Posted : Thu, Jun 16, 2011 8:24 pm

Boost in Whistler real estate sales

  New report shows trend of local buyers replacing international interest

By Christopher Poon

The Whistler Question

Local buyers are snatching up real estate in Whistler in what at least one local realtor sees as a return to market norms following the brutal impact of the 2008 recession.

According to the 2011 Re/Max Recreational Property Report, released Monday (June 13), buyers from Vancouver and the Lower Mainland are purchasing more recreational properties in Whistler than previous years, offsetting the reduction in international buyers.

“We’re not seeing a lot of U.S. buyers and there are fewer Europeans as their travel patterns have changed, which does mirror what’s going on with the tourism side of things,” said Pat Kelly, owner of Whistler Real Estate. “There’s no question that there’s certainly an increase level in buyers in the Whistler area and they are predominately from the Lower Mainland.”

According to the report, sales in Whistler were up 58 per cent in the first four months of 2011 compared with the same time last year, with townhomes seeing the greatest improvement in sales. The report also states that the highest demand seems to be for properties in the $300,000 to $700,000 price range.

“Demand for recreational product in Whistler is expected to continue to climb in the months and years ahead, as the market is bolstered by the bounce effect from ideal ski conditions in 2010/2011 and the 2010 Olympics,” the report says.

When asked if he thinks the Whistler market is on the upswing, Kelly said that parts of the market seem to be doing better than before.

“I don’t disagree with it. I wouldn’t call it so much of an upswing as a return to a normal market, to a balanced market which offers a good amount of choice to buyers. And buyers are really seeing a lot of value to things that are on the marketplace today, so they are more inclined to act today than say a couple of years ago,” he said.

However, Kelly is quick to point out that one generalization shouldn’t apply to the entire Whistler market.

“You can’t apply one adjective to the entire marketplace,” said Kelly. “There are certain parts of the market that have certainly improved over a year ago.

“A year ago was the six months of the Olympics, so that was a slower period anyways for a lot of obvious reasons. You couldn’t get around town.”

As for luxury home sales in Whistler — properties priced at $2 million and over — the report said sales appear to be in line with last year’s. Kelly said while luxury home sales may not be improving, it shouldn’t have too much of an effect on the overall scene.

“I think there’s a big misconception as to how big luxury homes are in the market in Whistler,” said Kelly. “The general amount, 80 per cent of the activity in Whistler, occurs under $1.5 million. So there is activity at the higher end; it’s at a level that I would consider to be normal.”

Overall, Kelly said it currently appears to be a buyers’ market in Whistler and he predicts that the market will continue slowly but surely in the direction that it’s headed.

“If you look at the last 10 years, we went through a period of very rapid growth followed by a consolidation phase where prices levelled off and in fact reversed themselves in some cases,” explained Kelly. “The markets basically levelled off starting in 2008 when everything hit the fan. So we’re really in that stage where things are really moving forward in what I would call a very predictable manner.”

Posted : Wed, Jun 8, 2011 6:25 pm

Check out the *New* Whistler Real Estate Magazine!

The new Summer/ Fall edition of our listings guide is now available for viewing.  Please click the link below.

http://www.myvirtualpaper.com/doc/Whistler-Real-Estate/wrec_magsummer2011_forwebcomplete/2011060701/

Posted : Thu, Jun 2, 2011 5:52 pm

Whistler Half Marathon drawing first-timers

Many locals taking advantage of race close to home

By Eric Mackenzie

Source: Whistler Question

 The Whistler Half Marathon is set to make its debut on Saturday (June 4) and some local runners are using the event to make a competitive debut of their own.

First-time entrants in the 21.1-kilometre race, like Whistler resident Bree Lehto, said having a half marathon so close to home was a major factor in their decision to try the distance in a race format.

“I’ve always been interested in running and have been getting into it more over the last year,” said Lehto, who ran her first 10-km race in 2010. “I thought about doing (a half marathon) last year and now that Whistler’s having one, I have to take advantage of it.”

Race director Dave Clark said Lehto’s motivation is similar to that of many living in the resort who are set to complete their first half marathon on Saturday.

“We’re definitely hearing a lot of people that are saying, ‘It’s so great to have it here because now I don’t have to travel,’” said Clark. “Because it’s here in town, it’s made it easy for those people who have sat on the fence in the past about going and doing one, because it’s a bit intimidating for your first event to pick up and travel to a different destination, spending the money on accommodations and to get there, then put yourself in a crowd of people where you don’t know anybody.”

Since Saturday’s race is more than twice the distance of Lehto’s last competitive outing, she said she’s had to take a different approach to training to prepare for the half marathon distance.

