November 2010

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home for sale sold sign kamloops real estate mls listing kirsten masonDropping mortgage rates and softer house prices pushed housing affordability higher in the third quarter, the Royal Bank of Canada said in its quarterly housing report Monday.

The bank’s affordability index measures how much pre-tax income is required to cover all the costs associated with owning a home. Broadly, the index monitors the costs of condos, detached bungalows and two-storey homes. It was the first time that home affordability has improved in four quarters.

The quarterly report said the index dropped at the national level by between 1.4 and 2.5 percentage points from the second quarter (meaning affordability improved) depending on the type of property. Such a range is still above the long-term average. Bungalow costs fell by 2.4 percentage points between the second and third quarters, to 40.4 per cent of pretax income. That’s still 0.3 percentage points above the third quarter of 2009, when Canada was just beginning to come out of a major recession, and above the 15-year average of 39 per cent.

The situation was similar with standard two-storey homes, which gobbled up 46.3 per cent of pre-tax income — 2.5 percentage points less than in the second quarter of 2010 but up 0.3 percentage point from the third quarter of 2009. The average measure for two-storey homes, since RBC began compiling the numbers in 1985, has been 43.3 per cent.

Modest retreat

National home prices have retreated modestly in recent months, as market conditions cooled considerably during the spring and summer from their earlier boil, the report found. “While this represented a decline from the second quarter, home prices were still 5.8 per cent to 6.8 per cent higher year-over-year.”

Condos remained the most affordable type of housing track, requiring 27.8 per cent of pre-tax income to cover mortgages, taxes and utilities and one percentage point above the long-term average of 26.8 per cent. However, the improvement from the second quarter of 2010 was only 1.4 per cent and remained 0.1 percentage point above the third quarter of 2009.

RBC says all provinces had improvements in housing affordability during the third quarter, especially British Columbia. However, the cost of home ownership in British Columbia remained high by historical standards — following increases that began in the first quarter of 2009. A detached bungalow in British Columbia consumed 59 per cent of pre-tax income, while two-storey homes ate up 67.5 per cent of income and condos required 32.9 per cent of pre-tax income — all above the national average.

Alberta and Manitoba are the only two provinces where the RBC Measures stand below their long-term average in all housing categories, an indication, the bank says, that there is little stress in these markets.

Link

Parker Bennett Home InspectorBugs and pests are everywhere in Kamloops, however, nobody wants to have little critters crawling around their home. So the question is how do we keep these little pests from inhabiting the inside of our home?

Are you familiar with the term – don’t feed the bears? Well, the same applies for all types of critters. The most common problem that we encounter in most cases is having too much access for a free meal.

The following is a list of some good prevention tips that should help stop these little critters before they become a big problem.

  • Do not install bird feeders right next to the home. Keep vegetation away from the home. Periodically check roof vents, siding, eaves, gutters for damage that can allow bugs access into our living spaces.
  • Prevent any wood from direct contact with the earth. Keep garbage in covered containers. Keep food sealed or refrigerated. Clean up food off the floor and ensure all food in the cabinets is placed in sealed containers.
  • Homes with metal siding and metal roofs can be still be damaged by termites, carpenter ants and other insects. Periodically inspect your home and spray seams, corners and exterior wood with proper stains and sealant.
  • Be alert for their telltale signs: piles of wings (which termites lose in the spring), tunnels in wood, tunnels of dirt in foundation walls, piles of sawdust under wood furniture or siding, and the bugs themselves. Check for termites in areas around the furnace and hot water tanks, the high humidity in these areas make for hot spots. Wood soil contact in the yard will be sure to invite all types of pests, so be sure to eliminate all wood soil contact.

If you are in a termite or carpenter ant prone area, have a trained professional evaluate your home for indication of any activity, so that proper treatment can be performed before serious damage and financial cost is incurred. If you want to find out more information about pests and how to control them contact Rest Assured Home Inspections and take a pro-active approach in keeping your home free of any unwanted guests.

