from Anthony MacAulay Notary Corp. explains the steps of conveyancing for buying / selling real estate transactions in the Parksville / Qualicum Beach / Nanoose area.

Here is a quick overview of the typical steps in a Real Estate Transaction:

• Contract of Purchase and Sale complete
• Client to phone Notary office to “get in the queue”
• Subject Removal date
• Real Estate Brokerage sends paperwork to Notary
• Notary office to call client to confirm details and set up appointment
• Client to meet with Notary approx. one week prior to completion date
• Notary office to work on title searches and prepare documents
• Completion Date / Adjustment Date / Possession Date - these dates vary per contract
• Tony reiterated “Our focus is to communicate with the client and provide a good service”.

If you have any questions regarding how a Notary can help with your Real Estate transaction, please contact Tony directly:           

macaulaynotary@gmail.com or phone (250) 248-5775

Mortgage Rule Changes - Effective Jan 1, 2018

There are some important changes in the Canadian mortgage rules taking place January 1, 2018.  I sat down with Lisa Oleksiuk, with Dominion Lending Centres Island Living, to discuss what these changes are and how they will affect home buyers.  Lisa pointed out that the government will be introducing a stress test for conventional (non insured) mortgages.  If you are thinking about buying a home in the next few months, it's a good idea to book an appointment with a mortgage broker to find out how this may affect the amount you will be able to qualify for.