New Listing: 1941 Cardinal Drive, Valleyview, Kamloops, BC $374,900

1941 Cardinal Drive, Valleyview, Kamloops Home for Sale

New Listing: 1941 Cardinal Drive, Valleyview, Kamloops, BC $374,900. Family-oriented Valleyview location ‘first time on the market’.

3+1 bedroom home, quiet area with mountain views, great fully fenced yard for kids, detached double garage/shop, garden shed plus carport with large patio deck accessed from dining room – something for everyone! Updates include new roof & attic insulation, soffit, facia & gutters, high efficiency furnace/heat pump/air conditioning, patio decking and toilets.  

Kitchen boasts wood cabinets, new garburator and all appliances within last 5 years. Original hardwood floors throughout main have been meticulously cared for. Spacious living room with wood fireplace and oversized front window.  Master bedroom has 2 piece ensuite and main 5 piece bath includes double sinks.

High-ceilinged basement has family room and hobby area, bedroom (with sink rough-in), 3 piece bath, huge laundry room with outside access and a 15×12 storage/cold room. Inground sprinklers front and back. Quick walk to Grades 8-12 high school & close to shopping & recreation. Suite potential. Please allow 24 hours to show.

To view all homes for sale in Kamloops click here.

New Listing: 1328 Watson Larson Road, Barnhartvale, Kamloops, BC $649,900

1328 Watson Larson Road, Barnhartvale, Kamloops Home for Sale

New Listing: 1328 Watson Larsen Road, Barnhartvale, Kamloops, BC $649,900. Beautiful and immaculate acreage with 15 acres irrrigated grazing, the remainder tree covered mountain ensuring privacy. A custom 2 bedroom log home.

Main floor is an open concept with amazing views from every window. Master bedroom is an open loft looking over the living room. Basement can have additional bedrooms, rec room or bathroom. Home has newer Geothermal heating/cooling system and a wood furnace for back up. Well is approx 30 gpm with a 2 year old pump. Property has existing hookups for a mobile home.

1328 Watson Larson horse pen

14×94 barn has 4 stalls and hay storage, power, and stock water. Riding arena, round pen, property fenced and cross fenced including electric fencing. Irrigation pipes, risers and pump included with irrigation rights. Heavy duty anchored car storage stays. Quiet area only 20 minutes to Kamloops. Excellent cell service.

To view all homes for sale in Kamloops click here.

Kamloops Housing Market ‘Surged’ During First Part of 2015, Infotel

This article appeared in the Infotel (Kamloops InfoNews.ca) on June 2nd, 2015 and was written by Dana Reynolds.

KAMLOOPS – With more houses being built and home-buyers spending more the Kamloops housing market is off to a very good start in 2015.

According to Canadian Mortgage and Housing Corporation single-unit housing starts in Kamloops ‘surged’ in the first three months of 2015. The report from the corporation shows every category of housing start grew during the first quarter, with the exception of rental apartments. The first quarter of 2015 saw just one rental unit built, compared to 88 in 2014.

The corporation notes there is a provincial trend towards multi-family dwellings and the trend is seen in Kamloops as well, where the number of starts on semi-detached homes tripled. Single-family homes almost doubled as well though, growing to 33 in the first quarter of 2015 from 19 during the same period in 2014.

The number of completions during the first quarter were up 76 per cent as well, with 92 more homes finished in quarter one of 2015 than in 2014.

The price of newly built homes during this time period averaged about $490,000, a more than $40,000 increase from the first quarter housing prices in 2014. Of the 69 single family homes sold in the first quarter of 2015, 68 per cent came in under $500,000. There have also been more people who have purchased houses in the $500,000 and up range so far this year, with 22 homes falling within that price range in the first quarter of 2015, compared to just 13 during the same time period last year.

CMHC Mortgage Holders Spend 26% of Income on Housing Loan Defaults at Low 0.34%, Showing Strong Ability to Manage Debts

This article appeared on CBC.ca on the 29th of May 2015.

CMHC Canadian Mortgage and Housing CorporationCanadians are showing a strong ability to manage their debts even as housing prices rise, with arrears on CMHC mortgages at a low 0.34 per cent for the first quarter of this year, according to new figures from the federal housing agency.

That means there were 9,572  Canada Mortgage and Housing Corp.-insured mortgages in arrears in the quarter, while it insures a total of 2.8 million mortgages. It had to pay just 588 claims.

The gross debt service ratio for Canadian homeowners – the percentage of housing costs to gross monthly income – sits at 26 per cent for the three months ended March 31.

That’s almost the same as in the first quarter of 2014, but up slightly from 25 per cent in 2013.

The ratios are highest in Alberta, British Columbia and Ontario, where housing prices have been rising rapidly. New homeowners in those provinces are also more likely to need a CMHC mortgage, which is necessary when buyers do not have a 20 per cent down payment.

However, a small proportion of CMHC-insured homeowners – 12.1 per cent – have a gross debt service ratio of more than 35 per cent, meaning more than a third of their monthly income goes to housing costs.

Another 21 per cent of CHMC-insured mortgage holders are juggling housing costs of 30 to 35 per cent of their gross income.

As housing costs rise, more than a quarter of the mortgages insured by CMHC are for over $400,000.

However, the average insured loan amount was $238,630.

In its annual report the federal agency predicts today’s low interest rates will continue to stimulate demand for housing.

It expects mortgage rates will not rise in Canada before the end of 2015.

The report comes after CEO Evan Siddall said CMHC’s share of the mortgage market had dropped from about 90 per cent of new mortgages to about half of new mortgages.

Ottawa had encouraged the agency to reduce exposure to mortgage defaults for the Canadian taxpayer, saying it wanted private insurers to take over the risk.

In its annual report, CMHC said it insured mortgages worth $543 billion in 2014, down 4.1 per cent from 2012, and below the legal limit of $600 billion.

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