Kirsten Mason, Author at Kamloops Real Estate Blog

South Kamloops Downtown, B.C. Real Estate

January 23, 2016 Kirsten Mason Kamloops Neighbourhoods

Neighbourhood: South Kamloops Downtown, B.C. Real Estate. South Kamloops covers the entire downtown core and smaller neighbourhoods east and west of the downtown core.

The name Kamloops refers to the flowing together of the north and south Thompson rivers named by the Secwepemc Indian Band or Shuswap people. The discovery of gold brought many adventurers into the region in the late 1850’s. Once B.C. became a part of Canada in 1871, Kamloops received their first trans continential railroad in 1886. The first South Thompson bridge was built in 1887, to be followed by one to North Kamloops in 1901.

Kamloops was incorporated in 1893 with a population of less than 1,000 people. Numerous industries such as Royalite Refinery opened in 1955, Kamloops Pulp and Paper Mill (now Domtar) was established in 1964 and in 1977 Afton Mines and Smelter commenced operations.

Kamloops is still a central hub, as it sits approximately halfway between Calgary, Vancouver, and the northern Cariboo-Chilcotin regions.

Click here to view properties for sale in South Kamloops.

Properies & Real Estate

The downtown area of Kamloops is known to have a number of heritage homes of all sizes. The furthest westerly area of South Kamloops and the south eastern area have mature homes but not heritage homes.

A number of residential units exist within the downtown core. There are many apartment units (newer and older) that are very close to downtown conveniences. Single family homes are scattered throughout the downtown core and are often converted into commercial space. Many heritage style homes along Seymour Street east of 6th are used for commercial space. A number of professional offices and health related services are located here. South of Seymour there are some nice residential streets such as St Paul Street, Nicola Street and Battle Street. Battle does have a couple of commercial practices but for the most part is residential.

Buyers will find the majority of single family homes east of 6th Avenue. The homes in this part of South Kamloops are mostly smaller residential homes often under or just over 2,000 square feet. South east of the Kamloops downtown area is a nice neighbourhood that is home to a number of families because of the close proximity to elementary and secondary schools. This area of South Kamloops sits south of Columbia street, north of the trans Canada Highway #1, west of 13th Avenue and east of 6th Avenue. Dominion Street, Pine Street, Pleasant Street, Munro Street, Fraser Street and Douglas Street are all popular residential streets in the area. Most homes in this area are older and typically built between 1950 to 1980’s with some random newer construction homes within the neighbourhood. Many owners have chosen to upgrade and renovate their homes in this area with many significant renovations being completed. The character of many of the homes has been preserved which adds to the character of this neighbourhood.

There are a number of playgrounds and parks in this area of South Kamloops. Access to the Peterson Creek hiking trails also is close by. The Sagebrush Theatre is also located in this neighbourhood.

South Kamloops west also known as the West End has a variety of real estate. Seymour Street West, Battle Street West, St. Paul Street West, Nicola Street West, Clark Street, Connaught Street, Nicola Wagon Road and Lee Street have a number of heritage homes that are often over 2,000 square feet in size. This region is fairly sloped and the yard sizes vary with each property because of the changing incline.

At the top of Battle Street West where it meets Strathcona Terrace the neighbourhood is very different from the one just east. The homes in this area are mature (1950’s to 1980’s) but not heritage homes. There are also a few newer homes scattered throughout this area. Grandview Terrace, Dufferin Terrace, Hemlock Street, Lombard Street, Arbutus Street, Powers Road, Sequoia Place, Centre Avenue, Boundary Road, Chaparral Place and Strathcona terrace all make up this neighbourhood. Many of these homes have beautiful views of the Thompson valley.

Further west along Lombard street leads to another small neighbourhood where there are a few single family homes, a number of town house units and half duplex units. Hudson Bay Trail has a number of higher end town houses that overlook the Thompson river. Mission Hill is a condo building located in this area and consists of one and two bedroom units with beautiful river views. Hudsons Bay Pointe is the newest townhouse complex located on Hudsons Bay Trail and Fernie Drive. There are many options for buyers in this area. Schools are not walking distance for children in this area.

