October 2018 Real Estate Market Update

October 2018 Real Estate Market Update

Vancouver Island Realtor Lorne Gait provides you with his October 2018 Real Estate Market Update.   Lorne is a long term professional realtor who can help you find your place.  Helping you is what we do.  Let’s get in touch  . . . Lorne at 250-618-0680.


Here are the stats for Nanaimo – 09-Sep 18 Nanaimo Graphstats

Here are the stats for Cowichan –  09-Sep 18 Cowichan Valley Graphstats

 

 

Vancouver Island Real Estate Market Update Fall 2018
Vancouver Island Realtor Lorne Gait and Morgan Fisher.

Market Update Fall 2018

Market Update Fall 2018

Vancouver Island Realtor Lorne Gait provides you with his Market Update Fall 2018.   Lorne is a long term professional realtor who can help you find your place.  Helping you is what we do.  Let’s get in touch  . . . Lorne at 250-618-0680.

 

Here are the stats for Nanaimo — 08-Aug 18 Nanaimo Graphstats

Here are the stats for Cowichan — 08-Aug 18 Cowichan Valley Graphstats

Vancouver Island Real Estate Market Update Fall 2018
Vancouver Island Realtor Lorne Gait and Morgan Fisher.

Vancouver Island Real Estate Market Update

Vancouver Island Real Estate Market Update

Vancouver Island Realtor Lorne Gait of Royal LePage Nanaimo Realty gives his July 2018 Vancouver Island Real Estate Market Update.

Lorne has much experience with Vancouver Island properties.  He

Lorne Gait provides a Vancouver Island Real Estate Market Update for July 2018
Vancouver Island Real Estate Market Update

has assisted many folks to find their Vancouver Island Oceanfront and ocean view properties.  It could be a condo, townhome or single family home.  It could be a piece of land to build a dream home.  Let’s get in touch and get you started finding your best future on Vancouver Island.   Visit Lorne at www.lornegait.com

July 2018 Market Update

Saltair Oceanfront Home

Saltair Oceanfront Home

Check out this Saltair oceanfront home.  If you like Walk on "<yoastmarkWaterfront, you will find this property is a beautiful and makes your home renovations and updates completely worthwhile.

 

Enjoy gorgeous Ocean Views from this 3 bed, 2 bath home in Sunny Saltair.   Upon entry, you will find that the main level takes full advantage of the views from the living room, kitchen and dining room. When you step outside the main floor you will discover that the oversized deck on this level is great for entertaining or sitting and drinking in the view.

Once you go down stairs, you will find the lower level boasts a living room and a bedroom with an ocean view. Cozy kitchen, 4 piece bath, laundry and loads of extra storage round

Saltair Waterfront Home
Fantastic Saltair Boathouse

out this floor.   And a large workshop on the lawn level would be suitable for all kinds of projects. Plenty of fruit grows here, grapes and raspberries and peach, pear and plum trees. Access out to a covered and closed in patio leads to a fully fenced yard, with a gated path leading directly to the ocean front. Bonus is a boat house on the property.  This Boat house is grandfathered into the property.  Therefore, an owner is allowed excellent access to the riparian zone.  This is a huge plus.

Don’t miss out on this opportunity to own a dream waterfront location in a beautiful neighbourhood!  It will be worth the look.

For more information or to book a viewing call or text Lorne Gait at (250) 618-0680 or Email lorne [at] lornegait [dot] com.

Video of the Home  . . .

Pictures of the Home . . .

If you want to find your way to this property, here is a map from Nanaimo Airport to this beautiful  Saltair waterfront Home  . . .

Guiding you home . . .  to an ocean view home on Vancouver Island at 286 Bayview Ave., Ladysmith, BC Home . . .

Lorne Gait and Morgan Fisher are professional realtors who can help you find your Vancouver Island Waterfront or Waterview  home. To start the conversation follow this link — Get in touch.

Chemainus Ocean View Home

Chemainus Ocean View Home

Relax and enjoy a stunning Chemainus ocean view Home  This is a beautiful 3 Bed and 2 Bathroom level entry basement walk out home and it could be your perfect retirement place to be.

The area is quiet, and the homes are near new. There is an easy pathway to the Beach a hundred yards or so from the front door of this home. This home offers great ocean views from the open floor plan kitchen/nook/family room area, from the third bedroom and from the master bedroom. The master bedroom

Want a home in Chemainus? How about this Chemainus Ocean View Home?
This beautiful Chemainus Ocean View Home located at 3089 Seahaven Road, Chemainus, BC is a perfect place to call home near the ocean

offers a large walk-in closet and an en-suite with double sinks and shower. The living room and dining room areas are open but divided by an attractive double-sided gas fireplace. These rooms together with the kitchen and family room areas will be perfect for entertaining guests. The double door garage will give you ample room for two cars or for a car and storage. The downstairs of the home offers lots of crawl space storage together with a great workshop area. A spacious deck at the back of the home gives great summer time recreational space for BBQ times. A side driveway area could be great for storing your boat or an RV. Call or text Lorne Gait at 250-618-0680 or Jill Dashwood at 250-616-1184 for more information or a viewing today. Check out the slide show by clicking on the media link.

