Tobiano Real Estate Update – July2021

sunset over mountains and lake

The Year Tobiano Sold Out

2021 will likely go down in history as the year that Tobiano real estate finally sold out. I am not sure who tracks this other than myself, but this is a big deal. Back in 2006, when I first joined the marketing team with Sotheby’s, we had about two years of tremendous sales as that was the lead up to the late 2008 real estate market crash. Once that crash happened, I was the only agent to stick it out at Tobiano and slowly watched our annual sales go from 5 units to 10 to 15 to 20+ per year. We sit at July 26th, 2021 and have already sold 77 properties since January 1st, 2021. Those sales have ranged from a $189,000 building lot to a $1.65 million home on the Bluff. Here is a recap of where the various real estate projects are at present; 

Summers Landing Development

The Summers Landing development located amongst the back 9 of the Tobiano Golf Course sold out the last phase of half-duplex homes and is now working on the next construction phase. These level entry walk-up homes will be around 1600sqft of living space and have nice big garages for all your truck and toy needs. They will also have ground floor patio’s that walk out towards the 12th green, complete appliance packages, vinyl plank flooring and some carpet, LED lighting throughout, BBQ hook-ups, EV charger plug in the garage and access to the Summer View Club House building.

The developer is presently working on the foundations for these, and we expect the lawyers to have the latest disclosure statement ready for pre-sales any week now. From a resale standpoint, I have sold a number of the initially built bottom row basement entry plans this summer. This tells me that some of the original owners that purchased back in 2008 are now making lifestyle changes and or investment changes and moving on.

To see the latest phase https://www.andrewkarpiak.com/SummersLandingTownhomes.ubr

Lake Star Development

The Lake Star development has also been a busy place these last few months, with 12 homes changing hands. The most expensive sale in Lake Star this summer was at $630,000.00. At this time, there are no listings available for sale in the development. 

Holloway Drive Lots

Holloway Dr lots – This spring, I sold the last remaining bluff view lot that hasn’t been built on yet for $415,000.00. I also sold two additional lots located just above the Lake Star development and have a 3rd available for sale now. Pretty soon, all the lot’s along Holloway will be built out with homes. We also saw two spec built homes sell along Holloway Dr for $889,000.00 and $920,000.00, respectively, which is a good sign for those builder’s looking to build and sell spec product within Tobiano. 

Ranchland Phases 1-2-3

Ranchland phase’s 1-2-3 – have seen almost all of their lot’s sell out. I believe there was just one lot left in the Ranchlands phase 3 release. There have been some great resales of lots along the 4th fairway of the Tobiano golf course, with the latest sale fetching $432,500.00. This particular lot has spectacular views of the golf course, hoodoos and lake in the distance and will make for a great building lot. The best lot in the entire Tobiano development to still not have a home on it sold twice this spring, once for $461,000.00 and again for $550,000.00. 

Fairway Homes Development

Fairway Homes Development – has seen steady progress on building out of their 21 homes, with the last one scheduled to be finished this winter. There remain a handful of homes left for sale in this project, starting at $737,700.00. This price puts a new buyer just under the PTT New Buyer’s grant limit, which means they do not have to pay the PTT tax. These homes are fully finished up and down and home some great layouts for those looking to downsize but not give up too much square footage. 

Tobiano Golf Course

With all the forest fires surrounding the Kamloops Lake area, it’s been a less than stellar year for the Tobiano Golf course, but they are prevailing nonetheless. There is word coming out of the golf course owner that they are in the design phase of expanding the Black Iron kitchen and potentially expanding the pro-shop side of the building. More to come on this in the coming months. From a golf operations standpoint, the course has new carts as of last summer that has all the GPS bells and whistles but also has built-in Bluetooth speakers. 

This article originally appeared on Kamloopsliving.com.

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