Parker Bennett, Rest Assured Home Inspections
P. 250-372-7375 E. ac.oohaynull@snoitcepsniemohderussatser

home for sale kamlooops sign real estate home sale mls listingWhen you are selling your Kamloops home, you as the homeowner can play an important part in the timely sale of your property. When you take the following steps, you’ll make your sale a profitable one.

1. Make the Most of that First Impression
A well-manicured lawn, neatly trimmed shrubs and a clutter-free porch welcome prospects. So does a freshly painted – or at least freshly scrubbed – front door. If it’s autumn, rake the leaves. If it’s winter, shovel the walkways. The fewer obstacles between prospects and the true appeal of your home, the better.

2. Invest a Few Hours for Future Dividends
Here’s your chance to clean up in real estate. Clean up the living room, the bathroom, the kitchen. If your woodwork is scuffed or the paint is fading, consider some minor redecoration. Fresh paint adds charm and value to your property. If you’re worried about time, hire professional cleaners or painters to get your house ready. Remember, prospects would rather see how great your home really looks than hear how great it could look “with a little work.”

3. Check Faucets and Bulbs
Dripping water rattles the nerves, discolors sinks, and suggests faulty or worn-out plumbing. Burned out bulbs or faulty wiring leave prospects in the dark. Don’t let little problems detract from what’s right with your home.

4. Don’t Shut Out a Sale
If cabinets or closet doors stick in your home, you can be sure they will also stick in a prospect’s mind. Don’t try to explain away sticky situations when you can easily plane them away. A little effort on your part can smooth the way toward a closing.

5. Think Safety
Homeowners learn to live with all kinds of self-set booby traps: roller skates on the stairs, festooned extension cords, slippery throw rugs and low hanging overhead lights. Make your residence as non-perilous as possible for uninitiated visitors.

6. Make Room for Space
Remember, potential buyers are looking for more than just comfortable living space. They’re looking for storage space, too. Make sure your attic and basement are clean and free of unnecessary items.

7. Consider Your Closets
The better organized a closet, the larger it appears. Now is the time to box up those unwanted clothes and donate them to charity.

8. Make Your Bathroom Sparkle
Bathrooms sell homes, so let them shine. Check and repair damaged or unsightly caulking in the tubs and showers. For added allure, display your best towels, mats, and shower curtains.

9. Create Dream Bedrooms
Wake up prospects to the cozy comforts of your bedrooms. For a spacious look, get rid of excess furniture. Colorful bedspreads and fresh curtains are a must.

10. Open up in the Daytime
Let the sun shine in! Pull back your curtains and drapes so prospects can see how bright and cheery your home is.

11. Lighten up at Night
Turn on the excitement by turning on all your lights – both inside and outside – when showing your home in the evening. Lights add color and warmth, and make prospects feel welcome.

12. Avoid Crowd Scenes
Potential buyers often feel like intruders when they enter a home filled with people. Rather than giving your house the attention it deserves, they’re likely to hurry through. Ideally ensure that you vacate your home for any home showings. Buyers will feel more at home in an empty home.

13. Watch Your Pets
Dogs and cats are great companions, but not when you’re showing your home. Pets have a talent for getting underfoot. So do everybody a favor: Keep Kitty and Spot outside, or at least out of the way.

14. Think Volume
Rock-and-roll will never die. But it might kill a real estate transaction. When it’s time to show your home, it’s time to turn down the stereo or TV.

15. Keep a Low Profile
Nobody knows your home as well as you do but the Real Estate Professional accompanying the buyers know what they need and what they want. If you absolutely need to stay home for a showing, do your best to stay in the background.

16. Don’t Turn Your Home into a Second-Hand Store
When prospects come to view your home, don’t distract them with offers to sell those furnishings you no longer need. Whether it’s the kitchen table, bar stools or a lamp.