Further west, Guerin Creek Estates is a newer high end development in South Kamloops just off of Summit Drive. Many of the homes have high end finishing and appliances. The homes in this community are executive sized homes with larger square footages and often three car garages. Current homes in Guerin Creek are two level designs with a basement, rancher style with a basement or basement entry homes. The lot sizes do vary but are executive sized lots. Many of these homes have amazing views of the Thompson River Valley looking north.

The newest area of development in the South Kamloops area is Hudson’s Ridge which is located west of Summit Drive, across from Guerin Creek Estates.

One other area that is west of the downtown core is the Dalgleish area. Sitting above Grandview Terrace, Dalgleish Drive has a variety of multi-family residences. Apartment buildings and townhouses often are home to students attending Thompson Rivers University. Many of the homes off of Dalgleish have great views of the Thompson Valley. There is often a lot of variety of units to choose from in this area. Often investors buy properties in this area as it does tend to rent for the most due to the close proximity to TRU. Not every development in this area allows rentals so it is important if you are an investor to ensure there are not any rental restrictions.

Condominium units can be found on a number of streets in the Downtown core. Victoria Landing is the highest building in the Downtown area. This complex is located on Victoria at 6th Avenue. Lorne Street has a number of condo buildings. Buildings on Lorne have covered parking in secure garages. Park Place is a complex on Lorne Street with numerous amenities such as indoor pool, sauna, gym, community room and boat moorage. All of the units located on Lorne Street are steps to the Rivers Trail and a short walk to Riverside Park.

To view condo unit for sale in the South Kamloops and Downtown area click here.

There are a few townhouse developments as well in the South Kamloops area. Townhouses can be found on Nicola Street at 6th Avenue, Nicola at 1st Avenue, on 1st Avenue, in Park Place on Lorne Street at 9th, St Paul Street at 1st Avenue, Hudsons Bay Trail and in the Dalgleish area near the university. These units all range in age and size.

To view townhomes for sale in the South Kamloops Downtown area click here.

There are also a number of 55+ buildings in the South Kamloops area. Click here to review these properties.

South Kamloops covers a large area of the city and has many different neighbourhoods. There are always a number of homes for sale in South Kamloops. For buyers on a budget to buyers looking for high end properties, there is a home for each and every budget.

Click here to view properties for sale in South Kamloops.

Shopping & Services

South Kamloops is home to numerous amenities. Save-On Foods, London Drugs, Visions Electronics, Coast Capital Savings, CIBC, Scotia Bank, TD Canada Trust, HSBC, numerous insurance agencies and professional offices are all close by. Lansdowne Village houses a number of the larger retailers in South Kamloops.

There are also a variety of small and medium retailers, numerous restaurants, and fast food establishments. Victoria Street is the main street where many clothing boutiques, bridal stores and specialty stores are found. South Kamloops is home to the Royal Inland Hospital, the only hospital servicing the Kamloops (and Thompson) region.

Downtown Kamloops covers the region between Columbia Street down to the Thompson River and from just west of 1st Avenue to 7th Avenue. The majority of professional offices and downtown businesses are found on Lansdowne Street, Victoria Street, Seymour Street and St. Paul Street. Battle Street, Nicola Street and Columbia Street do have some businesses but these streets are not as heavily populated by businesses as the previously mentioned streets.

The Kamloops Farmers Market is located in the Downtown core. The Farmers Market takes place between April and October. There is a farmers market on both Wednesdays (400 Block of Victoria Street) and Saturdays (200 Block of St Paul Street).

Shopping areas in Sahali, Southgate and Aberdeen are within a five to ten minute drive of South Kamloops. Many of the big box stores are located in these areas.

