5 Things That Can Turn Off Buyers, RE/MAX of Nanaimo, Nanaimo Real Estate

4 Things That Can Turn Off Buyers

You’ve made the decision to sell your home and now you’re waiting for the perfect buyer to come through the door. But what are four things that can turn off buyers? Although the list could be much longer, here are four things that can turn people off.

Things that can turn off buyers

  1. Live animals.

You love your animals – they’re family after all. But not everyone feels the same. If you have pets that usually roam the house, either remove them during times when the property is being shown, or at the very least, ensure they are in a crate, cage or pet carrier of some sort. Your pets don’t know the people entering your home, so it’s important they are secured, especially dogs and cats. Be sure to also air out the home so that pet odors are not obvious.

  1. Mystery rooms.

Rooms that are kept locked or are inaccessible to potential buyers may cause some worry or concern as to what is going on in there. If you need to secure personal belongings, either put them in the crawl space or a locked garden shed, or even an off-site storage facility temporarily. Buyers want to see the whole house and it may deter some people if they are unable to view every room.

  1. Sports memorabilia.

You’re an avid fan, and there’s nothing you love more than your local team. But since you’ll be moving anyway, put the memorabilia in boxes so that buyers can view the room, rather than your collection of autographed baseballs or signed hockey sticks.

  1. Bad smells.

If there are any kind of lingering odors, whether it’s pet related, cooking odors, or smoke of any kind, make sure your home is as fresh and clean as possible. If your pets have soiled the carpets, have them professionally cleaned. If you love to cook with certain pungent spices, make sure you don’t do it when you know someone’s coming to look at the house. And stop smoking in the house while it’s listed for sale. Smoke can get into every soft surface, so a thorough cleaning may be required to completely eliminate the smell.


If you’re ready to sell your home, call one of our expert real estate agents at RE/MAX of Nanaimo today, at (250) 751-1223. They can help you decide on the best way to showcase your home to increase the chance of a quick sale.

Canada's Housing Market Outlook For 2017, Nanaimo Real Estate, RE/MAX of Nanaimo

Canada’s Housing Market Outlook For 2017

Housing Market for Greater Vancouver and Toronto

Vancouver and Toronto continue to be characterized by high demand and low housing market supply in 2016, with competition pushing prices higher due to limited inventory.

Greater Vancouver experienced a 13 per cent increase in the average residential sale price to $1,020,300, while the Greater Toronto Area (GTA) saw an increase of 17 per cent, to $725,857. In the short term, these two markets may soften slightly due to the recent changes to mortgage rules and the new 15 percent foreign-buyer tax in Vancouver. In 2017, RE/MAX estimates prices in Vancouver will increase by about two percent, while the GTA may see an eight per cent upswing.

Other regional markets located in close proximity to Canada’s highest price cities continue to benefit from interest from both move-up buyers, and from buyers moving out of the high price cities (move-over buyers). Several areas experienced double digit increases in year-over-year average prices including:

  • Barrie – 16%
  • Hamilton-Burlington – 20%
  • Fraser Valley – 20%
  • Kelowna – 14%

The new 15 per cent foreign-buyer tax in Vancouver has softened the market somewhat and as price appreciation declines in Vancouver, some potential sellers are now staying in the Lower Mainland. Both the GTA and Montreal are experiencing the ripple effect of the foreign-buyer tax as foreign investors are now looking in these areas, rather than Vancouver.

Housing Market Prairies and Maritimes

Calgary and Edmonton both saw moderate declines in the number of sales and the average residential sale price. This is due to the prolonged recovery of the oil sector in the past couple of years. Average residential sales prices dropped by two per cent in 2016, year-over-year, in Edmonton, while Calgary saw a decrease of about four per cent in the average residential sale price. If employment opportunities in the oil sector continue to slowly return to Alberta, buyer activity is expected pick up slightly in the second half of 2017.

