August 15/17 – Mike and Nikki’s August Newsletter
August Issue

Mike Morse

Hi Everyone,

We hope you are having an enjoyable summer!

You have most likely heard that on July 25, Petronas announced they would not be proceeding with their multi-billion project (Pacific Northwest LNG) on Lelu Island near Prince Rupert.

BREAKING: Petronas pulls out of northwest LNG project

To some, this was not a huge surprise.  For quite a while, there had been little talk on Pacific Northwest LNG’s progress.  In addition, the price for the product had decreased in the world market.  However, the reality of the announcement was still a disappointment for many.

Since that announcement, we have been asked, “How will this decision affect our real estate market?”.  The answer is – we don’t know, and it’s still too soon to tell.  Within the next few months we will see how the stats look and we’ll be able to determine what has happened.   We do know that after the announcement, there were no drastic changes or a “panic”.  We’re hopeful the impact will be minimal because there are other positive projects on the go, such as Alta Gas and Ray-Mont Logistics.  With the exception of the local office, LNG was not an existing industry that shut down, it was a proposed project.   In the meantime, on August 29 there is a grand opening for Phase Two of our container terminal.  We are definitely not overlooking the opportunities the Port brings to us.

Here are some articles that were published since our last newsletter, to keep you up-to-date:

Video: 10 Years On, Prince Rupert Celebrates with Expansion

$2.1 billion for transportation corridors

One, two, three cruise ships

As LNG projects stall, AltaGas signs propane export deal with Japanese firm

Petronas spent $900m to get to ‘no’ on $36b project

Enjoy the rest of your August!

Mike & Nikki Morse, REALTORS®

Mike Cell: 250.600.6620
Nikki Cell: 250.600.4650

RE/MAX Coast Mountains


July 2017 – Prince Rupert (& Area) Real Estate

We had 8 less sales in July than we had last year, but we are still up $2,503,880 in overall sales. The average sale price went up in July 1, which is positive. It’s been awhile since we’ve seen this happen.

SALES (all types):
# of sales in July 2016 – 27
# of sales in July 2017 – 19

YEAR-TO-DATE SALES (all types)
As of July 31, 2016 – 128
As of July 31, 2017 – 138

1 – Business
1 – Multi-family
1- Half-duplex
16 – Houses

As of July 31, 2016 – 180
As of July 31, 2017 – 190

As of July 31, 2016 – $ 272,485
As of July 31, 2017 – $ 284,683

As of July 31, 2016 – $ 34,490,220
As of July 31, 2017 – $ 36,994,100

The stats are based in whole or in part on information supplied by the BC Northern Real Estate Board for the period January 1, 2016 through July 31, 2017.

5 Common Colour Mistakes & How to Avoid Them

With so many to choose from, picking colours for your home’s interior can be difficult. All those choices also mean there are many ways to get it wrong.

There are certain common colour mistakes that crop up over and over again. To stop you from falling into those traps, here are the mistakes people make along with a strategy you can use to avoid them in your own home.

The mistake: Trying to combine too many colours.

How to avoid it: If you think you might have too much going on with your colour choices, simply start to remove some from the equation. Start by ditching the most complicated colours, the ones that are most difficult to harmonize with the others.

The mistake: Not factoring in your home’s lighting and space.

How to avoid it: Colours will look different depending on the space in which they are used. Both artificial and natural light will affect the colours you choose, as will the type of surface you paint them on. When testing colour swatches, make sure to check them at different times of day when the lighting is different. If the colours you initially honed in on aren’t working in the room, try relegating them to use as accent colours and use a solid neutral to control the flow around them.

The mistake: Neglecting neutrals.

How to avoid it: Neutral colours may not seem the most exciting, but good interior design hinges on them. It’s also important to remember that beige isn’t the only neutral. Anchor your bold, deep colours with neutrals such as white, cream, beige, or black.

The mistake: Using colours in the wrong proportions.

How to avoid it: A good way to keep things in proportion is to use the 60-30-10 rule. This means using one main colour for 60% of the decor, a secondary colour for 30% and a final, accent colour for the remaining 10%.

The mistake: Going all-in with colour trends

How to avoid it: Be careful with trends when decorating your home. Unless you want to redecorate each time a new trend comes along, give some thought to create a look that you will love for the foreseeable future.

Local Events

DP World Prince Rupert Fairview Terminal Phase II – Grand Opening
DP World Prince Rupert Terminal
August 29th, 12:30pm – 4:30pm
Prince Rupert Fire Truck Pull
237 Cow Bay Road
September 16th, 2pm – 5pm

This is not intended to solicit properties currently listed for sale or individuals currently under contract with a brokerage.