Karen Hayes: (250) 927-9798 | Susie Mattner: (250) 228-1960 | sold@teamw.ca

Parksville/Qualicum Beach Real Estate News from Rudi & Trish Widdershoven Dec 2017

Vancouver Island Real Estate News from TeamW - Rudi & Trish Widdershoven
December 2017   


Merry Christmas and Happy New Year!

Its hard to believe the Holiday Season is here and the year is almost over!  We thank you all for being part of our "real estate family" &  a special thank you to everyone who reached out after Rudi's fall in October, the expressions of concern & support were truly wonderful!.  2017 has been quite a year with fun family times, lots of business, Rudi's mishap, family & friend health issues and losing some very special people.  We are very grateful for where & how we get to live our lives & the amazing friends & family that we have.
We hope that you will spend some special time with family & friends during the Christmas & Holiday season.  We are on another family adventure, going east to visit family in Toronto & New Brunswick. This time the kids & all the grandkids are coming with us to Toronto for 4 nights of exploration & celebrating with family.  It will be busy with 25 for family dinner Saturday! We are excited!.

Thanks so much for being part of our 'real estate family", we appreciate your faith & confidence in us. 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...
Mortgage Changes - Act Now!
Setting the Stage for a Perfect Sale- First Impressions matter!
Vancouver Island Real Estate Market Update
Tired of Tossing and Turning?


Mortgage changes come into effectJanuary 1st.  Its important to give some thought to your long term plans!
Last month the Federal Governments Office of the Superintendent of Financial Institutions (OSFI) confirmed the implementation of a new minimum qualifying "stress test" for uninsured mortgagesGuideline B-20 now requires borrowers who have a down payment of 20% or more to qualify for mortgages at higher rates. Borrowers will have to be approved at either the five-year mortgage rate "published by the Bank of Canada", (currently 4.99%), OR the mortgage rate the federally-regulated financial institution offers + 2%, whichever is higher.

No matter how much money you put as a down payment, you will have to pass the "stress test".  The effect of the changes is signifigant, resulting in approximately a 20% decrease in affordability, or borrowing power.

This change is important to note;  If you are planning on purchasing real estate in 2018 & beyond; or If you are planning on placing financing on your current home as part of your future retirement planning process.

We believe everyone should consider having financing on their homes, even if you do not "forecast the need". Having the option in place is usually easier to do now than in the future, plus it impedes any future risk of fraud. Maybe you will use or need it for that "special holiday", a new vehicle, an unforeseen medical situation, or for extended life supplementing retirement plans. We know at least one financial institution, RBC, will give you pre-approval this month under current regulations & rates. You can qualify for 120 days to either "purchase & close" on a new property, or to place financing on your current home.

If you would like to explore this option speak to your financial advisor, or ask us team@teamw.ca as we would be pleased to explain it to you further. We can  put you in contact with a mortgage specialist. But don't delay as Dec 31is the deadline for application under the current rules!


When you put your home on the market, our goal is the same! Sell it quickly & for top dollar. Proper staging of your home from day one will create an wonderful impression that should generate a huge buzz & quick sale!

Staging isn't as much an expense as it is an investment. Not only is your home likely to sell for a higher price but it will probably sell faster. This is important because homes that sit on the market longer tend to lose value, especially in this current market enviroment. Don"t forget Trish is an "accredited stager" & can help you with it! The process begins with cleanliness, de-cluttering, some de-personalizing & a neutral pallette. Buying a home is an emotional decision, buyers need be able to envision themselves living there. Thats why most photographs, trophies `& kids artwork need to go. Your are moviing anyway so pack it now!

Staging ensures your home is inviting to buyers by increasing functionality and the flow of rooms. Sometimes that includes removing & storing furniture so the house looks spacious. The use of lighting and other features can create a warm & cosy effect. A properly staged home usually generate more showings.

