North Barriere Lake B.C. Real Estate. Located North East of Kamloops

For up to date Kamloops and North Barriere Lake real estate for sale click here.

If you are looking for information on East Barriere Lake click here.

north-barriere-lake-real-estate-01North Barriere Lake is approximately 60 minutes north east of Kamloops.  It is 520 hectares, has a mean depth of 34.7 meters and maximum depth of 53.9 meters. North Barriere Lake is the home to some of the best fly and troll fishing in the region. Kokanee, rainbow trout and sockeye salmon are commonly found in this lake.

 

 

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There is a Forestry Recreation Site which is known as Hollywood Beach. This area is a very popular place for families to camp in the warmer months. Not far from Hollywood Beach is the North Barriere Lake Resort. This resort is located on seven acres of land with lake frontage. The resort boasts 60 RV and tent sites with electricity, water and sewer hook-up. There are also seven cabins which can sleep two to eight people. There are a number of activities the whole family can enjoy at this resort.

There is not very much development in the way of cabins or single family homes in the North Barriere Lake area, which makes it a very relaxing get away. For further information and listings click here.

Sell Your Home: Why You Should Pay A Good Commission To A Kamloops Buyers’ Agent

What is your home worth? Click here for a free online home evaluation.

Today’s real estate market in Kamloops is very competitive. There are a number of homes for sale that are very similar in characteristics and also in price. There are a few factors that affect the sale of homes that are similar. Simple, obvious things such as curb appeal, interior design and upkeep, clutter, scents, accessability, etc, are all issues to be aware of when selling a home. There is one underlying, very important home selling technique that is often overlooked by sellers and ultimately puts their home at a significant disadvantage. This factor is the commission a seller offers the buyers’ agent (or Realtor representing a buyer) in order to bring a qualified buyer to purchase their home.

It is a fact that Realtors work with the most qualified buyers. These buyers have often already been pre-approved for a mortgage and are ready to make an offer on a property in the near future. By offering a less competitive commission to the buyers’ agent, you are not motivating Realtors to come bring their qualified buyers to your home and sell it. The the best way to describe it is, if you went to work for a month, and at the end of the month you were told you weren’t going to make 100% of your normally expected pay how would you feel? This is the sentiment out there in the market, especially now that buyers have so many homes to choose from. We are now seeing buyers agent selling bonuses and higher commission rates than have been seen over the past few years. Sellers are beginning to understand that money motivates. Homes that offer less commission to buyers agents are often overlooked. Unfortunately I don’t make the rules, I am just passing on this information for the seller’s benefit. Please don’t make this mistake.

If you are motivated to sell your home ensure you do the basic things such as maintaining an attractive curb appeal, keep your home neat and uncluttered, etc. More importantly if you are selling in the Kamloops real estate market, offer a competitive commission to the buyers’ agent, otherwise you are just hurting yourself financially in the long run!

Open House Weekend: February 7th & 8th, Kamloops & Logan Lake

Open House Events This Weekend: North Shore, Kamloops and Logan Lake

Saturday February 7th: 12:00pm-1:00pm

1073 Selkirk Ave, North Kamloops1078 Selkirk Ave, North Kamloops, $269,900

3 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.

Saturday February 7th: 1:30pm-2:30pm

Real Estate For Sale: 24-1836 Greenfield Ave, Kamloops24-1836 Greenfield Ave, Brocklehurst $319,000

2 year old home with 3 bedrooms and 3 bathrooms. Very spacious with room to grow. Fully finished basement with family room. Quiet neighbourhood and close to schools.

Sunday February 8th, 12:00pm-2:00pm

Real Estate For Sale: 419 Opal Drive, Logan Lake419 Opal Drive, Logan Lake $229,900

3+1 Bedroom + den cathedral entry home in Logan Lake. 2 full bathrooms. 1 car garage. Numerous reno’s done recently including kitchen, new light fixtures, flooring, UV windows, bathroom. Open floor plan on the main. Large bath tub in main floor bathroom. Large sun deck in the back and storage shed in yard.

Low Interest Rates + More Negotiating Power = More Affordable Real Estate!

