WI Staff, Western Investor, August 2011
Perhaps the strongest evidence of a recovery in the Kootenay recreational market is the sale of ranch-sized acreages at the exclusive Ranches at Elk Park just outside of Radium Hot Springs. Prices range to nearly $3 million – and that is just for the land.
“We have sold two lots, and we have holds on two others,” said Rudy Nielsen, founder and president of NIHO Land &
Brian Morton, Vancouver Sun, January 21, 2011
VANCOUVER — A sharp drop in demand for B.C.’s high-end rural waterfront properties has resulted in price reductions that in some cases are substantial.
Unlike Metro Vancouver, which has seen a market rebound over the past year after a recessionary slowdown, many rural areas across the province have experienced a prolonged slowdown in sales of such properties.
As well,
Carla Wilson, Victoria Times-Colonist, January 18, 2011
Tighter federal mortgage rules may squeeze some potential homebuyers out of the market but are not expected to drastically affect prices, say Greater Victoria real estate officials.
Those seeking high-ratio (with less than 20 per cent downpayment) mortgages — often newcomers to the market — could be priced out of the market for now while others may have to pare expectations.