Various regions such as Regina, Montreal, Saint John and St. John’s continue to be affected by high inventory, with a good selection of homes for first-time and move-up buyers. Local infrastructure projects and initiatives, like Montreal’s 375th anniversary celebrations, may boost the economies and real estate markets next year.

How important is home ownership to Canadians?

In a recent RE/MAX survey conducted by Leger, 53 per cent of respondents indicated they intend to purchase a home, and 47 per cent intend to do so within the next 5 to 10 years. Nearly a third of Canadians (30 per cent) are planning to purchase a home as an investment strategy, aimed at helping to fund their retirement, and 42 per cent of millennial respondents see purchasing a home as a retirement funding strategy.

A segment of Canadians would also consider unconventional ways of financing their home ownership:

  • 33% would consider buying a home with a family member
  • 15% would rent a room out on a vacation rental site such as Airbnb
  • 22%would rent out a room in their home
  • 9% would consider purchasing a home with a roommate

For more detailed information about what’s happening across the country, go to RE/MAX.ca.


If you’re interested in moving to, or moving within the Nanaimo area, call RE/MAX of Nanaimo today at (250) 751-1223 and one of our well-qualified agents will be happy to assist.

10 Qualities Of A Great Real Estate Agent, RE/MAX of Nanaimo, Leading Real Estate Brokerage

10 Qualities Of A Great Real Estate Agent

Sometimes it seems like there are a lot of REALTORS® to choose from. But how do you know which ones are the great ones? Here are 10 qualities of a great real estate agent when looking to buy or sell real estate in Nanaimo.

Qualities of a great real estate agent

  1. They are excellent communicators. They let you know what’s happening throughout the process, and give you feedback on showings and open houses, subject removals, the market and much more. They fully explain their marketing plans and walk you through the listing agreement, negotiations and offers, and all the documentation and information you are exposed to.
  2. They listen. They ask questions about the home you are selling, and they listen to your answers carefully.
  3. They understand the seller’s motivation for selling and adapt to it. For buyers, they understand your needs, your budget and your concerns and will keep them front of mind when searching for the perfect home. They want to act in your best interest.
  4. They adapt to the clients needs. How much communication does the client want? What method of communication works best for them – email, text, phone calls? The qualities of a great real estate means your REALTOR® understands this and tailors it to suit each individual client.
  5. They keep the client motivated. A client needs to feel supported and happy with their REALTOR® in order to continue the business relationship, so it’s important they maintain a positive attitude even during difficult periods.
  6. They know the clients timeframe. If a buyer needs a home by a certain date or a seller needs to be gone by a certain date, the qualities of a great real estate will ensue they make every effort to meet this. Time is of the essence at all times.
  7. They aren’t afraid to try new things – learn a new skill, try a new social media platform or device. To keep up with current trends and technology, education is key and they are constantly learning.
  8. They are experienced and can provide you with references for all the professional you may need, without a second thought.
  9. They are up to date on current real estate matters and receive continued education and training in that regard.
  10. They have no complaints, violations or disciplinary actions with the licensing board. You can check on the Real Estate Council of BC website at recbc.ca to find out about any actions against specific individuals.

Bonus quality: they are a RE/MAX real estate agent!

At RE/MAX of Nanaimo, agents are continually undergoing training and education through our RE/MAX University, ensuring they stay on top of current topics, issues and technology and are constantly leading the Nanaimo market share meaning they sell more homes than any other real estate group in Nanaimo!


If we can help you find your next home, or sell your current one, call RE/MAX of Nanaimo at (250) 751-1223 and speak with one of our well qualified agents today.

Read more in the February 2017 Market Update, Nanaimo Real Estate

February 2017 Market Update and Infographic

Get informed with February 2017 market update. In February 2017:

  • 347 single-family homes sold on the MLS® System compared to 406 last February, a decrease of 15 per cent.
  • Sales rose by 42 per cent from January 2017, which saw 245 sales.
  • Inventory of single-family homes declined by 38 per cent from February 2016, with 949 active listings compared to 1,529 one year ago.
    • However, the 949 available properties reflect a six per cent increase over January, an encouraging development since the lack of inventory continues to challenge consumers and REALTORS® in the VIREB area.

