I have listed a new property at Z2 Courtenay East, Zone 2 - Comox Valley Z2 Courtenay East, Zone 2 - Comox Valley.
Ideal family home located in an extremely central East Courtenay neighborhood within walking distance of North Island College, the new hospital, Thrifty Foods, and many other shops. With three separate levels there is ample space for the whole family. The main level features vaulted ceilings over the family room, kitchen, and dining room, a natural gas fireplace in the family room for cozy winter days, and hardwood floors through the majority of the space. The second floor has three large bed rooms with a full ensuite and walk in closet off of the master bedroom. The lower level features 9' ceilings, a large fourth bedroom that is currently being used as a media room, a bar area, and a large rec room. Outside there is tons of room for RV parking, a fully fenced yard, and a new two level deck for entertaining friends and family. Other features include a natural gas furnace for efficient heating, natural gas stove, stainless steel appliances, and large windows for plenty of light.
 
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I have sold a property at 6 8844 TAMMY ROAD in BLACK CREEK Z2 Merville Black Creek, Zone 2 - Comox Valley.
This newer mobile home is located in a quiet mobile home park with extremely low pad fees of only $298/month. The mobile itself features a large open living area with vaulted ceilings, a large master bedroom, good sized guest bedrooms and a huge private deck for entertaining. The yard is very large and there is plenty of room to park extra vehicles or RVs.
 

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I have sold a property at 108 200 BACK ROAD in COURTENAY Z2 Courtenay East, Zone 2 - Comox Valley.
Very clean one bedroom condo located in Hollyridge Manor. This condo is due to impress with new floors and faucets in the kitchen and bathroom, new over the range microwave, and new medicine cabinets. This unit was previously owner occupied and more recently tenanted by a senior that has taken very good care of the unit, and it shows. Being a lower floor unit you get a garden level patio on the quiet side of the building for extra privacy. Hollyridge Manor has been very well managed by Meicor Realty Management Systems and the condition of the building and state of finances for the strata really reflects this. The existing tenant would love to stay but is on a month to month tenancy so this unit would make for either an excellent investment or starter home.
 

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I have sold a property at 13 717 ASPEN ROAD in COMOX Z2 Comox (Town of), Zone 2 - Comox Valley.
This three bedroom, three bathroom townhouse is located in a central Comox location within the desirable Meadow Glen Estates. The main level living area is bright and open with a good sized kitchen. The kitchen & dining area feature tile floors while the living room has laminate floors. The master bedroom fits a king size bed with room to spare and features a walk in closet and full ensuite. This family friendly complex includes a playground, tennis court and RV parking is available. This prime Comox location is close to shopping, coffee shops, schools and recreation. Only a couple minutes drive from the new hospital, North Island College and the aquatic centre.
 

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I have sold a property at 9 2882 PIERCY AVE in COURTENAY Z2 Courtenay City, Zone 2 - Comox Valley.
Backing onto green space and the new Rotary trail this three bedroom, two bathroom townhome has a spacious yard that private and receives plenty of sun throughout the day. The interior is immaculate with laminate floors, gas fireplace and modern finishings from top to bottom. Upstairs is a comfortable master bedroom with walk-in closet and full ensuite. One of the downstairs bedrooms also features a walk through closet and cheater ensuite which makes this home ideal for seniors, families or young professionals. Being an end unit, this home is noticeably brighter and more private than other units in the same complex. Only nine years old, this home is still protected under the home warranty program. Pets and rentals are allowed in this well run strata complex which helps make this a strong investment property as well.
 

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I have sold a property at 2203 6TH E STREET in COURTENAY Z2 Courtenay East, Zone 2 - Comox Valley.
This three bedroom two bathroom rancher has recently been fully remodeled and is within walking distance of North Island College, the new hospital, Thrifty Foods, and dozens of other shops. The main living area is large and open with vaulted ceilings, modern aesthetics, and large windows interior and exterior doors, light fixtures, and fresh paint. The large flex room could be used as a rec room, den, or fourth bedroom depending on your needs. Outside the home has been fully resided with hardi, stone, and metal siding, and there is a garage for parking of extra storage. The large rear yard is fully fenced and features a large covered deck to extend the BBQ season. There is also plenty of space to park toys like boats or RV's.
 