What usually happens, as interest rates decline, real estate buying power increases. Currently interest rates are at the lowest they have been in years. The lower interest rates coupled with the current buyer’s market makes buying a home more appealing. Buyers find that when the interest rates are very low, they qualify for more of a loan than when rates are high.

This shift in the market has created a great opportunity for first time home buyers, buyers and renters looking to get back into the Kamloops market. The savings on home buying are in both the purchase price of the home and interest charges. Buyers are able to negotiate more aggressively on a contract now than years in the past. I have found that lately more first time home buyers have begun their search for the first time. Buyers who are also looking to get back into the market or have been renting for a number of years are also beginning to see the value in the lower home prices and low interest rates. Homes in Kamloops are finally beginning to be priced in a range where buyers can justify purchasing a home. Plus, for first time home buyers, they receive further savings because first time home buyers don’t have to pay property transfer tax.

All these factors make buying your first home, getting back into the real estate market, moving up to a larger home or downsizing your home more of a reality!

B.C. Real Estate Association Market At A Glance

Kamloops Real Estate: 2008 YTD MLS Transactions by Board (small boards) Here are some charts that the B.C. Real Estate Association has released. I personally find it helpful to see statistics as an image or chart, sometimes just numbers are not enough. The first chart is a comparison of all the smaller boards throughout B.C.  Kamloops is one of the mid-sized boards among the smaller markets. As you will see in this chart, the Kootenays, Kamloops and Chilliwack appear to be very similar in the amount of activity for MLS listing sales. You can click on the image to enlarge it.
 

Kamloops Real Estate: Housing Market MLS Listing ActivityThis next set of 4 graphs shows the direction of the market. From left to right the graphs read Kamloops Residential Market Conditions, Kamloops Quarterly Residential Price, Kamloops Months of Residential Supply and finally bottom right Kamloops Residential Unit Sales. It is interesting to see the sales to active listings ratio in the first graph and how the lines flipped to the downside suddenly. I think that this flip took a lot of people by surprise. The bottom left chart shows the strong buyers market that we are in and how it shot up mid to late 2008.
 

Economic Uncertainty Drives Real Estate Plunge Across Lower Mainland

I found this article on the Vancouver Sun’s website today. Provincially the real estate market is feeling the squeeze. The Sun reported that real estate sales are down 58% in the Lower Mainland. In Kamloops, the Kamloops and District Real Estate Association released it’s January statistics and our board is reporting 64% drop in residential sales for the month of January. Read below for the full story, it is focused more on the Lower Mainland, but keep in mind our market is not so different here in Kamloops. We are affected by some of the same economic factors that the Lower Mainland is affected by.

Home sales at lowest point since early 1980s, according to reports

Real estate sales across the Lower Mainland crawled along in January, real estate boards reported Tuesday, with consumers reluctant to buy during recessionary times and with expectations that prices will continue to decline.

In Metro Vancouver, Realtors recorded 762 Multiple-Listing-Service sales in January, down 58 per cent from the same month a year ago, and the so-called benchmark price for a typical detached home down 11 per cent to $659,638 compared with January of 2008.

In the Fraser Valley, Realtors booked a similar 59-per-cent decline in sales at 359, and the so-called benchmark for a typical single-family home down 9.6 per cent from the same month a year ago.

Both the Real Estate Board of Greater Vancouver, which covers most of Metro except Surrey, and the Fraser Valley Real Estate Board, which takes in Surrey and White Rock, said sales were at levels not seen since the early 1980s.

“We’re seeing the same factors at play: uncertainty in people’s minds about where the economy is going and where their jobs are going,” Robyn Adamache, a market analyst with Canada Mortgage and Housing Corp. said in an interview.

“As well, I think at lease some people are expecting further price reductions and perhaps are holding off on buying waiting for that to happen.”

The B.C. Real Estate Association on Monday released its latest forecast that predicted prices will decline 16 per cent in Metro Vancouver over 2009.

Adamache added that January is traditionally a slow sales month and not a month that can be used to gauge how the year will go, but “we’re sort of well below [sales levels] we’ve seen in previous Januarys.”

