Real Estate in Qualicum Beach, Parksville, and Nanoose Bay

Anchor Realty 113 West 2nd Avenue
Qualicum Beach, BC Canada (250) 667-0719

Nancy Smith’s Oceanside Real Estate Blog

Nancy’s Real Estate Market Update

Foreclosure: Speculation

Are Market Home Prices Dropping Now?

"Real estate prices can not get any higher, the prices are going to collapse soon." Sound familiar? These stories have prospered as much as real estate prices. On topic, will foreclosure activity increase to where bargains can be had? Well, that also isn't quite true or feasible either. Real estate is a market commodity where prices fluctuate depending on demand, as Sellers and Buyers set the values.

'Buy the Dip' is unlikely.

Where are home prices headed in the next five years?

Buyers Requiring Financing, Will Fuel the Market

The current home price increases are not isolated to North America, but are also occurring in many of the 38 countries that make up the OCED. The UK, South Korea, New Zealand, CANADA, and Turkey top the list. Many investors, journalists, banks and financial consultants all try to predict market movements, and often fail.

Coping with the Present, Looking to the Future?

The Covid-19 Pandemic has distracted our attention from the realities of Canadian living, living standards and our fractured labour market. Pricing for real estate, goods and services and even a cup of coffee is all over the map.

Items included or excluded from a sale can be a surprise.

Often a real estate purchaser enters their new home to find many surprises, some are delightful, and some are depressing. Buyers and Sellers should take note of what constitutes a Chattel in a real estate transaction. CLICK on "Read more" for an outline.

To Chattel or Not to Chattel

Everyone loves to shop for a deal, and claim bragging rights. It is human nature. Over the course of my career in real estate sales, some deals just will not come together while sellers and buyers argue over incidental chattels. We are talking about properties valued at $400,000 and even $800,000 and the only division is that ceramic plant pot or LED 50" television set. CLICK on "Read more" for the rest of the article.

Who Sets the Real Estate Sales Price?

This Blog is in reference to a recent Globe and Mail article, which can be found online: https://www.theglobeandmail.com/canada/article-real-estate-sales-tactics-under-fire-as-canadian-home-prices-spiral I can not answer this question, but here are a few ideas to consider from a REALTOR's point of view. 1) Homes are not something you buy off the shelf at a store, and when inventory is low, the store reorders more of the same product. Real estate is location dependent, and desirability and a fat wallet determines the value. 2) REALTORs do not set the selling price, as that could be considered an issue with the Competition Act. REALTORs can only research past sales to decern a probable market price, but it is the Buyer who actually decides the final price. 3) Sellers do not set the selling price, as proven by over-priced properties that languish on the market. Location, condition of property and buildings is a fluid assessment, in that no two properties are identical. 4) It is suggested that all offers be open to viewing by all prospective Buyers. This creates a scary situation in that every offer on the table can be upped. Closed offers creates a barrier and puts each Buyer on the same level, in they can put their best offer forward, based on their own research and needs. There are numerous ways to achieve a real estate sale or a purchase, and using a REALTOR and the MLS is just one way. Often the disgruntled will lobby for change based on their personal experiences. However, as a Buyer, it is still their own responsibility to fact check, research and ultimately make a final decision. Buying real estate is not as easy as buying a jug of milk. Click on Read More to view the Globe and Mail Article.

How to Navigate the Current Market.

In our local area, time and time again, offers to purchase a new home, subject to financing fails. There is a lot of frustration not only for home buyers in our current market, but also for REALTORS who put in hours and hours of research, effort and mountains of paperwork, only to be trumped by a Cash Offer without any Subject to Sale clauses.

When a REALTOR says JUMP, ask How High?

With all the chatter about real estate listing shortage, one glaring fact is shown in the following graph. As we navigate the current pandemic restrictions and travel restrictions, the difference in available listings and the immediate sales graphic lines, are nearly overlaid, leaving many buyers standing on the sidelines. In a few examples, buyers are nearly in panic mode as some are making financing-free and subject-free offers to nail down a home.

A REALTOR can be a Necessary Tool in Today's Market

Many people start their real estate education by visiting Google, Realtor.ca and other web sites. However, real estate transactions have become very regulated and quite complicated in British Columbia, Canada. Buyers and seller often feel over-stressed making Johnny-on-the-spot decisions, and it has never been more stressful than during 2020.

Not offering an excessively high deposit, can lose a deal.

