January 2012

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327 Royal Ave river front Property Kamloops BCRiverfront home minutes from downtown Kamloops with self contained inlaw suite. Many recent updates include: roof (4 years), h/w tank (3 years), all windows, all external doors, flooring, paint, bathroom in suite, window coverings and some appliances. There are 3 bedroom son the main floor and 2 bedrooms in the basement. Shared laundry on the main floor. This home is very well kept and shows well. The yard is fully fenced, and has beautiful views of the river and hills. There is a garden area, walnut trees and pear tree. Many nearby properties have private docks, which is a possibility for this property.

Click here to view more pictures of this home.

Click here to view the video tour.

To view all homes for sale in Kamloops click here.

This article appeared on CBC.ca on January 25th, 2012.

Year of the Dragon Chinese New Year 2012Real estate agents in and around Vancouver are expecting big things this week, thanks to the Lunar New Year, which is typically a great time for sales.

Real estate agent Malcolm Hasman showed four Chinese families through a $7.8 million mansion in West Vancouver on Tuesday. The home has panoramic views, two kitchens and even a heated driveway.

“In the last two days, I’ve had non-stop telephone calls from all the top Chinese agents in the city to show my properties,” Hasman said.

Hasman said the beginning of the Lunar New Year is always a busy time for Chinese buyers, but this year is busier than most.

With recent volatility in the stock market, buyers could be even more eager to invest in property, said Melanie Briggs, of MAC Marketing.

“Based on what we’ve seen in years past in our downtown projects, we’ve definitely seen at least double the volume of sales,” said Briggs. “So I wouldn’t be surprised if we were to see triple the number of sales.
Dragon heats things up

The fact that 2012 is the Year of the Dragon is likely also stoking the market, according to Duanduan Li, an Asian Studies professor at the University of B.C.

“People like to choose an auspicious moment, dates and years to do big things because they think this will be more successful,” said Li. “I think the Year of the Dragon is regarded as a very good year to do anything big.”

“Big” in this context could include career changes, having children, said Li. And perhaps spending millions of dollars on real estate.

The dragon is one of a 12 animals represented chronologically in the Chinese zodiacal system. The Year of the Dragon returns in 2024. Next year will be the Year of the Snake.

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This article appeared on the Globe and Mail on January 23rd, 2011 and was written by Ted Rechtshaffen.

A few months ago I heard leading Canadian investor Eric Sprott speak, and he said a very basic thing that struck a chord. He said that you should not be afraid to connect the dots. The dots are usually in front of you, but people don’t often look beyond the single dot.

Today I am going to show six dots that we can all see. When we connect them, the conclusion is that the Canadian Mortgage and Housing Corp. (CMHC) has a realistic chance of putting the Canadian taxpayer at risk – unless meaningful changes are made.

The key piece of background is that right now, a young couple can put down $20,000 to buy a $400,000 house, or five per cent of the purchase price. Their mortgage will be insured by CMHC (the Canadian government, also known as you and I) in exchange for a fee paid by the young couple.

If that $400,000 house drops in value by 20 per cent, for example, which has happened before in Canada, it will be worth $320,000. But the couple will owe $380,000. Then the odds of them walking away from their house or defaulting on their mortgage become meaningful. Given that this young couple might be in the same position as 50,000 other young couples (about 3 per cent of the Canadian population) at roughly the same time, the odds of a surge in mortgage defaults is very real in Canada.

Here are the dots or facts that we can all see:

Dot #1: “The greatest risk to the domestic economy is household debt,” Bank of Canada Governor Mark Carney said in an interview with the CBC last week, again sounding the alarm bell on excess borrowing.

Dot #2: The ratio of credit market debt to personal disposable income rose to a record high of 150.8 per cent in the third quarter of 2011, Statistics Canada said last week, the third-straight quarter the figure has gone up.

Dot #3: Last week, Bank of Montreal offered a five-year mortgage rate of 2.99 per cent. The lowest rate offered in history. Yes, this rate is available to those interested in putting down 5 per cent.

Dot #4: Fannie Mae and Freddie Mac, two U.S. organizations started in 1968 as a government sponsored enterprise (although they became privately owned and operated by shareholders) – have a mandate to help Americans to become homeowners by increasing liquidity for housing lending, and where appropriate, taking on risk. These two organizations were bailed out by the U.S. government in 2008 after the housing market deflated and it is estimated that their bailout will eventually cost taxpayers as much as $124-billion (U.S.) through 2014. When the housing bubble burst in the U.S., the value of many houses fell by 50 per cent.

Dot #5: In November, the Economist magazine said that Canada is among nine countries in the world where house prices are overvalued by 25 per cent or more. It went on to say that Canada is one of only three countries where “housing looks more overvalued than it was in America at the peak of its bubble.”

Dot #6: CMHC is Canada’s national housing agency. Established as a government-owned corporation in 1946 to address Canada’s post-war housing shortage, the agency has grown into a major national institution. CMHC backed loans of $541-billion (Canadian) as of Sept. 30, 2011. At that time, the total equity of CMHC was $11.5-billion. This is 2.1 per cent in equity against its overall loan exposure. To put the $541-billion in perspective: If we go back to those imaginary 50,000 couples that bought a $400,000 house and put down $20,000, that represents $19-billion of mortgages.

