2016 was a great year for homeowners in Nanaimo

Demand is up. Prices are up. Real estate inventory supply is short.

 

Nanaimo has become a transportation hub for Vancouver Island, with a new cruise ship dock, airport having had 5 years of record passenger growth, a growing technology sector and a plan to have a passenger ferry service that will take you from downtown Nanaimo to downtown Vancouver. Nanaimo Real Estate has been following this same trend.

 

  • Single-Family homes increased 20.41% to $429,200
  • Condos and Apartments increased 14.43% to $245,100
  • Townhouses increased 19% to $258,300 in 2016

 Thinking about selling your home? Here are some tips

Putting your home on the market can be stressful, and some owners have a hard time making objective decisions when it matters most. We will perform a current market analysis. Look closely at the comparable sales of similar homes in your neighborhood that have sold in the last few months and take the number of available listings into account when agreeing to an asking price.  Homes that have failed to attract a buyer in a reasonable period of time may be overpriced. Pricing your home competitively from the get-go increases the odds of a quick sale. If you must sell your current home to afford a new one, consider putting it on the market before starting your search. You can often negotiate a better deal on a purchase if your property is under contract or you already have the cash in hand.

It doesn’t pay to set the price too high; most buyers will need financing and the bank will generally use an appraisal based on recent sales to justify the loan amount. New listings are called “hot” for a reason – buyers get excited about them! Showings are likely to cool off noticeably after the first 30 days on the market. When prospective buyers walk through your home, they tend to imagine it as if it were their own. You can help them envision their dream space by presenting a clean, clutter-free environment. Show off your storage space, clear out closets, basements and garage as prospective buyers are always on the lookout for ample storage space.

 

Easy tips to organize your space

 

Do you spend time searching for your car keys, a bill or an item you haven’t used in awhile? For many of us, this is a weekly, if not daily, occurrence. As we accumulate more and more stuff that we may or may not love or use as often, it becomes difficult to find the item we really need. Household clutter is often the result of disorganization, not lack of space. Schedule time to clean and organize a room in your home every week.

 

Give each item a home. Everything you own should have its place, whether it’s on a shelf or in a drawer or basket.

 

Get support. Improve the chances that your family will maintain the new system by enlisting their help in creating it. Ask for their ideas for systems that will work with their habits and personality.

 

Be picky. When you are cleaning, keep in mind: If you don’t love it and it’s not useful, get rid of it. When buying things, ask: Where can I put this? What will I do with it? What will it replace?

 

It’s safe to assume that it will take twice as long as you initially estimate, especially if you’re sorting sentimental items. Try breaking it up into small chunks of time focused on one room at a time.

 

Never underestimate the power of pretty boxes. You’re more likely to stick to your new system and stay organized if you like the look and feel of your storage unit.