“I’ve been loosely following a half marathon training program where you have to incorporate hill runs and long runs — a little more structured than I’m used to,” she said.

The same goes for Jayne Lomas, who has been on a 17-week program bringing her right up to race day.

“It’s been going quite well and I’ve stuck to it the whole time,” said Lomas, noting that she’s also participated in some of the Saturday training runs offered by race organizers. “I’ve done (the total distance) twice now and it went a lot better than planned.”

Under the eye of a running partner from work, Lomas said she finished her 21.1-km run in a time 22 minutes quicker than her initial goal.

“Now I’m kind of nervous for race day that I won’t match my training time,” she laughed. “But I’ll just be happy to finish, I guess.”

Lehto recently completed the race course on her own, and though she said she found it difficult, finishing the course gave her a nice confidence boost for the start line on Saturday.

“I wanted to know that I could do it mentally,” she said. “I did it at a slow, steady pace and now I know I can do it.

“It’s nice having the home court advantage, too… because a lot of the course is stuff I run all the time.”

Clark said that race organizers weren’t necessarily trying to make the route easy, but that they tried to plan one that would still be inviting for first-timers in Whistler.

“We certainly designed the course to make it achievable for runners of all abilities,” he said. “The familiarity of the terrain is a big win for the local runners.”

Runners will take their mark at 7:30 a.m. on Saturday, leaving from Whistler Olympic Plaza, with the leaders expected to arrive at the finish line — also located in the plaza —slightly more than an hour later.

 

Posted : Thu, Jun 2, 2011 5:50 pm

Council’s move to delay pay parking ‘political’: Forseth

WB parking committee rep says costs of paving and debris barrier have to be repaid somehow

By Christopher Poon

Source: Whistler Question

 Free parking is still available in Whistler’s Day Lots 4 and 5 this week, in spite of the previous plan to implement pay parking in those lots starting Wednesday (June 1).

The expansion of pay parking in the Day Lots and increased rates were met with outrage and frustration by residents and some members of council. After a special council meeting held last Thursday (May 26) to address the issue, the plan was shelved — at least for now.

At last week’s meeting, council directed the municipality’s chief administrative officer (CAO) to meet with the Parking Lot Operating Committee and request that the June 1 implementation be delayed.

The original motion, put forward by Councillor Ted Milner, was that the operating committee be disbanded. It was revealed at the meeting, however, that council doesn’t have the power to strike the group as the B.C. government would also have to agree under terms of a previous agreement.

The operating committee is the authority that oversees the maintenance and operation of the Day Lots. The group is made up of two municipal reps — CAO Bill Barratt and Jan Jansen, general manager of resort experience — and two representatives from Whistler Blackcomb — senior VP of operations Doug Forseth and Bob DuFour, VP of mountain operations.

Directly following the meeting it was uncertain if the operating committee would be able to meet in time to address the delay request before June 1, but after speaking with Forseth on Monday (May 30), The Question learned that the committee decided to delay pay parking in Lots 4 and 5 and cancel the planned paving of Lot 5.

“It is our intention to put in summer rates the same as they were last year ($12 per day) for the time being,” said Forseth. “It will probably go through (to) Labour Day.”

Milner said he was happy to hear the committee decided to act on council’s request.

“Most people seem really pleased with it. I mean, we don’t know really what the outcome will be. Fifty cents off is not going to do it as far as I’m concerned,” said Milner. “When this whole thing was rolled out for us and the parking committee was put in place by the last council in ’07 the committee was formed supposedly to make it not political. Then we read your paper a couple of weeks ago and it says the municipality rolls out pay parking so we are wearing it whether we want to or not and that’s why we’ve made a fuss about it.”

Despite the delay, pay parking is likely to come to Lots 4 and 5 eventually. According to Forseth, the revenue budgeted to come from the implementation of expanded pay parking still has to come from somewhere and the operating committee is hoping to work with council to get that sorted out as soon as possible.

“We have an agreement that says a number of things, and one of the things that drive the parking fees is that there are certain things that are to be paid for,” said Forseth. “Operating costs, half a million dollars to transit, the repayment of capital costs for the debris barrier and the improvements. That’s what we are trying to do with the parking lot committee.”

Forseth said according to agreements in place between the municipality, the Province and Whistler Blackcomb, the money initially taken out of the reserve capital funds to pay for the paving of the parking lots and the debris barrier has to be repaid.

“What everyone is missing here, and hopefully council will figure this out sooner or later, is they want to reduce to cost of parking or eliminate the cost of parking, then they have to come up with the money to cover the requirements of the agreement. That agreement’s not going away,” said Forseth.