16. Adjust the price of your home to the market conditions
When you initially list your home for sale you decide on a reasonable list price with your Realtor. If you do not get any offers in 30 days and there are few showings you have to look at your price. You can do all the above mentioned things but if your price is too high no one will buy your home. Look at recent sales that compare to your home, as comparing your home to other homes currently for sale poses a very simple problem; the other homes also are not selling. Ultimately price will sell your home.

If you’ve covered these 17 points in the sale of your home, you may have to ask yourself “what is our Realtor doing?” We suggest the following questions:
1. Where are you advertising my home?
2. What has been the feedback on the showings?
3. How many hits are we getting on line?
4. How do you feel our price is compared to other homes like ours?
5. What do you have planned for marketing our home in the next 30 days?

There are many important things that have to be done by both the listing Realtor and the home seller when selling a home. Ensure that you and your Realtor have the same expectations.

Click here for a free, no-obligation online home evaluation.

This article appeared in the New Home Buyers Guide included in the Kamloops this Week dated November 24, 2010.

The construction industry in Kamloops continues to roll along as the number of new-home starts for the month of October outpaced the total in the same month last year.

According to new figures from the Canadian Mortgage and Housing Corporation, there were 23 housing starts in the Tournament Capital last month, compared to 18 in October 2009. The 28 per cent increase in starts eclipsed other cities in the region, including Kelowna and Vernon, which saw a 25 and 67 per cen decrease respectively.

That brings the total number of single-family housing starts in Kamloops in 2010 to 314, up from 134  the previous year, which is a significant increase. Once again, those numbers are the highest in the region, as other Interior cities are experiencing increases of between 50 and 75 per cent in single-family housing starts.

However, the city is slightly off last year’s pace for multi-unit construction starts. With two months left in the year, there has been 209 multi-unit starts in the Tournament Capital, down from 217 the previous year.

Overall, the number of total units built in Kamloops this year is up, to 523 from 351 in 2009.

This Saturday, November 27 and Sunday, November 28, 2010 open houses will be held in Batchelor Heights, Brocklehurst, Juniper Ridge, North Kamloops and Valleyview.

Kamloops Homes For Sale Real Estate MLS Listings 2620 Briarwood Ave West Briar Estates Saturday, November 27th, 2010: 11:30-1:00: 2620 Briarwood Avenue, Brocklehurst, $427,900

Beautiful custom four level split home in West Briar Estates. There are 4 lg bedrooms and 3 full baths. The main great room area has high 16 ft vaulted ceilings & numerous windows. There is a beautiful mountain view from the kitchen, dining room, great room & patio. more

Kamloops BC Home for Sale 1795 Knollwood Cres Valleyview KamloopsSaturday, November 27th, 2010: 11:00-12:30: 1795 Knollwood Drive, Valleyview, $340,000

This great Valleyview family home is located in a highly sought after location near schools, transportation, shopping and within minutes of downtown Kamloops. The property is 12, 000 square feet, and has tons of room for a large detached shop and/or pool. more

Juniper Heights Ridge Benchlands Kamloops 2900 Cheakamus Place Saturday, November 27th, 2010: 1:30-3:30, 2900 Cheakamus Place, Juniper Heights, $899,500

Immaculate 2 year old Juniper Heights Benchlands executive bungalow with over 4,300 square feet of living space. Bright open design featuring a large gourmet kitchen with stainless steel appliances, granite counter tops and custom finishing. more

kamloops real estate 25 Edward kitchen north mls listingsSunday, November 28th, 2010: 12:00-1:00: 25 Edward Street, North Kamloops $39,900

Three bedroom home steps from McArthur Island Park. Centrally located near shopping, recreation & transportation. Large yard, air conditioning & all appliances included. more

Kamloops Real Estate MLS Listings 7-900 Stagecoach Batchelor Heights The Views Sunday, November 28th, 2010: 1:30-3:00: 7-900 Stagecoach Drive, Batchelor Heights $329,900

This is a bright and spacious detached home in The Views at Saddleback. There are two bedrooms, but could easily be a three bedroom home. There are two full baths and the master bedroom has a cheater ensuite. more

Click here to view more pictures of these homes.

