May 2009

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Open houses this weekend will be in Juniper Heights.

Saturday, May 30th: #25-2050 Qu’appelle Blvd: 11:00am-12:00pm

#25-2050 Qu'appelle Blvd Kamloops Open HouseBest Price in Juniper! Bright 3 bedroom unit with laundry & bedrooms up. Master bedroom has a large walk in closet. Center island in kitchen & 5 appliances included. Living room opens up to west facing patio. Central air, 2 bathrooms & single car garage. Pets & rentals allowed. $244,900

 

Saturday, May 30th: 2529 Qu’appelle Blvd: 12:15pm-2:15pm

Qu'appelle Blvd Juniper Ridge, KitchenBeautifully updated Juniper 2-storey home. Maple hardwood floors, slate tile, new light fixtures, new carpet, totally reno’d kitchen & bathrooms & new baseboards. Large master suite on 2nd floor with walk in closet. Living room has vaulted ceilings & gas fireplace. In-ground sprinklers, private yard with a secret garden above & 2 car detached shop. Close to elementary school & transit. $354,900

To view more listings in Kamloops click here.

Front of Home Valhalla Brocklehurst KamloopsKamloops Real Estate Home For Sale BrockBrock, North Shore Kamloops Townhouse for SaleBright & open Brocklehurst unit with low strata fees. Newer lino floors in kitchen & bathroom, newer appliances, updated bathroom (sink, tub & toilet), counter tops, paint, baseboards,Master Bedroom Valhalla Brocklehurst Townhouse light fixtures, window coverings. Townhouse For Sale Kamloops Real Estate

Large carport with lots of extra parking. Nicely landscaped yard with small vegetable garden. Tons of storage, large bedrooms and lots of closet space.

Bathrooms Kamloops Real EstateHome for Sale Kamloops Real EstateStorage space in basement can be converted to 4th bedroom easily. Rough in for second bathroom. Carpets will need to be replaced. Central air conditioning unit.

Priced at $224,900

To view more pictures of this property click here.

To view other home listings in the Kamloops area click here.

Todd Hrycenko Home InspectorCarbon Monoxide DetectorKamloops home owners have you considered the dangers of carbon monoxide? Carbon monoxide, an odorless, colorless gas, is a byproduct of combustion processes in furnaces, fireplaces, appliances, charcoal grills and vehicles that use fossil fuels. It can be dangerous.

A proper exhaust and venting system safely removes this by-product from the home. To keep heating systems and gas or wood burning appliances working well, have them checked annually. Installing carbon monoxide detectors near sleeping areas and in each bedroom can provide another level of safety.

According to Health Canada, the elderly and those with respiratory or heart conditions may react poorly to even low levels of CO poisoning. If you suspect a carbon monoxide problem, follow these tips from the Canadian Mortgage and Housing Corporation. If an obvious source of carbon monoxide is not present:

  • Evacuate all occupants.
  • If anyone has flu-like symptoms, call 911; if there are no health problems, call your gas utility, heating contractor or the fire department to have your house tested.
  • Have a qualified service technician inspect and repair any problems.
  • Do not re-occupy the house unless those who tested the house inform you that it is safe.

The best thing to do to prevent any potential health risks or death is install carbon monoxide detectors in your home. You can purchase them from many local businesses here in Kamloops.

If you have any questions about carbon monoxide or anything related to home inspections contact me directly or post your question here.

Todd Hrycenko, Global Property Inspections
ac.cbipgnull@ddot 250-371-2787

Kamloops Housing Starts, April 2009This article appeared in the Kamloops This Week on Wednesday, May 13, 2009 and was written by Jeremy Deutsch.

It was expected to be a slower year for development around the River City, but the drop in residential single family permits for the month of April caught the city by surprise. The number of single family permits in April dropped to five, down from 26 the previous year. It brings the total number of permits to just 16 in the first four months of 2009, compared to 101 by the same time last year.

David Trawin, director of development and engineering for Kamloops acknowledged the number is lower than expected. However, he’s confident that segment of construction will rebound in coming months. “If it goes like this for three months, it will be shocking,” he said. Trawin pointed out single family permits are just one aspect of total construction value.

Last year the city set a record topping the $207-million mark for the value of construction permits. Staff predicted a return to a normal pace in 2009, with value estimated at $120 million to $140 million. Four months into the year Trawin is still optimistic the city will meet its prediction. So far, the city has reached $23 million in value for 2009 – more than half coming from commercial development, which is up by $4 million over 2008.