Video of the Home  . . .

Pictures of the Home  . . . view these . . . but we have more . . .

 

 

If you want to find your way to this property, here is a map from Nanaimo Airport to this beautiful  Chemainus Ocean View Home  . . .

Guiding you home . . .  to an ocean view home on Vancouver Island at 286 Bayview Ave., Ladysmith, BC Home . . .

Lorne Gait and Morgan Fisher are professional realtors who can help you find your Vancouver Island Waterfront or Waterview  home. To start the conversation follow this link — Get in touch.

Ladysmith Ocean View Home at 103 Gifford Road

Ladysmith Ocean View Home at 103 Gifford Road

This  great Ladysmith ocean view home needs a new owner.  Enjoy the amazing wide ocean views in this spacious 2404 Sq. Ft. half

A great Ladysmith Ocean View Home
Beautiful Ladysmith Ocean View Home

duplex with five bedrooms and three bathrooms. It is a mere ten-   minute walk from your door to ocean front activities at Ladysmith’s Transfer Beach and to shopping in Ladysmith’s historic downtown.  

This home has the feel of a single family home. A quick drive past will explain why, as you see only this home fronting onto Gifford Road. The other half fronts onto an alley. The main floor treats you to

ocean views in the living room, dining room and kitchen. A master bedroom and ensuite with two more bedrooms finish the upstairs area. Downstairs you will find an in-law suite boasting two bedrooms, a second kitchen, bathroom and living room. A bonus is lots of parking including a 21’3″ by 13’11” garage and outside area for three additional parking spots.

This home has three decks–two up and one down on the ocean view side. The yard has room for gardening and offers some privacy with a picket fence. Heat pumps are located up and down. Quick occupancy is possible. Call Lorne Gait at 250-618-0680 of more information or a viewing today.

A video Tour of the home . . .

Pictures of the Home and View . . .

 

If you want to find your way to this property, here is a map from Nanaimo Airport to this beautiful  Ladysmith Ocean View Home  . . .

Guiding you home . . .  to an ocean view home at 103 Gifford Road, Ladysmith, BC Home . . .

Lorne Gait and Morgan Fisher are professional realtors who can help you find your Vancouver Island Waterfront or Waterview  home. To start the conversation follow this link — Get in touch.

Vancouver Island Lots and Land for Sale

Vancouver Island Lots and Land for Sale

Lot 20 Trans Canada Highway, 670 Farrell Road and 674 Farrell Road

Here is a great opportunity to own Vancouver Island Lots and Land.  Lot 20 Trans Canada Highway, 670 Farrell Road and 674 Farrell Road are beautiful Ocean View Properties.  Lot 20 is 5.767 acres.  670 Farrell Road is 5.63 Acres and 674 Farrell Road is .47 Acres.   Property.

The highest and best use is for a high end single family lot
development or possibly higher density. The Town of Ladysmith is very willing to assist you to create a PLA to develop this prime land. The Town Director of Development services will be happy to discuss her ideas of what you can do with this property and with the one adjacent to it at Lot 20 Trans Canada Hwy. Together these three properties make up an 11.87 Acre area for new Town of Ladysmith stunning ocean view homes.  This land has quick access to town services, marinas, shopping and highway.This land has quick access to town services, marinas, shopping and highway. It will be a welcome development in the Town and Region.

Lot 20 Priced at $895,000.00

Lot 20 is currently in the Cowichan Valley Regional District.  However, an Application has been made to bring it into the Town of Ladysmith.  The process is currently before the Province of British Columbia.  As is,  this property could be used in its current zoning for a single family home with suite.  The highest and best use is likely to develop a Preliminary Land Assembly (PLA) with the Town of Ladysmith for a subdivision of ocean view homes.

  • For Plot plans contact Lorne Gait at 250-618-0680
  • Pics for Lot 20
  • Video for lot 20

670 Farrell Road Priced at $1,000,000

670 Farrell Road is in the Town of Ladysmith.  This property has a drilled well and could also be used as is to build a beautiful ocean view home on acreage.  The highest and best use is likely to develop a Preliminary Land Assembly (PLA) with the Town of Ladysmith for a subdivision of ocean view homes.

  • For information package and plot plans contact Lorne Gait at 250-618-0680
  • Pics for 670 Farrell Road
  • Video for 670 Farrell Road

674 Farrell Road Price TBA

674 Farrell Road is a smaller property owned by the Town of Ladysmith.  It is their purpose to sell it together with the other two properties as a part of a Preliminary Land Assembly (PLA) to develop the lands behind this property for future Town of Ladysmith housing.

  • For information package and plot plans contact Lorne Gait at 250-618-0680

Vancouver Island Realtor Lorne Gait . . . Guiding your way home . . .

These are a few quick pics of the home.   We do have a few more. Email us for more pictures.  We will be happy to send them to you.

