Category: Uncategorized
How to Winterize Your Home
Protecting Your Nanaimo Property from Winter’s Chill Nanaimo’s winters can be unpredictable, bringing everything from mild, rainy days to occasional snowstorms and freezing temperatures. As local real estate professionals, we know how crucial it is to winterize your home, protecting your investment and ensuring comfort during the coldest months. Exterior Preparation Start by focusing on […]
November 2024 Market Stats
Beyond Vancouver – Investor Hotspots
It’s no surprise that Western Investor recently highlighted Nanaimo as a standout location for real estate investment. With strategic infrastructure developments, booming commercial projects, and a high demand for rental properties, Nanaimo is primed for growth, making it an increasingly attractive destination for investors seeking long-term returns. As leaders in Nanaimo Real Estate and 30 […]
Spring Market Arrives in the Fall
Fall Real Estate Market Update – Vancouver Island The big story right now is the Bank of Canada’s half-point interest rate cut. Dropping the overnight rate by 50 basis points As expected, the Bank of Canada cut its key interest rate by 50bps to 3.75% in its October 2024 decision, with plans to continue lowering […]
Olive Oil: A Must Have in Any Home Kitchen
Why Olive Oil is such a staple? Olive oil has long been a staple in kitchens worldwide, celebrated for its rich flavor and numerous health benefits. But there is more to this liquid gold than meets the eye. From the antioxidants that make it a superfood to the intricate process of harvesting and pressing olives, […]
Building Your Dream Home
Buying land and building your own home is a dream for many people. However, the process can be daunting, especially if you’ve never done it before. But don’t worry, with some research and careful planning, you can turn your dream into a reality. Here are some insightful steps to follow:
2023 Q1 Vancouver Island Market Intelligence Report
From my perspective, Early 2023 reminds me of 2019 when it became more challenging to qualify for a mortgage. Everyone was wondering if the market would pick up in the spring, and I must say that this year feels similar.
March 2023 Market Update
The average single family home price in Nanaimo held steady from January to February. February saw more buyers return to the market. While this resulted in a 30% increase in transactions compared to January, this is still a decrease of 40% from February of last year. The number of homes listed in February decreased by 9% month over month and 37% from February 2022. In this month’s market stats update we will look at what these changes in supply and demand could mean for the Nanaimo real estate market as we head towards the spring market.
Building For The Future – Passive Home Designs
In today’s world, it’s becoming increasingly important to design and construct homes that are energy-efficient and environmentally sustainable. One approach that’s gaining traction is passive home design, which relies on smart building techniques and cutting-edge technology to create homes that require minimal energy to heat and cool.
February 2023 Nanaimo Market Update
The first month of 2023 saw an increase to the average sale price in the Nanaimo single family and towhome real estate markets. The statistics VIREB released for January 2023 for the Nanaimo real estate market gives a good look at how the market has shifted exactly one year from the peak of the pandemic driven housing market. Economists have been predicting that the bottom of the market is a 20% decrease from the peak, which can already be seen in the Nanaimo single family home average price.
Canadian Foreign Buyer Ban
January 2023 marks the beginning of a 2-year foreign buyer ban on real estate in Canada. This foreign buyer ban was introduced by the Canadian government in an effort to increase the housing supply for Canadians. In theory, the decrease in demand from foreign buyers should increase the supply available to Canadians resulting in a decrease in housing prices, but are there enough foreign buyers exiting the market to make a substantial difference in Canadian real estate markets? What counts as a foreign buyer?
