Nanaimo, BC Real Estate News

By Douglas Belcher, RE/MAX, Nanaimo ABR ePRO SRES
(RE/MAX of Nanaimo)
This home is located in central Nanaimo (Townsite Area). It is close to schools and shopping and parks. It features hard wood floors and has a massive back yard due to the large lot size .23 acres). It needs some updating but is in good shape. A great starter home for a young family or avid gardeners. The home recently had several electrical upgrades. The owner has two dogs so please book your appointments ahead of time.   Total Square footage - 1895 3 BedroomsMaster Bedroom - 10' x 10' Bedroom #2 - 7' 11" X 8'  10"Bedroom #3 - 21' 9" X 12' 6" 2 BathroomS 4 pc / 2 pc Kitchen - 7' x 12' Dining Room - 13' x 10' 1 Car Garage Lot Size  - 9960   sq ft. / .23 ACRES  / 60 x 166Legal Desc. - LT 27 LD 32 SEC 1 PL 7383PID # - 001729608Zoning - RS-1aTitle - FreeholdTaxes - $1819  (2006) SchoolsEle...
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By Douglas Belcher, RE/MAX, Nanaimo ABR ePRO SRES
(RE/MAX of Nanaimo)
Prices rose quickly in both February and March. Inventory levels climbed throughout the year but fell off in December. The number of days to sell a home varied between a high of 61 in the slow month of January to a low of 35 days in June. Sellers' that did manage to sell their home were getting 97% - 98% of asking price. (if a home listed at 294,000 it likely would sell for $289,000). Homes that were properly priced and in good areas tended to sell quickly. Over priced homes typically went through one or two price reductions before selling.  Avg. Sale Price2006 Avg. Sale Price2005 % Change Avg. # of Days on market # of homes for sale Price Ratio (list vs. sell) List / SellRatioJanuary271,520240,87212%6135698%51%February289,927235,90340%4439198%61%March303,279246,46123%4139998%44%April30...
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By Allie Vaughan
(Remax of Nanaimo)
It would seem that inheriting a house, especially one filled with good memories, would be an unqualified blessing.   But inheriting the family homestead and deciding what to do with it also can stir up all sorts of emotions, including unpleasant ones. It also can strain family relationships. Before the all-too-common family wars break out in earnest, you'll want to calmly and (at least somewhat) rationally think through your options. If there is more than one heir, you'll also need to discuss the situation with the others, keeping in mind that everyone is likely to have different views on just how to proceed.  The early inclination is to hang onto a home because you (and possibly your siblings) are attached to it. That thinking can backfire.  The good times can quickly be overcome by th...
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Does thoughts of moving keep recurring?  Change house, neighbourhood, perhaps neighbours?  These are some signs that a real estate deal and move is in your horizon.Kids sharing a room? Yard too small? You need a family friendly home that will grow with your family. Maybe you need a smaller home. You find yourself scanning the classifieds, picking up real estate magazines, writing down website addresses. Thinking it is time to make your dream home a priority.  The commuting to work is a killer.  Your home renovations are never satisfying.  This endless cycle of fixing and tweaking tells you your home just isn't doing it for you anymore.  Crime.  You feel nervous and barely feel comfortable walking out the front door.  Your neighbour sold their home for a fabulous price. Your home can rea...
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By Allie Vaughan
(Remax of Nanaimo)
Find out how much you can afford to pay for your new house and get pre-qualified for a mortgage.   Now you're ready to start your search.  Sources available to find the right home would include:Word of mouth:  By telling everyone you know you're looking for a new house, you just might hear about a home that may be ready to enter the market.Newspapers / real estate magazines:  Check the new home section of your newspaper or look for real estate magazines available at newsstands, convenience stores and other outlets.  These free publications feature pictures and a brief description of a variety of homes.The Internet:   Check real estate websites, such as  www.mls.ca  or www.remax.ca (<--shameless plug) for information and pictures on a superb range of properties.  These sites allow you to...
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The Home InspectorFor most people it is a good idea to have the new home you're thinking of buying inspected by a knowledgeable, professional home inspector.  Your Realtor can include this in your Offer to Purchase.The role of the home inspector is to educate you on the condition of the property.  They will inform you if something is not functioning properly, needs to be replaced or is unsafe.  You should be told of repairs that will need to be done and often your inspector will be able to identify problems that have existed in the past.The minimum of a home inspection should include an evaluation of the following:FoundationDoors & windowsRoof and exterior WallsAtticsPlumbing & electrical systemsHeating & air conditioning systemsCeilings, walls & floorsInsulationVentilationSeptic tanks,...
