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Parksville -Qualicum Real Estate News from Rudi & Trish Widdershoven November 2017

  Vancouver Island Real Estate News from Rudi & Trish Widdershoven November 2017   

Hi Paul,


Hope everyone is doing well & we truly appreciate how many responses we got regarding Rud's crash & burn fall!  We are pleased to report the cast was removed yesterday & he is on his way to full use of his arm again!  I am extremely happy to not be full time driver anymore!  We have had some wonderful experiences through this process with people going out of their way to come to us or even offering to drive Rudi instead of him driving them to view homes!  A special thank you goes to Susie Mattner in our office who was particularly helpful, we are mentoring her & she's becoming a GREAT Realtor* and we feel will be part of our greater circle of support on a contining basis.  Susie will look after business when we are away in the future.
 
Its hard to believe the holdiay season is already upon us! 1 month tomrrow is Christmas Eve!
 
Please try not to let the stress of the coming season be your focus this month...remember Christmas & the Holiday Season is about sharing time & creating special memories!  Be kind to one another and donate to those less fortunate...the magis of the season is not about the biggest or best gift...its about sharing & caring for each other. 
 
Thanks so much for checking out this month's newsletter.  Please get in touch if you have any questions or comments regarding the articles, or real estate in general -- it'd be great to hear from you!

Your friends in Real Estate
Rudi & Trish W.
In this issue...
Vancouver Island Real Estate Market Update
Smart Home Security Made Simple
The Feng Shui Way
Building a Better Community

Vancouver Island Real Estate Market Update 

High demand and low inventory driving brisk market.

The Vancouver Island Real Estate Board (VIREB) reports that single-family home sales in October 2017 rose by 16 per cent from one year ago but dipped 10 per cent from September.

Last month, 460 properties sold on the Multiple Listing Service® (MLS®) System compared to 398 one year ago and 511 in September.

When looking at these sales figures, however, it is important to note that 2016 was a banner year for real estate.  We are not expecting a significant market change in direction in 2018, as sales activity in the VIREB area is still robust.

VIREB attributes most of the decline in sales numbers to ongoing lack of inventory challenges. Although the supply of single-family homes for sale has been rising each month since VIREB hit a historic low of 859 in December 2016, inventory in October was 1,138, down 2% from last year & 8% from September.

The British Columbia Real Estate Association (BCREA) reports that the housing market in B.C is strong, particularly in the southern half of the province. B.C.’s GDP is currently tracking at 4 % and is expected to average 3.7 % for 2017.

Government policy decisions, slightly higher interest rates & the new mortgage stress test, could affect the housing market in 2018, but it is too early to say how. These attempts to temper rising home prices are aimed mainly at overheated markets in Vancouver & Toronto. They will likely be countered by other factors, most baby boomers are entering their retirement years, millennials are purchasing first homes, plus interprovincial migration.

Janice Stromar, 2017 VIREB President, states that sales are still brisk throughout VIREB. “Looking purely at statistics, it appears that the market is cooling, but the opposite is true,” says Stromar.  “Lack of inventory is certainly tempering sales, but what is available sells faster & for more money.”

Stromar adds that multiple offers still occurr regularly, even on condos, townhouses, & mobile homes, which is unusual for VIREB. However, sellers still need to price their homes realistically.  “Although many properties are selling above list price, sellers must set a reasonable price because consumers are savvy & may not look at an overpriced home,” she said.

Connecting with a local REALTOR® is especially crucial in a competitive housing market, adds Stromar.  “Our current market conditions can be confusing & chaotic for buyers & sellers. REALTORS® have specialized knowledge of their communities that can help streamline the process to ensure the best possible outcome while mitigating associated risks,” says Stromar.

In October, the benchmark price of a single-family home in the VIREB area rose to $463,800, up 17 % from 2016. Benchmark pricing tracks the value of a typical home in the reported area. The benchmark price of an apartment condo rose to $272,300, up 28 % board-wide from the previous year, while the benchmark price of a townhouse hit $360,100, a 22 % increase from 2016.
 
The October 2017 benchmark price of a single-family home in Parksville Qualicum Beach was $524,900 up 17% from last year, Nanaimo's benchmark price broke the $500,000 mark up 14% to $501,400. Campbell River area was $366,800, an increase of 19 % over October 2016.  In the Comox Valley, the benchmark price hit $466,200, up 20 % from last year.  Duncan reported a benchmark price of $409,500, an increase of 14 % from October 2016.
Port Alberni's  benchmark home was $253,600, up 18 % from one year ago.

