Area Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

Feb. 6, 2019

Top Agent List - Rate My Agent

8 Top Nanaimo Real Estate Agents of 2018 Announced by Rate-My-Agent.com



(Nanaimo, BC, February 4th, 2019) The top 8 Nanaimo real estate agents for 2018 were announced last month by Rate-My-Agent.com.  The review site compiled and published the list of top rated Nanaimo agents based on ratings and reviews received during the past year.

 

In ranked order, lowest to highest, the agents are:

 

8.   Neil Aldridge

7.   Jan Stromar

6.   Nicole Hindman

5.   Joseph Goh

4.   Susan Webster

3.   Donna Goodall

2.   Trung Le

1.   Lynn Donn

 

Unlike other agent ranking sites, agents can’t pay to have negative reviews removed or hidden and cannot pay to be included on the list of top-rated agents.  The company says the reviews are verified through a process they wouldn’t disclose in order to protect the integrity of the process.  When asked if they’ve had agents try to cheat, a spokesperson confirmed, “Yes, there have been many attempts by agents to game the system and rankings, which is why we keep our algorithms a closely held secret.”

 

The list will be published annually based on that year’s verified reviews.

 

Rate-My-Agent.com is a rating and review website for Canadian and American markets.  It’s free for the general public and real estate professionals.  The company pledges 50% of profit to worthy causes.

Posted in News
Nov. 19, 2018

November Market Statistics

November 2018

Another month has gone by, and I hope everyone had a good Remembrance Day long weekend.  With Real Estate entering the winter months, some of the biggest questions out there is; How is the Real Estate Market doing on Vancouver Island?  Are the prices of homes going to drop a lot now that the market is shifting?  

The plain and obvious answer is, that yes the market has started to shift.  You can see it all over the major cities like Vancouver and Victoria, but here in Nanaimo?  Yes, we have had a shift also, there are more inventories.  That being said, prices of homes have stayed steady, and homes are still selling.  Below is graph information for you to really digest on how the market is here locally in Nanaimo and its surrounding area.

Posted in Market Updates
Nov. 19, 2018

Marijuana Legalization and Real Estate

Marijuana Legalization and Real Estate

As of October 17, 2018, Canada legalized the growing and recreational use of Marijuana. There are still many questions that are still uncertain. First off, with the new legalization, the law allows an individual to grow up to 4 plants in their residence. So how does that affect real estate in general? As with what we saw in Colorado, USA. After the legalization of marijuana, there was a huge growth in demand for warehouses and retail shop. In Canada we are seeing the same effects here, except there is no demand in a retail shop in Canada due to the fact you can only purchase them from government-run or approved shops, or mail order online. So what about residential real estate?

The thing to keep in mind about buying, selling or even renting real estate, is that its only been one month since legalization and there is not much data on how it is going to affect the real estate market for residential. According to a report by Zoocasa, 52% of Canadians are less likely to consider buying a home that has legally grown marijuana.  This percentage is higher with the Baby boomer and the Gen Xer than the Millennials when it comes to considering a home (58% and 59% to 38% respectively). So with that reporting, it sure seems that it could devalue your home, but unfortunately what if the seller does not disclose? or how about, is there a law requiring such disclosure? Being that this is such a new law, we still have a lot of information we need to digest, and hopefully sooner than later, we will have a good answer for you.

So when you are out looking for a home, always do your due diligence and ask questions.  Get a home inspection, do everything you can to make sure you are doing what is best for you, and understand all the risks.  

Posted in Market Updates
July 31, 2017

Curious About Local Real Estate?

Receive the Latest Local Market Stats

Curious about local real estate? So are we! Every month we review trends in our real estate market and consider the number of homes on the market in each price tier, the amount of time particular homes have been listed for sale, specific neighborhood trends, the median price and square footage of each home sold and so much more. We’d love to invite you to do the same!

Get Local Market Reports Sent Directly to You

You can sign up here to receive your own market report, delivered as often as you like! It contains current information on pending, active and just sold properties so you can see actual homes in your neighborhood. You can review your area on a larger scale, as well, by refining your search to include properties across the city or county. As you notice price and size trends, please contact us for clarification or to have any questions answered.

We can definitely fill you in on details that are not listed on the report and help you determine the best home for you. If you are wondering if now is the time to sell, please try out our INSTANT home value tool. You’ll get an estimate on the value of your property in today’s market. Either way, we hope to hear from you soon as you get to know our neighborhoods and local real estate market better.

Posted in Market Updates