More Canadians Plan To Buy A Home: Study Conducted By Ipsos Reid

Here is an article written by Becky Rynor of the Financial Post. She summarizes a survey conducted by Ipsos Reid that details Canadians’ feelings about the current real estate market. It would be interesting to find out how Kamloops residents feel about the current real estate market here in our city.  I would love to hear your opinion. Read below for the full article.

Most Canadians believe it is a home buyers market, with more first-timers planning on purchasing their own homes, according to a study released today by Royal Bank of Canada. “The current economic environment does not appear to have dampened Canadians’ overall confidence in the housing market,” says Royal Bank spokeswoman Karen Leggett. “Canadians continue to have an overwhelming belief in the long-term value of a home and we’re seeing this in the buying intentions of many first time home buyers this year.”

In its 16th annual RBC home ownership survey, 65% of Canadians said they believe it’s a buyer’s market, with 27% saying they intend to buy a new home over the next two years. RBC says that’s up from 23% in 2008.

The survey, conducted by Ipsos Reid, shows that almost half of respondents, 48%, said it makes sense to buy a home now instead of waiting until next year.

Younger Canadians, those under 35 years old, are most likely to spark an upsurge in homes sales, with 48% saying they plan to buy a home. That’s up sharply from 36% last year. And even renters want to get in on the action: 38% of them want to buy in the next two years.

“Low mortgage rates and favourable housing prices are influencing home purchase intentions this year and may be the reason why more Canadians are poised to purchase over the next two years,” RBC says.

A large majority of Canadians, 83%, remain positive that home ownership is a good investment. That is down slightly from 85% in 2008 and from the all-time high of 90% in 2006. Fifty-four percent of respondents said they believe house prices will be lower in 2009, a substantial change from 31% in 2008.

Nationally, respondents in Alberta expressed most interest (35%) in buying. Quebec was lowest at 22%. Those in British Columbia believed most that now is a buyer’s market (78%), compared with Saskatchewan/Manitoba, where only 34% believe so.

In Ontario, home-buying intentions have increased over past year, with 30% saying they are likely to purchase a home within the next two years. That’s up from 21% in 2008.

The online survey of 2,026 adults was conducted between Jan. 6 and 9, 2009. Ipsos Reid said the results are accurate to within plus or minus 2.2 percentage points, 19 times out of 20.

Featured Property: 377 Basalt Drive, Logan Lake, B.C. $224,900

Basalt Logan Lake View

Basalt Back of Home, Logan LakeThis large Logan Lake bungalow is located in a quiet area with a beautiful view. Basalt Front of Home, Logan LakeThere are three bedrooms on the main floor, one bedroom down and two full four piece bathrooms. Recent updates include new bathroom on the main floor, new flooring, fresh paint, 90% efficiency furnace and newer hot water tank. There is over 2,400 square feet of living space in this home that sits on a 8,276 square foot lot. There is a Basalt Living Room Logan Lakedaylight walk out Basalt Bathroom, Logan Lake Home for Salebasement and patios both off of the main floor and out of the basement.

The yard is terraced into two levels and is flat, usable space.  The single car shop in the back yard has a bonus storage room in the bottom of the shop.Basalt Drive Logan Lake

Adding to the privacy of this property there is a wooded area off of the back yard. Great value at $224,900

To search for other Logan Lake listings click here.

Kamloops and District Real Estate Association Statistics For February 2009

The February 2009 Kamloops and district real estate statistics are out. No surprise that home sales are down. The median price for homes in the Kamloops city area is down by $50,000 and the median home price for homes in all of the Kamloops district is down by $28,500. Keep in mind that the median home price can be affected by high price property sales.


Kamloops Real Estate Comparative Analysis By Property Type February 2009


Kamloops Real Estate MLS Activity February 2009

Heffley Creek, Heffley Lake and Knouff (Sullivan) Lake, Kamloops, B.C. Real Estate

Kamloops and area homes for sale click here.

Heffley Creek Kamloops Real EstateHeffley Creek is a community that is located 20 minutes north of the Kamloops city centre and five minutes from Rayleigh. There are numerous communities that comprise this area: Heffley Creek, Heffley Lake, Knouff (Sullivan) Lake and Whitecroft. Elementary students attend Heffley Creek Elementary School.

The Heffley Creek area is dominated by acreage and farms. There is a mobile home park near the Thompson River on Station road and a few single Heffley Creek, Kamloops, BCfamily homes on smaller lots. Some parts of Heffley Creek run along the Thompson river where a number of beautiful riverfront acreage and farm properties exist. There is not anything in the way of shopping in the Heffley area besides the small convenience store on the old #5 highway. Residents have to do their shopping in Kamloops.

