About Linda Klein

 CANADA DAY July 01, 2014

More than 30,000 people come down to the Canada Day Festivities at Riverside Park. This annual event is hosted by the Kamloops Arts Council, City of Kamloops, and the Kamloops Multicultural Society. For a full day schedule, see below:

7:00am – 10:30am – Brock Lions Club Pancake Breakfast
by Tennis Courts

9:00am – 5:00pm – The Kamloops Arts Council’s Art in the Park & Performing Stage
Riverside Park East End and ISC Plaza

Art in the Park is a premiere artist show and sale held outdoors annually on July 1st. Art in the Park retains its high artistic integrity through a juried selection process. More than 90 artists will have handcrafted and original work on display this year, from painting and pottery to fashion and jewellery. The KAC’s Performing Arts Stage will feature entertainment for all ages.

10:30 am – 6:00pm – Kamloops Multicultural Society Folkfest
Ethnic Food and Cultural Displays

11:00am – Noon – Canada Day Open Ceremonies
Rotary Bandshell

6:00pm – 10:30pm – Evening Entertainment
Rotary Bandshell

10:30pm – Fireworks

The government has done a lot to try to drive down the housing bubble that’s said to be happening in certain parts of Canada. They introduced new mortgage rules in an attempt to deter new home buyers this year.

The constant growth in house prices has increased the wealth of home owners because home owners’ equity has risen. The investment in property has proved to be quite lucrative for home owners, and this has proved to be quite attractive to new home buyers.

It is shown that in  the last 2 years, 61% of home buyers have made their purchases with down payments less than 20%.

The answer to this question is most likely the low interest rates available now, and that have been available in the recent past. The savings that come with the low mortgage rates available outweigh the cost of mortgage insurance. Low interest rates don’t last forever, and many Canadians are doing what they can to qualify for a low interest mortgages now with the goal of avoiding the risk of seeing the mortgage market enter a high-interest rate cycle.

What does this mean for the real estate market?

Low-interest rates driving home sales are a no-brainer, but what do the recent mortgage trends mean for the real estate market given the new mortgage rules? There is no concrete answer to this question yet. The Financial Post has has been reporting that the new rules have indeed slowed the housing market, but many critics disagree. Preliminary data has shown house prices have not fluctuated, but it is said that sales have slowed.

One thing is for certain, real estate is a cyclical industry. There are periods periods of high activity and periods of low activity. Market’s change from a “seller’s” market to a “buyer’s” market. Low interest rates will always help drive the market, but the new mortgage rules do present home buyers with serious blockage. It is unclear yet to see how things will pan out, but it will be interesting to see how things will develop in Canada’s ever-changing mortgage and real estate market.
By Cristobal Ravazzano

Welcome home. The perfect “Townhouse”. This 1 bedroom and den with fabulous views is within walking distance to downtown, hospital and TRU. Complex and landscaping are very well cared for. This bright open home offers a large entrance. Kitchen with eating bar and pot rack. Dining area with French doors opening to covered deck. Enjoy the stunning river, City and park views. Living room with corner gas fireplace as well as double doors to den/office/formal dining room or guest room. Master bedroom is spacious with lots of closet space and cheater ensuite. Large laundry room has built in storage. This unit is close to mail boxes and entrance to secure underground parking. 2 large stalls. 2 small pets allowed, rentals at capacity.

A group of Kamloops doctors say Kamloops’ air quality can’t bear another polluter like the proposed Ajax copper and gold mine, but a fact sheet published to back their arguments appears to misrepresent some key data.

In a new pamphlet, Kamloops Physicians for a Healthy Environment points out the city has levels of PM2.5 — fine particulate matter that can cross from lungs to bloodstream when inhaled — above the provincial target of eight micrograms per cubic metre.

PM2.5 has been linked to heart disease and various forms of cancer. The World Health Organization designates it as a class-one carcinogen, the same class given to tobacco smoking.

However, Kamloops’ PM2.5 levels are below Canadian, U.S. and international thresholds.

According to a report from the B.C. Lung Association released last week, Kamloops levels were at 8.9 micrograms in 2013.

To read full report from Andrea Klassen, click link above

KAMLOOPS – The clock is ticking on Stuart Wood Elementary School after the school district agreed unanimously to consolidate Beattie School of Arts students into one building and shutdown the downtown school by September 2016.

The district leases the heritage building from the city. It will be turned back over to the city when the school closes September 2016.

JENNIFER STAHN /InfoTel Multimedia

Well maintained 2 storey 5 bedroom home in desirable Juniper has something for everyone, 0.33 acres backing onto green space, fully fenced flat backyard with garden shed, 4 bedrooms on 1 level, master with 4 piece ensuite and walk in closet, main floor has laundry off spacious kitchen, eating area with double doors to sun deck, brazilian cherry hardwood in living room and dining room, basement has rec room and den with built in entertainment center, bedroom, 4 piece bath and storage. 2 car garage and detached 24×26 detached shop with heat and air plus room for RV, boat, all your toys, 1 block to one of the best elementary schools, all this plus 2 year old hot tub, 4 year old high eff furnace, 6 month old roof and gutters, 50 gal hot water tank, 200 amp electrical, u/g irrigation, 4 bathrooms. This great home is not to be missed. All measurements approximate.

If you enjoy golfing but need a little tune up, give Cody Jackson a call at Sun Rivers 250 571 7888 and book a lesson and don’t forget to tell him his Mom sent you .

May 2014

Kamloops Residential Sales by Sub-Area – Monthly – May 2014

1. Brocklehurst              23
2. Westsyde                    20
3. Aberdeen                    19
4. Sahali                            18
5. Batchelor Heights     16
6. South Kamloops        14
7. North Kamloops        14
8. Juniper Heights          13

SOURCE: Kamloops and District Real Estate Association

May 2014

Analysis of Kamloops MLS Activity Report for the Month Ending May 2014

Kamloops and District
Median Residential Price:
(includes all areas, not just Kamloops, does not include
condominiums or mobiles)
$332,000

Kamloops only
Median Residential Price:
(does not include condominiums or mobiles)
$349,900

Most Residential Sales By Price Category

$280,000-$319,900   35 sales

$320,000-$359,900   47 sales

for a total of 254 residential sales in May
SOURCE: Kamloops and District Real Estate Association