I have sold a property at 48 855 HOWARD Ave. See details here
Come home to this charming 2 bedroom townhome in Eagle Heights. Pristine and well-maintained with over 1000 square feet of living space, this main-level entry home is nestled in a highly sought-after complex in a desirable location. Step inside and be greeted by the sun-soaked dining room, updated modern kitchen, and spacious living room with large sliding doors leading out to the patio and raised deck. Upstairs, you'll find a roomy master bedroom, stylish 4-piece bathroom, a cozy second bedroom, and a conveniently located laundry room complete with generous storage options. Situated in a quiet neighborhood close to schools, Vancouver Island University, shopping, parks, and trails, Eagle Heights is a well-managed complex without age restrictions. This affordable and inviting unit is perfect for first-time homebuyers and won't stay on the market for long. All data and measurements are approximate and should be verified.
A STRONG HOUSING MARKET
Despite the global pandemic, sales records are being broken in the detached residential property segment within many markets across the nation.
Rather than a slowdown, we are continuing to experience a surprisingly robust real estate market. Experts estimate that these conditions are likely to last into the new year.
FEWER LISTINGS EQUALS A SELLERS’ MARKET
Inventory, meaning the number of homes for sale, is at a record low across the country. In fact it is at a 17 year low. If demand remains unchanged prices will continue to climb in this sellers’ market despite COVID-19.
Currently; bidding wars of properly priced listings are common between buyers due to the lack of inventory. The average price of a detached home sold on the Canadian Real Estate Association's (CREA’s) MLS service increased 17.5% over last year and continued home-price growth is anticipated for the remainder of 2020 and into 2021. It’s tempting to believe that homes will basically sell themselves in a market like this. But we’re still seeing properties that are overpriced sit unsold.
Time is of the essence in a sellers’ market. Buyers should get their financing in order and be pre-approved for a loan before they begin their home search. I can connect you with a trusted mortgage professional to get you started.
BUYERS BENEFIT FROM LOW MORTGAGE RATES
The average five-year fixed rate is now below 2% and interest rates are not expected to significantly rise throughout 2021. The time is now to determine a comfortable mortgage and make a plan to find your new home. I am here to answer your questions and offer sound advice to guide you through all the options that are available to you.
WHAT IT MEANS FOR HOMEOWNERS
If you’re locked into a higher fixed-rate mortgage for the next several years, you’re probably wondering if it’s a good idea to refinance. With those additional funds, you could pay off debt or even choose to invest in a second home. Contact me now for a referral to a trusted mortgage professional.
Housing needs are typically resolved by late summer and early fall to coincide with the commencement of the new school year. This year is proving to be different because the lockdown and continued uncertainty at the beginning of the year did delay what would have been 2020’s typical real estate schedule.
Household savings grew to 28.2% of household income during the pandemic. Statistics Canada states the country has not seen savings like this since the 1960’s. Homebuyers are now using that cash on real estate.
All this suggests that the housing market is in a strong position heading into the new year. It’s clear that consumers still consider real estate to be a good investment. The coming months should provide more clues about the market’s direction. Will low interest rates keep demand levels high? Will a pent-up demand for new listings continue, or will this demand cool off? What will homeowners do as mortgage deferrals end? Will more Canadian businesses fail due to COVID-19? Will government financial intervention continue?
I AM HERE TO GUIDE YOU
National real estate numbers can give us a pulse on the market, but real estate happens in our own backyard. I can help you understand the finer points of the market that impact sales and home values in right here in Nanaimo and surrounding areas.
If you’re considering buying or selling a Central Vancouver Island property before the new year or in early 2021, contact me now to schedule a free consultation. Together, we’ll develop an actionable plan to meet your real estate goals.
Hello; it was the link from the newsletter that brought you to this blog post. You may be the winner of a $50 gift card. Your chances of winning are great and it’s very easy too! All newsletter draw entrants, per Canadian legislation, must be 19+ years of age and correctly answer a VERY simple question. That is correct… just indicate the correct answer r within the comments section below. It will take less than a minute and I am positive that you will answer the question correctly.
