Kirsten Mason, Author at Kamloops Real Estate Blog

Lower & Upper Sahali, Kamloops, B.C. Real Estate

January 26, 2009 Kirsten Mason Kamloops Neighbourhoods

Neighbourhood: Lower & Upper Sahali, Kamloops, B.C. Real Estate. The area described as Sahali is on the south shore of the Thompson river. It is bordered by South Kamloops and the Downtown district (to the south), Southgate and Dufferin to the west and Aberdeen to the south west. Lower Sahali is the portion of Sahali that falls below the #1 highway and Upper Sahali is above the #1 with the Highway 5A being the dividing line between Sahali and Aberdeen. Click here to see the map.

Properties & Real Estate

Lower Sahali is a very popular residential area with decent sized lots and beautiful views of the valley below. It is within minutes of downtown, schools, including TRU and the hospital. Many of the homes in this area are older with the exception of some areas. There are also a number of multi-family residential units within Lower Sahali such as townhouse complexes and apartment units. The Sahali area always has a variety of properties for your choosing if you are looking for a home.

Upper Sahali has much fewer businesses and is mainly residential. There are a number of different types of residential units in this area anything from apartments to townhouses to single family homes. There is a mix of newer and older homes throughout the Upper Sahali region.

In the Coach Hills and Albert McGowan Park area are a number of the homes are newer than the surrounding areas where the homes are often defined as “old type”. Homes in this area range from 1990’s to early 2000’s.

In the Sedona Pines area the homes range from late 1990’s to new with Mesa Estates on Azure Place housing the newest construction.

The lots in Upper Sahali are also a good size and often have beautiful views. There are some specific regions where homes are located on steep slopes leaving little yard. Retaining walls are often found in the Sahali region as it covers a large part of the south slope of the valley.

Home prices in the Sahali area tend to be more expensive than other residential areas of Kamloops. Being such a desirable place to live, home buyers are willing to pay a premium to live in Sahali.

For up to date Kamloops real estate listings click here.

Schools

Beattie School of the Arts and Sa-Hali Secondary School are both located in Lower Sahali. St. Ann’s Academy, a private catholic school is on Columbia Street, also located in Lower Sahali. Lower Sahali is a great family neighbourhood close to numerous amenities.

There are a number of elementary schools in Upper Sahali including McGowan Park Elementary, the french immersion elementary school South Sahali Elementary and Summit Elementary.

Thompson Rivers University is located in Southgate. 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. Sahali is often a very popular area for University students to stay due to the close proximity to the University.

Shopping & Services

Lower Sahali houses a number of Kamloops grocery stores and shopping. Save-on-foods, Superstore, Safeway, Toys-R-Us, Bed Bath & Beyond, Winners and Homesense are a few of the major stores in the Sahali area. There are a number of restaurants and popular shopping destinations in this area as well.

There are a number of professional offices in the Sahali area. Sahali Centre Mall, Tudor Village and Sahali Professional Centre to name a few. You will find lawyers, doctors, mortgage specialists, banks, insurance brokers and much more in this area. Click here to view the map.

The uptown area of Kamloops which is defined within the borders of Sahali has everything that you could need on a day to day basis.

Recreation

At the top of Summit Drive, there is a very popular water park called Albert McGowan Park, which is a popular place for neighbourhood kids to cool off in the summer and toboggan in the winter.

Throughout Lower and Upper Sahali there are a number of parks and green spaces. The Sahali area has everything close at hand, shopping, entertainment, schools for all ages, and park land. This is why it is one of the most popular regions of Kamloops.

Peterson Creek Park runs through most of Sahali from top to bottom. 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 Southgate which is only a five to 10 minute drive from any Sahali 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.

Click here to see Kamloops parks on a map.

Transportation

Sahali is serviced by BC Transit buses on a frequent and regular schedule. Click here to view the BC Transit website. Highway #1 is easily accessible to Sahali as it runs through the middle of it splitting the area into upper and lower Sahali.

To view current listings for the Sahali 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

Open House Day – Sunday January 25th

January 25, 2009 Kirsten Mason Kamloops Open Houses

1. Open House 693 St. Paul Street, South Kamloops 11:30am-12:30: South Kamloops home on a corner lot. 2 bedrooms on the main and 1 partially finished bedroom & den down (needs flooring). Large Kitchen with newer flooring. Basement is partially finished.

2. Open House 1143 Surrey Ave, North Kamloops 1:00pm-2:00pm: Priced to sell! Nicely updated 3+2 bedroom, 2 bath home. Original hardwood floors on main. Newer kitchen w/laminate floors. 5 appliances included. New hot water tank. Bathrooms are being reno’d & will be finished.

3. Open House 1725 Clifford Ave, Brocklehurst 2:30pm-4:00pm: RIVERFRONT fixer-upper mini estate w/indoor pool. Over 5,000 sf, 4 bdrms plus den. Bachelor suite w/sep entrance. Needs TLC, Definitely worth renovating.