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I have sold a property at 1460 HOBSON AVE in COURTENAY Z2 Courtenay East, Zone 2 - Comox Valley.
This substantially updated home is situated in an ideal location central to shopping and recreation and is surrounded by a network of trails and parks. The kitchen, living and dining rooms are very bright with plenty of natural light and an open floor plan. The kitchen is a good size with cabinets that go right to the ceiling and a chef's kitchen island. Both the family and living room spaces feature natural gas fireplaces for cozy nights in the winter and more economical heating. Other features include new tile and laminate floors, vinyl windows, fresh paint, crown moulding, a large master bedroom and a renovated laundry room that you will actually want to spend time in. Outside the yard is beautifully landscaped, completely private with mature trees, has both a covered deck and an open deck, three fruit trees and raised garden beds.
 

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Please visit my Open House at 9 2882 PIERCY AVE in COURTENAY.
Open House on Sunday, February 4, 2018 11:00AM - 12:30PM
Backing onto green space and the new Rotary trail this three bedroom, two bathroom townhome has a spacious yard that private and receives plenty of sun throughout the day. The interior is immaculate with laminate floors, gas fireplace and modern finishings from top to bottom. Upstairs is a comfortable master bedroom with walk-in closet and full ensuite. One of the downstairs bedrooms also features a walk through closet and cheater ensuite which makes this home ideal for seniors, families or young professionals. Being an end unit, this home is noticeably brighter and more private than other units in the same complex. Only nine years old, this home is still protected under the home warranty program. Pets and rentals are allowed in this well run strata complex which helps make this a strong investment property as well.
 
I look forward to seeing you there.
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I have listed a new property at 9 2882 PIERCY AVE in COURTENAY Z2 Courtenay City, Zone 2 - Comox Valley.
Backing onto green space and the new Rotary trail this three bedroom, two bathroom townhome has a spacious yard that private and receives plenty of sun throughout the day. The interior is immaculate with laminate floors, gas fireplace and modern finishings from top to bottom. Upstairs is a comfortable master bedroom with walk-in closet and full ensuite. One of the downstairs bedrooms also features a walk through closet and cheater ensuite which makes this home ideal for seniors, families or young professionals. Being an end unit, this home is noticeably brighter and more private than other units in the same complex. Only nine years old, this home is still protected under the home warranty program. Pets and rentals are allowed in this well run strata complex which helps make this a strong investment property as well.
 
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Comox Valley Real Estate Update - December 2017


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Comox Valley Real Estate Update - November 2017 



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I have sold a property at 1053 MARBLE PLACE in COURTENAY Z2 Courtenay East, Zone 2 - Comox Valley.
Located in a very central location on one of the nicest cul de sacs in E. Courtenay, this immaculate home is sure to impress. The main level living area features separate living and family rooms with large windows for plenty of natural light and a cozy natural gas fireplace in the family room. The large kitchen is every chef's dream with tons of hardwood cabinets & counter space, a corner sink overlooking the back yard, a natural gas range, french doors leading to the back deck, and a large island for entertaining while you cook. The three bedrooms are all located on the upper floor and the master bedroom features 9' ceilings, a large walk in closet, and a full ensuite. Outside the yard is large enough for RV parking, has a large workshop for storage, in ground sprinklers, privacy hedges, a raised gardening area, and a beautiful deck for hosting BBQ's. Other features include a built in vac, natural gas furnace, colour matched vinyl windows, and new vinyl floors in all 3 bedrooms.
 