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This article appeared in the Globe and Mail on 23rd of January, 2011 and was written by Dawn Walton. I thought this would be a good article for people who are considering buying a home in Kamloops. These low interest rates definitely make homes that may be slightly out of reach more tempting.

Household debt numbers are staggering, yet Canadians continue to pile it on lured by super-low interest rates.

But do consumers appreciate the true cost of borrowing? Not always, according to Adrian Mastracci, portfolio manager with KCM Wealth Management Inc. in Vancouver.

“We see a lot of people saying, ‘Oh my God. These rates. They are just giving them away.’ And they are – practically,” he explained, “But it is very easy to get yourself into thinking, I can afford this no problem not realizing that one day the piper is going to come knocking at the door and you’re going to have to pay a heck of a lot more.”

Taking on mortgage debt, which accounts for 69 per cent of total household credit, is particularly tantalizing right now as many big banks are offering 2.99-per-cent fixed-rate mortgages, the lowest ever.

Meanwhile, for the 11th consecutive time, the Bank of Canada left its key interest rate at 1 per cent, which marks the longest pause in rate hikes since the mid-1990s.

But at the same time, Federal Finance Minister Jim Flaherty and Bank of Canada Governor Mark Carney have been warning Canadians about taking on too much debt. Still, expectations are that household debt, loaded on by mortgages, credit cards, lines of credit and car loans, will continue to rise even though it is already at record levels.

In the third quarter, the debt-to-income ratio soared to 152.98 per cent, according to Statistics Canada. It’s been steadily marching toward the 160-per-cent barrier, a level that triggered trouble for the United States and the United Kingdom a few years ago.

“You still have to earn money, pay tax, and have enough money after tax to pay your loan, whatever it is, in whatever [tax] bracket you’re in,” Mr. Mastracci said.

Consider the implications of a non-deductible 5-per-cent loan.

For borrowers in the 35-per-cent tax bracket, consumers would need to earn 7.7 per cent to pay income taxes and still have 5 per cent left to cover the loan interest. For those in the 25-per-cent tax bracket, it would require 6.7 per cent earnings, while those in the 45-per-cent bracket, earnings would have to ring in at 9.1 per cent.

But what about those ultra-low mortgages?

“Don’t get lulled into saying ‘this is really cheap,’ ” Mr. Mastracci said, “It isn’t. Even at 3 per cent, you still have to earn 4.6 per cent – or thereabouts – in order to pay that 3 per cent after you pay the tax.”

Here are some borrowing tips:

  • Don’t borrow more than you need, repay what you can fast and use any savings from getting a low rate to repay loans
  • Shop around, negotiate and don’t take no for an answer
  • Select the shortest amortization and most frequent payback you can afford
  • Place emergency funds in an institution that you don’t owe money

Mr. Mastracci, who expects interest rates to start climbing in a year or so as the economy improves, noted that loans are the biggest impediment to retirement.

“The more debt you take on, the harder is to get out from under and ultimately save for retirement,” he said, “Just make sure you can afford it, that your cash flow can stand it.”

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McLure BC Real Estate 348 WalterdaleGreat 3 bedroom 2 bathroom home in McLure sitting on a 2.29 acre lot. McLure is a short 25 minute drive north of Kamloops. This home has over 1,000 square feet of living space and has an open floor plan in the living room, kitchen and dining room. The large master bedroom has a full 4 piece bathroom. The two spare rooms are also quite large and are situated beside the second 4 piece bathroom. Recent updates are a wood burning stove, flooring, paint, new 12 X 30 deck and more. There is a good size storage shed. The lot is partially fenced, is mostly flat and would be a great place to set up a hobby farm or it has room for horses. There is enough wood on this property to heat the home for years to come. There are views of the North Thompson river from the home and patio. Call for your appointment today.

Click here to view more pictures of this home.

To view all homes for sale in Kamloops click here.

25-1221 Hugh Allan Dr Aberdeen Real Estate MLS Listing

Great two storey townhouse with two spacious bedrooms, large open living space, laminate flooring & a view. The kitchen has updated countertops, painted cabinets, hardware, tile floors, appliances & a dishwasher. There is a laundry room off of the kitchen that has updated flooring. Large patio off of the dining room to enjoy the city & mountain views. The second storey has a large storage closet, two bedrooms & the main bathroom. The master bedroom has tons of closets & a private covered patio. Recent updates include a new furnace/air conditioning unit ($5000), new hot water tank, updated paint & tile foyer. The main entrance has an under stairs storage area. Owner occupied home, day before notice is appreciated re: dog. There are no rental restrictions in this complex & there is a pet restriction (1 dog or 2 cats).

To view all homes for sale in Kamloops click here.

Kamloops Heritage Home for Sale PropertyDowntown living Heritage Style Diamond in the Rough. This home has panoramic views. 10ft ceilings in dining & living rooms. Both dining & living rooms are extremely open & spacious. Nice enclosed front porch & entryway. Updates have been done to the main bathroom, hot water tank, central furnace & plumbing. The comfortable family room could be used as a master suite as it has adjoining bathroom or restore it to the bachelor/1 bedroom suite it once was. This home also comes with a beautiful fully terraced yard (not your usual downtown postage stamp). The gardens & patio make for breathtaking outdoor living. The home has been designed with handicap access as well. This home does have a 1 car garage/shop & loads of additional parking. It does require some love & attention, but for the discerning buyer it is loaded with potential.