Last month, the benchmark price of a single-family home in the VIREB area was $403,100, up 18 per cent from one year ago. Prices increased in every zone, ranging from 14 per cent in Duncan and Port Alberni to 25 per cent in Nanaimo.

February 2017 Market Update, Nanaimo Real Estate

The benchmark price of an apartment in February rose 22 per cent board-wide from the previous year, but we saw the highest increases in Parksville-Qualicum (24 per cent), the Comox Valley (26 per cent), and Campbell River (26 per cent). The townhouse market also strengthened in January, posting a 20 per cent increase board-wide.

MORE NANAIMO REAL ESTATE MARKET UPDATES

For a look at our comprehensive stats package, click here. Prefer a visual snapshot? Then check out our February 2017 infographic.

Source: VIREB

Ever ask yourself why your house might not be selling? In today’s market it’s not much of an issue, since most properties are selling fairly fast. But in days gone by, and no doubt, at some point in the future, the market will turn and some homes will take longer to sell. We’ve put together 7 reasons to answer the question, “what are the reasons why my house may not be selling?” What are some of the most common reasons why a house sits on the market?

Why my house may not be selling

  1. Rooms are full of junk. De-cluttering is one of the most important things you can do. Since you’re moving anyway, pack up the stuff you don’t use, don’t need, or that’s just sitting around waiting for someone to deal with and store the boxes in the basement or garage where they’re out of the way.
  2. The yard is overgrown. Prune the trees, trim the shrubs, clean up the flower beds, and cut the grass. It won’t take long, and it will greatly improve the curb appeal of the home. First impressions DO make a difference so you want the first thing people see to be your well-kept yard.
  3. It has an old kitchen or bathrooms. We’ve all heard countless times that bathrooms and kitchens sell homes. Even if you don’t have money to completely renovate, there are things you can do to improve these rooms. Paint them with a fresh new, neutral color or remove that old wallpaper. Depending on the age of the home, maybe install a new toilet, or add new fixtures like towel bars, toilet paper holder, lighting or faucets.
  4. Bad or unfinished DIY projects. Chipped paint, exposed wires and holes in walls can all deter people from buying your home. Unfinished jobs make the home appear beat up or not well maintained and no one really wants to come in behind you to clean up your mess.
  5. Bad smells from things like pets, dampness, cigarettes or even cooking. Air the place out and make sure you try to minimize bad odors as much as possible.
  6. Wet patches or stains on ceilings or walls. This implies leak issues (fixed or not), and people don’t want to have to deal with finding and fixing leaks when they purchase a home. If you have stains from old leaks that have been repaired, then paint the area so it’s clean and fresh.
  7. The home is untidy or dirty. Once your house is on the market, think of it as the neighborhood “show home”. Keep it clean, keep it tidy and people will know you’re an owner who cares about the home and has looked after it well.

There are seven great ways to answer, “What are the reasons why my house may not be selling?”

If you’re not sure where to start, ask your real estate agent. At RE/MAX of Nanaimo, our agents are experienced in helping people display their homes in the best possible light. Call us today at (250) 751-1223 and we’ll get started!

Read more in the February 2017 Market Update, Nanaimo Real Estate

January 2017 Real Estate Market Update

Contact Us   Search Properties For Sale   Find a REALTOR®

January is typically a quiet month in the local real estate industry. This January seemed to be fairly sedate, however the stats from the Vancouver Island Real Estate Board are telling us it was another good month (if you’re a home seller) for sales, volume, and days to sell. Our January 2017 Real Estate Market Update stats also tell us that it was another tough month for active single family home listings in Nanaimo.

January 2017 Real Estate Market Update

There were 100 single family homes (SFH) newly listed in Nanaimo in January 2017 vs. 125 last January.

