-=> Quoting Steven Horn to Jim Weller <=-

 JW> We hit a new mile stone last week; a house sold for over $500,000
 JW> (110 Niven Drive) for the first time.

 SH> Gawd.  Our upper limit seems to stick at $350,000 although there are
 SH> houses which should be worth more than that.

Our market is really hot up to $300,000 and homes are selling over list
price in a week or less, over appraisal and close to brand new
replacement costs. But over $300,000 sales are slow and rarely come up
to appraisal. That home I mentioned the other day was just one year old,
and appraised at $600,000 replacement cost but sold for $548,000. Now
that a psychological barrier has been broken perhaps future homes will
go for closer to their true value.

 SH> Is there enough land available now.  That was an issue when I worked
 SH> in Land Titles.

We have the land. But it is rocky, hilly and expensive to develop. Do
you remember Niven Lake behind the Explorer Hotel? That's the area we
are building in now. It was passed over in the seventies when Frame Lake
South opened up, as being too rugged a terrain.



Cheers,

YK Jim

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