In the current 2021 Qualicum Beach area market, many choice homes are receiving tens of viewings and multiple offers. Many of the prime offers have been 'cash' purchases, offers with no subject-to-sale clauses. A recent situation happened where many offers were nearly identical cash offers, the only difference was the deposit. The successful and accepted offer had a substantial Deposit declared. In this situation, once the offer has been accepted, the binding deal would complete within weeks. Why didn't other offers include a substantial Deposit, and why does it matter?

Poly-B Water Pipe can Affect the SALE of Your Home

What is Poly-B Plumbing? Poly-B, also referred to as Polybutylene, is a flexible grey pipe used in hot water systems and residential plumbing. It was manufactured in between the years of 1985 and 1997 because of its flexibility, low cost, and ease of installation. It is estimated that in Canada alone there are over 700,000 homes that have had this piping installed prior to it being discontinued.

As an Interesting 2020 Closes, We Ponder Our Future.

Many homes for sale are generally in good condition, whether 100 years old or brand new. Many purchase offers contain conditions of sale based on financing, building inspection, geological concerns, and water and sewage issues. However, as shown in the current 2020 market, often an offer to purchase contains a cash offer with no 'subject' conditions.

Will Real Estate Prices Continue to Climb ?

As real estate prices continue to climb, one has to wonder either how much higher will prices go, or are we in a bubble resulting in huge price drops? In many cases, either answer is not relevant when there is a need for housing. Click 'Read More' for one explanation that can not offer a decisive answer.

Prepare in Advance When Purchasing a Home.

Question: Will a cash offer provide more leverage when buying a home?

Do Negative Internal Economic Conditions Exist?

May 19/2020 CMHC President E. Siddal predicted a housing price drop between 9 - 18% over the coming twelve months to May/2021. It is now September/2020, nearly four months later, and prices in Canada have not dropped, though a few higher end listings have undergone price haircuts, to come back to fair market value. In the Vancouver Island market, there has been very little reprieve in home pricing, with a robust market, tight listing inventory and with the unknown factors of the Covid-19 pandemic some buyers are still wondering, "when will prices drop?"

Compounded on the Retiring Baby-Boomers, will Impact the Sellers Market

Millenials... living in mom and dad's basement are coming into their thirties and maybe so is their desire to live in a single family home. Of course everyone would love their own safe space in this world, and maybe living in mom and dad's basement has driven their desire to avoid condominiums, apartments and row homes, and are striving to own their own piece of land.

Potential New Crisis in Home Building and Renovations.

UPDATE NOTE: Aug26/2020 Our listings were absolutely current two days ago, but half of these listings are already UNDER OFFER. Pent up demand is exploding. With the after-effects of the Covid-19 pandemic, many businesses have either shut down or greatly reduced output, so building materials are in short supply. The supply problem will be greatly affected by California wildfires and storms along the Eastern coast. (disclaimer, we hold WEF shares, which have jumped on this recent news)

VIREB Data is Produced in a New Format

VIREB (Vancouver Island Real Estate Board) switched to a new property data and REALTOR user system at the end of July/2020. As a result, the new MATRIX system has been adopted from the Victoria area and applied to the rest of Vancouver Island (VIREB). This conversion process has left VIREB REALTORS scrambling to serve their clients, try to process listings and sales documents. At the moment, STATS for VIREB are produced in a slightly different format? As all hands on deck are busy assisting REALTORS, we will attempt to figure out how to proceed on our website with providing real estate NEWS and STATS. Hopefully we will configure our site to provide relevant information and explanations to assist our users. Please contact us if you feel we have not provided information helpful for your needs.

Strata Market is Hot

To Strata or Not to Strata

One of the greatest challenges during the Covid-19 lockdown has been finding affordable housing on Vancouver Island. It has been forecast for many years the retirement surge will bring more shoppers to Vancouver Island. Strata properties are in high demand, though the industry and management of stratas is generally quite challenging, people still prefer the autonomy of single family homes. Homeowners prefer to make the final decisions on maintenance, repair and those wonderful upgrades and decision by committee is often labourious.

Tricks to Help Buy an Affordable Home

Many people start their home shopping by looking at price, to find the best value. The simple fact is, most homes at the lower price points, do not have current features most people want, they are not usually current homes.

Port Alberni can tickle your fancy.

