January 20
Realtor, Jim Barber
If the MLS® story in 2008 was about peak inventory levels, the story in
2009 was about trying to predict when the sluggish real estate market in the Kootenay’s would recover.
When compared to past real estate statistics of Total MLS® Sales from 1989 to 2009, the 1st Quarter of
2009 ranked the second worst on record. The 2nd Quarter ranked dead last. It wasn’t until the 3rd Quarter of
2009 that the MLS® markets started to recover, moving up the ranking to a respectable 13. 2009 ended
with Kootenay real estate markets in full recovery mode and a 4th quarter ranking showing a very
respectable 4th when compared to market performance over the last 21 years.
Kootenay Real Estate Board President Jim Barber comments: “We all expected that 2009 would be an
interesting year with consumers waiting for the financial markets to stabilize before making decisions
on buying real estate. The very low 1st and 2nd Quarter MLS® Total Unit Sales statistics show that
there was a patient buyer population out there waiting for the right combination of interest rate and
real estate price adjustments. As we moved into the 3rd Quarter, affordability spiked as those
adjustments occurred, and that group or buyers entered back into our markets, setting the stage for
a strong end to the year.”
When asked about his predictions for real estate markets in the Kootenay’s for 2010 President Barber
remarked: “Generally, I’m cautiously optimistic about Kootenay Real Estate Markets in 2010. Our
Provincial and National Real Estate Association Economists are indicating we are out of the
“technical recession” and they are predicting an increase in the number of MLS® Unit Sales across
the province. Market conditions are still good for buyers as interest rates remain low, and the
inventory of housing stock slightly higher than average. We continue to move towards a position of
balance in the market as inventory levels decline and interest rates trend higher in the last half of
2010. Overall it should be another reasonably good year for the real estate buying public.”
MLS® Dollar Volume of all sales processed through the Kootenay Real Estate Board reached almost $640
Million Dollars in 2009, a drop of 17% from 2008 levels of over $768 Million Dollars of real estate
changing hands.
MLS® Unit Sales finished 2009 down 13% when compared to total MLS® Unit Sales in 2008.
The price of the average Residential Detached house sold on the Multiple Listing Service® (MLS®) in
2009 declined 8% to $291,561 compared to the amount of $316,600 reported in 2008.
Kootenay Real Estate Board MLS® statistics for 2009 show Residential Detached Housing listings down
12% over 2008. MLS® Unit Sales for Detached Single Residential Housing experienced a decline of 2%
over amounts reported in 2008.
Overall, the number of MLS® Listings in 2009 decreased 12% over 2008. MLS® Unit Sales declined 13%
in 2009 over amounts reported in 2008.
January 19
An Edmonton development company has scooped up the bankrupt Resort at Copper Point in the Columbia Valley according to a report in the Columbia Valley Pioneer newspaper. Rohit Group is run by CEO Radhe Gupta and picked up of the resort for $10 million plus a percentage of sales to the receiver until 2013.
The Rohit Group of Companies calls itself the premiere real state company in Western Canada with a mission to develop real estate markets through superior capital, asset and project management.
Robit had been bidding against Brahma Capital who failed to meet a mid-December financing deadline.
Brahma had originally offered $15 million for Copper Point Resort.
The Copper Point Resort is located on east side of Highway 93 across from the existing Copper Point Golf Course to which it is linked by an underground tunnel.
January 18
Kutenais Finest Personal Training is opening a new location at 182 Baker St. (across the street from speedy auto glass & upstairs). This newly renovation private personal training studio will offer an array of options to help you reach your health & fitness goals. The services provided are as follows:
Ali Popoff – Certified C.H.E.K Exercise Coach – Specializing in postural assessments, rehabilitation and personal training. Offering fitness classes of all levels, private training & group training.
Megan Mckay – Certified Pilates Instructor – Offering beginner & intermediate mat work classes and one on one private training.
Tim Mackenzie – Transcendent Combat Sports – Offering Mixed Martial Arts, Brazilian Jui Jitsu, Kickboxing & Kids MMA classes.
Minn Benedict – Certified Personal Trainer & Nutritional Consultant – Offering fitness classes & one on one personal training.
