NANAIMO
REAL ESTATE
REVIEW
Your Bi-Weekly Guide to Real Estate in Nanaimo, Nanoose, Ladysmith and the Surrounding Areas
ONLINE: WWW.NANAIMOBULLETIN.COM ADVERTISING INFORMATION: CALL LESLEY LIVINGSTONE-GRAY AT 250-734-4614
THURSDAY JAN. 8, 2015
FEATURE PROPERTY
CARMANAH MEWS FROM $253,900
A charming collection of 20 stylish townhomes clustered in a quiet enclave. Now Selling Phase 3. These affordable two bedroom plus den units offer many quality features including designer selected interior schemes, painted cabinetry, efficient electric fireplace, large walk-in shower in the ensuite, high grade laminate, carpet and ceramic tile flooring, spacious storage room, 2 parking stalls and 6 appliances: fridge, stove, dishwasher, over-the-range microwave, washer and dryer. Located in North Nanaimo close to all levels of schools, shopping and a family park. Call Jessica Phillips at Century 21 Harbour Realty 250-760-1066 for your personal appointment to view or visit the SHOW SUITE at Unit 1, 6183 Nitinat Way. Open Tuesday, Thursday and Saturday from 1:00 – 3:00 pm.
1st Month FREE & Use OUR Truck to Move In! call
250-758-2270
• • • • • • • •
Heated & Drive-Up Units Monitored Security Fenced Compounds Easy Access Prepay Discounts Rent Pro-rated on Move Out Open Every Day Mailboxes for Rent
5 Locations in Nanaimo
2 – THE NANAIMO REAL ESTATE REVIEW, JANUARY 8, 2015
OPEN HOUSE SATURDAY & SUNDAY 1pm to 4pm
Located at 500 Corfield St. Parksville, BC PHASE 98% SOLD OUT IV NOW SELLING PHASE I &NEW II SOLD OUT1 •- 5PHASE III & PHASE PHASES JUST RELEASED FOR SALE!
$335,000 Starting at $364,900
PLUS GST
• Beautifully finished single level patio homes.
• Oversized 2 car garage.
• 2 bedrooms, 2 bathrooms, + den.
• 1333 to 1500 sq. ft of living space.
Show Suite Designed by Patti Ransom Interior Design.
CONTACT US 1.866.956.6228 www.creeksideatcorfield.com FOR A FULL INFORMATION PACKAGE CONTACT John Cooper *PREC john@coopermclintock.com Sean McLintock *PREC sean@coopermclintock.com
* Personal Real Estate Corporation
of Nanaimo 250.751.1223
NOW OPEN 7 DAYS A WEEK COMPARE & SAVE HOUSE VALUE
CONTENTS
LIABILITY
YEARLY PREMIUM
$300,000 $350,000 $400,000 $500,000
$240,000 $280,000 $320,000 $400,000
$2,000,000 $2,000,000 $2,000,000 $2,000,000
$408 $466 $525 $642
$750,000 $1,000,000
$600,000 $800,000
$2,000,000 $2,000,000
$934 $1226
*Current rates based on maximum discount, $1000 deductible
2-4180 Island Highway North On Long Lake in Nanaimo
250.585.2950
THE NANAIMO REAL ESTATE REVIEW, JANUARY 8, 2015 – 3
LARGE FAMILY HOME - HUGE LOT 2617 Willow Grouse Cres.
LARGE CEDAR RANCHER ON HALF ACRE 2029 Woobank road
$349,900
CED
▸ ▸ ▸ ▸ ▸
6 beds 3 baths 2768 sqft. 2 bed in-law suite 2 laundries Concrete pad in private backyard ▸ Dog run ▸ Many possibilities here!!
D
SOL
U RED
NORTH END HOME, FANTASTIC VIEWS D
SOL
West Coast Realty
OLD CITY LEGAL 4-PLEX 493 Milton St. $339,000
UPLANDS CONDO 407-3270 Ross Rd
$499,900 +GST
$154,900
▸ Top floor corner unit ▸2 bedrooms, 1 bath ▸895 sqft ▸In suite laundry ▸Updates throughout ▸New Building Envelope
▸ Quality built by Ocean Green Homes ▸ 3 beds plus den and 3 baths ▸ Open concept ▸ High end finishings ▸ Oversized garage ▸ Low maintenance lot
2940 Amrik Rd
Just listed, beautiful character home with fir floors throughout the main, french doors, a turret entrance, 2 bedroom suite down with separate entrance, shed with lane access. Updated windows, newer roof.
