Nanaimo, BC Real Estate News

By Lynn Donn, Homes for Sale in Nanaimo BC
(Royal Lepage Nanaimo Realty)
Nanaimo real estate statistics- April 2012 Here is a review of real estate in Nanaimo for the month of April, 2012.  Nanaimo real estate statistics for single family homes The Cumulative Residential Average Single Family Sale Price is down by 2% over April 2011.  The average sale price was $368,181 in April 2012 compared to $374,501 in April 2011. The following are the single family market changes for April 2012 compared with April 2011 -  There were 238 units listed this April compared to 236 units in April 2011. – Up by 1% -  There were 114 units sold this April compared to 87 sold in April 2011 – Up by 31% -  The average sale price per unit for April 2012 was 2% lower thanApril 2011 -  The average days to sell inApril 2012 were 54 days compared with April 2011 which was 51 days. -  T...
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By Lynn Donn, Homes for Sale in Nanaimo BC
(Royal Lepage Nanaimo Realty)
Top Three Tips For Holding An Open House in Nanaimo Holding an open house can be a very effective way of getting the word out about new Nanaimo homes on the market. If you’re thinking about holding an open house, remember that you’ll be in competition with the other Nanaimo homes on the market, so you’ll want to be sure to put your best foot forward. Here are my top three tips for holding your Nanaimo open house: 1. Staging is OK, up to a point Try to forget a lot of what you may have seen on TV about staging your home. Prospective buyers want to be able to imagine that they’re living in your home, not a hotel. The key is to get a buyer to start thinking that they live in your home, not you. So, without going through too much trouble, it’s best to remove any items that are too personal ...
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By Lynn Donn, Homes for Sale in Nanaimo BC
(Royal Lepage Nanaimo Realty)
Homes for sale in Nanaimo may actually sell faster when they are pre-inspected before going on the market for sale. But rather than thinking about this from a seller perspective, imagine that you are a buyer looking for homes for sale in Nanaimo. I can tell you from my personal experience in working with buyers that their biggest fear is that they’ll find the home of their dreams to buy in Nanaimo, only to have the deal fall through because there’s something wrong with the house. So if you’re selling a home in Nanaimo, why not meet this objection head on by doing a pre-listing home inspection? Four Reasons For Doing A Pre-Listing Home Inspection Here are four reasons for conducting pre-listing inspections on homes for sale in Nanaimo: 1. You’ll be able to discover and repair any items t...
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By Douglas Belcher, RE/MAX, Nanaimo ABR ePRO SRES
(RE/MAX of Nanaimo)
5 Bedroom Renovated home on .31 acre lot with a 2 bedroom suite. This home has had several updates including , new hot water tank, new roof, refinished oak floors, new appliances and much much more. There is even a partial ocean view. The home is in Beach Estates a much desired area; close to schools and shopping.   Doug Belcher REALTOR REMAX Nanaimo
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By Lynn Donn, Homes for Sale in Nanaimo BC
(Royal Lepage Nanaimo Realty)
What’s The Difference Between A Buyer’s Market And A Seller’s Market One of the keys to selling Nanaimo real estate is to understand the difference between a buyer’s market and a seller’s market. On a very basic level a buyer’s market means that a buyer holds the cards, and a seller’s market means that the seller has most of the control when selling a home in Nanaimo. But to be successful in selling Nanaimo real estate, it’s important to understand how a buyer’s market is created and what conditions make a seller’s market. Buyer’s Market Here are some of the factors that can create a buyer’s market in Nanaimo real estate: 1.  Too many homes for sale in Nanaimo means a buyer feels they can take their time deciding which home to buy. 2.  Lower offers will be made if there is a lot of inve...
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By Lynn Donn, Homes for Sale in Nanaimo BC
(Royal Lepage Nanaimo Realty)
Real Estate in Nanaimo - Absorption rates for March 2012 One of the key indicators on how the Nanaimo real estate market is doing is the absorption rate.  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 real estate here in Nanaimo as of the end of March 2012. By tracking these numbers monthly it helps me understand better what type of real estate market Nanaimo is experiencing. In addition, these absorption rates assist me in advising my clients on realistic expectations on the length of time it will take to sell their home. The definition of absorption rates is the number of weeks it takes to sell the current real estate inventory in Nanaimo...
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By Lynn Donn, Homes for Sale in Nanaimo BC
(Royal Lepage Nanaimo Realty)
Nanaimo real estate statistics- March 2012 Here is a review of real estate in Nanaimo for the month of March, 2012.  Nanaimo real estate statistics The Cumulative Residential Average Single Family Sale Price is down by 5% over March 2011.  The average sale price was $349,806 in March 2012 compared to $368,354 in March 2011. The following are the single family market changes for March 2012 compared with March 2011 -  There were 224 units listed this March compared to 246 units in March 2011.  -  There were 90 units sold this March compared to 115 sold in March 2011 -  The average sale price per unit for March 2012 was 5% lower thanMarch 2011 -  The average days to sell inMarch 2012 were 47 days compared withMarch 2011 which was 55 days. -  The average unit sold in March 2012 received 96%...
