Tag Archives: REALTORS®

Your House Is Dated

6 Features That May Say Your House Is Dated!

Are you considering selling your home and are worried your house is dated? Below are some of the features that date your home, along with some tips for how to improve them.

Your house is dated if …

  1. You have popcorn or textured ceilings.

Not many things age a house more than popcorn ceilings. It’s a huge job to remove them on your own so talk to a painting contractor to see how they can help you. If you can’t afford to have them removed by a professional, a fresh coat of white paint will remove the yellowish look they often get with age.

  1. Your countertops are tiled.

If your counter tops are made up of tiles with a lot of grout lines, you know how hard it is to keep them clean. This can turn off a buyer very quickly. Installing new countertops doesn’t have to break the bank and gives the room a sleek new look. Places like Home Depot or Lowe’s sell pre-made countertops for bathrooms relatively inexpensively and they also have a great selection of kitchen counters which can often be professionally installed by them.

     TIP: To take it to the next level consider a solid surface stone countertop. 

  1. Any of you rooms have wallpaper borders.

Get rid of wallpapered boarders if you want to take 20 years off the appearance of your home and modernize the look.

     TIP: Wallpaper can add texture and a modern element to a room or feature wall. 

  1. You have brass fixtures.

While these may have been popular in the 1980’s or 90’s, todays buyers want a more neutral appearance. Brushed nickel, stainless or even black fixtures can be installed to give the area a fresh look and it doesn’t have to be expensive. Brass is making a come back though! Take a look at some of the modern brass finishes. Not quite those brass faucets we’ve seen in the past.

     TIP: Incorporate a eclectic vintage chair or brass accent into your modern decor. 

  1. Your home has wall to wall carpets.

A lot of buyers today tend to want hardwood floors. If you’re carpets are not in great shape, are badly stained or have an awful pattern on them you might want to think about getting new flooring installed. At the very least, remove any carpets in the bathrooms because that’s a sure-fire turn off for any potential buyer.

  1. Your appliances are old, worn out or strange colours.

A lot of us probably remember the old “harvest gold” or “avocado green” appliances. These age your home quickly so if you can afford to upgrade to new appliances, do it before you list the home.


This is not a complete list of things dating your home, but it’s a great starting point. Call RE/MAX of Nanaimo if you’re thinking about selling your home (even if you thing your house is dated) and one of our well qualified agents will be happy to do a home evaluation to see what your home is worth. Call (250) 751-1223 today.

What Happens Next to Home Prices?

Since 1981, prices have posted monthly year-over-year increases of 20% or more 46 times! An acceleration in prices is generally followed by a reversion of growth back to its long-run average within 12 months.  In a number of periods, price growth has turned negative within 24 months, though generally following a significant external shock. So what does this mean and what happens next to home prices?

Home prices

In BCREA’s issue of Market Intelligence, they look to past periods of accelerating prices for answers. This report is an analysis and not a forecast. Read further for the examination of what trajectory home prices have typically followed after previous periods of rapid acceleration.

2016

The year started with home prices posting 30 per cent year-over-year increases, which moderated to 16.5 per cent by May.

Most periods of price acceleration were followed by a gradual moderation of price growth within 12 months. In two of the historical periods, price growth turned negative in the 12 months following a rapid acceleration. However, these periods coincided with an idiosyncratic or external shock, such as the leaky condo crisis of the mid to late 1990s, recessions or a tightening of monetary or macroprudential policy.

Using history as a guide to what comes next for the Vancouver housing market, one would expect that without a major economic shock or significant change in housing policy, that conventional market dynamics of supply and demand will take hold and growth in home prices will likely trend lower over the next 12 months.

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Market Update: Very Busy Real Estate Market in Nanaimo

We are in a very robust Real Estate Market, with high market activity that hasn’t been seen in over a decade. Our local market is different than what you see on the news in Vancouver or Toronto, but nonetheless, it is a VERY busy real estate market in Nanaimo for those buying and selling homes.

Buying demand

We can never be totally certain of what is driving demand among buyers. The number of homes listed in April is up 6% over the same month last year, but with the number of units reported sold up 27%, buyers are feeling frantic. The average sell price per unit last month was also up 13% over April of 2015.

A busy real estate market in Nanaimo

The real estate market comes down to supply and demand. There is a limited supply of new and existing homes for sale in the Nanaimo market, and there are more Buyers than there are homes available. Because of this, prices and sales go up. As a Buyer right now, you need to be on top of your market segment, watching the new listings and communicating with your REALTOR®. Your REALTOR® is going to give you the knowledge needed to be involved in “Multiple Offer” scenarios, so do your research and follow their advice. With the help of your REALTOR®, you could come out on top. Stay focused and know what you want.

