Market Value of a Property
As a buyer, you want to be sure that your property purchase will be a wise investment. That is why it is important to have an experienced Shuswap realtor help you through the process of finding a home, evaluating properties and working through the many details involved in completing your sale.
The Shuswap region is a spectacularly beautiful part of BC with boundless outdoor recreation opportunities for all seasons. The area is nestled into the traditional unceded territory of the Secwepemc peoples & boasts an abundance of lakes, rivers, trails, glaciers, mountains, beaches, forests, waterfalls, wildlife and provincial and national parks. It is a region of pristine wilderness where the air is clean & there are no traffic jams!
With the exception of shuswap realtors & the area surrounding the lake, the majority of communities in the Shuswap are small, family-oriented, friendly & safe. We have a high level of community spirit & participation, with residents helping each other in many ways – from volunteering to run local events & programs, to raising funds for projects and scholarships, to donating time to the numerous non-profit organizations that make up the fabric of our society here in the Shuswap region.
How Do You Determine the Market Value of a Property in the Shuswap Region?
Located in the southeastern corner of British Columbia, the Columbia-Shuswap Regional District encompasses the interior of the province from Kamloops to Revelstoke in parts of the Thompson, Okanagan, and Columbia River drainages. It has 760 named mountains and a population of just over 50,000.
Although the Shuswap were never warring as an organized group, individual bands did battle with other tribes and they developed a social class system with nobles, commoners, and slaves. They lived on reserves which were synonymous with their geographic units and hunted, fished, and trapped for food. The Shuswap grew to be more sedentary than groups to the south and spent much of their time in semisubterranean earthlodges.
In the past, the Shuswap were a trading culture. They dealt with a variety of traders, including the Hudson’s Bay Company. After the 1860s, they became decimated by epidemics brought on by gold miners and settlers flooding into their territory. Today, the Shuswap are mostly a fishing, hunting, and trapping nation that has retained a strong connection to their ancestral land.
Every year, property owners receive notice from BC Assessment about what their homes are worth on July 1 of that year. The values can vary from one year to the next because market forces are always changing. A home’s market value is also influenced by the number of similar properties in the neighbourhood and the surrounding area. The most significant factor in determining the market value of a property is the real estate market itself. If market conditions are strong, the values of a property may rise significantly from one year to another. That is why it is important to have a professional appraiser or real estate broker evaluate your property annually to make sure that your market value is accurate and up-to-date.