Financial Post Article: No Real Estate Crash Here?…

January 24, 2009 Kirsten Mason B.C. Real Estate News

I found this article recently by the Financial Post and thought it was worth posting…..

I’ve been hearing a lot of soothing sounds of late coming from the real estate and construction industries. “All is well,” they seem to say. “Don’t panic,” they encourage.

Two days ago, the Canadian Home Builders’ Association, a lobby group, insisted “there is absolutely no merit” in drawing a parallel between the U.S. real estate meltdown and the “cooling” market we are currently experiencing.

In mid-December, meanwhile, the Canadian Real Estate Association announced that national averages aren’t down as much as previously thought, and that it would be changing the methodology by which it calculates home prices, taking into greater account the rural homes that haven’t depreciated as quickly.

Taken at face value, these recent press releases might suggest that now was a great time to buy a house — a convenient conclusion for home builders and real estate agents.

But don’t you believe them. Maybe it’s appropriate that the CREA is changing its methodology to be more inclusive, but now seems to be an awfully convenient time to be doing so. And while it’s true that the Canadian housing boom was not propelled by the loose lending practices and low interest rates seen in the U.S., that doesn’t mean our boom was any less heated. In Canada, housing prices skyrocketed alongside a commodities boom that brought enormous wealth, in particular to western provinces.

So what do you suppose might happen when such a commodities boom crashes down to earth, as has happened over the last four months? If you’re still not convinced, take a look at the numbers below. They show six years of annual housing prices, leading up to their respective peaks, in the United States, as well as four Canadian cities. Also included are the most recent prices, to give you a sense of how far we’ve come down so far. Numbers are from the U.S. Census Bureau and the CREA — before they decided to revise their methodology.

United States
March 2002 – US$227,600
March 2003 – US$233,100 (2.4%)
March 2004 – US$262,900 (15.5%)
March 2005 – US$288,500 (26.8%)
March 2006 – US$305,300 (34.1%)
March 2007 – US$322,100 (41.5%)

Vancouver
May 2003 – $319,783
May 2004 – $370,545 (15.9%)
May 2005 – $418,757 (31%)
May 2006 – $518,176 (62%)
May 2007 – $591,722 (85%)
May 2008 – $624,639 (95.3%)
Most recent – $510,465

Calgary
July 2002 – $196,472
July 2003 – $209,932 (6.9%)
July 2004 – $220,978 (12.5%)
July 2005 – $245,704 (25.1%)
July 2006 – $357,831 (82.1%)
July 2007 – $436,739 (122.3%)
Most recent – $384,243

Toronto
April 2003 – $292,783
April 2004 – $321,131 (9.7%)
April 2005 – $342,032 (16.8%)
April 2006 – $366,683 (25.2%)
April 2007 – $379,025 (29.5%)
April 2008 – $398,687 (36.2%)
Most recent – $368,582

Montreal
July 2003 – $190,402
July 2004 – $218,313 (14.7%)
July 2005 – $222,972 (17.1%)
July 2006 – $253,420 (33.1%)
July 2007 – $263,018 (38.1%)
July 2008 – $277,703 (45.9%)
Most recent – $263,734

Understanding Market Conditions

January 23, 2009 Kirsten Mason Information For Buyers, Information For Sellers, Real Estate Information

Numerous factors affect the real estate market. There may be more buyers than sellers. There could be more sellers than buyers. Interest rates, employment statistics and pricing. The supply of resale and new homes are also considerations when selling a home. Generally speaking, there are three types of markets that affect the sale of your home. Understanding each of these can make a difference to your bottom line.

Buyers’ Market
Description: There is an abundance of homes on the market. Supply exceeds demand.
Characteristics: Many homes available for sale. Fewer buyers than homes. Homes remain on the market longer. Stable prices. Prices may also drop.
Impact: Less panic in buying. Buyers shop longer for homes. Upon negotiation, they often have more leverage.

Sellers’ Market
Description: There are more buyers than homes available.
Characteristics: Few homes on the market. Many buyers. Homes are sold quickly. Prices often rise.
Impact: Home prices are higher. Homes prices often rise. Buyers purchase quickly, and tend not to shop as much. Multiple offers are common. Sellers may prefer offers with no-conditions.

Balanced Market
Description: There are roughly the same amount of buyers, sellers and number of homes on the market. Supply equals demand.
Characteristics: Demand equals supply. Sellers accept reasonable offers. Homes sell within a reasonable time period. Prices generally remain stable.
Implications: There is less tension among buyers and sellers. There is a reasonable number of homes to choose from.

We have seen exponential growth in the Kamloops real estate market over the past five plus years. Often buyers would have little time to place an offer to purchase a property because of the sense of urgency in the market. Multiple offers was commonplace at that time. This fortunately for buyers has changed recently with the economic downturn. Buyers have time on their side and an abundance of homes to chose from. Today in the Kamloops real estate market we are seeing a strong buyers market. It will not be a buyers market forever, but it is expected that it will be this way for a while. Eventually, the market will cycle into a balanced market, which we have not seen in quite a number of years.

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