$799.900
▸ Private 5 acre estate with 2533 sqft custom rancher ▸ 3 Beds, 4 baths, 2 substantial shops ▸ Can build 2nd home & 2nd septic field ▸ Borders Westwood Lake, secured gate
Boutique Resort Quarter ownership Studios from $24,900 1 beds from $35,000 2 beds from $99,900
Spa, pool, hot tub, meeting facilities, underground parking, gym and Award Winning Restaurant!! All of that right on the river!!
Equity Builder great for hands-on management. Live free in one unit and let renters pay your mortgage or keep as Holding Property. The suites have all been upgraded with their own electric heat. $25,000 yearly gross income. MLS#372475
351 Chesterlea Ave $279,000 ATE EDI SION S IMM E S POS
DO YOU HAVE STUDENTS GOING TO VIU? Defray your university costs with THIS UNIVERSITY AREA MORTGAGE HELPER. 1900 sq ft with 5 bedrooms, 3 up, 2 down. RECENTLY PAINTED, NEW VINYL WINDOWS. Cleaned up inside and out, alley access, quiet area AND MOVE IN READY BEFORE THE HOLIDAYS! Easy to show. MLS#382560
OPEN HOUSE - Sun. Jan.11th 1-3 pm
673 Sterling $309,000
JINGLE POT ESTATE
OLD HOUSE VILLAGE SUITES
Investment Opportunities in the Comox Valley
marilynnkennedy@msn.com
SPACIOUS SPACIOUS SPACIOUS
MLS 378312
MLS 383528
▸ ▸ ▸ ▸ ▸
www.sellyournanaimohome.com
MLS 381107
MLS 383520
5319 Royal Sea View Lane
www.MARILYNN.ca
$349,900
▸ 1,788 sq ft, ▸ 4 beds, 2 baths ▸ Updates throughout, large woodstove ▸ Large fully -fenced private yard ▸ Large shed/workshop, lots of parking
THINKING OF BUYING OR SELLING A HOME? NOW IS THE TIME!
MLS 369939
Happy New Year!
LIST WITH
“Cream Puff” Ocean View 749 Drake St. $389,000
A must see! Fabulously renovated home, 3/4” Acacia hardwood floors, new carpets, beautiful maple kitchen, granite counters under counter lighting, new wiring and lighting, new high efficiency gas furnace, new gas bbq outlet on deck, new appliances, new plumbing bathroom refinished in travertine with heated slate floor, new insulation, beautiful fireplace refaced with slate. Be first to get into this home, it won’t last long, call Marilynn direct 250-740-0884
250-740-0884
MARILYNN
▲
www.brentrussell.ca Cell: 250.739.3633 Office: 250.751.1223 brent@brentrussell.ca
Sutton Group from 1993 ~ 2014 NANAIMO’S #1 REALTOR for (based on combined MLS sales)
www.waynemyhal.com Personal Real Estate Corporation Save Thousands On Listing Commissions!!! Negotiable Commissions!!! Call Today For A Complete FREE Listing Evaluation And Commission Proposal!!!
#604 - 5800 Turner Road Nanaimo, BC, V9T 6J4
Bus:(250) 756-2112 • Res:(250) 756-7730 • Fax:(250) 756-9144 • Cell:(250)616-1792 • Email: wmyhal@shaw.ca 3 BEDROOM RANCHER PRIVATE 1/2 ACRE
2 Bedroom Condo Super North Nanaimo Location ✓ ✓ ✓ ✓
ONLY $139,900
Over 1000 sqft of living area 2 large bedrooms, 4 piece bath In-suite laundry, newer appliances Open layout, private balcony, secured entry
ONLY $359,900
✓ Over 1600 sq. ft. of beautiful living area ✓ 3 bedrooms 2 bathrooms ✓ Spectacular parklike acreage with exceptional landscaping ✓ Huge 2 garage that cab be used as a shop ✓ Very clean and well kept
2 BEDROOM CONDO CENTRAL LOCATION
SHARP PRICE!!! $165,000
SHOW LIKE NEW ONLY $355,900
GREAT PRICE $289,900
✓ 4 bedrooms, 2 bathroom ✓ Bright open layout, good sized kitchen ✓ Beautiful flat lot with fruit trees ✓ Room to build a shop, RV parking ✓ Shows immaculately
Beautiful 3 Bedroom Rancher Great North End Location
Magnificent Executive 2 Storey Great North End Location
✓3 large bedrooms, 2 bathrooms ✓High end hardwood floors, new tile ✓Flat & easy to build on ✓Bright open kitchen, large family room
✓ One year old executive home in super location ✓ extensive hardwood flooring, granite countertops ✓ Designer kitchen, vaulted ceilings, 4 bedrooms, 3 bathrooms ✓ Large private fully fenced yard with RV parking ✓ Elaborate decking with hot tub
ONLY $529,900
SUPER PRICE ONLY $599,900
ONLY $559,900
ONLY $525,900
