New Listing: Lot A Glenacres Road, McLure, Kamloops, BC $194,500

Lot A Glenacres Road, McLure, Kamloops Land for Sale

New Listing: Lot A Glenacres Road, McLure, Kamloops, BC $194,500. Beautiful, flat acreage in the heart of McLure.

This property is one of the last buildable flat acreages in McLure located 40 minutes from Kamloops and Sun Peaks ski resort. This 2.1 acre parcel has a well on site that has been tested and produces 20 gallons per minute. Hydro is at the property line and the property is fully fenced.

There are two potential sites for a septic system on the property as well, making this site very desirable. Come build your dream home and have room for horses or other animals! Located close to the riverfront, McLure ferry a short drive away for access to Westsyde. Beautiful area to call home.

Click here to view more pictures of this home.

To view all homes for sale in Kamloops click here.

New Listing: 304-875 Sahali Terrace, Sahali, Kamloops, BC $239,900

304-875 Sahali Terrace, Sahali, Kamloops Home For Sale

New Listing: 304-875 Sahali Terrace, Sahali, Kamloops, BC $239,900. Centrally located condo like townhome with two patio spaces, two underground parking spaces and quick possession possible!

This home features an open great room floor plan with a gas fireplace in the living room and views of the hillside. There is one large bedroom with walk through closet and access to the 4 piece bathroom. There is a large patio off of the master bedroom.

The unit also has a private entry from the parking garage directly to the unit. There is a large laundry room separate from the living space as well. This home would be perfect for a first time home buyer, student or downsize. Minutes to transportation, TRU, hospital and downtown amenities.

Click Here to view more photos of this home.

To view all homes for sale in Kamloops click here.

New Listing: 3244 Holbrook Road, Pinantan, Kamloops, BC $599,500

3244 Holbrook Road, Pinantan, Kamloops Homes For Sale

New Listing: 3244 Holbrook Road, Pinantan, Kamloops, BC $599,500. Gorgeous waterfront property on Pinantan Lake with a 2,876 square foot log home.

This home is located on a 0.43 acre lot with southern exposure and views of the mountains and lake. The main living space has high vaulted ceilings, a large kitchen with centre island, lots of windows throughout the main floor. There are 2 bedrooms on the main floor with a 4 piece bathroom featuring a claw foot tub and separate shower.

The second level has a large bedroom with walk in closet. The basement level features a large rec room, additional family room, lots of storage, a bedroom or craft room and walk out to the hot tub with lovely views. Many updates done to this home including all the logs have been re-chinked/re-finished, furnace, roof, workshop in back is new and more!

Including your own private dock, garden beds, storage sheds, fire pit area and great sized yard. Attached single car garage and covered car port. Such a great home to live year round or as a secondary recreational property.

Click Here to view more photos of this home.

To view all homes for sale in Kamloops click here.

New Development Sienna Ridge: Minutes From Downtown Kamloops at the Foot of Sun Rivers!

Sienna Ridge Kamloops Real Estate Sun Rivers Adult Oriented Community GatedWe are proud and excited to be a part of this new development in Kamloops, Sienna Ridge. This new adult oriented (ages 45+) gated community is located on the South Thompson River at the foot of Sun Rivers and minutes from Downtown Kamloops.

Contact us for more information or to set up a private viewing. 

This community features rancher style homes with two bedrooms on the main level including the master bedroom with full ensuite and walk in closet. There is an open great room floor plan with high ceilings and lots of windows for natural light. The view from many of the units is breathtaking! There are many gorgeous upgrades in each home with quartz counter tops throughout the main floor not only in the kitchen but also the bathrooms. The developers are including all 6 appliances with each property.  Each home features main floor laundry with a dedicated laundry room, not a laundry closet! Two car garage and a full sized driveway to park those oversized pick up trucks. Click here to view the feature sheet.

Once complete this development will house 109 units. There will be beautiful landscaping throughout Sienna Ridge with walkways that reach the rivers edge. There will also be RV storage for those buyers who need a place to park their boat or RV.

Other great features of this outstanding development include: fully gated, pet friendly with no pet restrictions (city rules apply), yard space that can be fenced, development (strata) fee of $135 per month which includes water, sewer, garbage/recycling pick up, snow clearing and all lawn and garden maintenance.

These homes are affordably priced starting at $409,900. Save the taxes! There is not any GST or Property Transfer Tax presently charged on these homes.

Contact us for unit pricing and to set up a private viewing. Visit us at the Sales Centre Thursday to Sunday from 1pm to 4pm at 635 Shuswap Road. 

There are 3 floor plans to choose from ranging in size from 1,460 to 1,550 on the main level with similar unfinished basement square footage.

FLOOR PLAN A PDF                      FLOOR PLAN B PDF                         FLOOR PLAN C PDF

Sienna Ridge Unit A Kamloops Sun Rivers Real EstateSienna Ridge Unit B Kamloops Sun Rivers Real Estate 45+ adult oriented development gated community Sienna Ridge Unit A Kamloops Sun Rivers Real Estate

 

 

 

 

 

Site Plan with Sold & Pending sienna ridge kamloops gated community

There are a lot of upgrade options available for each home. The upgrades include:

FINISHING & FLOORING

  • Linear fireplace with floor to ceiling tile surround
  • Stained 4 beam ceiling feature in great room
  • Built-in blinds for back patio doors
  • Custom wall color paint change
  • Painted ceilings
  • Basement level finishing to include one full 4 piece bathroom, bedroom, family room and utility room/storage space
  • Heated floor in ensuite with thermostat control
  • Laminate flooring throughout main floor

UPGRADED CABINET PACKAGE

  • Change all bottom cupboards to drawers
  • Add silent close on all doors and drawers

MECHANICAL

  • Central a/c unit
  • Alarm System

LANDSCAPE & FENCING

  • Add privacy panels to rear yard
  • Automatic Irrigation

Contact us for upgrade pricing and to arrange for a private viewing.