Heffley Lake, Kamloops Real EstateHeffley lake is a beautiful lake located off Heffley-Louis Creek Road and Todd Mountain Road 44 kilometers from Kamloops. This lake is on the way to Sun Peaks resort. There are numerous waterfront properties on this lake. The homes and cabins range in size and age. There are a number of old cabins that are used in the summer months and beautiful homes overlooking the lake used year round. Heffley lake is a mid sized lake that does allow motor boats, water skiing and wake boarding. This lake is 7.2 kilometers long, 550 acres in size and ranges from 6 to 30 meters deep. Fly fishers find rainbow trout in this lake between May and late July. There are two parts of Heffley Lake – Little Heffley Lake and Big Heffley Lake. Big Heffley is predominantly the lake for motor boats and many lakefront properties. There are two resorts on Heffley Lake as well as a BC Forestry campsite. Some of the streets that surround Heffley Heffley Creek, Kamloops Homes for SaleLake are Lakeshore Road, Lower Heffley Lake Road, Shaw Road, Fisher Road, Lake Bay Road and Heffley Lake Road. For more information about Heffley Lake waterfront properties click here.

Knouff (Sullivan) Lake, Kamloops, B.C.Knouff Lake also known as Sullivan Lake is located north of Heffley Lake about 25 minutes from Heffley Creek (Yellowhead Highway #5 at Todd Mountain Road). The lake is 254.4 acres in size with a mean depth of 9.8 meters and a max depth of 24.1 meters. Knouff Lake is a small community that is still relatively undeveloped and accessed by a well maintained dirt and gravel road. There are a number of building lots and homes on Knouff lake. The area is dominated by single family homes and cabins. Gas powered motors are not permitted on this lake therefore neither is waterskiing and wakeboarding. Electric powered motors are permitted allowing small boats to troll the lake. Canoeing, kayaking, swimming, hiking, snowmobiling, ice fishing, hunting, cross country skiing, skating and camping are popular activies on Knouff lake. There is one resort on this lake as well as a BC Forestry campsite with RV access and a boat launch.  Some of the roads found in the Knouff Lake area are: Doyle Road, Knouff Lake Road, McCully Road and Finlay Road. For further information about Knouff (Sullivan) Lake properties click here.

Whitecroft is a small neighbourhood that sits at the foot of Sun Peaks. Upper Louis Creek Road, Cahilty Crescent, Cahilty Place and McGillivaray Creek Road make up the small community of Whitecroft. Many people that are interested in Sun Peaks real estate, but choose to be out of the village area often to look at real estate options in Whitecroft. The homes in this area are more affordable with more square footage in comparison to the homes in Sun Peaks. It is a five to ten minute drive from Whitecroft to the hills of Sun Peaks and 20 minutes east from Heffley Creek.

The area Heffley covers is a large region north of the Kamloops city centre. A number of communities comprise this area. Click here for real estate listings in the Heffley area.

To read more about other neighbourhoods click the link below:

Aberdeen                                          Barnhartvale                          Batchelor Heights

Brocklehurst                                    Campbell Creek                      Dallas

Deloro/South Thompson Valley      Cherry Creek                       Dufferin/Southgate

Heffley                                                Knutsford                               Juniper Heights

North Kamloops                           Paul Lake/Pinantan Lake        Pineview

Pritchard                                            Rayleigh                                  Sahali

South Kamloops/Downtown         Sun Rivers                               Sun Peaks/Whitecroft

Valleyview/Rose Hill                      Westmount                             Westsyde

Surrounding Communities

Barriere                                        Mclure/Vinsula                         Savona/Tobiano

Tranquille (Padova) Real Estate Development, Kamloops

Tranquille, also known as Padova is located at the eastern bay of Kamloops Lake. It is a beautiful piece of real estate that has been sitting vacant and overgrown for numerous years and it’s future has often been questioned. Recently the Kamloops This Week reported that plans are in the works to develop this site. I have included the article written by Melissa Lampman below detailing those plans.

After years uninhabited, worn and dilapidated buildings and mounds of overgrown vegetation are the only things still visible on the site of the historic Tranquille Sanatarium. But looking through the eyes of the property’s owners, it’s the beginning of what will one day be an extraordinary agrarian resort town.

BC wilderness Tours, owner of the property since 2000, shared it’s vision  this week. Estimated at $1 billion by completion, Tranquille on the Lake will be built around a 300-acre farm and feature eco-friendly and sustainable lifestyles. “We want to develop it into something we have never seen in the past,” said Tim McLeod, the company’s development manager. “We think it’s world class, we think it’s unusual and it’s in Kamloops.”

After getting the nod from the City of Kamloops, the plan is to design an entire town of about 4,000 people around a state-of-the-art organic farm, including greenhouses and a vineyard. The town will include lake shore pathway systems, a public beach, a marina, a five-star hotel and a mix of single and multi-family housing that’s affordable for most people.

“It’s not going to be gated. It’s not for the rich and famous – it’s for Kamloops,” McLeod said. The plan includes construction of 1,200 to 1,800 units at an average of 1,000 square feet, each designed so that 80 per cent of the sites remain as green space. In designing the town, the developers plan to use healthy building practices, such as recycled and energy-efficient materials, as well as incorporating solar and geothermal technologies. “It will take about 15 years to build entirely,” he said. “But we’re doing it for the love of healthy and healthy living.”