Click here to view more pictures of this property.

To view all homes for sale in Kamloops click here.

331 Willow St Chase Real Estate MLS listingsCozy bungalow on quiet street with lots of character. Two bedrooms & 1 full bathroom, updated laminate floors & paint, gas fireplace, private fenced yard and workshop. The yard has a garden, water feature with pond, fruit trees and separate dog run. The basement is partially finished with a rec room perfect for movies, laundry room and lots of storage. The roof is 8 years old, updated furnace and hot water tank (within the last 4 years). Tons of parking, very close to golf course, waterfront and shopping. Day before notice for showings appreciated.

Click here to view more pictures of this property.

To view all homes for sale in Kamloops click here.

Saturday, January 21st and Sunday, January 22nd, 2012 open houses will be held in Brocklehurst, Kamloops.

80-1655 Ord Road Brocklehurst Kamloops For SaleSaturday, January 21st, 2012: 1:30-3:00: 80-1655 Ord Road, Brocklehurst $124,900

Immaculate 11 year old home with open concept living. Vaulted ceilings, new interior doors, updated countertops & tile backsplash in kitchen. The bedrooms are very large & spacious with oversize closets. more

58-1697 Greenfield Glenwood Townhouses Kamloops BrocklehurstSaturday and Sunday, January 21st and 22nd, 2012: 12:00-1:30: 58-1697 Greenfield Avenue, Brocklehurst, $199,900

Court order sale. Centrally located Brock townhouse with 3 bedrooms, and 2 full bathrooms. Updated kitchen, bathrooms, some new vinyl windows, large storage area, private yard. more

964 Ryan Pl Brocklehurst Home For Sale KamloopsSunday, January 22nd, 2012: 1:30-3:00: 964 Ryan Place, Brocklehurst, $319,900

Immaculate Brock home on a large lot with many updates. Open great room floor plan on the main floor that features a large gourmet kitchen with stainless steel appliances & a large island, new flooring, paint & light fixtures. more

Click here to view more pictures of this home.

To view all homes for sale in Kamloops click here.

41-1900 Hugh Allan Drive Northgate Kamloops Pineview Real Estate41-1900 Hugh Allan Kitchen Northgate Pineview Kamloops Real EstateImmaculate two story end unit with lots of upgrades and fully finished basement. Three bedrooms and four bathrooms that has a large laundry room on the second level with the bedrooms. Extras include tile backsplash in kitchen, custom closet organizers in all closets, tile around bath tubs, custom window coverings, kitchen appliances 1 month old, fully finished basement with large rec room, 4 piece bathroom and daylight walkout basement with lots of natural light. This home is like new, 1 car garage with extra parking outside the unit. Low strata fees and home warranty in effect. March 30 or later possession and washer/dryer do not stay. You won’t find a nicer unit in this complex. Within steps of transportation, walking trails and minutes to shopping.

To view all homes for sale in Kamloops click here.

1580 Monte Creek Road Monte Lake Kamloops PropertyMust see! Mountain & creek views, animal lovers dream. Prime location 20 minutes from Kamloops city centre. Many features of the property include detached 30×24 shop, a barn and many outbuildings on just under 5 acres. The home has over 3,400 square feet of living space with a huge hobby room open for your ideas. There are four bedrooms and three bathrooms, main floor laundry, tons of storage and two large rec rooms.  There is lots of parking for RV’s and toys.

Click here to view more pictures of this property.

To view all homes for sale in Kamloops click here.

701 Wittner Rd Kamloops Riverfront Property For Sale701 Wittner Rd View Riverfront Real Estate KamloopsSpacious riverfront heritage home sitting on 3.9 acres. 900+ feet of south Thompson riverfront on the deep canal of the river.

There is over 3,200 square feet with 3 bedrooms, 3 bathrooms, a large living room and dining room on the main floor and a rec room on the second level that could be converted to two other bedrooms. There is also a large finished attic space great for a kids play room. There is enough room on the main floor to put in a den/office/bedroom.

Updates include granite island in kitchen, hardwood floors on main and roof approx 12 years.The kitchen has heated tiles and is very large – great for the chef in the family. There is a small family room off of the kitchen, spacious nook overlooking the river and laundry room.

This home comes with all appliances, the dock and hot tub. 2 car garage. Endless views of the mountains and river. Rivershore golf course is within minutes, fish right off of your dock or boat to the Shuswap Lake in the warmer months.

This property would be ideal for a hobby farm, horses, dog kennel or B & B so bring your ideas. A detached shop or carriage house could be built easily on this flat property. Call for more details.

Click here to view more pictures of this property.

Click here to view the virtual tour of this property.

To view all homes for sale in Kamloops click here.

This article appeared on CBC.ca on January 13th, 2012 and was written by Pete Evans.

A strong international demand for bonds from Canada’s biggest banks is trickling through the system and pushing mortgage rates to record lows at the consumer level.

The Bank of Montreal moved its five-year fixed mortgage rate to 2.99 per cent late Thursday — the lowest posted rate from a major bank in Canadian history.

BMO announced the rate cut late on Thursday and TD followed suit by lowering their four-year fixed rate to 2.99 per cent on Friday afternoon.

BMO’s offer, which ends Jan. 25, states that lump sum payments are limited to 10 per cent of the principal each year. The mortgage is also based on a 25-year amortization period. TD’s offer is open until Feb. 29, 2012. It’s also for a four-year term, much less common than the standard five-year.