If you want to find your way to these properties, here is a map from Nanaimo’s Departure Bay Ferry t to these Properties–Vancouver Island Lots and Land   . . .

If you would like more information on these properties, let’s Get in touch.

Lorne Gait is a professional realtor who can help you with your Chemainus home purchase or sale.   Feel free to browse this web site or visit Lorne’s waterview WEBSITE.

Vancouver Island Real Estate and New 2018 Canadian Mortgage Rules

Vancouver Island Real Estate and New 2018 Canadian Mortgage Rules

Are you ready for new Canadian Mortgage rules?  If you applied for a new mortgage after January 1, 2018, would you qualify.

Check out this interesting news release . . .  CLICK HERE

Vancouver Island Realtor Lorne Gait can help you with the new 2018 Canadian Mortgage Rules
Vancouver Island Real Estate and the new 2018 Canadian Mortgage Rules

If you have any mortgage questions, Vancouver Island Realtor Lorne Gait or Morgan Fisher can help you.  Further, they can help you find a great Vancouver Island Mortgage Broker who can assist you with your mortgage needs.

In the past the mortgage stress test was used only for those who were putting a small amount of money down on their purchase and as as result needed CMHC financing.  As of January 1, 2018 all Buyers who need a mortgage will need to pass the stress test.  CLICK HERE for more information on the stress test.

 

Prior articles on Mortgages:   A Second Opinion;Take Charge
 

Vancouver Island Real Estate Market Forecast for 2018

Vancouver Island Real Estate Market Forecast for 2018

Vancouver Island Realtor Lorne Gait talks about the current Vancouver Island market

Understanding where the Vancouver Island Real Estate Market will go in 2018 -- a forecast
Lorne Gait helps you with Vancouver Island Real Estate Market Forecast for 2018

Lorne helps you understand where the Vancouver Island Real Estate Market will head in 2018.  Hopefully, you will enjoy this  forecast.

The Vancouver Island Real Estate Board or VIREB–has published the Vancouver Island Real Estate Stats for December 31, 2017.

Vancouver Island Real Estate Stats

Nanaimo Graphstats to the end of December 2017

Cowichan Valley Graphstats to the end of December 2017

These two reports include:

  • Cumulative Residential Average Single Family Sale Price
  • Single Family Units Reported Sold
  • Comparative Activity by Property Type
  • MLS® Single Family Sales Analysis
  • Cowichan Valley – Single Family Sales by Subarea
  • Nanaimo – Single Family Sales by Subarea
  • Gabriola Island

Contained in these stats is information on the Average House Price for the region, the amount of homes sold and much more.   In this update, we are considering two Real Estate Board areas.  These are the Cowichan Valley Region which goes from Mill Bay through to Ladysmith and the Nanaimo Board area which goes from Cedar up to North Nanaimo.

In many ways, these statistics form a great way to look at the market that has past and to predict the market that will come in 2018.

A quick look at the stats shows that prices are upward as there is less supply in relation to the amount of demand.  In the Nanaimo, the average home went up from $451,65 in December 2016 to $529,724 in December 2017.  In the Cowichan Valley, the average home went up from $401,494 in December 2016 to $465,198 in December 2017.  This upward trend took place in Apartments, patio homes and townhomes for both regions.

Looking forward, the best indication of the immediate future is what has taken place in the recent past.  When we look at the statistical facts, this is still a Seller’s market.  There is less supply and more demand which continues to put upward pressure on the housing industry.

Vancouver Island Real Estate Threats and Opportunities

Threats . . .

However, there are some threats to the market.  The first is the global downturn in real estate.  In many areas of the planet, higher taxes and costs related to owning real estate have caused real estate values to drop.  So far, the exception has been niche / exclusive high end real estate.  The exceptions are mostly in North America.  Already there have been reversals for the worse.  Examples are Australia, Toronto, and London.  To this time, the market is still good in Hong Kong, New York and Vancouver.  However, there are warning signs ahead.

Other threats include new mortgage rules which create mortgage stress tests for all who require mortgages; more provincial and local taxes; more and increased foreign buyer taxes for those who wish to invest in the local market.

Opportunities . . .

At the same time as there are threats, there are also opportunities.  First, this is a great time to downsize from larger single family homes to townhomes and condos.  It is a great time to buy a new home–especially with the BC Government new home rebate on Property Transfer Tax.   Furthermore, it is a great time to relocate to one of the best places in the world to live.  Vancouver Island Real Estate offers, arguably, one of the most exclusive real estate opportunities in the world and in one of the best countries in the planet.

Vancouver Island Real Estate Market Video . . .

 

Hopefully this Forecast has helped you to gain insight to current conditions  in the Vancouver Island Real Estate market for 2018.  If you have questions about the data detailed in this post or in the reports, or if you would like to discuss the stats in detail with Lorne, please get in touch.

Wonder what your property is worth in today’s market?  Let’s Get in Touch . . . 

Helping you is what we do. ™

Vancouver Island Real Estate Buyer and Seller Specialists