  • 56 Single Family Homes

were reported sold, vs. 63 last January which is an 11% reduction, but really only a difference of 7 units. A major difference falls in the number of days to sell for SFH’s.

  • 49 DAYS

… the average in January 2016, and that dropped to 40 in January 2017. Our Active SFH listing inventory in Nanaimo also stayed fairly consistent at 196.

The number of homes from which a buyer has to choose compared to the number of buyers in the market represents the demand.

Take a look at the numbers for the last 10 yrs.

January 2017 Real Estate Market Update

*Immediately following the beginning of the recession

Comparing the best year in 2017 verses the worst year in 2009 of the inventory and days to sell markets; 2017 there are only 38% of the listings available, and those listings are selling more than twice as fast! Demand is very high, and it continues to cause prices to trend slightly higher again this month.

Nanaimo Buyers

Buyers need to be prepared. That’s a great reason to consult one of our excellent REALTORS® who will help you to be ready with; referrals to a variety of lenders for a pre-approval of financing, current market information to help you determine value, a solid working knowledge of the local real estate community, access to great professionals to assist in the process, and a plan for success.

We hope you took away something of value from our January 2017 Real Estate Market Update. Check back next month for the February report.

Making the right choice when to list or buy real estate can be an frustrating process. Stay up to date on what’s happening to make easier choice for your family. 

BC Home Partnership

2017 Housing Action: BC Home Partnership

The BC Government believes that every British Columbian deserves a place to call home. That is why they are taking action to control:

  • the cost of housing
  • increase access to affordable rental units
  • help families make their dream of homeownership come true

Taking bold action on housing

Achieving that dream can be challenging for first-time homebuyers. With the launch of the B.C. HOME Partnership program, first-time homebuyers have more options than ever to help them get their foot in the door.

Learn about the Housing Action programs you may qualify for today. Whether you are renting, buying or renovating, B.C. is working to keep housing affordable for you.

Houses for Rental     Houses for Sale

Source: http://housingaction.gov.bc.ca 

2016 Nanaimo Real Estate Market Review

2016 Nanaimo Real Estate Market Review

That’s a wrap! Let’s review what went on in the 2016 Nanaimo Real Estate Market Review. Depending on the statistics you follow, our 2016 market saw price increases of 13% (average price per unit) to 17% (Home Price Index).  This is exciting news for homeowners, particularly home SELLERS, as until the BC Assessment Authority releases their updated assessments, changes in market prices can be a worry.  This is the time of year when friends, family and clients of REALTORS® call to confirm, not always believing the good news. The BC Assessment Authority has valued homes very close to market values, with the usual exceptions. This also accounts for huge spikes in the assessed value of a home.

Selling?

As a home seller you may ask: “How much will this cost me in property taxes?”

To find a proper answer, take the time to visit the Assessment Authority website and find out how their process works.  They aren’t perfect, and by the mere fact that they offer the public an appeal process, they acknowledge their own limitations.  However, the many hardworking individuals at BC Assessment do try their best to convey true and accurate information. As a home seller, you should also consider that the City of Nanaimo determines taxes based on a formula called the ‘Mill Rate’.  This formula is adjusted up and down to make sure the City receives the tax base it needs to continue all the services it provides, and to show it is not in place to extort the Tax Payer.  There is a breakdown of this process on the City of Nanaimo website that can be found here:

How Are My Taxes Calculated?

As another consideration, if your assessment has increased significantly, it may be time to contact a RE/MAX of Nanaimo REALTOR® to get a good market value for your home.

Contact a REALTOR®

2016 Nanaimo Real Estate Market Review

2016 has been a great year for home sellers in Nanaimo and the surrounding area.  Home prices have gone up and volume has been strong, especially when you consider the lack of inventory.  If you’re downsizing or even hoping to leverage the equity in your home to downsize, a RE/MAX of Nanaimo REALTOR® can give you a great foundation for your decision.

