Please visit our Open House at 6025 Driftwood Pl in Nanaimo.
Open House on Sunday, July 17, 2022 1:00PM - 3:00PM
North Nanaimo rancher. Vacant and ready for quick possession. This home is situated on a cul-du-sac and features 1358 sq ft living space including 3 bedrooms and 2 bathrooms. The main living area offers an open floor plan and provides an abundance of natural light. Off the kitchen and dining room, there is access to a large deck and fully fenced in backyard. The yard is equipped with garden beds, outbuilding, patio area, mature plantings and grassed areas. The primary bedroom looks out to the backyard and features an ensuite and large W/I closet. The additional 2 bedrooms located just down the hall. The property which includes a storage outbuilding, is on a flat 1/3 of an acre that backs on to a green space & creek for added privacy. Just seconds to major shopping centers, schools, neighbourhood parks and steps away from beach access. Two car garage with plenty of shelving is perfect for storage/workspace.
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I have sold a property at 848 Retegno Ave in Parksville.
------BEAUTIFUL PARKSVILLE RANCHER------Style, Comfort, & Convenience in One Fabulous Package! Spacious & bright 3 Bed/2 Bath Rancher on landscaped & fully-fenced .15 acre w/open concept, high-end fixtures/finishing, multiple skylights & generous use of glass, sun-soaked outdoor living space, & peaceful location a short walk away from Wembley Mall & mins to downtown shopping. Living Room w/OH cathedral ceiling & nat gas FP, Deluxe Kitchen w/skylights, island, breakfast bar, quality stainless appls, & pantry closet nearby. Dual French doors open to covered side patio that wraps around to large back patio w/south exposure, roll-down awning, & lovely view of fenced backyard w/perimeter gardens. Primary Bedroom Suite w/trayed ceiling, WI closet & 4 pc skylighted ensuite, also 2nd Bedroom, skylighted 4 pc Main Bath, Laundry Room w/door to Double Garage, & Office/Den w/hide-a-bed. Great extras, visit our website for more pics, floor plan, VR Tour & more.
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Royal LePage is forecasting that the aggregate price of a home in Canada will increase 5% in the fourth quarter of 2022, compared to the same quarter last year. The forecast has been revised downward from the previous quarter following more aggressive than expected interest rate hikes by the Bank of Canada, resulting in an expected temporary drop in demand in parts of southern Ontario and British Columbia. 

“Some of the heat that was driving the market cooled during the quarter as rising interest rates coupled with economic uncertainty undermined consumer confidence and pushed buyers to the sidelines,” said Phil Soper, president and CEO of Royal LePage. “We have significantly reduced our outlook for 2022, however home prices are still forecast to end the year higher than 2021 and well above pre-pandemic norms. Following record price gains across the country, numerous markets in southern Ontario and parts of Greater Vancouver – specifically those that saw some of the highest price appreciation over the last two years – experienced a second quarter decline. I expect this highly unusual downward movement in home values will be short-lived as the country’s chronic housing shortage has not been resolved.

According to the Royal LePage House Price Survey released today, the aggregateprice of a home in Canada increased 12.1% year-over-year to $815,000 in the second quarter of 2022. On a quarterly basis, the aggregate price of a home in Canada decreased 4.9% in the second quarter after reaching record year-over-year highs in Q1. This is reflective of softening home prices in markets that saw exceptional price growth during the pandemic. The second quarter of 2022 is the first quarter in more than three years (since Q1 2019) to post a quarter-over-quarter decline in home prices.

“We don’t expect to see much movement in housing values through the balance of the year,” added Soper. “Canada is experiencing strong growth in household formation, so positive economic news, such as a signal that rates have reached a level where inflation can be managed, should trigger a return to rising property values. The small percentage of consumers who purchased properties at 2022’s February/March peak will have seen a short-term decline in the value of their homes, but there is little doubt they will soon make up that lost ground.”

When broken out by housing type, the national median price of a single-family detached home rose 12.4% per cent year-over-year to $859,500, while the median price of a condominium increased 12.2% year-over-year to $589,000. 

Source

Read Royal LePage’s second quarter release for national and regional insights. 

