Featured Property: 2211 Greenfield Avenue, Brocklehurst, Kamloops, B.C. $347,900

Kamloops Real Estate 2211 Greenfield Ave Brock Spacious, updated Brock home close to Elementary &  Middle Schools, transportation and shopping. This home features a vaulted living room and dining room ceiling, updated kitchen, recently painted inside and out, new flooring, updated bathroom, 2 fireplaces, central air, lazy L in-ground pool, RV parking, drive thru access to the large flat back yard and large patio in the back yard overlooking the pool area. The basement is fully finished and has a separate entrance with suite potential. Some new windows in the basement. This home has been very well maintained and shows beautifully.

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Canadian Banks Raise Mortgage Interest Rates in April 2011

This article appeared on the Globe and Mail on April 4th, 2011.

Several of Canada’s big banks are raising most of their fixed-term mortgage rates ahead of the busy spring real estate market.

Toronto-Dominion Bank said the biggest increases will be for mortgages with terms of five to 10 years, which will all go up by 0.35 of a percentage point starting Tuesday.

The move was matched by Canadian Imperial Bank of Commerce.

Royal Bank of Canada raised its rates on mortgages for five and 10-year terms by 0.35 or a percentage point, and its seven-year rate by 0.15 of a percentage point.

The posted rate for five-year closed mortgages — one of the most popular types of loans for Canadian home owners — will rise to 5.69 per cent.

The three banks will also raise their rates on one-year, three-year and four-year terms by 0.2 of a percentage point while two-year terms go up 0.3 of a percentage point.

Fixed mortgage rates, which are closely tied to the bond market, tend to climb when traders shift investment activity to riskier equity assets from bonds, which are considered safer.

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Open House Weekend: Sunday, April 3, 2011: Batchelor Heights, Brocklehurst and Juniper Ridge

This Sunday, April 3rd, 2011 open houses will be held in Batchelor Heights, Brocklehurst and Juniper Ridge.

867 Lolo Street Brocklehurst Kamloops BC Real EstateSunday, April 3rd, 2011: 11:30-1:00: 867 Lolo Street, Brocklehurst, $359,900

Beautifully updated modern Santa Fe style Brock home in a cul-de-sac. 1 bedroom inlaw suite, basement could be a 2 bedroom. Recent updates include kitchen, all appliances, bathrooms, flooring, all windows, roof 5 years old. more

Kamloops House For Sale 7-1655 Ord Road Brocklehurst

Sunday, April 3rd, 2011: 11:30-12:30: 7-1655 Ord Road, Brocklehurst $114,900

Completely renovated inside and out. There isn’t a single thing left to update in this spacious 1,100 sq foot home. There are 2 bedrooms and a den and 2 full four piece bathrooms. more

Kamloops Batchelor Heights House 5-930 Stagecoach Drive Sunday, April 3rd, 2011: 1:00-3:00: 5-930 Stagecoach Drive, Batchelor Heights $334,900

Stunning three bedroom and den townhome with TONS of custom upgrades. Located in the desirable Ridge at Saddleback development and perfect for first time home buyer or retiree. Many of the upgrades include.. more

Juniper Heights Ridge Kamloops BC 2247 Omineca Dr Sunday, April 3rd, 2011: 1:30-3:00: 2247 Omineca Drive, Juniper Heights $378,900

Immaculate doesn’t even describe this Juniper Heights home. Beautiful hardwood flooring throughout the main floor that has 3 spacious bedrooms, 1 full bath and a 2 piece master Ensuite. Many recent updates in this home. more

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Featured Property: 1198 Clearview Drive, Barnhartvale, Kamloops, B.C. $324,900

Barnhartvale Kamloops Real Estate 1198 Clearview Dr Large Barnhartvale home with over 2,600 square feet of living space and has 5 bedrooms and 3 bathrooms. There is an kidney shape in-ground pool, hot tub, in-ground sprinklers and large, private yard. Recent updates include: roof, furnace, heat pump, hot water tank, flooring and more. There is a small workshop in the carport. Daylight walk out basement, bright sunroom off of the livingroom/diningroom area and two fireplaces. One fireplace has a new high efficient wood burning stove. The master bedroom is spacious and has a 2 piece ensuite which could be converted into a 3 piece. Tons of potential in this home. Some notice for showings appreciated.

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Canadian Housing Market Is Okay According to Economist

This article appeared on the Globe and Mail on Tuesday, March 29th, 2011 and was written by David Berman.

David Rosenberg, chief economist and strategist at Gluskin Sheff, remains a contrarian voice on the U.S. economic recovery, and he is also sticking to his argument that Canada is in pretty good shape – and that includes the country’s housing market.

That market has taken a few knocks recently, even attracting derision from the foreign press. The Wall Street Journal ran an article on Tuesday arguing that Canadian home prices are on a fresh tear, even as income growth lags record-high debt levels.

“All that has raised worry at the country’s central bank, which repeatedly has warned about rising debt levels, and among some economists, who say the market is ripe for a correction – maybe a steep one,” the Wall Street Journal noted.

However, Mr. Rosenberg counters these observations. Yes, debt levels are a concern but he notes that homebuilders have shown some discipline in cutting back production, to an extent that didn’t exist in the United States at the peak of its housing market. In Canada, single-family housing starts have fallen 20 per cent from year-ago levels.

“As such there is no evidence of any meaningful supply-demand imbalance that should undercut real estate valuation,” Mr. Rosenberg said in a note to clients.

“We see no reason why the Bank of Canada should be aggressive in raising rates, and at the same time, the demographics in favour of real estate are actually quite constructive, notably the influence from Canada’s business immigration platform. Note that in 2009, net international immigration to Canada surged 13 per cent. So not only is the country acting as a magnet for international capital inflow, but Canada is also being increasingly viewed as a stable place to do business and a desirable area to live.”

