Nanaimo, BC Real Estate News

By Lynn Donn, Homes for Sale in Nanaimo BC
(Royal Lepage Nanaimo Realty)
Home prices in Nanaimo BC for November 2012   Real estate market data for Nanaimo, BC provided by Lynn Donn of Royal Lepage Nanaimo Realty Nanaimo home prices We have seen 11 straight months of a lowering trend in house prices in Nanaimo.  However, when we look at the past 11 months, instead of just looking at the past month, house prices are down by only 3% over the same 11 months of 2011.  There has been a great deal of media coverage on how prices are plummeting.  If you look at the big picture, a 3% decrease is modest, however I don’t think it is alarming.     Average sell Price of Nanaimo Homes                 Houses Condos Lots     Nov-11 $363,911 $217,611 $161,985     Nov-12 $352,369 204,612 $155,081              Nanaimo Real estate report summary The following are the single fam...
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By Lynn Donn, Homes for Sale in Nanaimo BC
(Royal Lepage Nanaimo Realty)
Things to do in & around Nanaimo in December December is a festive time in Nanaimo.   Below you will find some of the many holiday offerings in the mid-Island region including Nanaimo, Ladysmith & the Parksville Qualicum area. Nanaimo VIU's 18th Annual Festival of Trees- running from November 19-30- Choose your favourite tree at this popular long-running holiday event. Highlights include a dazzling display of Christmas lights, decorations, and trees – many of which will be raffled off at the Festival. Yesteryear Christmas Nanaimo Museum • 100 Museum Way December 15 • 1:00pm- 4:00pm Experience an old fashioned family Christmas at the Nanaimo Museum featuring historical toys, crafts, and treats. Children (and the young at heart) will enjoy playing with toys that were popular 100 years ago...
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By Lynn Donn, Homes for Sale in Nanaimo BC
(Royal Lepage Nanaimo Realty)
Best home renovations for return on investment I was reading through the Home Renovation Survey conducted by the Appraisal Institute of Canada.  The point of the survey was to determine which home improvements afford homeowners the best return on investment when it’s time to sell. The following renovation projects provide the highest ROI potential for homeowners:        Bathroom renovations ( 75%-100% payback)        Kitchen renovations  ( 75%-100% payback)        Painting- both interior and/or exterior (50-100%) The following projects have average pay back potential:         Roof shingle replacement ( 50-80% payback)        Furnace/heating system  ( 50-80% payback) Basement renovation (50-75%) Addition of a Rec room (50-75%) Installing a fireplace (50-75%) Flooring (50-75%) Constructin...
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By Lynn Donn, Homes for Sale in Nanaimo BC
(Royal Lepage Nanaimo Realty)
Nanaimo real estate statistics- as of October 31 2012 Here is a review of real estate in Nanaimo for the month of October, 2012.  Nanaimo real estate statistics for single family homes The Cumulative Residential Average Single Family Sale Price is down by 6% over October 2011.  The average sale price was $336,172 in October 2012 compared to $356,453 in October 2011. The following are the single family market changes for October 2012 compared with October 2011 -  There were 149 units listed this October compared to 174 units in October 2011. – Down by 14% -  There were 82 units sold this October compared to 96 sold in October 2011 – Down by 15% -  The average sale price per unit for October 2012 was 6% lower thanOctober 2011 -  The average days to sell inOctober 2012 were 49 days compare...
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By Douglas Belcher, RE/MAX, Nanaimo ABR ePRO SRES
(RE/MAX of Nanaimo)
With just two months left in the year the 12 months to date Nanaimo sales of single family homes is down about 8%. Lot sales are also off by 8%. Prices seem to be stabilizing in homes and lots but are down in the condo market. For a full report click here. Nanaimo real estate stats Doug Belcher RE/MAX of Nanaimo  
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By Douglas Belcher, RE/MAX, Nanaimo ABR ePRO SRES
(RE/MAX of Nanaimo)
5381 Entwhistle Drive - North Nanaimo $595,000 - MLS # 346439 3 Bedroom + Den Ocean View Home on .42 acre lot, Double Garage and Double Carport It has that too!If you have been looking for a custom built ocean view home with 4 covered parking spaces on a large lot you know the list of homes is short. This home has so many features it's hard to know where to start. As you pull into the long driveway that sets this home away from the road you'll start to appreciate the mature and extensive landscaping. The driveway is done with hand laid brick paving stones. The driveway splits off to the lower floor where there is a double carport. The oversized double garage has doors at the front and back. Main level entry leads to an open concept kitchen, breakfast nook and family room all with ocean...
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By Lynn Donn, Homes for Sale in Nanaimo BC
(Royal Lepage Nanaimo Realty)
Does Your Real Estate Agent Have A Good Website?   The internet has been around for quite some time now, so you may be surprised to know that there are still many businesses out there that don’t have a website. Somewhere between 80% and 90% of potential buyers use the internet as part of their home search, and I’ve personally found that serious, qualified buyers use the web to do a lot of research before they even contact a real estate agent to schedule a showing. With internet marketing the rule of thumb is that your listing should be exposed to as many prospective buyers as possible.  A visitor to a real estate website will spend only 3-4 seconds on the site before deciding whether or not to click over to a different website.     If the website does not draw a buyer in , doesn’t attra...