Second quarter press release highlights:

  • National aggregate home price increases 12.1% year-over-year in second quarter of 2022; decreases 4.9% quarter-over-quarter.
  • Royal LePage reduces national home price forecast to +5.0% in fourth quarter of 2022; expects home prices to hold relatively flat through the second half of the year in greater regions of Toronto and Vancouver. Greater Montreal Area expected to see continued price appreciation.
  • An uneven market recovery is expected as some regions experience continued price appreciation, while others soften.
  • Interprovincial migration to affordable real estate markets supports home price growth in Alberta, Prairies and Atlantic Canada.
  • Royal LePage cautions policy makers that growing inventory is masking an acute urgency to solve Canada’s housing supply crisis.

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I have listed a new property at 664 Middlegate Rd in Errington.
ENGLISHMAN RIVER ESTATES This Tranquil, Serene & Peaceful setting awaits you in this lovingly cared for 1614 sq ft 3 Bdrm 2 Bath Rancher built on a crawlspace on a very private fully fenced, gated & gorgeous 2.59 acres. Located at the end of a no through road, surrounded by the natural beauty of the area & within walking distance to a river. The parklike acreage offers a variety of nature trails, beautiful outdoor living spaces with 2 large decks, a Gazebo, lots of sunshine, raised garden beds, a large lined irrigation pond & a Koi pond in the front with a water feature. The home is setback quite a long distance from the road for added privacy & is secured by a gate & a security System. Nicely designed with an 11 foot vaulted ceiling in the Great Room, a well laid out Kitchen with an Island & Pantry. All the rooms are a generous in size & there are numerous large windows that allow an abundance of natural light to fill the already bright living spaces. This one is truly a winner!
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I have listed a new property at 3607 Ranch Point Rd in Nanaimo.
Spectacular North Jinglepot Acreage. This phenomenal 1.88 acre property features a sprawling rancher, spacious 3 car garage, 2 bedroom guest house, in ground swimming pool, pool house with plumbing, hot tub and so much more. The main home boasts 2500+ square feet, with 4 generous bedrooms and 3 beautiful bathrooms, gleaming hardwood floors and oversized windows. The gourmet kitchen features skylights, top quality stainless appliances, inset lighting and large island. Adjacent to the kitchen is the dining room, with it's double french doors leading out to the generous partially covered patio, perfect for entertaining. The primary suite has a stunning ensuite with a seamless glass shower and quartz countertops. Outside there is an inground swimming pool and hot tub with a deck surround, as well as a pool house and spacious decks. Additionally, there is a beautiful 2 bedroom guest house with vaulted ceilings and wrap around deck. All of this on a landscaped acreage in a coveted location.
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Please visit our Open House at 3607 Ranch Point Rd in Nanaimo.
Open House on Saturday, July 9, 2022 10:00AM - 1:00PM Join up for an open house tomorrow 10am-1pm.
Spectacular North Jinglepot Acreage. This phenomenal 1.88 acre property features a sprawling rancher, spacious 3 car garage, 2 bedroom guest house, in ground swimming pool, pool house with plumbing, hot tub and so much more. The main home boasts 2500+ square feet, with 4 generous bedrooms and 3 beautiful bathrooms, gleaming hardwood floors and oversized windows. The gourmet kitchen features skylights, top quality stainless appliances, inset lighting and large island. Adjacent to the kitchen is the dining room, with it's double french doors leading out to the generous partially covered patio, perfect for entertaining. The primary suite has a stunning ensuite with a seamless glass shower and quartz countertops. Outside there is an inground swimming pool and hot tub with a deck surround, as well as a pool house and spacious decks. Additionally, there is a beautiful 2 bedroom guest house with vaulted ceilings and wrap around deck. All of this on a landscaped acreage in a coveted location.
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Please visit our Open House at 2599 Powder Point Rd in Nanoose Bay.
Open House on Sunday, July 10, 2022 1:00PM - 3:00PM Hosted by Sharon Whitehead of Royal LePage
Are you looking to put your own renovating & decorating skills to work on a large home with a great lot size, just steps to Red Gap, Nanoose Elementary, & a hop, skip & jump from Fairwinds golf & the wellness club? Easy commute to either Parksville & points north, or to Nanaimo with quick access to Highway 19. This home has 4 spacious bedrooms & 2 full bathrooms, a 2 car garage plus carport & room to build a shop too! Enjoy the established fruit & nut trees plus the grape vine & revive the fenced garden here for your own mini-homestead. Pop down to the local farms to buy your food if that's more your style. The living room is the star of this show with super high ceilings & massive fireplace that will easily hold all of your family Christmas stockings. Cute office nook, mud room entry with adjoining laundry all make this the perfect home for someone looking for plenty of space. Lot size from BC Assessment & room measurements from Oceanside Home Pix. Buyer to verify if critical.
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No matter what’s going on in the housing market, the process of selling a home can be challenging. Some struggle to say goodbye to a treasured family home. Others want to skip ahead to the fun of decorating and settling in a new place. Almost all sellers want to make the most money possible. And with changing market conditions, local information and advice is more important than ever! 


