July 2012

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Rayleigh Kamloops Real Estate for SaleGreat Rayleigh home with a 2 car detached shop. Located on a huge 0.46 acre lot and features 3 bedrooms on the main floor, updated kitchen and appliances, updated bathroom, updated flooring on the main, furnace done in 2000, roof 2000, central A/C 2004 and some windows. Single attached carport, room for RV and all your toys with lots of back yard access. Basement needs some updating and is ready for your ideas. there are 2 fire places in the basement, a rec room and 2 bedrooms. There is a separate entry to the basement from the carport. Some notice for showings appreciated.

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Batchelor Heights Real Estate for SaleGreat family home with beautiful river and valley views situated on a nice quiet street. Huge open design kitchen and dining area. Large sunken living room with large window and lots of natural light. Great sized patio off of the dining room, large flat, private yard and RV parking. The main floor features 3 bedrooms with a 4 piece bathroom and 2 piece ensuite. The basement has suite potential and large rec room, games room, den (which could be used as a bedroom), updated bathroom and large laundry room, updated furnace, hot water tank, heat pump (central A/C) external doors and some windows.

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This Saturday, July 28th and Sunday, July 29th, 2012 open houses will be held in North Kamloops, South Kamloops West End and Westsyde.

North Kamloops Property for Sale In Ground PoolSaturday, July 28th, 2012: 11:30-1:00:642 Duncan Avenue, North Kamloops, $339,900

Great family home with 16×32 inground pool in quiet area. Level entry with 5 bedrooms & 2 bathrooms, 2 fireplaces (gas & wood) inground sprinklers, single car carport, separate basement entry with suite potential. more

South Kamloops West End Property for SaleSaturday, July 28th, 2012: 1:30-3:00: 134 Clarke Street, South Kamloops West End, $409,800

Great family home in a quiet west end neighbourhood. Very bright and inviting with 3 bedrooms and 2 bathrooms, huge family room and living room. This home has been kept immaculate and is very well maintained. more

Westsyde Kamloops Home for SaleSunday, July 29th, 2012: 1:00-2:30: 2526 Partridge Drive, Westsyde, $327,400

Updated Westsyde home in a great area. This home sits on large flat, fenced lot with drive thru access and room for a detached shop or pool. Recent updates include hardiboard siding, low-e windows on the main..more

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This article was written by Mike Youds of the Kamloops Daily News on July 24th, 2012.

Sun Rivers Kamloops Real Estate for SaleDid she ever imagine that Sun Rivers would grow to the size that it has?

Why, yes, Leslie Brochu tells people — the resort community’s master plan has pointed the way and ensures a cohesive development.

The vice-president of marketing joined Sun Rivers Development Corporation in 1999, the year the project’s first show home opened, after two decades in the housing industry.

“We didn’t even have a paved road,” she recalled while giving a tour of progress on the multi-faceted resort and residential development.

“It’s been a lot of fun and we’ve had a lot of interesting challenges,” she said.

Sun Rivers has not only grown to be Kamloops largest real estate development, it’s in a league all its own as build-out continues at an impressive pace. There are now 1,200 residents living on the slopes of Mount Paul where California bighorn sheep once grazed in isolation amid the sagebrush, and the resort community is only 40 per cent finished.

“We’ll see build-out over the next eight years, providing we see an uptick in the economy.” By then, the population is expected to reach 4,000 residents.

What’s new on the hill? There is construction activity all over.

The third phase of Talasa, a condominium complex, has just been completed. Ultimately, there will be six residential apartment-style buildings with 450 residences in total.

“We’re selling out very quickly. With all three buildings, we’re about 83 per cent sold out.”

Purchasers have ranged from students to young professionals and young retirees. Some are snowbirds who like the convenience of a lock-and-leave home. They still fit the Sun Rivers demographic — an average age of 48-50.

“These people are making pretty significant lifestyle changes when they decide to buy. It’s not downsizing, necessarily, it’s simple-sizing. On estate lots (for example), they’re building these dream homes.”

The centre of the complex will become the hub of Sun Rivers, the village centre, which will incorporate retail and office space, a café, grocery store, wine and beer store, and pub, as well as an outdoor swimming pool and fitness centre.

New single-family-residence neighbourhoods offer a range of options for prospective buyers.

The Pointe, one- and two-level homes (1,650 square feet) that share some of Talasa’s post-modern/contemporary design, offer a step up in scale with distinctive touches, such as private courtyards, that bring the indoors out and the outdoors. These units start from $491,500. There are about 20 lots left.