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By Lynn Donn, Homes for Sale in Nanaimo BC
(Royal Lepage Nanaimo Realty)
How Not To Get Top Dollar For Your House   Selling your own home can be an emotional drain.  After all, you’ve probably lived in Nanaimo for some time, maybe raised your kids here, and have a lot of family memories that go hand in hand with your home.   But when the time comes to put your home on the market for sale, it’s important to step back and look at your house as objectively as possible. You see, while you may have a lot of good memories about your house, a potential buyer is going to want to envision themselves living in your soon-to-be old house and creating family memories for themselves.   That’s why it’s important to make it as easy as possible for a good buyer to imagine owning your home. Making changes is often difficult, but the fact in real estate is that if your house l...
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By Lynn Donn, Homes for Sale in Nanaimo BC
(Royal Lepage Nanaimo Realty)
  How To Research The Nanaimo Real Estate Market Many of my clients ask what the best way is to quickly get to know the real estate market in Nanaimo. My answer may surprise you.  The best way to get yourself up to speed on the real estate market is to visit open houses.   Here’s why visiting open houses in Nanaimo is a good idea:   1.  You’ll get real-time information on your competition.    Sure, reading reports from theMLSwill be useful, but nothing beats actually visiting homes for sale instead of just reading about them.   2.  Visiting open houses is a great way to learn how motivated Nanaimo homeowners are to move their property.    Again, talking to the listing agent or seller eye-to-eye and hearing what they have to say is a great way to judge how quickly somebody really wants t...
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By Lynn Donn, Homes for Sale in Nanaimo BC
(Royal Lepage Nanaimo Realty)
How To Choose The Right Price For Your Nanaimo Home Let’s cut right to the chase. The #1 reason that homes in Nanaimo don’t sell is because of the price, plain and simple.   Now, before you jump to the conclusion that all real estate agents want to do is sell homes for cheap so they can move on to the next deal, let me tell you that I’m not suggesting that you sell your home as cheaply as possible.   What I am saying is that pricing your home correctly – from the very first day that it goes on the market – will make the difference between your Nanaimo home selling quickly to a qualified buyer, or having your home sit on the market for weeks on end and attract nothing but buyers looking for an unrealistically motivated seller.   Many times a seller will want to start by listing their hom...
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By Lynn Donn, Homes for Sale in Nanaimo BC
(Royal Lepage Nanaimo Realty)
Is It A Good Idea To Buy A Fixer-Upper in Nanaimo?   You’ve probably seen commercials on TV, or have read some things on the internet, or maybe even attended a free seminar about all the money that’s to be made in buying fixer-upper real estate. If you’re thinking about buying a fixer-upper house inNanaimo, be sure to have a solid business plan in order, before you make an offer. Here are a few things to consider when looking for that Nanaimo real estate deal: 1.  Home Inspection.  Have a good inspector lined up, preferably one who has some experience working with distressed real estate. A fixer-upper home will have been neglected for quite some time, so there are going to be issues with the house that you won’t typically see in a normal re-sale house.  A good inspector who knows the fi...
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By Douglas Belcher, RE/MAX, Nanaimo ABR ePRO SRES
(RE/MAX of Nanaimo)
The Nanaimo real estate market cooled off July through August. This last month however buyers seem to be more active. Intertest rates are still very low and prices have come down in most sectors. Here are a few of my listings. I will also have a large ocean view home coming on the market next week on a .48 acre lot.   301 - 1631 Dufferin Cres. 1 bedroom condo central Nananimo.   705 Howard Avenue - 4 bedroom home with suite - SOLD     2830 Genayr Drive - Departure Bay - $299,900 - Reduced 162 Bonavista Place - $189,500 - Reduced     Doug Belcher RE/MAX Nanaimo, Nanaimo Real Estate    
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By Lynn Donn, Homes for Sale in Nanaimo BC
(Royal Lepage Nanaimo Realty)
What exactly IS happening in the Nanaimo real estate market? If you are like me, you have been hearing doom and gloom reports about the Nanaimo real estate market. There is no question that the market has been down over the last two months in relation to the same months the previous year.  However, in order to get an accurate view of how the market is actually doing we need to look at activity over a period of a year.  I have drawn up the following chart to present a more accurate view of how the real estate market in Nanaimo is really doing. Single Family Homes This year to date Last year to date % of change Units listed 2251 2310 -2% Units sold 1050 1083 -3% Average sell price $354,937 $361,755 -2% Sell price/ list price 95% 95% Equal Days to sell 54 57 -5% I think the above numbers g...
