Kamloops Real Estate Open House Weekend: March 28 & 29, 2009, Brocklehurst, Pineview Valley & Westsyde

Open houses this weekend will be in Brocklehurst, Pineview Valley and Westsyde.

Saturday, March 28th: 1872 Lodgepole Drive, Pineview Valley: 11:30am-1:00pm

Lodgepole Home For Sale, Pineview, Kamloops

This 3+1 bedroom, one den and 3 bathroom home is a great family home. It has over 2,000 square feet of living space, a two car garage and a private, fenced back yard. $364,900

Saturday, March 28th: 755 Garnet Road, Westsyde: 2:00pm-3:00pm755 Garnet Road, Westsyde, Kamloops

2+2 bedroom, 2 bathroom single family home in Westsyde. Updated throughout including new kitchen. Sits on a large lot that could be subdivided. $339,900

Sunday, March 29th: 1725 Clifford Ave, Brocklehurst: 1:00pm-2:30pm

Clifford Ave Open House For Sale

RIVERFRONT fixer-upper mini estate with indoor pool. Over 5,000 square feet,  4 bedrooms plus den.  Bachelor suite with separate entrance.  Needs TLC but definitely worth renovating. $445,000

To view more listings in Kamloops click here.

Featured Property: 995 Stagecoach Drive, Batchelor Heights, Kamloops

Stagecoach Home For Sale Batchelor Heights KamloopsStagecoach Kitchen Batchelor Heights KamloopsThis two year old basement entry river view home offers quality finishings throughout. There are five bedrooms, one den and three bathrooms. The main floor has 1,500 square feet of living space. Enjoy an open floor plan with a large living room and dining room with vaulted ceilings.  Three bedrooms on the main floor plus a den and a two bedroom legal suite Stagecoach Living Room Batchelor Heights Kamloopsmake this home the perfect family home with a mortgage helper.

The large master bedroom has a spa-like ensuite featuring a two person soaker tub. The main floor is finished with crown mouldings, hardwood floors, gourmet kitchen, granite surround fireplace and luxury carpets. There are two separate laundry areas, separate hydro Stagecoach Home Basement Suite Kamloopsmeters, 50 gal hot water tank, two car garage and security system. This home is located on a large corner lot in Batchelor Heights. The extended back patio is comprised of interlocking brick. The yard is tiered to maximize the use of the space. This home won’t last long, it is listed $27,000 below appraised value at $449,000.

Click here to view other homes for sale in Kamloops.

Buyers Could Use Real Estate Pre-Sale Advice

Real Estate Floor Plan Pre-sale HomeI found this article on the Vancouver Sun online. I thought it was important to post because there are a number of pre-sale units in Kamloops for sale, specifically in Sun Rivers and the Dunes Golf Course in Westsyde (Westlinks). Buyers have to know what they are signing when committing to these pre-sale contracts. It’s important to get legal advice or involve your Realtor to help negotiate the pre-sale contract. Just because a developer is asking ‘X’ amount for a pre-sale home, doesn’t mean that the price and terms are not negotiable. After all, real estate purchases are negotiable. Buyers have to get educated and informed when it comes to pre-sales. It is very easy to get caught up with the beautiful, colorful displays and convincing sales people. I have included the article below written by Derrick Penner.

When British Columbia’s real estate cycle was on the upswing, many condominium buyers reaped the rewards of buying so-called pre-sale condominiums which, in many cases, were worth more on closing than the agreed purchase price. Now the cycle is on the downside and a growing number of buyers are finding themselves compelled to honour contracts they signed to complete purchases of units that have fallen in value. They have few options to get out of deals even if they don’t qualify for a higher mortgage.

Pre-sales can be “a win-win transaction” for both buyers and sellers, in the words of an advice pamphlet produced and distributed by the Urban Development Institute and the B.C. Real Estate Association. They allow buyers to pick homes they want to live in, and give developers certainty about their ability to sell and finance projects they are taking the risk to build.

If buyers try to walk away after signing a deal, they can be sued by developers, and risk losing not only the deposits they paid to secure units, but the difference between the current, lower market price, and the price they agreed to pay the developer in their contracts. “What the biggest risk [in pre-sales] is,” said Kenneth Pazder, a Vancouver real estate lawyer, “[that] what you essentially are doing is, you’re playing a futures market in real estate.” Buyers put down a deposit, usually about 15 per cent, and trust that the price they agree to pay reflects the home’s value on completion of its construction when they have to take ownership. “How sophisticated is the average [buyer] to do that?” Pazder asked.

At least six different developers are suing some 74 different buyers for not completing the purchase of homes they’d signed contracts to buy. Pazder is in discussions with a number of buyers who want to counter-sue developers. Developers are required to file disclosure statements that outline their projects’ details and pass them on to prospective buyers. Pazder’s advice for buyers considering pre-sale purchases is to seek legal advice to understand the contracts they are signing and the disclosure statements they are agreeing to accept.

