Trail Daily Times, August 31, 2012

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FRIDAY

S I N C E

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AUGUST 31, 2012 Vol. 117, Issue 169

Trail High School remembered

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$

10

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INCLUDING H.S.T.

PROUDLY SERVING THE COMMUNITIES OF

SOFFIT SLICE

ROSSLAND, WARFIELD, TRAIL, MONTROSE, FRUITVALE & SALM SALMO

Trail thriving in latest real estate market figures BY TIMOTHY SCHAFER Times Staff

TIMOTHY SCHAFER PHOTO

After the insulation was sprayed on the underbelly beams of the roof of the Trail Aquatic Centre, TKI—the general contractor for the centre’s renovation—had carpenter Carey Snider cut and install the soffits on the exterior of the building.

Teck plume still a problem BY TIMOTHY SCHAFER Times Staff

Close but no cigar. The smoke continues to billow from Teck Trail Operations’ gas handling process as the mineral giant continues to address the visible plume from the main zinc stack. Richard Deane, Teck manager of environment health and safety and public affairs, said work crews have completed a number of adjustments which have improved the perform-

ance of the stack but did not fully rectify the issue. “Teck is committed to a high level of environmental performance and we are currently carrying out additional work to further improve the zinc stack plume emissions.� Deane was quick to point out that metal levels from the zinc stack “have not increased and we remain well within our permit levels for both metals and particulate.�

See PLUME, Page 3

A stable local economy has buoyed the city’s real estate market despite the continued downward shift in unit sales and prices across the Kootenays, says a local agent. Deanne Lockhart of Century 21 marked the strength and solidity of the city’s major employers—Teck Trail Operations and Interior Health Authority—as insulators against a market drop out now gripping the East and West Kootenay. Trail literally remains an island in 2012 with an $8,278 rise in average sales prices across the board— according to figures recently released by the Kootenay Real Estate Board (KREB). Only four other West Kootenay communities (out of 15) recorded marginal rises in average sales prices: Castlegar, Nakusp, Warfield and Salmo. Lockhart said the city was doing “pretty wellâ€? with Teck continually hiring lots of people, and those people then looking for places to live. “Our market doesn’t fluctuate like a lot of the other markets do,â€? she explained. “We do see some fluctuation but not to the degree like other areas ‌ because we have some excellent employers.â€? The average sale price of a single-family detached home, also called a single-detached dwelling or separate house, in Trail in 2012

rose from $159,720 in 2011 to $167,998—a five per cent increase. The jump was greater in the rural region around Trail, with the average sale price of a detached home rising from $223,666 to $263,833 in 2012. It was also the same in Warfield where the average rose from $201,861 to $228,000. Redstone Resort co-owner Cary Fisher said the increase was indicative of what was happening in the area, resulting in a demand for real estate.

“Our market doesn’t fluctuate like a lot of the other markets do.� DEANNE LOCKHART

He pointed to more people retiring now from Teck—and at a higher rate than the B.C. average—and consequently more people being hired. “To go along with that our housing stock is very old compared to the B.C. average and remains very affordable,� he said. “I am not saying we are looking at a massive boom, but I am saying supply at some point very shortly will have a hard time meeting demand.� However, average sale prices in 2012 dropped in Fruitvale ($225,211 from $266,437) and Rossland ($249,033 from $280,320).

Average sale price Castlegar - detached Castlegar rural - detached Fruitvale - detached Grand Forks - detached Grand Forks rural - detached Greenwood - detached Kaslo - detached Nakusp - detached Nelson - detached Nelson rural - detached Rossland - detached Salmo - detached Trail - detached Trail rural - detached Warfield - detached

The bottom has dropped out of the rest of the West Kootenay real estate market to date in 2012, making it the slowest in 20 years for units sold (1,071) and units listed (4,530) since the data was first recorded in 1993—with sales limping along at a 24 per cent sales rate. Contrast that to Trail. In 2012 almost 50 per cent of all units listed in Trail (87 sold, 177 listed) were snapped up—a rise from 32 per cent in 2011—out performing the Kootenays’ nearest hot market of Castlegar where 45 per of all units sold (83 sold, 183 listed). In fact, the real estate market has been heating up with the weather in the Silver City in June, with sales moving along at a clip of over 70 per cent with 19 units sold out of 26 listed, compared to 35 per cent (15 sold, 43 listed) in 2011. The news is not so rosy in other Kootenay locales. Some real estate markets are wallowing in decline in 2012 like Nelson, lagging behind at 31 per cent (65 sold, 212 listed) and Grand Forks sluggishly bringing up the rear at 18

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2012 $275,225 $281,492 $225,211 $187,958 $175,250 $93,700 $278,250 $216,000 $335,192 $314,150 $249,033 $154,300 $167,998 $263,833 $228,000

2011 $266,352 $267,563 $266,437 $189,444 $352,944 $105,500 $326,250 $175,000 $340,514 $335,464 $280,320 $122,500 $159,720 $223,666 $201,861

per cent (20 sold, 110 listed). Cranbrook led the East Kootenay with a 37 per cent (143 sold, 384 listed) sales rate, while Fernie followed at 31 per cent (42 sold, 137 listed), Invermere at 27 per cent (30 sold, 112 listed), Kimberley at 26 per cent (57 sold, 226 listed), Contrary to common perception, however, not all of the homes selling in Trail are on the low end of the price scale. In fact, Lockhart said there isn’t a lot of the low-end stuff moving. Instead, mid-range priced homes are currently the most active sellers and the most attractive to prospective buyers. “If you look at what it costs to renovate a house, if you can buy one that is already done—and there is a pretty good selection out there—that’s what people prefer to do,� she said.

See LOW, Page 3

No Paper

There will no paper Monday, Sept 3rd to allow for Labour Day. Publication will resume Tuesday.

Contact the Times: Phone: 250-368-8551 Fax: 250-368-8550 Newsroom: 250-364-1242 Canada Post, Contract number 42068012


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