Recreation Property Marketing Group
15117 Columbia Avenue White Rock, BC V4A 2J4
Telephone: (604) 535-5276
Fax: (604) 535-3553
E-mail: sales@recreationproperty.com

Envelope-to: donalde@globalairphotos.com
From: "J. Kivilahti" <jorma@zoolink.com>
To: "Hi Everyone" <jorma@recreationproperty.com>
Subject: Recreation Property Real Estate News
Date: Mon, 13 Aug 2001 15:08:21 -0700
X-Priority: 3
Status:   

Aug. 13, 2001   
What's Happening in B.C. in 2001?
 
Recreation Property is hot stuff in 2001.... or so it seems.  To get a real scoop on what is happening so far this year, it is essential to hear the comments of realtors from different parts of British Columbia.  You can then put all of these comments together and form an opinion of the real estate market today. 
 
So let's hear from our experts across the province.  (As a note, we do try and speak with different realtors for each edition that we publish these opinions.) 

Gabriola Island- Jheira Springford:  "...market is active but in August, it generally is... not as many sales as last year.  Prices are not going up at this time... things are stable.  Our pricing follows the Vancouver market by about 2 to 4 months, and the Vancouver market has been going up and down in waves this year.  The change of government has lifted consumer confidence higher and people see more stability when buying homes."
Williams Lake- John Jaeger: "It's been a bit slow, especially on the recreation market side.  However, we have had more enquiries than we've ever had but the actual number of properties sold is less than we would have like to have seen.  Predictions?.... exchange rate on U.S. dollar is good.... lots of U.S. enquiries.  Next year is going to be better!"
Merritt- Darch Oborne:  "The Nicola Valley area recreation property interest is picking up because of low prices, baby boomers and pre-retirement property buyers.  Prices are an amazing 25% less than 5 years ago, but we are now starting to have a limited supply.  It is a much better market today than last year... probably up by about 50%."
Castlegar- Richard Askew:  "...there have been some sales in recreation property but generally mostly residential.   Sales have improved over last year.  We now see a lot of activity.  Cominco is shut down for 2 months and this has been hampering sales somewhat.  There is more positive than negative in the market place this year.... a positive trend in the market overall.  We are having our best year ever.  Top end prices are still soft with falling prices and there are still bargains there.  Bottom end is active, $120-135,000, with modest increases in pricing.  It is still a buyers market and looking pretty good."
Fort St. John- Sallyanne Cameron:  "According to the stats, sales are the same as last year, but according to the realtors, it's a lot harder.  The local people are moving up so that every sale has a subject to another sale attached to it.  We are looking forward to a bit of a boom in the next two years because of the new pulp mill and possible pipeline.  Today, prices are about the same as last year, but we are very optimistic for the coming year."
Fernie- Terry Blackburn:  "The Fernie market is known for its powdered snow skiing... last year very little snow except in the late spring.  We didn't do badly but not like we have done in the past.  Last year, the developer of the ski hill ran into problems and the whole area then hit a speed bump in the market place.  Property values have now levelled off after the 35% increase in the last two years.  I consider it a buyers market and feel that the market will again turn around later this year or next, as we have a gem here in our ski hill.  Fernie is in its infant stage and is going to be a world class resort in the next ten years."
Fraser Valley- Len Bourgeault: "... sales were hot from the middle of June until the end of July.  Things have slowed down now..."

Editors Comments:  So, it appears that things vary according to how far you are located from the epicentre of the major real estate influence, Vancouver.  It's just like an earthquake.  The farther away you are, for example, Fort St. John, then the longer it will take for the min blip in the market place that just occurred, to be felt.  While everyone hopes that this quick spurt in the market place is an omen of things to come, that may be true however, the time may not be year 2001.  Fraser Valley felt the blip almost the same time as Vancouver, but the Okanagan and the Cariboo are about 4-6 months behind, the East Kootenays even longer.  The note of caution is that there appears to be some settling down and the market slowing down considerably after the jubilation of the election victory celebration.  In our opinion, it may take another year or even two for prices to truly start rising after the economy gets back into "drive" and out of "reverse" gear.  True, the local Vancouver newspapers have been bullish about the upturn in the market.  The caution word here is not to believe everything that you read in the newspapers, they want to sell newspapers, not real estate.
 
Therefore, the prognosis is that it still remains a buyers market this year, prices may not change much, if any at all, depending on the area of B.C. that you are looking in.
Advice:  The sooner that you react, then the better off you will be.
 
The Quote of the Day:
"Don't worry about the world coming to an end today. It's already tomorrow in Australia."
- Charles Schultz
If you would like to speak with us in person regarding this newsletter, send us an email with your telephone number and we would be happy to call you.

Canada's largest Internet Site for recreation property such as lots, cabins, waterfront, lodges, resorts, B&B's, pubs, hotels, marine charters, spas, ranches, farms, or rentals is <http://www.recreationproperty.com>www.recreationproperty.com.  If it has to do with Recreation and Property, then this is where you will find it.  Remember, if you would like your "For Sale by Owner" or "MLS" listing advertised here, drop us a line.  Check out this site by clicking  here.... <http://www.recreationproperty.com>www.recreationproperty.com

