Campbell River

So, let’s talk about Campbell River, British Columbia—a place that’s quietly carving out its own space on Vancouver Island. It’s not just another coastal town; it’s a community with a rugged charm and a real estate market that’s got some unique angles worth exploring. At Tekamar Mortgage Fund, we’re all about lending where others won’t, and Campbell River fits right into our sweet spot with its blend of lifestyle appeal and solid equity potential.

First off, what makes Campbell River stand out? Often dubbed the “Salmon Capital of the World,” this town of about 35,000 is a haven for outdoor enthusiasts. Think world-class fishing, marine tours out to spot orcas, and hiking trails that make you forget the daily grind. Places like Elk Falls Provincial Park, with its roaring waterfall and suspension bridge, are local gems that draw people in—many of whom are retirees or near-retirees looking to park their equity in a quieter, nature-rich spot. For borrowers, this means properties here often hold value thanks to steady demand from lifestyle buyers. And for brokers, it’s a heads-up that we’re open to deals in this market with a max loan-to-value (LTV) of 65%, provided the numbers make sense for a safe exit.

Now, let’s get into the housing scene. Single-detached homes dominate at over 60% of the market, which tells you this isn’t a high-density, urban crunch. It’s a small-town vibe with room to breathe—perfect for folks who’ve built equity elsewhere and want to downsize without sacrificing quality of life. But here’s a nugget for mortgage pros: while the resale market is decent due to that retiree appeal, you’ve got to watch for economic wobbles. Campbell River leans on industries like forestry and fishing, which can be volatile. Pair that with an unemployment rate nudging 8.7%, and it’s clear why we cap our LTV at 65%—we’re protecting our investors (all friends and family, by the way) while still saying “yes” where banks and credit unions often say “no.” Borrowers, if your income or credit doesn’t quite pass muster with traditional lenders, talk to your broker about how our equity lending focus could work for you.

Another angle? The climate. Campbell River boasts a warm, coastal growing season—think Zone 8a for the gardeners out there—which isn’t just nice for planting flowers. It’s a draw for people wanting year-round outdoor living, boosting property desirability. That’s a plus when we assess how fast a property might sell if things go sideways. For brokers submitting deals, remember we’re laser-focused on a clear exit strategy—can this borrower refinance down the road to pay us out? For borrowers, that means we’re not just looking at today’s numbers; we’re thinking about your tomorrow.

Look, Campbell River isn’t perfect. Economic diversity isn’t its strongest suit, and resource-based jobs can be a rollercoaster. But the lifestyle pull, especially for equity-rich buyers, keeps the real estate market humming at a steady pace. At Tekamar, we’re not scared off by smaller towns—heck, our tagline is “Your MIC for towns without stoplights.” So, whether you’re a broker with a deal that’s been turned down elsewhere or a borrower needing a creative solution, give us a shout. Campbell River’s on our map, and we’re ready to talk.