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Awash in oil wealth, Albertans snapping up B.C. properties

Derrick Penner, National Post,  May 17, 2006

Oil-rich Albertans love British Columbia’s waterfront cabins, ski chalets and resort condominiums.

Albertans were the biggest out-of-province buyers of B.C. real estate in 2005, snapping up 2.4% of all properties sold and helping push up property values in prime locations.

Data compiled by the research firm Landcor Data Corporation show that Albertans bought 4,320 properties, including 1.329 single-family homes, 

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Albertans drive up real estate prices

Derrick Penner, Vancouver Sun,  May 17, 2006

Albertans love British Columbia’s waterfront cabins, ski chalets and resort condominiums.

And with oil wealth filling their coffers, our neighbours went on a real estate shopping spree in 2005, snapping up 4,320 B.C. properties worth almost $1.2 billion, making them the biggest out-of-province influence on many markets.

The real estate research firm Landcor compiled the data on who is buying in B.C.,

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Already pricey homes leap in assessed value

Derrick Penner, Vancouver Sun,  January 5, 2006

When you can afford to buy a house along the waterfront in West Vancouver, or in the tonier parts of Vancouver’s Shaughnessy, or Whistler, you are rich.

Some of the people who already live in these areas are a little richer now, on paper at least, as the assessed value of their homes climbed by between 6.84 per cent and as much as 32.27 per cent during 2005.

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Whister bucks B.C. trend of rising house, condo values

Chad Skeleton, Vancouver Sun,  January 4, 2006

Whistler homeowners saw the average value of their homes drop last year — making it one of the few places in the province to see property values decline in 2005, according to figures released by BC Assessment Tuesday.

An analysis of assessment figures by Landcor Data Corp. indicates the average single-family home in B.C. increased in value by 18.8 per cent over the past year,

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Vander Zalm selling quiet retreat to top bidder

Derrick Penner, Vancouver Sun,  December 6. 2005

Former premier Bill Vander Zalm owns a lakefront acreage near 100 Mile House that boasts peace and quiet, water views, forest shade and riding trails. Thursday, he’ll hand it over to the highest bidder.

Vander Zalm, in an interview, said he took over the 34-hectare parcel on Tatton Lake, north of 100 Mile House, in the late 1970s as partial payment for a business deal,

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Here, There and Nowhere

Timothy Taylor, Enroute Magazine, October 2005

The curling rink in the abandoned mining town of Kitsault, uninhabited for almost a quarter-century now, offers a very particular variety of isolation, of aloneness. An hour north of Prince Rupert by air, up the tendril end of Alice Arm, there is manifestly nobody around. Here inside, the Maple Leaf Pub is dark. In through the lobby, pas the “Sunny Kitsault 2nd Annual Mixed Bonspiel” sign,

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Rediscovering the Thompson

Peter Mitham, Western Investor– September 2005

A quiet night on the Thompson River after several trips back and forth to Kamloops clinched Toronto developer Ted Snider’s decision to make the move to B.C.’s Interior.

“I would leave Kamloops and I’d be sitting on the flight back to Toronto and I noticed I was really relaxed,” said Snider, who was born and raised in Toronto and never thought he would consider living anywhere else.

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Ghost town eyed as upscale retreat

Paul Harris, Western Investor, July, 2005

A business plan is taking shape to transform a B.C. mining ghost town into a magnet for corporate retreats and ecotourism.
Kitsault in northwestern B.C. was recently purchased for a reported $7 million in cash by Indian-born entrepreneur Krish Suthanthiran. The deal includes approximately 90 houses and duplexes, seven apartment buildings, an equipped hospital, a large works yard, a local dock, a 22,000 square foot shopping centre and two recreation centres.

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Angels increasingly active in B.C. property market

Peter Mitham, Business in Vancouver, June 21-27, 2005

Some consider them the lenders of last resort, other the drivers of the current real estate boom.

But regardless of who you speak to, the angel investors are active in B.C.’s property market are a low-key lot who would rather keep quiet about their dealings.

Angel real estate investors, like the angel financiers to whom the startups of the information economy turned to in the late 1990s are typically experienced hands in the market with cash to invest in the next new project with promise.

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Paradise is Pricey All Over Province

CanWest News Services, Victoria Times Colonist, June 16, 2005

Vancouver Island residents looking for recreational property are quickly becoming aware of the cost of a piece of paradise. But it’s no different across the province, where costs are soaring as well.

“Today is the hottest recreational market it 40 years,” says Rudy Nielsen, the fit 64-year-old founder of Niho Land & Cattle Co, Ltd., a recreational firm specializing in B.C.

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