Vancouver Island Real Estate News from Rudi Widdershoven - teamW July 2012   

Hi Paul,

Summer is here!  We hope that you take some time to enjoy this wonderful weather and get a chance to enjoy some of the great activities in the area.  It is also fun to explore various parts of Vancouver Island.

Our daughter Jessica & Angus, our new son-in-law, got married on June 23rd and the weather could not have been better.  Mom & Dad were pleased to be asked to host the wedding at our place.  Family came from afar and it was a wonderful picture perfect wedding with an eagle flying overhead after the ceremony and killer whales showing up Sunday morning during breakfast.

The market continues to give you great repositioning opportunities!  We are here to assist you with your real estate needs this summer.  The news articles regarding a 'bubble' do not apply to us here on the central island as we have already seen market corrections in prices.

Thanks so much for checking out this month's newsletter.  Please let us know if you have any questions or comments regarding the articles, or real estate in general -- it'd be great to hear from you!

Warmest Regards,
Rudi W.

In this issue...
Vancouver Island Housing Market Sales Activity Dips In June 
Multiple Listing Service® (MLS®) sales summary data released by the Vancouver Island Real Estate Board (VIREB) shows housing sales activity across Vancouver Island recorded a drop in unit sales last month as compared to a year ago while average prices remain virtually unchanged.

Across VIREB’s coverage area in June average sales prices dipped incrementally over what was recorded in June 2011. The average sales price of a single family home sold within the VIREB region in June was $341,864 down slightly from the June 2011 average price of $343,456.

The number of unit sales (on a year to year basis) dropped 18 per cent. In June 2011 63 single family homes were sold, in comparison 55 unit sales were recorded in June 2012. There was also a decrease (16%) in the number of homes listed last month as compared to June 2011, however the overall current inventory is about the same (480 homes).
“Prices remain relatively flat and the overall economic activity has become a little slower,” explained Cameron Muir, Chief Economist with the British Columbia Real Estate Association (BCREA). “But if you look at the numbers based on sales transactions recorded during the first six months of the year you can see that we’re looking at activity and prices that have been pretty stable throughout 2012. Stability and consistency have to be the only way to accurately describe the real estate marketplace on Vancouver Island.”

With similar inventory to 2011 and decreased sales it continues to be a buyers' market and a great time to consider a move up.  Vacancy rates remain low so it is agreat time to buy for the future, or for investment.  The good news for sellers is that there continues to be consistent activity in the market and if you are priced right and the right buyer is looking for your home it will sell.

Contact us for an interpretation of trends or an examination of conditions that could be affecting your area or segment of the market as local factors can dramatically affect the monthly statistical picture.

Are You Ready for the Real Estate Roller Coaster? 
Buying or selling a home is a huge task that can trigger a roller coaster of emotions.  When you're being tossed around at every turn, it's critical to hang on and keep your feelings on track.

When you put your home on the market, you need to view it as just a house.  Don’t be offended if someone wants to rip up your kitchen or paint over the wood trim.  It's natural for people to complain when they're interested in something so while criticisms may seem negative, they're actually a good sign!

Never take things personally as it can cause negotiations to fall apart.  Sentimental home owners who've invested years of hard work and personal love into a home are often put off by a low offer even though it's just a starting point.  Having a real estate agent act as your 3rd party negotiator will help keep emotions at bay.

If you’re lucky enough to generate multiple offers (rare in our current market), make sure you consider more than just the price.  Conditional offers can send you for a real loop.  There's nothing worse than accepting an offer just of the price only to have it fall apart a month later when you could have accepted a firm cash offer that was almost as good.

When buying a home, do your research ahead of time to avoid emotional shopping.  Although you want to keep an open mind, falling in love with a "fixer upper" when you’re looking for a turnkey home will probably end up being a mistake no matter what the price.  Making a hasty decision based solely on an emotional reaction can result in buyer’s remorse.  We can help you keep these feelings in check.

It’s completely normal for home buyers and sellers to experience a wide range of intense emotions as they navigate through the complex real estate process.  Just remember not to take things personally or let your emotions rule every decision.  If you get on the real estate roller coaster with a competent agent by your side, not only will you enjoy the ride but you may want to do it again and again!

Getting Your Fruit Fix, the Smooth Way 
Fruits are packed with essential vitamins, minerals and antioxidants.  An ice cold smoothie is a simple and refreshing way to ensure you get enough fruit each day.  Here’s a delicious recipe for a banana blueberry smoothie:

  • 1 banana
  • 1 cup of blueberries
  • 1 cup yogurt
  • ½ cup milk (substitute soy or almond milk)
  • ½ cup of ice

Load everything into a blender and mix until smooth.  It's all about experimenting so try  substituting raspberries for blueberries or add juice instead of milk.  Other popular additions are flax seed, peanut butter, almonds or oats.  Get creative and enjoy!

PS Oh by the way, I am never too busy for any of your introductions.  If you know of anyone that may benefit from my help please contact me with their name and number and let them know that I will be in touch.  I would be priveleged to assist them!

If you would like to keep up on the market and would like automatic email notifications of new listings, sales, etc. Click here or drop us an email or give us a call:  250-248-1071 /

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