Whatever your circumstances, the road to the closing date can be riddled with obstacles — from issues with showings and negotiations to inspection surprises. But many of these complications are avoidable when you have a skilled and knowledgeable real estate agent by your side. 


For example, here are seven common mistakes that many home sellers make. These can cause anxiety, cost you time, and shrink your financial proceeds.  
Fortunately, we can help you avoid these missteps and set you up for a successful and low-stress selling experience instead. 
 
MISTAKE # 1: Setting An Unrealistic Price 


Many sellers believe that pricing their home high and waiting for the “right buyer” to come along will net them the most money. However, overpriced homes often sit on the market with little activity, which can be the kiss of death in real estate — and result in an inevitable price drop.Longer days on market bring out the bargain hunters! 

Alternatively, if you price your home at (or sometimes slightly below) market value, your home can be among the nicest that buyers have seen within their budget. This can increase your likelihood of receiving multiple offers or just selling in a timely manner.2 

To help you set a realistic price from the start, we will do a comparative market analysis, or CMA. This integral piece of research will help us determine an ideal listing price, based on the amount that similar properties have recently sold for in your area. 

Without this data, you risk pricing your home too high (and getting no offers) or too low (and leaving money on the table). We can help you find that sweet spot that will draw in buyers without undercutting your profits. 
 
MISTAKE #2: Trying To Time The Market 

You’ve probably heard the old saying: “Buy low and sell high.” But when it comes to real estate, that’s easier said than done.  
Delaying your home sale until prices are at their peak may sound like a great idea. But sellers should keep these factors in mind: 

  1. Predicting the market with certainty is nearly impossible.
  2. If you wait to buy your next home, its price could increase, as well. This may erode any additional proceeds from your sale.
  3. If mortgage rates are rising, your pool of potential buyers could shrink—and you will have to pay more to finance your next purchase.

Instead of trying to time the market, choose your ideal timeline, instead. This may be based on factors like your personal financial situation, shifting family dynamics, or the seasonal patterns in your particular neighbourhood. We can help you figure out the best time to sell given your individual circumstances.
 
MISTAKE #3: Failing To Address Needed Repairs  

Many sellers hope that buyers won’t notice their leaky faucet or broken shutters during a home showing. But minor issues like these can leave buyers worrying about more serious — and costly — problems lurking out of sight.  

Even if you do receive an offer, there’s a high likelihood that the buyer will hire a professional home inspector, who will flag any defects in their report. Neglecting to address a major issue could lead buyers to ask for costly repairs, money back, or worse yet, walk away from the purchase altogether. 

To avoid these types of disruptions, it’s important to make necessary renovations before your home hits the market. We can help you decide which repairs and updates are worth your time and investment. In some cases, we may recommend a professional pre-listing inspection.  

This extra time and attention can help you avoid potential surprises down the road and identify any major structural, system, or cosmetic faults that could impact a future sale.3
 
MISTAKE #4:  Neglecting To Stage Your Home 
Staging is the act of preparing your home for potential buyers. The goal is to “set the stage” for buyers to help them envision themselves living in your home. Some sellers opt to skip this step, but that mistake can cost them time and money in the long run. A 2021 survey by the Real Estate Staging Association found that, on average, staged homes sold nine days faster and for $40,000 more.4 

Indoors, staging could include everything from redecorating, painting, or rearranging your furniture pieces to removing personal items, decluttering, and deep cleaning. Outdoors, you might focus on power washing, planting flowers, or hanging a wreath on the front door. 

You may not need to do all of these tasks, but almost every home can benefit from some form of staging. Before your home hits the market, we can refer you to a professional stager or offer our insights and suggestions if you prefer the do-it-yourself route.
 