✓ Over 2900 sq.ft. of luxurious living area ✓ 2 bedroom legal suite ✓ Extensive hardwood flooring, corian counter tops ✓ Spectacular views of Georgia Strait ✓ 5 bdrms, 4 bthrms, plus den
Brand New Executive North Nanaimo
SUPER BUY ONLY $469,900
✓ 5 bedrooms 3 bathrooms ✓ Hardwood floors. Granite countertops, designer kitchen ✓ 2 bedroom legal suite ✓ Great room open concept, large private yard
Magnificent Executive Level Entry 2 Bedroom Legal Suite
✓ ✓ ✓ ✓
Over 2800 sq. ft. of luxurious living 5 bedrooms 3 bathrooms Extensively remodelled Hardwood floors, designer kitchen, 2 gas fireplaces ✓ Too many extras to list, shows immaculately
✓ Magnificent modern 4 bedroom home ✓ Huge 2 bay shop with hydro ✓ Beautifully landscaped private lot ✓ Steps to water front and recreation
BRAND NEW OCEAN VIEW EXECUTIVE NORTH NANAIMO
North Nanaimo Executive Home
Executive Ski Chalet Mount Washington
✓ Built in 2010, over 3000 sq. ft on 2 levels ✓ 5 bedrooms 2 bathrooms ✓ 2 self contained units, great for renting out ✓ Executive quality finishing, open layout ✓ All appliances, furniture, dishware included
SUPER PRICE ONLY $599,900
Cedar Family Home .28 Acre Lot
✓ Bright open layout, private
balcony ✓ Close to shopping & hospital ✓ Large kitchen, gas fireplace ✓ Secured entry, underground parking ✓ Shows immaculately
YELLOW POINT EXECUTIVE HOME 5.29 ACRES WITH HUGE SHOP
✓ Great north Nanaimo location ✓ Brand new with over 3500 sqft of
luxurious living
ONLY $598,000
✓ 6 bedrooms, 4 bathrooms ✓ Hardwood floors, overheight ceilings ✓ Top quality executive finishing, 10
year warranty
4 – THE NANAIMO REAL ESTATE REVIEW, JANUARY 8, 2015
Preparing Your Home Sale When selling your home, it’s more than purchase price and location that will make or break a deal. How your home looks is also very important. Your REALTOR® can give you an objective opinion of what you need to do. REALTORS® have the experience and knowledge that can help identify problem areas or suggest improvements. In most cases, REALTORS® will not suggest major renovations. A few minor repairs here and there and a thorough cleaning are usually all that are required. Cleaning up the homestead: Almost all buyers are on the lookout for one thing -- a clean home. Many will walk away if a home looks uncared for, or make an offer much lower than the listing price. Ensure your home is spotless and free of clutter. The two most important rooms in a buyer’s mind are the kitchen and the bathroom. Pay particular attention to these areas -- they should sparkle and shine. Making repairs: Some things must be repaired if there are problems. A leaky roof, electrical problems, furnaces, water heaters and plumbing all must be fixed before a sale. Other things just need attention. These can include leaky faucets, holes in window screens and any broken glass, etc. If some of your walls are too dirty to come clean, you may wish to consider a paint job. Carpets and rugs should also be clean and in good repair. Outside and In: Take a close look at your yard. If it’s spring or summer, prune the trees and shrubs, and keep the lawn neat. If it’s fall, rake the leaves regularly. And in the winter, make sure walks and driveways are kept clear of snow and ice. To renovate or not to renovate: Most renovations do not translate into an increase in selling price of more than the cost of the renovations themselves. Painting, wallpapering and modest landscape improvements usually recover their costs, but major projects such as new patios, decks or additions rarely do. The Vancouver Island Real Estate Board (VIREB) represents over 900 REALTORS and administers of the Multiple Listing Service® system north fo the Malahat to the northern-most reaches of the Island. This article was provided on behalf of VIREB REALTORS for the information and benefit of consumers. For more information, visit the Vancouver Island Real Estate Board’s website at www.vireb.com or call 250-390-4212.