To view all homes for sale in Kamloops click here.

This Saturday November 20th and Sunday, November 21st, 2010 open houses will be held in Aberdeen, Upper Sahali and South Kamloops West End.

Kamloops Home For Sale 2090 Van Horne Drive AberdeenSaturday, November 20th, 2010: : 2090 Van Horne Drive, 11:30-1:00, Aberdeen, $379,900

Private & spacious 3 level split home in Aberdeen. There are 5 bedrooms & 3 bathrooms, including 1 ensuite. Recent updates include outside vinyl paint w/ a 20 year warranty, kitchen counter, tile flooring & 95% efficiency furnace. more

Kamloops Home Sale 490 Garibaldi Drive Upper SahaliSaturday, November 20th, 2010: 1:30-3:00: 490 Garibaldi Drive, Upper Sahali, $319,900

Solid Sahali home in nice & quiet family area. Huge fenced yard & lots of parking. Numerous updates include roof, paint, flooring, bathroom, kitchen, newer appliances & more. Large sundeck more

Kamloops Real Estate Homes for Sale 526 Battle Street West

Sunday, November 21st, 2010: 1:30-3:00, 526 Battle Street West, South Kamloops West End $419,900

Centrally located in the South Kamloops West End, has a 2 bedroom inlaw suite & is close to shopping, transportation & TRU. Everything has been updated, roof, heat pump, furnace, HW tank, paint..more

Click here to view more pictures of these homes.

To view all homes for sale in Kamloops click here.

kamloops real estate 25 Edward kitchen north mls listingsThree bedroom home steps from McArthur Island Park. Centrally located near shopping, recreation & transportation. Large yard, air conditioning & all appliances included. Updates include laminate floors, sealed roof, carpet, window coverings. Park does not sign site lease, no rentals & pet restrictions. Call for your appointment today. Quick possession.

Click here to view more pictures of this home.

To view all homes for sale in Kamloops click here.

OTTAWA – November 15th, 2010 National resale housing activity rose for the third consecutive month in October 2010, according to statistics released by The Canadian Real Estate Association (CREA).

Seasonally adjusted national home sales activity via the Multiple Listing Service® (MLS®) Systems of Canadian real estate Boards climbed 4.6 per cent in October 2010. The monthly rise in activity builds on similar increases in August and September. As a result, activity now stands 13.3 per cent above July levels, when it reached this year’s low point. Three-quarters of local markets posted monthly increases in seasonally adjusted activity in October, led by Toronto and Vancouver.

As further evidence that the market is returning to normal, sales activity in October stood halfway between the recessionary low reached in December 2008, and the record level activity posted in December 2009.

Actual (not seasonally adjusted) national sales activity in October 2010 was 21.6 per below levels for October 2009, when activity set a new record for the month.

National sales activity rebounded last year without a single monthly decline and hit record levels in the second half of 2009. As a result, large declines in activity compared to year-ago levels are masking recent monthly gains in national sales activity. Record level activity late last year is expected to continue stretching year-ago comparisons over the rest of 2010 (Exhibit 1).

Read the rest here. Link

But CMHC predicts sales to slow in 2011.

The Canadian housing resale market was almost five per cent more active in October compared to the previous month, the Canadian Real Estate Association says.

The 4.6 per cent increase in sales on the agency’s Multiple Listing Service follows similar rises in September and August. As a result, activity is 13.3 per cent higher compared to July, the low point for 2010.

“National sales activity is now running almost halfway between the highs and lows posted between late 2008 and late 2009,” CREA chief economist Gregory Klump said. “This suggests that the Canadian housing market may be starting to normalize.”

On a yearly basis, sales remained 21.6 per cent below the level of October 2009, the most active October ever for home sales.

