Mobile rules!  It's true... web access from mobile smartphones and tablets are now eclipsing web access from desktop and notebook computers combined (just ask Dr. Google ).  CDNs (Content Delivery Networks) like Amazon Web Services, Akima, Box, Evernote, Dropbox,etc. have now made mobile development their top priority.  It's THE new way to access the web.

The Real Estate Industry has also chosen to embrace Mobile as a prime development platform, and there are a huge variety of mobile apps that home buyers and sellers can use to assist them in buying or selling a home in Kamloops.  So the subject of today's blurbby blog, and others to soon follow in this same category are Mobile Apps that are available.  So today l thought I'ld blog a bit about one of the biggies out there:

THE |- REALTOR.CA -| APP

IMHO it's one of the easiest to use and provides lots of information. It works great in Kamloops for finding homes.  What is it? Well, REALTOR.ca is a free app offered by the Canadian Real Estate Association (CREA). It allows users to search for homes and property across Canada and to connect with REALTORS® for more detailed information. The app will even connect you with a REALTOR to view, buy or sell a property.  Here's the official CREA video for the realtor.ca app and the Apple Watch app.

REALTOR.ca is the most visited real estate website in Canada. The app will provide consumers with the same functionality and detail they get from REALTOR.ca while taking advantage of IOS and Android device features such as GPS and being able to add open house details to the calendar on the device.

HEY, THERE'S EVEN AN APPLE WATCH APP! (come on Santa... Murray needs an Apple Watch so I can teach my clients how to use the realtor.ca watch app... it would be a write off wouldn't it?  Anyone wnat to comment on that who has some tax experience LOL)

This app puts the functionality of REALTOR.ca in the palm of your hand. It uses your handheld’s GPS capabilities to provide search results near your location, whether you’re walking your neighbourhood, out for a Sunday drive, or comparison shopping in a new part of town. Newly listed properties, open houses with photos, and driving directions are all at your fingertips.This app is easy to find on your app store and quick to install and start using.  One of the neatest features of the app is that it supports CREA's special multimedia apps links for video tours, photo galleries, online brochures and also sound bites.  These are great tools for home buyers and not all real estate mobile apps have chosen to support these wonderful links.  As an example if the realtor has the smarts to display a video tour of the home on realtor.ca, and you're out house shopping in Kamloops and you're been driving through Kamloops neighbourhoods and you've finally come across a home that looks promising you can pop the video tour up on your mobile device jut by tapping the video icon and take a tour through home while sitting in your car. If you like it another button will take you to your REALTOR®'s contact info and you set up an appointment to view the home.

LATEST VERSION...

What's New in Version 2.3.0

Introducing Keyword Search  

Now you can find your dream property even faster with Keyword Search. Simply add keywords to your searches, such as: workshop, or granite counters or pet-friendly and REALTOR.ca will find listings matching your criteria. Keywords can also be added to your Saved Searches.

This app comes from the Canadian Real Estate Association (CREA) and as such it is fully bilingual, and it supports EVERY SINGLE listing on the MLS.  While you can use it while driving in your car to see information on houses as you pass by them be careful! NO DISTRACTED DRIVING EH?

Now I've only spot tested the app here and there throughout Kamloops, but it seems to work ok on my iPhone 6 plus just fine and I haven't had any crashes... however a few comments I've picked up from Android users is that the GPS function can drain your battery life quite quickly... and also that the app crashes.  I haven't noticed this on the iPhone, but I'm pretty much always plugged into the lighters in my vehicles all the time when I'm driving...  Apps can crash if the OS has been upgraded, or for a variety of reasons.  CREA has been pretty quick to fix bugs on this from what I've heard.  Maybe some of you can comment about the app eating battery life and any crashes below... if you've got some experiences to share.

Labour Market Boosts Canadian Real Estate in the Second Quarter

• July 14, 2015 

Royal LePage reports that 2015 is shaping up to be a record year; urges Bank of Canada move cautiously on further interest rate cuts

TORONTO, July 14, 2015 – Against the backdrop of mixed economic signals at home and abroad, Canada’s real estate market remained healthy in the second quarter of 2015, with solid national average price appreciation across housing segments. Furthermore, the combination of high sales volumes and vigorous price appreciation in Canada’s largest cities has put the national residential real estate market on track for a record year in terms of total sales. With most Canadian real estate markets across the country advancing modestly, and some rapidly, Royal LePage advises that a further interest rate cut by the Bank of Canada could over-stimulate markets such as greater Toronto and Vancouver.