Tips for sellers

As a Seller, you should be strategizing the best position for you in this busy market. It’s great to sell, and possibly for even more money than you originally thought, but there are still some challenges.  Do you have a new home to go to?  You are stuck with the same challenge as any buyer, competing for the home you want.  Have you taken your REALTORS® advice and priced your home well?  Houses that are overpriced will continue to sit on the market even in the best markets.  You have to be priced well to succeed. 

Thinking about buying an investment property?

RE/MAX of Nanaimo Property Management department has rented all of our inventory! Do you have a suite, condo or home that you would like to be rented?

We’ve rented every one of our rental properties and we need more! We have tenants looking for the right home to rent and we have nothing for them to rent. Put us to work for you and get your rental investment rented! Call us today at (250) 751-1223.

Have a chat with one of the market’s best REALTORS® at Nanaimo’s Best Real Estate Office, RE/MAX of Nanaimo at (250) 751-1223 or find more stats on VIREB.

How to Move to Canada

Canada has always been a fantastic place to live. The economy is steady, the people are friendly, the environment supports a healthy lifestyle, and the affordability in most of Canada is unparalleled to many other places in the world. Recently the interest to move to Canada has spiked. Is it the Canadian dollar, the media attention at the World Economic Forum, Canada’s new leadership, or are people looking to escape the upcoming presidential election in the United States?

Move to Canada Searches

Just this week inquires and searches on how to move to Canada spiked 1500 per cent. A combination of the low Canadian dollar and the drama of the U.S. presidential election campaign may have some of our southern neighbours wishing they could escape. – Source

Emotionally charged events are felt globally – in real time like never before, with technology and social media being at the helm of news distribution. It’s also enabling us to act quicker than ever before to events that are happening and being felt around the world, as well as events close to home. Individuals are responding quicker then they once did and taking advantage of this information. Globalization is opening up many more opportunities. Would you consider moving to Canada? Do you know how to move to Canada?

At the World Economic Forum in Davos, Switzerland, Prime Minister Justin Trudeau pitched why Canada is a great place to invest and emphasizing the need to diversify the economy. – Source

Why Move to Canada

Some of the most important aspects to consider when looking to move to Canada are: financial stability, unparalleled market access, a welcoming business environment, a strong growth record, a highly educated workforce, low business tax costs, and a competitive R&D environment. All great reasons to move to Canada. Innovation + Stability = Profitability- More information and sources can be found here.

Where to Move to in Canada

The Real Estate market is a strong indicator of Canada’s economic stability. Individuals and businesses are flocking to British Columbia, Canada because of the affordable homes and dynamic lifestyles. December 2015 home sales in British Columbia have been entered into the record book with a record-breaking number of home sales for the month. It’s only the third time on record the market has hit these high numbers.

Diversity is the engine of invention. It generates creativity that helps change the world. We know this in Canada.

  • 6,590 residential unit sales recorded on the Multiple Listing Service® (MLS®) – up 29.8 per cent from the same month the previous year.
  • Sales dollar volume hit a record high of $4.62 billion for the month of December – up 55.4 per cent compared to the previous year.
  • BC home sales breeched the 100,000 unit threshold in 2015.

Source: BCREA

The Best Place to Move to in Canada

Nanaimo, on Vancouver Island, British Columbia is a great place to move to or to invest in now. It provides the ideal lifestyle to work and live. One of the most multicultural cities, Nanaimo, Canada offers a clean, friendly environment, world-class education, a universal health care system, and an overall incredible quality of life. With the average price of a single family home being $497,174, you can’t afford not to move to Canada! 

Looking to move to Nanaimo? RE/MAX of Nanaimo has 52 per cent of the market share and will likely have the home you’re looking for. If you’re not ready to buy, check out the Nanaimo homes for rent in our in-house Property Management department.

Interested in moving somewhere else in Canada? RE/MAX of Nanaimo has over 100 REALTORS® that are networked across Canada (and beyond) who can assist you in your move to anywhere in Canada. Call us to find the person who will help you move to Canada (250) 751-1223.

5 Spring Market Stats for Nanaimo

A spectacular spring market is the only way to describe Real Estate Sales in the Nanaimo area for May 2015. We’ve had month over month increases in sales volume and the number of homes sold, and the trend is continuing in the spring market stats for Nanaimo.

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