Nanaimo, BC Real Estate News

By Lynn Donn, Homes for Sale in Nanaimo BC
(Royal Lepage Nanaimo Realty)
Fast Facts about Doing Business in NanaimoLike all cities in BC, Nanaimo has gone through its share of economic changes. What started out as a coal town in the mid-1800s has grown into a mostly service-based economy with a skilled local workforce. If you’re an entrepreneur, retailer, service professional, or home-based business, the time for starting or growing your Nanaimo business has never been better. There are approximately 5500 businesses operating in the city of Nanaimo 25% of businesses produce goods, while 75% offer services About 68% of Nanaimo’s business are locally owned and operated Most local Nanaimo businesses have less than 20 employees Home-based businesses account for 38% of new businesses Construction is the number one new business in Nanaimo (25%), followed by Retail...
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By Lynn Donn, Homes for Sale in Nanaimo BC
(Royal Lepage Nanaimo Realty)
Getting to NanaimoBy Ferry The BC Ferry Service runs daily sailings between Nanaimo and the mainland from two different terminals. Take your car or walk on for a comfortable, modern, mini-cruise. There’s buffet and self-serve food service, arcade, kids play areas, Internet access, gift shop, plus fantastic scenery right outside to keep you occupied. Arrive at least 45 minutes (minimum) ahead of time. Ticket sales stop 20 minutes prior to sailing. Reservations are recommended in the summer and holiday weekends. Horseshoe Bay, West Vancouver to Departure Bay, Nanaimo (1 hour 40 minutes) Tsawwassen to Duke Point, Nanaimo (2 hours) By Air Getting to Nanaimo by air is one of the best kept travellers’ secrets. Seaplane service between downtown Vancouver and Nanaimo Harbour takes about twenty ...
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By Lynn Donn, Homes for Sale in Nanaimo BC
(Royal Lepage Nanaimo Realty)
A Brief History of NanaimoIf you are thinking of relocating to Nanaimo, you’re in good company. Nanaimo has been inhabited for thousands of years, first by the Coast Salish people and then by European explorers and settlers beginning in the late eighteenth century. By 1850s, Nanaimo was a lively trading post for the Hudson’s Bay Company. The Nanaimo Bastion, all that remains of the fort built by the company, still commands an impressive view of the harbour and islands from its downtown lookout. Nanaimo Mining Life What really put the growing town on the map was the lure of coal from the mines founded by Robert Dunsmuir. Even when lumber, pulp and paper eventually took over in the early twentieth century, the impact of mining life continued to shape the area. In fact, Nanaimo coal mines ...
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By Lynn Donn, Homes for Sale in Nanaimo BC
(Royal Lepage Nanaimo Realty)
Here's how to keep your hanging baskets blooming all summer long Summer is my favorite time of the year in Nanaimo.  One of the things I love most about summer, are the flowers.  I love to garden and as a result I have bright, colourful annuals blooming in pots and baskets on our deck and throughout the garden. Through trial and error and through asking many questions at the local nurseries, I have learnt how to keep these baskets and planters blooming all season long. Here's what I have learnt: Fertilize: I fertilize my baskets every time I water or at least every second watering.  That is probably excessive, but it seems to work for me.  I use a soluble fertilizer for flowering plants.  The way to tell if you have the right fertilizer is to check the numbers on the container.  The mid...
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By Lynn Donn, Homes for Sale in Nanaimo BC
(Royal Lepage Nanaimo Realty)
Nanaimo real estate statistics-May 2013 The real estate market in Nanaimo is definitely improving.  May was the second month in a row where we saw an increase in sales of single family homes.  In fact, in May 2013 we also saw the average single family home price rise 2% over May 2012. Here is a review of real estate in Nanaimo for the month of May 2013  Nanaimo real estate statistics for single family homes The average sale price was $357,443 in May 2013 compared to $349,554 in May 2012. The following are the single family market changes for May 2013 compared with May 2012 -  There were 239 units listed this May compared to 254 units in May 2012. – Down by 6% -  There were 122 units sold this May compared to 109 sold in May 2012 – Up by 12% -  The average sale price per unit for May 201...
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By Lynn Donn, Homes for Sale in Nanaimo BC
(Royal Lepage Nanaimo Realty)
Real Estate in Nanaimo - Absorption rates for May 2013 I spent some time with my calculator calculating the real estate in Nanaimo absorption rates as of the end of May 2013.  My numbers came from the latest real estate stats published by VIREB (Vancouver Island Real Estate Board).  Based on the information they have supplied I have calculated the absorption rates for real estate here in Nanaimo. This information helps me understand the real estate market in Nanaimo and where it is headed. The definition of absorption rates is the number of weeks it takes to sell the current real estate inventory in Nanaimo at the present rate of sales. The May 2013 absorption rate is lower than it was in May 2012.  In other words it is taking less time to absorb (or sale) the entire inventory currently...