Come visit us at the on site sales office Thursday to Sunday from 1pm to 4pm at 641 Shuswap Road. We have all the finishing and colour samples at our sales office to choose from. Come secure a home soon as prices will be increasing in October 2017 from the present pricing scheme. We look forward to helping you pick out that perfect home!

For more information about the developer Click Here.

New Listing: 28-240 G&M Road, South Kamloops, BC $147,000

28-240 G&M Road, South Kamloops Home for Sale

New Listing: 28-240 G&M Road, South Kamloops, BC $147,000. This two bedroom home in Leonard Estates has a great sized yard, plenty of parking and is centrally located just a few minutes from all downtown amenities!

Bright open concept layout with laundry off the kitchen. The addition offers a great bonus space for craft room, home office or extra living space if needed. Enjoy gorgeous mountain views from the deck. Propane tank included. Low pad rent of $300 per month with pets and rentals allowed. 24 hours notice required for showings.

Click Here to view more photos of this home.

To view all homes for sale in Kamloops click here.

Mortgage Rate Forecast, BCREA

The BC Real Estate Association recently released their mortgage rate forecast. Click here to access the full PDF with graphics.

INTEREST RATE LIFT-OFF
• 5-year fixed mortgage rates hit three-year high
• Rapid economic growth, but still no sign of inflation
• Bank of Canada tightening, but how quickly?

Mortgage Rate Outlook

Since our second quarter forecast, our projected rise in mortgage rates has occurred and accelerated, as the Bank of Canada—spurred by economic growth that far exceeded its outlook—turned suddenly hawkish. The Bank surprised with a 25-basis point increase in July and then again in September, taking its overnight rate back to 1 per cent, where it was before the precipitous drop in oil prices that shocked the Canadian economy in 2014. After the July interest rate hike, markets widely expected at least one additional rate increase in the fall, and so bond markets and lenders had already priced in the September increase by the time it occurred.

Over the past 12 months, the 5-year bond yield has risen 110 basis points to a three-year high of close to 1.8 per cent, prompting a 60-basis point increase in 5-year discounted mortgage rates to above 3 per cent for the first time since 2014. The 5-year qualifying rate has risen just 20 basis points to 4.84 per cent. The latter is an interesting development, because it is the first increase in the posted rate since stricter qualifying rules for insured mortgages were imposed last fall. Rising mortgage rates may complicate the introduction of further mortgage qualifying restrictions slated for October, this time tightening lending for uninsured mortgages.

We anticipate that the Bank of Canada will hold off on further rate increases this year and assess how higher rates are impacting the economic and inflation outlook. However, in the Bank’s recent communications, it has very clearly left the door open for more aggressive tightening should the current torrid pace of economic growth continue. Our baseline forecast is for the 5-year fixed mortgage rate offered by lenders to average 3.15 over the fourth quarter, eventually rising to 3.44 by the end of 2018. The posted 5-year qualifying rate is forecast to reach 5.14 per cent by the end of next year.

 

Economic Outlook

The Canadian economy is forecast to post its best year of growth since 2013, propelled by 4 per cent average quarterly growth in the first half of 2017. That accelerated pace of growth has meant that excess capacity in the economy, referred to by economists and central banks as the “output gap,” is rapidly being eliminated. The output gap is important because it is used by the Bank of Canada as a guide to future inflation. An economy operating above its potential, as the Canadian economy is on track to do, should be inflationary. Since monetary policy acts with long and variable lags, quelling expected future inflation would necessitate higher interest rates today. Significantly, all measures of inflation monitored by the Bank of Canada currently sit well below the Bank’s official 2 per cent target and, to date, show very little sign of accelerating. Changes to inflation will be key to future movements in interest rates.

We expect the economy will continue to grow above trend in the third and fourth quarters, and will ultimately expand by 3.3 per cent for all of 2017 before slowing in 2018 to 2.3 per cent, as higher interest rates and a soaring loonie start to drag on the economy.

 

Interest Rate Outlook

Given the rapid expansion in the Canadian economy, it is clear the stimulus introduced to offset falling oil prices is no longer required. However, the policy direction going forward is less clear, given the chronic undershooting of the Bank’s inflation target over the past year.

If sustained economic growth and a closing of the current output gap bring higher inflation, the Bank will likely embark on a more sustained cycle of rate increases to close the wide gap between its current target rate and its estimate of the “neutral” rate at which the economy runs neither too hot nor too cold. The Bank itself estimates that neutral rate in a range of 3 per cent to 3.5 per cent, which means a further 200 to 250 basis points of tightening in the future. However, should inflation remain stubbornly low, the case for rate hikes loses some urgency. Our baseline forecast is for gradual rate increases over the next two years, with the Bank of Canada’s overnight rate ending 2018 at 1.5 per cent.

Send questions and comments about Mortgage Rate Forecast to: Cameron Muir, Chief Economist,ac.cb.aercbnull@riumc; Brendon Ogmundson, Economist, ac.cb.aercbnull@nosdnumgob.

Additional economics information is available on BCREA’s website at: www.bcrea.bc.ca. To sign up for BCREA news releases by email visit click here.

Mortgage Rate Forecast is published quarterly by the British Columbia Real Estate Association. Real estate boards, real estate associations and REALTORS® may reprint this content, provided that credit is given to BCREA by including the following statement: “Copyright British Columbia Real Estate Association. Reprinted with permission.” BCREA makes no guarantees as to the accuracy or completeness of this information.

Copyright© British Columbia Real Estate Association

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