Kamloops Real Estate Blog

Shuswap Lake, North & South Shuswap, Chase, Blind Bay, Sorrento, Salmon Arm and Sicamous, B.C. Real Estate & Community Information

April 26, 2009 Kirsten Mason Surrounding Communities

Shuswap Lake is a very large lake network with numerous arms reaching a number of cities in the Interior. Shuswap Lake is named after the Shuswap Indians an Interior Salish tribe. This lake is the largest lake in the area with hundreds of kilometers of shoreline with hidden coves and beaches. The surface area of Shuswap lake is 309.596 square kilometers, the mean depth is 61.5 meters and maximum depth is 161.5 meters. Little Shuswap extends off of the north western arm of the Shuswap and has a surface area of 18.131 square kilometers, a mean depth of 14.3 meters and maximum depth of 59.4 meters.

Shuswap Lake is shaped like an addled H and is made up of four large arms: the Shuswap Lake main arm (north west), Salmon Arm (south west), Anstey Arm (south east) and Seymour Arm (north east). This lake is the product of glacial scouring that also rounded the surrounding Shuswap Highlands. All of the four arms converge at Cinnemousiun Narrows which is north east of Sicamous and home to the Cinnemousiun Narrows Provincial Park. The cities and communitites that surround the shoreline of this lake include Salmon Arm, Sicamous, Chase, Seymour Arm, Balmoral, St. Ives, Blind Bay, Carlin, Magna Bay, Scotch Creek, Eagle Bay, Notch Hill, Skimikin, Anglemont, Celista, Lee Creek, Sorrento, Sunnybrae, Canoe, Tappen, White Lake and Wild Rose Bay.

Real estate in and around the Shuswap lake area is very popular for both year round and seasonal residents. There are a lot of beautiful building lots, apartments, townhomes, single family homes and estates that surround this large lake system. Since this area is so large there are often a lot of properties for buyers to choose from. Shuswap Lake has many summer cabins that sit on the desirable waterfront but not all areas are serviced by sewer and hydro.

Below are short descriptions of communities that surround the Shuswap. Don’t hesitate to contact me with any questions.

Sicamous, located south east of Kamloops is known as the house boat capital of Canada and has the largest fleet of houseboats in the world. During the summer months houseboating is a very popular activity for vacationers. This beautiful area is set against the Monashee Mountains and the shores of Mara and Shuswap Lakes. This small town is a great place to explore any season of the year. The Sicamous area has over the past ten years become a popular destination for investors purchasing summer homes both on the water in the form of private houseboats or one of the many newer townhomes or apartments that sit on the waterfront.

Salmon Arm is located south east of Kamloops, is known as the heart of the Shuswap, has a population of roughly 17,000 and is Shuswap’s centre of commerce and services. It is the Okanagan Valley’s northern gateway to the Shuswap. A great city for outdoors enthusiasts. Salmon Arm is located mid way between Vancouver and Calgary making it a popular meeting spot for many vacationers. Experience everything from water related sports, 18-hole golf courses, to cross-country ski trails, back country sleigh rides and carnivals, to snowmobiling, mountain biking and hiking. A great place for the whole family.

This community has many stores, amenities and schools. There are a number of residential areas of Salmon Arm. For further information about this area click here.

The Chase area, located 45 minutes east of Kamloops, is the western gateway to the Shuswap region. Chase is located on the south western shores of little Shuswap Lake, set in the mountains at the eastern end of the South Thompson River valley. This small town boasts many amenities, beautiful beaches, a golf course and gorgeous parks. Little Shuswap and near by lakes are perfect for fishing, wake boarding, swimming and paddling, mountain bikeing, hiking and cross country trails.

Chase also extends to Adams lake, another area very popular for outdoor enthusiasts. This beautiful lake is located 55 minutes north east of Kamloops or 30 minutes north of Chase. Adams lake is a very large sprawling lake where many visitors enjoy cycling, windsurfing, water skiing, wake boarding, swimming, canoeing and fishing. Many fish for kokanee and rainbow trout in this lake. There are a number of properties on this popular lake often found on Agate Bay Road, Rawson Road and Holding Road. There is a large provincial park on Adams lake with basic campground facilities. For further information about Chase click here.

The North Shuswap includes the areas Anglemont, Celista, Lee Creek, Magna Bay, Scotch Creek, Seymour Arm and St. Ives. This area is only a few minutes north of Highway #1 and has over 100 kilometers of unspoiled shoreline. There are many options for accommodations, restaurants and tourism in this area. For outdoors enthusiasts, there are dozens of activities to suit everyone’s needs and desires. For further information about this area click here.

The South Shuswap has a variety of recreational choices and numerous homes to choose from. Balmoral, Blind Bay, Carlin, Eagle Bay, Notch Hill, Skimikin, Sorrento, Sunnybrae, Tappen, White Lake and Wild Rose Bay are all conveniently located along Highway #1 and line the Shuswap shores facing Copper Island. Much like all the areas of the Shuswap region, this area is no different, there are a couple dozen outdoor activities to enjoy any season of the year. For further information about the South Shuswap click here.