He also said council’s last-minute request that the expanded pay parking be delayed appeared to be more of a knee-jerk reaction to the community’s sensitivity on the issue. He and the committee will be proposing that council and others in the community get more involved with how the future of pay parking is approached.

“Every day that we go by is going to dig a deeper hole for council to dig out of, but that’s their choice, so that’s the way it’ll go,” he said. “We could put the new rates in but I don’t think that makes any sense right now given the understanding that council wants to see them changed. They don’t have that authority, but we respect who they are and what they’re doing.”

Milner said that the point of the motion was to put a stop to something that was obviously unpopular with many people.

“As long as we can get them to take a reasonable look at what it is they’re trying to do, that’s what we want,” said Milner. “I’m not unhappy with Whistler Blackcomb, I’m unhappy with the municipality and what we’re doing from our side of it.

“I’m concerned… that they’re using all of their perceived costs to drive the parking rates, which is backwards. All business begins and ends with the client, and frankly to ignore your client totally and drive everything up for what it costs is what they used in Moscow and it didn’t work.”

So while free parking continues in Lots 4 and 5 for now, change is definitely in the cards for the coming weeks.

“I think it’s very important that councillors deal with this on their watch and don’t put it off until after the election,” said Forseth. “I think most of what you’re seeing now from council is political and I think council needs to address that pressure and deal with it now.

“We want this done way before the election. If it isn’t, then maybe we have to do something because it’s going to be a problem.”

While Milner disagreed with Forseth’s assertion that the motion was politically motivated, he’s also eager to see the issue put behind them.

“Let’s sort it out this month, absolutely,” said Milner. “If you’re trying to run a resort and trying to have people come and visit you and have an extremely high gouge factor it just seems to me that you should take a hard look at what you’re doing. It has nothing to do with politics.”

 

Posted : Tue, May 17, 2011 6:40 pm

Spring is finally rearing its pretty head…

 It has been a very long winter season here in Whistler with the mountains still receiving fresh snow on a weekly basis.  The Whistler Mountain Bike Park it slated to open May 20th and although there are still skiers and riders making their way up the lifts, the biking community is raring to go!

Check out some of the things to do around Whistler this Spring…

8th Annual Whistler Chamber Golf Classic!

1:00pm-1:40pm      Registration at the Club
     1:40pm                  Welcome and reading of the rules at the 1st tee
     1:45pm                  Guest Hosts will escort groups to their starting holes
     2:00pm                  Once your team arrives at its designated tee, begin to play
     At Finish                 Après reception, burgers and refreshments
     7:30pm                  Prizes and Awards (must be present to win draw prizes)
Admission: $60 + HST per person (includes power cart, burger and a beer)
Location: The Whistler Golf Club

For more info contact the Whistler Golf Course

Outlook Economic Outlook Symposium

Building on Whistler’s national and international reputation, the OUTLOOK Economic Symposium, hosted by the Whistler Chamber of Commerce, June 5-6, 2011, will be an annual event that attracts expert speakers from a variety of industries, delivers compelling content and hosts business and community leaders from across the province.

In its inaugural year, and in the context of the economic, financial, demographic and consumer trends affecting Canada and the rest of the world, the conference will examine the issues and opportunities influencing BC’s economic future in the decade ahead.

Topics will include:

  • Watching the World: Today’s Global Economic Outlook
  • Concentrating on Canada: A National Economic Outlook
  • Trending to the Future: What are Today’s Trends Telling Us?
  • Keynote Address: BC’s Place on the Global Economic Chessboard provided by Hon. Kevin Falcon, Minister of Finance and Deputy Premier
  • Sector Panel Discussion: Tourism, Natural Resources, Technology, Arts and Real Estate
  • Focusing Forward: Forecasting BC’s Global Economic Future

For registration info contact the Whistler Chanmer (604) 932-5922 Ext 24

https://www.whistlerchamber.com/component/option,com_dtregister/Itemid,760/eventId,532/task,event_register/type,reg_options/

Keep An Eye Out for…

Whistler Street Entertainment – Enjoy free all day entertainment throughout the Village. Animation and interactive entertainment by performers from the Sea-to-Sky Corridor and touring artists from across Canada this holiday weekend!

