Nanaimo, BC Real Estate News

By Lynn Donn, Homes for Sale in Nanaimo BC
(Royal Lepage Nanaimo Realty)
Want to sell your Nanaimo home?  7 Tips to make it stand out  Want to sell your Nanaimo home? MSN Real Estate did a survey amongst their readers to see how to get your home to stand out.  Here are some of the tips that were sent in: Readers' No. 1 suggestion, expressed in many different ways was” Clean every square inch of your property and keep it clean until closing” Here are the top six other suggestions that the Editors felt were the strongest suggestions made by their readership. 1.     Pictures – It is the norm these days to shop for a home online before going out to physically view homes.  With that in mind it is so important to have clear, bright well defined pictures of the property.  These pictures may be the difference between a prospective buyer choosing to view your home; o...
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By Lynn Donn, Homes for Sale in Nanaimo BC
(Royal Lepage Nanaimo Realty)
6032 Cedar Grove Drive in Nanaimo One of the largest ground floor units in Cedar Grove Villas.  Unit 6032 is a level entry 2 bedrooms plus den.  Total of 1213 sq. feet.  Large living room with cozy gas fireplace.  Double French doors lead to a large den with slider to an outside, private patio.   The side yard and patio are a great place for a bar-b-que and for relaxing.  Flooring is a compliment of laminate, tile and carpet.  The unit has been freshly painted and has been well cared for. Nice galley kitchen with a large pantry and an eating bar. Kitchen appliances and washer and dryer are all included.  The master bedroom has a large 3 piece ensuite with plenty of storage. Cedar Grove Villas are conveniently located, within walking distance to shopping, restaurants and the Oliver Woods...
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By Douglas Belcher, RE/MAX, Nanaimo ABR ePRO SRES
(RE/MAX of Nanaimo)
Ocean view home, 2100 s.f, main level entry with basement 3 blocks from Departure Bay beach. Close to schools, shopping and parks. This would make a great family home. Built with dimensional fir ...it's got good bones but needs some cosmetic updating. The large vinyl deck in back sits over a two car carport and features ocean views. The living room features a wood burning fireplace and the home has forced air heating. A new roof was added in 2007. Three bedrooms up and a large basement with laundry room and if you were looking to have a shop there is lots of space. First time on the market!   Nanaimo REMAX
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By Douglas Belcher, RE/MAX, Nanaimo ABR ePRO SRES
(RE/MAX of Nanaimo)
Ocean view home, 2100 s.f main level entry 3 blocks from Departure Bay beach. Close to schools, shopping and parks. This would make a great family home. Built with dimensional fir ...it's got good bones but needs some cosmetic updating. The large vinyl deck in back sits over a two car carport and features ocean views. The living room features a wood burning fireplace and the home has forced air heating. A new roof was added in 2007. Three bedrooms up and a large basement with laundry room and if you were looking to have a shop there is lots of space. First time on the market! Ask for Doug Belcher (if I am not in, request to have me paged). You can also reach me on cellular phone 250-619-6012. All measurements are approximate Buyers should verify if important. RE/MAX Nanaimo real estate
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By Lynn Donn, Homes for Sale in Nanaimo BC
(Royal Lepage Nanaimo Realty)
What is your Departure Bay home worth? If you are wondering what your Departure Bay home is worth or what the real estate market is like in Departure Bay the following numbers may help. The real estate market in Departure Bay is the third most active in Nanaimo.  Following closely behind North Nanaimo in first place and South Nanaimo in second. In 2011 there were a total of 117 homes sold in the Departure Bay area. The prices ranged as follows:                           17 homes sold for between $250,000-$300,000                           38 homes sold for between $300,000 - $350,000                           25 homes sold for between $350,000 - $400,000                           15 homes sold for between $400,000 - $450,000                           11 homes sold between $450,000 - $50...
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By Douglas Belcher, RE/MAX, Nanaimo ABR ePRO SRES
(RE/MAX of Nanaimo)
There will be several open houses being held at Deerwood Estates modular home park. Deerwood is an upscale 55+ modular home park in North Nanaimo. The open houses will run from 1 - 3pm on Saturday Feruary 11th. If you are concidering selling your home and scaling back today would be a good day to meet several agents and look at the options available.