THE NANAIMO REAL ESTATE REVIEW, JANUARY 8, 2015 – 5
Free Recorded Home Information 24 Hours a Day
Call Toll-Free 1.800.897.7549 Insurance Brokers Ltd. EST 1898
101 - 3150 Island Highway, Nanaimo Phone: 250-758-2484 Fax: 250-758-2452
Enter the extension number to hear a property description
D L SO
$274,900
Floor Plan
Business • Home • Tenants Condominiums • Travel • Construction Boats & PWC • Autos • Campers Trailers & Mobile Homes
2650 Beaver Creek Cres.
Visit www.chris-martin.ca To view please call Chris Martin at 250 616-1996
Ext. 1042 or visit www.chris-martin.ca To view please call Chris Martin at 250 616-1996
2063 Stonecrop Road
Floor Plan
NEW HOME WITH LEGAL TWO BEDROOM SUITE! 2/5/10 YEAR WARRANTY! 5 Beds + Den, 3 Baths, 2,359 Sq Ft, Double Garage, Fully Fenced, NG Fire Place, Open Floor Plan, Suite has Private Entry & Private Laundry, Excellent Neighbourhood, Underground Utility Services, Hurry, Act Now! Visit www.chris-martin.ca To view please call Chris Martin at 250 616-1996
1543 Extension Road
Video
NEW CHASE RIVER HOME! TWO BEDROOM LEGAL SUITE! 5 Bedrooms, 3 Baths, 2,361 sq ft, 2/5/10 Year Warranty, Open Floor Plan, Hardwood Floors, Security System, B/I Vac, Double Garage, Verandah, Upgraded Finish, Walk to Schools, Shops and Bus Service, Buyer Friendly, Act Now! Ext. 1032 or visit www.chris-martin.ca To view please call Chris Martin at 250 616-1996
• Distributed every two weeks in the Thursday Nanaimo News Bulletin • Economically priced advertising
$254,900
$379,900
Floor Plan
Reaching over 64,000 homes and businesses from Nanoose to Cassidy every month
WONDERFUL FAMILY HOME! GREAT LOCATION!
2,334 sq.ft., .26 acre, 3 bed, 3 bath, new thermal windows, new heat pump & new furnace, updated main bath, partially covered wrap around deck, fully fenced, very bright, very clean, walk to schools, parks and bus service.
$359,900
Real Estate REVIEW
Video
BUYER FRIENDLY HOME! NO THROUGH ROAD! 4 beds, 2 baths, 2656 sqft., .17 acre, split entry, easily suited, garage, new paint, large rear deck, fully fenced, heat pump, quick possession possible, walk to schools, parks & bus service. Act now!
D L SO
Providing insurance for:
Floor Plan
Video
952 Virostko Crescent
www.lenhartinsurance.ca
$299,900
$449,900
Floor Plan
Floor Plan
516 Ruby Cres.
Video
COMPLETELY UPDATED RANCHER! 3 beds, 1 bath, 914 sq.ft., newer kitchen & baths, newer roof & windows, newer flooring & paint, carport, huge yard, very private & flat, large rear patio, RV parking, buyer friendly, hurry, call now!
Ext. 1022 or visit www.chris-martin.ca To view please call Chris Martin at 250 616-1996
D L SO
$349,900
Floor Plan
110 Saker Place
Video
WONDERFUL FAMILY HOME! FANTASTIC LOCATION! NO THROUGH ROAD! QUICK POSSESSION! 4 beds, 3 baths, 2,195 sq.ft., .28 acre, new roof, new paint, new light fixtures, vaulted ceiling, great floor plan, 3 fireplaces, master bedroom with an ensuite and a balcony, NG furnace, double garage, huge deck with stairs into backyard, fully fenced, fruit trees, easy maintenance landscaping, walk to schools, parks & bus service. Hurry, call now!
Visit www.chris-martin.ca To view please call Chris Martin at 250 616-1996
D L SO
$319,900
Floor Plan
Video
Video
3133 Robin Hood Dr.
405 McNiven Road LADYSMITH CUSTOM BUILT HOME! SPECTACULAR OCEAN VIEW!
4 Beds, 3 Baths, 3,060 Sq Ft, Spacious Rooms, High Ceilings, Tall Windows, Sunny & Bright, Hardwood Floors, Granite Counters, 2 NG Fireplaces, Master Bedroom on Main Level, Ensuite with Jetted Tub, Huge Rear Deck, Fully Fenced, Wonderful Landscaping, Great Neighbourhood, Act Now!
Ext. 1092 or visit www.chris-martin.ca To view please call Chris Martin at 250 616-1996
DEPARTURE BAY HOME WITH OCEAN VIEW! BACKS ONTO A PARK!
3 Beds, 2 Baths, 1,634 Sq Ft, .45 Acre, New Flooring, NG Fireplace, Master Bedroom with Walk-In Closet, Living Room and Family Room, Super Clean, Bright & Spacious, Lots of Storage, Huge Upper Deck, Enormous Private Rear Patio, Garage, RV Parking, Peaceful & Quiet, Hurry, Call Now!
