Clare Ogilvie
Province
CREDIT: Bonny Makarewicz, for The Province Sales agent Tracy Collingridge shows off view from Intrawest’s At Nature’s Door.
WHISTLER — Winning the 2010 Winter Olympics is already having an impact on real estate here.
Phones that have been quiet recently as buyers waited to find out who would host the Games are suddenly ringing again.
“We have had quite a few quiet months but the day after [we won] the Olympics we noticed our telephones ringing a lot more,” said real-estate agent Maggi Thornhill of Windermere Sea to Sky Real Estate.
But Thornhill said it is unlikely that prices will go up now because there are already quite a number of properties on the market.
Intrawest’s time-share property At Nature’s Door looks on to the Dave Murray ski run on Whistler, the site of the Olympic downhill.
“A lot of people are selecting [the period] that is going to give you the pick for the Olympic year for the Olympic week,” said Intrawest marketing director Ross McCredie.
“A lot . . . have already been sold.”
A one-tenth time-share has risen in price from $284,900 to $314,000 since the first phase of the deluxe homes went on sale last year.
Realtors are predicting more sales in Whistler, Pemberton and Squamish.
“I think we may find some people who want to sell their homes because the decision has been made,” said Michael d’Artois of Remax.
“I think they’ll find there will not be a change in values as a result of this but the increased interest will certainly bring more buyers into the market.
“And the timing is right as it is at the beginning of the busy season between July and December.
“This will spark a little more interest.”
Tenants are worried that Whistler’s winning the contest to host the Games will encourage landlords to put up rents.
“I am concerned because there are a few landlords out there who honestly believe the opportunity is there to basically just pillage any tenants that they have,” said Chris
Quinlan, a tenant and owner of local coffee house Behind the Grind.
He said the Whistler Chamber of Commerce and other organizations are working to educate landlords to combat this type of problem.
Vancouver‘s Larco Investments Ltd. manages several village properties.
“We anticipate the Olympics will strengthen the market,” said Larco’s Jonathan Lazar.
“We will stay competitive with our rates.”
He said concerns over tenants being kicked out are unfounded.
© Copyright 2003 The Province