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Nanaimo, BC Real Estate News

By Jan Laurie
(JL Residential Styling & Staging)
Jan and Cindy of CoOperative Design Home Staging & Interior ReDesign invite you to see our newest staging. 822 Lakes Blvd. is a unique 2-bedroom townhouse. Can you imagine having your morning coffee and breakfast looking out onto the 13th hole of the golf course??!! It doesn't get any lovelier. The listing agent is Ian MacKay with Coast Realty in Parksville, British Columbia, Canada.
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By Douglas Belcher, RE/MAX, Nanaimo ABR ePRO SRES
(Chateau Realty)
While higher housing values and tight inventory levels have hampered home-buying activity so far this year, longer amortization periods and alternative housing types have offset the impact on most major markets across the country, according to a report released today by RE/MAX. Despite a higher degree of frustration in the marketplace than in previous years, the RE/MAX Affordability Report found that first-time buyers, in particular, remain steadfast in their determination to purchase a home. In fact, entry-level purchasers are adjusting their expectations by sacrificing size, location, and even long-term financial freedom, to overcome challenges such as rising prices and serious supply issues.  Innovative financing has become key to homeownership in today's environment - with longer am...
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By Michael Peterson
(RE/MAX of Nanaimo)
Now that the Easter holiday's and Spring break have come and gone, Spring is officially here! In Nanaimo, the Multiple Listing Service® (MLS®) sales summary data released by the Vancouver Island Real Estate Board (VIREB) for March 2008, shows a drop in unit sales with average sale price increases. The average sale price across the VIREB region for March 2008 was $338,846. This is an 8 per cent increase from the $313,560 posted at the end of March 2007. Unit sales volume increased slightly from the end of February 2008 to the end of March 2008, but dropped approximately 30% from March 2007. It's a balanced market with plenty to choose from and we're seeing more and more interest from elsewhere in Canada. As always, proper pricing continues to be key in this marketplace and our prices con...
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By Douglas Belcher, RE/MAX, Nanaimo ABR ePRO SRES
(Chateau Realty)
  Just Listed, this large central Nanaimo home is perfect for those looking for a home they can build some sweat equity. The home features oak hardwood floors and coved ceilings and a wood burning fireplace. The basement is unfinished except for the fourth bedroom but offers a world of opportunity to finish it the way you want. The home has a the convienience of a central location close to shopping, schools and the hospital. The mature landscaping needs some TLC to bring it back. Most of the homes in this area that are main level entry are half the size. There is rear access to the home from Girvin Ave. Nanaimo Real Estate  
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By Douglas Belcher, RE/MAX, Nanaimo ABR ePRO SRES
(Chateau Realty)
JUST LISTED in Cedar Grove Estates! - This is a gorgeous completely renovated 2 bedroom 2 bath plus den town home in North Nanaimo. This ground floor unit has been finished top to bottom. New paint, counter tops light fixtures, black and stainless steel appliances, flooring, garden shed and much much more. If you are tired of looking at dated worn out listings come and be refreshed; there is no pink in this unit! Fresh modern colours give this home a very warm and contemporary look. This would suit a young couple starting out or retirees that are scaling back. Pets and rentals are allowed but with restrictions (see strata bylaws). Don't miss this one...over $20,000 spent in renovations, there is nothing to do but move in and make you self at home. This is a must see and will not last l...
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By Michael Peterson
(RE/MAX of Nanaimo)
Michael hosted his 2008 Client Appreciation Evening on Friday, March 28th at Gallery 223 downtown Nanaimo where wine, art and jazz were enjoyed by all. The Gallery was a wonderful host with plenty of old and new artist's work on display. The Wellington Jazz Trio played beautifully in the corner while clients mixed and mingled enjoying a glass of wine from a local brewery called Wine Works. Several door prizes were won by the attending guests including art from the Gallery, gift certificates, and wine with stem wear. A good time was had by all and we look forward to next year's event.
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By Douglas Belcher, RE/MAX, Nanaimo ABR ePRO SRES
(Chateau Realty)
JUST LISTED in Eaglepoint Villas! - A quiet & well maintained 2 bedroom, 1 bathroom town home. The complex was developed by Windley Construction. This very main level entry home is close to shopping, parks and all amenities. It has lots of storage in its heated four foot crawl space. This unit has a 4pc cheater en-suite and walk-in closet. The living room has a gas fireplace, and a view of the garden area. No yard work to do here, just relax and enjoy your home. What a great place to retire or start out. No stairs & no one on top of you. A great neighbourhood to raise children or just take a long walk. This is a must see and will not last long. Pets are allowed (subject to strata approval, see bylaws). Call Douglas Belcher for private viewing 250-619-6012. See my all my Nanaimo real est...
