MOREL REAL ESTATE TEAM NEWSLETTER | FEBRUARY 2020
Sea to Sky Real Estate Update
WHISTLER’s real estate market saw a total dollar volume of approximately $39 Million in January in over 38 transactions. Of those, 6 transactions were for condominium sales, 9 were townhomes and 1 chalet was sold in Whistler. Townhome sales lead the Whistler market for dollar volume in January, with a total of over $14 Million.
For a complete breakdown of Whistler Sales by Dollar Volume, Transactions and Property Types, for the past few years, please check out our blog here
Property sales in PEMBERTON brought in just over $8 Million in dollar volume in January 2020, with a total of 10 property sales. Of those, 3 were condo sales. There were 2 Vacant Land properties sold during January in Pemberton.
Want more Pemberton Stats? Check out our blog here.
MORTGAGE UPDATE
Canada tweaks mortgage stress test in move that could boost housing market.
The change, shifting away from banks’ advertised rates that tend to be higher than actual market rates to determine the minimum qualifying rate, could allow consumers to borrow more, however will still need to show they can afford a rate two percentage points higher than the benchmark.
FEATURED LISTINGS and NEW PRICES
Rare opportunity to own 81.6 acres, 30 minutes from Vail Resort’s Whistler Blackcomb, world renowned ski & Summer paradise. The property is nestled at the foot of the majestic Mt. Currie in the beautiful Pemberton valley, surrounded by spectacular farm land, trees and sweeping views of the mountains. With unsurpassed views and endless outdoor Summer and Winter activities, this private gated property is a one of kind opportunity to custom-build your dream estate including your horse barn, caretakers suite and many more on acreage which affords privacy, and space. This property is an adventure’s paradise, just 5 minutes to the Pemberton airport , to the Big Sky Golf Club and to the Village of Pemberton . Land and home is currently being used as a hobby farm, however is the perfect place to raise a family or to use as a recreational property or as an equestrian retreat. The majestic Pemberton Valley, known for its natural beauty, thriving agriculture industry and countless recreation opportunities, is also quickly becoming an international equestrian centre. Meandering bike paths and forested nature trails just steps from your property. Pick your own fresh produce from your own garden or choose from hiking, mountain biking, canoeing, kayaking, swimming, paragliding, horseback riding or ATV riding in the summer, and cross-country skiing and snowmobiling during the winter. Be minutes away from breathtaking destinations such as Joffre Lakes and Nairn Falls.
322 3309 PTARMIGAN PLACE | $1,279,000
This spacious 1,437 square foot two bedroom + loft unit is ready to move in; beautiful renovated, including dishwasher, microwave, new washer/dryer, large private balcony, gas fireplace and has extra storage – perfect for weekend getaways or full time residence. Nightly rental permitted and GST is exempt. Conveniently located in the prestigious Blueberry Hill area of Whistler, at Greyhawk, a great family complex: well-maintained with a large outdoor hot tub, sauna, pool table and exercise area. The Greyhawk complex also offers a quiet and safe central location, serviced by the Whistler bus service.
REAL ESTATE NEWS
Condo Owners Face Insurance Concerns
Strata property owners – and those who rent from them – are looking at unprecedented costs, while some strata buildings risk losing their insurance entirely…A lack of competition in the market across North America, combined with massive payouts that insurance firms have had to shell out due to increasing severe weather events damaging buildings, have led to the premium increase and in some cases refusal of building insurance. Without insurance there are no sales, no mortgages and if there’s a loss in the building, everybody loses everything.” Read More In The Squamish Chief Here
RE/MAX Western Canada – Quest for Excellence
Bursary Fund Program
RE/MAX of Western Canada is committed to helping future community leaders by offering $16,000 in bursary funds through its annual Quest for Excellence Program. One recipient—in addition to his/her bursary—will receive a hot air balloon ride for two.
The Quest for Excellence Program recognizes the pursuits in leadership and community contributions of Western Canadian students. High school students graduating in 2020 from British Columbia, Alberta, Saskatchewan, Manitoba, Yukon and Northwest Territories are encouraged to write an essay to convey the contributions they have made to enrich the lives of others and their communities through leadership, motivation, volunteering and participation in charitable events or fundraising. Any Student in Western Canada may apply.
“It’s truly amazing learning about our applicants for the Quest for Excellence Bursary Program each year,” says Marie Sheppy, Manager, Corporate Affairs, RE/MAX of Western Canada. “Their admirable attitudes and selfless actions allow them to impact their communities in a positive away.”
“All of the students we recognize each year through Quest for Excellence have made positive impacts on their communities,” says Elton Ash, Regional Executive Vice President, RE/MAX of Western Canada. “This is a program we’re incredibly proud of, because it helps empower these young leaders on their journey.”
ORION in Pemberton has units available from the mid $400,000’s.
Seize the opportunity to buy into your future at today’s prices, at ORION in Pemberton. Construction is underway and several units are still available! Click here to learn more about an investment purchase at ORION.
LOCAL NEWS
Forecast Coffee, Function Junction’s New Hangout
Monday, Feb. 17, the former Olives Community Market space opened it’s doors as a boutique espresso bar and grocery store called Forecast Coffee. Along with an expanded coffee menu—including bags of Forecast-branded coffee beans made in conjunction with East Van’s Agro Roasters—the shop will feature a greater emphasis on ready-made items. That means breakfast buns and pastries for breakfast, and a selection of curries, rice bowls and noodle dishes for lunch to go along with the homemade soups, sandwiches and salads that Olives was known for. Read the full Pique Article Here
Emerald Residents Mixed Response to RMOW Land Purchase
While many Emerald Estates residents are happy with the Resort Municipality of Whistler’s (RMOW) purchase of a residential lot to restore recreation access behind the neighbourhood, the deal isn’t striking everyone the same way. Access to the Crown land surrounding the neighbourhood—which includes One Duck Lake and trails for hiking and mountain biking, as well as a wiffle golf course—has effectively been cut off in recent years due to private development, leaving residents frustrated. By purchasing the $1.7 million lot, the RMOW plans to restore access—though planning for how exactly that will work is still in the very early stages, according to a municipal spokesperson. The lot currently holds a four-bedroom house that the RMOW intends to eventually use for employee housing. Many residents will no doubt have questions concerning signage, parking, garbage, fire risk and more. Read the Full Pique News Article Here.
Tourism Whistler/Guy Fattal
Tourism/JustaJustova