A century-old village located in the Rocky Mountains is currently listed for sale – something that worries a group trying to preserve its history.
Edelweiss Village, located in Golden, B.C., is home to six houses built more than 100 years ago.
A listing for the 50-acre property says the homes were constructed between 1910 and 1912 by the Canadian Pacific Railway. The Swiss-style chalets were erected on the land on what is now Ottoson Road to house Swiss mountain guides and their families.
According to the Re/Max realtors behind the listing, these guides were employed by CPR to bring wealthy tourists through the mountain passes, including popular stretches at Banff, Lake Louise and Rogers Pass.
“These incredibly unique buildings feature amazing woodwork, wooden staircases and views that are hard to beat from every window,” the listing boasts.
The homes have been upgraded to include modern heating, plumbing and electricity, and while carpet has been installed, realtors say the “original fir planking” is just waiting for restoration.
The main home on the property was built later, in the late 1970s. The property itself is full of “mature timber, gently slopes and benches.”
Signs proclaim the land as “Home of the Famous Swiss Guides,” and the listing includes archival photos of the homes perched on a hilltop, as well as shots of how they look now.
The potential sale of the property has some worried. A campaign to protect the historic site claims there’s “significant risk” of the village disappearing.
Those behind it hope to gather support from those in Canada and Switzerland, and to create a foundation to preserve the site. The initiators of the campaign are Swiss-Canadian author Ilona Spaar and Johann Roduit, a board member of the Swiss-Canadian Chamber of Commerce. Several advisors are also working on the campaign, including those associated with tourism in Golden.
They hope to make it a designated heritage site and a “world-class tourist destination,” with educational tours and even the opportunity to stay in one of the homes.
The site was the subject of a short documentary, and a Swiss team met with the mayor of Golden last month to discuss the future of the village. A segment aired on Swiss TV in January as well.
They’re worried if the property sells, the buyer might have plans that don’t include preserving the village’s history.
However, it doesn’t seem sale of the land is imminent. As of Wednesday, the listing has been up for 482 days, according to Realtor.ca.
TORONTO – One expert predicts Ottawa‘s changes to mortgage rules will help spur demand among potential homebuyers but says policies aimed at driving new supply are needed to address the “core issues” facing the market.
The federal government’s changes, set to come into force mid-December, include a higher price cap for insured mortgages to allow more people to qualify for a mortgage with less than a 20 per cent down payment.
The government will also expand its 30-year mortgage amortization to include first-time homebuyers buying any type of home, as well as anybody buying a newly built home.
CIBC Capital Markets deputy chief economist Benjamin Tal calls it a “significant” move likely to accelerate the recovery of the housing market, a process already underway as interest rates have begun to fall.
However, he says in a note that policymakers should aim to “prevent that from becoming too much of a good thing” through policies geared toward the supply side.
Tal says the main issue is the lack of supply available to respond to Canada’s rapidly increasing population, particularly in major cities.
This report by The Canadian Press was first published Sept. 17,2024.
OTTAWA – The Canadian Real Estate Association says the number of homes sold in August fell compared with a year ago as the market remained largely stuck in a holding pattern despite borrowing costs beginning to come down.
The association says the number of homes sold in August fell 2.1 per cent compared with the same month last year.
On a seasonally adjusted month-over-month basis, national home sales edged up 1.3 per cent from July.
CREA senior economist Shaun Cathcart says that with forecasts of lower interest rates throughout the rest of this year and into 2025, “it makes sense that prospective buyers might continue to hold off for improved affordability, especially since prices are still well behaved in most of the country.”
The national average sale price for August amounted to $649,100, a 0.1 per cent increase compared with a year earlier.
The number of newly listed properties was up 1.1 per cent month-over-month.
This report by The Canadian Press was first published Sept. 16, 2024.
MONTREAL – Two Quebec real estate brokers are facing fines and years-long suspensions for submitting bogus offers on homes to drive up prices during the COVID-19 pandemic.
Christine Girouard has been suspended for 14 years and her business partner, Jonathan Dauphinais-Fortin, has been suspended for nine years after Quebec’s authority of real estate brokerage found they used fake bids to get buyers to raise their offers.
Girouard is a well-known broker who previously starred on a Quebec reality show that follows top real estate agents in the province.
She is facing a fine of $50,000, while Dauphinais-Fortin has been fined $10,000.
The two brokers were suspended in May 2023 after La Presse published an article about their practices.
One buyer ended up paying $40,000 more than his initial offer in 2022 after Girouard and Dauphinais-Fortin concocted a second bid on the house he wanted to buy.
This report by The Canadian Press was first published Sept. 11, 2024.