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By Douglas Belcher, RE/MAX, Nanaimo ABR ePRO SRES
(Chateau Realty)
Real Estate Market Residential real estate markets across Canada post solid gains over past decade, says RE/MAX Pent-up demand, population growth, tight inventory levels, and the longest economic expansion since World War II collectively fueled one of the best decades on record for residential real estate in Canada, according to a report released by RE/MAX. RE/MAX Decade in Review 1997 - 2007 found that major housing centres across the country experienced strong consecutive growth between 1997 and 2007. Average price spiraled upward while unit sales climbed in tandem as more and more Canadians bought into home ownership. Nationally, average price almost doubled in the 10-year period, rising from $154,606 in 1997 to $307,265 in 2007, for a 7.1 per cent annually compounded rate of return....
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By Douglas Belcher, RE/MAX, Nanaimo ABR ePRO SRES
(Chateau Realty)
(MLS®) annual sales summary data released by the Vancouver Island Real Estate Board (VIREB) for February 2008, shows unit sales are down 12 percent while the average sale price increased 11 percent. The average sale price across the VIREB region for February 2008 was $346,648. This is an 11 per cent increase from the $313,207 posted at the end of February 2007. President Subhadra Ghose says the volume of listings continues to grow.  "We are heading into the spring season, which is a traditionally busy time. As a result we are seeing an increase in listings and we're expecting a more balanced market going into the rest of 2008." Unit sales volume at the end of February 2008 was down 12 per cent from February 2007. For the period from the end of February 2007 to February 2008, average sal...
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By John Cooper
(RE/MAX of Nanaimo)
The city of Nanaimo has been working to revitalize the downtown area for a while now, and I can honestly say that  it is starting to come around. As the convention centre nears completion I can finally start to imagine the vibrant downtown feel that the harbour city will have when those retail shops are full of quality retailers.  I live and work in Downtown Nanaimo, and I am happy to report that this "Old City" of Nanaimo is well on its way to reliving its glory days! More to Come on the revitalization or Downtown Nanaimo in future entries.
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By Douglas Belcher, RE/MAX, Nanaimo ABR ePRO SRES
(Chateau Realty)
OTTAWA, Ontario, March 04, 2008 - The Bank of Canada today announced that it is lowering its target for the overnight rate by one-half of one percentage point to 3 1/2 per cent. The operating band for the overnight rate is correspondingly lowered, and the Bank Rate is now 3 3/4 per cent.Information received since the January Monetary Policy Report Update (MPRU) indicates that economic growth in Canada through the four quarters of 2007 was broadly in line with expectations. Domestic demand has remained buoyant, as rising commodity prices and high employment have continued to support income growth. Canada's net exports weakened further in the fourth quarter, reflecting the slowing U.S. economy and the impact of the past appreciation of the Canadian dollar. Overall, the Canadian economy re...
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By Douglas Belcher, RE/MAX, Nanaimo ABR ePRO SRES
(Chateau Realty)
I have made it even easier to locate where in Nanaimo my real estate listings are located. You can view a map built into the listing page that is dynamic (you can view either as a satellite view or as a map).You can click on green points to see active listings or red points to view sold listings. Each point when clicked has a small pop up with the property description and a photo of the home.   To see a larger version of my Nanaimo Real Estate listings map go to www.DougBelcher.com View Larger Map
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By Michael Peterson
(RE/MAX of Nanaimo)
Consumers and real estate professionals alike are happy to see that Nanaimo's housing market is continually climbing and holding strong. Vancouver Islands Real Estate Board number's show:Average sale price of a single family home is up 8% from one year ago, from $319,000 to $346,000 (roughly).Unit sales are up from 107 in August 2006, to 152 August 2007.These numbers are due to availability of listings, low interest rates aiding in affordability, and consumer confidence. Although the average price of a home in Nanaimo may seem high at $346,000, our prices are still good compared to the rest of BC, particularly Vancouver. The Vancouver Island Real Estate Board says they anticipate further increases in months ahead so now is the time to by.