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The Cost of Home Ownership (Part 2 of 2)In addition to the items listed in Part 1, you may need to consider these following items and whether or not they pertain to you.  Nobody likes nasty surprises after the for sale becomes sold.Appliances  (Is it a new home, or new to you?  Appliances may or may not be included.  If you're on a tight budget consider locating a refurbished appliance store or your local buy & sell paper.  If you borrow extra funds on your mortgage for new appliances (or furniture, for that matter) you could be paying for these items long after their life span.  And a special note:  should you purchase your home and appliances are included, make note of the brand and model names, perhaps have your realtor record the serial numbers - you'd be surprised at the number of ...
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There are various costs associated with the purchase of your new home whether it be in Nanaimo or elswhere.  After you've arrived at the price range of the home for sale that you can afford and the home's mortgage you've qualified for, remember to add on the up front costs.Mortgage Loan Insurance Application Fee / Premium:If you have a high ratio mortgage (less than a 25%  down payment) you may require mortgage loan insurance.  To obtain this insurance you may be asked to pay an application fee which may be: a) added to your mortgage or, b) paid in full upon closing.Appraisal FeeThe mortgage lender may require that your new home be appraised - at your expense.  An appraisal is an estimate of the home's value.  This cost could be in the $300.00 - $400.00 range.DepositThis will eventually...
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By Allie Vaughan
(Remax of Nanaimo)
Nanaimo Kitchen tips:Fridge - why make the fridge work harder:  keep it away from sources of heat in your home like sunlight, heating vents, kitchen ranges, dishwashers or radiators.  Let food cool down prior to putting inside your fridge so extra energy isn't being used in chilling the food.  You can fill the freezer to capacity but don't overfill a refrigerator so as it blocks the air circulation making it working harder to keep things cool.  Check the door's seal by losing the door on a five dollar bill (or hundred dollar bill if you have one handy).  If it isn't held tightly in place the seal may have to be adjusted or replaced.  Don't leave the fridge door open longer than necessary.  Use a fragrance-free, non toxic Deodoroc Fridge Block, made from naturally occurring minerals or a...
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By Douglas Belcher, RE/MAX, Nanaimo ABR ePRO SRES
(RE/MAX of Nanaimo)
        $96,800 South Nanaimo #102-30 Cavan Street Bachelor Suite Details $149,900 South Nanaimo #114-30 Cavan Street Corner unit, 1 bedroom, 1 bathin-suite laundry Details $149,900 South Nanaimo #214-30 Cavan Street Corner unit, 1 bedroom, 1 bathin-suite laundry Details $149,900 South Nanaimo #316-30 Cavan Street Corner unit, 1 bedroom, 1 bathin-suite laundry Details $149,900 South Nanaimo #416-30 Cavan Street Corner unit, 1 bedroom, 1 bathin-suite laundry Details $457,000+G.S.T. JinglepotNanaimo 3688 Monterey Drive 2 Bed, 2 Bath + Den +Bonus Room, New Home , Walnut Hardwood FloorsOPEN HOUSEFriday December 8, 2-4 pmSaturday December 9, 2-4 pmSunday December 10, 2-4 pm Details $689,900 NorthNanaimo 6474 Peregrine Road 5 Bedroom, 3 Bathroom, 3,410 sf. ft. 6459 sq ft lot Amazing Ocean Vie...
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By Douglas Belcher, RE/MAX, Nanaimo ABR ePRO SRES
(RE/MAX of Nanaimo)
Housing can help improve Canadian productivityCREA says private investment can expand rental-housing stock The Canadian Real Estate Association has told the Standing Committee on Finance that a change in tax rules to allow for investment in real rental properties would help improve Canada's international competitiveness. "The Minister has spoken about a pro-growth strategy. He has talked about liberating the forces of investment as a key to economic competitiveness. Our proposal is a natural component of such a strategy." CREA CEO Pierre Beauchamp explained in his presentation to the Committee on October 18th. "It has the potential to help revitalize our communities and contribute to wider economic prosperity." The specific CREA proposal presented to the Standing Committee involves the ...