Schools

Students in South Kamloops attend L’ecole Lloyd George Elementary School (830 Pine Street), and South Kamloops Secondary School(821 Munro Street). South Kamloops Secondary School has a French immersion program for students. St. Anne’s Academy, a private school is located near the Hospital just off of Columbia Street and 3rd Avenue in South Kamloops and welcomes students from kindergarten to grade 12.

Thompson Rivers University is located in the Southgate/Sahali area. The campus is positioned at the intersection of Summit Drive and McGill Road. TRU is a fully accredited University and offers a variety of programs and courses to students in many different areas of study. South Kamloops boarders the Southgate area and TRU it is often a very popular area for University students to live due to the close proximity to the University.

Recreation

Riverside Park and Interior Savings Centre are both located on Lorne Street in South Kamloops. Riverside park is a large park on the river with a water park, a sandy beach area, large open green space for summer activities, washroom facilities and picnic areas. Riverside park also has a stage where numerous performances and events occur during the warmer months.

Sandman Centre is home to the Kamloops Blazers Junior Hockey team. Many performances and concerts also occur at this large facility.

South Kamloops Secondary is also the home to the Sagebrush Theatre, a 706 seat proscenium theatre is located on 9th Avenue in South Kamloops (south of Columbia Street).

Western Canada Theatre is located on 9th Avenue at Lorne Street.

The Kamloops YMCA/YWCA is located on 4th Avenue and Battle Street in the Downtown core. The facility offers an indoor pool, sauna, hot tub, exercise facilities and many fitness classes.

Peterson Creek Park runs through most of Sahali and part of South Kamloops. This is a 423 hectare park that is a natural creek corridor. There are over 30 kilometers of trails in the park and many sites to enjoy including panoramic valley views and Bridal Veil Falls. There are numerous access points and the park is equipped with picnic tables and grassy areas to enjoy.

Tournament Capital Centre is located in the Sahali/Southgate area which is only a five to 10 minute drive from any South Kamloops neighbourhood. TCC has many different facilities all in one building such as gymnastics, swimming, indoor track, fitness facility, courts and much more. There are also a number of sports fields that surround the facility.

There are tons of playgrounds, parks and playing fields in the South Kamloops area. Click here to see Kamloops parks on a map.

Transportation

South Kamloops is serviced by BC Transit buses on a frequent and regular schedule. Click here to view the BC Transit website. The main bus loop is located on Lansdowne Street at 7th Avenue.

Access to Trans Canada Highway #1 is very easy from any area of South Kamloops with usually approximately a 5 minute drive to the onramp.

The Kamloops Airport is located north west 15 to 20 minutes from South Kamloops.

To view current listings for the South Kamloops/Downtown area click here.

To read more about other neighbourhoods click the link below:

Aberdeen Barnhartvale Batchelor Heights

Brocklehurst Campbell Creek Dallas

Deloro/South Thompson Valley Cherry Creek Dufferin/Southgate

Heffley Knutsford Juniper Heights

North Kamloops Paul Lake/Pinantan Lake Pineview

Pritchard Rayleigh Sahali

South Kamloops/Downtown Sun Rivers Sun Peaks/Whitecroft

Valleyview/Rose Hill Westmount Westsyde

Surrounding Communities

Barriere Mclure/Vinsula Savona/Tobiano

Mortgage Rates Expected to Remain Steady Despite Recent Spree of Hikes, CBC News

January 20, 2016 Kirsten Mason National Real Estate News

This article appeared on the CBC News website on January 20th, 2016 and was written by Sheena Goodyear.

Despite a topsy-turvy mortgage landscape that has seen rates go up unexpectedly, don’t expect your monthly payments to skyrocket any time soon, economists say.

“I think that mortgage rates will remain relatively stable,” CIBC deputy chief economist Benamin Tal told CBC News. “I just don’t see anything that will send them up.”

Mortgage rates have been creeping up over the last few months— a fact that may have many homeowners scratching their heads.

Usually a turbulent economy, like the one Canada is currently facing, with oil below $30 US a barrel and the loonie lower than 70 cents US, would be accompanied by a drop in mortgage costs, especially fixed rates.

