BCREA: BC Real Estate Statistics and Housing Market Update for February 2014

BCREA: BC Real Estate Statistics and Housing Market Update for February 2014. I have included the BC Real Estate Association’s report for this month. BCREA Chief Economist Cameron Muir discuss the January 2014 statistics and how the cancellation of the Federal Immigrant Investor Program will impact the housing market. See video below and full article from BCREA is included below the video.

Strongest January Residential Sales Since 2010
Muted Impact Expected From Cancelled Investor Immigrant Program

Vancouver, BC – February 14, 2014.  The British Columbia Real Estate Association (BCREA) reports that a total of 4,244 residential sales were recorded by the Multiple Listing Service® (MLS®) in January, up 24.5 per cent from January 2013. Total sales dollar volume was $2.4 billion, an increase of 36.8 per cent compared to a year ago. The average MLS® residential price in the province rose to $565,036, up 9.9 per cent from the same period last year.

MLS Residential Sales BC January 2014 Real Estate

“Residential sales activity in the province posted the strongest January since 2010,” said Cameron Muir, BCREA Chief Economist. “Consumer demand has recovered from last year’s lower levels and is now trending at the long-term average.” The ten-year average for January is 4,276 unit sales.

“Stronger economic conditions are expected to underpin a modest uptick in home sales later this year,” added Muir.

The demise of the federal Immigrant Investor Program is expected to have little impact on the Metro Vancouver housing market. “The only impact we foresee is less pressure on the inventory of detached homes in Vancouver’s West Side, Richmond and West Vancouver,” said Muir.

The number of investor immigrant landings peaked at 5,876 in 2008 before declining to just 2,644 in 2012, with a similar number expected for 2013. These numbers include spouses and dependents. The total number of added households is estimated to be between 900 and 1,000 per year since 2011.

Kamloops Home for Sale: 32-1195 14th Street, Brocklehurst, Orchard Village, B.C. $309,900

32-1195 14th St Kamloops Real EstateKamloops Home for Sale: 32-1195 14th Street, Brocklehurst, Orchard Village, B.C. $309,900. Beautifully updated home in a nice adult orientated bare land strata. This home features a gorgeous floor to ceiling stone gas fireplace, hardwood and tile flooring throughout the home – there is no carpet to vacuum, high vaulted ceilings in the main living space, large kitchen with nook, paint updated throughout, covered patio, updated bathrooms, hot water tank updated in 2009 and central a/c for those warmer months. There are two large bedrooms, one big bedroom on the main floor with a cheater 4 piece ensuite. There is also main floor laundry with shared entry way from the two garage.

The second level features a nice family room and the second bedroom with full 4 piece ensuite. Both bedrooms would be well suited as a master suite, so this home would also suit a buyer with mobility issues. The basement is currently used as storage, workout space and workshop but is open to your ideas. This home is a delight to show and is perfect for the choosy buyer. Meticulously kept and loved for years!

Orchard Village bare land strata complex is a well kept development that mainly appeals to mature buyers. Many owners in this complex have come from single family detached homes and have purchased in this complex so they can have easy low maintenance living. Located a half block from public transportation, there are a couple local stores one block away and chances gaming centre with restaurant is one block away. Many of the larger shops, grocery stores and businesses are a quick five minute drive from this home. Downtown Kamloops is a short 10 minute drive.

This home is located in a nice quiet area. It is flat making it a great area for a daily stroll. There are local parks and hiking trails near by.

Click here to view the video tour of this home.

To view all homes for sale in Kamloops click here.

Kamloops Home For Sale: 908 9th Green Drive, Sun Rivers, B.C. $459,900

908 9th Green Dr, Sun Rivers, Kamaloops Real EstateKamloops Home For Sale: 908 9th Green Drive, Sun Rivers, B.C. $469,000. You must view this impressive 4 bedroom and den, 3 bath custom heritage style rancher nestled in the heart of Sun Rivers Golf Resort Community. This quality built, south facing home will impress the moment you step through the front door into the bright modern open floor plan with 9 foot ceilings, hardwood flooring, wood cabinetry with soft close finish, pantry with designer shelving, island with built-in wine rack, Samsung stainless steel appliances, reverse osmosis system and stylish fixtures. Soak in the picturesque city and mountain views from your oversized deck. The home offers efficiency and functionality with 2 bedrooms on the main floor, 4 piece main bathroom, spacious master bedroom, walk-in closet with professional organizing system and sumptuous ensuite with dual vanity and glass rain shower. Downstairs features an oversized family with entertainment room, 2 bright bedrooms, den and 4 piece bathroom. Double car garage is heated and yard is fully landscaped. Steps to Hoodoo’s restaurant and pro shop. Neighbourhood Fee is $130/month.

To view all homes for sale in Kamloops click here.

Kamloops Home For Sale: 108-1655 Ord Road, Orchard Mobile Home Park, Brocklehurst, B.C. $95,000

# 108-1655 Ord Road, Kamloops Home for SaleKamloops Home For Sale: 108-1655 Ord Road, Orchard Mobile Home Park, Brocklehurst, B.C. $95,000. Immaculate and well cared for 2 bedroom, 1 bath mobile home in Orchard Park offers a bright open floor plan with an abundance of storage and living space that will impress the moment you walk through the door. This home features several updates which include wide plank laminate flooring, plush carpeting in the bedrooms, vinyl windows, newer kitchen counter tops, paint, drywall and some light fixtures. The home includes 6 appliances: fridge, stove, dishwasher, microwave, washer, and dryer. It also includes central air to keep you cool during the dry hot summers. Take advantage of the convenient access this corner pad home provides with a fully fenced in yard, 2 open parking spots, 2 generous sized gardening beds, 20 foot x 13 foot storage shed, and powered workshop area off the covered porch. Close to shopping, transit, and parks. Park will sign a site lease and allow pets with some restrictions. Quick Possession is possible and all measurements are approximate.

To view all homes for sale in Kamloops click here.

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