Wes Smith RE/MAX Ocean Pointe

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Newer one-level home on private quiet 5 acre property in North Cedar. First time on the market! Located on a no-thru road - this home's features include: a huge deck with panoramic ocean views, a large covered area that can be used all year, a wrap around covered porch that extends around the side to the front door, and a newer hot tub that comes with the house; a "great room" with open kitchen / living room/ dining room complete with kitchen island/ breakfast bar, couter-top stove, double ovens, freestanding wood stove, walk-in pantry, and hard wood flooring; a generously sized bedroom with walk-in closet and 5 piece ensuite (and access to the deck/hot tub).
Extra features include 9' ceilings, double-car garage, heated crawl space for extra storage, laundry room with separate sink, and heat pump. 
Minutes to Cedar shopping, schools, BC Ferries, swimming holes, walking trails. South Nanaimo 5 minutes away! 
Make an appointment to view today!
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BCREA 2012 Third Quarter Housing Forecast Update

Vancouver, BC – August 30, 2012. 


The British Columbia Real Estate Association (BCREA) released its 2012 Third Quarter Housing Forecast Update today.


BC Multiple Listing Service® (MLS®) residential sales are forecast to edge down 4 per cent to 73,400 units this year, before increasing 7.5 per cent to 78,900 units in 2013. Since 2009, MLS® residential sales in BC have ranged between 74,000 to 78,000 units. A record 106,300 MLS® residential sales were recorded in 2005.


"Despite more robust consumer demand in the Interior, fewer home sales in Vancouver will pull the BC total lower this year," said Cameron Muir, BCREA Chief Economist. "However, a notable growth trend in full-time employment combined with persistently low mortgage interest rates is expected to boost housing demand around the province in 2013."


"MLS® residential prices are expected to remain relatively stable this year and through 2013, with changes in average price statistics largely the result of a differing mix of home types sold and shifting regional demand patterns," added Muir. Average price data for Vancouver was skewed artificially high in 2011 by a wave of detached home sales in the priciest neighbourhoods. Lower Mainland's share of provincial home sales is expected to decline to 58 per cent this year from 62 per cent in 2011. The average MLS® residential price in BC is forecast to decline 7.8 per cent to $517,500 this year, and remain relatively unchanged at $519,000 in 2013.


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August 1, 2012

July Vancouver Island Housing Sales Jump 14 Percent

NANAIMO, BC – Multiple Listing Service® (MLS®) sales summary data released by the Vancouver Island Real Estate Board (VIREB) shows housing sales activity across Vancouver Island increased a full 14% last month as compared to a year ago, while average sale prices edged downward 3%. Across VIREB’s coverage area in July average sales prices dipped slightly when compared to July 2011, but the dollar value of home sales rose 11% compared to a year earlier. The average sales price of a single family home sold within the VIREB region in July was $334,530 down minimally from the July 2011 average price of $344,655. The number of unit sales (on a year to year basis) increased 14%. In July 2011 338 single family homes were sold, in comparison 385 unit sales were recorded in July 2012. The number of homes listed last month dipped incrementally by 1% as compared to June 2011.


“This is a much more positive sign, and a strong indicator of increased consumer confidence,” explained VIREB President Guy Bezeau. “These numbers are part of an overall collaborative effect – terrific interest rates, a phenomenal and varied inventory of homes to choose from and finally good weather last month that encouraged people to get out and see what’s available. I think people had been sitting on the fence for a long time and last month they realized that the time is now.”


As of the end of July 2012 there were 3,317 single family homes available on the Multiple Listing Service® (MLS®) within VIREB’s coverage area, up approximately 3% from the 3,236 homes in the system at the end of July 2011. In July there were 777 homes listed on the MLS® system, down 1% from the 781 homes listed during July 2011


“The market has definitely been doing very well,” said VIREB Past President Jim Stewart. “There has been a lot of activity in the marketplace right across the Island. With all of the positive factors that have come into play this is clearly the right time to get into real estate. The projections from BCREA indicate that mortgage rates will continue at these historically low levels for some time to come. So with the choices out there buyers and sellers are both going to be winners.”


Stats (downloadable PDFs):  click to download


Summary VIREB Area (Vancouver Island except Victoria)


Summary VREB Area (Victoria)


Nanaimo (incl Gabriola Island) 

Cowichan (Duncan, Ladysmith, Mill Bay)

Parksville/ Qualicum

Comox/ Courtenay

Campbell River

Alberni (incl. Uculet & Tofino)



Market update video from VIREB:

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Vancouver, BC – July 12, 2012. The British Columbia Real Estate Association (BCREA) reports that during the first half of 2012, BC residential sales dollar volume declined 17.1 per cent to $20.4 billion, compared to the same period last year. Residential unit sales dipped 9 per cent to 38,312 units, while the average Multiple Listing Service® (MLS®) residential price was 8.9 per cent lower at $533,681.


"The pace of home sales slowed during the first half of the year,” said Cameron Muir, BCREA Chief Economist.


“However, the downturn is likely to be temporary as population growth, persistently low mortgage rates and encouraging employment figures suggest a stronger second half of 2012."


"The 5-year conventional mortgage rate remains within 5 basis points of its 20 year monthly low. BC’s population is growing by approximately 45,000 individuals a year. Full-time employment climbed 3 per cent during the first half of 2012 at the expense of part-time employment, which declined 1.9 percent."


The dollar volume of homes sold through the MLS® in BC declined 24.1 per cent to $3.4 billion in June compared to the same month last year. A total of 6,815 MLS® residential unit sales were recorded over the same period, down 13.8 per cent from June 2011. The average MLS® residential price was $503,232, 12.0 per cent lower than a year ago.



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I have listed a new property at 3034 Doncaster DR in Victoria.

Renovated 3 bedroom rancher on extra large fenced lot (.17 acre) at a great price!

Recent upgrades include a new roof, new windows, updated kitchen (with pine cabinets) and bathroom, updated plumbing and electric, refinished fir floors, and newer appliances. Very bright home with an open concept kitchen/living room. Breakfast bar is an added bonus. A detached garage, a massive mature pear tree, and covered rear patio round out this property.Lots of room for RV/boat parking.

Lane access. Walking distance to several schools, Camosun College, Cedar Hill Golf Course, Cedar Hill Recreation Centre, Oaklands Community Centre, numerous parks, & the (soon-to-be) renovated Hillside Mall. Close to bus routes. Easy access to all major traffic arteries.

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