That’s because fixed mortgages are tied directly to government bond yields, which are at an all-time low as risk-wary investors steer clear of the stock market.

Still, all the major banks have announced mortgage-rate increases since December.

CIBC increased its three-year fixed rate by 10 basis points to 2.59 per cent. RBC upped its special offer on a five-year fixed mortgage by one-tenth of a point to 3.04 per cent. TD Bank increased its one-year and four-year closed special rates by one-tenth of a point each. Scotiabank increased its variable rate by 10 basis points.

Government regulations and global forces

Robert McLister, a mortgage planner at intelliMortgage and the founder of RateSpy.com, told Canadian Press the hikes stem partly from new government regulations designed to reduce risk in the country’s housing industry, including plans to force the banks to have more money set aside in case the mortgage loans on their books go bad.

“It’s going to be more expensive for banks to hold mortgages,” McLister said. “They have to put aside more capital and when you put aside more capital, then you can’t do other things with it. And that costs you money, so that gets baked into pricing.”

But it’s more complicated than that, said Tal. In order to understand Canadian mortgage rates, you have to look at the global picture.

“Given the uncertainty and given the fact that risk profiles are rising globally, I think that the Canadian banks have to pay more to fund themselves,” he said.

Still, there’s no reason for homeowners and would-be homeowners to fret over modest hikes to already low rates, John Andrew, a real-estate professor from Queen’s University in Kingston, Ont., told CBC News.

“I think the rise we’ve seen in mortgage rates isn’t really very significant,” he said.

Bank of Canada holds key rate steady

Meanwhile, the prime rate — the interest rate commercial banks charge their most credit-worthy customers — is unlikely to change substantially any time soon after the Bank of Canada announced Wednesday it would leave its benchmark overnight rate unchanged at 0.5 per cent.

Changes to the overnight rate — the interest rate at which big banks borrow and lend — have traditionally had major implications for Canadian mortgages, as the big commercial banks would follow in lockstep with changes to their prime rate.

But even if the Bank of Canada had announced a rate change on Wednesday, the impact on mortgages likely would have been minimal. The central bank’s power to influence the housing market has dwindled in recent years, economists say.

When the Bank of Canada slashed the overnight rate by 0.25 per cent a year ago, commercial banks only cut their prime rate by 0.15 per cent.

“That’s maybe something the [Bank of Canada] should look at, because the ability of the bank to really impact market rates and activity is very limited,” Tal said.

Rates will go up eventually

Despite the steady forecast for the next year or two, Andrew advises new homeowners or those looking to renew their mortgages to choose a fixed, or locked in, rate with regular monthly payments that aren’t tied to the prime.

“I’m a little gun-shy about variable-rate mortgages, just because you’re in a period where mortgage rates are so low and there isn’t a widespread expectation in the market that they’re going to rise dramatically,” he said.

“I’m a big one for certainty, and I think the big uncertainty is rising rates. We know they’re going to rise — we just don’t know when and we don’t know by how much. So do you want to get into a variable situation where you’ve got no control over that?”

Marcus Tzaferis, a mortgage broker with MorCan Direct, disagrees. There are good deals on variable-rate mortgages right now, he said, especially from non-bank lenders that won’t penalize you if decide to lock in.

“I’ve been doing this now for about 15 years — nothing happens all that quickly. This tool of inciting some fear that rates are going to go up — it almost works in the banks’ favour. The banks make more money on the fixed rate,” he said. “I don’t think we’re going to see rates increase any time soon.”

Tal said when it comes to fixed versus variable, it all comes down to the individual. There’s no one-size-fits-all for mortgages. But, he warned, the pendulum will eventually swing back, so it’s best to plan ahead.

“If you’re buying right now, it’s very, very likely that five years from now, when you renew, rates will be notably higher,” he said. “If you cannot finance your mortgage at rates that are one to two per cent higher, then you have to think twice about the type of house that you want to buy.”