Smart Home Security Made Simple 

A fully secure home will provide you with peace of mind.

Whether you’re at home sleeping or away on vacation, it’s important to know that your home is secure.  A secure home can be more attractive to potential buyers when it comes time to sell.

Smart lighting, remote locks and wireless cameras can all make your home safer; however, the issue of cyber criminals hacking into smart home systems is a valid concern so homeowners shouldn’t forget about the basics.

Eliminate potential hiding spots by trimming down bushes that are around your windows and doors.  Most thieves are opportunists who see an open door or window and decide to take a chance and see what they can make off with.

Perhaps you want to install strike plates on your doors to help protect the deadbolt from crowbars or kick attacks. Thieves want to get into your home as quickly as possible, so if one forceful kick doesn't work, they’ll likely run.
Windows are also popular break in points so install heavy sash or keyed locks.  You can also get special window films installed so your windows are more difficult to break.

Give the impression your home is lived in while you're away on vacation by installing a dusk-to-dawn porch light.  Although technology allows you to control blinds and lights right from your smartphone, you'll still need to find someone to rake your leaves as there isn’t an app for that yet!
 Also if you are away for a period of time we have companies locally that do "home checks" and will do some clean ups to make the home appear lived in. Also make sure you check with your insurance company if you will be away for more than 2 weeks. Most now have specific requirements or you insurance can be invalidated, and they may not pay a claim.

When it comes to home security, paying attention to the little things can often make a huge difference so take time to follow up on details. Potential buyers prefer a secure home as it's one less thing for them to worry about, so you may as well do it sooner than later so that you can enjoy the benefits as well.

The Feng Shui Way 

Creating good feng shui around your home is easier than you think!

Feng shui is an ancient Chinese practice that helps achieve a harmonious living environment in order to promote happiness and prosperity.  Here are a few ideas to enhance the energy flow around your home:


  1. De clutter! Clearing your home of clutter will introduce a smoother flow and make you feel better. Clutter is a sign of trapped energy so try and be ruthless and get rid of everything you dont need. Plus its the perfect time of year to help others less fortunate with donations!

  2. The Right Path - Place a few plants and wind chimes on your porch and make sure the path to your front door is unobstructed.


  3. Fire & Ice - Essential oils, crystals, candles and water features such as fountains and fish ponds or bowls will bring calm and balance into your home.

  4. Mirror, Mirror - The strategic placement of mirrors helps improve feng shui by drawing more sunlight into otherwise murky rooms and by expanding narrow areas such as hallways.

  5. Thiink outside the nest! Birds bring great energy to add a hummingbird feeder or a bird bath to your yard

Feng shui emphasizes that our physical surroundings have an impact on our emotional well-being so it’s important to be aware of how we arrange our space.  Buyers often feel certain vibes when they enter a home so a "harmonious feel" could be the difference between a quick sale and one that drags on.

Building a Better Community 

Getting to know the people living around you offers plenty of benefits!

Research shows that there are many physical and mental health benefits to enjoying a sense of belonging.  Here are a few ideas to help you build community spirit:
           Rags to Riches - Organize a street or neighbourhood garage sale or                       clothing swap in your ‘area.  It’s also a great way to get rid of clutter!



           Clean Green - Coordinate a beach or park clean-up and then enjoy drinks and snacks that could be donated by a local business. Or afterward offer the bottles to a local team or school fundraising project.

           Book Smart - Build a “Little Library” at your local park or on your front lawn and enjoy watching people gather to exchange books.


           Start a Block safety program- Create a list of "who has what" be that skills and or equipment for emergency situations in the area. Who has a first aid certificate? Who has a generator, or who needs mobility help with leaving their home?

Getting to know people who live close by will really improve your quality of life and foster a sense of belonging.  Social media can also help build a safe, connected, friendly place to live by providing a platform to share events and ideas.


PS Oh by the way, we always appreciate any of your introductions.  If you know of anyone that may benefit from our individualised help please contact us with their name and number and let them know that we will be in touch.  We would be privileged to assist them!
 
If you would like to keep up on the market and would like automatic email notifications of new listings, sales, etc. Click here or drop us an email at team@teamw.ca or give us a call:  250-468-1498

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