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May 7, 2013 By

Target Kelowna – Opening Soon

Get ready Kelowna Mortgage holders, Target Kelowna is opening soon.

Several eager shoppers were on hand as Target opened its doors in Vernon Tuesday morning.

The opening is one of 22 in Western Canada – today.

The soft openings include stores in British Columbia, Alberta and Manitoba and follow the opening of 24 stores across Ontario. As previously announced, Target plans to open 124 stores across Canada throughout 2013.

“Target is thrilled to be opening stores in Western Canada, providing a one-stop shopping destination that meets the wants and needs of our guests,” said Tony Fisher, president, Target Canada. “It was exciting to see the response to our Ontario store openings, which have produced valuable insights that along with our soft openings in Western Canada will help us to continue to deliver on Target’s Expect More. Pay Less. brand promise for guests across Canada.”

Locations opening to the public on May 7 include:

British Columbia (9)
Campbell River – Discovery Harbour Shopping Centre
Coquitlam – Coquitlam Centre
Cranbrook – Tamarack Mall
Delta – Scottsdale Mall
Kamloops- Sahali Centre Mall
Langley – Willowbrook Shopping Centre
Nanaimo – Nanaimo North Town Centre
Vernon – Village Green Mall
Victoria – Tillicum Centre

Alberta (10)
Calgary – Chinook Centre
Calgary – Forest Lawn Shopping Centre
Calgary – Market Mall
Edmonton – Bonnie Doon Shopping Centre
Edmonton – Mill Woods Town Centre
Edmonton – West Edmonton Mall
Grande Prairie – Prairie Mall
Red Deer – Bower Place
Sherwood Park – Sherwood Park Mall
St. Albert – St. Albert Centre

Manitoba (3)
Brandon – Shoppers Mall
Winnipeg – Kildonan Place Shopping Centre
Winnipeg – Southdale Centre

Locations opening to the public on May 14 include:

Prince George – Pine Centre
Calgary – Shoppes at Shawnessy
Stores will be open from 8 a.m. to 10 p.m. Monday to Saturday and 8 a.m. to 9 p.m. on Sunday. Guests will be welcomed into bright, clean stores with wide aisles, great guest service and a trend-right merchandise assortment. The majority of the 24 locations will feature a licensed Starbucks, as well as an in-store pharmacy designed to provide guests with superior patient-centered healthcare.

Target Kelowna is expected to be open this summer.

Source: Castanet.net

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March 4, 2013 By

Flaherty – Mortgage Doublespeak and Linguistic Illusion

cash-houseLow Canadian Mortgage Rates

In a masterful bit of mortgage doublespeak and linguistic illusion the Minister of Finance stepped back into
The mortgage marketplace, warning about lenders engaging in prudent lending and not engaging in a race to the bottom.
This is an incredibly ironic stance for him to take since it was him and the Conservative government that encouraged the unprecedented loosening of credit underwriting guidelines 5 years ago.

Great Kelowna Mortgage Rates

Anyway, he once again misses the point entirely. He is obsessed with consumer credit quality and seems unconcerned that the rates are this low because the Bank of Canada and the US Fed are printing money at a record rate.
As anyone that reads this blog knows that Kelowna Lending & Mortage Co. The Lending Outlet has been offering 5-year money at 2.99 or 2.89 percent for the past couple of months. There is also an incredible 10-year rate at 3.69 percent.
This is good for borrowers, especially first time home buyers in Kelowna but is a sign of how weak demand is for borrowing outside the consumer sector.
Canada is lagging in business investment, junior companies are finding it impossible to raise cash, and the general industrial and commercial borrowing side is dead as a doornail.
For economies like the GTA, Quebec, and Vancouver to thrive the country needs to encourage the growth of export-oriented manufacturers. Instead of ragging in consumers, Mr. Flaherty should focus on repairing our manufacturing industry and thereby creating jobs.
A good job lets you repay a lot of debt Mr. Flaherty.