Link

B.C. Could Lead Canadian Economic Growth in Low-loonie Era, Economists Say: CBC News

January 16, 2016 Kirsten Mason B.C. Real Estate News

This article appeared on CBC.ca on January 15th, 2016.

Service industry and resource exporters stand to gain from low Canadian dollar

Many of B.C.’s industries will benefit from the low Canadian dollar, making it likely the province will lead the country in economic growth this year, say economists.

The Canadian dollar dropped again Friday to 68 cents US, fuelling concern that the growing downward momentum means tough times ahead for the country.

But some experts say B.C.’s diverse economy means enough sectors will benefit from the low loonie to boost the province’s outlook overall.

“One thing that really is emerging from the current environment is the fact that B.C. is doing relatively well precisely because we are more diversified,” said Ken Peacock, vice-president and chief economist at the Business Council of British Columbia.

“B.C. is doing very, very well, probably will lead the country this year in terms of economic growth.”

Here is a rundown of how economists think some of B.C.’s industries will fare in a low-loonie environment.
Service: tourism and film

Service industries like tourism and film are already feeling the benefits of a low Canadian dollar.

“Certainly in the services exports such as tourism, TV [and] film, the reaction is much more immediate,” said Helmut Pastrick, chief economist for Central 1 Credit Union.

Ski resorts like Whistler Blackcomb recorded 90,000 more visits for the fiscal year ending Jan. 3, 2016 than for the same time period the year before according to the company.

Those numbers are just the beginning of good times for B.C.’s $4 billion tourism industry says Tourism Vancouver.

“Now that [B.C.] is even greater value for those spending US dollars, we’re certainly expecting those numbers to go up in 2016,” said president and CEO, Ty Speer.
Real estate

Those hoping the low dollar will mean relief for B.C.’s high housing prices are in for disappointment, according to Peacock.

“The Americans will be looking to British Columbia, property prices, and say you know what, there’s a 30 per cent discount for us.”

Pastrick agrees, but adds that the impact of additional foreign interest may not make much of an impact.

“Most of the demand, the housing sales that we see are from local residents. So in that sense the market will not be impacted too much.”
Resources

Pastrick says the forestry industry in B.C. faces a mixed future. Demand for lumber will continue to climb, partially due to housing construction.

“U.S. housing starts will be higher this year and again in 2017,” he said adding that the outlook for softwood lumber exporters depends on agreement re-negotiations with the United States.

People in resources industries that rely on global demand may need to wait to see benefits, according to Pastrick.

But while coal and metal industries wait for big buyers like China to bounce back, Canada is still doing well.

“Canada is running a trade surplus for the last six to seven months,” said Pastrick “That too means the Canadian economy is somewhat stronger than is generally assumed.”

Link

Batchelor Heights, Kamloops, B.C. Real Estate

January 15, 2016 Kirsten Mason Kamloops Neighbourhoods

Neighbourhood: Batchelor Heights, Kamloops, B.C. Real Estate. Batchelor Heights is ten minutes north of Kamloops city centre. Batchelor sits above the North Kamloops and Westmount perched on a hill and has beautiful panoramic views of the city and river valley. Batchelor Heights is set among the Lac Du Bois Grassland Park, which is a popular area for dirt biking, ATV riding, hiking, fishing and numerous other outdoor activities. There is a mix of new and mature areas with old and new single family homes, half duplex units and relatively new townhouses to choose from.

Properties & Real Estate

The lower area of Batchelor Heights has more mature trees and landscaping. You will find a mix of older homes and newer modern homes in this area. Linthorpe Road, Southview Terrace, Griffin Terrace, Maple Place, Hook Drive, Hornby Avenue, Hillcrest Drive make up the southern portion of lower Batchelor, while Pennask Terrace, Leighton Place, North River Drive, Norview Place and Road, Bearcroft Court and Norfolk Court make up the northern portion of lower Batchelor.