As a home buyer, prices have also gone up, but rates remain VERY appealing. The Canadian Government does offer several new programs to help first-time buyers into the market, and if you’re buying in Nanaimo, you are in a market that offers great value, a spectacular place to live, and plentiful amenities for you and your family.

View Current Listings

That’s a wrap for our 2016 Nanaimo Real Estate Market Review. Come back monthly to stay current with the monthly Market Updates for 2017 and to find quick tips for buying, selling, renovating and so much more.

The REALTORS®, staff, management and owners at RE/MAX of Nanaimo want to thank all our clients for their business in 2016 and every continuing year. We wish you and your family the very best in your 2017 home search!

Government, First-time home Buyer

BC Government Unveils Plan To Help First-Time Home Buyers

As the cost of home owernship in BC continues to go up, the Provincial Government has offered downpayment assistance to those who struggle the hardest with prices on the rise, First-time buyers. The essence of the plan is to assist first-time home buyers with the downpayment requirements that are set in place. Read more to find out the plans in a nutshell.

First-Time Home Buyers

  • Begins January 16, 2017 for purchases that close on or after February 15, 2017
  • Is set to run for 3 years, ending March 31, 2020
  • Is available Province-wide
  • Is for a legal, self-contained mortgageable residence in BC
  • Provides eligible first-time buyers with loans which are*;
    • Interest and payment free for up to 5 years
    • Are for a maximum of 5% of the purchase price to a maximum of $37,500
    • On a 25 year term and registered as a second mortgage on title
    • For a principal residence ONLY
As with any new plan, there are many questions and terms which need to be clarified
  • Will mortgage lenders accept down payments which are loans?
  • Will the lending institutions accept these 2nd mortgages being on title?
  • How will changes in market affect the affordability of payments after 5 years?

Mortgage lenders

Mortgage lenders seem to be trending towards rate increases in recent weeks, so affordability remains a big concern.

Interested in finding out if this program is a fit for you? Call your RE/MAX REALTOR®, and ask them to give you names of some good Mortgage Professionals who can answer your questions.

*this list of qualifications in not exhaustive, for all the eligibility requirements, contact a Mortgage Professional or the Province of BC Website.
Curb appeal, Nanaimo Real Estate

How To Improve Your Curb Appeal In The Winter

While it’s easy to give your home a great look during the summer months when the flowers are in bloom, it’s more difficult to make a home look great during the cold, darker winter months. Here, we’ll take a look at a few things you can do to improve your curb appeal for your home during winter.

Improve your curb appeal

Clean up the landscaping

Prune the bushes and shrubs so that windows are visible. This lets as much daylight as possible into the home and the shrubs appear neat and well kept. Remove old flowers and weeds from the flower beds. This not only looks neater, but you won’t be faced with this task in the spring when it’s time to plant new flowers.

Sweep up leaves and shovel snow

Not only does this make the home look better, it’s also a safety issue. Guests don’t want to slip and slide their way to your front door, and in most municipalities, you’re required by law to clear the sidewalks of snow and ice. Make sure you do the driveway as well and then throw down some sand, salt or ice melt for good measure. Lastly, while you’re shoveling the snow, take a look at the eaves and gutters and knock off any icicles that may have formed.

Turn on this outside lights

Bright lighting is important in winter not just for visibility, but because it makes the home appear warm and welcoming. It is especially important to make sure the garage and porch lights are on if potential buyers are coming to view the property. During the Christmas season, have a few festive lights on the house, trees or shrubs to add even more warmth but be careful you don’t go overboard.

Put away the non-essentials

If you have kids toys, empty plant pots or lawn furniture in the yard, put them away for the winter. If you’re not using them during the winter months, it’s easy to store them away in the shed, garage or basement until spring arrives. It cleans up the appearance and if your yard is not large, it can give the appearance of more space.

Winter isn’t a bad time to sell your home and with these few simple tips, you can improve the appearance of your curb appeal in the winter, with very little cost and effort.

Planning a winter move? You wouldn’t be the first one. One of our agents will be happy to assist you in finding the right home!