Visit www.chris-martin.ca To view please call Chris Martin at 250 616-1996
For more information on advertising and rates for the Nanaimo Real Estate Review, please contact Lesley Livingstone-Gray at our office, 250-734-4614. C: (250)616-1996 • B: (250)751-1223 • F: (250)751-1300 • E: chris@chris-martin.ca
www.chris-martin.ca PERSONAL REAL ESTATE CORPORATION
6 – THE NANAIMO REAL ESTATE REVIEW, JANUARY 8, 2015
THE NANAIMO REAL ESTATE REVIEW, JANUARY 8, 2015 – 7
8 – THE NANAIMO REAL ESTATE REVIEW, JANUARY 8, 2015
我们的所有列表都是翻译成中文的销售到亚洲市场
All our listings are translated into Mandarin for marketing into the Asian marketplace.
#38 6245 Metral Drive $95,500 Crest Mobile Home Park
• 2 bedrooms, 1 bathroom •Approx. 980 sq ft • Lots of EXTRA’S - skylights • Electric heat pump • Private yard, large deck, views of Mt. Benson
Bev Mason-Wood 250-739-9357
65 Rainer St. South Nanaimo $159,000
1157 Morrell Circle $104,000
• Duplex zoned LOT • 7546 sq.ft. • Potential subdivision in near future once Garden Street is built
• Willow Mobile Home Park • 2 bedrooms, 2 bathrooms, • Approx. 980 sq ft
Hillary Reeves 250-713-8411
Gordon Halkett 250-714-2001
LD
SO #101-2560 Departure Bay $229,000 SEASCAPE MANOR
• 2 bedrooms, 2 baths • rare-ocean view-level entry-END suite • Immediate Possession Available • approx. 1213 sq.ft.
Gordon Halkett 250-714-2001
List with
#19 4991 Bella Vista Cres. North Nanaimo $289,000. • 3 bedrooms, 4 bathrooms • Approx. 2839 sq ft • NO strata fees for 2 YEARS!! • Total privacy....and IMMACULATE
Gordon Halkett 250-714-2001
• 3 bedroom, 2 bathrooms • Approx. 2304 sq ft • Unobstructed city, ocean & mainland mountains view! • Walking distance to Vancouver Island University
683 Park Avenue NEW HOME - COMPLETION SOON $379,000
• 4 bedrooms • 3 bathrooms • Approx. 2217 Sq Ft
Gordon Halkett 250-714-2001
5006 Vista View Crescent $628,000 N. Nanaimo/Rocky Point
2353 Weeks Road Nanoose Bay $650,000
Bev Mason-Wood 250-739-9357
250.760.1066
209 4th Street $295,900
• 2,000 sq.ft. • 5 bedrooms, 3 bathrooms • Large yard for kids • Close to VIU
Hillary Reeves 250-713-8411
• 3.8 acres with TWO homes • 3 blocks from the ocean & the property is on Riverfront • Potential subdiv. in future
Gordon Halkett 250-714-2001
#2603 - 154 Promenade Drive 2 Level Penthouse Suite $1,250,000 Approx. 2,533 sq. ft. Floor to ceiling windows, 20 ft. ceiling in the living room. Granite fireplace and kitchen counter tops. Full games room. Sunny S.W. Deck is “the” place to capture the sun’s last rays at dusk. Call Gordon Halkett. #207-158 Promenade Dr. $315,000 The Gabriola Bldg. 2 bdrms, 2 bathrms, approx. 1117 sq.ft. Faces south & west with harbour views toward Gabriola Island. Very tastefully decorated, crown mouldings etc. #2503 154 Promenade Dr $699,000 SEMI Penthouse - adjoining suite is also available, 1 bedroom, 2 bathrooms, and a media room, Approx. 1,531 sq.ft., great room is over 33’x17’! #2504 154 Promenade Dr. $829,000 2 bedroom, 2 bathrooms, approx. 1609 sq.ft. Faces N&E, unobstructed of Strait of Georgia floor-toOct. ceiling9, windows, REALviews ESTATE REVIEW 2014 adjoins to #2503, approx. 1,609 sq.ft. Call Cameron Island Specialist, Gordon Halkett at 250.714.2001
Gordon Halkett 250-714-2001
5194 Dunster Rd. Pleasant Valley $299,000
• Half duplex • 1574 sq ft • 3 bedrooms, 2½ bathrooms, approx. 1,574 sq.ft. • Super private-full garden • Quality & details of finishing SHOWS
Gordon Halkett 250-714-2001
LD SO
WATERFRONT CONDOS
Gordon Halkett 250-714-2001
• Ocean view home with unbelievable sunsets • 3 bedroom plus den, 2 up, 1 down • Sep. entrance downstairs • 3 bath, 2 gas fireplaces • Approx. 2,370 sq.ft.
The Largest Residential Real Estate Brokerage in the World!
