About Linda Klein

The number of homes sold through the MLS® System of the Kamloops and District Real Estate Association recorded an 11^th consecutive double-digit increase in December 2016.

According to the Association’s statistics, home sales totaled 144 units in December 2016, up 28.6 per cent from December 2015. This was the best month of December since 2009.

On an annual basis home sales numbered 3,181 in 2016. This stood 23.6 per cent above 2015 and marked the first year to crack the 3,000 mark since 2007.

“Housing demand in the region remains historically strong,”  “2016 was the best year for the local housing market in almost a decade. Better still, the handoff into 2017 looks even stronger, with higher sales compared to one year ago, and quite a bit less inventory. This should further support prices this year.”

The average price of homes sold in December 2016 was a record $367,591, rising 18.4 per cent from a year earlier. The annual average sale price was $345,528, up 5.9 per cent from 2015.

The dollar value of all home sales in December 2016 was $52.9 million, up 52.3 per cent on a year-over-year basis and a record for the month. This was also the first time volumes had surpassed $50 million in December.

There were 138 new listings on the Association’s MLS® System in December 2016, down 21.1 per cent on a year-over-year basis. This was the lowest December level in 15 years.

Active residential listings on the Association’s MLS® System numbered 1,031 units at the end of December, down 23.1 per cent from a year earlier.

There were 7.2 months of inventory at the end of December 2016, down from 12 months a year earlier and below the long-run average for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.

Sales of all property types numbered 162 units in December, an increase of 33.9 per cent from December 2015. The total value of all properties sold was $58.3 million, up 58.6 per cent from December 2015.

Comparing August 2016 to August 2015

Comparative Statistics for Kamloops (Residential Only)

*The above information is from sources deemed reliable but it should not be relied upon without independent verification.

Say goodbye to summer by adding a few cozy fall touches around your house.

Time to put away the sea shells and nautical themes and bring out the golds, oranges and rusts.

There are so many fun ways to welcome fall into your home and add a splash of color to your front door. It doesn’t take much to make a statement, have fun with the new season.

Enjoy the crisp days, warm sweaters , raking leaves and putting the gardens to bed.

we are only 3 hours away but so much more affordable, Kamloops a great place to call home.

Open the door to your new home. Exclusive High Country Estates. 1 acre private lot backing onto green space, 20×40 inground pool, 3 decks, hot tub, gardens & magnificent views of city, river & mountains. This spacious rancher with daylight walk out basement & park like backyard offers space & privacy yet is only 10 mins to town. Main floor with updated kitchen, granite counter tops, walk in pantry & breakfast nook. Dining area open to spacious living room with built in cabinets, picture windows & 28′ deck with new glass railings. 3 bedrooms including master with w/i closet & sliders to deck with morning sun. Laundry & 2 piece bath with access to garage. Walk out basement features large family room, wet bar, fireplace with heatilator, office or music room with double insulated glass doors for soundproofing, bright bedroom, bathroom with sauna, hobby room, workshop & storage. Lower level deck has a built in hot tub. 26×22 garage, large driveway.

CUT WATER COSTS

Up to half of water consumed in your home is used in the bathroom. Here are some easy ways to save hundreds of dollars – and gallons of water from going down the drain.

Slow the flow. New toilets are equipped with water-saving, low-volume flushers. Have an older toilet? Save by filling a quart-sized plastic bottle with water and placing in tank. Flow should be reduced by 40%.

Cool the water. If your water heater is set higher than 120degrees F., water is hotter than you need for showers or hand washing. For every 10 degrees you go down, you save up to 5%.Check for leaks. A leaky toilet can waste 250 gallons of water in a month. Test a leak by dropping some food coloring in the tank without flushing. If the color shows up in the bowl, you have a leak. Courtesy of Cliff Brauner Pillar to Post home inspections

When homeowners receive provincial Property Assessment notices, some will smile and have a bit more spring in their step, feeling the assessed value is accurate or perhaps even overly positive. Others will wilt and lament a modest gain or even a decrease in the assessed value over the previous year or period. Reactions will of course vary factoring in the potential increase in property taxes that tends to come along with stronger assessments.  The reality, setting aside taxation concerns, is that neither parties’ emotions should be tied to the ‘value’ printed on these notices. 

A provincial property assessment is an approximate value based on the (broadly) estimated market value as of the previous years. There is a lag time between the estimation of valuation and delivery of the envelope. It also fails to involve a formal site visit or viewing of the inside of the home to consider either significant upgrades or significant deterioration.

To put this in perspective, few lenders will work with a detailed official appraisal report that is even 90 days old.  Most prefer a report completed with 30 days, as markets can move significantly month over month.

For these reasons, among others, a provincial property assessment should not be relied upon as a totally concrete indicator of value for the purposes of either purchase, sale, or financing.

Always enlist a licensed professional, or perhaps even two or three, in order to get a timely and detailed appraisal of current market value. This will provide a much more accurate reflection of current market values reflecting recent comparable sales, value for zoning, renovations and/or other unique features to the property.  An appraiser is an educated, licensed, and heavily regulated third party offering an unbiased valuation of the property in question.

Think of your provincial property assessment as something akin to a weather forecast spanning far larger and more diverse areas than the unique ecosystem that is your neighborhood, street, and specific property.

The forecast may call for rain in your city, yet you might have a ray of sunshine radiating upon your street specifically.

DLC Weekly Rate Minder courtesy of Starr Webb Dominion Lending