Port Alberni is a forgotten jewel of Vancouver Island. When the mills were running full tilt, Port Alberni was a prosperous town. But, the mill outputs have decreased and the local residents are still lamenting the loss of activity and economic prosperity. However, Port Alberni is also the forgotten city that is slowing being re-born.

Buy, Renovate, Sell and make a huge Profit.

HGTV populates their schedule with many renovation adventure show series. While fundamentally on target with the value added benefits of renovating, upgrading and spiffing up a home, it is quite a different process to renovate for profit.

Low inventory has become more acute due to COVID-19.

*** June/2020 interesting update: Recent offers to purchase have gone multiple, with prices as high as $60,000 over asking in Qualicum Beach. *** You betcha, COVID-19 has created some havoc, but here on Vancouver Island, home for this generation of retirees, we are going to be back to business as usual in a very short time. Of course this optimism is tethered by a potential sudden shock of this pandemic, so we shall take our time and hope for the best.

Adjusting during two months of pandemic lock-down.

An inquiry to our website reminded us that some listings have not been updated in the past month, as listing status have been very active with SALES, RELISTINGS and WITHDRAWLS.

During the 2020 Pandemic, is there a Real Estate Market?

What is the real estate market doing right now? What should you do? What will other people do? Hopefully, we have a bit of a light-hearted look at the current situation.

Canadians love the lifestyle in Qualicum Beach

As posted by cheknews.ca, there were thirteen incredible pink super moon pictures, one of which was taken by David Chang in Cowichan Bay. We live on Vancouver Island to enjoy the lifestyle, the climate and to enjoy all the important little things in life. Here in Qualicum Beach we have amazing natural beauty and prolific vegetation and wild life. No wonder many Canadians want to move here. Click on 'Read more (PDF)' to view a copy of the moon shot.

REALTORS and Covid-19 Services.

Nancy Smith is prepared to help with real estate transactions.

NANCY SMITH is set up to LIST or provide a Virtual tour during this pandemic situation. We have various tools and rules to try and keep everyone safe while real estate transactions have to transpire.

Policies and Processes Continue to Develop.

Realtors must implement safety rules and guidelines to assist Buyers and Sellers who have contractual obligations. We have been deemed an 'essential service' during this global pandemic. Therefore many agencies are constantly updating information daily, to help contain this pandemic and assist people with their real estate transactions. Even though we are in a 'lock-down' state, we are devising and utilizing modern technology to accomplish our duties. In part for Sellers, we hope to implement comprehenive Video tours, keeping occupant and our safety a priority. Paperwork can be done electronically and for any face to face requirements, we shall attempt to keep all contacts safe. Thank you for your patience and understanding as we wade through the consequences of this global pandemic.

Vancouver Island Real Estate Update, Re: Coronavirus

Which part of the iceberg are you?

If one understands icebergs floating in the ocean, and that cruise ships navigate at a distance, it is because the Captain knows the majority of the ice can not be seen. If we keep this knowledge as reference, we see how the current pandemic affects life in general and how it will affect real estate sales on Vancouver Island.

Summary: Markets will pause, increasing demand.

A gentleman phoned me today asking about my take on the Coronavirus and he was curious about my opinion. The Coronavirus and the accompanying concerns are unknown. In North America we are in the early stages of the virus development, and we have yet to understand the reaction people, businesses and government will have.

Experts Weigh in On Population Growth

Concerned posted by the Town of Qualicum Beach regarding undocumented homes are now being monitored.

Some People Refuse to Use a Realtor.

My husband was commenting on a 'discount broker listed' property for sale near our home in Qualicum Beach. He was amazed that there seemed to be no action for months on this property. My husband thinks he is an astute investor and money manager so he regularly observers other people's money habits.

Do we need more Levels of Government, or Efficiency of Existing Agencies.

Real Estate agents are required to fill out FINTRAC forms to monitor potential money laundering problems.

A Few Mortgage Conditions.

Press Release today: Today, Minister of Finance, Bill Morneau, announced changes to the benchmark rate used to determine the minimum qualifying rate for insured mortgages, also known as the “stress test.” These changes will come into effect on April 6, 2020. The new benchmark rate will be the weekly median 5-year fixed insured mortgage rate from mortgage insurance applications, plus 2%. A few quick mortgage facts:

Quality Buys are Available if You Have Patience.

There are benefits and drawbacks to buying foreclosure properties, however the rewards can be well worth it.

If There Were No Mortgages, Real Estate Prices Would Drop.