Free evaluation - call us
Rutherford Pointe $199,500
• 2 bedrooms, 2 bathrooms, approx 1180 sq.ft. • CORNER suite with large covered deck adjacent to the Nanaimo North Town Centre Mall
LD SO
Cameron Island
LD
SO 1139 College Drive University District $379,000
Century 21 Harbour Realty Ltd - each office independently owned & operated
#318-4971 Songbird Place Uplands area-
2148 Lark Crescent $479,000
• Large family home 3000 sqft. • 4 bedrooms plus 1 bedroom legal suite • Family room and TV room/office
Hillary Reeves 250-713-8411
2083 Saddle Drive Nanoose $749,000
• Rocking horse Ranch-Schooner Cove area • 5 bedrooms, 4 bathrooms • Approx 4100 sq ft • 5 flat acres, income-producing hobby farm • 4 paddock horse farm
Gordon Halkett 250-714-2001
442 Milton Street Old City $499,000. • 5 bedrooms, 2 bathrooms • Nanaimo’s ONLY English Style Cottage Home, City of Nanaimo heritage approved • Ocean view home with over 3,000 sq. ft.
Gordon Halkett 250-714-2001
Fairwinds Golf Course $790,000 Owner will consider trade UP or DOWN Gord Halkett 250-714-2001
HAPPY NEW YEAR!
1572 SEABIRD RD Now Only $84,900
STORAGE/ WORKSHOP
IMMACULATE HOME IN ADULT PARK. You must see this unique, recently renovated 2 bedroom, 2 bath home in one of the nicest Parks in the area with no other homes in sight. The front windows and partially covered 8x44 deck, look out onto a quiet pasture area of farmland. You can barbecue rain or shine in this private setting. With 1 bedroom and 1 bath at each end, and no hallways, it is a very convenient layout including dining room, and large living room. Recent renovations include all new flooring, new bathroom fixtures, new hot water heater, soft close drawers in kitchen, resurfaced deck, fresh paint, three ceiling fans, blown in insulation, and new vinyl thermal windows making this an economical home to heat. Only minutes from Nanaimo, the airport, and ferries, this location is very convenient. There is a clubhouse for large gatherings and even a private 3 hole golf course in the park for your use. There is nothing you need to do except move in.
“I HAVE SOLD ALMOST ALL MY LISTINGS, AND NOW HAVE ROOM AND TIME TO SELL YOURS!” CALL ANYTIME FOR A FREE MARKET ANALYSIS CELL: 250-716-6708
Island Pacific Realty Office: 250.345.7777
Cell: 250.716.6708
CONTACT FRASER CARMICHAEL GETTIN’ YOU MOVING IS MY GOAL!
THE NANAIMO REAL ESTATE REVIEW, JANUARY 8, 2015 – 9
IMPORTANT Property Tax Information HOME OWNERS GRANT
DEVELOPMENT PROPERTY, LADYSMITH • 19+ acres at the top of Malone Road, adjoining parkland, in sought-after developed neighbourhood • Potential zoning for 182 doors and possibly some views • Services to the property line, low development costs $2,980,000 • Information package available Call for details 250-668-9878
$$
Westwood Lake, Ocean view and Privacy
VIU Home With Suite Potential
2276 LEIGHTON RD
392 FOSTER ST
Since 1957, the BC Government has helped reduce the amount of property taxes you pay to your local government. To be eligible for the grant, the property owner must be: •
A Canadian citizen or landed immigrant and reside in British Columbia • The registered owner or eligible occupant of the home located within the province. • Living in the home as your principal residence. The grant doesn’t apply to summer cottages, second homes or rental properties Spouses who live together, who are married or live together in a marriage-like relationship, including same-sex partners, can qualify for a grant on one residence in the province in a calendar year. Spouses who live apart can each claim a grant on their principal residence if they have a written separation agreement or a court order recognizing the separation. Eligible home owners must apply for their grant each year before their tax due date.
How much is the grant?
$
The basic grant reduces taxes for home owners under the age of 65 by up to $570. The additional grant for home owners aged 65+ and eligible veterans and disabled home owners is $275, for up to a total of $845. The basic grant is reduced by $5 for each $1,000 of assessed value over $1,150,000 and is eliminated on homes assessed at $1,264,000 and above. The additional grant is reduced by $5 for each $1,000 of assessed value over $1,150,000 and is eliminated on homes assessed at $1,319,000 and above. For information, please visit: www.sbr.gov.bc.ca/hog
New initiatives •
The Industrial Property Tax Credit increased to 60 per cent of school property taxes payable by light and major industrial properties • There is a new credit of 50 per cent of school property taxes for land classified as 'farm'.
Multiple owners, multiple grants?