Shawna Urbanski – Neurosomatics & Trigger Point Release – Offering postural assessments & trigger point.
Paul Gaucher – Acupuncturist – Offering Acupuncture, Chinese herbs & nutritional consulting.
Colli Christante – Energy Physiology – Colli K Christante is known as an Inner Fitness guide and Human Design Engineer. When working with individuals, Colli uses PTTK—Pockets of Through Time KinesiologyTM—to assist clients to become Masters in all areas of their lives.
This studio will be open to any outside trainers or therapists who would like a private, modern & clean environment to bring their clients. This studio is equipped with exercise balls, medicine balls, free weights, balance boards, bosu balls, benches & cable systems.
For more details please email Ali at .(JavaScript must be enabled to view this email address)
January 15
Kathy Cooper has been busy representing the Kootenay Rockies region at tradeshows.
National Tour Association – Kathy Cooper attended the annual marketplace held this year in Reno, Nevada mid-November. This is the premier motorcoach show for the North American market. Appointments overall were down this year for most suppliers, which is a direct reflection of the current US travel market numbers to Canada. The US economy has not rebounded from the recession. However, this is a market that we cannot abandon from as the opportunity for growth and recovery is tremendous, especially with the attention the Olympics will put on our province and Canada.
Canada’s West Marketplace -This marketplace held in Victoria (Nov 30th & Dec 1st), showcases Western Canadian suppliers (Alberta and BC) together with key tour operators, wholesalers, receptives and on-line travel companies from all over the world, for a series of one on one meetings over the course of a day and a half. Kathy Cooper and Chris Dadson attended Canada’s West this year and had some very successful appointments. The FIT market is growing and operators are keen to learn about new itineraries and opportunities throughout British Columbia. Everyone is optimistic that the global economy and travel will improve by 2011.
Some good news for the Kootenay Rockies is the new Air Canada flight that will be flying direct from Tokyo to Calgary and Calgary to Tokyo, three times per week beginning in March 2010. These visitors will be a captive audience for the Kootenay Rockies region and our focus will be to work with the operators & receptives on opportunities for these travellers outside of the Alberta boundaries.
Source: Kootenay Rockies e-newsletter
January 14
Flight Centre Trade FAM Participants & Kathy Cooper at the Fernie Alpine Resort
Flight Centre Visits Powder Highway Ski Resorts
The Kootenay Rockies region has already hosted the first Ski Fam Tour of the season! The fam took place December 9 – 14th. The participants included Group Leaders with Flight Centre offices in Ontario, 8 travel agents, and the National Marketing Manager from Vancouver.
They began their fam at Fernie Alpine Resort and continued on to Panorama Mountain Village, Kicking Horse Mountain Resort and their final day was spent at Revelstoke Mountain Resort. They had a fantastic time and increased their Kootenay Rockies ski product knowledge immensely. Here are some of the comments we have received back from the participants:
“I wanted to send a BIG thank you out to BC Tourism-you guys were awesome and that was far and away the best FAM I have ever been on!” (Eric Sakawsky | National Marketing Manager).
“I would like to thank you for helping put together such an amazing opportunity for us to come out and not only experience what resorts and amenities there are but for being able to wake up each morning in paradise. I know I can speak for the group that it was probably one of everyone’s favourite trips ever.” (Ivona Siniarska |Team Leader, Flight Centre, Bay St, Toronto, ON).
Kootenay Rockies Tourism would like to thank all of the resort partners and the community suppliers, accommodators, restaurants and Pure Travel Inc., for the tremendous support we received in putting this itinerary and fam together. We believe it will help generate lots of visits to our resorts and ski communities over the coming season from Flight Centre clients!
Source: Kootenay Rockies E-Newsletter
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Keith Powell is the publisher and founder of Kootenay Business magazine which is part of the Koocanusa Publications family. He has written a regular sales and marketing column, called Ad Talk, in Kootenay Business magazine for over 20 years. He also writes a daily business blog about business developments in the Kootenays. He is a director of Kootenay Rockies Tourism and the Kootenay Rockies Regional Economic Alliance (KRREA).
E-mail Keith if you have a business story idea.
Bizblog archive
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