Every community on the Shuswap has many real estate options for every buyer. There are numerous activities to enjoy and new scenery to explore. To find out more about real estate in the following areas click on the link to do a home search: Chase, Salmon Arm, Sicamous, North Shuswap and South Shuswap.

Kamloops Home Inspections: Bathroom Inspections, Safety & Going Green

April 19, 2009 Kirsten Mason Home Inspection Information

The bathroom is one of the most used and abused rooms in a typical home. Bathrooms have plumbing, electrical and mechanical devices, along with cabinets and floors that need to be inspected. Inspecting the bathroom is a critical part of any general home inspection. A Global Property Inspections professional will check the toilet, the sink and the tub/shower. Although the condition and proper operation of these fixtures are key parts of a functioning bathroom, there are other important things to take note of.

Streaks down the paint where the water has run after condensing on the walls, peeling wallpaper or wet drywall may be signs of moisture damage in the bathroom. The most common causes of moisture damage in a bathroom are not having an exhaust fan in the room, having too small a fan or not using the fan.

Bathroom Safety

The combination of water, medications and electrical appliances make safety precautions in and around the bathroom essential. The Home Safety Council advises families to follow the following tips for bathroom safety:

Prevent falls in the bathroom by: installing a grab bar by the bathtub and shower; putting non-slip strips in your tub or shower; having a non-skid bath mat; and using nightlights in hallways and bathrooms.

Protect young children by: not leaving children unsupervised in the bathroom; being aware of the things in your bathroom that are poisonous; keeping all medications and cleaning products in their original containers with child safety caps; and locking away all medications, cosmetics and cleaning products.

Prevent electrical shock injuries by: keeping hair dryers, curling irons and electric razors away from water; always unplugging appliances after using them; and making sure all electrical outlets in the bathroom have a Ground Fault Circuit Interrupter (GFCI). This tool protects you from a dangerous shock when water and electricity come together.

Going Green In The Bathroom

About 60 percent of a home’s water consumption takes place in the bathroom. Take into consideration the following items in your bathroom to find out ways you can make an environmental difference.

• The toilet accounts for 26.7 percent of water consumption in the home. Replacing your toilet with a more efficient one could save thousands of gallons of water annually.

• Showers waste a large amount of water; multi-head showers can spew 80 gallons per minute.

• Harmful bathroom cleaner ingredients can leave behind traces we end up inhaling when they dissolve in shower steam. Clean the air in your bathroom with green cleaning products. Choose dye-free products free of synthetic fragrances and choose products in packaging that is recyclable in your area.

• You can purchase recycled paper for your household uses, too. A wide variety of paper towels, napkins, toilet paper and tissues can be found to fit your “green” needs. Even eco-friendly bath towels and washcloths can be an easy alternative.

Make a big impact in the environment and in your home by creating a green bathroom.

Todd Hrycenko, Global Property Inspections

[email protected] 250-371-2787

House Sales In Canada Rise 7% In March Month Over Month

April 15, 2009 Kirsten Mason National Real Estate News

The Globe and Mail came out with this article today detailing a 7% rise in home sales for March which is the second straight month of improving sales. It is an interesting article but what you have to remember is that spring and summer are typically the busiest times of the year for home sales. In Kamloops, we have seen the real estate market pick up over the last month and that is to be expected as we head into spring and summer. The full article is included below.

The Canadian housing market appears to be stabilizing, with sales activity up in March for the second consecutive month as lower prices drew in more buyers, the Canadian Real Estate Association said Wednesday. Actual transactions were down 13.7 per cent, year over year. This was the smallest decline in six months, the association said. “Housing markets are starting to show signs of buyer interest because of lower prices and interest rates,” Regina real estate agent Dale Ripplinger, CREA president, said in releasing the March results. However, economists were reluctant to characterize the increased sales activity as the beginning of a recovery in the real estate market.

The March statistics were “certainly encouraging,” Toronto-Dominion Bank economist Millan Mulraine said. “Nevertheless, with the Canadian economy continuing to be in a very intense recession, and labour market conditions continuing to worsen at an alarming pace, we expect over-all housing market activity to remain soft in the coming months,” Mr. Mulraine said in a research note. “That’s why we are cautious about interpreting this as the beginning of a long-term trend,” he added in an interview.

A seasonally adjusted total of 31,135 existing homes changed hands in March. “This is an increase of 7 per cent from the previous month, and builds on the 10.3-per-cent activity gain in February,” CREA said in a news release. “The number of transactions in March stands 18 per cent above levels reported in January, 2009, when activity sank to the lowest level in a decade.”

The national average resale price was $288,641 in March, down 7.7 per cent from a year earlier – again, the smallest year-over-year decline in six months, the association said. The largest monthly increases in activity were in British Columbia, at 13.6 per cent, and Ontario, at 10.5 per cent, the association said.