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By Lynn Donn, Homes for Sale in Nanaimo BC
(Royal Lepage Nanaimo Realty)
Home Fire Prevention Tips for Nanaimo Real Estate When you own Nanaimo real estate it’s important to keep a few home fire prevention tips in mind.  Your Nanaimo home could be one of the most – if not the most – valuable things that you own so fire prevention is going to be at the top of your home safely list. Summer time is just around the corner and many parts of the country are expected to be drier than usual. 4 Tips on Fire Prevention Here are a few fire prevention tips for your home that I always like to pass along to my family, friends and clients. Keep greenery cut back away from the house.  It’s best to have about 10 feet of space between your house and the closest tree or large bush. Debris on the roof and in the rain gutters.  This is one of those ‘out of sight, out of mind’ it...
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By Lynn Donn, Homes for Sale in Nanaimo BC
(Royal Lepage Nanaimo Realty)
How Pre-Inspections Make Homes for Sale in Nanaimo Sell Faster Homes for sale in Nanaimo sell faster when they are pre-inspected before going on the market for sale.  That may seem like a bit of a surprise, since homes for sale in Nanaimo are in great demand.  Especially in the $250, - $375,000 price range. But rather than thinking about this from a seller perspective, imagine that you are a buyer looking for homes for sale in Nanaimo.  I can tell you from my personal experience in working with buyers that their biggest fear is that they’ll find the home of their dreams to buy in Nanaimo, only to have the deal fall through because there’s something wrong with the house. So if you’re selling a home in Nanaimo, why not meet this objection head on by doing a pre-listing home inspection? Fo...
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By Lynn Donn, Homes for Sale in Nanaimo BC
(Royal Lepage Nanaimo Realty)
Why buying a Nanaimo Condo Makes Sense Nanaimo condos can make a great option to single family houses. Single family houses often times cost more to maintain than many home buyers realize, so Nanaimo condos offer an excellent alternative real estate purchase. Let’s consider some of the areas where condos in Nanaimo may be a better choice for some home buyers. Nanaimo Condos For Sale vs. Houses Here are some of the advantages of owning a condo compared to owning a house: Outside Maintenance With a condo, there’s virtually no outside maintenance to worry about.  Snow removal ( when we get it) is handled by the Strata. Landscaping Ditto with landscaping.  That’s the job of the Strata.  With a single family house you’ve either got to invest in the yard maintenance equipment to take care of ...
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By Lynn Donn, Homes for Sale in Nanaimo BC
(Royal Lepage Nanaimo Realty)
The Trendiest Colours For Nanaimo Real Estate Spring is just around the corner and perhaps you’re giving some thought to painting your home and are curious about what the popular colors are for Nanaimo real estate. When choosing paint colors for Nanaimo real estate, my go-to source is Benjamin Moore.  The quality of the paint and the color choices are just fabulous. 2012 Paint Colors for Nanaimo Real Estate Here are the top four choices for paint color, courtesy of Benjamin Moore: Earth & Sky The Earth & Sky collection uses a combined color palette of ‘fresh olive’, ‘Battenberg’ white, storm cloud gray, and Wythe blue.  By the way, Wythe blue was voted the colour of the year! Eclectic Elegance This palette offers a clean, tailored look that works well with most any décor. Colours in the...
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By Lynn Donn, Homes for Sale in Nanaimo BC
(Royal Lepage Nanaimo Realty)
Is It Better To Rent Or Buy Real Estate In Nanaimo? A question that I often get from my clients, particularly first time buyer’s, is whether it’s better to rent or buy real estate in Nanaimo. There’s really not a right or wrong answer to this question, but here are a few tips you may want to consider when thinking about whether it’s better to rent or buy real estate in Nanaimo. Advantages to renting: When you’re renting real estate you’ll have a lot less maintenance and repair costs than if you own your home. Landscaping and appliance repairs, for example, will most likely be done by the owner or management company, saving you the time, trouble and worry of having to deal with these items. Increased Mobility- Typically your rental lease will be for a year at a time, so if at some point ...