May 20 – 22: Nylon Zoo and the Ta Daa Lady at the Whistler Olympic Plaza / Mountain Square

May 20 – 22: LEGO “Build Together” Interactive Village at the Village Square

May 20 – 22: Music by Papa Josh & Helen Austin at the Whistler Town Plaza Gazebo

May 21 & 22: Music by the Bluesberries at the Village Square

May 22, 11 AM to 4 PM: All British Field Meet Car Show at the Whistler Olympic Plaza

Posted : Tue, May 17, 2011 5:43 pm

Market Report from the President of WREC

The real estate market in the first half of 2011 continues to build on the momentum established in the second half of 2010. Despite some continuing economic uncertainty worldwide, consumer confidence against our major target market continues to strengthen. Unit sales volume continues to be consistent for all types of real estate offered here and is slowly growing. Buyers do continue to focus on value for money and convenience. Family oriented townhomes, being the most popular purchase, are in high demand.

Prices continue to consolidate as the market adjusts to the new buyer preferences. The median value of homes currently sits at $992,000 with condominiums valued at $295,000 and townhomes at $605,000.

The number of properties for sale continues to provide an excellent selection for both investors and lifestyle purchasers. Prices are expected to remain at current levels as sales momentum continues to build for the remainder of 2011.

Astute buyers will act to today to take advantage of best-in-decade prices, low interest rates and a great selection of opportunities.

Posted : Thu, Mar 24, 2011 12:43 am

What a season!

This year has given us an amazing ski season. With 1,367cm (538 inches) so far this year ‘powder days’ have not been in short supply and there is no end in sight. I have the calluses on my hands from shovelling all the snow to prove it! The word on the street is that this season has been one of the best ski/snowboard seasons in recent memory and it seems like every day is “the best day ever” or “the most epic day ever”

Although the official start of spring has come and gone, the impressive snow base means that we will likely all be skiing/boarding well into May. This is a great time of year to be in Whistler. There is nothing better than being able to enjoy the sunshine on the slopes in the morning and a leisurely (or not so leisurely) bike ride on the Valley Trail in the afternoon. Although it will be a while yet before we can dust of our golf clubs or head out on the single-track trails, these glimmers of spring sure get the golf itch going. Another great thing about this time of the year is that it is spring break, which means I have lots time to spend with my family on the slopes and at the ice rink.

In terms of events, here are some things to look forward to:

  • Spaces are filling up for the first ever Whistler half Marathon so if you plan to participate you better lace up those runners and get out there! Don’t forget to register (www.whistlerhalfmarathon.com).
  • This Thursday (March 24th) is the Whistler Twestival supporting the Zero Ceiling Society (www.zeroceiling.org). It is taking place at the Whistler Brewing Company at 7:00pm. It will be good times for a good cause. You can still get tickets at www.whistler.twestival.com.
  • For music lovers, Alpha Yaya Diallo will be performing at Millennium Place at 8:00 on March 26th as part of the 2010/2011 Performance Series. For tickets and information, visit  www.artswhistler.com.

Make sure you find time to get out there and enjoy the amazing snow conditions and some of the events happening in town. I’ll see you out there!

Posted : Wed, Feb 2, 2011 6:40 pm

One Month Into 2011…

Hello All!

One month into 2011 and life is good!  With lots of snow on the hill and a few bluebird days you gotta make your way up here.  There is a lot going on around town for everyone to enjoy, below is some information for you to check into:

WinterPRIDE Gay & Lesbian Ski Week: Jan. 30 – Feb. 6, 2011

Whistler knows how to celebrate and celebrate diversity with the 19th annual Gay & Lesbian Ski/Snowboard week. Fantastic events both on and off the slopes. For more information go to: http://www.gaywhistler.com/winterpride2011.php

Appleton Rum Peak to Valley Race:
February 4-5, 2011

The Peak to Valley is a long standing and unique team race on Whistler Mountain. Teams of 4 (one member must be of the opposite sex) race a course which starts on the Whistler Saddle and finishes at Dusty’s. Two members race on Friday, two on Saturday. The start order is based on age, with the oldest competitors starting first. The Peak to Valley race has a vertical drop of 1,443 metres, with 180 gates and a course that’s over 5 km long.  For more info go to www.whistlerblackcomb.com

1-year Winter Games Anniversary:
February 11-13, 2011

Whistler is getting ready to celebrate the one-year anniversary during the Whistler Winter Arts Festival, February 11 to 13, 2011. Locals and visitors are invited to come out relive the magic and energy of the 2010 Winter Games. So mark the weekend of February 11, 2011 on your calendar as a time to celebrate Whistler’s success. Don’t forget to show your Canadian pride and wear your red and white, volunteer uniform or Captain Canada costumes.  For more info go to:
http://www.whistler.ca/index.php?option=com_content&task=view&id=1058

Morgan Exhibition: February 12, 2011

Angela Morgan’s impressionist style celebrates humanity with broad stokes and bold, bright colours. Her human figures express the poses of life, the jubilation of dance, the contemplation of parenthood and the joy of winter. Coloursfuse and meld to achieve gesture; transforming abstract images into living moments. Meet the artist, Saturday, Feb. 12, 5-8 pm. Adele Campbell Fine Art Gallery; Westin Resort and Spa; 1.888.938.0087

