Congratulations to Derek Gillette for the prestigious recognition and being ranked and awarded as one of the top producers in Canada and Internationally within the RE/MAX network of over 123,000 plus Realtors in over 100 countries worldwide, through the RE/MAX International Network!
Guideline B-20 Stress test continues to impact housing sales in BC but Vancouver Island is a bit more sheltered. The Vancouver Island Real Estate Board, which stretches from North of the Malahat on Vancouver Island, reported sales of single-family homes in February dropped by 28% year over year but were up 10% from January.
Spring is finally in the air and it’s the perfect time to get your home looking its best for when our gorgeous Vancouver Island weather arrives! Start checking off our to-do list to get your home looking shipshape for Spring!
Despite lower demand year-over-year benchmark prices of single-family homes continue to rise board-wide, up around nine per cent from January 2018. Price increases in individual markets ranged from five per cent in Nanaimo to 17 per cent in Port Alberni. Although Vancouver Island has felt the effects of the mortgage stress test. Also referred as Guideline B-20. The toll on single-family housing sales throughout the province in January dropped by 28 per cent from one year ago, albeit they did rise by 23 per cent from December 2018. General demand is lower while potential Buyers adjust however there still is very little supply in active price points keeping the markets somewhat balanced.
Nanaimo residents have long awaited an alternate option of getting to the Mainland in an affordable and timely way. The dream of a high-speed commuter passenger ferry service between downtown Nanaimo and a berth at the SeaBus terminal at the Waterfront Station in downtown Vancouver is finally looking like a reality!
Annual sales of single-family homes in 2018 totalled 4,543, a 19 per cent drop from 2017. However, this reduction reflects the market returning to more normal levels after the robust housing markets witnessed in 2016 and 2017.
Government policy-side measures introduced to cool the market, such as the mortgage stress test (Guideline B-20), eroded the purchasing power of some prospective home buyers by as much as 20 per cent. Despite lower demand, however, year-over-year benchmark prices of single-family homes continue to rise board-wide, up 10 per cent from December 2017.
When you're selling your home, you want to ensure it’s picture perfect for potential buyers who walk through the door. That is where the important art of home staging comes in.
Sales of single-family homes in November on Vancouver Island declined by 28 per cent from one year ago and were 21 per cent lower than in October. Last month, 305 single-family homes sold on the Multiple Listing Service® (MLS®) System compared to 384 in October and 426 one year ago. Modest inventory increases are helping The Vancouver Island Real Estate market transition from one favouring sellers to a balanced or near-balanced market. Active listings of single-family homes have dropped each month since hitting this year’s high of 1,418, which occurred in July.
Wintertime is not typically when one thinks about shopping for a new home or selling a current residence. Most people are cozy in their homes baking cookies, planning family festivities and getting ready for the upcoming holiday season. Don’t let this month pass you by if you are wanting to buy or sell! There are so many wonderful winter opportunities to be had!
The idea of shopping for Christmas gifts for loved ones can be a daunting task even for the most seasoned shoppers amongst us. Let us help you with some ideas we have gathered that are sure to be enjoyed by even the most difficult on your holiday shopping list! These are some very practical and fun presents that are guaranteed not to be dust collectors!
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