Wildfires: Impact on Buying and Selling Real Estate

Wildfires: Impact on Buying and Selling Real Estate Once again, Kelowna finds itself in the middle of numerous forest fires. With our dryer climate and higher temperatures, it’s a natural hazard we face each year. Along with the emotional and physical damage that homeowners experience, how do wildfires impact buying and selling real estate? When there is an active fire… When there is an active wildfire in the region, home buyers may not be able to get insurance, which in turn, will prevent them from securing a mortgage. This means that real estate closings will be delayed. As the seller, do not cancel your insurance until you receive the proceeds...

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Increasing Awareness Of Domestic Violence in Our Community

INCREASING AWARENESS OF DOMESTIC VIOLENCE IN OUR COMMUNITY Kelowna Women’s Shelter Support and Education Programs Get Boost from Local REALTORS® Kelowna 25 July, 2018 – Broker Manager, Dave Favell of Royal LePage Kelowna presented a cheque to Executive Director, Karen Mason and Resource Development Coordinator, Kathleen Lemieux of the Kelowna Women’s Shelter. In 2017, Royal LePage Kelowna REALTORS® held fundraising events and donated part of their commissions to The Royal LePage Shelter Foundation throughout the year.  The result was more than $7,900 raised to help women and children who are served by the Kelowna Women’s Shelter each year. Supporting w...

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Are You Falling Behind On Your Home Equity Loan?

Mortgage rates have now been on an upward trend for over a year, and this trend is expected to continue, which could create some trouble for those homeowners with Home Equity Lines of Credit (HELOC). The HELOC has been a very popular product as it gives people access to the equity in their home when they want it through a revolving line of credit. The challenge is many homeowners with HELOC’s only pay the required interest portion on a monthly basis and nothing towards the principle as happens with a conventional mortgage. This keeps payments low, but also means you will never pay off the HELOC, and as rates move up, so does your payment, making ...

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