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Comox Valley Real Estate Update - October 2017


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I have listed a new property at 1053 MARBLE PLACE in COURTENAY Z2 Courtenay East, Zone 2 - Comox Valley.
Located in a very central location on one of the nicest cul de sacs in E. Courtenay, this immaculate home is sure to impress. The main level living area features separate living and family rooms with large windows for plenty of natural light and a cozy natural gas fireplace in the family room. The large kitchen is every chef's dream with tons of hardwood cabinets & counter space, a corner sink overlooking the back yard, a natural gas range, french doors leading to the back deck, and a large island for entertaining while you cook. The three bedrooms are all located on the upper floor and the master bedroom features 9' ceilings, a large walk in closet, and a full ensuite. Outside the yard is large enough for RV parking, has a large workshop for storage, in ground sprinklers, privacy hedges, a raised gardening area, and a beautiful deck for hosting BBQ's. Other features include a built in vac, natural gas furnace, colour matched vinyl windows, and new vinyl floors in all 3 bedrooms.
 
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Comox Valley Real Estate Update - September 2017

 

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I have listed a new property at 2203 6TH E STREET in COURTENAY Z2 Courtenay East, Zone 2 - Comox Valley.
This three bedroom two bathroom rancher has recently been fully remodeled and is within walking distance of North Island College, the new hospital, Thrifty Foods, and dozens of other shops. The main living area is large and open with vaulted ceilings, modern aesthetics, and large windows interior and exterior doors, light fixtures, and fresh paint. The large flex room could be used as a rec room, den, or fourth bedroom depending on your needs. Outside the home has been fully resided with hardi, stone, and metal siding, and there is a garage for parking of extra storage. The large rear yard is fully fenced and features a large covered deck to extend the BBQ season. There is also plenty of space to park toys like boats or RV's.
 
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 76 days and counting until Canada's banking regulator launches its controversial mortgage stress test. It'll be squarely aimed at people with heavier debt loads and at least 20 per cent equity – and it will be a tide turner.


Given where Canada's home prices and debt levels are at, this is easily the most potent mortgage rule change of all time. Here are 10 ways it's going to shake up Canada's mortgage market for years to come:


 

It's like a two-point rate hike: Uninsured borrowers can qualify for a mortgage today at five-year fixed rates as low as 2.97 per cent. In a few months that hurdle will soar to almost 5 per cent. If you're affected by this, you could need upward of 20 per cent more income to get the same old bank mortgage that you could get today.

 

Quantifying the impact: An OSFI spokesperson refused to say how many borrowers might be affected, calling that data "supervisory information" that is "confidential." But at least one in six uninsured borrowers could feel the blow based on the Bank of Canada estimates of "riskier borrowers" and predictions from industry economists like Will Dunning. Scores of borrowers will be forced to defer buying, pay higher rates, find a co-borrower and/or put more money down to qualify for a mortgage.

 

Why OSFI did it: Forcing people to prove they can afford much higher rates will substantially increase the quality of borrowers at Canada's banks. OSFI argues that this will insulate our banking system from economic shocks, and to the extent it's correct – that's good news.

 

A leap in non-prime borrowing costs: Many home buyers with above-average debt, relative to income, will resort to much higher-cost lenders who allow more flexible debt ratio limits. At the very least, more will choose longer amortizations (i.e., 30 years instead of 25 years) and take longer to pay down their mortgage. Non-prime lenders will also become pickier. Why? Because they'll see a flood of formerly "bankable" borrowers getting declined by the Big Six. That could force hundreds of thousands of borrowers into the arms of lenders with the highest rates. If you have a higher debt load, weak credit and/or less provable income, get ready to pay the piper.

 

A safer market or riskier market? The shift to expensive non-prime lenders could boost mortgage carrying costs and overburden many higher-risk borrowers, exacerbating debt and default risk in the non-prime space. "We're very aware of the potential migration risk [from banks to less regulated lenders]," Banking superintendent Jeremy Rudin told BNN on Tuesday. "It's not something that would be a positive development." If rates keep rising, non-prime default rates could spike over time. Albeit, keep in mind, we're talking a single-digit percentage of borrowers here. The question people will ask is: Does growing debt risk in the non-prime mortgage market, combined with home price risk and a potential drop in employment and consumer spending truly lower banks' risk?

 

Provincially regulated lenders win: Unless provincial regulators follow OSFI's lead (if history is a guide, they won't), it'll be a bonanza for some credit unions. Many credit unions will still let you get a mortgage based on your actual (contract) rate, instead of the much higher stress-test rate. That means you'll qualify for a bigger loan – if you want one. We could also see a few non-prime lenders charge lower rates to help people qualify for bigger mortgages, while tacking on a fee to mortgage for that privilege.