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By RhondaHeaslip NanaimoRealEstate
(RE/MAX of Nanaimo)
I just read this article by Larry MacDonald of Canadian Business In it he reviews five reasons why the housing market in Canada won't crash. I have to say he made a very strong case on all five. He certainly is bang on when talking about the differences in local markets. As a resident of Nanaimo, I immediately make the comparison with the insanely high prices in Vancouver and can agree with him whole heartedly.   Also of great note is the difference between Canadian and US housing markets with Canada having greater recourse rights and the fact that the subprime mortgage market was far less advanced in Canada. These are valid points that made a huge difference with regard to the last crash and how we Canadians fared as a nation.   At any rate I feel that this is a must read so am giving ...
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By RhondaHeaslip NanaimoRealEstate
(RE/MAX of Nanaimo)
Good News for Canada and the US According to the British Columbia Real Estate Association, things are looking bright on the horizon, on both sides of the border. Most certainly this is welcome news, so I must share it! Below is their latest take on things:   "Canadian Manufacturing and US Housing Starts - January 19, 2012" "Canadian manufacturing sales bounced 2 per cent higher in November, following an 0.8 per cent monthly decline in October. The gains were driven by higher sales in the petroleum and coal products industries along with strength in the auto sector. Total manufacturing sales were 1.7 per cent higher in volume terms.  Higher sales were reported in 80 per cent of the manufacturing sectors surveyed. Sales by BC manufacturing firms grew 0.9 per cent month over month in Novem...
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By Lynn Donn, Homes for Sale in Nanaimo BC
(Royal Lepage Nanaimo Realty)
How to sell your Nanaimo home in a buyers’ market I have reviewed the statistics that have come in from the Vancouver Island real estate Board.  In 2011 Nanaimo was experiencing a Buyer’s market in real estate.  It appears that trend will continue into 2012; at least for the first quarter. A buyers’ market is a real estate market that has more homes for sale than there are buyers to buy them. A buyer’s market is a wonderful thing for buyers because it means that they will have lots of choices when looking for a home.  From a sellers perspective a buyers’ market means that you are going to have more competition than you would normally have in a balanced market. If you have decided to sell your Nanaimo home this winter or spring there are some things you’ll need to do to help your home se...
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By Lynn Donn, Homes for Sale in Nanaimo BC
(Royal Lepage Nanaimo Realty)
The Diver Lake Neighbourhood in Nanaimo The Diver Lake neighbourhood in Nanaimo is a great, affordable family neighbourhood.  It is centrally located and is close to Beban Park and Country Club Shopping Centre.  There are a number of great parks and walking trails in the neighbourhood. Housing is in the mid-range for Nanaimo.  The areea has both new homes and more established homes Please visit my website for a list of homes for sale in the Divers Lake area .    
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By Lynn Donn, Homes for Sale in Nanaimo BC
(Royal Lepage Nanaimo Realty)
8 Reasons why your property won't sell I read an excellent blog post today, written by Alan May, Coldwell Banker Realtor® Evanston, Illinois   It was titled the 8 reasons your property won’t sell. I think he covered all the reasons why a house won’t sell so I have re-blogged his post, with his permission. 8 Reasons why your property won't sell 1. Your property won't sell because your photos are "less than impressive". Yep, this is an actual photo from our MLS, just came on brand-new this morning.  Apparently the place must be really awful, 'cause the agent didn't even dare step out of her car, to get close to the property so you could see any details. The vast majority of home buyers begin their search for a home on the internet, so your property had better look fantastic in print. Not ...
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By Lynn Donn, Homes for Sale in Nanaimo BC
(Royal Lepage Nanaimo Realty)
Real Estate in Nanaimo - Absorption rates for December 2011 The Nanaimo real estate statistics for December 2011 have been calculated.  One of the key indicators on how the Nanaimo real estate market is doing is the absorption rates. 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...
