806 Victoria, Nelson, BC

 

Location, Location, Location!  A short stroll to Nelson's historic Baker Street and your favorite coffee shop or restaurant, this home is central to all that Nelson has to offer.  This heritage home was significantly rebuilt in 1992 and has 3 bedrooms plus den and 2 bathrooms.  It will appeal to those who seek an urban lifestyle in the Queen City.  This home features quality upgrades throughout.  Outside you will enjoy a low maintenance landscaped yard that is fenced.  There is also a detached garage off of the lane that would make a great workshop/studio. With views of the city and lake, this home is the complete package at an affordable price.
$383,000
MLS# K218291

 



3930 MacGregor Rd, Nelson, BC

 

 

This spacious 4 bdrm, 3 bath North Shore family home offers the best value for homes in its caliber. It features: a large floor plan saturated with natural light allowing seamless transition from room to room, a gourmet kitchen with high-end stainless steel appliances, sunken dining and family rooms, oversize bdrms with an impressive master ensuite and a lovely library area to enjoy. The home is situated only 12 mins from Nelson on a lush .54 acre fenced property offering privacy and an abundance of vegetation, gardens and green space. The full height partially finished basement has a wine cellar, workshop, storage and plenty of space to develop with suite potential. An added bonus is the waterfront access just a short walk away.

$499,900
Call to set arrange a viewing.
Robert 250-354-8500

Canadian Housing Starts and Labour Force Survey

Housing Starts

Canadian housing starts registered 160,577 units at a seasonally adjusted annual rate (SAAR) in January, down from nearly 200,000 (SAAR) in December.  Year-over-year, housing starts were 24 per cent lower in January.

New home construction in BC urban centres rose nearly 8 per cent month-over-month in January to a seasonally adjusted annual rate of 21,856 units.  However, on a year-over-year basis, total starts were 19 per cent lower than January 2012. Single-detached starts were 8 per cent higher over last year, while multiples fell 27 per cent compared to January 2012.

Looking at census metropolitan areas (CMA) in BC, Vancouver CMA starts fell 20 per cent year-over-year in January. Single-detached starts were 19 per cent higher than last year, while multiples were almost 30 per cent lower.  New home construction in the Abbotsford CMA was up 25 per cent compared to January 2012. Housing starts in both Kelowna and Victoria were up 12 per cent compared to last January.

Employment

After two months of strong gains, the Canadian economy shed 22,000 jobs in January, though a decline in people looking for work pushed the unemployment rate lower by 0.1 points to 7 per cent.

Employment growth in BC is off to an difficult start as employment fell by 16,000 jobs in January. However, an out-sized contraction of the labour force prompted a decline in the unemployment rate to 6.3 per cent.

Copyright BCREA - reprinted with permission

Canadian Building Permits

Canadian building permits declined 11 per cent in December, following a 15 per cent increase in November. The decline in permits was a result of both lower non-residential and residential construction intentions.  For all of 2012, Canadian building  permits rose 9 per cent over 2011, reaching $80.5 billion and surpassing the previous peak set in 2007.

In BC, permitting activity declined 15 per cent in December due to a slowdown in both residential (down 9 per cent) and non-residential (down 27 per cent) permit volumes. For all of 2012,  the dollar volume of non-residential construction permits in BC rose 16 to $10.7 billion.

Permit activity in BC's four major metropolitan areas was mixed in December. Permit values more than doubled from November in the Abbotsford CMA and rose 31 per cent in the Kelowna CMA.  Conversely, permit volume fell month-over-month in the Vancouver CMA by 23 per cent and by 25 per cent in the Victoria CMA.