Start by cleaning up the front of the house & yard, & don’t forget the back too. Buyers can have a tough time ``visioning``. So turn your craft room back into a bedroom or transform a nook into a comfy reading spot. Great lighting creates a warm and welcoming ambience so make sure you update light fixtures, lamps & that light bulbs are working. Buyers will also look through cupboards & closets (storage space can be a factor in "downsizing") so don’t forget those areas as well. The garage matters too, but it can have some boxes etc.

A well staged home will make a great first impression and capture the hearts of homebuyers. Whether you pay a professional to stage your home or do the work yourself, staging is a worthwhile investment that will massively increase the odds of your home selling quickly and for top dollar.


Lack of inventory continues to drive our market.

The year is almost over, which seems hard to believe! Looking at the latest statistics for the greater Parksville Qualicum Beach area released by VIREB it has been an active year (though sales volumes were down from 2016 as predicted).  We did did see an increase in values as we predicted, due to lack of supply & continued strong demand.

Overall Single Family homes here has seen 8% fewer homes listed and 16% fewer sales.  However the average sale price increased by 14%.  The average "days on the market" is down by 23% to 26 days.  The overall current "active listings" November 2017 is down by 6% in comparison to November 2016.  Check out the summary report by clicking here.

Keep in mind the above numbers vary for different geographic areas. For example Parksville has seen a drop in the number of new listings by 9% and average sale price up by 10% while Fairwinds has seen an decrease of 23% in listings and a 18% increase in average sale price. If you would like more detailed information on particular geographic regions or different styles of properties contact us at team@teamw.ca .  Also none of these stats include waterfront homes as they skew the averages.

Also BCREA (British Columbia Real Estate Association) has released their Fourth Quarter Housing Forecast for the Vancouver Island Real Estate Board area (Malahat north). The forecast is a contined drop in the number of single family home sales at  -7.9%, and a continuing increase in average sale prices by 2.4%.  Keep in mind January 2017 they forecast a 2% increase in average sale price and we ended with  an approximate 14.5% increase.  For the full details of the Forecast please drop us a note at team@teamw.ca and we would be pleased to supply it to you.


Healthy sleep habits can greatly improve your quality of life.

If all you’re dreaming of is a good night’s sleep, you’re not alone. Lack of sleep can take a massive toll on our mental & physical health. The following tips may help you get your much needed sleep!

  1. It's a No-Glo - Hide all light no matter how faint and turn off your smartphone & computer screens at least 30 minutes before bed.

  2. Chill Out & Warm Up - Keep your bedroom temperature cool. You can wear socks to bed to help your body transfer heat even.

  3. Light Bright - Take in all the daylight you can as it changes the melatonin levels in your body which causes you to sleep better when darkness falls. Melatonin in pill form at bedtime helps some people.

  4. Keep Regular sleep Patterns - Try to go to bed & wake up about the same time daily. If you get poor sleep one night, don’t nap the next day, it will affect your internal clock. But naps as a regular thing are good for you (as long as they do`t affect your regular sleep pattern.

  5. Stay Fit - Exercising early & daily can help you sleep better. but avoid it later in the day. Instead, ease muscle tension with some light, relaxing stretches before hitting the sack.

  6. No Worries - Write a to-do list before going to bed in order stop your mind from turning. Keep a journal beside your bed just in case something pops in your head or to jot down concerns or things to remember. Then go back to sleep.

Lack of sleep can contribute to physical and emotional health problems so it's important to consistently practice positive sleep habits. The above suggestions can help you peacefully drift off to sleep each night so you'll be much more energetic and productive throughout the day. Sweet dreams!

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 
 For the latest real estate updates, including new listings, price changes and upcoming open houses follow us on  Twitter  and "LIKE" us on Facebook! 



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TeamW - Susie Mattner & Karen Hayes
TeamW at Royal LePage Parksville - Qualicum Beach Realty
679 Memorial Avenue
Qualicum Beach, BC
V9K 1T4 CA

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.