Subdivision lots priced as high as $124,753

It was all about the luck of the draw.

It was all about the luck of the draw.

Today’s lottery for the last 71 country residential lots in the Whitehorse Copper subdivision went on for most of the morning, with a total of all 153 names drawn before 68 of the 71 Yukon government lots were spoken for.

For some of the 153 applicants, success came quickly.

Bret Heebink was of among 20 or so applicants at the Elijah Smith Building when the draw began at 9 a.m. Minutes later, Heebink’s name was drawn, in the fifth spot.

Though his first two lot selections had already been taken - lots 54 and 55, everybody’s favourites - Heebink still came away with his third choice, lot 76, or the knoll, as he describes it.

Heebink said lot 54 and 55 were the lots with a nice view and a layout favourable for different construction options.

“I wanted lot 54; it was the nicest lot by far,“ he said. “I have the knoll.“

A private contractor by trade, Heebink said it will be a challenge to bring a driveway right up to where the house would sit. It could make it difficult bringing construction materials to the site, and groceries in the future.

But it’s the only lot with a full 360-degree view.

Heebink joked his wife threatened to divorce him if he went with lot 76, so they’ll be giving it some careful consideration in the two weeks when they have to confirm whether they wish to proceed with the purchase.

With a lot cost of just over $100,000, the contractor suspects the total cost of a new home will run between $400,000 and $500,000.

Lot prices and sizes ranged from $81,009 for 1.06 hectares, to a high of $124,753 for 1.9 hectares.

Those entering into agreements for sale in the next two weeks are required to come up with a 20 per cent downpayment, the five per cent GST and $1,250 in development charges to the city. In the case of the four lots priced at $106,329, the total upfront payment required would be $27,832, according to Yukon government figures.

John Cole, manager of client services for the lands branch, took more than two hours to draw all 153 applicants this morning, with all but the three lots being selected.

The first name drawn, Katherine Tenney, obviously got the lot of her choice - lot 54.

The second name drawn, Rona Aasman, took lot 55.

Under the lottery system, applicants can identify as many lots as are available in order of preference. Some identified only one lot, and if it wasn’t available if and when their name was drawn, they weren’t interested.

Some identified 10 or more.

And it was all in the luck of the draw.

The 46th name drawn, for instance, didn’t get lot 54 or 55, and they didn’t get their third choice either. But they did get their fourth choice.

The very next name drawn, however, got their 10th choice.

Lottery winners have two weeks to turn back the lots, though they lose their $300 deposit.

Those who were unsuccessful in today’s draw had the option of going onto an eligibility list for lots which are turned back, and many applicants indicated they wanted to be on that list. In fact, there are 73 on the eligibility list.

Cole said the lands branch will wait to see how many lots are turned back, before it decides what to do with the three lots left over.

It may be, he said, that there will be enough lots turned back, and not taken by those on the eligibility list, to warrant another lottery.

Heebink said it will be interesting to see how many lots do get turned back, particularly by those whose hopes were pinned on 54 and 55, but who identified other choices just in case.

Terry Bergen, president of the Yukon Real Estate Association, suspects that one way or the other, the market has seen the last of the available lots until 2010, at the earliest.

Even if some Whitehorse Copper lots come back to the land branch, he doesn’t expect they’ll be around for long.

He said realtors have always maintained a healthy inventory of available lots is required to keep the price of housing down.

As of today, there are no country residential lots or urban lots available for sale in Whitehorse market.

“This is a situation we did not want to see happen,“ he said. “The other problem we are faced with is we will not have any lots available next spring.“

Bergen said the city is pushing ahead with expansion to the Arkell subdivision, though he doubts it will be ready before 2010.

With economic conditions the way they are, today’s housing market is down about 10 per cent from where it was in June, but still 10 per cent above where it was a year ago, he pointed out.

He said with no inventory of lots, and a strong demand, housing prices are now likely to stay where they are or increase.

Bergen said the number of applications received for this morning’s lottery seems to indicate there is still a lot of confidence in Whitehorse despite the economic times of today.

The Yukon, he pointed out, is tied to the world economy through its mining industry and the commodity market, and through the tourism industry and its dependence on world travellers.

“But it seems there is a lot of confidence in Whitehorse, to have that many applications for properties.“

Steve Mooney appeared confident this morning. He didn’t get lots 54 or 55, but as the sixth name drawn, he was happy getting his third selection, lot 56 and its southwest view overlooking Mount Sima and Golden Horn.

“I’ll spend the winter designing, and look at cutting down trees next spring,“ said a smiling Mooney.