Other banks are expected to follow suit. On Wednesday, Toronto-Dominion Bank reduced its posted six-year rate 132 basis points to 3.79 per cent and lowered the posted seven-year fixed rate 91 basis points to 3.99 per cent.
Access to capital

Borrowers can often negotiate a better rate from a bank based on their credit history, but the posted rate at a bank is seen as the benchmark for its mortgage offerings. The five-year rate is by far the most common term for a first-time homebuyer.

Lower mortgage rates are the results of a broader trend in which international bond investors are gobbling up Canadian offerings at record levels because they’re generally perceived as being safer than bonds from other countries.

“It’s not surprising given that mortgage rate declines have actually been lagging behind falling bond yields,” Queens University real estate expert John Andrew said. “[It's] driven by global economic uncertainty.”

Earlier this month, BMO was able to sell $1.5 billion worth of five-year bonds at a rate of 2.544 per cent. Contrast that with the government of Italy, for example, which sold an offering of bonds with a 4.83 per cent yield on Friday.

Essentially, the bond market considers BMO a better bet than Italy. A lower yield is a sign investors have more confidence in that lender’s ability to live up to the terms of the loan.

“Right now Canada is a function of what’s happening in the global environment,” Mark Kerzner of The Mortgage Group said. “And mortgage consumers are able to benefit from the noise in the rest of the world.”

As Europe’s debt crisis unfolds, investors are fleeing for safety. Canada is seen as a beacon in the financial world, so bond offerings from Canada’s biggest lenders are in strong demand. Cheaper borrowing for the banks has in turn allowed them to seek new customers by cutting their consumer rates.

“There’s a risk premium,” said Nick Mitskopoulos, president of mortgage broker Verico Mortgage For Less in Toronto. “The three-to-five year money is cheaper [but] their short term costs have gone up.”

“Their cost of capital is going up for the short term, but not for the long term.”

Mitskopoulos said other lenders will be hard-pressed to match BMO’s rate, although most will likely lower their rates a bit to compete. At that level, he suggests, BMO might be at a break-even level and is hoping to make gains from new customers through lines of credit.

Fixed-rate mortgages are closely tied to what’s happening in the bond market, as that’s how the banks finance their lending. Variable rate mortgages are more closely linked to the Bank of Canada’s rate.

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This article appeared in the Vancouver Courier and was written by Royal Lepage City Centre Realtor Deb Abbey. The strata rules will also be applicable for Kamloops condos, townhouses and stratified properties. The changes are welcomed as it is always important that both the sellers and buyers are thoroughly informed. Article below:

2012 brings long awaited reform to the Strata Property Act that will provide greater security for more than one million strata property owners in the province.

But the biggest beneficiaries of the new regulations will be prospective buyers. Buying a condominium is a complex process in B.C. with buyers and their real estate agents playing the role of real estate detectives trying to suss out information about the state of the building envelope or running down maintenance and engineering reports trying to assess the true value of the property given any potential liabilities.

Until now, there haven’t been many, if any, safeguards for purchasers of condos that have been badly built or managed by their owners. Poor maintenance, inadequate or no budgeting for future repairs and replacements, and little or no transparency in terms of liabilities are issues with many strata corporations in Vancouver. That is about to change.

Among the changes, strata corporations will be required to prepare a depreciation report. The report will include a physical inventory of the strata’s common property including building systems such as the building envelope, roof, pipes and boilers. The report will also include an estimate of the cost of anticipated maintenance, repair and replacement of those common property items projected over 30 years.

And most important to prospective buyers, the strata corporations will be required to prepare financial forecasts of how the strata will fund those expenses from the contingency reserve fund or special levies. The report will have to be updated every three years and include an onsite inspection. The new regulations will be effective immediately but stratas will have two years to comply.

As a potential buyer, you’ll be provided with a copy of the most recent version of this report along with the Form B. Unfortunately, there’s a catch. Short-sighted stratas will be able to exempt themselves from this requirement with an annual 3/4 vote.

As a real estate agent, I hope that our industry widely adopts this report as a tool to assess risk and attribute value to the quality of management in strata corporations. Given the opportunity to buy or own a property that has future risk quantified and accounted for in this way, I know that I’d recommend those properties that have depreciation reports to my clients. The old adage “if you don’t measure it, you can’t manage it” has never been more appropriate.

Contingency reserve funds [CRF] have also gotten a boost from the new regulations. In the past, a 3/4 vote was required to make contributions to the CRF if it already exceeded 100 per cent of the annual operating expenses. The new regulations will allow strata corporations to make additional contributions to the CRF, once it reaches 25 per cent of the annual operating expenses, with a simple majority vote as part of the budget at the AGM.

This may sound like an insignificant bit of regulation but many stratas with looming expenses such as new roofs, windows or re-piping do not contribute enough to their CRFs to cover those costs and then have to levy significant special assessments that have condo owners rushing out to secure second mortgages.

And finally, there will be regulations requiring Form B to provide better disclosure to new strata owners. As of March 1, the rules and current budget of the strata corporation, Form J [the Rental Disclosure Statement] and the most recent Depreciation Report, will have to be attached to the Form B. The amendments will also require disclosure of how parking stalls and storage lockers are allocated to strata lots.