Golf Ridge is an executive townhouse development with a West Coast craftsman design. The units are 2,100 square feet, offering a private residence club with a dipping pool and close proximity to the greens. There’s even golf-cart storage. Units start at $442,500.

Then there’s Ironwood, an adult-oriented neighbourhood of homes in the 3,000-square-foot range with base prices of $432,000 (two levels) and $412,000 (one level) on larger lots. These homes, currently selling, bear an Old World or English country design theme.

Visao, another new neighbourhood, lies between the 11th and 12th greens at the eastern end of Sun Rivers. Homes, including this year’s popular Y Dream Home, feature a Tuscan/Mediterranean design motif. Of the 23 lots in the first phase, 10 remain.

“I think people are delighted to have a different architectural style to work with.”

Just west of Visao Court lies the future Belmonte above the 10th green. Construction is getting under way with the first units to hit the market early next year. These will be attached homes, again with private courtyards. Six phases are planned over a six-year period.

Show homes within each neighbourhood are fully decorated and furnished, and there’s a construction showcase in the Irongate show home. Opened in June, the construction showcase goes beneath the finished surfaces to explain construction practices and the advantages of various energy-efficient and water-efficient features.

“This has been a real benefit for us, because the new-construction market has been so tough,” Brochu said, alluding to the impact of the HST. The market was hurt more by perception than reality. They dropped prices two per cent to fight the perception.

“The new-construction industry really stalled because people were afraid. They didn’t understand.”

The PST is an embedded tax in the industry, paid during construction. When it’s re-introduced, prices will go up as a result, taxes will go down, but the overall cost will remain the same.

At the top of the development, construction is underway on a new irrigation reservoir and waterworks, in itself a $2-million construction project. Down slope from the reservoir lies the site of a future resort hotel/clubhouse, immediately above the first green.

Local interest continues to be the prime driver at Sun Rivers. About 70 per cent of buyers are local, with buyers from elsewhere in B.C. and Alberta making up most of the other 30 per cent.

The primary challenge of such a large and protracted development has been the market. Through the peaks and valleys, the partnership — headed by principal investor Martin Zumtobel of Austria — had to pace themselves to ensure they can meet demand without over-extending the inventory and capital costs.

“This is the third economic cycle or softening of the market, since we started,” she noted. In 1999, the year they broke ground, there were only 99 housing starts in all of Kamloops, which was indicative of a lull. “Twenty years was our original build-out goal, so we’ll be off by four years.”

Knutsford Kamloops Real Estate PropertyThis Knutsford home has great potential. 4 bedrooms total with 2 bathrooms. There is a 2 bedroom inlaw suite with separate entrance. Home sits on a 0.87 acre flat lot with lots of potential for a detached shop, fence for livestock/ horses and room for outbuildings. Only a 5 minute drive to Aberdeen, on city water and septic. Updated main floor kitchen, furnace, hot water tank and roof. Vaulted ceilings on main floor and shared laundry. Please give 24 hours notice for showings.

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This article appeared in the Kamloops This Week on July 18th, 2012 and was written by Andrea Klassen.

A re-design of a controversial proposed strata slated for land next to Aberdeen elementary school is getting solid reviews from city staff.

Though council already agreed to give Craftsman Ventures another public hearing to try to rezone 2171 Van Horne Dr., the development was back at council on Tuesday, July 17, for a few housekeeping measures that weren’t passed during the original reconsideration vote.

The developer is asking to have the 2.2-hectare parcel rezoned from church to medium-density multi-family.

Under the new design, the strata would have 58 units of duplex, triplex and apartment-style housing.

The original 64-unit plan was shot down by council in May due to concerns about how the development managed ground and storm water in an area with a history of water and slope-stability issues.

But city planning and development manager Randy Lambright said the new design, which directs storm water into a city gully east of the property, is a good solution to the problem.

“We are very comfortable with what they’re proposing,” he told council.

“It’s likely better than what they were proposing initially.”

The strata plan hasn’t been popular in the Aberdeen neighbourhood, however.

At the last public hearing more than 100 people showed up to raise issues with the plan. In addition to water issues, residents raised concerns about privacy, traffic and a loss of views.

Residents were also unhappy the property they had expected to some day house a church might instead hold rental housing.

Most dwellings in the area are single-family homes, and several residents argued the strata would change the character of the neighbourhood.

During an appeal to council in June, Rob Gobelle of TRUE Consulting — who spoke on behalf of developer — said the new design was meant to deal with some of those neighbourhood issues.

The nearest buildings are now 29 metres from nearby homes, instead of eight, and the number of visitor parking stalls on site was upped to keep traffic from spilling onto other streets.