The B.C. Real Estate Development and Marketing Act (REDMA) allows developers to sell real estate before it is built, and sets out the conditions developers have to meet in doing so. One of the conditions is that buyers have a seven-day right-of-recision period — the ability to cancel the contract — if they change their minds. Pazder advises clients to use that period to get a legal opinion on the contract, and to bail out if that opinion is negative. It will cost a buyer $300 or $400 for the service, Pazder said, but he reckons it is worth the fee to understand the potential risks a buyer is assuming in signing the contract.

“Sometimes people feel that they know the price, [the purchase] is going to close in two years, and that’s good enough,” Pazder said. “Then the problem is when, like now, things go sideways.” Pazder said one of the most common questions he gets these days is how buyers can get out of their contracts.

Often, Pazder said, the buyers’ problem is that they can no longer secure a mortgage to complete the purchase at the price agreed to in the contract. Their bank or lender can lend them funds based only on their unit’s current, and lower, market price.

Pazder said contracts often contain language that allow a developer to seek damages greater than the deposit, if the amount the developer has to cut the price of a unit to sell it in the current market exceeds the value of that deposit when a buyer walks away from the contract. Pazder added that in the current market, pre-sale buyers will want to try to limit that clause: “You want [the clause] to say, ‘If I don’t complete the purchase, this deposit is forfeited as liquidated damages as the sole remedy of the developer.’ ”

He added that buyers will also want to look at firmer language around the completion dates for construction of the units and clauses allowing the developer to make changes in finishings or unit layouts that also give them an out. The Urban Development Institute and B.C. Real Estate Association pamphlet includes a checklist of items that are required to be in a disclosure statement.

Savona & Tobiano, Kamloops, B.C. Real Estate

For the latest Tobiano, Savona and Kamloops real estate for sale click here.

Savona Acreage Properties Kamloops Real EstateSavona Kamloops ViewNeighbourhood: Savona & Tobiano, Kamloops, B.C. Real Estate. Savona and Tobiano are located south west of the city of Kamloops at the western end of Kamloops Lake. From Kamloops it’s approximately a 15 to 35 minute drive depending on the destination. This is rural living with few shopping areas and amenities.

Properties & Real Estate: Savona

Many of the properties that are located in Savona sit on large parcels of land often over 20 acres in size. Parts of Savona are classified as ALR land, or Agricultural Land Reserve. This means that the land is specifically defined as land designated for agriculture. This was done because of the region’s dwindling agricultural land.

Savona Property For Sale Acreage KamloopsThere are also smaller properties on much smaller lots, some of these properties can be found on Savona Access Road, Watson Drive, Buie Street and Ernest Street. There are often a few mobiles or modular homes for sale in the Savona area.

Tobiano is also located in this region.

Thompson River Estates area has numerous waterfront acreages that sit on the Thompson River. There are also riverfront properties on Savona Access Road which are smaller often 1/4 acre lots. This area is also known as Walhachin.

To view homes for sale in Savona click here.

Properties & Real Estate: Tobiano

Tobiano Golf Course Clubhouse Kamloops, BCTobiano is a developing community in the Kamloops region and is home to a beautiful golf course. Previously six mile Ranch, Tobiano is set on a 1,000 acres overlooking Kamloops lake and surrounded by 17,000 acres of wilderness area. Tobiano is still a developing community and some of the amenities are in the process of being built or in the planning stages.

Tobiano Golf Course Residential Unit KamloopsThere are numerous homes in Tobiano bordering the beautiful golf course. Summers Landing is a single family home and townhouse development that sits along seven of the golf course fairways. Lake Star at Tobiano is a townhouse development perched on the bluffs above Kamloops Lake. There are 52 homes in total in this town house development. Bluff, golf and resort lots are available for building your dream home at Tobiano. They range in size from 6,000 to 20,000 square feet. Golf bay and equestrian lots at Tobiano. These lots are some of Tobiano’s largest single family home lots.

Tobiano Property for Sale Kamloops, BCTobiano is rural living at it’s best. If you need something away from the city but not too far it’s a beautiful place to call home. The most recent addition to the Tobiano community is the marina where boats can be moored and visitors can rent many different types of equipment and boats.

To view homes for sale in Tobiano click here

Recreation

Tobiano Golf Course KamloopsSavona has a variety of outdoor activities to enjoy year round. Swimming, hiking, dirt biking, ATV riding, snowmobiling and boating. Savona is home to Steelhead Provincial Park which is located on the south west shore of Kamloops Lake. Visitors to this park can enjoy camping, picnicking, fishing, paddling, swimming and hiking.

Tobiano has an 18 hole golf course, numerous hiking and back country biking trails, cross country skiing and snow shoeing are a few of the recreational activities available in and around Tobiano.

Due to Tobiano’s close proximity to Kamloops many city amenities are within a 20 minute drive.

Schools

Savona has it’s own elementary school called Savona Elementary School.  Secondary students take a school bus to the city of Kamloops and attend school there. Visit School District 73’s website fore more information about schools.

Transportation

There is not any public transportation in these areas.

To view home and property listings in Tobiano and Savona 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

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