Residential value sits at just over $11 million, but that’s down form $25 million last year. One positive side to the slowdown noted by Trawin is that it has given his department a chance to catch up on files and inspections. One building inspector has been allocated to do follow up inspections on new developments to look for deficiencies like incomplete fencing or landscaping.

2529 Qu'appelle Blvd, Juniper Ridge Home for SaleQu'appelle Blvd Juniper Ridge, KitchenQu'appelle Blvd Living room, Home For Sale Juniper HeightsFour bedrooms, two bathrooms and totally renovated. This home has 1,700 square Diningroom Qu'appelle Boulevard Juniper Heightsfeet of living space on a 9,000 square foot lot. This beautifully updated Juniper 2-storey home Qu'appelle Livingroom Juniper Heights Kamloopshas maple hardwood floors, Qu'appelle Master Bedroom Juniper Heightsslate tile, new light fixtures, new carpet, totally renovated kitchen & bathrooms andQu'appelle Back Yard Juniper Heights new baseboards. Large master Qu'appelle Shop Juniper Heights Kamloopssuite on second floor with walk-in closet. Livingroom has vaulted ceilings & a gas fireplace. There is one unfinished room on the second floor currently used for storage but could be a great den or children’s play room.

There are in-ground sprinklers in the private yard, which has a secret garden above the home and a two car detached shop. There is space for RV parking and tons of storage space. Located across the street from the popular Juniper Heights Elementary school & close to transit.Qu'appelle Ensuite Kamloops Real EstateBathroom Qu'appelle Bvd Kamloops Real Estate

To view the full listing of this home click here.

To view homes for sale in the Kamloops area click here.

Brenda Colman Invis Kamloops Mortgage SpecialistIt is essential that you are aware of the costs associated with a Kamloops home purchase. It is important to speak with a mortgage professional before shopping for a home; this will allow you to shop within a price range that is realistic for your situation. At the same time, make sure you are prepared financially for the standard costs associated with a purchase of real estate.

Some of these costs may include:

Deposit:  Once you have an accepted offer on a place, there is generally a five to ten business day period to remove subjects (ie. Inspection, financing, etc.)  Once those subjects have been satisfied, you are required to put down a deposit on the property.  This amount varies, so make sure to ask your Realtor.

Property Purchase Tax:  If you are a first time home buyer and you meet the qualifications, this does not apply to you.  However, if you have ever owned property, anywhere in the world, this tax will be charged on your purchase completion date.  You calculate the amount by taking 1% of the first $200,000 and then 2% of anything over that.

GST:  When purchasing a brand new property, GST will be charged.  Your realtor will advise you of this amount, and it does not apply to used homes.

Closing/Legal Fees:  Be prepared for a legal bill of approximately $1000 for a standard purchase or sale.  If you are buying and selling at the same time, budget approximately $2000 for this expense.

Property Tax Adjustment:  This is calculated at the lawyers office.  A person is always responsible for the property taxes due during the time lived in the home.

Appraisal:  Depending on the lender and how much money you have down, an appraisal of the property may be required.  A standard, residential appraisal will run between $250-$350, and is due at the time of appraisal.  Different properties will have a higher cost, so ask your mortgage professional once you have decided on a property.

Insurance Premium (If Applicable):  In Canada, if you are financing a property to more than 80% of the property value, the mortgage needs to be insured (This is called a “high ratio” mortgage).  This is generally done through CMHC, Genworth Financial, or AIG. They charge an insurance premium that is added to your total mortgage.  The percentage that you pay will vary depending on how much money you have down and how straight forward the approval is.  If you have a 20% down payment or you are refinancing to no more than 80% of the property value, a fee is generally not charged.  A typical fee ranges from 1.75% to 3.10% of the mortgage amount.

It is essential to get pre-approved before making a commitment to purchase a home in Kamloops. If you have any questions for me about mortgages don’t hesitate to post a comment here or contact me directly.

Brenda Colman, Mortgage Consultant, Invis Kamloops
P. 250-318-8118  E. ac.sivninull@namlocadnerb W. www.BrendaColman.ca

Todd Hrycenko Kamloops Home Inspections

I recently returned from the Natural Resources Canada ecoEnergy Adviser training in Saskatoon. Being an ecoEnergy Adviser means that in addition to doing home and commercial property inspections in Kamloops and the interior I will also be performing the energy evaluations that help people to access all the government grants and incentives now available.