The changes fall short of the recommendations put forward by the British Columbia Real Estate Association and others. They don’t go nearly far enough in insulating prospective buyers from badly built or managed condos, but they will increase accountability and transparency for owners and potential buyers.

There’s bound to be some fallout from these regulations. The requirement to provide the depreciation report will be financially onerous for some strata corporations. Especially those with owners who qualified for mortgages with a minimum down payment and are just barely able to pay their strata fees as it is. I hope that the government recognizes that this will be a hardship and arranges some kind of low-interest financing tool so that as many stratas as possible can comply with the new regulations.

In terms of the market, I expect mortgage insurers and lenders will quickly adopt guidelines that give preference to strata corporations that are measuring and managing their risk. Over time, this will mean strata buildings that provide more disclosure will sell at a premium to those that don’t. And they’ll be worth it.

This article was written by Jeremy Deutsch of Kamloops This Week on January 17th, 2012.

After sitting idle for more than a year, a controversial condo development has a new owner with a mission. An Edmonton-based real-estate company has been hired to complete construction of the stalled Mission Hill​ development in the West End.

Officials with Brentwood Developments have met with the city’s building department a couple of times to get the project restarted.

David Trawin, director of development and engineering services, said the company has told the city it wants to get phase one of the troubled project complete and sold. “We feel like it’s moving along like any other normal development at this time,” he told KTW, describing the initial meetings as positive. “From our perspective, it feels like it will get done.”

In October 2010, New Future group filed for protection from its creditors under the Companies Creditors Arrangements Act, the legislation that allows for a restructuring plan to be created. The group of companies, which is headed by Kamloops developer Mike Rink, owed a reported $80 million on projects, including Mission Hill. But, after more than a year under the protection of a court-ordered monitor, a financial firm from Toronto foreclosed on the property at the end of December. The move leaves Rink out of the development.

Mission Hill still has some hurdles to clear before it gets to the market. Trawin explained the city still needs to sign off on an amended development permit and occupancy permit, while the project still must become a strata before units can start to sell.

The amended development permit originally submitted by Rink looked to change some of the amenities in the development. Specifically, part of the plan was to build a pool in the first phase, but a geo-technical study concluded it wouldn’t work.

Trawin said the new company is considering its options, but he noted the amended permit will have to get final approval from city council. He couldn’t provide a timeline for completion of the project.

At the time of the development’s legal troubles, there were concerns from city officials about the state of the first phase, a 60-unit building, while it sat idle and incomplete. Though the city has not inspected the building, relying on inspection documentation from an outside engineer, Trawin is confident the structure is sound. “No red flags have been raised to me by the building department,” he said.

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This article appeared on CBC.ca on January 16th, 2012.

The average price of a Canadian home sold in December was $347,801, just 0.9 per cent higher than the same month a year earlier.

That’s the smallest increase since October 2010, the Canadian Real Estate Association said Monday.

“Momentum for national sales activity and average price remains positive but is slowing,” CREA chief economist Gregory Klump, said. “National average price momentum may wane further over the next few months.”

More than half of all local markets across the country showed a gain, with the remainder showing a small decline. At the local level, big gains were recorded in Saskatoon (up 21 per cent), Winnipeg (up 11 per cent) and Kitchener-Waterloo, which was up 13 per cent.

Stronger gains through much of the year in large cities such as Toronto and Vancouver skewed the overall average higher, CREA said.

Vancouver house prices increased by 15.4 per cent in 2011, while prices in Toronto were 7.9 per cent higher after being above 10 per cent earlier in the year.

Greater Toronto Area sales have consistently gained since the middle of 2010 and are now up by 36 per cent since July 2010, while prices have been mostly flat since April, TD economist Francis Fong noted in a report following the release of the CREA statistics.

Sales activity came in 4.6 per cent above year-ago levels in December. It also stood above the five- and 10-year average for December sales.

The agency reported that 456,749 homes were sold across CREA’s multiple listing service in Canada last year, broadly in line with the average over the last 10 years.

Real estate firm Royal LePage forecast last week that prices in 2012 will increase by an average of 2.8 per cent across the country. That’s ahead of December’s annual pace but well behind some of the rates of return seen in recent months and years.

“We look for both sales and prices to be roughly flat this year,” BMO chief economist Douglas Porter said. “That could be just what the policy doctor ordered, allowing incomes to catch up to higher prices.”

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Westsyde Property for Sale KamloopsNicely updated Westsyde home with Southern views, large yard and in-ground pool. Recent updates include: laminate floors throughout, bathrooms, updated windows, 3 year old pool liner and pump, paint and more. There are custom cabinets in the rec room and main living room for your TV and all it’s components as well as a gas fireplace on the main and wood in the basement. The kitchen overlooks the yard, it features lots of storage and all appliances are included. There are 3 bedrooms on the main floor and currently the master bedroom is in the basement. The master has a large 4 piece ensuite and a custom walk in closet. The master could be on the main floor again for families with small children. Bright, spacious laundry room with washer & dryer included. There is large covered deck over the carport and access to the backyard from the basement. Central vac, wide paved driveway with RV parking. Quick possession possible and easy to show.

Click here to view more pictures of this home.

To view all homes for sale in Kamloops click here.