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By Lynn Donn, Homes for Sale in Nanaimo BC
(Royal Lepage Nanaimo Realty)
Nanaimo Real Estate market for the year 2011 – What sold and for how much? VIREB has calculated the Nanaimo real estate sales numbers for the year 2011.  Reviewing these numbers can help you to analyze 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 for their home. I hope the following figures and stats will assist both buyers and sellers navigate their way through their real estate transactions.  Below are the types of real estate sold in 2011 (source VIREB) in N...
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By Lynn Donn, Homes for Sale in Nanaimo BC
(Royal Lepage Nanaimo Realty)
Housing prices in Nanaimo The Vancouver Island Real Estate Board just calculated and published the average housing price per Nanaimo neighbourhood for 2011.  Please see the chart below. 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 what neighbourhoods are the most affordable for you. 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. Based on the information I have received from VIREB I have prepared a chart. The following chart is broken down by Nanaimo neighbourhood and lists the average selling price of homes sold over ...
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By Douglas Belcher, RE/MAX, Nanaimo ABR ePRO SRES
(RE/MAX of Nanaimo)
Lots of good deals out there for buyers this fall. Here are some of my offerings These are just 11 of the 1335 listings available. If you are looking to buy a home in Nanaimo give me a call. I am one of 2 ABR'S (Acdredited Buyers Representitives) in the city of Nanaimo. I have 7 years of exprience helping hundreds of clients. Douglas BelcherRE/MAX of Nanaimo Real Estate
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By Douglas Belcher, RE/MAX, Nanaimo ABR ePRO SRES
(RE/MAX of Nanaimo)
The average price of a single family home in the last 24 months has hovered around $350,0000 to $365,000. The prices rose lightly during June - Oct 2010 then fell off slightly during the winter but have stayed flat through 2011 (between $360,000 and $365,000). The inventory level is 514 homes listed similar to last year. The inventory levels for the last 7 years are as follows. 2005 - 426 2006 - 501 2007 - 460  2008 - 630 (high due to stock market crash) 2009 - 386 2010 - 521 2011 - 514   The number of homes for sale really is pretty normal compared to the last 6 years. The number of units sold Nov. YTD for the last 7 years however is much lower 2008 - 2011. I suspect with the 7 year average of 1357 we are probably going to see a slight increase in sales in 2012 somewhere in the 1200 ra...
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By Lynn Donn, Homes for Sale in Nanaimo BC
(Royal Lepage Nanaimo Realty)
Homes for sale in Divers Lake, Nanaimo   Homes in Divers Lake range in price from the mid $200's to the mid $400's on avearge.  Divers Lake is an affordable , central Nanaimo neighbourhood.  Divers Lake is central to shopping and recreation.  There are a number of parks and walking trails in the area.  If you would be interested in a current list of homes for sale in Divers Lake, please contact me.
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By Lynn Donn, Homes for Sale in Nanaimo BC
(Royal Lepage Nanaimo Realty)
Nanaimo real estate statistics- November 2011 The numbers are in! Here is a review of real estate in Nanaimo for the month of November, 2011.  Let’s have a look at some Nanaimo real estate statistics for last month. The Cumulative Residential Average Single Family Sale Price is up by 4% over November 2010.  The average sale price was $361,210 in November 2011 compared to $348,368 in November 2010. The following are the single family market changes for November 2011 compared with November 2010 -  There were 131 units listed this November compared to 124 units in November 2010.  There were 6% more homes listed this November compared to November 2010. -  11% fewer units were sold this November over November 2010 -  The average sale price per unit for November 2011 was 4% higher than Novemb...
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By Lynn Donn, Homes for Sale in Nanaimo BC
(Royal Lepage Nanaimo Realty)
Real Estate in Nanaimo - Absorption rates for November 2011 I have been reviewing the Nanaimo real estate statistics for November 2011.  I spent some time with my calculator calculating the real estate in Nanaimo absorption rates as of the end of November 2011.  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 November 2011 absorption rate is slightly higher than it was ...
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