According to the Royal LePage House Price Survey and Market Survey Forecast released today, the average price of a home in Canada rose between 3.9 per cent and 7.5 per cent year-over-year in the second quarter. The detached bungalow segment had the highest national increase, rising 7.5 per cent year-over-year to $438,938, while standard two-storey homes appreciated 6.8 per cent to $471,002. During the same period, the average price of a condominium rose 3.9 per cent to $268,583. Looking ahead, Royal LePage forecasts that the average price of a home in Canada will increase 6.1 per cent for the full year when compared to 2014.

“The robust national average home price increases that we have seen in the second quarter are heavily influenced by activity levels in Toronto and Vancouver,” said Phil Soper, president and chief executive officer, Royal LePage. “The housing industry in both cities boasts a foundation of prosperous labour markets driving demand for housing that is in limited supply – above average price increases aren’t going away any time soon. Looking to Canada as a whole, 2015 is shaping up to be a record year for housing, despite the cloud of economic uncertainty caused by low oil prices and twitchy global economies.”

Some of the highest average price increases in the country were seen in Toronto and Hamilton, particularly in the detached home segments. In the second quarter of 2015, Toronto saw a 12.9 per cent year-over-year average price increase in detached bungalows and an 11.6 per cent increase in the price of standard two-storey homes. During the same period Hamilton saw 10.9 per cent and 13.0 per cent increases in the same two categories, respectively. Running parallel to this, Toronto gained approximately 69,000 jobs between June 2014 and June 2015 and saw a decrease of 1 full percentage point in the unemployment rate to 6.9 per cent, according to Statistics Canada[1]. Hamilton’s unemployment rate also declined, sitting at 5.2 per cent in June, down from 6.5 per cent in the same month last year, as the city gained approximately 5,600 new jobs. (All labour force figures refer to three month moving averages, adjusted for seasonality).

“Sales in residential real estate are firmly tied to consumer confidence,” said Soper. “This confidence is driven in large part by employment status and prospects. You can see this clearly in the Toronto-Hamilton region where positive full-time jobs trends, supported by the low interest rate environment, are encouraging home purchases in record numbers. We believe an additional interest rate cut, which has been discussed with increasing frequency in recent weeks, would be inappropriate policy at this time.”

“While the oil shock has been a troublesome drag on our economy this year, it seems premature to ring the recession alarm bells now, injecting further monetary stimulus,” continued Soper. “The country’s all-important real estate market simply does not need a rate cut.  I worry that stoking this engine further could move us from a perfectly manageable major market expansion into a more difficult correction, as price levels decouple from more household incomes.”

In Western Canada, Vancouver saw significant year-over-year home price appreciation in the second quarter, posting 12.6 and 13.6 per cent price increases in the detached bungalow and standard two-storey home categories, respectively. In June, the city’s unemployment rate was 6.1, up 0.4 percentage points from its level a year earlier, but still lower than the national average and well within normal levels for the region. Meanwhile in the Calgary market, job losses have been lower than many expected in the wake of oil price declines. Although the June unemployment rate has edged up 0.7 percentage points over the past year to a still low 5.9 per cent, the city actually added 30,000 jobs during the period. Average home prices in the region remained relatively flat year-over-year in most segments, with the average price of a detached bungalow slipping 0.9 per cent, while the average price of a standard two-storey home decreased by 3.1 percent. The average price of a condominium rose 1.6 per cent.

“We believe the oil-shock adjustment to home values in Calgary has for the most part already taken place and expect stable to modestly declining prices through the second half,” said Soper. “Vacancy rates remain low in Calgary as individuals and families continue to be attracted to the vibrant city and those that have spent their careers in the energy sector shrug off declines as temporary and simply a characteristic of the industry’s cyclical nature.”

Threats to the health of Canada’s real estate market in the remaining months of the year include the continued drag from oil price declines and the risk of sharper regional home price corrections if oil fell further; further delay in anticipated export benefits from the lower Canadian dollar; a return to calamity in Europe if the tentative sovereign debt deal with Greece comes apart; and the potential for a brewing capital markets crisis in China.

“A recession now, if we have technically reached that point, appears to be more of a stiff breeze to the hurricane we battled at the end of the last decade. Further, it would seem prudent for Governor Poloz to hold some dry powder in reserve, should one of the seemingly endless geopolitical crisis situations broadside us,” concluded Soper.

Regional Market Summaries

Due to tight inventory in Halifax the average price of a standard condominium jumped by 4.6 per cent year-over-year to $256,333. Average prices of detached bungalows increased by 2.1 per cent to $298,167 and standard two-storey homes rose 1.8 per cent to $368,850.  Royal LePage forecasts that average Halifax house prices for the full year will remain essentially flat, rising by 0.1 per cent by the end of 2015.

