Price Gains To Crimp B.C. Real Estate Growth In 2010, 2011

From the Vancouver Sun.

The mortgage-rate fuelled bounce back of British Columbia real estate in 2009 has probably used up most of the market’s growth for 2010 and 2011, according to a new estimate from the B.C. Real Estate Association.

Association chief economist Cameron Muir is forecasting province-wide sales in 2010 to increase only three per cent above the hot 2009 results to 90,100 sales in 2010, then slip back three per cent to 87,500 units in 2011.

The provincial average price, Muir is forecasting, will advance five per cent to $490,900 in 2010 then eke out just one-per-cent growth to $494,800 in 2011.

Muir characterized his forecast as 2009 ending with a “gold medal finish, [which] will give way to a silver medal performance in 2010.”

“Affordability is the biggest factor over the longer term,” Muir added in an interview, “because home prices in markets such as Victoria and Vancouver are trending on record levels, and mortgage rates are likely to edge higher at the end of this year and through 2011.

“That’s going to increase the carrying cost of housing, and by extension, overall housing demand.”

Home carrying costs, the monthly mortgage payment, taxes and other fees, saw a dramatic trim during the downturn that lasted through the last half of 2008 and first part of 2009, but Muir noted that that advantage is rapidly disappearing.

In his forecast, Muir estimates that the markets that roared back the most in 2009 — Metro Vancouver, the Fraser Valley and Victoria — will be among those with the most muted results in 2010 and 2011.

Save Kamloops: Say No To The Toxic Waste Incinerator

A Toxic Waste Incinerator in Kamloops? No Thanks!

The Issue:  The Aboriginal Cogeneration Corporation has applied to the BC Ministry of Environment for an air emissions permit for its proposed incinerator to burn CP Rail’s creosote ties. ACC wants Kamloops city council to allow it to dump incinerator ash and waste water in our landfill and sewage lagoons. Kamloops is a city of 85,000 people situated beside an important salmon river. It makes no sense to allow a company with no track record to pilot-test a toxic waste burning facility in our community.

What to do: If you are concerned about this issue, please write to Rick Adams at the Kamloops Ministry of Environment and to Kamloops City Council, and support Save Kamloops events. To find out more about what’s going on, please go to or email moc.liamgnull@spoolmakevas.

Health and environmental concerns:

  • The Canadian government is concerned about creosote-treated wood products
  • The Canadian government has added creosote-impregnated waste materials to its Priority Substances List

The substance creosote-impregnated waste materials (CIWM) was added to the Priority Substances List under CEPA because of concerns about the potential for environmental contamination from waste materials.

  • Creosote contains harmful chemical compounds.

Creosote is a complex and variable mixture produced from coal that is made up of more than 300 compounds. There are five major classes of compounds in creosote:

  • Aromatic Hydrocarbons including PAHs, alkylated PAHs, benzene, toluene, and xylene (PAHs can constitute up to 90% of creosote);
  • Phenolics including phenols, cresols, xylenols, and naphthols (1 to 3% of creosote);
  • Nitrogen-containing Heterocycles including pyridines, quinolines, acridines, indolines, carbazoles (1 to 3% of creosote);
  • Sulphur-containing Heterocycles including benzothiophenes (1 to 3% of creosote); and
  • Oxygen-containing Heterocycles including dibenzofurans (5 to 7.5% of creosote) (U.S. EPA, 1987).
  • “Pure” creosote is denser than water. For some wood preservation uses, creosote is mixed 1:1 with fuel oil.

Featured Property: 1805 Hycrest Place, Brocklehurst, Kamloops, B.C. $319,900

Brocklehurst Real Estate Home 1805 Hycrest PlaceImmaculate home on large corner lot in Brock. Close to shopping centre, transportation and schools. 3 bedrooms on main with large living room. Large rec room & bedroom in basement. Lots of storage & single car carport. Newer furnace (’06) and hot water tank (2 years old). 2 fireplaces, two 4 piece bathrooms and basement has outside access with suite potential. Tons of space for a shop in the back yard. Large covered deck off of bright kitchen. Fruit trees and grape vines in back yard.

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Featured Property: 659 Valdes Drive, Brocklehurst, Kamloops, B.C. $389,900

Kamloops House 659 Valdes Drive DiningroomGreat home in a quiet area close to shopping, transportation and schools. Three bedrooms up with a two bedroom in-law suite. Large detached shop with 100 amp service. Back yard access from side of home. Above ground pool and 3 patios. Fully fenced private yard. Many recent updates to the home including roof, siding, windows, 200 amp service and central A/C. $389,900.

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Featured Property: 85-665 McBeth Place, South Kamloops, B.C. $249,900

Kamloops Real Estate For Sale 85-665 McBeth85-665 McBeth Kamloops HomeThis South Kamloops townhouse is within steps of the Thompsons River University, shopping and transportation. 3 spacious bedrooms, 2 bathrooms, large rec room, lots of storage, huge patio and small private back yard. There is unrestricted rentals and one pet is allowed in this complex. New furnace, paint, fence, roof and patio. Priced at $249,900

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Open House Weekend: Sunday, January 17, 2010: South Kamloops & Brocklehurst

This Sunday’s open houses will be held in the South Kamloops west end and in Brocklehurst.

Kamloops Brocklehurst Real Estate 2586 GlenviewSunday January 17, 2010: 2586 Glenview Avenue, Brocklehurst: 11:30am-1:00pm

Great family home in Brock. Located on a nice street and situated on a 1/3 of an acre lot. 3+1 bedrooms and 1 bathroom. New flooring, paint and baseboards. Wired detached shop in back. Numerous fruit trees. $329,900

Kamloops Real Estate 353 Seymour St Sunday, January 17, 2010: 353 West Seymour Street, South Kamloops: 1:30pm-3:00pm

One of a kind South Kamloops West End home. 2 bedrooms and 2 bathrooms. Beautiful view. Fully enclosed garage. Updated flooring, siding, kitchen and bathrooms. 100 amp service. Terraced back yard that is very private. $224,900

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Open House Weekend: Saturday, January 9, 2010: South Kamloops

This weekend’s open house will be held in South Kamloops West End.

Kamloops House For Sale 571 Garden Terrace Vaulted Ceiling Saturday, January 9, 2010: 571 Garden Terrace, South Kamloops West End: 11:30-1:00

Large custom built home in the South Kamloops West End. 5 bedrooms & 4 bathrooms. There is a two bedroom in-law suite with a separate entrance. Main floor has an open floor plan with vaulted ceilings. Huge master suite with a five piece ensuite. Over 3,400 square feet of living space. Single car heated gar with tons of extra parking and RV parking. Beautiful views & located in a cul-de-sac. Priced at $459,900

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