130 Station Road Heffley Creek Kamloops PropertyGreat home in a quiet area with views of acres of farmland. Bright open floor plan, 3 bedrooms and 1.5 bathrooms. Well maintained home with numerous updates including wood stove, flooring, paint and more. All appliances and window coverings included. Large private yard that is fully fenced and landscaped with fruit trees and a storage shed/workshop. Two covered decks allows you to enjoy nature.The addition was a factory addition and to code. This is a very small quiet park and allows small pets. Park will sign a site lease.

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To view all homes for sale in Kamloops click here.

On Saturday, January 14th and Sunday, January 15th, 2012 the open houses will be held in Brocklehurst, Campbell Creek and Westsyde, Kamloops.

908 Crestline Street Brocklehurst Kamloops Property For SaleSaturday, January 14th, 2012: 11:00-12:00: 908 Crestline Street, Brocklehurst, $269,900

Immaculate home in great location. This one owner home has 3 bedrooms & 3 baths w/potential for a 4th bdrm (large bdrm on 2nd level can be split). Numerous updates – read more.

 

 

58-1697 Greenfield Glenwood Townhouses BrocklehurstSaturday, January 14th, 2012: 12:30-1:30: 58-1697 Greenfield Avenue, Brocklehurst, $199,900

Court order sale. Centrally located Brock townhouse with 3 bedrooms, and 2 full bathrooms. Updated kitchen, bathrooms, some new vinyl windows, large storage area, private yard.

 

 

8905 Badger Drive Campbell Creek KamloopsSaturday, January 14th, 2012: 1:00-3:00: 8905 Badger Drive, Campbell Creek, $470,000

Beautiful Campbell Creek executive 2 storey home. Tons of value in this home with over 3100 sq ft finished, 5 bedrooms and 4 bathrooms. more

 

 

2181 Perryville Pl Westsyde Kamloops HouseSunday, January 15th, 2012: 11:00-12:00: 2181 Perryville Place, Westsyde, $329,900

Immaculate Westsyde home with river views…numerous updates include furnace, hot water tank, central A/C, flooring, kitchen, 2 bathrooms, patio, most windows, external doors, paint, mouldings, more.

 

 

80-1655 Ord Brocklehurst Kamloops HomeSunday, January 15th, 2012: 12:30-1:30: 80-1655 Ord Road, Brocklehurst $126,000

Immaculate 11 year old home with open concept living. Vaulted ceilings, new interior doors, updated countertops & tile backsplash in kitchen. The bedrooms are very large & spacious with oversize closets. more

Click here to view more pictures of this home.

To view all homes for sale in Kamloops click here.

MLS Residential Sales BC Year End 2011
Click to enlarge

Vancouver, BC – January 13, 2012. The British Columbia Real Estate Association (BCREA) reports that the dollar volume of homes sold through Multiple Listing Service® (MLS®) in BC climbed 14.3 per cent to $43.1 billion in 2011. A total of 76,817 homes were sold in BC in 2011, up 2.9 per cent from 2010. The average annual MLS® residential price climbed 11.1 per cent to $561,026 over the same period.

“Low mortgage interest rates and gradually improving economic conditions contributed to a moderate increase in consumer demand last year,” said Cameron Muir, BCREA Chief Economist. “BC home sales came in about on par with their 15-year average, but fell well below their ten-year average of over 88,000 units.”

Vancouver, the Fraser Valley and the North experienced the largest percentage increase in unit sales last year, while consumer demand edged lower in Victoria and on Vancouver Island.

BC residential unit sales in December dipped 1.7 per cent to 4,186 units, while the average MLS® residential price was 2.8 per cent lower than in December 2010.

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This article was written by Jeremy Deutsch of Kamloops This Week on January 9th, 2012.

Despite fears of a double-dip recession and lingering issues with the harmonized sales tax, 2011 turned out to be a pretty good year for construction in the Tournament Capital.

The city handed out $162.5-million in building permits in 2011, which ended up to $40 million more than projected.

David Trawin, the city’s director of development and engineering services, said the year was saved by a strong showing in commercial and industrial development.

The city issued $57-million in commercial/industrial permits in 2011, including another $2.8 million in December, besting the previous year by $7 million.

Conversely, residential construction dropped significantly in 2011.

The city handed out $96-million in permits last year, down from $129 million in 2010.

As for 2012, Trawin is offering a conservative estimate — predicting the city will hit between $130 million and $150 million in permit value.

“I’m considering next year to be an average year for Kamloops,” he said.

However, there are some big projects expected to land on the department’s desk, including permits for a Telus data centre, an Interior Health Authority development in North Kamloops and a new Marriott hotel in Aberdeen, at the site of the former Home Hardware store at Pacific Way and Rogers Way.

Trawin also expects the commercial side of construction to remain strong in 2012.

“Those are the types of building permits that bring jobs into the community,” he said, adding the residential portion will eventually follow and rebound.

Though all the numbers might not mean much to the average Kamloopsian, Trawin noted the engineering department uses the statistics to budget and plan for the year ahead.

A full report on construction activity at city hall in 2011 is expected to be in front of council early this year.

The city has only topped $200 million in permits once — in 2008.

In that year, the city doled out $207 million worth of permits, which was a record.

In a 12-month period between 2009 and 2010, the city handed out $222.5-million in permits for 883 dwelling units.

That proved to be a record.

This article was written by Jeremy Deutsch of Kamloops This Week on January 9th, 2012.