Both real estate boards also saw inventories of unsold homes decline in January. In Metro Vancouver, covered by the Greater Vancouver board, January new listings were down 30 per cent to 3,700, and current active listings of 13,966 are down 6,000 from October.

However, Adamache said that sales have slowed so much that the months of supply in unsold inventory has crept up to 11 months, the highest it has been in 10 years.

She added that the ratio of sales to new listings has dropped to a level that has not been seen since at least 1984, the first year for which she has records.

In the Fraser Valley, total inventory of unsold homes in January stood at 8,630 units, 26 per cent higher than January 2008, but 30 per cent lower than the record high inventory recorded last September.

Tsur Somerville, director of the centre for urban economics and real estate at the Sauder School of Business at the University of B.C., said it will be later in the year before we know how much the market is still declining, or whether there has been any stabilization.

The reason, Somerville said, is because the year-over-year comparison is with a month that had relatively high sales, and the dramatic drop-off in Vancouver’s markets did not begin until later in the year.

“I think we’re still declining just because the [sale decline] is 60 per cent versus 40 to 50 per cent,” Somerville said in an interview, “but we won’t get a sense of how much and at what rate until later.”

Dave Watt, president of the Real Estate Board of Greater Vancouver, said the last 10 days of January did see realtor showings and sales pick up relative to the beginning of the month.

Watt said the buyers in the market are “back to looking for a home to purchase and are very much thinking long term.”

Kamloops and District Real Estate Association Statistics For January 2009

The numbers are out. The Kamloops and District Real Estate Association has released the statistics for January 2009. It is amazing to see the difference between the number of sales this January vs. the number of sales last January. I thought the numbers would be up significantly from December 2008, but I was definitely wrong (December there were 60 residential sales). Residential unit sales were up by only three for the past month. I have noticed an increase in the amount of buyers actively looking for a home, but obviously many buyers are waiting to see what will happen with the prices in the market in the next couple months or so. I will be interested to see the February statistics and see if there is a significant change from January, which I believe should occur.

Kamloops Real Estate, Comparative Analysis By Property Type For January 2009.

Kamloops Real Estate Comparative Analysis By Property Type January 2009

Kamloops Real Estate Comparative Analysis By Property Type January 2009

Kamloops Real Estate, MLS Activity Report For January 2009.

Kamloops Real Estate, MLS Activity Report January 2009

Kamloops Real Estate, MLS Activity Report January 2009

Listing Your Home At The Right Price Affects Your Bottom Line

What is your home worth? Click here for a free online home evaluation.

Home For SaleWhen you are selling your home, the price you set is a critical factor in the return you will receive. That is why you need a professional evaluation from an experienced Realtor that is well educated about your area of Kamloops. This person can provide you with an honest assessment of your home based on several factors including:
* Current market conditions
* Condition of your home
* Repairs or improvements
* Time frame

In real estate terms, market value is the price at which a particular house, in its current condition, will sell for within 30 to 90 days. Today, in Kamloops real estate market, we are finding that homes are taking longer to sell, on average roughly 70 days for a well priced home. This is why it is important to price your home competitively as well as ensure it is in the best condition to show to buyers as possible.

If the price of your home is too high several things could happen:
* Limits buyers: Potential buyers may not view your home only because it would be out of their buying range.
* Limits showings: Other Realtors and buyers may be less reluctant to view your home.
* Used as leverage: Other Realtors may use this home to sell against homes that are better priced.
* Extended stay on the market: When a home is on the market too long, it may be perceived as defective. Buyers may wonder, “what is wrong,” or “why has not this sold?”
* Lower price: An overpriced home, still on the market beyond the average selling time, could lead a lower selling price. To sell it, you will have to reduce the price, sometimes, several times. In the end, you will probably get less than if it had been properly priced at the start.
* Wasted time and energy: A bank appraisal is most often required to finance a home.

It is a well known fact that well-kept homes, properly priced in the beginning, always get you a quicker sale for the best price. In a buyers market, like we are experiencing currently, often you need a professional to assist you in the sale of your home.

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