Whistler Super Demo Days: February 19-20

Can-ski and Showcase Demo Centre located outside the Roundhouse on Whistler Mountain Come Demo the latest Boards and Skis! All our top vendors will be present with additional gear and it’s always free to demo you just need ID and a credit card. Look for the vendor tents and flags outside the big white demo tent. For more info go to: http://www.whistlerblackcomb.com/stores/demo.htm

Winemaker Après Series:
February 23, 2011 – Osoyoos Larose and Nk’Mip Cellars

Winemaker Après Series At Steeps Grill & Wine Bar on Whistler Mountain
Come and sample the Steeps British Columbia inspired menu paired with wines from the best that B.C. has to offer.

Thursday, January 20 – Inniskillin Okanagan
Wednesday, February 23 – Osoyoos Larose and Nk’Mip Cellars
Wednesday, March 16 – Jackson Triggs Okanagan Estate
Wednesday, April 13 – See Ya Later Ranch

Tickets starting at $54.00*, available at 604.905.2379
All events begin at 2pm.

See ya on the Slopes!

Steve

Posted : Fri, Nov 26, 2010 10:13 pm

“Time is Now if you’re a buyer, says the Economist”

Recent reports are suggesting that the time might be right to purchase a home in British Columbia.

For those renters, who are readying themselves to make the leap into Home Ownership, but felt that economic factors were holding them back, the market may be ripe, and time to take the plunge. A recent report from the British Columbia Real Estate Association (BCREA) hints  that the balance of power has shifted to home buyers, with an increase in inventory propelling this shift. Says Cameron Muir, Chief Economist with the BCREA:  “Total active residential listings in the province have declined 18 per cent since June.

However, the housing market remains tilted in favour of homebuyers. BC home sales have posted moderate gains since the summer months,” Mr. Muir continues, “Consumer demand was bolstered by double-dip in mortgage interest rates and the associated increase in purchasing power. ”Magic words for anyone worried about taking on a mortgage payment, the normalization of both short-term and long-term interest rates will be deferred. So then, most BC households with variable rate mortgages will pay lower amounts than would have been anticipated at the beginning of the year. They are ready to share the wealth too.

New homebuyers or homeowners whose mortgages are coming up for renewal will be offered a second chance at securing rates at levels which have not been seen since the recessionary lows, which would assist new homebuyers ( and current ones too for that matter) in budgetary planning. The BCREA mortgage rate forecast suggests that they current low-rate situation will extend into 2011, when there is thought that there will be a new round of tightening by the Bank of Canada. When the economy returns a little more to normal, interest rates will climb again at a controlled pace. The forecast for a one-year fixed rate at the end of 2010 is around 3.20 % and will likely reach 4.05 % t by the end of 2011. The five-year fixed mortgage rate is forecasted to end 2010 at 5.35 % and to continue up to 6.10 % by the end of 2011.

So, with these low interest rates, that are expected to rise soon, and the good selection from a large inventory, conditions are currently pretty favourable to make the move to home ownership.

Posted : Fri, Nov 26, 2010 9:18 pm

Whistler is a Winter Wonderland

Whistler Village has been blanketed by 15cm of powder.  The Mountains received 20cm overnight to bring the base to over 100 cm.  There is plenty to check out this weekend around the village:

Whistler’s Original Artisan Market!
Located at the Whistler Conference Centre

Bizarre Bazaar has built a reputation of presenting unique, quality, hand-made art and crafts for Whistler residents and visitors looking for one-of-a-kind treasures. Featuring over 100 artisans from the Sea to Sky Corridor, Lower Mainland and beyond, the 22nd annual holiday craft fair will feature a wide array of ceramics, clothing, fine art, wood, glass, metal, jewelry, leather, candles and aromatherapy products as well as Christmas decorations. Attracting over 5,000 visitors in 2009, Bizarre Bazaar is a vibrant community event that includes live music, a silent auction, dance and food. November 26th & 27th

FIBT Bobsleigh and Skeleton World Cup

This Bobsleigh and Skeleton competition is the first at an Olympic Venue since the Vancouver 2010 Olympic and Paralympic Winter Games. Come cheer on the world’s Olympians and Canada’s medalists. Tickets are $10

And of course there are those two big Mountains that we are know for.  Both Whistler & Blackomb Mountains are open everyday 8:30-3:00.  Also be sure to hit up your favorate Apres spot for the best people watching in the village.

See ya on the slopes!

Steve

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