High inventory levels have led to slight price softness in some housing types in St. John’s in the second quarter.  The average price of standard two-storey homes saw a small decrease, taking a 0.5 per cent dip year-over-year to $401,833, while detached bungalows decreased 0.9 per cent to $295,333. Meanwhile, the average price of a standard condominium rose marginally by 1.7 per cent to $316,067 in the same period.

In Montreal, the average price of a standard condominium rose 2.1 per cent year-over-year to $244,556. During the same period detached bungalows saw a 0.2 per cent decline to $295,786 while standard two-storey homes decreased 1.5 per cent to $398,214. By the end of the year, Royal LePage forecasts average Montreal house prices will increase 0.6 per cent for the full year, over 2014.

Average house prices in Ottawa saw modest growth in the second quarter. Standard two-storey homes increased 2.3 per cent year-over-year to $411,350, while detached bungalows increased 1.9 per cent to $409,167. The average price of a standard condominium in the city remained flat at $257,467.  By year’s end, Royal LePage forecasts that the average price for a home in the nation’s capital will increase 2.7 per cent over 2014.

Ongoing inventory shortages led to significant increases in Toronto home prices in the second quarter. The average price of a detached bungalow increased 12.9 per cent year-over-year to $712,622 while the average price of a standard two-storey rose 11.6 per cent to $834,728. Over the same period, the average price of a standard condominium rose 5.0 per cent to $402,901. Royal LePage forecasts that prices will see a sizeable 9.6 per cent increase in the Toronto market by year’s end, over 2014.  

In Winnipeg, detached bungalows and standard two-storey homes saw modest year-over-year increases during the second quarter, with average prices rising 1.8 per cent to $316,732 and 1.4 per cent to $340,866, respectively.  The average price of a standard condominium experienced a slight decline, falling 1.5 per cent to $205,969. Royal LePage forecasts that the average home price in Winnipeg for the full year will increase 1.3 per cent over 2014.

Oversupply has led to a decline in home prices in Regina in the second quarter. The average price of a detached bungalow dropped 1.5 per cent year-over-year to $328,500, while the average price of a standard two-storey home remained flat at $372,500. During the same period, the average price of a standard condominium in the city fell by 1.4 per cent to $214,500. By yearend, Royal LePage forecasts a 0.6 per cent decrease in the average home price in Regina compared to last year.

A relatively stable market has continued in Calgary in spite of the weak price of oil and speculation of further economic challenges. The standard condominium category gained 1.6 per cent year-over-year to an average price of $291,022. Over the same time span, standard two-storey homes declined 3.1 per cent to $474,239 and detached bungalows inched down 0.9 per cent to $496,689. Royal LePage forecasts that average prices for homes in Calgary will decrease 2.4 per cent for the full year in 2015.

The market has remained resilient in Edmonton despite struggles in the oil sector. Detached bungalows rose 4.1 per cent year-over-year to an average price of $364,942 and standard two-storey homes increased 3.3 per cent to $384,250. Standard condominiums also saw their average price appreciate, rising 4.4 per cent to $246,812. Looking ahead, Royal LePage forecasts an average price increase of approximately 2.0 per cent in the Edmonton housing market for 2015.

High demand resulted in significant increases in average home prices in Vancouver in the second quarter of the year. Standard two-storey homes and detached bungalows both saw double-digit increases, rising 13.6 per cent year-over-year to $1,368,125 and 12.6 per cent to $1,247,125, respectively.  Standard condominiums experienced a healthy increase, rising 6.0 per cent to an average price of $521,425.  Royal LePage forecasts that average home prices in Vancouver will rise by 9.4 per cent by year-end.

Royal LePage’s quarterly House Price Survey shows the year-over-year change in prices for key housing segments in select national markets.  Click here to view the chart.

Canadian Housing Trends – Royal LePage Q2 2015 Market Survey Forecast

Royal LePage Q2 2015 House Price Survey – Data Chart

The latest statistics from the Kamloops and District Real Estate Association (KADREA) are just out.

Year to date, January 1 to June 30 residential sales are up 18.4%.

Monthly data June 2015 vs June 2014 sales are up 42.2%.  This is very encouraging for home sellers.

Market balance for residential sales is now at 59.6%.... Kamloops is now in a Seller's Market.  Even if we take all segments including commercial, residential and land etc the market balance is slightly less at 51.5% but still headed towards a Seller's Market.

Be sure to check my newsletter which should be out in a few days for all of the information including an analysis of whether house prices are rising.  

Subscribe to the Brown's Report HERE.  You can unsubscribe at any time.

Thanks for reading, please call me if you need information about your home's positiion within your neighbourhood.

I've just posted the Sales By Sub Area reports for the Kamloops area.  Find out what price ranges are selling in your neightbourhoods.   CLICK HERE

Also Just below the above the link you'll find the 2nd Quarter Summary by Sub Area.

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.