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By Allie Vaughan
(Remax of Nanaimo)
Ever wonder why "kitchen parties" naturally occur in your home every time you have a get-together?  Well, it is because the kitchen is the hub of every home.  It is where we get nourishment and refreshment, gather and regroup after a busy day.  It is a room with real value for every family.  We have learned that kitchen upgrades can really deliver, with a 44% higher return on investment than the average return on other popular renos for your real estate investment.
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By Allie Vaughan
(Remax of Nanaimo)
Whether you're buying real estate in Nanaimo or elsewhere in Canada, you can now apply for a 40 year mortgage with no money down.  When you spot the for sale sign on that perfect house, imagine the feeling of comfort knowing you've been pre-qualified for the mortgage.  Your realtor can include the homes in the price range you can afford and you will have saved yourself some big disappointments by eliminating houses out of your "snack bracket".   
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By Allie Vaughan
(Remax of Nanaimo)
Disappear in Your Personal SpaToday's stress-filled world leaves us all crying out for rest and relaxation.  Making your home's bathroom the best it can be will generate a 56% better return on your real estate property investment than the average popular reno.The goal should be to create a spa-like environment in your bathroom.  Maybe install a soaker tub with relaxing jets, or perhaps a new steam shower stall.
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By Allie Vaughan
(Remax of Nanaimo)
ROCKY POINT CONDO For Sale:  Own this fabulous updated north Nanaimo condo within a very prestigious adult oriented building within walking distance to the ocean. This extremely bright unit offers plenty of windows for natural light & a private patio with plenty of sun. Offering 1055 sq. ft. with 2 bedrooms, 2 baths, an open spacious living room with a natural gas fireplace, dining area & a galley styled kitchen. Some additional property features include; in-unit laundry, plenty of closets for storage, covered parking stall, extra storage, security access, wheelchair accessibility, attractive building, ocean views from the living room and patio, views of grazing deer from this ground floor unit. Excellent value home. Some pets are allowed.
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By Allie Vaughan
(Remax of Nanaimo)
Rekindle your Passion for Living Nothing beats the feeling of curling up around a fire on a cold winter's night in your home.  Not to mention the comforting feeling of hearth and home that a fireplace adds to a room.  Installing or upgrading the fireplace in your home will generate 11% greater return on investment than the average return on other popular property renos.
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By Allie Vaughan
(Remax of Nanaimo)
Often overlooked for the dramatic effect it can have on any living environment, the simple repainting of walls gives you a 29% better return than other popular renos when listing your home for sale.  Whether you go neutral with splashes of colour or warm and dramatic, trends include a mix of strong colours, mixed with nature-inspired neutral-energy colours like orange, aqua, sage and blue, along with natural palates leaning towards bisque, fawn, grey and walnut. There is definately a lot of bang for your buck when preparing your home for the real estate market - whether it be in Nanaimo or elsewhere - and the great part of it all: most anyone can pick up a paint brush and improve the look of their property.
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By Allie Vaughan
(Remax of Nanaimo)
Many people do not recognize the importance of house numbers and as a result, many homes in Nanaimo are not identified with visible or legible house address numbers.  In most cases, this is not an intentional decision, but rather a lack of understanding of the potential consequence of not installing them or allowing vegetation to reduce their visibility. Unfortunately, the inability to quickly identify an address from the street may cause delays in responding to a home during an emergency.  Nanaimo city bylaws establish the following minimum standard for house numbering:House numbers must be placed in figures not less than 3" high on the building in a conspicuous place, visible from the street upon which the building fronts.House numbering checklist:House numbers should be of a contrast...
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By Allie Vaughan
(Remax of Nanaimo)
Great looking floors are a strong feature of any home. It often makes all the difference.  This upgrade can generate a 22% better return on investment than the average. Start by ripping out that dated wall-to-wall carpet.  Then sand your existing floors down and refinish them, or choose one of the many easy-to-install affordable laminates now available.  A darker stain gives and elegant yet up-to-date look.
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By Allie Vaughan
(Remax of Nanaimo)
You'll love the ocean and mountain views of the mainland's Sunshine Coast once you exit the french doors leading to the rear deck. Minutes from Nanaimo's Westwood Lake, this lovely 2040 sq. ft. home sits down the driveway from a quiet cul-de-sac, serenely nestled amongst the foliage and trees of almost 1/2 acre. Vaulted livingroom ceiling, natural stone wood-burning fireplace and oak kitchen cabinets compliment this lifestyle home. If you appreciate the seclusion of watching soaring eagles or simply curling up with a fabulous book you will want to find out much more of what this fabulous Nanaimo hideaway has to offer. 
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