 

Trapped renewers: Lenders are thrilled about one thing: customer retention. As many as one in six people renewing their mortgage could be trapped at their existing bank because they can't pass the stress test at another lender. And if a bank knows you can't leave, you can bet your boots they'll use that as leverage to serve up subpar renewal rates.

 

A short-term spurt: Expect a rush of buying in the near term from people who fear they won't qualify after January 1. The question is, how much of that short-term demand will be offset by people selling, as a result of the rule change's perceived negative impact. In the medium term – other things equal – this is bearish for Canadian home prices. Period. That said, borrowers will likely adapt within two to five years. And prices will ultimately resume higher.

 

The stress test could change…someday: While few credible sources expect OSFI's announcement to trigger a housing crash, the higher rates go, the more this will slow housing. Financial markets expect another rate hike by January, with potentially two to four – or more – to come. Mr. Rudin says OSFI may "revisit" the restrictiveness of the stress test if rates surge, but will the regulator act in time to prevent diving home values? That's the trillion-dollar question. The good news is that rates generally rise with a strengthening economy, which is bullish for housing – for at least a little while.

 

Tuesday's news will undoubtedly spark contentious debate over whether this was all necessary, given already slowing home prices, provincial rule tightening, rising rates and the fact that uninsured default rates are considerably lower than for people with less than 20 per cent equity.

 

OSFI says its responsibility is to keep banks safe and sound. Overly concerning itself with the side effects of its mortgage stress test is not its mandate, it claims. Well, in a few years we might be either congratulating OSFI, or asking if that mandate needs to change.



Source: Robert McLister, The Globe And Mail

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I have sold a property at 2243 WHISKEY JACK WAY in COURTENAY Z2 Courtenay East, Zone 2 - Comox Valley.
Location, location, location! This floorplan features two separate livings areas, a large master bedroom, kitchen, and family room. The kitchen is open to the family room with hardwood cabinets, a large eating bar, and doors leading to the deck. The yard has been professionally landscaped to be beautiful and yet easy to maintain. The back yard is fully fenced, there is a large dog run or storage area beside the house, and the entire yard is covered by a sprinkler system. Being a newer house that has been meticulously maintained, this home is fully move in ready and easy to care for.
 

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I have listed a new property at 1460 HOBSON AVE in COURTENAY Z2 Courtenay East, Zone 2 - Comox Valley.
This substantially updated home is situated in an ideal location central to shopping and recreation and is surrounded by a network of trails and parks. The kitchen, living and dining rooms are very bright with plenty of natural light and an open floor plan. The kitchen is a good size with cabinets that go right to the ceiling and a chef's kitchen island. Both the family and living room spaces feature natural gas fireplaces for cozy nights in the winter and more economical heating. Other features include new tile and laminate floors, vinyl windows, fresh paint, crown moulding, a large master bedroom and a renovated laundry room that you will actually want to spend time in. Outside the yard is beautifully landscaped, completely private with mature trees, has both a covered deck and an open deck, three fruit trees and raised garden beds.
 
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Please visit my Open House at 1460 HOBSON AVE in COURTENAY.
Open House on Sunday, September 17, 2017 12:00PM - 2:00PM
This substantially updated home is situated in an ideal location central to shopping and recreation and is surrounded by a network of trails and parks. The kitchen, living and dining rooms are very bright with plenty of natural light and an open floor plan. The kitchen is a good size with cabinets that go right to the ceiling and a chef's kitchen island. Both the family and living room spaces feature natural gas fireplaces for cozy nights in the winter and more economical heating. Other features include new tile and laminate floors, vinyl windows, fresh paint, crown moulding, a large master bedroom and a renovated laundry room that you will actually want to spend time in. Outside the yard is beautifully landscaped, completely private with mature trees, has both a covered deck and an open deck, three fruit trees and raised garden beds.
 
I look forward to seeing you there.
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