$589,900
$314,000
•3300 sqft main level, living, all day sun •open plan kitchen, dining/living area •vaulted ceilings, 2nd spicy kitchen •private yard, landscaped, raised gardens
• 2250 sqft, main level living renovated • Double garage, corner lot, RV parking • Forced air gas, h/w floors, coved ceiling • Separate access down with partial kitchen
Ocean View & Wheelchair Ramp
Renovated Mobile, RV Parking
31-1000 CHASE RIVER RD 43-1572 SEABIRD RD MUST SELL!
MUST SELL!
$59,900
$59,900
• stunning ocean views across to Gabriola • vaulted ceilings, multiple windows & skylights • open plan kitchen/living/dining, wired wkshop • INCREDIBLE wall to wall window sunroom
• VENDOR financing, pets & rentals allowed • open plan/kitchen/dining/living, large wkshp • garden shed, fruit trees, grape vine, covered patio • dbl driveway, overheight carport, all day sun • onsite golf course, clubhouse & great social club
Luxurious Morningstar Golf Course Townhome
Beautiful 2 bdrm, 2 bth overlooking courtyard
1281 ROBERTON BLVD
204-2111 MEREDITH
If you own a property with others, decide which owner will pay the taxes so you don’t pay twice. If, for example, there are three owners living in a dwelling as a principal residence, only one Home Owner Grant can be claimed. You may qualify for the Home Owner Grant if you’re a shareholder of a corporation, or a member of a housing cooperative or housing society that owns: • • •
an apartment building housing cooperative buildings housing society buildings
The corporation or cooperative or society applies for grants for all eligible property or units in the building and passes the grant benefit to qualifying occupants. An eligible property includes:
$429,900
• 2425 sqft executive main level living & loft • EXCEPTIONAL privacy by the 11th green • chef’s kitchen, vaulted ceiling, dble garage • master suite, floor to ceiling windows • rentals and pets permitted with approval
•
land shown as a separate taxable parcel on a tax roll that has a taxable improvement • a building containing at least two apartment units, each occupied by an eligible occupant • eligible land cooperative residences • a multi-dwelling leased parcel with two or more residences on it Read more on property taxes and other important consumer issues at: www.vireb.com
$219,000
• Was rented at $1100/mth, 2 bath, built in 2011, low strata fee • Open plan living, insuite laundry, fireplace • Onsite gym & rec room for entertaining • Pets & rental permitted
SANDY CLARK Cell 250.668.9878 sclark@460Realty.com www.sandyclarkrealestate.com
10 – THE NANAIMO REAL ESTATE REVIEW, JANUARY 8, 2015
Understanding Real Estate Terminology If you’re thinking of buying a home for the very first time, the process may seem a little confusing -- even intimidating. You’ll find yourself immersed in what may seem like a whole new language as you hear terms like “encroachments,” “blended mortgage payments,” “buy-downs” and “debt service ratios.” To help you better understand the language of real estate, the Vancouver Island Real Estate Board has compiled a glossary of some of the most common real estate terms which you’re likely to encounter. When reading it over, keep in mind that the list is by no means exhaustive. Still, it’s a general list which will give you a basic understanding. Adjustment Date: The day from which all calculations of interest, tax adjustments, utility bill adjustments (if applicable) are made to the credit of either the buyer or the sellers. This is usually (not always) the same as the possession date. Amortization: The number of years it takes to repay the entire amount of the mortgage. Appraised Value: An estimate of a property’s market value, used by lenders in determining the amount of the mortgage. Assessed Value: The value of a property, set by the BC Assessment Authority, for the purposes of calculating property tax. Buy-down: When the seller reduces the interest rate on a mortgage by paying the difference between the reduced rate and market rate directly to the lender or to the buyer. Closing: The real estate transaction’s completion, when the parties involved agree that all legal and financial obligations have been met and the deed to the property is transferred from the seller to the buyer. Condominium Common Property: The portions of a condominium development owned in common (shared) by the unit owners e.g.: pool, exercise room, lobby, etc. A strata fee is charged to every unit owner for the use of the common property. Condominium Ownership: Shared ownership in a strata-titled property. Owners have title (ownership) to individual units and a proportionate share in the common property. Conventional Mortgage: A first mortgage issued for up to 75 per cent of the property’s appraised value or purchase price -- whichever is lower. Conveyance: The term used to describe the process of transferring the seller’s title to the buyer and indicates all the necessary steps to complete the transfer. A conveyancer is a lawyer or Notary Public responsible for the conveyance process. Counter-offer: An offer made by the seller back to the buyer altering one or several terms and/or conditions of the offer as originally written. Gross Debt Service (GDS) Ratio: This is the amount that a lender will permit a borrower to use from his/her gross income in order to qualify for a loan for housing costs, including mortgage payment and taxes (and condominium fees, when applicable). Total Debt Service (TDS) Ratio is the maximum percentage of a borrower’s income that a lender will consider for all debt repayment (other loans and credit cards, etc.), including a mortgage.