The national average price for homes sold in October 2010 was $343,747, up less than a percentage point compared to a year ago. October was the fourth consecutive month in which the average resale price has remained roughly even with year-ago levels, suggesting a balanced market.

“After the wild roller-coaster ride that many housing markets have been on, normal and stable market conditions are something that many buyers and sellers will likely welcome,” Klump said.

There was 6.2 months worth of housing stock inventory at the end of the month, the group said. Inventory describes how long it would take to sell off all the homes available based on current buying patterns. In September, the figure was 6.5 months.
Housing starts to slow

At the same time, Canada Mortgage and Housing Corp. reported Monday that housing starts are expected to slow in the last three months of 2010 and fall in 2011 from 2010 levels.

The federal housing agency predicted housing starts in the final quarter of 2010 will be in the range of 176,700 to 194,700 in 2010, or approximately 186,200.

In 2011, housing starts will be in the area of 148,000 to 202,300 units, or approximately 174,800 units.

“High employment levels and low mortgage rates will continue to support demand for new homes in 2011,” CMHC chief economist Bob Dugan said in a release.

“Nevertheless, housing starts will decrease to levels are more in line with long term [population growth] next year,” he said.

The agency predicted sales of existing homes also will be lower in 2011.

It forecast sales in the range of 423,800 to 455,900 in 2010, or approximately 440,300 units.

The next year, it estimated, sales will be from about 390,600 to 483,700, or about 438,400.

Link

On Saturday November 13th and Sunday November 14th, 2010 we will be holding open houses in Batchelor Heights, Upper Sahali, South Kamloops (including the West End), Valleyview and Westsyde.

Kamloops Real Estate 7-900 Stagecoach Batchelor HeightsSaturday, November 13th, 2010: 11:00-12:30: 7-900 Stagecoach Drive, Batchelor Heights $334,900

This is a bright and spacious detached home in The Views at Saddleback. There are two bedrooms, but could easily be a three bedroom home. There are two full baths and the master bedroom has a cheater ensuite. more

B23-220 G & M  living room kamloops real estate home for saleSaturday, November 13th, 2010: 11:00-12:00, B23-220 G&M Road, South Kamloops, $147,900

This 2 year old mobile home has over 900 square feet of living space with 2 bedrooms & 1 large bathroom. There is an open floor plan from the kitchen to the living room w/ vaulted ceilings & a bay window. Outside there is RV parking, large sundeck, fully fenced yard more.

152-2400 Oakdale mobile home kamloops westsyde bcSaturday, November 13th, 2010: 12:30-1:30, 152-2400 Oakdale Way, Westsyde $64,900

Bright & tidy home in the popular Oakdale mobile home park. There are three bedrooms with a large rec room and a four piece bathroom with a jacuzzi tub. Recent updates incl. fresh paint, some flooring, roof, windows, doors, HW tank, new fridge & stove. more

Kamloops Real Estate 526 Battle Street West Saturday, November 13th, 2010: 2:00-3:30, 526 Battle Street West, South Kamloops West End $419,900

Centrally located in the South Kamloops West End, has a 2 bedroom inlaw suite & is close to shopping, transportation & TRU. Everything has been updated, roof, heat pump, furnace, HW tank, paint..more

Kamloops House 1795 Knollwood Cres Valleyview KamloopsSunday, November 14th, 2010: 11:30-1:00: 1795 Knollwood Drive, Valleyview, $340,000

This great Valleyview family home is located in a highly sought after location near schools, transportation, shopping and within minutes of downtown Kamloops. The property is 12, 000 square feet, and has tons of room for a large detached shop and/or pool. more

Kamloops Home For Sale 490 Garibaldi Drive Upper SahaliSunday, November 14th, 2010: 1:30-3:00: 490 Garibaldi Drive, Upper Sahali, $319,900

Solid Sahali home in nice & quiet family area. Huge fenced yard & lots of parking. Numerous updates include roof, paint, flooring, bathroom, kitchen, newer appliances & more. Large sundeck more

Click here to view more pictures of these homes.