This program is really a wonderful opportunity for people to upgrade their real estate holdings with more energy efficient furnaces, air conditioners, heat pumps, tank less water heaters (hot water on demand), improved insulation, new windows, low flush toilets and a whole host of other EnergyStar products. The benefit is some of the costs will be offset by the provincial and federal governments. It’s win win – you help the environment, save yourself a bunch of money in heating and cooling costs, and the government helps you pay for it.

This program is available to both home owners and renters of single family homes, townhouses, and low rise multifamily homes. You don’t even have to live in the house to qualify for the grant, it’s open to landlords as well.

For more info on the program and the combined BC and Federal grants go to the LiveSmart BC website. Also, CMHC insured homes are eligible for a 10% mortgage insurance refund when they meet certain ecoEnergy targets. See the CMHC website for further information.

Don’t forget this money is over and above the federal home renovation tax credit that can earn you up to $1350 back on your tax return. With all these programs in place, there has never been a better time to renovate your home here in Kamloops. All these energy saving renovations are beneficial to both home owners wanting to stay in their home long-term and home owners selling their home. These upgrades will really help showcase your home and make it much more attractive to potential buyers in a very competitive real estate market.

Todd Hrycenko, Global Property Inspections
Phone: 250-371-2787 ac.cbipgnull@ddot

The Kamloops area has a number of recreational properties and lakefront real estate. There are many lakes surrounding the Kamloops area: Adams Lake, the Barriere Lakes, Heffley Lake, Knouff (Sullivan) Lake, Lac Le Jeune, Logan Lake, Nicola Lake (Merritt), Paul Lake, Pinantan Lake, the Shuswap Lakes and Stump Lake.

Adams Lake, BC Real EstateAdams Lake: This beautiful lake is located 55 minutes north east of Kamloops or 30 minutes north of Chase. Adams lake is a very large sprawling lake where many visitors enjoy cycling, windsurfing, water skiing, wake boarding, swimming, canoeing and fishing.  Many fish for kokanee and rainbow trout in this lake. There are a number of properties on this popular lake often found on Agate Bay Road, Rawson Road and Holding Road. There is a large provincial park on Adams lake with basic campground facilities. To view homes for sale on Adams Lake click here.

East Barriere Lake BC Real EstateEast and North Barriere Lakes: East and North Barriere Lakes are located 50 minutes north east of Kamloops and 15 minutes from Barriere city centre. North Barriere Lake is less developed than it’s neighbour East Barriere. There are a number of lots, residential and recreational properties for sale mainly on East Barriere lake.For more info about North Barriere Lake click here and East Barriere Lake click here.

Heffley Lake, Kamloops Real EstateLittle & Big Heffley Lakes: These lakes are very popular because of their close proximity to both Kamloops and Sun Peaks resort. There are recreational properties on both Big Heffley Lake and Little Heffley Lake. Little Heffley lake does not allow power boats for water skiing or wake boarding as it is quite small. Big Heffley Lake does allow power boats which makes it a very popular destination for the summer months. Click here for more detailed information about Heffley Lake.

Knouff (Sullivan) Lake, Kamloops, B.C.Knouff (Sullivan) Lake: This lake is 40 minutes north of Kamloops and  30 minutes from the Sun Peaks Resort. Knouff or Sullivan lake is a quiet area where many recreational activites are enjoyed year round. This lake does not allow gas powered boats, only electric motors. There are a number of waterfront and semi-waterfront properties on this lake.

Click here for more information about this lake.

Lac Le Jeune Real EstateLac Le Jeune: Lac Le Jenue is located 25 minutes west of Kamloops, 30 minutes east of Merritt and 15 minutes south of Logan Lake. This lake is located off of the Coquihalla Highway making it easily accessible during all seasons. Lac Le Jeune is 392 acres and is stocked with rainbow trout. There are two resorts on this lake, numerous seasonal homes and also year round residences. To view properties and homes for sale on Lac Le Jeune click here.

 

Logan lake BC Real EstateLogan Lake: This small lake is located 30 minutes outside of Kamloops and 40 minutes from Merritt. Logan Lake is a small community that has many services and amenities for it’s residents including numerous shops, restaurants, an elementary and secondary school. There are a number of winter and summer activities to enjoy such as golf, fishing, cross country skiing, snowmobiling, dirt biking, hiking and paddling to name a few. For more detailed information about Logan Lake click here.