Copyright BCREA reprinted with permission

2018 Tarry's

Contemporary Country

Just about everything in this home that isn’t new has been upgraded.  The newly completed addition adds more than just square footage to this great family home with a new 4 piece bathroom, extra bedrooms and a country style living room. Ready to move in and enjoy; the more significant improvements of this property include a 1000 plus square foot addition, 200 amp electrical, hardy plank siding, new roof, heat pump, furnace and a new septic system. Located on a secondary road in Tarry’s, this 1 acre property is close to both Nelson and Castlegar. Call Robert @ 250-354-8500 today to set up your appointment to view.  $279,900

 

US Non-Farm Payrolls

The US economy added 157,000 jobs in January and November and December job growth was revised higher by a whopping 127,000 jobs. Robust jobs numbers further re-enforce that the growth hiccup last quarter was an anomaly brought on by a sharp one-time decline in defense spending rather than underlying weakness in the US economy. The US unemployment rate ticked slightly higher to 7.9 per cent due to an increase in individuals actively looking for work.

Copyright BCREA - reprinted with permission

Canadian Monthly GDP Growth

The Canadian economy grew 0.3 per cent in November, following 0.1 per cent growth in October. Production was higher in most industrial sectors with the main contributions to growth coming from manufacturing, oil and gas and mining. 

Our updated fourth quarter GDP estimate is currently reading just 1.1 per cent growth (at an annual rate), in-line with the Bank of Canada's most recent forecast. We anticipate that growth will continue to be modest through the first half of 2013 before accelerating in the second half of the year and into 2014.
Copyright BCREA - reprinted with permission

US Q4 Real GDP

The US economy unexpectedly contracted by 0.1 per cent in the fourth quarter of 2012 as growth was pulled down by the largest decline in defense spending in four decades. The US economy expanded 2.2 per cent for all of 2012.

While the modest decline in GDP is likely to spur use of the "R" word (recession) in the media, it is worth noting that today's release is the advanced estimate for real GDP and is subject to revisions which can be substantial. Moreover the contraction in output was almost entirely due to an unprecedented plunge in defense spending, which along with slower private inventory accumulation, pared 2.6 per cent from real GDP growth. In fact, the underlying details of the report were actually quite positive. Consumer spending accelerated on the largest personal income gains in four years while both business spending and residential construction investment grew at a double digit rate. These details, along with strong employment growth in recent months, suggests that US growth will pick-up in the first quarter of 2013.

Copyright BCREA - reprinted with permission

BC Home Sales to Trend Higher in 2013/2014

BCREA 2013 First Quarter Housing Forecast Update

The British Columbia Real Estate Association (BCREA) released its 2013 First Quarter Housing Forecast Update today.

BC Multiple Listing Service® (MLS®) residential sales are forecast to increase 5.6 per cent to 71,450 units this year, before increasing a further 6.1 per cent to 75,830 units in 2014. The five-year average is 74,600 unit sales, while the ten-year average is 86,800 unit sales. A record 106,300 MLS® residential sales were recorded in 2005.

"2013 is shaping up to be a transition year in the BC housing market,” said Cameron Muir, BCREA Chief Economist. “The groundwork has already begun for stronger housing demand as a significant number of part-time jobs in BC were converted into full-time employment last year."  

"Residential values are expected to be on a more solid footing in 2013 as lower prices, both actual and inflation adjusted, have improved affordability. Many potential buyers that stayed on the sidelines in 2012 will likely enter the marketplace over the next year as the relatively strong financial condition of BC households precludes any deflationary spiral."

The average MLS® residential price in BC is forecast to edge down nearly 1 per cent to $510,400 this year and remain relatively unchanged in 2014, albeit up 0.6 per cent to $513,500.

Copyright BCREA - reprinted with permission

Consumer Price Index

Canadian consumer price inflation remained subdued in December with prices rising just 0.8 per cent, the same increase that was registered in November.  The Bank of Canada's core inflation index, which excludes the eight most volatile components of the CPI like energy and food, rose just 1.1 per cent year-over-year in December, a moderate deceleration from November.  Inflation in BC registered only 0.4 per cent year-over-year.

Core inflation continues to trend well below the Bank of Canada's two per cent target rate which suggests that the Canadian economy is still operating with a substantial amount of excess supply. Very low inflation no doubt contributed to the Bank's easing of its rate tightening bias earlier this week, pushing a potential increase in interest rates from 2013 into 2014.

Copyright BCREA - reprinted with permission