To view all homes for sale in Kamloops click here.

Kamloops For Sale 17-1440 Ord RdTwo bedroom, one bathroom spacious home in Sunnyside Mobile Home Park in Brocklehurst. Open floor plan in the living room, dining room and kitchen with a vaulted ceiling. Private yard that is landscaped with a large deck and storage shed. The park does not sign site leases and will allow pets with restrictions.

Click here to view more pictures of this home.

To view all homes for sale in Kamloops click here.

The Kamloops and District Real Estate Association has posted it’s latest statistics for October 2010. The number of residential sales has dropped in comparison to October 2009 (229 units in 2009 vs. 146 units in 2010). The median sale price is also down significantly from last month. However, the median sale price can easily be affected by a large volume of high priced home sales. Click on the images below to enlarge.

Comparative analysis by property type October 2010 Kamloops Real Estate Statistics

Kamloops Real Estate Comparative Analysis By Property Type October 2010

MLS Activity October 2010 Kamloops Real Estate Statistics

Kamloops Real Estate MLS Activity October 2010

Sales by Subarea October 2010 Kamloops Real Estate Statistics

Kamloops Real Estate Sales by Subarea October 2010

On November 7th and 8th 2010 open houses will be held in Aberdeen, Batchelor Heights, Brocklehurst (West Briar Estates) and Valleyview.

Kamloops Open House 2620 Briarwood Ave West Briar EstatesSaturday, November 6, 2010: 10:30-12:30: 2620 Briarwood Avenue, Brocklehurst, $434,900

Beautiful custom four level split home in West Briar Estates. There are 4 lg bedrooms and 3 full baths. The main great room area has high 16 ft vaulted ceilings & numerous windows. There is a beautiful mountain view from the kitchen, dining room, great room & patio. more

Kamloops Property 1795 Knollwood Cres ValleyviewSaturday, November 6, 2010: 1:00-2:00: 1795 Knollwood Drive, Valleyview, $340,000

This great Valleyview family home is located in a highly sought after location near schools, transportation, shopping and within minutes of downtown Kamloops. The property is 12, 000 square feet, and has tons of room for a large detached shop and/or pool. more

Kamloops Property For Sale 2090 Van Horne Drive AberdeenSunday, November 7, 2010: : 2090 Van Horne Drive, Aberdeen, $379,900

Private & spacious 3,200 square foot, 3 level split home in desirable Aberdeen. There are 5 bedrooms & 3 bathrooms, including one ensuite. Recent updates include outside vinyl “chic” paint with a 20 year warranty, kitchen counter, tile flooring & 95% efficiency furnace. more

Kamloops Property 7-900 Stagecoach Batchelor HeightsSunday, November 7, 2010: 1:30-3:00: 7-900 Stagecoach Drive, Batchelor Heights $339,900

This is a bright and spacious detached home in The Views at Saddleback. There are two bedrooms, but could easily be a three bedroom home. There are two full baths and the master bedroom has a cheater ensuite. more

Click here to view more pictures of these homes.

To view all homes for sale in Kamloops click here.

Kamloops Real Estate 540 Marriott Road Heffley Beautifully renovated doll house on huge 0.6 ac rural lot with detached workshop (14 X 22) that has a 336 square foot loft. This two storey home features new vinyl siding, newer roof & soffits, new interior/exterior doors, new windows, tile, laminate, and paint throughout, new countertops & remodeled bathroom. Located 15 minutes from Kamloops city centre, 30 minutes from Sun Peaks ski resort and 15 minutes to local lakes. Take in the peace and quiet and enjoy the sound of your very own babbling brook from your covered wraparound deck. This is a solid 80+ year old home and the foundation is rock and mortar. There are two access to this property, off Marriott & Lister Roads.

Click here to view more pictures of this home.

To view all homes for sale in Kamloops click here.