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By Lynn Donn, Homes for Sale in Nanaimo BC
(Royal Lepage Nanaimo Realty)
About Nanaimo—City with a  Small Town FeelFrom humble beginnings as a coal town, Nanaimo today is home to a varied and growing population. As Vancouver Island’s second largest city, Nanaimo boasts 84,000  people—but it’s a city that I like to say feels like the mainland without all the crowds and traffic. Coming to live in Nanaimo is to leave the rush behind.And the word is out! Here’s why: Most newcomers to Nanaimo are between 40 and 59, either working families with teenagers or empty nesters Second highest group of newcomers is between 20 and 39 Average income for Nanaimo residents in 2008 was $37,656.48 Average house price in 2012 was $350,000 Population growth expected to continue at 1.7% per year 1 in 10 residents speak a language other than English or French Increasingly educated ...
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By Lynn Donn, Homes for Sale in Nanaimo BC
(Royal Lepage Nanaimo Realty)
Quick Facts About Nanaimo Ask me about Nanaimo and I’ll say that we’ve got something for everyone; water views everywhere you turn, one of the mildest climates in all of Canada, and affordable house prices.If you’ve got another thirty seconds, read on for a fast rundown of fabulous Nanaimo facts:Size and Location Centrally located on the east coast of Vancouver Island, 114 km (68 miles) North of Victoria and 55 km (34 miles) by boat from Vancouver Population 84,000 and the second largest city on Vancouver Island Weather and Climate Winter temperatures rarely below freezing Average daily summer temperature 24 C (75 F) Called by Environment Canada one of the comfiest climates in all of Canada Getting Here By ferry, two routes from the mainland: Horseshoe Bay,West Vancouver, to Departure B...
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By Lynn Donn, Homes for Sale in Nanaimo BC
(Royal Lepage Nanaimo Realty)
  Top 13 things to replace or repair before listing your Nanaimo home   It stands to reason that Nanaimo homes for sale that have had issues repaired are more attractive to potential buyers than properties that still need repairs.  Unless a buyer is looking for a fixer-upper people prefer to purchase a home that is move-in ready.   According to the Real Estate Staging Association the top 13 items to repair or replace before putting your house on the market are as follows:       Item                                  Replace   Repair Worn Carpets X   Broken Light Switches X   Loose door knobs   X Leaky Faucets X X Running Toilets X X Sticky Locks X X Slow Drains X   Cracks & Holes in walls X X Broken screen doors X   Clogged shower heads   X Ripped window screens X   Sticky windows   X Ca...
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By Douglas Belcher, RE/MAX, Nanaimo ABR ePRO SRES
(RE/MAX of Nanaimo)
I will be doing 2 open houses Sunday May 12 1 pm -2 pm 208 Howard Ave Renovated home with under height basement. New roof, new furnace, new h/w tank, new windows. This home is near schools and has lane access in back.   2-3 pm 1570 Townsite Road New 5 bedroom home with a legal suite and a nice back yard.  
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By Douglas Belcher, RE/MAX, Nanaimo ABR ePRO SRES
(RE/MAX of Nanaimo)
April was the busiest month for sales of single family homes in 2 years. Inversely the single family home price is also at it's lowest in 2 years. The average sale price of a home in Nanaimo is now $334,486. The number of active single family home listings was 578 which is down from the last 2 years. Patio home sales also did very well up 300% (13 versus 3 last year). Condo sales however was down-37%. 17 condos sold in April with 207 listed. Lot sales was also down 25% with just 3 sales. For more information about Nanaimo real estate statistics
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By Lynn Donn, Homes for Sale in Nanaimo BC
(Royal Lepage Nanaimo Realty)
Nanaimo Offers Residents an Unparalleled Outdoor Experience!     What better time could there be than right now in Nanaimo British Columbia?  Spring is in full swing, people are outdoors again and when the sun shines in Nanaimo, the rest of the world seems somehow dim! Vancouver Island has that effect on people, especially the nearly 84,000 Canadians who call this lovely city home! No matter what brings you to Nanaimo, what will keep you here is the eclectic mix of nature, architecture and diverse cultures that combine to make this island paradise something unique in  Canada.   Here you can spend the day on the water and then spend a relaxing dinner in one of many restaurants  available in Nanaimo.   Even arriving in Nanaimo is an adventure. Connected to Vancouver by the Horseshoe Bay B...
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By Lynn Donn, Homes for Sale in Nanaimo BC
(Royal Lepage Nanaimo Realty)
State of the Nanaimo real estate market for spring 2013 It’s early May and we are enjoying a lovely, warm spring here in Nanaimo. I’ve spent some time reviewing local real estate statistics for the month of April 2013 as compared to April 2012.   The market is interesting to say the least.  Absorption rates are showing us that the market has swung back to being a balanced market bordering on a seller’s market.   April was a very busy month!  If you have been driving around Nanaimo over the past few weeks you may have noticed red and white SOLD signs all over the city.  Business has been brisk.   I have compiled a little snapshot of stats below to show you what I mean by the Nanaimo real estate market being interesting.   Nanaimo real estate market at the end of April 2013 as compared to...
