Hello everyone !
Well here we go, the second newsletter that I am doing "my way" instead of the preprinted version. The feedback that I received was that everyone wanted the less commercial version, plus the launch of the "TeamW Real Estate Club"©.
I hope you enjoy the club; it is certainly open to revision and input from you, our "Preferred Clients" and hopefully members of our club!
We really have only one request... please. I would appreciate it if you did not share information about the club with other Realtors®. Also please be aware this is not intended to solicit property already listed for sale with a licensed realtor (real estate act rules require this fine print). Hopefully none of you, our "Preferred Clients" would be listed with any other Realtor®! but you never know.
So I am sure that first and foremost on everyone's mind is... "What is up with the real estate market?" Well... I finally have all of last year's statistics and the market performed just as it was predicted to. Actually, across the board the statistics show a little better return than what the pundits said.
Locally in Zone 5 as of Dec 31st/2007
(greater Parksville - Qualicum area):
- Over the last 12 months to date, a single family home on average sold for $379,433 / up 14% over 2006;
- Month to month, a single family home on average sold for $392,313 / up 10 % / (Dec 2007 over Dec 2006);
- The biggest difference is that the time it takes to sell is up: from 49 to 61 days. (a 23% increase in time);
(Vancouver Island-The Vancouver Island Real Estate Board - the area north of "The Malahat Drive")
- Over the last 12 months to date a single family home on average sold for $329,133 /up 13% over 2006;
- Month to month, a single family home on average sold for $346,857 /up 21% (Dec 2007 over Dec 2006);
The Parksville Qualicum Beach area is holding its usual place as the most expensive average sale price outside of Victoria, although the Shawnigan/ Cowichan/Duncan area is running a very close second.
The top part of our marketplace over $600,000, including waterfront and acreage, has been reacting a bit differently in 2007. The average time on the market historically goes up in direct proportion to the dollar value. In 2007 the $900,000.00 to $1,000,000.00 was an anomaly at 71 days on the market. If it had followed the normal trend it should have been between 97 and 123 days.
There were 140 sales from $600,000 to $7,500,000 with the average price being $906,000.00. Overall 47% of those deals were waterfront sales.
We have also noticed that it would appear we don't have as many "prairie snowbirds" around this year. My guess is that the strength of our dollar is sending folks south for their winter holiday and a chance to get away from the cold. The Cdn. dollar has been hovering at or over par with the U.S. dollar, and one day it was almost $1.10! We haven't seen that kind of dollar value in 30+ years! The other reason may be that there are not as many monthly seasonal rentals available that are at a acceptable rate. One waterfront down the street from us on Madrona is $2600.00 per month during the winter and $2600.00 week in the summer.
We are busier earlier this year than we normally see. We have had a number of sales already this year and there are certainly plenty of buyers looking around. The highest demand is 3 bedroom ranchers on crawl space (which is normal) under $500,000.00.
Currently of the listings over $600,000 only 25 % are on the waterfront. We still have a number of waterfront buyers looking. As always they have very specific wants and needs so unless they find the "perfect fit" they generally keep looking. There are a couple of "good deals" currently, but they require imagination... either the house or lot needs work... (or they are over $2,000,000.00 and below replacement cost!) The top part of our marketplace, including waterfront and acreage over $600,000 has been reacting a bit differently in 2007. The average time on the market historically goes up in direct proportion to the dollar value. As I always call it the "Spring Fling" where everyone throws their home on the market whether they really want to sell or not just to see if someone "oil rich" from Alberta or having just fallen off a turnip truck (and bumped their head) will come along and pay too much for their house. We try to remind everyone that rich people are rich, because they make good investments and manage their money and time pretty wisely.
Personally life is great. Rudi and I are continuing our personal and couple courses that we have been taking over the last few years. It's interesting that even after 27 years together we can continue to learn new things about each other. These courses are all a continuation of our life philosophy of "paying it forward" and believing that everything happens for a reason, usually to try & teach me something & boy oh boy am I a slow learner most times!
We count our blessings every day! Especially since between Christmas and New Years our daughter-in-law Andrea rolled & totalled her car on black ice early one morning on her way to work on Saltspring Island (she was not speeding)! She is O.K. She has a neck brace and has been pretty sore, but all in all it could have been so much worse! Cars can be replaced! They now have a new 4x 4 Dodge Patriot, which should last them a long time and also give Nick access to Mount Washington assuming his transfer to Comox comes through this spring. They are both still very excited about the pending move, as are we. It will be nice to have them a bit closer... especially if there are more grandchildren some day. Comox is perfect... not too close but close enough if need be.
We hope that this newsletter finds you all well and happy in your lives! Please feel free to give us feed back on the Club... and please join as well!
We are going to be doing 4 different client appreciation contacts or events this year so you should be hearing from us soon! Please REMEMBER WE ARE NEVER TOO BUSY FOR YOUR BUSINESS & REFERRALS AS OUR BUSINESS DEPENDS ON IT. Also we look forward to any real estate questions you may have in the mean time OR REAL ESTATE QUESTIONS! Especially right now if you have questions in regard to your recent tax appraisal of your property.
Thanks
Trish & Rudi