Lien: Any legal claim against a property, filed to ensure payment of a debt. Mortgage: A contract between a borrower and a lender. The borrower pledges a property as security to guarantee repayment of the mortgage debt. Mortgage Insurance: Government-backed or private-backed insurance protecting the lender against the borrower’s default on high-ratio (and other types of) mortgages. Mortgage Life Insurance: Insurance that pays off the mortgage debt, should the insured borrower die. Mortgage Penalty: Is a fee paid by the borrower to the lender in exchange for being permitted to break a contract (a mortgage agreement); usually three months’ interest, but it can be higher or it can be the equivalent of the loss of interest to the lender. Multiple Listing Service® (MLS®): A current and comprehensive listing system for relaying property information to VIREB’s REALTORS. This service offers the widest exposure to properties listed for sale and includes total exposure on the Internet (mls.ca). Principal: The mortgage amount initially borrowed or the portion still owing on the mortgage. Interest is calculated on the principal amount. Property Condition Disclosure Statement: This form enables sellers to disclose known defects. If the seller decides not to complete the form and does not disclose known defects, he or she is still held liable. The form also serves as a checklist for buyers enabling them to address concerns about the property’s condition on the spot. The form was developed by the British Columbia Real Estate Association. Property Taxes: This levy is affected by location and is determined by local property tax assessment practice. Tax assessments are conducted by local governments. They are paid on an annual basis. Property Transfer Tax: Payment to the provincial government for transferring property from the seller to the buyer. However, first-time buyers are exempt under certain circumstances. REALTORS: Real estate professionals who are members of the Vancouver Island Real Estate Board and the British Columbia and Canadian Real Estate Associations. Only these professionals can call themselves REALTORS. Rights of Way: Are indicated on title at the Land Title Office; often for use of utilities or city or municipality on order to make repairs to pipes, etc.; no permanent structure may be built on a right of way. Statements of Adjustments: Closing statements in a real estate transaction which set out the sources of funds which make up the purchase price, adjustments to and from the purchase price, the final amount required from the buyer and the amount due to the seller. Lawyers will prepare a statement for the seller and the buyer. State of Title Certificate: A copy of the title which lists charges against the property e.g.: liens, mortgages, rights of way, etc. “Subject-To” Clause: A statement of a condition to be fulfilled before the contract will become firm and binding; must include a specific deadline for removal.
Deed: A legal document that conveys (transfers) ownership of a property to a buyer.
Title: The legal evidence of ownership in a property.
Easement: A legal right to use or cross (right-of-way) another person’s land for limited purposes. A common example is a utility company’s right to run wires or lay pipe across a property.
Title Search: A detailed examination of the ownership documents to ensure there are no liens or other encumbrances on the property, and no questions regarding the seller’s ownership claim.
Encroachment: An intrusion onto an adjoining property. Common examples are a neighbour’s fence, storage shed or overhanging roof line that partially (or even fully) intrudes onto your property.
Utility Taxes: Examples may include water, sewer and garbage (may include recycling levies).
Equity: The difference between the price for which a property can be sold and the mortgage(s) on the property. Equity is the owner’s stake in the property. Foreclosure: A legal process by which the lender takes possession and ownership of a property when the borrower doesn’t meet the mortgage obligations. High-Ratio Mortgage: Is a mortgage that exceeds 75% of the loan-to-value ratio; must be insured by either the Canada Mortgage and Housing Corporation (CMHC) or a private insurer to protect the lender against default by the borrower who has less equity invested in the property.
Variable Rate Mortgage: A mortgage for which payments are fixed, but whose interest rate changes in relationship to fluctuating market interest rates. If mortgage rates go up, a larger portion of the payment goes to interest. If rates go down, a larger portion of the payment is applied to the principal. Seller Take-Back Mortgage: When sellers use their equity in a property to provide some or all of the mortgage financing in order to sell the property. This article was presented by the Vancouver Island Real Estate Board for the information and benefit of consumers.
The Vancouver Island Real Estate Board (VIREB) represents over 900 REALTORS and administers of the Multiple Listing Service® system north fo the Malahat to the northern-most reaches of the Island. This article was provided on behalf of VIREB REALTORS for the information and benefit of consumers. For more information, visit the Vancouver Island Real Estate Board’s website at www. vireb.com or call 250-390-4212.
THE NANAIMO REAL ESTATE REVIEW, JANUARY 8, 2015 – 11
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12 – THE NANAIMO REAL ESTATE REVIEW, JANUARY 8, 2015