Craftsman Ventures will pitch the updated site plan to Aberdeen residents at an open house at Aberdeen elementary on Monday, July 23, at 7 p.m.

Aberdeen Real Estate MLS Listing PropertyFabulous Aberdeen home in a quiet cul-de-sac with expansive valley and river views. There is a large updated teak kitchen, roof ’06, double car garage, central a/c, central vac, new duradeck, newer furnace and hot water tank. The main floor features 2 large bedrooms, kitchen, large pantry, dining room, living room with a vaulted ceiling, access off of the dining room to the huge deck and 4 piece bathroom. Upstairs on the second level there is a large master suite with 3 piece bathroom and office (which could be converted to a huge walk in closet). The basement features a 3 bedroom inlaw suite with a nicely updated kitchen and separate entrance. There are 2 fireplaces that are both in great condition. RV parking, private 2 tier yard, hot tub and daylight basement. Really unique home with over 4,000 square feet of useable space.

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Dufferin Bare Land Strata for SaleNearly new home in a great bare land strata in Dufferin. Basement entry style home with open great room floor plan on the main floor, 2 bedrooms and a full 4 piece bathroom. Patio off of the dining room and basement rec room. Lots of extras put into this home such as insulation between the floors. Situated at the end of the complex with tons of parking, more privacy and nice views over the green belt to the west. Fully finished basement with one bedroom, rec room, 4 piece bathroom, wet bar and lots of storage.Low bare land strata fee of $100 per month. Home includes central a/c and all appliances. Centrally located, only steps to elementary school, bus, shopping, hiking trails and parks. Pets allowed with restrictions and rental restrictions in effect.

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Rayleigh Home for Sale PropertyWatch sunsets over the North Thompson from the covered deck! A deceiving home from outside, it offers over 3600 sq ft of family living space! 5 bedrooms including large master w/walk in closet and ensuite, 2 more full baths, spacious kitchen w/breakfast bar, open plan living and dining room with rich hw floors, lots of windows and f/p. The fully finished basement has a large family room w/bar and a theatre room under the oversized 2 car garage. Enjoy complete privacy on the back patio. Other features incl main floor laundry, central a/c w/heat pump, u/g sprinklers, RV and extra parking. So nice to show!

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The Kamloops and District Real Estate Association has released it’s latest statistics for June 2012 and the second quarter of 2012. Click on the image to enlarge.

Kamloops Real Estate Statistics

Kamloops Real Estate Comparative analysis by property type June 2012

Kamloops Real Estate Statistics Information

Kamloops Real Estate MLS Activity June 2012

Kamloops Real Estate statistics residential sales

Kamloops Real Estate Sales by subarea June 2012

Kamloops Residential Sales Statistics

Kamloops Real Estate Sales by subarea 2nd Quarter 2012

Kamloops Savona Property for SaleGreat building lot just under 1 acre. Tons of possibilities for this property as zoning allows for an RV, mobile home or house. Community water and hydro available to this property. Located on a quiet area with mature properties nearby. Perfect building lot for a rancher or 2 storey home with a daylight, walk out basement. Call for more information.

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MLS Residential Sales BC June 2012

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Vancouver, BC – July 12, 2012. The British Columbia Real Estate Association (BCREA) reports that during the first half of 2012, BC residential sales dollar volume declined 17.1 per cent to $20.4 billion, compared to the same period last year. Residential unit sales dipped 9 per cent to 38,312 units, while the average Multiple Listing Service® (MLS®) residential price was 8.9 per cent lower at $533,681.

“The pace of home sales slowed during the first half of the year,” said Cameron Muir, BCREA Chief Economist. “However, the downturn is likely to be temporary as population growth, persistently low mortgage rates and encouraging employment figures suggest a stronger second half of 2012.”

“The 5-year conventional mortgage rate remains within 5 basis points of its 20 year monthly low. BC’s population is growing by approximately 45,000 individuals a year. Full-time employment climbed 3 per cent during the first half of 2012 at the expense of part-time employment, which declined 1.9 percent.”

The dollar volume of homes sold through the MLS® in BC declined 24.1 per cent to $3.4 billion in June compared to the same month last year. A total of 6,815 MLS® residential unit sales were recorded over the same period, down 13.8 per cent from June 2011. The average MLS® residential price was $503,232, 12.0 per cent lower than a year ago.

This Saturday, July 14th and Sunday, July 15th, 2012 open houses will be held in Aberdeen, Barnhartvale, Batchelor Heights, and South Kamloops.