In upper Batchelor, Grasslands Boulevard, Grouse Court and Red Tail Drive make up the southern portion of this area where there are a number of single family homes ranging in size from smaller homes under 2,000 square feet to large executive homes with views. There are also a number of townhouse units on Grasslands Boulevard to chose from. On the northern side of the upper portion of Batchelor Heights, Grasslands Boulevard, Stagecoach Drive, Saddleback Drive, Cantle Drive and Court, Quail Drive and Court, Quails Roost Court and Raven Drive and Crescent make up this newer region.

Buyers can chose from townhouses, half duplex units and single family homes in this area. There are not very many building lots in the area any longer as most of the major construction has been completed.

There are a number of townhouse units on Grasslands Boulevard, Quail Drive and Stagecoach Drive. Half duplex units can be found on Raven Crescent. Basement entry, rancher, bungalow and two level homes ranging in size from 1,500 square feet to homes over 4,000+ square feet comprise the northern portion of Batchelor Heights.

You will find homes that were built in the 2010 era throughout Batchelor Heights. There are a couple townhouse developments that were built in the 2020’s. The upper region of Batchelor Heights is where you will find the newest detached single family homes. Doubletree Crescent, Latigo Drive, Lariat Drive, Wagon Place and the northern part of Saddleback Drive are all the newest streets in Batchelor Heights.

To view single family homes for sale in Batchelor Heights click here.

To view townhouse and half duplex strata units in Batchelor Heights click here.

Schools

Batchelor Heights does not have any schools presently. Many students attend Westmount Elementary School, Westsyde Secondary School, Brocklehurst High School or NorKam Senior Secondary School.

There are also two private schools near by in North Kamloops (approximately five to ten minutes from Batchelor Heigths. OLPH (235 Poplar Street) which is serves kindergarten to grade 7 and Kamloops Christian School (750 Cottonwood Avenue) which serves kindergarten to grade 12.

Thompson Rivers University is located about fifteen minutes from Batchelor Heights.

Shopping & Services

There is not any retail or commercial activities in Batchelor Heights. The closest shopping is in North Kamloops which is a five minute drive from Batchelor.

There are a number of retail stores and financial institutions close to Batchelor Heights. Northills Mall which is home to Shoppers Drug Mart, Independent Grocers, CIBC and TD Canada Trust are all within a five minute drive. Safeway, Save-On Foods, Canadian Tire and many other smaller retail stores are also within two to five minutes of Batchelor Heights.

Many residents of this area don’t need to go to Sahali, Southgate or Dufferin for shopping. Saying that, the big box stores are within a fifteen minute drive of Batchelor Heights neighbourhoods.

There are also a number of professional offices and health services in the North Kamloops area that are within minutes of Batchelor Heights.

Recreation

There is a small playground area in Batchelor Heights for the neighbourhood children to enjoy. It is fully fenced and centrally located.

The Lac Du Bois Grassland Park is located on the north east boarder of Batchelor Heights. The park is described to have “grassland vistas, spectacular cliffs and canyons, cool, dry forests, secret ponds and small lakes”. The park is 15,000 hectares in size and offers a variety of hiking trails and scenery to enjoy. There is a designated area south of the park for ATV and dirt bike riding trails. This park is located north, west of Batchelor Heights.

A popular sports area called McArthur Island Park is located between North Kamloops and Brocklehurst on the north bank of the Thompson river. McArthur Island is 51 hectares of playing fields, a mini golf course, indoor sports centre, bicycle paths, baseball diamonds, soccer fields, park space, mini golf, disc golf, tennis courts, outdoor fitness equipment, skateboard park, lawn bowling, a boat launch, a lagoon, wild flora and fauna reserve, marmots, a BMX track and walking trails. McArthur Island is a great place for sports enthusiasts to catch a game or tourists to take in the scenery. McArthur Island is one of the highlights of the north shore and is a short five to ten minute drive from Batchelor Heights.

There is a YM/YWCA located at 150 Wood Street. It has a large work out facility, hosts a number of classes and has childcare facilities.

Other larger sports facilities such as the Tournament Capital Centre are locate within a fifteen minute drive of Batchelor Heights.