Author: Kirsten Mason

Home Sales Increase Last Year

B.C. Real Estate News
MLS Residential Sales BC Year End 2011
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Vancouver, BC – January 13, 2012. The British Columbia Real Estate Association (BCREA) reports that the dollar volume of homes sold through Multiple Listing Service® (MLS®) in BC climbed 14.3 per cent to $43.1 billion in 2011. A total of 76,817 homes were sold in BC in 2011, up 2.9 per cent from 2010. The average annual MLS® residential price climbed 11.1 per cent to $561,026 over the same period.

“Low mortgage interest rates and gradually improving economic conditions contributed to a moderate increase in consumer demand last year,” said Cameron Muir, BCREA Chief Economist. “BC home sales came in about on par with their 15-year average, but fell well below their ten-year average of over 88,000 units.”

Vancouver, the Fraser Valley and the North experienced the largest percentage increase in unit sales last year, while consumer demand edged lower in Victoria and on Vancouver Island.

BC residential unit sales in December dipped 1.7 per cent to 4,186 units, while the average MLS® residential price was 2.8 per cent lower than in December 2010.

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Kamloops Construction Hit $162.5 Million in 2011

Kamloops Real Estate News

This article was written by Jeremy Deutsch of Kamloops This Week on January 9th, 2012.

Despite fears of a double-dip recession and lingering issues with the harmonized sales tax, 2011 turned out to be a pretty good year for construction in the Tournament Capital.

The city handed out $162.5-million in building permits in 2011, which ended up to $40 million more than projected.

David Trawin, the city’s director of development and engineering services, said the year was saved by a strong showing in commercial and industrial development.

The city issued $57-million in commercial/industrial permits in 2011, including another $2.8 million in December, besting the previous year by $7 million.

Conversely, residential construction dropped significantly in 2011.

The city handed out $96-million in permits last year, down from $129 million in 2010.

As for 2012, Trawin is offering a conservative estimate — predicting the city will hit between $130 million and $150 million in permit value.

“I’m considering next year to be an average year for Kamloops,” he said.

However, there are some big projects expected to land on the department’s desk, including permits for a Telus data centre, an Interior Health Authority development in North Kamloops and a new Marriott hotel in Aberdeen, at the site of the former Home Hardware store at Pacific Way and Rogers Way.

Trawin also expects the commercial side of construction to remain strong in 2012.

“Those are the types of building permits that bring jobs into the community,” he said, adding the residential portion will eventually follow and rebound.

Though all the numbers might not mean much to the average Kamloopsian, Trawin noted the engineering department uses the statistics to budget and plan for the year ahead.

A full report on construction activity at city hall in 2011 is expected to be in front of council early this year.

The city has only topped $200 million in permits once — in 2008.

In that year, the city doled out $207 million worth of permits, which was a record.

In a 12-month period between 2009 and 2010, the city handed out $222.5-million in permits for 883 dwelling units.

That proved to be a record.

Mobile-Home Fires Spark Safety Reminders, Kamloops This Week

Real Estate Information

This article was written by Jeremy Deutsch of Kamloops This Week on January 9th, 2012.

Kamloops Real Estate House Fire SafetyFor some, a mobile home is an affordable alternative to buying a house or an apartment.

But, when a fire breaks out, they can be particularly deadly — especially older mobile units.

“They are a concern to us,” Kamloops Fire Rescue Chief Neill Moroz told KTW.

He said the problems tend to arise in older units that have a wood-panelling finish on the interior, because a fire can spread faster than in new models built with drywall.

Mobile homes in general also tend to be smaller and more confined, which can make it harder to escape, while putting occupants closer to flammable material.

Older units have become such a concern in recent weeks that the B.C. Coroners Service and Office of the Fire Commission have taken the unusual step of issuing safety warnings to owners and operators of mobile-home parks in the province.

The two provincial organizations noted studies that show fires in mobile homes tend to be more devastating than in other forms of housing.

The warnings come after seven people were killed in a five-day span in five separate fires around B.C. at the end of 2011.

One of the fires in Sicamous took the life of a father and his two young children.

Mobile-home fires can also be a challenge for firefighters due to  the speed in which the units burn.

“When a fire reaches a certain point, it’s extremely dangerous for our firefighters to enter,” Moroz said.

There are steps mobile-home owners can take to reduce the fire risk.

Moroz said every unit should have working smoke detectors and occupants should have a way of getting out from every room.

The B.C. Coroners Service has also put together several recommendations, including:

• Have furnaces inspected at least once a year and clean the blower and filters often to prevent overheating.

• Keep the furnace area clear of clutter.

• Ensure electrical wiring and appliances are in good working order.

• Watch for signs of wiring trouble, including flickering lights for no apparent reason; warm, inoperable, strange-smelling or discoloured switch plates or outlets; sparking or electrical arcing; or a blown fuse or tripped circuit breaker.

• Never run extension cords under rugs.

• Avoid the use of space heaters if at all possible. If it is essential to use one, use a CSA-approved model and ensure it is well away from drapes, bedding, clothing and other flammable materials.

• Consideration should be given to replacing wood-based combustible wall coverings with gypsum board products, which slow the progression of fire.

Featured Property: 963 13th Street, Brocklehurst, Kamloops, B.C. $289,000

Brocklehurst

963 13th Street Brocklehurst Kamloops Real EstateGreat Brock bungalow with 2 spacious bedrooms on the main floor and a large two bedroom inlaw suite downstairs. The main floor has a large kitchen, spacious mud room/laundry room and living room. Recent updates include HW tank (6 months), Roof (last 5 years), paint and flooring. There are two parking areas to accommodate all residents and RV parking as well. Fully fenced private yard. Steps from the elementary school, secondary school and transportation. Very close to McArthur Island recreation and shopping. Minimum 24 hours notice for all showings. Tenanted up and down, upstairs tenants pay $1050/month and basement $925/month including utilities.

To view all homes for sale in Kamloops click here.

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