Kamloops Real Estate House Fire SafetyFor some, a mobile home is an affordable alternative to buying a house or an apartment.

But, when a fire breaks out, they can be particularly deadly — especially older mobile units.

“They are a concern to us,” Kamloops Fire Rescue Chief Neill Moroz told KTW.

He said the problems tend to arise in older units that have a wood-panelling finish on the interior, because a fire can spread faster than in new models built with drywall.

Mobile homes in general also tend to be smaller and more confined, which can make it harder to escape, while putting occupants closer to flammable material.

Older units have become such a concern in recent weeks that the B.C. Coroners Service and Office of the Fire Commission have taken the unusual step of issuing safety warnings to owners and operators of mobile-home parks in the province.

The two provincial organizations noted studies that show fires in mobile homes tend to be more devastating than in other forms of housing.

The warnings come after seven people were killed in a five-day span in five separate fires around B.C. at the end of 2011.

One of the fires in Sicamous took the life of a father and his two young children.

Mobile-home fires can also be a challenge for firefighters due to  the speed in which the units burn.

“When a fire reaches a certain point, it’s extremely dangerous for our firefighters to enter,” Moroz said.

There are steps mobile-home owners can take to reduce the fire risk.

Moroz said every unit should have working smoke detectors and occupants should have a way of getting out from every room.

The B.C. Coroners Service has also put together several recommendations, including:

• Have furnaces inspected at least once a year and clean the blower and filters often to prevent overheating.

• Keep the furnace area clear of clutter.

• Ensure electrical wiring and appliances are in good working order.

• Watch for signs of wiring trouble, including flickering lights for no apparent reason; warm, inoperable, strange-smelling or discoloured switch plates or outlets; sparking or electrical arcing; or a blown fuse or tripped circuit breaker.

• Never run extension cords under rugs.

• Avoid the use of space heaters if at all possible. If it is essential to use one, use a CSA-approved model and ensure it is well away from drapes, bedding, clothing and other flammable materials.

• Consideration should be given to replacing wood-based combustible wall coverings with gypsum board products, which slow the progression of fire.

Link

963 13th Street Brocklehurst Kamloops Real EstateGreat Brock bungalow with 2 spacious bedrooms on the main floor and a large two bedroom inlaw suite downstairs. The main floor has a large kitchen, spacious mud room/laundry room and living room. Recent updates include HW tank (6 months), Roof (last 5 years), paint and flooring. There are two parking areas to accommodate all residents and RV parking as well. Fully fenced private yard. Steps from the elementary school, secondary school and transportation. Very close to McArthur Island recreation and shopping. Minimum 24 hours notice for all showings. Tenanted up and down, upstairs tenants pay $1050/month and basement $925/month including utilities.

Click here to view more pictures of this property.

To view all homes for sale in Kamloops click here.

Barriere River BC Real Estate MLS ListingsBarriere is located 45 minutes or 66 kilometers north of the city of Kamloops along the Yellowhead Highway #5.  Barriere officially became a municipality on December 4th, 2007 and has it’s own city centre that has everything you would need. The population of Barriere is approximately 3,000. The main industry in Barriere is forestry but tourism has increased allowing for another industry to emerge. The Thompson Valley Rodeo is one of the events in Barriere that draws quite a crowd. Barriere has a number of lakes in the area to enjoy many that feature white sand beaches.

Barriere properties in and around the city centre are serviced by the Barriere water system. Rural properties, acreages and recreational properties are served by community water systems or private wells. All properties at this point are on a septic system. There are phone, cable and internet services to most areas. There is not any natural gas at this point but there is hydro to the majority of properties.

The Thompson Nicola Regional District (TNRD) manages the solid waste in the area and the District of Barriere offers curbside garbage pick up for some residents depending on location. Barriere does have a dump site on Barriere Lakes Road.

Properties & Real Estate

Barriere BC Acreage Real Estate MLS ListingsBarriere has a range of properties such as mobile homes in a park, a few townhouses and duplex homes, homes on smaller residential lots, small to large acreages and recreational lakefront properties.

Mobile home parks are mainly found near Barriere Town Road in the city centre. There are often a few of mobile homes on the market to choose from.

Barriere townhouse Kamloops BC Real EstateMost of the smaller residential lots are also found close to Barriere city centre. The newest development is found near the corner of Barriere Town Road (Northern access) and the Yellowhead Highway #5. This is where you will find the newest homes as well as serviced lots ready for new homes. Other roads such as Amnesty Road, McLean Road, Gibbs Road, Oriole Way, Deejay Road, Barkley Road, Mountain Road, Dunsmuir Road and Bartlett Road house residential properties that are under one acre in size.

Acreages of all sizes are found all over Barriere and continue towards Darfield and Little Fort which are areas north of the city centre. Barriere Property Acreage MLS Listing Home House Sale KamloopsThere are a  number of these properties found along the Yellowhead Highway but they can also be found on Barriere Lakes Road, Agate Bay Road and Dunn Lake Road to name a few. Alfalfa is the primary crop grown on farms and many properties house cattle and other livestock. Many acreages are located close to Barriere city centre allowing owners to have access to the essentials.

Recreational properties are found mostly on East Barriere Lake Kamloops Real EstateEast and North Barriere Lakes. East Barriere Lake houses more recreational property development than North Barriere. There are a variety of properties on both lakes from resort type strata developments to more private larger lake front lots. Both lakes have public boat launches and white sand beaches. Click the following links for more information about East Barriere Lake or North Barriere Lake. Access to these lakes is along Barriere Lakes Road.

