
Here are some points to peak your interest.
Fig 1. Graph of Recreational Property Prices from 1984-2004
Whistler Canmore Kimberley
1984 $80,000 $50,000 $20,000
1988 $100,000 $60,000 $25,000
1992 $210,000 $100,000 $35,000
1996 $400,000 $175,000 $55,000
2000 $550,000 $255,000 $75,000
2004 $602,000 $285,000 $118,000
Fig 2. Oh Canada Oh My, by Ken Castle (Ski Magazine)
“There are a few wrinkles in Canadian real estate transactions and ownership that Americans must adjust to. For example, on new real estate, if you are buying for personal use only, you’ll be assesed a GST (federal Goods and Services Tax)”…”However, if you put your unit into a rental pool, thus qualifying it as commercial, and you don’t occupy it for more than about a month a year, those taxes are deferred indefinitely” *
* ask your accountant if deferred taxes are an option
“Is it worth the effort to buy in Canada? Just ask Kermit and Tracy Ecklebarger of Redmond, Wash., who bought a one-bedroom condo at Sun Peaks for the grand sum of $86,000 US (2002) and frequently make the drive there with their two children. “We don’t need crowds and nightlife,’ says Kermit, a housing contractor who turns 40 this year. “We just want good snow and a place where we can feel safe with our kids. And how can you beat the exchange rate?”*
* I drive from Red Deer, Alberta (5.5 hrs) to with my kids to Kimberley to ski and fish…
Fig 3. Housing the Boom, Bust and Echo Generations – Research Hilights from the Canadian Mortgage and Housing Commission (CMHC)
“The second-home market is also exploding as the Boomers begin planning for their retirement investing in vacation homes that will eventually serve for their retirement homes.”
* see Fig. 1
Fig 4. Part 3 Age Demographic, Buying Cycles and Real Estate Appreciation – Arthur Dent (Socio Economic Report)
“smaller towns will make resort areas the hottest property for investors. As you can se in Chart 1, this buying cycle began in 1986 and is expected to peak around 2013”
“the Southwest, Rocky Mountains, and Northwest (in that order) will have the highest population growth and the greatest potential real estate appreciation in the nation.”
“As a result of congestion and expense along the coastal areas, it is inevitable that people and businesses will begin looking at inland areas to find attractive towns and cities. That’s why were seeing such remarkable growth in the southerly portions of the Rocky Mountain area…”
“You want to catch an area that is just taking off, or one that is accelerating again after a consolidation or drop in prices.”
Fig 5. Ozzie Jurok - Top Ten Brainest people in Canada
Ozzie Jurok is Canada’s real estate guru. He published a book called Forget About, Location, Location, Location Timing is everything”. He does not argue that owning waterfront property is a no brainer. He contends that people should watch for indicators so that they buy at the right time.
From what I read the fact that we have an airport that is approved for expansion, a casio, a walmart and a mountain community that offers skiing, golf, fishing and more at prices less than major destination resorts such as Banff and Whistler hilites that timing looks good for people to buy recreational property in Kimberley, BC.
** free online reports Cabin Lite Reading 1,2,3 etc can be download from
http://www.cmcabins.ca/Homes.aspx?tabid=202498
** login to my guestbook (1400 entries and growing) and see photos
www.ryze.com/go/mcleang