Aberdeen Property for Sale Kamloops

Saturday, July 14th, 2012: 1:00-2:30 and Sunday, July 15th, 2012: 11:30-1:00: 2142 Van Horne Drive, Aberdeen

This attractive Aberdeen home is close to all amenities. You’ll appreciate the view from the bright open dining/living room. The spacious master has 3 piece ensuite & w-i closet. more

Batchelor Heights Property Home for SaleSunday, July 15th, 2012: 1:00-3:00: 32-1104 Quail Drive, Batchelor Heights, $297,400

Immaculate 3 bedroom, 2.5 bathroom two storey original owner townhome in Batchelor Heights. The main floor features a spacious great room featuring a large kitchen with lots of cupboard space & a gas fireplace. more

South Kamloops West End Property for SaleSunday, July 15th, 2012: 1:30-3:00: 134 Clarke Street, South Kamloops West End, $409,800

Great family home in a quiet west end neighbourhood. Very bright and inviting with 3 bedrooms and 2 bathrooms, huge family room and living room. This home has been kept immaculate and is very well maintained. more

Barnhartvale Property for SaleSunday, July 15th, 2012: 1:30-3:00: 1247 Highridge Drive, Barnhartvale, $397,400

No HST on this spacious rancher with full walk out daylight basement. This home has a full basement that just needs paint, trim & flooring to finish. Easy inlaw suite potential. more

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North Kamloops Real Estate Property for saleSpacious & bright family home in great area. 3 bedrooms up, 1 down & 2 full bathrooms. the fully finished basement has a hobby room, rec room & lots of storage. Beautiful yard with U/G sprinklers & new covered deck. Many updates include: new flooring, roof, kitchen counters, H/W tank (2 months), furnace (6 months), storage shed, windows, insulation in ceiling, gas fireplace insert & more.

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Juniper Heights Kamloops Executive Home

Magnificent 6800 sq ft executive home with high vaulted ceilings and 180 degree views of the river and valley. Located on a large executive 0.61 acre lot, there is 3400 sq ft on each floor, large 3 car garage and huge workshop with vehicle access that can accommodate 4 additional vehicles. The main floor feat. a huge master bedroom suite w/ oversized W/I closet and 5 pc. ensuite. w/ steam shower. There is a formal dining room, den/office, living room w/ a double sided stone fire place, family room off of the large chef’s kitchen and laundry room. The dining room and den can both be converted to bedrooms which would make this hm a 3 bedroom main floor. Kit feat. walnut cabs and granite countertops, Thermedore appliances & large W/I pantry. Basement feat. a theatre room, rec room, exercise room/gym, 3 bedrooms & a cold room/ storage. Main access to the shop is through the basement where there is a dedicated 2 pc bathroom for the shop area. The basement has an additional 3 and 4 pc. bath. Basement could easily be suited. There is a r/i wet bar.The entire home is wired for sound with separate zones/ipod plugs, radiant heating throughout incl. the 3 car garage, hot water on demand and r/i for a dual heat pump system. The yard has potential for a pool with easy backyard access. Beautiful quality built home with so many extras.

Juniper Benchlands Executive Home for Sale

Kamloops Executive Home Rancher for saleClick here to view more pictures of this home.

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Westmount Kamloops Home for SaleSpacious Westmount home with tons of updates. This home features hardwood and tile floors, large family room off of the kitchen area (could be converted to a master suite), updated HW tank (2012), mid-efficient furnace, windows (2002), roof (8 years old), updated vinyl siding and external doors. Open floor plan in the kitchen area that overlooks the large back patio and yard. There is central vac and central a/c. This home has been very well maintained and cared for. The basement features 1 full bedroom and a second bedroom that doesn’t have a closet but could. There is a 4 piece bathroom, large rec room and laundry. There is also suite potential. Large storage area in the carport that is wired and insulated. Fully fenced yard, close to the River’s Trail, park, transportation and elementary school.

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This article appeared in the Kamloops Daily News on July 6th, 2012.

New Construction Kamloops BC Real EstateCommercial and institutional construction is keeping builders in Kamloops busy while residential work is lagging slightly from last year.

City acting chief building inspector Bruce Barclay said Friday the first half of this year has seen construction values surpass $100 million. Last year at this time, those values were at $84 million.

The main driver behind that is business and institutional projects, he said.

For example, there’s a new $12.2-million seniors’ residence going up on Tranquille Road in Brocklehurst.

Single family construction is at $20 milion halfway through the year, while it was at $21.3 million at this point in 2011. Multi-family is down a bit, too, but expected to move upward as demand in that market rises.

Barclay said by the end of the year, he expects the construction-value total to be around $175 million. Pretty good, given an average year in Kamloops is between $120 and $140 million, and that the economy is still considered to be relatively flat.

