What the housing market could look like in 2017

Canadians coast-to-coast love to talk about the cost of homes, and 2016 was a hot year for the housing market in many cities.

But experts say you shouldn’t necessarily expect the same this upcoming year. READ MORE

Renovate with eye to returns, Featuring Laura Kemp

Why do people renovate their houses? The standard answer is "to increase the resale value."
Perhaps that was true during the great building boom between 1945 and 1970, when 40 per cent of Winnipeg homes, excluding the inner city, were built. Slap some paint on the walls, give the floors a polish and arrange the furniture so everything looked neat and tidy -- presto, you could double the price of your home before the real estate agent had finished hanging the For Sale shingle.


What you need to know about Home Appraisals

More than ever, appraisers are becoming as much a part of the home buying and selling process as lawyers, realtors, and home inspectors. Robin Jones, President of Appraisal Institute of Canada Ontario Association says it’s a result of homeowners and buyers wanting an objective perspective on the value of the house. “An appraisal is beneficial because it gives you the opportunity to make sure you’re not paying too much when buying a property, or asking too little when selling a property,” he says.


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Bundles of debt: How lenders sidestep Canada’s mortgage rules

Canada’s subprime mortgage providers are increasingly teaming up with unregulated rivals to sidestep rules designed to clamp down on risky lending.

The result of these partnerships are so-called “bundled” loans, READ MORE

How principal-residence tax changes will affect every Canadian homeowner

Earlier this week, Finance Minister Bill Morneau introduced tax changes that were aimed primarily at foreign investors in Canadian real estate to ensure they abide by our existing tax rules. But the changes also catch many Canadian residents who, in the past, have often inadvertently escaped paying tax on their principal residences. READ MORE


AS HOUSING PRICES SURGE, SO DOES MORTGAGE FRAUD

​Mortgage fraud has surged in Canada as soaring home prices in some markets have squeezed buyers and attracted attention from money launderers, data from credit reporting agency Equifax Inc. show.

The number of mortgage applications flagged as potentially fraudulent has risen 52 per cent since 2013, READ MORE

GLOBE AND MAIL - Has your home been fraudulently overpriced?

Eight years ago, back when Laura Kemp began her career as an appraiser, her father-in-law, also in the business, shared one of his weirdest home visits.
The bank once sent him to check out a bungalow on a 20-acre lot outside Winnipeg, requiring a full appraisal before it would release the funds for a mortgage. But when he arrived there after hours of driving, he was in for a surprise.​

“There was no house on the lot,” says Ms. Kemp, owner of Winnipeg-based Kemp Appraisal Ltd. “Now that’s mortgage fraud.”