CREA’s chief economist, Gregory Klump, said the sales reflected a “stronger-than-normal seasonal bounce” in a number of markets. “The story is that price reductions are working as intended. They are stabilizing the market and they are drawing buyers …who are taking advantage of improved affordability,” Mr. Klump said, adding that anecdotal evidence indicates that a lot of the buyers are first-time market entrants. “Looking back to economic recessions in the early 1980s and 1990s, national resale housing activity bottomed out before the job market or economy did,” Mr. Klump said. “It will take time for ample supplies of new and existing homes to be drawn down, but demand appears to be stabilizing.”

Bank of Montreal economist Robert Kavcic noted that, despite the recent improvement, sales activity is still down more than 30 per cent from the peak seen in May, 2007. “Still, the improvement in recent months is an encouraging sign that the Canadian housing market has crossed the halfway point for this downturn,” Mr. Kavcic said. “Affordability is the highest in about four years, which should help fuel a rebound in sales once the job market stabilizes,” he said in a research note.

Recent measures in the new federal budget, including an increase in the maximum withdrawal allowed under the Home Buyers Plan and the First Time Buyer Tax Credit, will also lend support to new buyers, Mr. Kavcic said. “While a continued gradual decline in new listings—down 10.9 per cent year-over-year in seasonally adjusted terms—will ultimately help restore the market to balance, the ratio of new listings-to-sales remained slightly elevated at 2.2 per cent in March. “Over-all price declines are still somewhat exaggerated by the changing sales mix (sharper declines in the most expensive cities and higher price ranges), and as such, weighted-average prices are down a more modest 4.7 per cent year-over-year. Still, a widespread 14 of 25 cities are reporting lower prices versus last year,” Mr. Kavcic wrote.

“Western Canada continues to face the most severe price pressure, with average home values still down more than 10 per cent year-over-year in each of Vancouver, Victoria, Calgary and Edmonton. Hard-hit manufacturing centres in Ontario are also posting double-digit declines, while Regina and St. John continue to lead the pack, up 16 per cent year-over-year and 13 per cent year-over-year respectively.” Mr. Kavcic said it remains a buyers’ market. “Further price declines and low mortgage rates will ultimately help trigger a recovery, but a reversal in the wave of job losses is one major pre-requisite still outstanding,” he said.

Link

Kamloops Mortgage Information: Advice For The First-Time Home Buyer

April 14, 2009 Kirsten Mason Mortgage Information

Introducing Brenda Colman. Brenda is a mortgage specialist with Invis here in Kamloops. She will share her knowledge and expertise on a monthly basis. If you have any questions for Brenda, please post them here or give her a call.

Interest rates touching historic lows and more attractive house prices in parts of the country have added up to better affordability for first-time home buyers. The federal government’s recent budget has added more reasons for Canadians who aren’t yet homeowners to consider entering the Kamloops real estate market this year. Under the new federal budget, first-time home buyers can qualify for a $750 tax credit, to help with closing costs, such as appraisal or legal fees. Also, home buyers can now withdraw up to $25,000 from their RRSP under the Home Buyers Plan for a down payment – up from the previous limit of $20,000. Couples can access an extra $10,000 from their RRSPs under the plan.

For those who are feeling secure about their income and want to take advantage of low rates and a more affordable market, the new federal budget provisions could make an enormous difference in terms of the properties they can afford, We’re now seeing more first-time buyers seriously considering making the jump into the Kamloops market this spring.

Here are some tips to help first-time home buyers:

Start the process early.
A mortgage consultant can help you with getting the right documentation in place, such as proof of income and down payment. A consultant will also check your credit history to avoid any unpleasant surprises and ensure you can meet the lender’s requirements. If you are thinking about a home purchase, consulting a mortgage specialist is critical to navigating the mortgage process.

Know your price range.
If you want to buy a home within the next few months, getting a mortgage pre-approval will help you determine the right price range of homes to shop for. Many lenders will also guarantee a rate for up to 120 days when pre-approving potential borrowers for a mortgage.

Don’t rush your decision.
A buyer’s market means that you now may have the leeway to negotiate more with sellers on the price as well as other terms of the transaction such as the possession date and extras to be included in the purchase.

Accelerate your payments – early and often.
A mortgage is the largest debt that most consumers will ever take on, and paying it down faster can mean large savings on interest costs over the long term. Get in the habit of making lump sum payments whenever possible, and consider making bi-weekly payments as a way to decrease the life of the loan.

Know your goals.
Choose a mortgage that accommodates the present state of your finances but also fits your long-term goals. Similarly, don’t just buy because it’s a buyer’s market – choose a home that fits your lifestyle as well as your family’s needs in the years ahead.

Brenda Colman, Mortgage Consultant, Invis Kamloops

P. 250-318-8118 E. [email protected] W. www.BrendaColman.ca

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