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By Michael Peterson
(RE/MAX of Nanaimo)
A house foundation must be designed and constructed to carry the house load as well as protect against external forces. Besides supporting the weight of the house it acts as a retaining wall to hold back those forces of soil and water. The foundation wall itself must be strong to withstand this external force or it will crack and shift. When a wall is overloaded from pressure such as frost heave, saturated soil, improper back filling, or other conditions, it can move laterally and bow inward often cracking. Deep foundations with constructed with concrete blocks are particularly vulnerable. To help avoid excessive external pressure against a finished foundation, grading and drainage should be maintained to direct all water flow around and away from the home. Significant movement of a fou...
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By Michael Peterson
(RE/MAX of Nanaimo)
Built Green BC is a program offered to builders by the BC division of the Canadian Home Builders Association which has been in existence for nearly 2 years. In order to build a ‘built green home', you have to be a registered and trained contractor. On Vancouver Island there is only but a handful. The fundamentally sound program will cost the home owner a bit more initially but will result in savings for them down the road. To register a home under the program an independent energy auditor comes out to evaluate the home and puts an EnerGuide label on the house. The actual results of the test will determine the final EnerGuide rating and the subsequent level of achievement in ‘built green'. Builders and consumers can choose from three "built green" achievement levels: Bronze represents th...
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By Michael Peterson
(RE/MAX of Nanaimo)
The mortgage meltdown that's so drastically hitting the American Real Estate marketplace is going to have only a slight impact on the Canadian market - according to our resident mortgage authority Moira Steele.In a nutshell, the mortgage collapse south of the border is going to have only a slight effect on its Canadian counterparts - due mainly to the type of mortgages involved. The so-called "Sub Prime Mortgages" at the heart of the American crises are essentially mortgages lent with little or no actual collateral, given to individuals with sketchy at best financial backgrounds. The end result of all this has been massive numbers of default mortgages, with the result that some 90 American financial institutions have been forced out of business. In the US, sub prime mortgages represent ...
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By Douglas Belcher, RE/MAX, Nanaimo ABR ePRO SRES
(Chateau Realty)
        $362,900 NorthNanaimo 5282 Nelsonwoods Place This is a one year old, gorgeous three bedroom town home built by Blair Duek. This complex is a masterpiece of comfortable living. Everything Blair has learned from making town homes in Nanaimo has gone into this complex. Set in a wooded area close to shopping and other ammenities.     $144,900 South Nanaimo #316-30 Cavan Street This third floor large 1 bedroom condo in the heart of Nanaimo offers safe, quiet downtown Nanaimo living with all the amenities of city life. Shopping, the Port Theatre, restaurants, the library and the sea wall are all steps away. One underground parking space included.    
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By Michael Peterson
(RE/MAX of Nanaimo)
Nanaimo is becoming one of the most popular places to live, work, and play on Vancouver Island. This trend is due to Nanaimo's comfortable climate, flourishing job market, and affordable real estate. Many young families are also choosing the city for its excellent school system, and expanding facilities at Malaspina University-College. Not to mention the senior population look to retire to our island paradise. The Harbour City is well connected to the lower mainland and international markets acting as a transportation hub with extensive ferry and air service. The city also has a thriving port facility operated by the Nanaimo Port Authority, which regularly harbours international container and cruise ships.Steady growth in recent years has helped diversify Nanaimo's economy, and boosted ...
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By Shawn McDonald
(Royal LePage Nanaimo Realty)
How to Get Top Dollar for your Home, Fast!  Your home is likely your largest asset, so selling it may be the biggest financial move you've ever made, one that requires significant thought and strategy.  However, once you've entered the market, the process may move very quickly:  your property has the best chance to sell within its first seven weeks on the market.  Studies indicate that the longer a property stays on the market, the less it will ultimately sell for.  So, you need to ensure you're ahead of the game.  Get your property into top selling shape before it hits the market in order to increase its chances of selling within the desired window of time and drawing top dollar. Use the following tips to seize control of the home-selling process before you begin: 1. Establish the Reas...
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By Michael Peterson
(RE/MAX of Nanaimo)
Charming rancher with tons of updates! This 956 sqft, 2 bedroom, 1 bath home offers new electrical, brand new fully renovated bathroom, new thermal windows, new baseboard heaters and a 2 year old roof. Plus a detached studio/workshop/office which is fully wired with storage on one side, and a bedroom on the other! Not to mention the big 8712 sqft lot that is completely private with fruit trees. This home is close to shopping, amenities and on the bus route.
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