“We’re on for a very strong year,” he said.

There are still some big-number projects expected to come through City Hall for permits this year, including Telus’s $30-million data centre, $6 million for Walmart’s expansion and $6.5 million for Target’s renovations to its Zellers location.

Kamloops has always paced itself well where commercial and residential construction is concerned, Barclay said.

“We’ve never done a Kelowna or a Vancouver to build it and they will come,” he said.

Instead, the buildings have been constructed as they’ve been needed.

“That’s the way most of our builders work. They’re not going to build without there being something there.”

City community development manager Randy Lambright said the numbers are encouraging, especially given the economy is being described as sluggish to recover from the 2008 recession.

“It’s all good and it can only get better, depending what happens with new industry coming into town with or without Ajax mine,” he said, adding there’s interest from other businesses in coming to town.

“It’s a manageable rate of growth.”

Housing prices are driving a growing interest in multi-family housing, which is raising more questions at City Hall about density and what should be encouraged for infill.

But, overall, all the construction figures for this year are positive, even on the housing side, he said.

This article appeared on CBC.ca on July 7th, 2012.

The clock is ticking on Canada’s mortgage rules.

Come Monday, insured 30-year amortizations will be a thing of the past, and the shift means many buyers are scrambling to find a home and seal a deal this weekend, before time runs out.

As part of an attempt to cool the housing market and reduce household debt, the maximum amortization on government-backed mortgages will be 25 years.

“It will mean some people will not be able to buy into the market, some people will buy less into the market,” Finance Minister Jim Flaherty said in announcing the new rules last month.

Bruce and Denise Perrett, of Port Coquitlam, B.C., got married last year and wanted to buy a house, but they weren’t in a rush.

That all changed when the couple heard Ottawa was tightening mortgage rules.

For the Perretts, locking into a 30-year term as opposed to 25 years meant an extra $300 a month that could go to strata fees or property taxes.

They sprang into action and called their mortgage broker.

“She was right on it, she got us the approval and the next day we were rolling,” said Denise Perrett. “Then we found out we had to have an accepted offer by [July 9] and then we panicked and called our realtor.”

The new rules limit buyers’ purchasing power, said mortgage advisor Milka Lukacevic.
Deadline stress

For every $100,000 it’s about a $60 difference, and in an expensive market like the Lower Mainland, every penny counts.

But Lukacevic says the rush to take advantage before the rules change can carry a lot of stress.

“You can’t necessarily — because the rules changed in a matter of weeks — go out and find something just to try and get it on a 30- year.”

The Perretts spent 48 hours looking at homes and put an offer that was accepted last week on a property in Maple Ridge that has everything they want.

The best part is that they qualify for a 30-year mortgage.

“We probably wouldn’t have been able to afford to mortgage a house, or at least not the house we wanted, if we hadn’t jumped on it,” Bruce Perrett said.

On Saturday, July 7th and Sunday, July 8th, 2012 open houses will be held in Aberdeen and Westsyde, Kamloops.

Aberdeen Kamloops Home For SaleSaturday, July 7th, 2012: 1:00-2:30: 33-2030 Van Horne Drive, Aberdeen, $359,900

Very well kept Aberdeen home in popular gated bareland strata. This home features 2+1 bedrooms and 3 full bathrooms, a large kitchen with centre island and lots of counter space, huge living and dining room area with nice gas fireplace and mantle. more

Westsyde New Construction DevelopmentSunday, July 8th, 2012: 1:00-3:00:2240 Grasslands Boulevard, Westsyde, $458,000

Brand new rancher with a superb river and mountain view! The perfect family home featuring maple kitchen with island, tiled backsplash and Samsung appliances, 5 bedrooms, 3 full baths, family room and rec room. more

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Riverstone Bare Land Strata Brocklehurst KamloopsFully finished rancher style home in desirable RiverStone bare land strata. Finished to the highest standard, nice open great room floor plan with maple kitchen, stainless steel appliances and custom raised eating bar. There are 2 bedrooms on the main floor with the option to have laundry on the main (hook ups in the closet near the bathroom).The basement features a spacious recroom with custom wet bar, a full 4 piece bathroom with soaker tub, large bedroom, den and laundry room. There is also a lot of storage. Other features of this home are a large private deck in the back great for entertaining and low maintanence, a heat pump (central a/c), central vac, u/g sprinklers, Drycore subfloor and engineered hardwood in basement, sub panel in basement, single car garage and one spot in the driveway. Bare land strata is $75 and one small pet permitted, no rentals. Steps to bus and schools, minutes from shopping, recreation and more. New home warranty remaining. Great home in a quiet area, this one won’t last.

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