Please select which of the following statements is correct:
Furthermore, as per Canadian legislation regarding this random draw, I must also state that the winning entrant must reside within British Columbia. (A Canadian province.) Please also note that this newsletter draw is open to all persons subject to the above criteria. No property purchase or sale necessary.
WHEN WILL THE NEWSLETTER DRAW WINNER BE ANNOUNCED?
The winner of each Newsletter draw will be announced within the following newsletter. This will give everyone lots of time to enter the draw. It will be a random draw and each newsletter will be released near the middle of every month until further notice. Good luck!
Drain the Hose
Watering season is over, but you’re not done with your outdoor watering system quite yet. To avoid cracked hoses and burst faucets over the winter, turn off water valves in your home and drain all remaining water from the taps and hoses. Tip: Unrolling the hose down a gentle slope will let the water run out completely.
To prevent ice dams — ridges of roof ice that prevent melting snow from draining — ensure attic vents are free of debris. Poor soffit ventilation can increase mold inside the house and damage wood shingles during the winter months. Tip: A leaf blower or a pass with a pressure washer will clear them out and prep them for winter snow.
Clean the Chimney
Ahhh, there’s nothing quite like the warming atmosphere of a wood-burning fireplace in the dead of winter. But once you’ve cozied up to your 70th fire, get that chimney inspected and cleaned of excess creosote, because it may cause chimney fires. Tip: Run the point of a fire poker inside the chimney liner and if there’s more than three millimetres of gunk, call a certified chimney sweep.
Store Pots and Planters
If you decide to keep your collection of colourful clay pots outside for winter, make sure you empty the soil before you do. The moisture in the earth will expand when frozen, which can crack those precious ceramic containers. Tip: Removing the soil now will make it easier to reposition and replant the pots come springtime.
Mind in the Gutter
Backed up gutters can cause all sorts of wintertime hassles such as roof leaks, ice dams and wall-focused water damage. Before the snow comes, get your gutters cleared out by a professional — leave ladders to the insured experts. Tip: Make sure all downspout extensions run at least 1.5 metres away from your home’s foundations.
Caulked and Ready
A thin line of silicone caulking is one of the best ways to seal gaps in siding, windows and door frames. If you can see a gap that’s bigger than the width of a nickel, you need to get on it, to stop drafts and water damage in their tracks. Tip: Pick up some weather stripping for doors as well — you shouldn’t be able to see daylight from inside your home.
Inspect the Roof
Pull out a pair of binoculars and give your roof a careful once-over. Keep your eyes peeled for damage or missing or loose shingles. Hire a handyman for patching jobs, or a roofing company for larger sections in need of some TLC before winter comes. Tip: Take time to investigate the flashing around chimneys and vent stacks, too.
While it may be tempting to wrap your entire external air-conditioning unit in miles of plastic wrap, resist the urge. Doing this can cause corrosion and is an inviting spot for nesting rodents. Instead, place a piece of made-to-measure plywood over the unit during winter and protect it from large, falling icicles and snowdrifts.
Don’t wait until the thermometer dips below zero to think about your home’s heating system; prep now and be ready. A technician can inspect, test and clean your furnace or heat pump to ensure they’re in tip-top shape for winter. Tip: Ask for a carbon monoxide measurement at the same time as the inspection.
Flip it and Reverse it
If your home is kitted out with ceiling fans, check the settings for a reverse option. Running fans in the opposite direction creates an updraft, pushing down heated air, which can help reduce your energy bill. Tip: If you have high ceilings, consider switching out the fan units for ones that have this setting.
Before the temperature drops too much, make sure your home is ready to handle the cold, wet winter months. A little prep work and elbow grease now will go a long way to help your home weather the coming storms — literally.
Don't know who to call for help with some of these chores. Contact me here and I will set you up with the right people. No problem.
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.