First Time Home Buyers Kelowna

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March 1, 2013 By

Peachland Mortgage Broker

images-4In the summer of 2002, the agile Dominican superstar Alfonso Soriano became the first New York Yankee in history to notch 30 home runs and 30 stolen bases in a single season. Soriano broke another record that year: He was the first Yankee to strike out 157 times in a season. Asked to explain his habitual wild swings, Soriano produced a great line: “You don’t get out of the Dominica by taking pitches.”

There are lots of other lines about investing in stocks and real estate.  You can’t time a market.

The truth is they were lucky. If we really understood statistics we would know that in all systems someone has to win at some point.

So what is my point today?

Don’t try to time the real estate market. There are too many variables.  In a balanced local economy real estate will match inflation.

In down years it tracks below the inflation rate, but eventually it will catch up and hence a boom.

This also works in the inverse. A year where prices exceed the inflation rate invariably turn to a down market as the price revers to the inflation trend line.

What does this mean for Vancouver and Kelowna respectively? Vancouver has maintained its trend line with inflation over the past few years and maybe exceeded it slightly.  The Vancouver Real estate market is probably flat for 2012.

KELOWNA has been below inflation for 3 or 4 years and is probably headed for an upward correction in the next year as inventories decline and building permits stay low.

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February 26, 2013 By

Village Heights at The Ponds Kelowna Upper Mission

Village Heights at the Ponds,

in the Mission Area of Kelowna is a great development of small single family homes priced for average income families and empty nesters.
What makes the Village Heights project successful is its well thought out cohesive design. The Kelowna homes are attractive, with good features and offer excellent value.

billie-broker-kelowna-mortgage-village-heights

The most expensive home at Village Heights is about 520k including HST. The least expensive expensive home one is only $402,500 including HST.

So we can get you in to a brand new home here with 22k down and $57,000k in combined family income. So if you as a couple have  good credit scores and a stable jobs that pays you each at least  $13.70 an hour you should be able to buy a home with just 22k down.

The Lending Outlet has financed 17 homes at the Ponds in the past couple of years and everyone is happy with their purchase.

Call Billie Aaltonen Today – 1-250.575.5478

Village Heights Kelowna

What makes this newsworthy in my mind that in the past week they have sold 7 homes while the headlines talk about a slowdown in the real estate market in Canada.

This just proves my contention that if you offer good value, in the right price range and work with a good realtor and broker, you can find a house you can afford.

Check the Ponds out They are on Steele Road , go to the end of Gordon and up the hill. You’ll see the signs. Trust me you’ll be pleasantly surprised.

The Ponds Kelowna – Billie Broker, Billie Aaltonen

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February 25, 2013 By

West Kelowna Mortgage

west-kelowna-mortgageAs predicted the Bank of Canada will keep rates low for the foreseeable future. This policy combined with the  (apparently) slowing demand in the residential real estate market will create an excellent

buying opportunity for those wanting to own their homes.

According to the bank the wild card in their policy choice is the US economic recovery which is well documented by the US real market blogger, Calculated Risk.

The real problem for the BoC is they are caught between a high dollar, export demand and imports such that they are dammed if they do or dammed if they don’t.

If they raise rates, especially increasing the differential between US rates and Canadian rates then there will be a rise in the Canadian dollar vs the US dollar which will damaging Canada’s vital export industries. In addition, as the dollar rises, imports become cheaper. Much of Canada ‘s inflation basket is made up from imported goods so the inflation number goes down, which pushes the need to raise rates back down. Confused?

Well the bank is a bit too. And we haven’t even factored in the tight mortgage lending policies that the Finance Department and OFSI have forced on lenders that are causing a major slowdown in the construction industry in Canada. Residential construction is a major economic driver for the Canadian economy and its loss will put further downward pressure on any plan to raise interest rates.

To bring this into focus for the ordinary homeowner, all that this means is there is little push on the BoC to raise rates ahead of any move by the Feds in the US. They have committed to keep rates where they are until 2014. So despite the few disclaimers in the BC’s policy statement, the truth is rates are going nowhere in the foreseeable future and if things don’t get going in the near term, we may even see a rate cut.

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