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By Lynn Donn, Homes for Sale in Nanaimo BC
(Royal Lepage Nanaimo Realty)
Real Estate in Nanaimo - Absorption rates for April 2013 The question I am most frequently, as a Nanaimo Realtor is “How’s the market in Nanaimo?”.  The best way to understand how the local real estate market is doing is to calculate the absorption rates. The definition of absorption rates is the number of weeks it takes to sell the current real estate inventory in Nanaimo at the present rate of sales. April 2013 was a busy month for single family homes sales in Nanaimo.  There were many Sold signs all over Nanaimo.  With that in mind I was interested to see what the absorption rates would be. My numbers come from the latest real estate stats published by VIREB (Vancouver Island Real Estate Board).  Based on the information they have supplied I have calculated the absorption rates for r...
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By Douglas Belcher, RE/MAX, Nanaimo ABR ePRO SRES
(RE/MAX of Nanaimo)
Renovated 2 bedroom 2 bath home. This cute renovated home has had major updates in the last 2 years; new roof, new h/w tank, new windows, new 95% efficient gas furnace, new floors and freshly painted inside. The master bedroom has a walk-in closet and en suite. The home has a large kitchen that leads to a back deck, separate laundry room with stacking GE washer dryer and spacious living room. There is a covered front porch and plenty of storage space in the under height full basement with concrete floor. The property itself is accessible both from the street as well as having lane access in back. Nanaimo real estate mls listings
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By Douglas Belcher, RE/MAX, Nanaimo ABR ePRO SRES
(RE/MAX of Nanaimo)
I will be doing an Open House 1570 Townsite Road Sat Sun April 20-21 1-3 pm. This is a new home with a legal 2 bedroom suite. The home has a nice sized back yard and a really nice mountain view. There is a new home warranty in place and is available for quick possession. New home for sale Central Nanaimo  
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By Lynn Donn, Homes for Sale in Nanaimo BC
(Royal Lepage Nanaimo Realty)
Housing prices in Nanaimo for the first quarter of 2013 I have reviewed the Vancouver Island Real Estate Board sales statistics for the first quarter of 2013.  I’ve used these numbers to determine the average sale price of single family homes by Nanaimo neighbourhood for the first quarter of 2013. Please see the chart below. The best indicator of housing price trends is reviewing current home sales.  VIREB prepares monthly reports to assist REALTORS®, who in turn assist their clients, in making pricing decisions. These numbers are very useful if you are considering purchasing or selling a home in Nanaimo.  Knowing what the average cost of housing per neighbourhood is, helps you decide which neighbourhoods are the most affordable for you. Based on the information I have received from VIR...
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By Lynn Donn, Homes for Sale in Nanaimo BC
(Royal Lepage Nanaimo Realty)
Baby boomers are downsizing their homes There is no doubt in my mind that the baby boomer generation is starting to make a move toward downsizing their homes.  Every second person I meet at open houses or at the Royal Lepage kiosk say that they are thinking about downsizing. Of course, anything the baby boom generation does have a huge impact on trends in everything.  It stands to reason that once the majority of that generation make the decision to downsize the real estate market will be affected in a huge way!  Potentially there could be a glut of family homes available for sale with a high demand for smaller homes, such as patio homes and small ranchers. But does housing in Nanaimo offer what baby boomers are looking for today? To help answer that question, let’s consider some of the...
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By Lynn Donn, Homes for Sale in Nanaimo BC
(Royal Lepage Nanaimo Realty)
What is your Nanaimo home worth? Are you wondering what your Nanaimo home is worth? As a home owner, regardless of whether you are planning to sell your home or not, it is important to know the current value of your home.  For most of us, our home is our most valuable asset and makes up a large part of our net worth.   The following chart will give you a ball park figure of the average value of homes by Nanaimo neighbourhood. The numbers reflect the average selling price of homes over the past twelve months.   Many factors are considered when coming up with a specific market value for a home.  The numbers in the chart below reflect average prices.  If you would like to determine the market value of your home specifically, I would recommend a Comparative Market Analysis from a licensed R...
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By Lynn Donn, Homes for Sale in Nanaimo BC
(Royal Lepage Nanaimo Realty)
What to do about ugly green algae on siding  I have been enjoying spending time outdoors with all this warm, sunny weather we have been having. I was puttering around in my garden earlier today, enjoying the warmth but also feeling a tad overwhelmed by all the work that needs to be done.   We have a cute little shed that my husband built that has a little window box full of spring bulbs. I noticed that the shed and window box were covered in a green algae. After a wet winter algae often grows on the north facing side of walls. I decided that removing that algae was the first spring cleanup chore I would tackle. I read an article on Yahoo that said all I needed was a spray bottle and some Clorox .  I followed the instructions below and Voila! a clean shed. Fill a spray bottle with half C...
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