Nicola Lake, Merritt, BC, Real EstateNicola Lake: This lake is located in Merritt (10 km from city centre), and 45 minutes south east of Kamloops. Nicola Lake is a very large lake covering 15,351 acres. There are a lot of rainbow trout and kokanee for those who enjoy freshwater sports fishing. Windsurfing, canoeing, wake boarding, water skiing, fishing, hiking, horseback riding and mountain biking are a few of the popular activities enjoyed around this lake. There are a number of lots and homes that are located on the waterfront. To view available properties on this lake click here.

Paul Lake, Kamloops Real EstatePaul Lake: Paul Lake is located 15 minutes east of Kamloops. Paul lake has numerous residents that are  seasonal and year round. There are a number of townhouses (Deerwood on Paul Lake) and single family homes on the lake. Many of the single family homes and private properties on Paul Lake are leasehold properties which the Kamloops Indian Band leases out for 25 year terms. There are a few properties that are not located on leasehold land, but tend to be more expensive than the leasehold homes. There are a lot of activities to enjoy such as hiking, water skiing, wake boarding, fishing, swimming and paddling. For further information about Paul Lake click here.

Pinantan Lake, KamloopsPinantan Lake: Pinantan Lake is 25 minutes north east of Kamloops and 5 minutes past Paul Lake. The lake itself is two parts, Big Pinantan and Little Pinantan. The lake is 68 hectares in size. Pinantan properties are freehold properties not lease land. Only electric powered boats are allowed on the lake. Fishing and swimming are permitted in Pinantan lake. There are also hiking trails and other outdoor activities in and around the area to enjoy year round. There are often many properties for sale in Pinantan, lots, log homes, small acreages and lakefront homes. Click here to find out more about this area.

Shuswap Lake Real Estate & InformationThe Shuswap Lakes: Shuswap Lake is a very large lake network with numerous arms reaching a number of cities in the Interior. Shuswap Lake is named after the Shuswap Indians an Interior Salish tribe. This lake is the largest lake in the area with hundreds of kilometers of shoreline with hidden coves and beaches. Little Shuswap extends off of the north western arm of the main arm of the Shuswap lake. The cities and communitites that surround the shoreline of this lake include Salmon Arm, Sicamous, Chase, Seymour Arm, Balmoral, St. Ives, Blind Bay, Carlin, Magna Bay, Scotch Creek, Eagle Bay, Notch Hill, Skimikin, Anglemont, Celista, Lee Creek, Sorrento, Sunnybrae, Canoe, Tappen, White Lake and Wild Rose Bay.

Real estate in and around the Shuswap lake area is very popular for both year round and seasonal residents. There are a lot of beautiful building lots, apartments, townhomes, single family homes and estates that surround this large lake system. Since this area is so large there are often a lot of properties to choose from. Shuswap Lake has many summer cabins that sit on the desirable waterfront but not all areas are serviced by sewer and hydro. Click here to find out more about the Shuswap Lake area.

Stump Lake, Kamloops, BC Real EstateStump Lake: This lake is a smaller lake situated between Kamloops and Merritt on the Old Merritt Highway #5 and is 780 hectares or 1,927 acres in size.  There are rainbow trout, brook trout and kokanee in this lake. This lake is relatively quiet during the summer months. Stump Lake does have public access to the lake to launch a boat or have a summer picnic. Stump Lake has a number of homes around the shoreline and in the surrounding hills. Many of the properties here are very peaceful, set in the wilderness and have beautiful views of the lake valley. To view homes for sale click here.

To search for lakefront homes and real estate in and around the Kamloops area click here.

This article was written by Derrick Penner of the Vancouver Sun today. The Kamloops real estate market has seen downward pressure on housing prices over the last nine months. This article states that we will see continued pressure on housing prices for some time to come. Read below for the full story.

While British Columbia real estate sales have lifted from last fall’s dismal lows, market oversupply and deteriorating economic conditions will still pressure prices downwards, according to Scotia Economics.

March and April saw “pretty strong sales volumes” across the country, said Adrienne Warren, a senior economist with Scotia Economics, the Bank of Nova Scotia’s economic-research division. However, “prices are not really firming up [in B.C.] as we’ve seen in some other parts of the country,” she said Tuesday. “There is still a bit of correction going on in a lot of western markets: Vancouver, Calgary and Edmonton, where they are still working through some overshooting of prices and excess supply.” That, she added, will mean “a little more downward pressure on prices” than what is occurring in central and Atlantic Canada.

The area of Metro Vancouver covered by the Real Estate Board of Greater Vancouver saw 2,963 sales recorded through the realtor-operated Multiple Listing Service in April, which was down eight per cent from the 3,218 sales recorded in April 2008. That number, however, represented a 31-per-cent jump over March 2009 sales, a month that typically shows more sales than April.

