Ask A Real Estate Expert: What affect has the proposed mine had on Kamloops Real Estate?

The proposed AJAX is a hot topic in Kamloops. Everyone in town knows about it and everyone moving to town does too. On one side there are high paying jobs and an influx of tax dollars that could go towards better infrastructure and social programs for the city and on the other side there are legitimate environmental concerns. The project is currently going through a BC environmental review process.  I get asked a lot about what affect the proposed AJAX mine has had on the current real estate market. So I took a look at the sales of areas of Kamloops that would potentially be affected the most, areas closest to the proposed mine operation, Aberdeen and Pineview Valley. Looking at the sales figures for these areas over the last five years. You can see despite the increase in public awareness of the proposed mine there has been no noticeable decrease in sales for these areas. In terms of sale prices there is still a noticeable premium for houses in these areas.  For example, the average new home construction price of an Aberdeen home is about $40-$60k more than comparable new homes in Bachelor Heights and Juniper heights. What is also interesting is the Kamloops market is hot right now.  There are only limited number of lots available but there are no lots available in Aberdeen.  They are sold out. Why aren’t sales and land values decreasing with all this talk about the proposed mine? There can be a number of different reasons, but when it comes buying homes we have all heard location is really important. I have had clients tell me they would love to live in the country, have more land and enjoy the fresh air out there. But most don’t want to live far from their work, favourite grocery store and other amenities.

There seems to be a trend where desirable aspects of an area such as proximity to work, amenities and quality of schools can outweigh potential challenges associated with industrial and commercial realities. At least they have in the past.

Kamloops has been referred to as a working town in the interior of BC. Because it is constantly compared with more tourism friendly cities like Vernon and Kelowna which have geographically advantages that Kamloops just doesn’t have.

TRU rezoning – Planning for a Community – The Reach

In this episode I will talk about Thompson Rivers University(TRU) and their plans to develop a community on campus.TRU has drawn a lot students to live in Kamloops through their law school, English as Second Language, and Business programs. The university has been in the news recently with an application with regards to rezoning. That application was just approved by the City of Kamloops. The rezoning application is meant to make it easier for TRU and its Trust to market the land within the university to Developers both here in Kamloops and Abroad. The University Trust will take to market different parcels of land with 99 year lease agreements.  After the 99 years are up the land will go back to the trust.  The money generated by these sales will be used to fund University activities like research and student development.  The ultimate goal would be to have a community not unlike the ones that are currently at other post secondary institutions in the province, with both residential and commercial buildings. The first potential development which could break ground as early as next year might be a condo development located behind the old main building. Years from now, depending on market demand, there might be as many as 3500 residential units within the university. The master plan for the development can viewed here at this website.  If you are thinking of buying or selling please feel free to contact me when you are ready to make that move.

Thanks for watching and keep it real in real estate Kamloops!

If you are thinking of Buying or Selling in the Kamloops area.  Get informed.

Red Lake, Kamloops BC – Get to know one of Kamloops’ most affordable Acreage Areas

Red Lake is an area well known for some great fishing and hunting areas.  The area resides in a naturally wooded area that provides excellent cover from winds customary in some of the other areas of Kamloops. What is also great about Red Lake is it resides at a slightly higher elevation and as a result is usually a few degrees cooler than valley temperatures.  Aside from that there are some great hiking trails that lead to some really nice water holes where someone can enjoy the beautiful natural surroundings.

One of the main reasons why this area is so affordable is that there is a year round dirt road access, that is a blast when you are into driving 4X4.  To get a better idea of what the area is like feel free to take a look at this sample video of the road leading to the Red Lake area:

Great Kamloops Acreage Area (Sunny side of Pritchard)

Kamloops is known for it is dry climate and great location so it is not surprising that this area is in demand for people looking to live on an acreage.  One of the nicest areas in the Kamloops area is what I like to call the sunny side of pritchard.  This area includes the well known area that includes shuswap road as well as a less known area that is just minutes from the old pritchard convenient store.

Shuswap road has some of the most expensive acreages around Kamloops in large part all the acreages are generally with in about 20 minutes for Kamloops and because it is along the valley which gives them a long dry conditions most of the year.  These acreages are also along the river which allows some of them to have river docks.

The less known area of this area is just minutes from the Pritchard convenient store and about 30 minutes from Kamloops.  What is great about this area is there is plenty of water, hydo and great views and usable land. The road in is not paved but it is maintained year round and offers easy access.

Kamloops acreage for saleKamloops acreage for sale in pritchard

This area has some of the most beautiful views around Kamloops.  If you are looking to buy or sell in the Kamloops area then contact me for the latest information that is important to your particular needs. I can help you to make informed decisions while keeping all your information confidential. Andrew Thompson cell: 250 320 0154; office: 250 377 3030.  I am a Kamloops real estate agent, or Kamloops Realtor and would like to learn about your real estate needs.

Kamloops Rental Market: Highlighting the Northshore

From a rental property perspective Kamloops has been a favorite for a lot of investors from abroad because of it is good fundamentals: the city is considered a transportation hub with easy access to the lower mainland, it has a diverse economy with some good paying jobs and lots of lower paying jobs (these lower paying jobs help keep renters from entering the real estate market), a warm climate with not much rain, lots of outdoor attractions, and growing post secondary school.  If you are an investor you should consider the Northshore specifically when you are looking for a property to invest.

The Kamloops Northshore is an attractive area for lots of investors because of the relatively lower purchase prices of homes, and competitive rental rates in this area plus as a bonus there is a lot more room for parking from renters.

The Northshore has got some great fundamentals. From a community perspective, there are great walking trails, shopping centers, and shops/stores. Crime rates in Kamloops are pretty evenly spread over the city. From a house appreciation perspective the Northshore has performed just as well as any other area of Kamloops and there is further upside with the Northshore because of the attention it is gets from City Council to make general improvements. Already there has been improvements in the form of spirit squares, bus terminals, and sidewalks.  The Northshore is also got a decent amount of large lots that area zoned to allow a legal suite.  The Northshore has got some great schools with Norkam Secondary leading the way with its new trades program, and college advanced programs.  It is these conveniences and attractions that hopefully translates into above average tenant duration. Add it all up and it is not surprising that lots of investors are interested in this area of town.

My name is Andrew Thompson and I am a Kamloops Realtor(R) that helps buyers and sellers come out ahead investing in real estate in the Kamloops and area. If you have any questions about Kamloops and area homes, mls listings please feel free to contact me. If you are looking for Kamloops mls listings follow the link below:

Kamloops Real estate Blog Northshore pic
Schubert Drive

Ask an Expert. What should you be looking for when hiring a real estate agent?

Managing all of the details surrounding the sale of your home is one of the most important factors in getting the best results. One aspect of the managing process includes the advertising strategies a Realtor(R) implements for your property. Conveying the value of your home and targeting your ideal buyer is crucial. Your agent should take high quality pictures and advertise using a variety of mediums, such as websites, direct email, and other digital marketing mediums.

Another significant aspect of the managing process is concerned with dealing with people. In real estate, establishing good relationships with buyers is key as this enables an agent to investigate buyers’ needs to match them up with an appropriate property. This process leads to the best results which is a win/win situation where the seller sells their unique property to a buyer who appreciates the value.

Andrew Thompson a Kamloops real estate expert
Andrew Thompson is a real estate expert.
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