However, there are many inherent challenges – and Phase I is expected to cost about $100 million. Among the priorities is building a new water-supply pipeline, getting rid of the $1.5 million worth of asbestos, eliminating all lead paint and dismantling most of the existing site.

McLeod said the developers will restore and reuse as much of the original buildings and infrastructure as possible, including the old fire house and some of the cottages as well as fully restoring the sunken gardens and cemetery. “It’s going to take $5 to $6 million to take the town apart,” he said, adding they will be working with the historic society. “We’ve got quite a complex site…but we’ll be retaining it’s history and preserving it as we move forward.”

Phase I is slated to begin in the spring with other developments getting underway in 2010.

More information can be found here: Tranquille on the lake

Open House Weekend: February 28 & March 1, Kamloops Real Estate

Open houses this weekend will be in Aberdeen, North and South Kamloops and Westsyde.

Saturday, February 28th: 1073 Selkirk Ave, North Kamloops: 11:30-1:00

1073 Selkirk Ave, North Kamloops home for sale3 bedroom rancher in North Kamloops. Large kitchen with eating nook. Numerous updates include furnace, central air, windows, siding, hot water tank, paint, newer floors and updated bathroom to name a few. Fully fenced on a corner lot. $259,900

Saturday, February 28th: 105 Chestnut Ave, North Kamloops: 1:30-2:30

103 Chestnut Ave, North Kamloops3+2 bedroom, 2 bathrooms. Lovely property adapted with innovation by DW Builders ideal for your family dream home. Bkyd is charmingly landscaped w/grape vines, gardens, fruit trees & cedar shed. Brand new furnace, C/air, 2 gas F/P’s, jacuzzi tub & newer laminate for all the comforts of easy maint living. $319,900

Saturday, February 28th: 693 St. Paul Street, South Kamloops: 3:00-4:00

693 St Paul Street, South Kamloops2+1 bedroom, 1 bathroom Bungalow. One of the cheapest single family homes in the area. Den and bedroom in the basement. Bring your updating ideas. $214,900


 Sunday, March 1st: 2410 Abbeyglen Way, Aberdeen: 12:00-1:30

2410 Abbeyglen Way AberdeenLarge, fully finished basement entry in Aberdeen home with 5 bedrooms, den & 3 full bathrooms. Living room, family room and formal dining room on the main floor. Fenced yard. 2 gas fireplaces, central air, central vac & underground sprinklers. $398,000

 Sunday, March 1st: 755 Garnet Road, Westsyde: 2:00-3:30

755 Garnet Road, Westsyde2+2 bedroom, 2 bathroom single family home in Westsyde. Updated throughout including new kitchen. Sits on a large lot that could be subdivided. $349,900



For up to date Kamloops and surrounding area home real estate listings click here.

Featured Property: 1969 Kechika Street, Juniper Heights, Kamloops

1969 Kechika Juniper Heights Home For Sale

Juniper Heights or Juniper Ridge is a community located 10 minutes south east of the Kamloops downtown core and sits above Valleyview. Juniper Heights is a great family community Kechika Juniper Ridge Kitchenwhere children of all ages can keep busy with outdoor activities. There are no stores in Juniper, but there are plans in the works to develop a small commercial area.Kechika Juniper Ridge Back Yard

This Juniper Heights home is located in Juniper West. 3,100 square feet in size, and is beautiful inside and out. This three bedroom bungalow has two dens and three full bathrooms. There is a fully Juniper Ridge/Heights Home For Salefinished basement with a rec room, games room, den, bedroom and utility room. This property also has a two car garage with concrete driveway, fully fenced yard with exposed aggregate patio, central air conditioning and underground sprinklers. Priced at $489,900, this property is well priced and won’t last long. Many comparable homes in this area are listed for well over $500,000. Call me anytime to view this beautiful home.

To view other Juniper Ridge listings click here.

Should You Sell Or Rent Your Kamloops Home?

Many home owners today in Kamloops are wondering whether they should sell or rent. Homes are on the market for a longer period of time. More homes listings are expiring and many homeowners are getting frustrated with the recent decline in Kamloops real estate prices. I have heard numerous times in the past few months “I am going to rent my home for a year and sell it at a later time”. This plan works in theory, but when you dig deeper the rate of return on capital makes keeping the property a poor investment depending on the numbers.

Capitalization rate is a measure of the ratio between the net operating income produced by an asset (real estate) and its capital cost (the original price paid to buy that real estate) or alternatively its current market value. I have found a capitalization rate calculator that indicates “Rent” or “Sell” once you input the numbers for your property. This calculator makes the decision very straight forward. Unless you are receiving around a 5.7% rate of return, holding on to a property and renting it is not beneficial to you according to this calculation.

Click here to try the Rent or Sell calculator.

1 235 236 237 238 239 246