And while Metro Vancouver’s main real estate board reported that inventories of new, unsold listings declined for the sixth straight month, Warren said Vancouver still has an oversupply of unsold homes, both among new homes under construction and in the resale market. “It was a much more unbalanced market six months ago,” Warren said, “and we’re beginning to see a fairly sharp drop-off in new listings.”

That drop, she added, shows that Canadians, in general, aren’t being forced into selling homes or being foreclosed on like troubled buyers in the United States.

At the same time, according to Scotia Economics’ calculations, the pace of MLS home sales to April in Metro Vancouver, expressed as an annualized figure, is running almost 25 per cent below the pace of sales in 2008. Scotia Economics’ average price in Metro Vancouver of $494,485, also expressed on an annualized basis, is down 17 per cent from an annualized average price of $593,767 in 2008. “You’ll probably see prices stabilize over the next six months,” Warren said, “at least by the end of the year.”

She anticipates prices will continue that stable trend in 2010 without much of a sharp rebound, largely because of B.C.’s deteriorating economic conditions and rising unemployment. “Low interest rates, tax incentives by the federal government and more choice in the marketplace have done what they should in a cyclical pattern,” Warren said, “which is bringing buyers back into the market.” “But you’ve got to remember the gains we’re seeing are after very low levels late last year.” The report said a rise in demand and drop in new listings has resulted in the market moving closer to “balanced.”

Water Meters In Kamloops, BC?

Kamloops Homeowners are you ready for water meters? This article appeared on the front page of the Kamloops This Week on the Friday May 1st, 2009 edition, written by Jeremy Deutsch. What do you think about these proposed water meters in Kamloops?  Read below for the full story.

The city is once again moving in the direction of universal mandatory water meters and will apply to the federal government to help bear the cost to make them a reality. Council has directed staff to apply for stimulus or “shovel-ready” funding after learning water-meter programs are eligible for money under the revised Building Canada Fund.

The cost to install meters in every home in Kamloops is pegged at $12 million, but the expectation is a grant would cover $8 million. The city has flirted with the idea of universal water meters before, but it was rejected by residents in a 2001 referendum. Instead, a voluntary water-metering program has been in place for the last two years, with 128 house-hold signing up in 2008.

The city hopes meters will cut water consumption and ease demand for the natural resource. According to numbers provided by the city, Kamloops is one of the thirstiest communities in Canada, consuming water on a daily basis above the average in the province. Kelowna, which is on a universal water-meter system, uses and average of 587 letres a day per person, compared to Kamloops which uses 700 letres. The provincial average is 426 litres a day per person.

Kelowna experienced a decrease in annual consumption of water by 20 per cent under water meters. “Based on results from communities across North America, there is no question that water meters are an equitable way to charge for water and save significant amounts of capital dollars,” said David Duckworth, the city’s director of public works and utilities.  It is estimated two of the city’s three primary water-delivery zones need significant upgrading within 10 years, while nearly half of the booster stations will require work within the same time period.

While the majority of councillors have expressed support for water meters, Denis Walsh, Pat Wallace and Marg Spina remain opposed. Tina Lange suggested residents prefer a user-pay system for many of the services in the city, noting meters fall in line with that desire. She said the city isn’t going to profit off a metered system, adding for those on a low or fixed income, meters would be financially beneficial. But Walsh questioned whether there were other ways to get people to conserve water without going to meters. He also wants to see some type of public consultation before meters are approved.

Wallace is skeptical of talk and savings under water meters and as a councillor at the time of the 2001 water-meter referendum, feels obliged to uphold its results. “Because we asked teh taxpayers for their opinion, I feel duty-bound to respect that,” she said.

Even if the grant application is approved, council would still need to give its final nod before going ahead with a universal metering program. Under the application, the meters would need to be installed by April 2011. With clear direction from council, it’s now up to city staff to put the application together before today’s deadline – not an easy task as a typical application can take up to four months to complete.

Here are the Kamloops and District Real Estate Association latest statistics for April 2009. Sales are up this month in comparison to the past few months. However, an increase in sales is common for this time of the year. Click on the image to enlarge.

Kamloops Real Estate Comparative Analysis By Property Type April 2009

Kamloops Real Estate Comparative Analysis By Property Type April 2009

Kamloops Real Estate MLS Activity April 2009

Kamloops Real Estate MLS Activity April 2009

Kamloops Real Estate Sales By Subarea April 2009

Kamloops Real Estate Sales By Subarea April 2009