MISTAKE #5: Evaluating Offers On Price Alone 

When reviewing offers, most sellers focus on one thing: the offer price. And while dollar value is certainly important, a high-priced offer is worthless if the deal never reaches closing. That’s why it’s important to consider other factors in addition to the offer price, such as: 

  • Financing and buyer qualifications
  • Deposit size
  • Contract conditions or “subjects”
  • Closing date

Depending on your circumstances, some of these factors may or may not be important to you. For example, if you’re still shopping for your next home, you might place a high premium on an offer that allows for a flexible closing date. 
Buyers and their agents are focused on crafting a deal that works well for them. We can help you assess your needs and goals to select an offer that works best for you. 
 
MISTAKE #6: Acting On Emotion Instead Of Reason  

It’s only natural to grow emotionally attached to your home. That’s why so many sellers end up feeling hurt or offended at some point during the selling process. Low offers can feel like insults. Repair requests can feel like judgments. And whatever you do — don’t listen in on showings through your security monitoring system. Chances are, some buyers won’t like your decor choices, either! 

However, it’s a huge mistake to ruin a great selling opportunity because you refuse to counter a low offer or negotiate minor repairs. Instead, try to keep a cool head and be willing to adjust reasonably to make the sale. We can help you weigh your decisions and provide rational advice with your best interests in mind.
 
MISTAKE #7: Not Hiring An Agent 

There’s a good reason 90% of homeowners choose to sell with the help of a real estate agent. Homes listed by an agent sold for 22% more than the average for-sale-by-owner home, according to a recent study.5 

Selling a home on your own may seem like an easy way to save money. But in reality, there is a steep learning curve. And a listing agent can:  

  • Skip past time-consuming problems 
  • Use market knowledge to get the best price
  • Access contacts and networks to speed up the selling process

If you choose to work with a listing agent, you’ll save significant time and effort while minimizing your personal risk and liability. And the increased profits realized through a more effective marketing and negotiation strategy could more than make up for the cost of your agent’s commission. 

We can navigate the ins and outs of the housing market for you and make your selling process as stress-free as possible. You may even end up with an offer for your home that’s better than you expected.
 
BYPASS THE PITFALLS WITH A KNOWLEDGEABLE GUIDE 

Your home selling journey doesn’t have to be hard. When you hire us as your listing agent, we’ll develop a customized sales plan to help you get top dollar for your home without any undue risk, stress, or aggravation. If you’re thinking of buying or selling a home, reach out today to schedule a free consultation and home value assessment.  
 

Sources:

  1. Realtor.ca -
    https://www.realtor.ca/blog/postpage/2666/1362/the-importance-of-having-a-realtor%C2%AE-price-your-home/  
  2. Royal Bank of Canada -
    https://www.rbcroyalbank.com/mortgages/sellers-vs-buyers-market.html
  3. Canadian Association of Home & Property Inspectors -
    https://www.cahpi.ca/en/blog/3-reasons-you-should-hire-a-cahpi-inspector
  4. Real Estate Staging Association -
    https://www.realestatestagingassociation.com/content.aspx?page_id=22&club_id=304550&module_id=164548
  5. National Association of Realtors -
    https://www.nar.realtor/research-and-statistics/quick-real-estate-statistics
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I have listed a new property at 628 Redwood Dr in Qualicum Beach.
Spacious rancher in the desirable Evergreens in Qualicum Beach. This 2 bedroom plus den/ 3 bathroom home is close to amenities. Located within walking distance to the Qualicum Downtown, Eaglecrest Golf Course, and beaches, with various walking/biking paths nearby. The spacious interior is open and inviting and offers an abundance of natural light. The carpets are in great condition and the home has just had a fresh coat of paint. In the living room there is a gas fireplace with a feature river rock fireplace/mantle with patio doors opening to the backyard and deck. The backyard offers full privacy with garden ledge, and a large deck area with access off the main living area. With a little vision it could be a private backyard oasis. There is also a storage shed and lots of room for boat/recreational vehicle parking at the front and side of the home.
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MLS® property information is provided under copyright© by the Vancouver Island Real Estate Board and Victoria Real Estate Board. The information is from sources deemed reliable, but should not be relied upon without independent verification.