Featured Property: 8970 Grizzly Crescent, Campbell Creek, Kamloops, B.C. $409,900

Campbell Creek & Deloro

8970 Grizzly Cres Campbell Creek Kamloops BC For SaleBrand new home in a newer subdivision that sits on a large private lot. This home has 3 bedrooms, and 3 bathrooms which includes a full 4 piece ensuite with separate shower and soaker tub. The master suite is very large with double doors and a huge walk in closet. The dedicated laundry room is on the 2nd floor with the bedrooms. The main floor features high vaulted ceilings, with a living room, family room, kitchen, dining room, nook and storage/utility room. There is a lot of natural light in this home. The dining room could easily be converted to a office or den. The family room has a beautiful stone fireplace with wood mantle. There is a full unfinished basement with a separate back entrance and rough in for a full bathroom in the basement. There is potential for two bedrooms and a large rec room or an inlaw suite. The home has tile and high grade laminate floors on the main floor, hardiplank exterior with stone accents, a covered front porch and a covered patio in the back of the home. The yard is partially fenced and does have some mature shrubs bordering the lot. Rough in for central A/C or heat pump and central vacuum. New home warranty in effect. Price does not include HST.

To view all homes for sale in Kamloops click here.

Home Sales Rise Outside Lower Mainland, BCREA

B.C. Real Estate News

Vancouver, BC – February 15, 2012. The British Columbia Real Estate Association (BCREA) reports that the dollar volume of homes sold through Multiple Listing Service® (MLS®) in BC dipped 7.6 per cent to $2.1 billion in January compared to the same month last year. A total of 3,976 homes traded hands on the MLS® over the same period, down 3.9 per cent. The average MLS® residential price was 3.8 per cent lower at $527,219 compared to January 2011.

MLS Residential Sales BC January February 2012

Click to enlarge

“Increased market activity outside the Lower Mainland in January was offset by fewer sales in Vancouver and the Fraser Valley,” said Cameron Muir, BCREA Chief Economist. MLS® Residential sales rose 7 per cent to 1,620 units outside the Lower Mainland, while declining 10 per cent to 2,356 units in Vancouver and the Fraser Valley.

“While provincial sales activity was down in January from year ago levels, consumer demand has posted modest improvement since last fall, driven by low mortgage interest rates and gradually improving economic conditions,” added Muir.

Full article click here.

Kamloops Home Inspections: How to Know if Your Septic System Is Failing

Home Inspection Information

Parker Bennett Home Inspector KamloopsMany homes in Kamloops are serviced by septic systems. It is sometimes hard to know if your septic system is functioning properly. These are some of the basic symptoms, which will give you the heads up that you have a serious septic issue:

• Sewage backup in your drains or toilets (usually in the lower levels of your home ). This is often a black liquid with a disagreeable odor.

• Slow flushing of your toilets. Many of the drains in your house will drain much slower than usual, despite the use of plungers

• Surface flow of wastewater. Sometimes you will notice liquid seeping along the surface of the ground near your septic system. It may have a smelly odor.

• The presence of coliform bacteria in your drinking water well. This indicates that liquid from the system may be flowing into the well through the ground or over the surface. Water testing can help to identify this issue, however depending on your well type this can be a giveaway.

• A consistent unpleasant odor around your home. Often, a failing septic system causes a buildup of disagreeable odors around the house and you may notice the smell periodically when your outside, doing yard work.

Parker Bennett, Rest Assured Home Inspections
P. 250-372-7375 E. [email protected]

Canadian Banks Rethink Record Low Mortgage Rates

Mortgage Information, National Real Estate News

This article appeared on Reuters and was written by Cameron French on February 9, 2012.

Canada’s big banks, which entered a mini-price war on mortgages last month, are now raising their rates ahead of schedule, due to higher costs that make the cheap mortgages more expensive to fund.

Royal Bank of Canada (RY.TO) and Toronto-Dominion Bank (TD.TO), which had offered a record-low rate of 2.99 percent on a four-year mortgage, said on Wednesday they were cancelling the offer, well ahead of the original expiry date of February 29th.

TD’s lowest rate on a four-year mortgage is now 3.39 percent, it said.

Bank of Nova Scotia (BNS.TO) followed suit on Thursday, while a Canadian Imperial Bank of Commerce (CM.TO) spokesman said the bank would likely adjust rates on Friday.

The moves underscore how nervous the banks have become about narrow margins in their consumer lending portfolios. Bond yields have begun to inch higher from historically low levels in December. Banks typically issue bonds to fund their mortgage lending.

“Our long term funding costs have gone up considerably due to global economic concerns, and while we have held off in passing on these rate changes to our clients, it is now necessary for us to increase this mortgage rate,” said RBC spokesman Matt Gierasimczuk.

Analysts say the banks will struggle to increase earnings this year due to low rates, which narrow the margins on loans.

While they can partially compensate for that by raising lending volumes, the Bank of Canada and the federal Finance Department have been warning Canadians to lower their already-high debt levels.

Bank of Montreal (BMO.TO) kicked off the price war when it announced a two-week offer of a record-low 2.99 percent 5-year mortgage in mid-January.

The move to cut rates drew criticism as it came just days after bank CEOs had warned of the possibility of a housing bubble in certain regions across the country.

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