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By Lynn Donn, Homes for Sale in Nanaimo BC
(Royal Lepage Nanaimo Realty)
Nanaimo Real Estate from Jan-Sept 30 2012 – What's been selling? I’ve been reviewing the sales to date in Nanaimo, for this year. VIREB has calculated the Nanaimo real estate sales numbers for the past 10 months.  Most months I look at the sales from the previous month.  However, this month I am going to share the year-to-date numbers.  I believe that the year-to-date numbers will give us a more accurate reading of the Nanaimo real estate market. Knowing what is going on in the Nanaimo real estate market is important for both buyers and sellers.  For buyers looking at real estate in Nanaimo the main concerns are price, selection and timing.  For people selling their Nanaimo home the important factors are timing, level of inventory (competition) on the market and how much they can ask fo...
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By Lynn Donn, Homes for Sale in Nanaimo BC
(Royal Lepage Nanaimo Realty)
What Exactly Is Feng Shui Decorating? You’ve probably heard of how using Feng Shui decorating to sell real estate can make a big difference. But, what exactly is Feng Shui decorating and how does it work? Simply put, using Feng Shui decorating will give your home the look of joy and harmony, and will create environments that have the best energy for a specific activity and space. If this sounds complicated, it’s really not. For example, Feng Shui decorating in your bedroom will give that room a relaxing, romantic energy.  Your home office, on the other hand, would want to have an atmosphere of success and accomplishment. Some factors to consider in successful Feng Shui decorating include: 1.  Clearing your clutter.  That’s because using Feng Shui decorating on an already cluttered home ...
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By Lynn Donn, Homes for Sale in Nanaimo BC
(Royal Lepage Nanaimo Realty)
Top 5 Buyer Pet Peeves When Viewing Homes Have you ever wondered why it is that some homes for sale in Nanaimo, sell quickly, while other sit on the market for a long time?  Assuming that the home for sale in Nanaimo is priced right and is being marketed well, in my experience the difference between a home in Nanaimo selling fast or not moving at all comes down to buyer pet peeves.  I’ve worked with quite a few buyers and here are the top 5 pet peeves that buyers have when viewing homes: 1.  Pets.  No pun intended, but if you’re selling a home in Nanaimo and have a pet, it’s best to take your pet out of the house when your home is being shown, and be sure that there are no pet odours.  2.  Kitchen odours.  Next to pet smells, kitchen odours are the one thing that buyers complain about t...
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By Lynn Donn, Homes for Sale in Nanaimo BC
(Royal Lepage Nanaimo Realty)
Top 3 Things That Can go wrong in a real estate transaction    You’ve probably heard more than one story about how a buyer or seller were a day away from removing subjects on the sale of their home and out of no where there was one unexpected delay after another.   Here are the top 3 things that can go wrong with a real estate transaction, and what you can do to avoid them.   1.  Financing   Next to having a good real estate agent, having an experienced and trusted lender – and one who is not too busy to handle your loan – is the most important aspect in having your real estate transaction go smoothly.    2.  Disclosure As a realtor often times a seller will ask me a question along the lines of, “Should I disclose this . . . “. Here’s one practical disclosure tip to follow:  Pretend tha...
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By Lynn Donn, Homes for Sale in Nanaimo BC
(Royal Lepage Nanaimo Realty)
Top 3 New ConstructionBuilding Trends   New home builders onVancouver Islandare masters at quickly reading up and coming trends and responding to what new home buyers want – sometimes even before the buyer knows what she wants! Here are three new construction building trends in BC that are worth keeping an eye on: 1.  Flexibility Many buyers on Vancouver Islandhave become less extravagant with their wish lists and are looking for different things in homes today.  Flexibility is one key requirement. Flexibility means that buyers are looking for rooms that can be used for more than one purpose.  Gone is the formal dining room.  In its place new home buyers are more apt to look for room that can be used for more than one purpose – a bedroom that can be used as an office, for example.    2....
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By Lynn Donn, Homes for Sale in Nanaimo BC
(Royal Lepage Nanaimo Realty)
Steps to downsizing your Nanaimo home If you are grappling with the question of whether or not to downsize your home; you are not alone.  As a Seniors Designated Realtor in The Nanaimo area, I often work with seniors and empty nesters.  I am currently working with a number of couples and singles who are working through that question right now.  These families are wondering if they should downsize, and if so, when is the best time to make the move. Perhaps the thought of moving sounds good, but the thought of selling your home and moving to a smaller space overwhelms you.  The following three steps offer a systematic approach to help you determine if downsizing is right for you. Take a few moments to ask yourself the following two questions: 1.   Do you want to move or is it that you fee...
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By Lynn Donn, Homes for Sale in Nanaimo BC
(Royal Lepage Nanaimo Realty)
How To Organize Your Kitchen To Make Showings Easier     The kitchen is one of the focal points when selling your home in Nanaimo, so it’s important to organize your kitchen to make showings easier and hopefully close the deal with that qualified buyer. But, organizing your kitchen for showings is a little bit different than how you might have your kitchen arranged for normal, every day use.   When you set up your kitchen for cooking – for every day use – you probably have everything within reach and aren’t that concerned about cosmetic appearances.   But, when you organize your kitchen for a showing, you’ll want to consider the cosmetic appearance much more.  That’s because while most people like the look of the kitchen, there are a lot of people that simply don’t cook that much.   Her...
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