We are pleased to announce a new partnership resulting in the creation of the Royal LePage Discount Flooring program.

Royal LePage has partnered with ICC, Canada's leading provider of insurance industry flooring replacement, resulting in exclusive access for Royal LePage agents, brokers and your clients. You'll receive significant discounts from some of Canada's best known flooring manufacturers, sold throughout the ICC network of more than 540 retail locations across Canada.

Preferred Pricing includes:

• Approximately 25% lower than market pricing on flooring materials and installation services
• Flooring types include carpet, underpad, ceramic, hardwood, laminate, cork, parquet and vinyl
• Access to view hundreds of available products and styles online from mills and suppliers who are part of the ICC and Royal LePage program
• Ability to locate a retailer closest to your home and to create a voucher to ensure favourable pricing

In addition, ICC donates 1 per cent of incremental revenues as a result of volumes associated with this program to the Royal LePage Shelter Foundation, Canada's largest public foundation dedicated exclusively to funding women's shelters and violence prevention programs.

KAMLOOPS

From Murray:  I filled out the application at the link below and it appears our local dealer to work through is Bridgeport Floors.  If you wish to take advantage of this program use the link below to make an application, enter my name as yoru agent and you will be immediately emailed a voucher to take into the store.   As always... be wise... shop and compare.  I would appreciate hearing feedback from any of you that try this program!  Thanks - Murray

USE THIS LINK TO SIGN UP FOR YOUR VOUCHER:  www.icc.ca/royallepage

An interesting read on climate change from the World Watch Institute.... click on the image below to open.

BC Real Estate Association (BCREA) Chief Economist Cameron Muir discusses the May 2015 statistics.

Just working on the layout and design of my new Royal LePage business card... Let me know what you think?

The statistics from the Kamloops Real Estate Association have just come in and it appears that in May 2015 Kamloops has just entered a neutral market for the first time almost 10 years.  For example if there were 500 listings in a month and 250 of them sold this would be considered a balanced market.... So Kamloops is sitting at approximately 51% at the end of May.  Just entering into a Neutral market after years and years of being entrenched in a Buyer's market.

There were 504 new residential listings in May and 256 of them sold, placing Kamloops at 50.8%... or in neutral territory. For a good definition of what the various real estate markets are, read Elizabeth Weintraub's article below...

Buyer's Real Estate Markets

If you are a buyer looking to a purchase home in a buyer's real estate market, this is the best financial market in which to buy.

Why? Because there are more homes available for sale than buyers to purchase them. Buyers have more homes to choose among, which increases the odds a buyer will find that **perfect** home.

In a cold real estate market, serious sellers are often willing to negotiate. This means you can probably buy a home for less than list price, and the seller might be willing to pay some or all of your closing costs.

Signs of a Buyer's Market

• Inventory is high as compared to previous months / years.
• More than six months of inventory is on the market.
• Comparable sale prices are higher than active listing prices.
• Fewer buyers are purchasing, resulting in lower closed sale numbers.
• Median sales prices are declining.
• Real estate ads are getting bigger.
• For Sale signs are staying up longer, resulting in longer DOM.

How to Compute Months of Inventory

1. Find the total number of active listings on the market last month.
2. Find the total number of sold or closed transactions for last month.
3. Divide the number of total listings by the number of total sales, which results in the number of months of inventory remaining.

For example, in a buyer's market, there was 8,722 listings available over a given 30-day period. During that time period, 1,021 sales closed. That leaves 8.5 months of inventory remaining on the market, making that marketplace a buyer's market.

Seller's Real Estate Markets

If you are a home owner who wants to sell a house in a seller's real estate market, this is the best financial market in which to sell. Why? Because there are more buyers than available houses to buy.

In a hot real estate market, serious buyers are often willing to pay more than list price. This means you can probably sell your home quickly and quite possibly for more than you ask for it. If your market is sizzling hot, you might be able to demand that buyers waive appraisals and inspections, although it's always a good idea to let a buyer have a home inspection. Moreover, without waiving the right in writing, federal law says you must give a buyer 10 days to inspect for lead paint.

Signs of a Seller's Market

• Inventory is very low as compared to previous months / years.
• Less than six months of inventory is on the market.
• Comparable sale prices are lower than active listing prices.
• More buyers are purchasing, resulting in higher closed sale numbers.
• Median sales prices are increasing.
• Real estate ads are getting smaller.
• For Sale signs are up for a few days before a pending or sold sign is attached.

Neutral Real Estate Markets

These markets are balanced. Typically, interest rates are affordable and the number of buyers and sellers in the marketplace are equalized. The scales don't tip in either direction, meaning the market is normal without experiencing volatile swings.

Signs of a Neutral Market

• Inventory is normal as compared to previous normal months / years.
• Three to six months of inventory is on the market.
• Comparable sale prices are close to active listing prices.
• Sales numbers have stabilized.
• Median sales prices are flattened.
• Real estate advertising remains uniform.
• For Sale signs are replaced with pending or sold signs within 30 to 45 days.

BC Housing Demand Forecast to be Strongest Since 2007
BCREA 2015 Second Quarter Housing Forecast

Vancouver, BC – June 1, 2015. The British Columbia Real Estate Association (BCREA) released its 2015 Second Quarter Housing Forecast today.

“More robust economic growth, strong consumer confidence and rock-bottom mortgage interest rates are expected to push housing demand this year to its highest level since 2007,” said Cameron Muir, BCREA Chief Economist.  

Multiple Listing Service® (MLS®) residential sales in British Columbia are forecast to rise 12.1 per cent to 94,300 units this year, before edging back 2.9 per cent to 91,600 units in 2016. The ten-year average is 83,600 unit sales. A record 106,300 MLS® residential sales were recorded in 2005.  

Stronger consumer demand combined with fewer homes available for sale is forecast to push the average MLS® residential sales price in the province up 7.4 per cent to $610,500 this year. Modest upward pressure on mortgage interest and rising new home completions are expected to ease pressure on home prices in 2016. The average MLS® residential sales price is forecast to increase by 1.7 per cent to $621,000 in 2016.