Kamloops Home For Sale: 1881 Fleetwood Avenue, Brocklehurst, B.C. $324,900

Brocklehurst

Brocklehurst Home for Sale PropertyGreat Brock home with a large 20×40 detached shop. The home features hardwood flooring on the main floor with a nice oak kitchen. There is a bright, large dining room and living room as well as two large bedrooms and a 4 piece bathroom. The basement features a spacious rec room, bedroom, huge laundry room with storage room, 3 piece bathroom and separate entrance to the basement. There are many updates: furnace, HW tank, windows and central a/c all done in 2004. Energuide rating 74. The detached workshop is wired and there is a single attached garage. Drive through access to the back yard and lots of parking for all your toys/RV. Good sized yard with large garde area and a 18×16 covered deck overlooking the yard. Don’t miss out on this great Brock home. 1/2 a black to elementary and middle school, bus stop only steps away and shopping a short walk/drive away. Day before notice for showings appreciated.

To view all homes for sale in Kamloops click here.

Kamloops Home For Sale: 821 Dever Drive, Westsyde, B.C. $264,000

Westsyde

Westsyde Property Home for SaleGreat Westsyde home with a one bedroom inlaw suite that could be a two bedroom. Located on a corner lot, there is room for a detached shop on this lot with easy access to the back yard. The main floor has two bedrooms and has the use of one bedroom in the basement and extra storage. The basement suite has one large bedroom, there is a temporary wall in the living room area that makes a den/computer room. This wall could come down to make a larger living room. There has been several updates over the past few years including heat pump, furnace, central vac, 210 amp electrical service, updated flooring in the suite and some on the main floor. The main floor has parkay hardwood throughout and just needs a little TLC. Each suite has separate laundry. The basement rents for $700 per month, the tenant is great and would like to stay. The main floor rents for $1000 and will be vacant September 1st. Please allow 24 hours minimum for showings.

To view all homes for sale in Kamloops click here.

Home Sales Decline in Vancouver, but Surge in Rest of BC, BCREA

B.C. Real Estate News
MLS Residential Sales BC July 2012

Click to enlarge

Vancouver, BC – August 14, 2012. The British Columbia Real Estate Association (BCREA) reports that the dollar volume of homes sold through the Multiple Listing Service® (MLS®) in BC declined 12.9 per cent to $3.1 billion in July compared to the same month last year. A total of 6,482 MLS® residential unit sales were recorded over the same period, down 0.8 per cent from July 2011. The average MLS® residential price was $474,954, 12.2 per cent lower than a year ago.

“While some potential homebuyers in Vancouver are taking a breather over the summer months, stronger consumer demand continues across the rest of the province,” said Cameron Muir, BCREA Chief Economist. MLS® residential unit sales outside of Vancouver were up 11 per cent in July over a year ago. In contrast, home sales through the Real Estate Board of Greater Vancouver were down 18 per cent over the same period.

Year-to-date, BC residential sales dollar volume declined 16.5 per cent to $23.5 billion, compared to the same period last year. Residential unit sales dipped 7.9 per cent to 44,794 units, while the average MLS® residential price was 9.4 per cent lower at $525,183.

CHMC Presents Revised Forecast For Canada’s Housing Market 2012-2013

National Real Estate News

This article appeared on DailyMarkets.com on August 19th, 2012 and was written by

Canada Mortgage and Housing Corp presented its latest forecast for Canada Housing market on Tuesday 11th August. The report focuses on market trend and condition for the rest of 2012 and 2013. The CHMC’s outlook for the third quarter of this year proves that the market is cooling all across the country and the slowdown will continue throughout 2012 and 2013.

The forecast is largely based on statistics and data collected and compiled by Canada Real Estate Association CREA.

Mortgage Expert, Marcus Arkan, CEO of Syndicate mortgages has said that CHMC’s report confirms what analysts and economists have been saying ever since new mortgage rules were announced. He said, “Since the very day new mortgage rules were announced, the tabloids are filled with speculations and expectations. Most of experts including CHMC itself were warning about a slowdown. Now with the latest stats and figures before us, CMHC has finally confirmed our worst fears.”

According to CHMC, the slowdown will not create a major economic threat but send the market in a more balanced situation for a year or so. The report indicates that the market has shown sustained activity levels for the first two quarters of this year. Due to this sustained growth, there will be a definite slowdown in price growth.

Mr. Arkan highlighted how the latest forecast is slightly different than what CHMC has predicted in June. “The point forecast regarding housing starts in the latest report is higher than what has been predicted in June and the range is slightly wider. This may be because the data and stats from July have provided a far more clear idea of where the market is heading now.”

For 2012, CHMC’s numbers predict that the range of housing starts will remain 96,800 to 217,000, with a point forecast of 207,200 units. For the next year, starts are expected to be in the range of 73,000 to 207,400 units. Similarly, existing home sales will also remain within a moderate range of 442,300 to 485,200 units in 2012, with a point forecast of 466,600 units this year. For 2013, these sales are expected to increase up to 487,600 units.

One thing that Mr. Arkan pointed out as the most interesting part of the CHMC’s latest report is the prediction regarding prices for property sales. The report suggests that the slowdown will not lead to price decline. However, the rate of price growth will slow down to some extent.

According to CHMC’s report from last month, the point forecast for average price was $372,700 for 2012 and $383,600 for 2013. Now according to the latest forecast, the average price shall remain lower at $368,000 for 2012 and $377,300 for 2013.

To view CMHC’s market forecasts, reports and analysis click here.

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