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Featured Property: 7071 Watson Road East, Savona, Kamloops, B.C. $239,900

Savona House For Sale 7071 Watson Rd. E Bright and spacious 3 bedroom home on 10,000 sq foot lot with lake views. Over 1,500 square feet of living space, 1 wired workshop, 2 storage sheds and fully fenced yard. Many recent updates include hot water tank, flooring, bathroom, paint, baseboards and more. Lots of parking for your vehicles, RV and toys. Fruit trees in the back yard and covered patio. Nice clean Savona home close to recreation.

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Open House Weekend: Saturday, March 26 and Sunday, March 27, 2011: Aberdeen, Barnhartvale, Batchelor Heights and North Kamloops

On Saturday, March 26th and Sunday, March 27th, 2011 the open houses will be held in Aberdeen, Barnhartvale, Batchelor Heights and North Kamloops.

5-930 Stagecoach Drive Batchelor Heights For Sale

Saturday, March 26th, 2011: 1:00-3:00: 5-930 Stagecoach Drive, Batchelor Heights $334,900

Stunning three bedroom and den townhome with TONS of custom upgrades. Located in the desirable Ridge at Saddleback development and perfect for first time home buyer or retiree. Many of the upgrades include.. more

451 Alexander Ave North Kamloops Open House

Sunday, March 27th, 2011: 11:30-12:30: 451 Alexander Avenue, North Kamloops, $239,900

Cute North Kamloops home close to shopping, park & transportation. Some updates done such as flooring & bathroom sink. Pool has new liner & pump in 2010. 70 amp service. Room for a detached workshop. more

2249 Linfield west highlands aberdeen real estate new development home

Sunday, March 27th, 2011: 11:30-1:00: 2249 Linfield Drive, Aberdeen, $429,900

This brand new view home is located in Aberdeen’s newest subdivision Aberdeen Highlands. It is located right beside a golf course and elementary school. more

 

Kamloops home for sale 26-1555 Howe Road

Sunday, March 27th, 2011: 1:30-3:00: 26-1555 Howe Road, Aberdeen Glen Village, $189,900

Spacious three bedroom home in Aberdeen with one full bathroom. Recent updates include roof, all windows, hot water tank, paint, kitchen appliances and more. The rec room could easily be converted to a fourth bedroom or office. more

Barnhartvale Kamloops Real Estate 4744 Uplands Drive

Sunday, March 27th, 2011: 1:00-3:00: 4744 Uplands Drive, Barnhartvale $399,900

Beautiful 180 degree views from many of the rooms of this 4 year old home. Spacious floor plan with 4 bedroom plus a den with 3 full 4 piece bathrooms. Located in cul-de-sac in a quiet area of Barnhartvale. more.

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Lower Inflation in February 2011 Likely to Keep Interest Rates Low

This article appeared on The Record on March 19, 2011 and was written by Steve Rennie and Mary Gazze (The Canadian Press).

Canada’s annual inflation rate fell slightly in February, giving the Bank of Canada room to keep interest rates low over the next few months, economists say.

Statistics Canada said Friday its consumer price index edged down one-tenth of a point to 2.2 per cent in February, with rising energy and gas prices keeping inflation just above the Bank of Canada’s ideal two per cent target.

The core inflation rate, which excludes volatile items such as gas and food, fell to 0.9 per cent — its lowest level since the government started keeping records in 1984. Economists had predicted an annual core rate of 1.1 per cent and annual inflation to remain at the January level of 2.3 per cent.

It all means the country’s central bank might take its time when it comes to raising interest rates, said CIBC World Markets economist Emanuella Enenajor.

“These (inflation) numbers certainly make it less likely that a May rate hike could happen, we do have to admit,” she said.

“Such a soft core number suggests there’s less pressure for the Bank of Canada to really start hiking rates aggressively so it gives it a little more leeway.”

She said CIBC is for now sticking with its prediction that Canadians will see rates go above the current one per cent in May and that they will end up at two per cent by the end of the year.

Canada’s economic growth surpassed expectations in the last half of 2010 and the Bank of Canada may want to get ahead of any resulting spike in prices by raising interest rates and cooling lending conditions, she said.

Doug Porter, deputy chief economist at BMO Capital Markets said he believes the central is likely to stick with lower rates for the short term.

“Both headline and core inflation have eased since the start of the year, at least partly thanks to the lofty loonie,” he wrote in a note to investors, pointing out that Canada’s core inflation rate is lower than that of the U.S. and rest of the world.

“This is set to reverse next month, as Canada gets with the global program, but the low starting point is very favourable. Suffice it to say that this keeps the pressure well off the Bank of Canada to get back in tightening mode any time soon.”

Enenajor said the March inflation rate will likely depend on oil price movement during the rest of the month.

“However, expect both the annual headline and core rate to move higher in March on a year-on-year basis,” she said.

Prices were higher in February in six of the eight major categories tracked by the agency, but items like women’s clothing, footwear and travel tours cost less than a year earlier.

On a month-to-month basis, consumer goods were 0.3 per cent more expensive last month than in January, mostly due to higher energy and gasoline prices. Canadians paid 10.6 per cent more for energy during the year leading up to February, after posting a nine per cent increase in January.

Gas prices soared 15.7 per cent last month, on top of the already recorded 13 per cent increase in the 12 months leading up to January.

On a regional basis, Nova Scotia remained the province with the highest inflation rate at 3.4 per cent. Many people in that province use oil and other fuel to heat their homes.

Alberta continued to enjoy the most stable prices, with an inflation rate of 1.2 per cent.

Drivers in every province except Manitoba faced double-digit price increases for gasoline on a year-over-year basis. The price at the pumps was up 15.7 per cent from a year earlier.

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