New Listing: 115-1901 Qu’Appelle Blvd, Juniper Ridge, Kamloops, BC, $649,900

Juniper Heights

New Listing: 115-1901 Qu’Appelle Blvd, Juniper Ridge, Kamloops, BC, $649,900. Like new townhouse in The Ridge at Juniper West. This 3 bed + Den, 4 bath home in a great neighbourhood is sure to please.

The main level features a stunning kitchen with shaker-style cabinets, stone countertops, a large island with seating, and a stainless-steel appliance package that includes a gas range. The kitchen flows seamlessly through to the living room which has a beautiful fireplace feature and large windows that bring in tons of natural light. On the other side of the kitchen is a large dining room and an adjacent oversized deck which is perfect for entertaining. There is even a convenient 2pc guest bathroom on the main floor.

Upstairs is a well-appointed primary bedroom suite that is sure to please. The primary suite has a large walk-in closet with beautiful built-ins plus a 4pc ensuite bathroom with double vanity and a gorgeous, tiled shower. Also upstairs is an additional bedroom, a den, stacked laundry unit in the hall closet, and another 4pc bathroom.

The lower level has a 2pc bathroom, a good-sized entryway with room to take your shoes/coats off, and an additional bedroom that is currently used as an office. This bedroom features a sliding glass door out to the front patio.

Lots of parking in this unit with a garage, a driveway that fits a larger vehicle, and an additional parking stall. Plus, there is tons of street parking out front. Pets allowed with restrictions. Don’t miss this stunning and well-appointed like-new home with GST paid.

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New Listing: 1775 Pratt Rd, Barnhartvale, Kamloops, BC, $839,900

Barnhartvale

New Listing: 1775 Pratt Rd, Barnhartvale, Kamloops, BC, $839,900. Experience country living in the city. This amazing acreage property features a recently updated 2 bed 2 bath manufactured home and a large container shop on the property.

All of this is on an incredible 29 acres of land within city limits. This home is on city water but there is also a newly drilled high-production well so you’ll have plenty of water. There are 2 driveway access points from both Ladner Road and Pratt Road which allows for a convenient wrap around road through the property. 200-amp power service gives lots of potential for future building or powering the shop.

Inside the home you will find a large open-concept living/dining/kitchen area with 2 doors into the house. There are 2 bedrooms including a large primary bedroom with a 4pc ensuite. An additional 4pc bathroom plus laundry area round out the home. New vinyl-plank flooring inside, many plumbing updates, and new paint throughout the home.

Outside is a brand-new deck with composite decking that has great views of the surrounding mountains and property. New front siding and skirting + a new roof. Brand new septic system with capacity for a larger home.

The shop on the upper portion of the property is permitted and built from two large sea cans. It has lots of overhead clearance for large vehicles and offers tons of covered parking and storage. Nothing to do but move in and enjoy this home OR live in the home temporarily and build your dream home on this exceptional property.

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New Listing: 14-2030 Van Horne Drive, Aberdeen, Kamloops, BC, $619,000

Aberdeen
14-2030 Van Horne Dr, Aberdeen, Kamloops Real Estate for Sale

New Listing: 14-2030 Van Horne Drive, Aberdeen, Kamloops, BC, $619,000. Level entry 3 bedroom corner lot detached home in sought after Dunraven Terrace in Aberdeen!

On the main floor this home features a good sized entry with closet and access to the single car garage. Beautiful hardwood flooring runs throughout most of the main floor. There is a nice sized kitchen with updated stainless steel appliances and tile backsplash. The kitchen also has a eat in nook area that leads to the deck where you can enjoy the views of the city and river valley. The living room and dining room are open to one another with large windows and a corner gas fireplace. The main floor also features a good-sized primary bedroom with a 3 piece ensuite and an additional bedroom along with a 4 piece bathroom. The pantry closet on the main floor has laundry hook ups and would be easy to accommodate a change to main floor laundry.

The basement has a spacious rec room with gas fireplace and lots of windows, large storage room and down the hall is 3 piece bathroom, a laundry room and a bedroom with outside access. You will also find a 1 car garage, and a heat pump (central a/c).

This home is minutes away from transportation, schools, shopping, dog park and much more. Easy to show! RV parking subject to availability.

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BCREA Mortgage Rate Forecast March 2024

B.C. Real Estate News, Mortgage Information

BCREA has released it’s latest Mortgage Rate Forecast for March for 2024. They outline the main highlights as:
– Canadian mortgage rates down sharply to start 2024.
– The Canadian economy – no recession yet, but growth is very slow.
– Waiting for the Bank of Canada to cut.

Click Here to download the full document. The report is summarized below.

Mortgage Rates

In early October 2023, Canadian five-year bond yields reached a 17-year high at 4.42%. However, within four weeks, they dropped by more than 100 basis points. This significant swing in borrowing costs was triggered by better-than-expected inflation data in both the US and Canada, starting in early fall and continuing through the end of 2023. Consequently, financial markets adjusted their expectations for the timing and extent of monetary easing by the Bank of Canada towards more aggressive rate cuts in the future.

Although bond yields rose slightly in February after the initial drop, the current trend suggests a five-year fixed mortgage rate of approximately 5.2%, which is close to the current average offered rate by major lenders and not far from the anticipated rates by the end of 2024. Discounts on variable rates have increased from prime minus 30 basis points to prime minus 60 basis points, leading to a slight decline in average variable rates. However, a more significant decrease in variable rates is anticipated to occur once the Bank of Canada initiates rate cuts.

Economic Outlook

The Canadian economy narrowly avoided a technical recession in the fourth quarter with meager growth. However, various indicators suggest a fragile economy. Falling real GDP per capita and negative growth in Private Domestic Demand indicate underperformance. Though real gross domestic income recently returned to positive territory, it remains a concern. Despite this sluggishness, the labor market shows surprising resilience. Job growth, though not matching population expansion, persists, with over 40,000 jobs added in February. The national unemployment rate remains steady at around 5.8%, close to pre-pandemic levels. Additionally, wage growth has exceeded 5% for the past three months, significantly outpacing inflation.

Bank of Canada Outlook

Financial markets exaggerated expectations at the end of 2023, pricing in six rate cuts by the Bank of Canada, which is unlikely. However, it’s highly probable that the Bank will start lowering its policy rate this year, with consensus suggesting a cut of up to 2.5%, or 250 basis points. The timing of the first rate cut remains uncertain, but markets heavily favor a 25 basis point cut at the June meeting, with over a 90% probability of a total 100 basis points cut by December. The Bank’s decision in March emphasized the need for progress in bringing core inflation below 3% to avoid premature actions. Considering the significant drop in core inflation in February and the sluggish economy, an April rate cut is plausible, and if not April, then almost certainly June.

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“Copyright British Columbia Real Estate Association. Reprinted with permission.” BCREA makes no guarantees as to the accuracy or completeness of this information.

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