Richard Leischner -

Well spring hasn't even sprung yet but we are seeing the market take off already. Sales are up, average prices are up and inventory remains low. Despite all the white stuff that we have had to contend with this winter it hasn't seemed to slow down business. Areas of most activity continue to be the north end of Nanaimo but the south end has quicky caught fire. In January, South Nanaimo outsold all other sub areas in single family homes. Being one of the last affordable neighbourhoods in Nanaimo we have seen continual growth over the past 18 months. Average prices have now surpassed $400,000 which marks history for the area that used to be called Scarewood! With neighbourhoods turning over, new business moving in and many amenities nearby, buyers are starting to see the value.  New construction has now crossed over the $500,000 threshhold which is leaving buyers scrambling to try and find the last remaining deals in Nanaimo. I have helped several buyers over the past couple months get into homes without having to break the bank but these opportunities are starting to become more and more scarce. If you have intererst in becoming a home owner while prices are still somewhat affordable then contact me today. I'm always happy to help and almost always available. Feel free to contact me anytime.

Well it's been almost 2 weeks since I made the last post where I spoke about the spring market and how it shows up earlier than people think. The most recent listing of mine that hit the market last Thursday had immediate requests. To date we have had approximately 20 showings. I will be presenting all offers from those showings this evening to my clients. The primary reason this has occurred is because my client's home was one of very few available in all of Nanaimo for under $350,000. Once March and April show up that simply won't be the case anymore. Taking advantage of this opportunity is going to pay immediate dividends to anyone interested. If you would like your home to generate this same kind of attention then don't wait months. Contact me today for more information and a free appraisal. 

Richard

It's been a long time since I've blogged on here. It's amazing how work and life get in the way! Today I wanted to speak about the spring market for a moment. Every year when speaking with sellers I get the same story. "We are going to wait until March or April before listing." Let me tell you for a moment why that isn't always the best outlook.

First off, there are always buyers in the market. Due to job relocation, growing families, death and divorce, there are always people looking. Add investors and foreign buyers into this mix and you can see how quickly the market can be congested. Now everyone seems to think that you have to wait for the flowers to bloom and the grass to be freshly cut in order to get the most money for their home. In reality though this isn't true.

I looked on the local MLS system just the other day for any homes in Nanaimo under $425,000 that had 4 bedrooms and 2 bathrooms. Now we know that the market has been booming but most buyers are still looking in this price range. I found a total of 15 homes in all of Nanaimo that met these needs. This list of homes stretched as far north as Lantzville and as far south as Cassidy.

If you were to put your home online tomorrow you might only have 1-2 comparable homes to yours in all of Nanaimo! Come spring time you will have considerably more competition. This translates into your house having to stand out over the competition in order to sell faster. Get the idea? Supply and demand is what drives prices. 

If you still wish to wait until the flowers bloom then so be it but if anything of what I just said made sense then please feel free to contact me today for a free assessment of your situation. I belive in educating people so that they have a better understanding of the market and how it can affect them.

I hope to hear from you and as always, Have a great day!

Richard