The Nanaimo Real Estate Blog

There’s nothing quite like handing over the keys to our buyers’ dream home! This is the EXCITING day for our clients – and it’s the one we live (and work so hard) for.

Possession differs from Completion, and they can often occur on separate days. Usually Possession will happen one day following Completion; to provide a buffer in case there is a delay in transferring ownership from the Land Title office.

On Possession Day, your team of professionals (like your financial institution and your lawyer) is hard at work behind the scenes to ensure that you get your keys on time. Once we (your realtor) receive the call that everything is ready – we’ll notify you right away!

In the purchase contract, it does state that possession will be given at a

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As originally published on vireb.com

See full statistics release here

FOR IMMEDIATE RELEASE
October 2, 2017

Housing Market Shows No Signs of Cooling

NANAIMO, BC – The Vancouver Island Real Estate Board (VIREB) reports that single-family home sales dipped in
September, down to 511 from last year’s 527, a decrease of three per cent. Sales declined by five per cent from
August, which saw 540 sales. However, VIREB attributes the slight decline in sales numbers to seasonal market
conditions and inventory challenges. There were only 1,233 single-family homes for sale in September, a decrease
of three per cent from 2016.

Strong economic fundamentals are underpinning housing activity in British Columbia, particularly in the southern
half of the

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As originally published on vireb.com

See full statistics release here

FOR IMMEDIATE RELEASE
October 2, 2017

Housing Market Shows No Signs of Cooling

NANAIMO, BC – The Vancouver Island Real Estate Board (VIREB) reports that single-family home sales dipped in
September, down to 511 from last year’s 527, a decrease of three per cent. Sales declined by five per cent from
August, which saw 540 sales. However, VIREB attributes the slight decline in sales numbers to seasonal market
conditions and inventory challenges. There were only 1,233 single-family homes for sale in September, a decrease
of three per cent from 2016.

Strong economic fundamentals are underpinning housing activity in British Columbia, particularly in the southern
half of the

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VIREB Housing Market Continues to Sizzle

originally published: http://www.vireb.com/

September 1st, 2017

NANAIMO, BC – The Vancouver Island Real Estate Board (VIREB) reports that single-family home sales dipped in
August, down to 540 from last year’s 622, a decrease of 13 per cent. Sales declined by three per cent from July,
which saw 557 sales. However, although fewer units are moving, the board attributes it to lack of inventory, not a
cooling market. There were only 1,349 single-family homes for sale in August compared to 1,395 last year, a
decrease of three per cent. Not enough supply is coming onto the market to keep up with demand, which results in
homes selling faster and for more money.


In its 2017 Third-Quarter Housing Forecast, the

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Release via the Vancouver Island Real Estate Board (VIREB)

FOR IMMEDIATE RELEASE

August 1, 2017

Low Inventory and High Demand Creating Brisk Sellers’ Market

NANAIMO, BC – The Vancouver Island Real Estate Board (VIREB) reports that single-family home sales dipped slightly in July, down to 558 from last year’s 605, a decrease of eight per cent. Sales were also down by approximately 10 per cent from June, which saw 618 sales. Despite fewer units moving, however, lack of inventory means homes are selling faster and for more money.

Inventory of single-family homes declined by 13 per cent from July 2016, with 1,367 active listings available last month compared to 1,575 one year ago. The number of single-family homes for sale has steadily

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(Via RE/MAX 2017)

As real estate prices remain high in Canada’s urban centres, young families are looking for unique ways to finance their dreams of recreational property ownership. In a recent survey conducted by Leger, more than a quarter (28 per cent) of Canadians with children under the age of 18 indicated they would consider selling their primary residence in the city in which they live in order to purchase a cottage, cabin or ski chalet. Other options that these potential buyers are willing to consider include fractional ownership in a shared property, purchasing a recreational property with a friend or family member, and renting out the recreational property they purchase on a vacation rental website such as AirBnB.

In a separate survey

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***spoiler alert - PIZZA is involved!***

Your decision is final – you’ve narrowed down your list of potential homes, and you’ll be moving soon. So how do you plan the move and break the news to your kids?

Whether you’re moving up the street, or relocating to another province, there’s no doubt that moving is a momentous life change. Although some stress during a move can be inevitable, here are our suggestions to help reduce the amount of anxiety associated with the move.

The Doan family during their move

Order Pizza – Call a family meeting and gather around the kitchen table to inform your kids of your moving plans. Encourage them to ask questions and express their feelings about the move. After all, better out than in, right? This gives

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October statistics just released from the Vancouver Island Real Estate Board (VIREB) demonstrate that home sale prices continue to rise. 

The benchmark price of a single-family home in the VIREB area was 393,700 in October 2016, up 16% from this time in 2015, with Nanaimo averaging an increase of 19%! Apartments rose in price approximately 18% across the board, and townhomes saw an increase of about 12% in the VIREB area.

What is contributing to these increases? BCREA's Chief Economist, Cameron Muir attributes a few factors; population growth being one (with over 8,000 people migrating to B.C. from other parts of Canada in the second quarter of this year!) B.C.'s GDP and employment growth having been above 3% for three years with GDP tracking at

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If you're even thinking of becoming a landlord, this article is a must-read! It's no secret that the Vancouver Island housing market continues to be affordable compared to the Lower Mainland and Victoria - and as a result, we're seeing savvy investors (both local and out-of-town) wisely snapping up investment properties in the Nanaimo area. 

We've shared this article from Realtor.com with you below. if you're even thinking of becoming a landlord, it's worth a read!

How to Become a Landlord - Do you have what it takes?

Cathie Ericson, Realtor.com 

In today’s hot housing market, rents are on the rise, which may have you wondering whether it’s time to consider becoming a landlord. After all, who doesn’t like the idea of raking in rent checks

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It’s considered common knowledge that the best time to sell your home is in spring. However, what many don’t realize, is that early-mid fall is considered by experts to be the second best time to put your home on the market.

Here are some of your direct advantages to listing your Nanaimo home this fall. 

Less Competition: In fall, we see far less competition from other sellers. Having less inventory on the market provides less choice for buyers; giving you the opportunity to have a quicker, profitable, and relaxed sale! 

Motivated Buyers: Our fall buyers are motivated. Busy with back to school and work schedules, they don’t have time to waste. Needless to say, they’re much less likely to waste yours! As well, they feel time ticking with the

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