Click here to view homes for sale in the Barriere area.

Shopping & Services

Barriere has it’s own shopping district with a mid sized grocery store , drug store, post office, Liquor store,  Hardware store, Building Supplies Centre, a couple restaurants/fast food, gas stations and other small business. The majority of businesses are found on Barriere Town Road and the Yellowhead Highway.

The closest hospitals to Barriere are either Royal Inland Hospital in Kamloops or Dr. Helmcken Memorial Hospital in Clearwater. There are local health professionals in Barriere such as a Doctor, Massage Therapist and more.

Barriere has many other services such as automotive, computer, internet, financial, churches, etc. Barriere is only about 45 minutes to Kamloops so many residents regularly visit to do large shopping runs and run errands.

Schools

Barriere has an elementary and secondary school. Both schools are located on Barriere Town Road. Click here for more information about the schools in Barriere.

There is also continuing online training @KOOL (Kamloops Open Online Learning) which also offers courses for students kindergarten through to grade 12.

The nearest post secondary school is Thompsons River University in Kamloops. TRU has a regional centre in Barriere but it’s main campus is in Kamloops. TRU also offer Open Learning where students can take courses by correspondence.

Recreation

East Barriere Lake Winter PropertyThere are numerous outdoors activities that can be enjoyed in Barriere. This regions is known as an outdoors paradise year round. Residents and visitors in the winter enjoy world class snowmobiling, cross country skiing, snowshoeing, ice fishing, skating (on frozen lakes) and any other winter activities you can think of. Sun Peaks ski resort, a year round resort is a 45 minute drive from Barriere adding East Barriere Lake view of Shuswap Highlandsmore recreational activities to the already long list.

Other recreational activities in Barriere are curling, golf at Chinook Cove Golf Course, ball parks, horseshoe pits, tennis courts, hiking and riding trails, swimming, fishing, boating, camping and much  more.

The lakes in Barriere are considered some of the best in BC. East and North Barriere Lakes are great for power boating activities as they are not very busy and are known for warmer waters making swimming more enjoyable. Click on the following links to read more about East Barriere Lake or North Barriere Lake.

Click here to view homes for sale in the Barriere area.

The areas Vinsula and McLure are located 25 minutes or approximately 48 kilometers north of the city of Kamloops. Vinsula is located minutes after the Sun Peaks Resort exit in Heffley Creek (33 Kilometers from Kamloops). The area of McLure follows Vinsula and is about 48 kilometers north of Kamloops or 23 kilometers south of Barriere.

These areas mainly consist of small acreages, farms, ranches and some smaller residential parcels. McLure and Vinsula are bordered by the North arm of the Thompson River. McLure is the home of Kamloops’ only river ferry. This small ferry transports vehicles between McLure and the northern area of Westsyde. Access to the ferry is off of McLure Ferry Road that intersects with the Yellowhead Highway #5. The ferry has a load capacity of two vehicles or 12 passengers.

Properties & Real Estate

Properties in the areas of McLure and Vinsula mainly consist of small to large acreages. These areas are split by the Yellowhead Highway #5 and are easily accessible from the Highway. Most properties sit near to the North Thompson River in the valley between the river to the west and hills to the east. There are some properties located along dirt roads in McLure and Vinsula such as Vinsula Knouff Lake Road. There are some smaller properties that are one acre in size or smaller and they are on mainly Pinegrove Road in McLure. Smaller acreages are found on Walterdale Road, Glengrove Road, McLure Ferry Road and Kealty Road to name a few. The remainder of the properties in the area are quarter sections or larger that house livestock or grow hay.

There are not any multi-family properties, mobile home parks or smaller residential lots in these areas.

Click here to view homes for sale in the McLure and Vinsula area.

Shopping

Main shopping is in the city of Kamloops and is within a 25 to 30 minute drive. There is a restaurant in McLure, a small gas station and convenience store in Heffley (5 to 10 minutes from McLure/Vinsula), a small seasonal corner store at the Pinegrove Camp Ground (open Spring/Summer) and a gas station/convenience store in Rayleigh (10 to 15 minutes). There is also a fruit stand that is located on the corner of McLure Ferry Road and the Yellowhead Highway #5.

Schools

Students who live in the McLure and Vinsula area attend the Heffley Creek Elementary school or one of many high schools in Kamloops. There is school bus service from McLure and Vinsula and not all children attend school in Heffley as some parents choose to send them to other schools in the area such as Rayleigh Elementary. To view further information about schools click here.

Recreation

There are many outdoors activities to enjoy in this region. Hiking, cross country skiing, snow shoeing, motor sports such as dirt biking, ATVing or snowmobiling, trail riding, fishing and more. This area is very close to many fishing lakes such as Knouff Lake, Heffley Lake and Sullivan Lake. Big Heffley Lake is also within 20 minutes where watersports are enjoyed in the warmer months and ice fishing, snowmobiling and cross country skiing in the winter months.

McLure and Vinsula are within 30 minutes of Sun Peaks resort which is an all seasons resort with downhill skiing/snowboarding in the winter and mountain biking in the summer. Many lakes are also very close for swimming, fishing and boating.

Click here to view homes for sale in the McLure and Vinsula area.

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