Royal LePage Access Real Estate Blog

BC NDP Budget Set to Kill BC Economy

You've most likely heard about the BC NDP Government's budget with it's sweeping taxation of real estate. The focus has been much on the "Speculation Tax" where owners of secondary and mostly vacant homes will be subject to an annual tax of .5% of property value for 2018 and then 2% for 2019 and beyond. It's been said that this is focused on people who pay "little or no tax in BC" and thought to be applicable mainly to Albertans but also anyone outside of BC. That part of the plan is true.

What is not so clear with many is the implementation of the tax.  According the the BC Government "The speculation tax will initially apply to the Metro Vancouver, Fraser Valley, Capital and Nanaimo Regional Districts, and in the municipalities of Kelowna and…

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Salmon Arm Real Estate Market Cooling ... Slowly

 Like the difference from summer to autumn, the real estate forecast for Salmon Arm and the Shuswap has cooled as seasonal change affects both the weather and the real estate market.

The real estate market generally cools off in the fall, and, so far this year, it's cooled off ever so slightly in the Sushwap area.

For the area from Revelstoke to Salmon Arm and the Shuswap regiion, a total of  142 units were sold in September, down from 161 in August. Of those sales, 53 were residential. And those residential sales are also down 19 units from August's sales.

In terms of home prices on single-family homes and acreages in Salmon Arm and the Shuswap for September, the average selling price was $523,530, down ever so slightly from August's average…

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Key Things to Keep in Mind When Viewing a Home You Might Buy

Most people get pretty excited when they're viewing a home they might end up buying. While at first glance a home may appear to be perfect, with everything you need; however it's very important to make sure the home actually does meet all your requirements. You, the potential homebuyer, need to make sure it's the right house for you before you make an offer and sign over hundreds of thousands of dollars. Your real estate agent can also be very valuable in helping you spot issues when you're out house hunting.

1. Check the size of the Bedrooms

Sure the house has the right number of bedrooms you're looking for, but are they big enough? Think about what's in your bedrooms and make sure your items and furniture will fit into the rooms of house you're…

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Stunning Salmon Arm Home has Everything

 There is only one word to describe this Salmon Arm home: Stunning.

This four bedroom, four bathroom, custom-built home was featured in Jenish Homes & Design Magazine  and everything in it is perfectly designed and thought out. It's situated on a cul de sac in a quiet southeast neighborhood with glorious mountain views.

When you step inside, you're greeted with gleaming maple hardwood floors leading into the open living room, dining and kitchen areas. The living room features a custom built stonework fireplace (two-sided) that will help keep you warm in the winter.  

The kitchen is a dream with high-end stainless steel appliances, including a natural gas range and plenty of cupboard space.

Upstairs you'll find three bedrooms, including the…

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Five Tips for Fall Lawn Care in Salmon Arm

While it may not feel like it right now, fall is just around the corner and that's a time when many people neglect their lawn in Salmon Arm and the Shuswap region.

However, these five steps can ensure your lawn not only stays green and lush, but is healthier throughout the colder winter months, then returns as a healthy, lush lawn in the spring. Keep in mind, Salmon Arm has watering restrictions (limited to two days a week) in place until Sept. 15, with no lawn watering on Mondays.

1. Keep Mowing & Watering Your Grass

Even though your grass won't grow as quickly now that the days get shorter, it's still important to keep the sprinkler on it and mow it when needed. The grass is still alive and needs those essential nutrients to stay healthy. Half…

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Despite Slow July Market, Homes Sales Up Slightly in Salmon Arm Region

Not surprisingly, the real estate market in the Okanagan dipped a bit in July, but home sales usually slow down during the lazy, hazy days of summer. However there was a slight uptick in Salmon Arm over July 2016.

The latest report (which includes the area from Revelstoke to Peachland) from the Okanagan Mainline Real Estate Board shows home sales were down 6% in July from the previous month. A total of 961 homes, condos and townhomes changed hands last month. That's also 2% less than in July 2016, but is certainly par for the course given the time of year.

“While sales activity typically slows over the summer months—with this July no exception—pricing and days on market continue to show strong demand for available housing supply,” said OMREB…

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Five Ways To Beat The Heat in Salmon Arm

As the hot, hot summer of 2017 continues, there are plenty of fun things to do and beat the heat if you're in Salmon Arm or the Shuswap area. For those who have breathing difficulty because of the wildfire smoke, don't worry, we've included some indoor fun as well!

1. Salmon Arm Waterslides

A super-fun way to spend the day includes some speedy sliding at Salmon Arm's waterslide park, which is just off the TransCanada. The best part about this place is the water used on the slides is cold, so you'll actually cool off on the way down. They have seven different slides, as well as a toddler pool and fountain, along with a great assortment of cold treats and drinks. Salmon Arm waterslides also boasts the lowest rates in the southern interior of BC.

2.…

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A Disaster Waiting to Happen

Summer is a time when people pack up the family and and head out on vacation. A great time to have some fun and build some great family memories! 

While away, security is often top of mind for homeowners, ensuring all the doors and windows are locked and someone is stopping by to pick up the papers. This is important to enjoy a worry free vacation. But are you ready for a potential disaster upon your return home? 

You might be thinking, what could happen? It's summer! No furnaces to quit working, no pipes to freeze, no snow to shovel. What can go wrong? 

What I'm referring to is the hot and cold water hoses that connect your washing machine to the taps. Have you noticed? Washing machine manufacturers are so thoughtful for supplying plastic or…

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Home Sales Up Across Shuswap & Okanagan Regions in May

Suffice it to say, May was a busy month for real estate in the Salmon Arm/Shuswap areas, as well as the greater Okanagan region.

According to the Okanagan Mainline Real Estate Board (OMREB) report for last month's real estate statistics, home sales in the entire area were up 38% from April with 1,132 units sold. In the Salmon Arm/Shuswap area (which includes Revelstoke), single-family homes sales were up 8.22%, while the number of townhome sales jumped 61%.

In addition to more homes changing ownership, prices remain higher across the Shuswap region.

Last month, the average price for a single-family home was $440,089. That's up 15.76%. As has been the case this spring, inventory levels are down, especially for the townhome market, which saw a…

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B.C.'s Housing Inventory Sits at 20-year-Low

A continuing trend in B.C. real estate has seen the number of homes and condos for sale drop to a 20-year-low, which means it's a seller's market right now.

But on the flipside, having fewer homes on the market means prices are very high as demand continues to outpace supply.

According to a report from the B.C. Real Estate Association (BCREA), B.C. has hit that 20-year-low for the number of homes on the market after inventory dropped 17% from April 2016 - and down a whopping 50% since 2012 after an adjustment for seasonal variance.

The BCREA says that lack of supply is making the ongoing affordability problem worse.

And, according to Cameron Muir, chief economist for the BCREA, the conditions haven't been seen in a long, long time in British…

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