The Nanaimo Real Estate Blog

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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Buy Real Estate with No Money Down! Is this a true statement? Yes, it is!

Just recently, I was sitting and listening to a speaker at a Keyspire convention in Toronto. They were talking about Joint Venture partnerships, talking about how everyone has assets. Someone's asset might be time, experience and management abilities, another might be construction, or of course, finances. 

Now, this isn't new news to me. I've learned it over and over at Real Estate Action Group meetings in Vancouver, but have never truly taken action.

I'm sitting there thinking... "Hey! I have an asset! I have loads of experience being a landlord, and I have plenty of knowledge and experience working with several investors. Why not me? I could build an empire of Real Estate

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by Chris Bush - Nanaimo News Bulletin
posted Jul 15, 2016 at 10:00 AM

Secondary suites are now the norm, not the exception, in new home construction as Nanaimo’s building boom continues through 2016.

The city recently reported a year-to-date figure of nearly $100 million in new construction permits taken out for the first half of 2016, a 12-per cent jump over the same period last year.

The dollar values of individual construction permits and their combined yearly totals have been rising since 2013.

Year-to-date residential single family dwelling permits account for more than $52 million, compared with just over $46 million for 2015, in spite of a slightly fewer single-family home starts: 156 this year versus 161 in 2015.

“Part of that is due

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The thought of selling your home over the winter doesn’t have to dampen your holiday spirit! In fact, there are many advantages to selling this time of year – and especially in Nanaimo right now, when we currently find ourselves in a sellers market. Our inventory is very low, and the majority of buyers are motivated, qualified - and plentiful. 

According to the just-released statistics package from The Vancouver Island Real Estate Board…

“November sales activity in the VIREB area dipped slightly from October, but rose significantly from one year ago, with the board on target to reach its forecasted sales for 2015. Last month, 351 single-family homes sold on the Multiple Listing Service® (MLS®) compared to 299 in November 2014, an increase of 17

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We were asked to contribute a guest blog post for Alair Homes in Nanaimo on the most crucial rooms to consider while building. Read our guest blog post as featured on their website below: 

As a leading custom home builder, Alair Homes Nanaimo is always tapped into the Nanaimo community and stays on the cusp of the latest trends in home building. Homes are also investment pieces, so we asked Karen Ayou to give us her opinion on what rooms should be carefully considered when building a custom home to best maximize your return. Karen Ayou is a second generation Realtor living in Nanaimo on beautiful Vancouver Island, and her keen passion for investment drives her to find the best properties for her clients.

Building your own home will be one of the

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