What makes homes and property affordable? What does affordable mean?

It is getting impossible to buy a home, what do I do?

Buying a home requires resources, so it is best to get your 'ducks in a row' first.

Is this a result of BC's inability to control forest fires?

Condo strata insurance is facing major headwinds and potentially could weaken the Condo market.

NANCY SMITH loves living in Qualicum Beach.

No, we are not encouraging people to move to our sweet town, but as an enthusiastic resident who vacationed here as a child and moved here in 2014, I can not imagine living anywhere else.

NANCY SMITH RE/MAX Anchor Realty

Predicting how human lifestyles will change is difficult, but history has proven a continual increase in world population to the tune of 7.5 billion, with two deaths and four births every second. As population continues to grow, real estate continues to be a challenging market because we are confined to existing land mass.

Vancouver Island Prices are Trending Up

Confusion reigns when Property Assessment values have declined, but according to the Vancouver Island Real Estate Board(VIREB), property prices have INCREASED in 2019!

NANCY SMITH

A real estate agent can reduce client stress and smooth the transaction process.

Invest Wisely

I suggest when considering large purchases like property, you should hire a local expert, because they live here, and they have their neighbor's interest at heart.

Local Market Prices can exceed Assessment.

Greater Vancouver is adjusting to market shocks caused by federal mortgage rules and provincial tax policies. Vancouver Island however is enjoying a sustained vibrant market hampered by the lack of quality listings. Qualicum Beach is somewhat untouched by development projects that has expanded the housing base in Parksville. Market pricing in Qualicum Beach can exceed Assessments by as much as $100,000.

SUNDAY JULY 21ST 12 TO 4PM

Every day is beach day in Qualicum Beach but each summer in July there is also a day of special events to celebrate the beauty of our beach! Spend the afternoon on the Qualicum Beach waterfront having fun enjoying the ocean, sun, activities & food!

Western Red Cedar, Arbutus and now Salal are being affected

Climate change - Now Salal appears to be dying back too along with other tree species in the Qualicum Beach Parksville Nanoose Bay area, as we head into likely our 5th year of summer drought

December 15, 2018 - Qualicum Beach, BC

The real estate market in the Qualicum Beach Parksville Nanoose Bay Fairwinds Bowser Deep Bay area has levelled out and shifted towards a more balanced market over the summer and into the fall. In November, about 20% of listings sold in 1 week with about 50% selling in under 1 month. This is slower than it has been. We see a great gray wave of Boomers (more like a gray tsunami...) retiring to the region. At RE/MAX Anchor and RE/MAX First, our full-time REALTORS have the highest number of sales per REALTOR when compared to our local competition. Outstanding Agents...Outstanding Results.

Balanced Conditions Prevail in BC Real Estate Housing Market.

Fri, Nov 16th, 2018 - Qualicum Beach, BC

The British Columbia Real Estate Association (BCREA) reports that residential unit sales across the province were down by 26.2% compared to the same month last year. The average residential price in BC was down 4.1% from October 2017. Total sales volume showed a decline of 29.3% from October 2017. The BC housing market continues to grapple with tougher mortgage qualifications in October. However, more modest consumer demand has led to a much-needed increase in the supply of homes for sale, said Cameron Muir, BCREA Chief Economist (November 12, 2018).

Balanced Real Estate Market has Emerged

Better Market for Buyers

The Qualicum Beach Parksville Nanoose Bay Fairwinds & Area real estate market shifted towards a more balanced market over the summer and now into the fall of 2018. Local home sales continue at a slower pace compared to last year. This bodes well for buyers. Contact Nancy to find out more.

Continuing Trend Towards a Balanced Real Estate Market

Less Upward Pressure on Prices

The Qualicum Beach Parksville Nanoose Bay Fairwinds & Area real estate market has seen a shift towards a more balanced condition over the July, June & May period. The number of single family home sales has dropped by 30% with sales dollars down by 18% compared to the same period last year. The number of listings of single family homes is up by 35% compared to last year while the number of listings among all types of properties is up by 23%. It appears as though we may have begun a trend towards more balance between supply and demand, causing less upward pressure on prices.

BALANCED REAL ESTATE MARKET EMERGING

LESS UPWARD PRESSURE ON PRICES

In May, the overall number of listings was up by about 20% over May of last year. It appears as though we may have begun a trend towards more balance between supply and demand, causing less upward pressure on prices. It's important to price your property competitively given the shifting dynamics in the real estate market.

