Monday, 14 November 2016

Common Pitfalls to Avoid When Investing in Commercial Real Estate

The most common pitfall new investors fall into is underestimating the true costs associated with a property. Investors must assess if the income reported by the previous landlord is accurate. It is also critical for investors to properly asses the condition of the property and the associated repair costs that may be required. If restoration costs are too high, rent may not be enough to recover the investment price. A trusted commercial real estate agent can provide an accurate assessment of the potential of a property and help newcomers to commercial real estate avoid these common mistakes.

RE/MAX® Commercial is part of the RE/MAX® global network of nearly 100,000 real estate professionals in more than 75 countries. Located in the beautiful North Okanagan and Shuswap areas of B.C., RE/MAX Commercial Solutions is proud to offer professional services in the areas of Commercial and Residential Property Management Services, Rentals, Leasing as well as, a Commercial Brokerage for Investors and end users of any size.

Thursday, 1 September 2016

The Latest BC Commercial Real Estate Statistics

The British Columbia Real Estate Association (BCREA) released the second quarter report for Commercial Real Estate for 2016. The statistics show that BC's strong economic growth, population growth and a strong tourism sector has fueled growth in Commercial Real Estate. Employment is expected to rise 3 percent this year which is the fastest job growth rate since 2007.


 "BC retail sales are up 6.3 per cent year over-year in the second quarter while wholesale trade increased 8.3 per cent. Those gains helped to offset a flattening of manufacturing sales related to slowing exports to trading partners in the Pacific Rim.

Canadian REITs prices rebounded sharply in the second quarter after falling at the start of the year. That, along with a narrowing of credit risk spreads on short-term borrowing contributed to the first increase in the CLI financial component in over a year.

Employment gains remain mixed in key commercial real estate sectors. The CLI measure of office employment increased by more than 10,000 jobs in the second quarter. In contrast, manufacturing employment fell for a second consecutive quarter, declining by 4,900 jobs."

Read the full report here

RE/MAX Commercial Solutions is proud to offer professional services in the areas of commercial and residential property management services, rentals, leasing and sales. We are part of the RE/MAX global network of nearly 100,000 real estate professionals in more than 75 countries. We live and work in the beautiful North Okanagan, Shuswap and Kamloops areas of B.C. Any commercial challenges you have, we will find you solutions!

Tuesday, 30 August 2016

What to Expect as a Buyer This Fall

Despite the fact that one of the hottest times of year for real estate appears when the spring flowers start blooming, that doesn’t mean the market is completely cool for the rest of the year. In fact, we are heading into a very popular time of year for prospective buyers and sellers across Canada. As some prepare for summer to come to an end, and others are preparing for the busy back to school season, some Canadians are doing their research to find out what to expect as a buyer this fall.
With the shorter days and cooler weather beginning to make an appearance, it is very clear that fall is on the way, and if you are one of the many entering the real estate market, you may be wondering what to expect. Fortunately, we have compiled the top things you need to consider as you begin your search for the perfect place to call home.
Location, Location, Location & Weather: We all know it is all about location when it comes to finding your dream home, but before you find the right location, you need to consider the weather. Planning your search too late into the season may mean you are battling Mother Nature so the earlier you begin your search, the better.

Timing is Key: Although your busy summer is winding down, you certainly aren’t working with a clear schedule. Between back to school and the holiday season, finding the perfect time to begin your search is imperative to your overall success and is something you should expect as a buyer this fall.
Decision Time: Although there isn’t as much inventory as you would typically find in the spring, there are still many home to choose one which is why narrowing down your options can be challenging. Using these tips and our House Hunting Comparison Checklist will help when it comes time to make your decision.
The Price is Right: As we get closer and closer to the holidays, you may begin to worry you are running out of time. With the added pressure, you may be tempted to make a decision by increasing your budget, but that will come back and haunt you in the long run. Make sure you plan your budget early in the buying process with help from our Monthly Home Budget Planner.
Make the Move: If you got a head start on the fall selling season and are ready to make your move, we have just the thing you need. Getting home and organized before the holidays is your main goal, and this moving checklist will help you do just that as quickly and efficiently as possible.

As we begin to see the leaves fall off the trees and the familiar sights and sounds of this beautiful season, these tips will be exactly what you need to find a new house to call home this fall. 

Tuesday, 26 April 2016

Top 10 House Hunting Tips

From the RE/MAX Blog:

When looking for a place to call home, it’s easy to get sidetracked by thinking with your heart rather than your head. Although it takes less than seven seconds to make a first impression, a quick decision could lead to an unavoidable case of buyer’s remorse. In order to avoid this, we have listed a checklist for the top ten house hunting tips you need to know before you attend a viewing.
  1. Location: There are many things that can be changed, upgraded, or improved after you have purchased a home, but the location isn’t one of them. You need to think about the proximity to work, schools, and other attractions you frequently visit and also research any new developments or upcoming changes to the area in the future.
  2. Smells: While air fresheners and open windows can clear out certain scents, it’s important to pay attention in order to sniff out other potential issues. For example, if you notice a damp smell, it could mean the home has poor ventilation or issues with mold.
  3. Even Floors: Noticing a slanted floor is one of the major hints that there could be a large structural issue with the home. If you do notice something, you can ask your Agent to inquire with the owners or make note of it for the home inspection if you decide to go that far in the purchase process.
  4. Lighting: Natural lighting is something that is often overlooked in your house hunt, especially if you are viewing a home at night, or in the middle of winter. Think about how important natural lighting is to you, and plan your viewing times around when the lighting will be optimal.
  5. Shape & Size of Rooms: It is important to take a good look at the layout to make sure not only you but also your furniture can fit comfortably in the space.
  6. Parking: Is there enough space for everyone in your household to park or will this become an added expense? Additionally, if there is parking available, will your vehicle fit?
  7. Laundry: If there is laundry in the home, you need to make sure it is in an accessible location. If there is no laundry, is it in a convenient location you can easily get to with or without a car?
  8. Storage Space: Depending on how creative you can get with your storage, you will want to make sure that there is enough room to store your belongings without things becoming cluttered or unliveable.
  9. It looks perfect, but are you missing something? Professional staging can sometimes fool buyers into thinking a property is perfect while diverting their eyes away from potential issues. Don’t let the professional d├ęcor and scent of fresh baked cookies take your attention away from the things that matter.
  10. Assess the Kitchen and Bathrooms: The kitchen and bathroom are two of the most costly rooms in a home. Make sure you pay special attention to these rooms to avoid getting stuck with unwanted repairs or updates after purchasing the home.
While a home inspection will help advise you of any potential issues, it is still a good idea to pay attention to these things in the initial stages of your home search. This will also help ensure you don’t waste money on unnecessary home inspections."
Looking to buy a home in this hot market? We would love to help! We are passionate about real estate and are here to serve you in the North Okanagan, Shuswap and Thompson Valley