ADDITIONAL INVENTORY OFFERS LITTLE RELIEF FOR BUYERS February brought additional inventory to the table in the Vancouver Island Real Estate Board (VIREB) area. However, listings are still far below where they need to be to satisfy buyer demand. Active listings of single-family homes were 12 per cent lower last month than the previous February but rose by 34 per cent from January 2022. Read more →
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2021 ENDS WITH NEAR-RECORD SALES AND RECORD-LOW INVENTORY The Vancouver Island Real Estate Board (VIREB) recorded 11,045 unit sales (all property types) in 2021, close to the 12,014 and 11,341 unit sales seen in 2016 and 2017. It is a remarkable outcome notwithstanding since it occurred amidst an environment of historically low inventory. Based on buyer demand, 2021 would have l Read more →
How Low Can Housing Inventory Go? Active listings in the Vancouver Island Real Estate Board (VIREB) area continue to drop, with demand far outpacing supply. Inventory has hit consecutive historical lows for several months running. Active listings of single-family homes were 44 per cent lower last month than in November 2020 and dropped by 24 per cent from the previous month. VIREB&rsq Read more →
November Market Update for the Vancouver Island Real Estate Board (excluding Victoria) The predominant theme running through the housing market in the Vancouver Island Real Estate Board (VIREB) area is one of “different month, same issues.” By category, 398 single-family homes sold in October, a 23 three per cent decrease from one year ago. There were 122 condo apartment Read more →
View this email in your browser Vancouver Island Real Estate 2021 MARKET UPDATE, LOCAL NEWS & EVENTS Read more →
I have decided to start a list of words and their definitions often used in real estate to educate sellers and buyers, I am hoping to help everyone when it comes down to understanding what we agents are talking about when reviewing contracts with our clients. Please reach out and let me know if there are any terms you would like me to add to my list. Agency: a ty Read more →
We are in a very tight market there are some listings coming to the market daily but not nearly enough. This is causing a great opportunity for sellers but makes it tough for buyers. Here are some tips for buyers: 1. Understand the risks of a subject-free offer and learn what you can do to make it a little less risky. It is important to understand what the conditions are and h Read more →
December 2020 Market Update Stats (Vancouver Island Real Estate Board) Last month, 302 single-family detached properties (excluding acreage and waterfront) sold on the MLS® System compared to 226 in December 2019 and 421 in November 2020. In the condo apartment category, sales rose by 94 per cent year over year and 16 per cent from November. Row/townhouse sales increased by 61 per Read more →
I read this article written by one of the contributing authors of our Real Estate magazine news and I could not write a better article so I would like to share this with my followers. We have been lucky here on Vancouver Island our residents stayed home when ordered and our COVID-19 cases have been kept under a very managable control for our health care system. Our leading doctor in BC D Read more →
Well I don't know about you but it sure feels like spring when the sun comes out more often and there are fewer and fewer rainy days! There are sightings of cherry blossoms, spring flowers and of course time to cut the grass. Hudson and Holly are enjoying the spring weather too! For the full details on the Cowichan Valley real estate market on Southern Vancouver Island pluse read my late Read more →
Happy New Year! We finished the year off on good note overall province wide with strong gains over the last couple months of the year. In the Cowichan Valley the market was not so good in November but bounced back in December.Our market is starting to pick up again after the short blip of snow (hopefully that's all we get) and the holiday season is over.If you, or anyone Read more →
The renovation business is booming. Everyone is renovating, which is one of the reasons it’s so tough to find a good contractor. Magazines and television shows inspire people to renovate. Home-improvement stores are full of great products and offer easy financing and seminars for homeowners. No wonder everyone wants to improve their home—I heard recently that about 10% of Read more →
Here is the information for Canada's National Housing Strategy. Have a read through and see if you can take advantage of the program. The First-time home buyer ioncentive helps qualified first-time homebuyers reduce their monthly mortgage carrying costs without adding to their financial burdens. The First-Time Home Buyer Incentive helps people across Canada purchase their first home Read more →
Credit: Courtesy of Zolo Realty Look familiar? The priciest property sold last week was previously a BCBusiness Big Fat Deal In Metro Vancouver, there are a handful of neighbourhoods that command ultra-high prices of $10 million and up. Kitsilano is one of them—last week, a single-family home sold for $15.5 million, according to data analyzed b Read more →
Here is an interesting bit of information if you are thinking about growing cannabis in your home and how your financing for mortgages can be effected. Maybe think twice before growing in your home. Read more →
It's been a strong year in real estate here in the Cowichan Valley in 2017 however while the provincial economic conditions appear to be on a sound footing the BC Real Estate association expects economic growth to slow in 2018, expanding at a respectable 2.8 percent but lower than we have seen in some time. The province's housing market will face additional economic pressure in 2018, wit Read more →
I know when listing a home that contains dogs can make home selling more challenging as I too have a dog and if I were to sell my home I would be dealing with the same situation, I hope this article will help the dog owners when going to place their home on the market. If you would like some help in listing your home and you live in the Cowichan Valley - Duncan BC area and have a dog ple Read more →
Home buyers often start their search with a long list of must-haves ... only to find they need to whittle it way down once they see what's within reach. Unless you're a bazillionaire, it's impossible to check all those boxes on the wish list. So, how do buyers decide what pieces of their dream (home) they're willing to hack off? Imagine a triangle with price, lo Read more →
No matter how gorgeous your home is, it could contain an item or two that happens to scare the pants off anyone who walks through your door. That might not be a problem if you don't like guests, but it could very well be a big problem if you're trying to sell your place! https://www.realtor.com/advice/sell/frightening-things-in-homes-for-sale-that-scare-b Read more →