Trees are Adapting to Climate Change

Arbutus & Cedar are being affected

Forests are in the process of re-organizing themselves to a new set of conditions. See the link to today's PQB newspaper story Trees are Adapting to Climate Change.

Forest Bathing - sooth your soul

Walk the Heritage Forest trails in Qualicum Beach and take a break from real estate. See the link to today's PQB newspaper story Heritage Forest Trails.

Local Real Estate Market is Sizzling Hot

Qualicum Beach Parksville real estate is being taken up quickly by Lower Mainland buyers who have arrived, en masse.

Thu, Nov 26th, 2015 - Qualicum Beach, BC

Pre-school Munchkins recently planted trees in the Heritage Forest. Shown here are Nancy Smith of the Brown Property Preservation Society with Munchkins Finnley and Zachary Doerksen, and their mom Evelyne. The Brown Property Preservation Society, with me as President, invited them to plant a few trees. This was the very first day of the Preschool Munchkins going out into the community to explore nature. So I thought it would be great to have them plant a few tree seedlings.

Seven ways to show off champagne taste even on a Baby Duck budget.

Conjuring a luxury kitchen takes ingenuity when the finances just don’t measure up. But spotlighting a few areas can really boost an uninspiring kitchen. House Beautiful has these tips.

Fri, Apr 10th, 2015 - Qualicum Beach, BC

Kids standing on a 5 foot Douglas-fir stump in the Heritage Forest, Qualicum Beach. Tom Whitfield has asked the kids to create a 500 year old historic timeline which will be displayed on the large slabs cut from this stump in the Heritage Forest. It will eventually be on display at the kiosk in the Forest.

Fri, Apr 10th, 2015 - Qualicum Beach, BC

Tom Whitfield explaining to the kids who are going to do a 500 year-old timeline project for the Heritage Forest in Qualicum Beach.

Brown Property Preservation Society Volunteers

Nice break from selling real estate in Qualicum Beach while doing some good work with cheerful volunteers in the Heritage Forest.

Qualicum's Beach Today

Another great day to sell real estate here in beautiful Qualicum Beach on Vancouver Island, BC.

Buyers Making Decisions Carefully

Today's Baby Boomer real estate buyers take their time and make decisions carefully. They will peruse their options, seek out the best value and do their research. They are not an easy sell. For them, it is about settling in for retirement. For many, it is about down-sizing. Although Boomers still want space, luxury with quality finishing, good decks and/or patios for outdoor relaxation and entertaining plus always...a great kitchen!

Changes at the US Border Coming

Can/US Customs About to Record Entry & Exit

Snowbird Alert

Dream with Your Eyes Wide Open

Watch this Old 2014 RE/MAX real estate video.

Watch this 2014 RE/MAX real estate video called Dream with Your Eyes Open, just launched at our Vegas convention and for nationwide distribution. Dream with Your Eyes Wide Open

Here's a parable about Life for January 1, 2014

Here's a parable about Life... Three Stonecutters - One day a traveller, walking along a lane, came across 3 stonecutters working in a quarry. Each was busy cutting a block of stone. Interested to find out what they were working on, he asked the first stonecutter what he was doing.

This is excellent footage of those who went beyond...- Nov 2013

Watch this with your morning coffee to get you revved up! Get You Started!.

Video Highlighting Use of REALTOR.ca Across Canada

Great Scenery in this Video - June 2013

This fast-moving video highlights the success of REALTOR.ca in each province while featuring some gorgeous images from across the country. The scenery is quite good and I thought you might enjoy taking a look. Certainly 2012 was a record-breaking year for use of REALTOR.ca across Canada.

VOLUNTEERING

You Can Do It! - December 15, 2012

VOLUNTEERING - Many people believe they don't have the time to get personally involved or that they have nothing to offer. Everyone has something to offer.

Sun, Jul 8th, 2012 - Qualicum Beach, BC

Some of you may be interested to know that we have had a family of Great Horned owls in the west side of the Heritage Forest here in Qualicum Beach. We have been seeing 1 adult with 2 chicks. Now the chicks are about 1/2 the size of the rather huge adult. There are always several Barred owls in the eastern portion of the Forest but the Great Horned owls are new, at least in recent times. Seems they have their territories worked out. It's worth noting that the rabbit population in the neighbouring residential area has been thinned out significantly. Hey, biological controls! See you in the Forest.