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By Lynn Donn, Homes for Sale in Nanaimo BC
(Royal Lepage Nanaimo Realty)
The 5 Most Common Mistakes First Time Home Buyers Make Now is a pretty exciting time to be buying real estate in Nanaimo, especially if you’re a first time home buyer. But let me suggest you step back, take a breath, and make sure that you follow a few simple steps when you’re buying real estate in Nanaimo for the first time. Here are five tips that I hope will make your first time experience of buying real estate in Nanaimo a pleasant one. Prearrange Your Financing Even before you get in your car for the first time to begin your home buying search in Nanaimo, it’s best to talk to a lender and understand your different financing options. I’ve seen many first time home buyers spend a lot of time – and some money – finding their perfect dream home, only to discover the hard way that they’...
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By Lynn Donn, Homes for Sale in Nanaimo BC
(Royal Lepage Nanaimo Realty)
How long will it take to sell our Nanaimo house? If you have been considering listing your Nanaimo house this spring it makes sense to have a feel for the state of the Nanaimo real estate market.  Knowing what kind of market we are experiencing can help you gage how long it will take to sell your home. I have calculated the absorption rate of homes by price range in the Nanaimo area.  The definition of absorption rates is: the number of weeks it takes to sell the current inventory at the present rate of sales. The numbers below reflect activity from the month of February 2012.  Please note that February is not usually a busy real estate month.  With this in mind it is important to note that the absorption rates should decrease in the busy spring real estate market.  This means that pote...
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By Lynn Donn, Homes for Sale in Nanaimo BC
(Royal Lepage Nanaimo Realty)
How is the Nanaimo real estate market- as of March 2012? Have you been wondering how the real estate market is doing in Nanaimo?  If so, the following video highlights the trends that are now occuring in the Nanaimo real estate market.
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By Lynn Donn, Homes for Sale in Nanaimo BC
(Royal Lepage Nanaimo Realty)
Nanaimo real estate statistics- February 2012 Here is a review of real estate in Nanaimo for the month of February, 2012.  Let’s have a look at some Nanaimo real estate statistics for last month. The Cumulative Residential Average Single Family Sale Price is down by 4% over February 2011.  The average sale price was $349,668 in February 2012 compared to $363,400 in February 2011. The following are the single family market changes for February 2012 compared with February 2011 -  There were 209 units listed this February compared to 223 units in February 2011.  -  The identical number of units were sold this February as did in February 2011 -  The average sale price per unit for February 2012 was 4% lower thanFebruary 2011 -  The average days to sell inFebruary 2012 were 58 days compared ...
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By Lynn Donn, Homes for Sale in Nanaimo BC
(Royal Lepage Nanaimo Realty)
Real Estate in Nanaimo - Absorption rates for February 2012 One of the key indicators on how the Nanaimo real estate market is doing is the absorption rate. 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. By tracking these numbers monthly it helps me understand better what type of real estate market Nanaimo is experiencing. In addition these absorption rates assist me in advising my clients on realistic expectations on the length of time it will take to sell their home. 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 sal...
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By Lynn Donn, Homes for Sale in Nanaimo BC
(Royal Lepage Nanaimo Realty)
The BC First Time Home Buyers'Bonus   Are you or someone you know a first time home buyer?  If so, the following information on the new, and temporary, first time home buyers bonus in BC may be of interest to you. Subject to approval by the Legislature, the B.C. Government has announced plans to implement a temporary BC First-Time New Home Buyers' Bonus.  It will be effective February 21, 2012 to March 31, 2013.  The Bonus is a one-time refundable personal income tax credit worth up to $10,000. Purchasers will qualify if: *  You purchase or build an eligible new home located in BC *   You, or for couples, you and your spouse or common law partner, have never previously owned a primary residence *   You file a 2011 B.C. resident personal income tax return *  You intend to live in the hom...
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By Douglas Belcher, RE/MAX, Nanaimo ABR ePRO SRES
(RE/MAX of Nanaimo)
Investment property or single family home. This 4 bedroom 3 bath home with unauthorized suite is priced to sell   The kitchen has updated cabinets and counters. Newer laminate flooring gives the home a nice designer feel. There is a single car garage (filled in as a storage space but easy to convert back). There is a workshop in the back of the home. The property is .2 acres, corner lot with mountain views and southern exposure.   RE/MAX Nanaimo BC  
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By Lynn Donn, Homes for Sale in Nanaimo BC
(Royal Lepage Nanaimo Realty)
Make your search for condos or townhouses in Nanaimo easy Are you searching for a condo or townhouse in Nanaimo?  As of today there are 304 condos and townhouses currently for sale in the Nanaimo area.  I don’t blame you if that seems intimidating.  How does one weed through all of those listings to find exactly what you are looking for? To make your search easier I have designed a form that you can complete that allows me to send you just what you are looking for.  You will receive a list of what is currently on the market that meets your criteria.  In addition, each time a new listing comes up that matches your search you will receive information on it. The listings you will receive will have pictures and complete details on the property.  To access this free service please click eith...
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